Girardcorp
Well-known member
and just like that my gains in Netflix vanished... woo
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Start diversifying your income buckets... The 401k will all be taxable money when you retire. As Aaron said, contribuing to a Roth IRA (tax free withdrawals at 59.5) is a good way to invest also. Mutual funds where you don't have to think about it much can be had for as little as $50/mo automatic investment. Find yourself a low cost/low expense fund with an appropriate risk tolerance.Talking about the stock market, earning per share and all that goes into the market. I get it mostly, but I don't have to cash to play and that sucks. I'm in my matching 401K and work, and I put in $100 a month, but I don't feel like that's enough. Granted, I'm young and I'll ride it out until retirement, and that's probably around 25 to 30 years out so I have time. I'm just thinking, what else could I do with the limited side money that I DO have, and that's really limited.
I had my grandma buy LGND at 93 not long ago...it just hit $125 and she refuses to sell it. She's very stubborn.... ? Her catch phrase is "Let Er Ride"!and just like that my gains in Netflix vanished... woo
I had my grandma buy LGND at 93 not long ago...it just hit $125 and she refuses to sell it. She's very stubborn.... Her catch phrase is "Let Er Ride"!
Yeah the past two I've had her buy popped! ZS Pharma doubled bc it's being bought out and LGND seems to have a great portfolio of products now and in the future. I like to take profits though. Haha!Nice. I haven't flirted with biotech in 10 years.
Talking about the stock market, earning per share and all that goes into the market. I get it mostly, but I don't have to cash to play and that sucks. I'm in my matching 401K and work, and I put in $100 a month, but I don't feel like that's enough. Granted, I'm young and I'll ride it out until retirement, and that's probably around 25 to 30 years out so I have time. I'm just thinking, what else could I do with the limited side money that I DO have, and that's really limited.
Nice. I haven't flirted with biotech in 10 years.
Goof stuff, but thanks for ruining my day! lolMost people need to save younger and try to save 10-15% of their income to make the retirement math work.
$100 per month into a 401K with 100% company matching is a good start but here is how the math works out: you will have $357,000 at a 9% rate of after 30 years. After taxes and inflation that's only about $150,000 in todays dollars. At a safe rate of withdrawal of 3.5% that is $437 per month to spend in retirement.
Put another way, if someone was retiring today with what most would consider a lot of money, let's say $1.5 million, that would safely provide about $4,300 per month worth of income.
Goof stuff, but thanks for ruining my day! lol
Seriously though, I knew it would need to be more but what is the max per year you cab put in? Is there a max?
There are AGI limits beyond which the benefits of a Traditional or Roth contribution phase out, and there are separate limits on 401(k) contributions for "highly compensated employees." If either of these applied to you, you would know about it. These are designed to prevent the 1% from getting richer (where is the emoticon for tongue in cheek?)
Use the backdoor Roth for a lot of our clients. Certainly a little complexity to it, but if you qualify and are in the right tax bracket, fantastic option.Of course you can get past the AGI limits by what is called a "backdoor Roth IRA" which means contributing to a traditional IRA and converting it to a Roth IRA. My wife and I do this each year and it's completely legal but a little more complex.
Use the backdoor Roth for a lot of our clients. Certainly a little complexity to it, but if you qualify and are in the right tax bracket, fantastic option.
There are some stipulations so work with your cpa to make sure you qualify. Worth it if you can though.Something I may need to look into
There are some stipulations so work with your cpa to make sure you qualify. Worth it if you can though.
Cash is king and always nice to have available....especially when life or thp events happen ?Yeah after this tax season we are gonna chat about how to bring down taxable income, invest more for retirement but leave me with some cash on hand
Yep...Hey Girard, remember when we talked about NFLX a few weeks ago and I said it was complex. It wasnt.
Oh NFLX. Looks like I'm stuck with you a bit longer.
It is an interesting one for sure. I am surprised with more people cutting the cord everyday, that their earnings aren't reflecting that.