Money Investing megathread extravaganza - Page 832

**DaFace** · 06:35 PM

A place to talk about investing stuff.

Jenson71 · 03-09-2022, 08:19 PM

I just learned that if you file married separately, you can basically only contribute to a Roth IRA if you make less than $10k in earned income that year. You don't have the same limitation with contributions to a Trad IRA.

So if you insist on filing separately (as I do), you need to fill out a form that recharacterizes your Roth IRA contribution into a Trad IRA contribution for that year.

**Buehler445** · 03-09-2022, 08:21 PM

Quote:

Originally Posted by Jenson71

I just learned that if you file married separately, you can basically only contribute to a Roth IRA if you make less than $10k in earned income that year. You don't have the same limitation with contributions to a Trad IRA.

So if you insist on filing separately (as I do), you need to fill out a form that recharacterizes your Roth IRA contribution into a Trad IRA contribution for that year.

You at least get to deduct the Traditional IRA payments.

Why are you filing MFS? I’ve honestly never heard a good reason not to file MFJ

Jenson71 · 03-09-2022, 08:29 PM

Quote:

Originally Posted by Buehler445

You at least get to deduct the Traditional IRA payments.

Why are you filing MFS? I’ve honestly never heard a good reason not to.

It's the only reason I know of: income based repayment plans for student loans will consider all income if filing jointly; or just the borrower's income if filing separately. So if the spouse/non-borrower has a relatively similar income or greater income compared to the borrower in repayment, it can really "inflate" the monthly payment requirement, to the point where even the advantages of MFJ are negated.

**petegz28** · 03-09-2022, 08:35 PM

WTF would you want to contribute to a Traditional IRA? Assuming you don't make too much to not qualify for a Roth?

**petegz28** · 03-09-2022, 08:37 PM

Quote:

Originally Posted by Buehler445

You at least get to deduct the Traditional IRA payments.

Why are you filing MFS? I’ve honestly never heard a good reason not to file MFJ

Unless you make too much $ or are 100% convinced taxes will be lower when you retire, why would you want a Traditional IRA?

Jenson71 · 03-09-2022, 08:41 PM

Buehler's right, though -- if you don't do the Roth because of this situation, he's pointing out that there's at least this silver lining of the deduction with the Trad.

MTG#10 · 03-09-2022, 08:43 PM

Quote:

Originally Posted by lewdog

I'm getting embarrassed for you and so are others based on the rep messages I'm getting on this thread and your posts. Yikes.

Do you think I really give a shit what some random strangers on the internet agree or disagree with me on. Your need for approval/self validation is what's really embarrassing...yikes is right.

Quote:

Originally Posted by lewdog

Charts mean nothing when it's being squeezed. Charts currently means something when the stock is down 78% from it's all time high.

When I talked about watching the chart way back when (and you can go back and look it up) it wasn't during a squeeze, yet you still ridiculed me...until it came time for you to point to the chart to help your argument. Hypocrite.

Quote:

Originally Posted by lewdog

I made some money on AMC but I'm not dumb enough to be holding it long term like you are. If you were skilled you'd have shifted money to other stocks or just taken profit and stayed out. You have no plan but hoping a "meme" stock goes to the moon (maybe it already has!). Your current average on the stock ****ing sucks!

Again, why the **** are you so concerned about what I do with my money? What I've been doing has worked very well for me, so **** off. My average right now sucks, but do you honestly believe it'll never at least break into the mid-20's again? If so you're a bigger dumbass than you're acting. I've said time and time again, the stock market is a gamble for me. I don't care about meager gains like you, I want to use it to go big or go home. Get over it.

Quote:

Originally Posted by lewdog

And is anyone supposed to be impressed by 12K? That means nothing. Did you make 12k on a $1M account or using 10k? Only one of those is impressive. Talk in percentages so people can even pretend you aren't full of shit.

When I first started investing in the stock market I put $5k in. Grew it to over $80k in less than a year. Have you ever had over a 1500% increase in 8-10 months? The majority of that was GME and AMC. I have taken profits on both many times. I have been down really big at times but they have always come back and I have no doubt in my mind they'll be back again. See, I'm not a paperhanded pussy like you, I can weather the storm for a big payoff down the road.

Here's a great video on Wall Street corruption from Jon Stewart and how the apes have brought attention to it. You stock market boomers are just mad that we're changing how the game is played and you've missed out on the ride because you're too stupid and stubborn to take a risk.

-King- · 03-09-2022, 08:51 PM

Quote:

Originally Posted by MTG#10

Do you think I really give a shit what some random strangers on the internet agree or disagree with me on. Your need for approval/self validation is what's really embarrassing...yikes is right.

When I talked about watching the chart way back when (and you can go back and look it up) it wasn't during a squeeze, yet you still ridiculed me...until it came time for you to point to the chart to help your argument. Hypocrite.

Again, why the **** are you so concerned about what I do with my money? What I've been doing has worked very well for me, so **** off. My average right now sucks, but do you honestly believe it'll never at least break into the mid-20's again? If so you're a bigger dumbass than you're acting. I've said time and time again, the stock market is a gamble for me. I don't care about meager gains like you, I want to use it to go big or go home. Get over it.

When I first started investing in the stock market I put $5k in. Grew it to over $80k in less than a year. Have you ever had over a 1500% increase in 8-10 months? The majority of that was GME and AMC. I have taken profits on both many times. I have been down really big at times but they have always come back and I have no doubt in my mind they'll be back again. See, I'm not a paperhanded pussy like you, I can weather the storm for a big payoff down the road.

Here's a great video on Wall Street corruption from Jon Stewart and how the apes have brought attention to it. You stock market boomers are just mad that we're changing how the game is played and you've missed out on the ride because you're too stupid and stubborn to take a risk.

You're unironically an ape

. Do you post to superstonk too?

**lewdog** · 03-09-2022, 09:35 PM

Quote:

Originally Posted by MTG#10

Do you think I really give a shit what some random strangers on the internet agree or disagree with me on. Your need for approval/self validation is what's really embarrassing...yikes is right.

When I talked about watching the chart way back when (and you can go back and look it up) it wasn't during a squeeze, yet you still ridiculed me...until it came time for you to point to the chart to help your argument. Hypocrite.

Again, why the **** are you so concerned about what I do with my money? What I've been doing has worked very well for me, so **** off. My average right now sucks, but do you honestly believe it'll never at least break into the mid-20's again? If so you're a bigger dumbass than you're acting. I've said time and time again, the stock market is a gamble for me. I don't care about meager gains like you, I want to use it to go big or go home. Get over it.

When I first started investing in the stock market I put $5k in. Grew it to over $80k in less than a year. Have you ever had over a 1500% increase in 8-10 months? The majority of that was GME and AMC. I have taken profits on both many times. I have been down really big at times but they have always come back and I have no doubt in my mind they'll be back again. See, I'm not a paperhanded pussy like you, I can weather the storm for a big payoff down the road.

Here's a great video on Wall Street corruption from Jon Stewart and how the apes have brought attention to it. You stock market boomers are just mad that we're changing how the game is played and you've missed out on the ride because you're too stupid and stubborn to take a risk.

Tl;dr

Did you get your pontoon boat yet?

**petegz28** · 03-10-2022, 07:53 AM

Market set to open down 1%-2%.

Inflation numbers came in high again

Consumer Confidence numbers are worse than during Covid

Talks between Ukraine and Russia falter

**lewdog** · 03-10-2022, 09:10 AM

Quote:

Originally Posted by Halfcan

No, I actually took your advice and let it ride. Most of my stocks will be paying dividends in the next few weeks, so decided to keep everything.

My accounts were up huge today.

Thanks!

Big mistake man.

**petegz28** · 03-10-2022, 09:11 AM

Strange tape this morning...everything down including oil and commodities.

**petegz28** · 03-10-2022, 09:45 AM

I like the chart for WMT right now.....

**petegz28** · 03-10-2022, 10:07 AM

QQQs starting to take it on the chin again....could be another -3% day

scho63 · 03-10-2022, 12:09 PM

Quote:

Originally Posted by ChiliConCarnage

Amazon splitting 20-1. Kind of surprised. I thought Bezos would have to step down as chairman before that'd happen.

My AMZN 401K and RSU's just jumped by factor of 20.

I'm going to boost my 401K contribution and add a bigger percentage into the stock

06-27-2016, 11:23 AM
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $-1633101	Investing megathread extravaganza A place to talk about investing stuff. Last edited by DaFace; 02-19-2021 at 06:35 PM..
Posts: 53,117

03-09-2022, 08:19 PM	#12466
Jenson71 fides quaerens intellectum Join Date: Oct 2003 Location: United States Casino cash: $8330900	I just learned that if you file married separately, you can basically only contribute to a Roth IRA if you make less than $10k in earned income that year. You don't have the same limitation with contributions to a Trad IRA. So if you insist on filing separately (as I do), you need to fill out a form that recharacterizes your Roth IRA contribution into a Trad IRA contribution for that year.
Posts: 15,986

03-09-2022, 08:35 PM	#12469
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $-855873	WTF would you want to contribute to a Traditional IRA? Assuming you don't make too much to not qualify for a Roth?
Posts: 132,186

03-09-2022, 08:41 PM	#12471
Jenson71 fides quaerens intellectum Join Date: Oct 2003 Location: United States Casino cash: $8330900	Buehler's right, though -- if you don't do the Roth because of this situation, he's pointing out that there's at least this silver lining of the deduction with the Trad.
Posts: 15,986

03-10-2022, 07:53 AM	#12475
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $-855873	Market set to open down 1%-2%. Inflation numbers came in high again Consumer Confidence numbers are worse than during Covid Talks between Ukraine and Russia falter
Posts: 132,186	1 0

03-10-2022, 09:11 AM	#12477
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $-855873	Strange tape this morning...everything down including oil and commodities.
Posts: 132,186

03-10-2022, 09:45 AM	#12478
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $-855873	I like the chart for WMT right now.....
Posts: 132,186

03-10-2022, 10:07 AM	#12479
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $-855873	QQQs starting to take it on the chin again....could be another -3% day
Posts: 132,186