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Started By
Message
1
Posted on 6/21/18 at 3:01 pm to GoIrish02
quote:
we had over 5 workers per SS recipient, now we have less than 3 per recipient
Americans are just living too long. Easy solution...more immigration! No shortage of people....just a shortage of young, working age people.
Posted on 6/21/18 at 3:01 pm to Thib-a-doe Tiger
quote:
Nothing wrong with it if you’re getting it at a market discount and you keep it to a small %
Most people don’t keep it to a small % is the problem
If you get it at a discount, sure, but you can unload it after a waiting period usually. The double dipping just doesn't make sense from a risk standpoint. I know you know that, but many don't. The next guy I meet from Shell or Chevron that doesn't have 50+% of his 401k in company stock will be the first.
Posted on 6/21/18 at 3:02 pm to Thib-a-doe Tiger
quote:
Or a lifetime payout vs 10,20,30 year payout. They can be set up tons of different ways.
Yeah I doubt it was just some arbitrary 20% haircut. More likely a misunderstanding of the original plan.
Posted on 6/21/18 at 3:05 pm to slackster
Oilfield and banking are terrible for that.
The Roth debate always intrigues me. Nobody knows what tax rates will be in the future. An all Roth retirement plan never made sense to me. What if taxes are relatively the same 30 years down the road when I retire?
The Roth debate always intrigues me. Nobody knows what tax rates will be in the future. An all Roth retirement plan never made sense to me. What if taxes are relatively the same 30 years down the road when I retire?
This post was edited on 6/21/18 at 3:06 pm
Posted on 6/21/18 at 3:11 pm to Thib-a-doe Tiger
quote:
The Roth debate always intrigues me. Nobody knows what tax rates will be in the future. An all Roth retirement plan never made sense to me. What if taxes are relatively the same 30 years down the road when I retire?
Exactly or Congress can change the tax treatment. You need to have tax diversification with traditional and Roth IMO.
Posted on 6/21/18 at 3:12 pm to Thib-a-doe Tiger
Yeah I think it's important to have tax flexibility down the road.
Posted on 6/21/18 at 3:12 pm to lnomm34
quote:I know that he lost a good chunk in 2008 when the stock market crashed and I'm not sure how long he was in it
61 years old working in plants his whole life and only had $300k in his 401k??
Posted on 6/21/18 at 3:13 pm to BowDownToLSU
quote:
know that he lost a good chunk in 2008 when the stock market crashed and I'm not sure how long he was in it
Should have had 0 effect if he didn’t mess with it
Posted on 6/21/18 at 3:14 pm to OleWarSkuleAlum
I just don't see any way Roths will become taxed. Maybe new contributions, but I believe previous balances and earnings are safe. Just my humble opinion.
Posted on 6/21/18 at 3:16 pm to slackster
quote:
just don't see any way Roths will become taxed. Maybe new contributions, but I believe previous balances and earnings are safe. Just my humble opinion.
I don’t think so either, but I’m sure there’s a bunch of ticky tac bullshite they could add into it if they needed to
Posted on 6/21/18 at 3:30 pm to Thib-a-doe Tiger
quote:
What if taxes are relatively the same 30 years down the road when I retire?
Then it should be identical to a traditional IRA in terms of what you walk off with.
Say you pay 10% in taxes today. Let's say you earn $1000, pay your 10% in taxes up front, and invest the remaining $900 in a ROTH that doubles in value. You then have $1800 free and clear of taxes upon withdrawal.
On the other hand, let's say you take the same $1000 earnings and invest it in a traditional IRA before you are taxed on the income. You have the full $1000 to invest and it, too, doubles in value. It's worth $2000 when you're ready to withdraw. Uncle Sam steps in though, and shaves his 10% off the top at withdrawal. You walk away with... $1800.
This post was edited on 6/21/18 at 3:34 pm
Posted on 6/21/18 at 3:33 pm to PortHudsonPlaya
There is not a doubt in my mind they will take over the management of all private investment accounts to protect the citizens. They've proposed it in the past and if we keep on the left trend it will happen faster than we think.
There will be another market correction and folks who are not savvy with their investments will complain they can't retire and this will be the opportunity to take them over and guarantee (sound familiar) a modest 3% return.
BTW - they need to money to cover the pension obligations and shortfalls in other govt social programs.
There will be another market correction and folks who are not savvy with their investments will complain they can't retire and this will be the opportunity to take them over and guarantee (sound familiar) a modest 3% return.
BTW - they need to money to cover the pension obligations and shortfalls in other govt social programs.
Posted on 6/21/18 at 3:39 pm to PortHudsonPlaya
They can't take away what you don't have in the first place
Posted on 6/21/18 at 3:41 pm to theCrusher
quote:
they will take over the management of all private investment accounts
And my money will be gone, gone, gone before that cutover date. I’ll take the penalty and the tax hit.
I already have my estimated cashout amount calculated in a tracking spreadsheet. After watching what the government has been doing to track assets of U.S. citizens during the W and Obama administrations, I’d love to be able to take mine off their radar anyway.
This post was edited on 6/21/18 at 3:46 pm
Posted on 6/21/18 at 3:58 pm to The Torch
quote:
I'm getting a divorce, my wife has never saved a penny and I have 20+ years building my 401K up.
Every married man should have a secret insurance fund, baw.
Posted on 6/21/18 at 4:09 pm to slackster
Yes, age. They were "guaranteed" an amount after 40 years, but now they are deducting 20% for not being 62.
If she doesn't take the deal, we don't get the medical insurance deal, which is a great plan that we don't want to give up.
It's not the amount so much, as the blatant fricking over I believe State Farm is doing to their lifelong employees.
If she doesn't take the deal, we don't get the medical insurance deal, which is a great plan that we don't want to give up.
It's not the amount so much, as the blatant fricking over I believe State Farm is doing to their lifelong employees.
Posted on 6/21/18 at 4:12 pm to castorinho
i knew better than to leave thatPosted on 6/21/18 at 4:13 pm to slackster
Pretty much the deal.
The forced out part is what's got her pissed.
The forced out part is what's got her pissed.
Posted on 6/21/18 at 4:57 pm to PortHudsonPlaya
naw my money is cash
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