Originally Posted by rmcelwee
(Post 809468)
http://investing.curiouscatblog.net/...sus-saving.png (the steep drop on the red line is people defaulting on their loans) http://cdn.theatlantic.com/static/mt...x314-49343.png http://3.bp.blogspot.com/-ibu2Q2sZy8...40-to-2010.gif |
Originally Posted by Gearhead_318
(Post 809483)
At least with a house theres equity.
Is that why I went into debt, and emptied out my six figure bank account when I sold mine? :jerkit: Oh yeah, you love bubbles... |
Originally Posted by Gearhead_318
(Post 809483)
At least with a house theres equity.
I recommend people only buy a house if they believe they will live there for a long time - which would entail a strong sense of job security and roots in that community. The biggest problem with houses today (and I expect in the near to intermediate future) is lack of liquidity. It takes away a lot of mobility for young people (i.e. changing jobs, moving to new locations, etc).
Originally Posted by Ben
(Post 809425)
I do use the plastic, but I pay it off each month. Cards can offer additional protections against using cash plus you get points. Any purchases made on revolving credit are paid off that month, then the points are accumulated and eventually redeemed. There is no extra cost to me, and we get something cool out of it over time.
Originally Posted by Braineack
(Post 809548)
I don't see a problem, we are just doing the same thing our government does and teaches us.
|
yeah but we cant print fake money :)
|
nest egg
Originally Posted by Braineack
(Post 809549)
Is that why I went into debt, and emptied out my six figure bank account when I sold mine?
:jerkit: Oh yeah, you love bubbles... |
I take money out of my paycheck every two weeks for my Roth (and my wife's as well). It is automatically withdrawn and transferred to Etrade. Every three months I purchase stock with it (manually). We currently max out both Roths and my 401K. I don't really worry too much about the market dropping because that means I am buying new shares at a cheaper price.
|
Originally Posted by rmcelwee
(Post 809915)
I take money out of my paycheck every two weeks for my Roth (and my wife's as well). It is automatically withdrawn and transferred to Etrade. Every three months I purchase stock with it (manually). We currently max out both Roths and my 401K. I don't really worry too much about the market dropping because that means I am buying new shares at a cheaper price.
smileyface. |
Originally Posted by Gearhead_318
(Post 809914)
lol, no wonder your a librarian.
|
Originally Posted by Gearhead_318
(Post 809914)
When I get into the Marines I'm thinking of doing something equivalent to putting a dollar a day into a roth IRA.
that's retarded when you have a yearly limit of $2,000. you should be putting $5 a day into it; like the Brain. |
Originally Posted by y8s
(Post 810047)
you should worry more about historically high days.
smileyface.
Originally Posted by Braineack
(Post 810069)
that's retarded when you have a yearly limit of $2,000. you should be putting $5 a day into it; like the Brain.
|
Originally Posted by Braineack
(Post 810069)
that's retarded when you have a yearly limit of $2,000. you should be putting $5 a day into it; like the Brain.
|
Originally Posted by Scrappy Jack
(Post 810073)
Why does he have a $2k yearly limit for Roth contributions?
Originally Posted by Gearhead_318
(Post 810109)
Did not know about the yearly limit, what if I had multiple IRAs? Then again I think they can be taxed so maybe I'll just be like the Brain.
roths aren't taxed, you load them up with pretaxed dollars, then when you withdraw after 40 years of exponential growth, you do not have to pay taxes on them. thats the reason they are so bomb and why you should contribute as much as possible to them. |
Another upside is compounding interest right? Or am I thinking of something else?
|
no, that's the main benefit. taxewd now, grow, then you dont pay taxes on it later when its worth millions.
|
Can you have more then one?
|
Originally Posted by Braineack
(Post 810128)
cause thats the way Roth IRAs work. it's either 2K or 5K a year limit, and if you make over a certain amount a year you cannot do them.
$2k is an old contribution limit, which you may be thinking of. You may have multiple traditional IRAs and Roths at any given time, however, your annual contributions are capped in aggregate. Said another way, if you were eligible to contribute $5k for the year, it would be a total of $5k among all of them. Deductible traditional IRAs have lower income eligibility phase-outs. |
i let my broker handle my money. i cant keep track of the limits, like I said, I've breached the earned income, so only give to my various roll-over and trad. iras.
|
I don't mess with brokers any more. Years ago I had one and stopped in to buy a stock with my wife. He talked me out of buying $4K of Compaq stock (worth about $400,000 just a few years later). I figure if they actually knew anything (other than some legal and accounting stuff) they would be living on a beach somewhere.
|
Originally Posted by rmcelwee
(Post 810182)
I don't mess with brokers any more. Years ago I had one and stopped in to buy a stock with my wife. He talked me out of buying $4K of Compaq stock (worth about $400,000 just a few years later). I figure if they actually knew anything (other than some legal and accounting stuff) they would be living on a beach somewhere.
|
Originally Posted by rharris19
(Post 810192)
People who are exclusively brokers are extremely rare these days.
|
All times are GMT -4. The time now is 12:28 PM. |
© 2024 MH Sub I, LLC dba Internet Brands