|
![]() |
#13171 |
Snacks Are Under My Apron
Join Date: Jan 2006
Location: The Edge
Casino cash: $1841660
|
Vehicle, chicks and other party favors
__________________
Free DeBerg HayWire Greatest Almost Mod Ever In big nasty kcnut we trust ![]() |
Posts: 24,436
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#13172 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
|
Quote:
The job will likely offer you a 401K. Hopefully with a ROTH option. If they don’t or it is a traditional 401K, start a self directed ROTH IRA. Max out ROTH investment. If it is a 401K with a ROTH option I believe the max is 20,500. If you have To use a ROTH IRA the maximum is 6,000. If you can max out the Roth investment then put the rest (or max out) a traditional 401K or traditional IRA. In those funds, either buy a S&P index fund or a Target Dated Retirement Fund. Do those things first. Operate the cheapest reliable vehicle, preferably paid for with cash (**** car payments). I honestly don’t know whether to tell you to buy a home in this lending/real estate environment. I’d lean no, especially if you currently have no retirement savings. Congrats man. Make that money. |
|
Posts: 57,556
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#13173 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
Quote:
Buehler is spot on so the only thing I'll add is that you should be saving at minimum 10% of your salary for retirement but 20% is preferable, especially if you're behind on retirement savings. But first you need an emergency fund like mentioned and you also need to be saving for a new car, so it's ok to start on the lower end of the retirement savings spectrum, but once those are accomplished you'll need to ramp up your amount. With every raise, add 1-2% to your retirement savings percentage. |
|
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#13174 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $430477
|
Now you can afford Monkeypox vaccine
|
Posts: 40,721
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13175 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
You know what’s going to be nice?
When I’m not paying $800/month for preschool next year!!! |
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13176 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
Wow, I thought you were older than that.
__________________
Active fan of the greatest team in NFL history. |
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#13177 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
|
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13178 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
We are currently at #4 on the worst annual returns in history since world war 2, not a particularly good spot to be in and if we don't rally in Q4 we may get higher on this list.
2008..... -37 1974..... -26.47 2002..... -22.1 2022..... -21.05 1973..... -14.66 2001..... -11.89 1957..... -10.78 1966..... -10.06 2000..... -9.1 1962..... -8.73 1969..... -8.5 1946..... -8.07 1977..... -7.18 1981..... -4.91 2018..... -4.38 1990..... -3.1 1953..... -0.99 1960..... 0.47 |
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13179 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
Quote:
__________________
Active fan of the greatest team in NFL history. |
|
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13180 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
Help my understand the limits on a Roth IRA and Roth 401k if I have both of them. Can I max out my regular Roth IRA at $6k AND contribute to a Roth 401k too since the limit on 401ks ($20,500) is different?
|
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13181 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
|
Quote:
You can contribute: 20,500 to a 401k (there is only 1 allowed per employer so type doesn't matter) 6,000 in a ROTH IRA 6,000 in a Traditional IRA for a total of 32,500 in tax sheltered retirement savings. |
|
Posts: 57,556
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#13182 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
|
Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income.
|
Posts: 46,019
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13183 |
MVP
Join Date: Oct 2006
Location: West of the Equator
Casino cash: $609901
|
Imagine being a stock broker in '73 and '74. All individuals had to go through a broker and often were advised by that broker. Probably a whirlwind of career changes at that point.
|
Posts: 13,691
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
Tribal Warfare |
This message has been deleted by Tribal Warfare.
|
![]() |
#13184 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
I did a study of savings for a client once and I interviewed a bunch of investors about issues related to picking an advisor. It was kind of funny because they all knew that the market has ups and downs and they all said that they blame the financial advisor if they lose money.
__________________
Active fan of the greatest team in NFL history. |
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#13185 | |
MVP
Join Date: Mar 2019
Location: KC
Casino cash: $3930400
|
Quote:
|
|
Posts: 7,370
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() ![]() |
|
|