Timothy Sumer

Wealth Advisor Kevin Prendergast of The Retirement Network gives an overview of the AT&T 401(k) Retirement Savings Plan, and discusses other related topics including contributions and portfolio mix. For more information or to speak with an advisor, please visit theretirementnetwork.com or get in touch at info@theretirementnetwork.com. Disclosure: The Retirement Network and AT&T are not affiliated in any way. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and many be invested into directly. Stock investing involves risk including loss of principal. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Government bonds and Tre

On the Your Money, Your Wealth® podcast episode 216, Joe Anderson, CFP® and "Big Al" Clopine, CPA answer this question from Nick in Moreno Valley, CA: "I am 54 and plan to retire to the Philippines in January 2020. Total monthly income needed to start is $4000. We will have no mortgage when I retire – current home will be sold with a gain of $80,000 to pay off home in the Philippines and money left to purchase car and build a vacation home. My pension starts at 55 - $1900/mo with 50% survivor. Will start withdrawing 3% from 401k with 3% inflation or wait 2 more years and get $2400/mo pension and withdraw $4000/year from the 401k for two years. Will claim Social Security at 65 - $3,000/mo for me and wife combined. We have $550,000 in 401k, $120,000 in Roth, $12,000 in IRA, $120,000 brokerage acct., $8,000 savings bond, $14,000 Philippine mutual fund, $75,000 emergency fund money market at 2% interest. Allocation of assets invested is 40% stocks 60% bonds.