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#13201 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $430477
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Posts: 40,721
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#13202 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Quote:
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. |
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Posts: 46,019
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#13203 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Posts: 57,556
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#13204 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Posts: 46,019
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#13205 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Posts: 57,556
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#13206 |
Banned
Join Date: Sep 2022
Casino cash: $-199500
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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?
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Posts: 86
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#13207 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Posts: 57,556
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#13208 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Quote:
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. |
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Posts: 46,019
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#13209 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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Posts: 46,019
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#13210 |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
Casino cash: $1896717
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China refusing to release their GDP. Hoooo boy.
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Posts: 14,404
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#13211 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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Can't make Xi look like an ass while he gives himself another 5 year term.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,587
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#13212 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1014734
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Posts: 57,556
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#13213 |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $1494127
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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.
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Posts: 129,239
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#13214 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $621900
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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. |
Posts: 46,019
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#13215 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1471110
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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.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 51,587
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