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#76 | ||
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Quote:
EDIT: Sorry, yes, looks like you have it right. Perhaps more reader-friendly version below: Quote:
Last edited by Amnorix; 06-28-2016 at 07:24 AM.. |
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Posts: 43,125
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#77 |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Note that, generally, a Roth IRA is using after-tax money, and traditional IRAs are using PRE-tax money, which can be a significant advantage.
But you should know/understand the differences and consider which makes sense for you. Alot of this decision-making is tax driven. |
Posts: 43,125
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#78 | |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
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Quote:
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Posts: 16,006
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#79 | |
Stroking to the SB Champs!
Join Date: Aug 2000
Location: Flatlands of Kansas
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Quote:
https://en.wikipedia.org/wiki/SEP-IRA |
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Posts: 39,652
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#80 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Quote:
You may already know all this, but perhaps not, or perhaps someone else doesn't: Can I ask if you have a 401(k) option? Especially one that has matching? You don't even have to answer -- just let me say that any kind of matching is FREE money, and you should take it. Even if there is no match, you should invest in the 401(k). Here's why. Example A (no 401(K) being used): Gross pay of $2,000 (other than non-tax deductions like health insurance etc). State and federal taxes reduce that by, say, 20%. Take home $1,600. Example B (with 401(K): Gross pay of $2,000 (other than non-tax deductions like health insurance etc.). Put $200 per week into 401(k). Gross pay now $1,800. Pay 20% ($360), so take home is $1,440. $1,440 plus the $200 in the 401(k) is $1,640. You're $40 ahead. But here's the real kicker-- the $40 grows tax free in whatever investment you put it in. You basically can't beat tax-free deductions plus tax-free growth compounding over time. It along with home ownership are the two easiest paths to building wealth in the U.S. due, largely, to our existing tax laws. |
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Posts: 43,125
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#81 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
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Quote:
Yes, I saw before I saw your post, and edited my post. Thanks for correcting me however. He had it right. |
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Posts: 43,125
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#82 | ||
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Assets = Liabilities + Equity. Organizing it any other way can lead to material misstatement. Quote:
I asked him a couple years ago how the hell he managed to survive that. His answer was legitimately, "I don't know." |
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Posts: 57,486
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#83 | |
MVP
Join Date: Apr 2001
Location: Iowa
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Quote:
Also not sure what's high risk about it. |
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Posts: 13,873
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#84 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Posts: 51,535
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#85 |
Consuming CP souls
Join Date: Oct 2005
Location: U.S.A.
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Freighters had more but loaned it to the Faid to sign Sean S.
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Posts: 70,057
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#86 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Just calculated my net worth.....
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Posts: 51,535
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#87 | |
Constable of Untruths
Join Date: Oct 2010
Location: Wichita
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Quote:
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Posts: 15,165
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#88 |
Starter
Join Date: Sep 2013
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Main stocks I'm in: NVAX (well run company, looking for a run up soon) and AMDA ( FDA approval shortly, much riskier, sell on any major pop). Also swing trade bombardier usually once a week from low 1.90's to high 1.90's and make my 5% and repeat process. I'm a student so I'm not playing with a ton of cash (under 10k) but I am making money.
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Posts: 715
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#89 |
In Search of a Life
Join Date: Aug 2005
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Lots of Hillbilly millionaires on the Planet.
I think I am going to liquidate my portfolio and buy a field full of junk cars and let them sit until some sucker buys them-that will be a great investment when my property tax bill hits in December. 30 cars at $200 a year property tax=$6,000 loss per year on a depreciating assets. |
Posts: 43,200
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#90 | |
In Search of a Life
Join Date: Aug 2005
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Quote:
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Posts: 43,200
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