Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[lewdog]

Originally Posted by petegz28

Roth 401 gives you 2 significant advantages...

1. You will not pay taxes on anything when you withdraw unlike a regular 401

2. After the account is open for 5 years you can withdraw up to the amount of principal without penalty prior to retirement. This is an added safety net feature if you ask me that you don't get from a regular 401....

I did know that but I didn't know this.

Another benefit of a Roth IRA....you aren't required to take minimum distributions like other retirement accounts at a certain age.

That's huge and I honestly had no idea.

[Buehler445]

Originally Posted by lewdog

I did know that but I didn't know this.

Another benefit of a Roth IRA....you aren't required to take minimum distributions like other retirement accounts at a certain age.

That's huge and I honestly had no idea.

I didn't know that ether.

You get my last PM?

[lewdog]

Originally Posted by Buehler445

I didn't know that ether.

You get my last PM?

Yes I did. I really appreciate you working through that with me. Thank you very much. I'm going to do as you suggested.

[Buehler445]

Originally Posted by lewdog

Yes I did. I really appreciate you working through that with me. Thank you very much. I'm going to do as you suggested.

Get that bag son.

[ChiefChoop]

Originally Posted by lewdog

I did know that but I didn't know this.

Another benefit of a Roth IRA....you aren't required to take minimum distributions like other retirement accounts at a certain age.

That's huge and I honestly had no idea.

The age for required minimum distribution is 72. You don't think you'd want to take the minimum out of it by age 72?

[Buehler445]

Originally Posted by ChiefChoop

The age for required minimum distribution is 72. You don't think you'd want to take the minimum out of it by age 72?

Not if you have Lewdog money

[lewdog]

Originally Posted by ChiefChoop

The age for required minimum distribution is 72. You don't think you'd want to take the minimum out of it by age 72?

Hard to know. I just don't like the fact that taking RMD is required, even if you aren't going to use the money. My parents have great pensions and in a few years will be required to start RMDs. They currently live just fine off their pensions and it's absurd they will be required to take RMDs, pay taxes on it and not even need it.

Just hard to know where life will take you as I'm only 37. I like the idea of having a retirement account that will not be required to be touched, while I could just draw from my 401k instead when required.

[lewdog]

Originally Posted by Buehler445

Not if you have Lewdog money

Well that's not true. If it was true, I would be over the income limits to contribute to a Roth.

[BigBeauford]

China refusing to release their GDP. Hoooo boy.

[scho63]

Originally Posted by BigBeauford

China refusing to release their GDP. Hoooo boy.

Can't make Xi look like an ass while he gives himself another 5 year term.

[Buehler445]

Originally Posted by lewdog

Well that's not true. If it was true, I would be over the income limits to contribute to a Roth.

Damn, I was hoping to slip that one by you.

[petegz28]

Originally Posted by lewdog

I did know that but I didn't know this.

Another benefit of a Roth IRA....you aren't required to take minimum distributions like other retirement accounts at a certain age.

That's huge and I honestly had no idea.

Roth is the way to go if you qualify. The only reason not to go Roth is if you are highly confident you will pay less in taxes later than you will now.

[lewdog]

Changes for 2023.

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $22,500, up from $20,500. The limit on annual contributions to an IRA increased to $6,500, up from $6,000.

https://www.irs.gov/newsroom/401k-li...m%20%246%2C000.

[scho63]

This country has a massive savings and retirement shortfall. It's gotten better but still poor, especially in minority households.

I'm all for anything government can encourage, endorse and help to get YOUNG people saving and investing money.

If the stupid ****s would stop with all the wokeness PC sex tranny shit and focus on Financial security and focus on interest, growth, stock market, dangers of debt, how to balance a checkbook, how to read a balance sheet, how to start a business, our country would benefit tremendously.

The same goes for health and nutrition.

[Buehler445]

Originally Posted by scho63

This country has a massive savings and retirement shortfall. It's gotten better but still poor, especially in minority low income households.

I'm all for anything government can encourage, endorse and help to get YOUNG people saving and investing money.

If the stupid ****s would stop with all the wokeness PC sex tranny shit and focus on Financial security and focus on interest, growth, stock market, dangers of debt, how to balance a checkbook, how to read a balance sheet, how to start a business, our country would benefit tremendously.

The same goes for health and nutrition.

Agree except bolded.

At least they’re addressing the limits. They didn’t for a long time and deserve credit for it.

I was thinking recently, when is the last time we had a protracted recession? It’s goddamn .com bubble/9-11. 08 housing crisis was severe but not protracted - shit was right back up there 8 months later. It is looking like this one is going to be with us awhile. So OK, shit 23 years ago. It’s hard to wrap your mind around how many people in the market today have not had exposure to a protracted recession in the stock market. Hell, I was paying attention but I didn’t have any money in.

That is the scary thing to me.