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08-19-2016, 07:31 PM | #361 | |
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Quote:
I love the idea of a nicely finished townhouse when you are older and kid free. That's definitely more tastefully done than that second house you posted. I forget, have you lived here before?
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08-20-2016, 12:26 PM | #362 |
Politically Incorrect
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From 1996 until 2001 I spent an enormous amount of time in Scottsdale and was contracted to buy that new house in 1998 in Pinnacle Canyon at the Troon North Golf Course. Put up $25,000 had mortgage approval, had pool designed, had house moved on pie shaped lot to maximize one side and then 20 days before construction began the market crashed. Then our company's funding dried up and the rest was history. The market in Scottsdale was so strong that the builder refunded 100% of my deposit and resold the place for an extra 40K.
I know the Scottsdale real estate market as good as anyone. Look at it every day for last 17 years. My house there went from $284,000 to $715,000 in 3 1/2 years AFTER I turned it back. Bad timing for sure.
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08-22-2016, 10:25 AM | #363 |
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WTF? I missed this story. You doing this out of your office that someone owns or you own? Does anyone there know about it or say anything?
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08-22-2016, 10:55 AM | #364 | |||
Kind of a mod
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08-29-2016, 08:17 PM | #365 |
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Wanna know how many here use their Roth also as an emergency savings vehicle like this article suggests since contributions can be withdrawn tax/penalty free? I see this posted a lot lately and it makes sense for many I would think after you have a savings account emergency fund but still wanna have an option to stay relatively liquid without parking in a savings account and getting nothing. Any of you do this? What kind of funds do you use?
https://blog.mint.com/saving/does-us...d-idea-052012/
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08-29-2016, 08:24 PM | #366 | |
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Quote:
https://www.irs.gov/publications/p59...link1000231061 |
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08-29-2016, 08:27 PM | #367 | |
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Copied from your link: A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements. It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and
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08-29-2016, 08:27 PM | #368 |
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08-29-2016, 08:30 PM | #369 |
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Read the link I posted. I see no one making mention of any penalty on contributions, which is why people are doing this.
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08-29-2016, 08:37 PM | #370 | |
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Some people are parking some extra money, in something like a short term bond fund or money market in hopes of gaining a bit of tax free money but also something low risk with fairly immediate access to cash in an emergency. People are claiming this is in addition to a taxable emergency fund such as a savings account which generates little interest but is also taxed. Build this small emergency fund in your Roth to something like an extra $10k over the duration of a few years and then start putting your entire yearly contribution into a Roth back to all retirement funds. Gives you a little bit of extra liquidity without being taxed if you had to touch it later, with the hope that you don't have to. I guess that's the point?
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08-29-2016, 08:40 PM | #371 | |
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08-29-2016, 08:44 PM | #372 | |
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You can invest it in the stock market as well. That said, I would rather keep my Roth contributions protected and earning moar tax free gains, so maintaining some healthy savings balance seems prudent. |
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08-29-2016, 08:56 PM | #373 |
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I am where you are at mentally. We have a good chunk sitting in savings for emergencies, 6 months roughly. I keep thinking it should be higher but we also don't max our Roth's yet. I am wondering if I should take an extra $2k at the end of the year and max out our Roth's into a low risk fund like they are suggesting for a bit added emergency funds?
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08-29-2016, 09:05 PM | #374 | |
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Did you spell moar like that trying to troll me?
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08-29-2016, 09:06 PM | #375 |
"You like to drink?"
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I invested roughly $300 in blackjack and roulette this weekend. Get at me.
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