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Still working but planning for retirement withdrawals

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Dipak N., 60
Brandon, Mississippi
Still working
Married, two daughters, one still in graduate school
"My 'other job' is managing my 401(k) and an IRA."

Dipak's Tips

  • Engage in big retirement-related decisions with your spouse early and discuss over time.
  • Have an investing target, like how much to put into a fund each year. It's easier to save that way.
  • Preparing to withdraw money also requires planning.


  • Dipak has been managing much of his retirement funds, sticking to conservative investments.
  • Deciding whether to downsize the family home leads to ongoing discussions with his wife.

While Dipak isn't concerned about retiring anytime soon, he is thinking long-term about his family and the makeup of his funds.

I'm an engineer, I like my job and haven't been thinking about retiring. My "other job" is managing my 401(k) and an IRA. My wife manages her retirement accounts, too. We also have an account we started for our children's education when they were 5 years old. We ended up paying 50% of their college tuition; they paid the rest with scholarships and loans. Now that they are out of school, we have some money left over.

Negotiating divergent retirement expectations.

The biggest concern I have about the next few years is that my investments are all long-term. I'm shifting some assets to more short-term investments because eventually my wife and I would like to be able to withdraw money. I'd also like to downsize our home. However, she wants to keep it for when our children visit. I support this, but we could use the money saved in maintenance and utilities to host family in a rental property. It's something we are still discussing. I know, though, that I can't place a dollar value on the joy that family brings.

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