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01-30-2018, 10:59 AM | #1666 |
Andy Reid Supporter
Join Date: Apr 2012
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About to pay off our last student loan payment, which is 13.5k. Gonna be hella nice to have $284 extra a month and not have any debt aside from the mortgage.
Still not comfortable with my 6 month emergency fund. I am pretty close currently and after paying off this last bit of debt I’ll have enough left over for 3 months of emergency funds. Hope to get that up to 6 by Fall. |
Posts: 48,132
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01-30-2018, 11:05 AM | #1667 |
MVP
Join Date: Mar 2004
Location: Helena, MT
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Posts: 18,627
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01-30-2018, 11:59 AM | #1668 | |
In Search of a Life
Join Date: Jul 2009
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Quote:
It sucks that it’s taxable but I’ll throw enough deductions out there to hopefully get it down. Luckily I haven’t signed anything yet |
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Posts: 82,630
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01-30-2018, 01:47 PM | #1669 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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You can come up with 40 grand of deductions?
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Posts: 57,870
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01-30-2018, 02:22 PM | #1670 |
In Search of a Life
Join Date: Jul 2009
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Posts: 82,630
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01-30-2018, 04:40 PM | #1671 | |
MVP
Join Date: Aug 2005
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Quote:
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Posts: 14,603
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01-30-2018, 04:54 PM | #1672 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Sure, if you're able to see into the future, that's a great approach. In reality, almost everyone sucks at timing the market.
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Posts: 52,463
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01-30-2018, 05:50 PM | #1673 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
People talked about moving money and an impending correction around 20 in the Dow. People did move money. Here we sit at 26. Those people missed 30% gains. Timing the market in retirement accounts isn’t worth it. Decide on your allocation preference and rebalance 1-2x per year. |
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Posts: 46,122
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01-30-2018, 07:59 PM | #1674 | |
Veteran
Join Date: Sep 2011
Location: MO
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Quote:
This is good advice. Sent from my iPhone using Tapatalk |
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Posts: 1,528
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01-30-2018, 09:54 PM | #1675 | |
Veteran
Join Date: Oct 2008
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Quote:
Worse yet are the panickers who sell at the bottom and stay in cash. Emotional investing is bad investing; cooler heads prevail. |
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Posts: 1,606
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01-30-2018, 10:21 PM | #1676 | |
Fish are scared of me
Join Date: Nov 2001
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Quote:
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Posts: 40,637
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02-02-2018, 12:20 PM | #1677 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Can someone explain to me who and what estimated taxes should be paid through the year from selling stock? I have done lots of reading and it’s comfusing who must pay through year and who can just wait to pay these when they file their taxes for the year?
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Posts: 46,122
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02-02-2018, 01:19 PM | #1678 | |
MVP
Join Date: Aug 2005
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Quote:
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Posts: 14,603
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02-02-2018, 02:10 PM | #1679 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Here is some decent explanation of underpayment rules. Underpaid is different than owing. Underpaying means the IRS is going to fine you. Owing just means you have a liability but no penalties. Basically it says that if you owe a grand or less you're good (total tax - withholding). Or you've paid the lesser of 90% of total tax due OR 100% of PY tax liability. And that is assessed capital gains. Gains in a retirement fund are not taxed. So you're just looking at whatever you've sold outside of retirement. I'd say if you are withholding enough for you and your wife, and unless you have a SHITLOAD of gain, you're probably good. |
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Posts: 57,870
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02-02-2018, 02:18 PM | #1680 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
All speculation of course, that's why they call it speculating, not hedging, but yeah. There shouldn't be any other cost. |
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Posts: 57,870
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