|
05-20-2020, 08:23 PM | #4921 | |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
|
Quote:
Don't say I didn't warn you. |
|
Posts: 129,608
|
0 1 |
05-20-2020, 08:27 PM | #4922 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
|
Quote:
|
|
Posts: 46,112
|
05-21-2020, 05:58 PM | #4923 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
|
The level of pessimism being bandied about is pretty surreal. Markets normally never go down when things are this pessimistic.
Lots of good value in the market. I bumped up my 401K contributions to the MAX at Amazon, including a good chunk going into AMZN stock. "Bull Markets begin on Pessimism, Grow on Skepticism, Flourish on Optimism and Die on Euphoria." |
Posts: 52,396
|
05-21-2020, 06:35 PM | #4924 | |
Fish are scared of me
Join Date: Nov 2001
|
Quote:
|
|
Posts: 40,635
|
0 1 |
05-21-2020, 06:36 PM | #4925 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
That was foolish. |
|
Posts: 57,834
|
05-21-2020, 09:28 PM | #4926 |
MVP
Join Date: Jan 2012
|
So i just got a $2900 check from the stimulus bill I guess. I dont need it personally but I have a 16 year old daughter and thought I would put this in as a starter sum for investments for her. Is she too young for a ROTH IRA? What kind of account would some of you do for your kid? We already have an established college fund for her.....I figured I wanted to start her on a retirement or long term investment fund.
|
Posts: 6,169
|
05-21-2020, 09:36 PM | #4927 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
|
Quote:
|
|
Posts: 46,112
|
05-22-2020, 08:34 AM | #4928 |
I'll be back.
Join Date: Nov 2002
|
Last chance to get in on VTIQ at sub 26 level.
Train is leaving station. |
Posts: 287,314
|
05-22-2020, 12:48 PM | #4929 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Quote:
If she doesn’t then a traditional IRA would be fine. You can always roll that to a Roth later, it’s just the value of the traditional IRA will be taxable on the distribution. Unless they change the rules in the next 50 years before she takes it out. That’s a hell of a thing you’re doing for your daughter. |
|
Posts: 57,834
|
05-22-2020, 12:59 PM | #4930 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
|
Quote:
https://www.nerdwallet.com/blog/inve...ds-a-roth-ira/ |
|
Posts: 46,112
|
05-22-2020, 01:44 PM | #4931 |
MVP
Join Date: Jan 2012
|
Thanks for the input. She doesnt work for taxable income yet just mostly dog and kid care for neighbors but she will actively look for work when this virus stuff settles down.
|
Posts: 6,169
|
05-22-2020, 03:16 PM | #4932 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
|
Well she can sure report the stuff she’s doing and if push comes to shove you can give her part of it for non-employee comp, send her a 1099, and then have her deposit it in there. I can’t ever remember the kids stuff but at 2900, I don’t think any of it will be over the standard deduction
|
Posts: 57,834
|
05-22-2020, 04:57 PM | #4933 |
I'll be back.
Join Date: Nov 2002
|
|
Posts: 287,314
|
05-23-2020, 06:18 PM | #4934 |
I'll be back.
Join Date: Nov 2002
|
I'm telling you guys. Stay woke.
|
Posts: 287,314
|
05-23-2020, 06:47 PM | #4935 |
Fish are scared of me
Join Date: Nov 2001
|
LOL
|
Posts: 40,635
|
2 0 |
|
|