We are currently at #4 on the worst annual returns in history since world war 2, not a particularly good spot to be in and if we don't rally in Q4 we may get higher on this list.
Originally Posted by lewdog:
We are currently at #4 on the worst annual returns in history since world war 2, not a particularly good spot to be in and if we don't rally in Q4 we may get higher on this list.
Help my understand the limits on a Roth IRA and Roth 401k if I have both of them. Can I max out my regular Roth IRA at $6k AND contribute to a Roth 401k too since the limit on 401ks ($20,500) is different? [Reply]
Originally Posted by lewdog:
Help my understand the limits on a Roth IRA and Roth 401k if I have both of them. Can I max out my regular Roth IRA at $6k AND contribute to a Roth 401k too since the limit on 401ks ($20,500) is different?
Yes.
You can contribute:
20,500 to a 401k (there is only 1 allowed per employer so type doesn't matter)
6,000 in a ROTH IRA
6,000 in a Traditional IRA
for a total of 32,500 in tax sheltered retirement savings. [Reply]
20,500 to a 401k (there is only 1 allowed per employer so type doesn't matter)
6,000 in a ROTH IRA
6,000 in a Traditional IRA
for a total of 32,500 in tax sheltered retirement savings.
Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income. [Reply]
Imagine being a stock broker in '73 and '74. All individuals had to go through a broker and often were advised by that broker. Probably a whirlwind of career changes at that point. [Reply]
Originally Posted by Stewie:
Imagine being a stock broker in '73 and '74. All individuals had to go through a broker and often were advised by that broker. Probably a whirlwind of career changes at that point.
I did a study of savings for a client once and I interviewed a bunch of investors about issues related to picking an advisor. It was kind of funny because they all knew that the market has ups and downs and they all said that they blame the financial advisor if they lose money. [Reply]
Originally Posted by Hog's Gone Fishin:
Real Estate, buy you a rental. Best thing I ever did.
Oh wait, you probably rent , Buy your own home , get a fixer upper , live there for a year while you get it fixed up and then move to another house and rent that one out. that's how I did my first three.
At these interest rates the fixer upper is still going to be pricey. 140k for dumps in this area and you have to have money to fix it up let alone some know-how and of course time to do it. [Reply]
Originally Posted by lewdog:
Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income.
Originally Posted by Rain Man:
I did a study of savings for a client once and I interviewed a bunch of investors about issues related to picking an advisor. It was kind of funny because they all knew that the market has ups and downs and they all said that they blame the financial advisor if they lose money.
I owe you an email. I will hopefully hit you back pretty quick. If I don't, remind me. [Reply]
Originally Posted by lewdog:
Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income.
I got a tax shelter in Belize I can help you invest in. :-) [Reply]
Originally Posted by lewdog:
Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income.
Roth 401 gives you 2 significant advantages...
1. You will not pay taxes on anything when you withdraw unlike a regular 401
2. After the account is open for 5 years you can withdraw up to the amount of principal without penalty prior to retirement. This is an added safety net feature if you ask me that you don't get from a regular 401.... [Reply]
This market is so ****ing sad right now. Central banks and fiscal policy have royally ****ed things up bad. Hopefully some sort of end is in sight soon.
This is what you get from a "damn the torpedoes" approach to shutting down the world then flushing it with money before things restart. [Reply]
