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02-28-2017, 09:05 AM | #751 |
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I'll start by saying I know this topic has probably been covered multiple times, but I don't feel like picking through 50 pages.
Recently the wife and I started considering the possibility of early retirement. I think we could have the funds in place to do it at say 55 years of age. The problem (at least I see it as a problem) is that all of what we've saved so far is in 401k accounts which aren't accessible without penalties until we are of retirement age (correct?). So my first question is, what do I do about that? Do I start to shrink my 401k contributions and open a personal trading account and invest in similar mutual funds that our 401ks are in, or are there better things to do? Also, I want to dabble (a couple thousand $) in trading. What is the best DIY online service? From what I've read so far, TD Ameritrade and Charles Schwab are highly rated. |
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02-28-2017, 09:12 AM | #752 | |||
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It depends on your financial situation, of course, but you can view this as a 4.5 year period for your 401(k) to continue to grow while you are relying on other savings. That money needs to last the rest of your life, so the later you tap it, the better, in some respects. Quote:
Quote:
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02-28-2017, 09:46 AM | #753 |
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Bitcoin and Ethereum are where it's at
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02-28-2017, 10:33 AM | #754 | |
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Best MJ stock I have found lately- they are actually making money. All of their products are legal in all 50 states. |
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02-28-2017, 10:38 AM | #755 | |
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Your best bet would be to have them set you up a Roth IRA. Put in what you can afford right now- and then start maxing it out when you can. |
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02-28-2017, 11:07 AM | #756 | ||
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Quote:
Quote:
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02-28-2017, 03:59 PM | #757 | |
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What about an ordinary trading account? Obviously the contributions are post-tax. Do you get taxed on the growth every year? |
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02-28-2017, 04:03 PM | #758 | |
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Quote:
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02-28-2017, 04:23 PM | #759 |
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Want to make a nice investment that will cash out well in the next few years?
Aclaris Therapeutics and Portola Pharmaceuticals. You're welcome. |
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02-28-2017, 05:06 PM | #760 |
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02-28-2017, 06:20 PM | #761 | |
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You'd owe on any dividends possibly that get paid out through the year. Qualified dividends are typically at long term cap gains rates |
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02-28-2017, 06:33 PM | #762 | |
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UBQU which is trading at $.02 a share?
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02-28-2017, 07:58 PM | #763 | |
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Pretty good breakdown here. https://www.fool.com/retirement/2016...-for-2017.aspx |
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03-01-2017, 08:33 AM | #764 | ||
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Quote:
Quote:
An ordinary brokerage account will generate (1) capital gains on sales of stock or mutual funds or whatever, if any are sold, and (2) dividend income. Capital gains can either be long term or short term. Long term capital gains are gains on securities sold after you've held hte stock for at least one year. They are typically taxed at 15%, but very high earners can see a rate of 20% on cap gains I believe. Short term capital gains are gains on securities held for one year or less, and are taxed at ordinary income. Your ordinary income tax rate will very typically be higher than the capital gain rate. Go here to see what the highest marginal rate looks like under various scenarios. https://taxfoundation.org/2017-tax-brackets/ (note: 2017 income tax rates subject to change based on changes in law by the new Congress/Administration, so YMMV). Dividends also come in two flavors, qualified and not qualified. Most dividends are qualified, and are taxed at capital gains rates. Non-qualified dividends are taxed at ordinary income rates.
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03-01-2017, 08:34 AM | #765 | |
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Quote:
I really should've read through the thread before replying.
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