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  • #106
    Originally posted by Broncojohnny View Post
    Until you are putting the most you can in the 401k then you shouldn't even put anything anywhere else, the tax advantage makes it very profitable. The maximum yearly is $16,500 or $17K, this is what you can put in, it doesn't count what your employer puts in. It also goes up every couple of years.

    Thanks for the tip, gents.

    Comment

    • #107
      Further to al's point, contributions accumulate tax deferred - they reduce your adjusted gross income by the contribution amount. When 43 cents of each incremental dollar I earn goes to taxes, you bet your ass I say max that shit out.
      Originally posted by davbrucas
      I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

      Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

      You and slow99 should date. You both have passive aggressiveness down pat.

      Comment

      • #108
        Lets just hang the fucking flag upside down. 6th worst day of losses in the history of the nyse.

        Comment

        • #109
          Originally posted by slow99 View Post
          Further to al's point, contributions accumulate tax deferred - they reduce your adjusted gross income by the contribution amount. When 43 cents of each incremental dollar I earn goes to taxes, you bet your ass I say max that shit out.
          Not money going into a Roth though correct? That money is taxed as gross income now and tax free to include earnings only after age 59 1/2. Is that correct?
          Fuck you. We're going to Costco.

          Comment

          • #110
            Originally posted by kbscobravert View Post
            Not money going into a Roth though correct? That money is taxed as gross income now and tax free to include earnings only after age 59 1/2. Is that correct?
            I haven't heard of that. Last I checked, ROTH contributions worked the same as 401k contributions. I can't contribute to a ROTH so I don't know the current rules.
            Originally posted by davbrucas
            I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

            Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

            You and slow99 should date. You both have passive aggressiveness down pat.

            Comment

            • #111
              Originally posted by QIK46 View Post
              Lets just hang the fucking flag upside down. 6th worst day of losses in the history of the nyse.
              Dude, we knew it was coming. Aren't you some kind of stock market maestuh?


              Originally posted by slow99 View Post
              I haven't heard of that. Last I checked, ROTH contributions worked the same as 401k contributions. I can't contribute to a ROTH so I don't know the current rules.
              They're deducted post tax, so you don't pay taxes on withdrawals. The downside is opportunity cost, IMO.
              Last edited by YALE; 08-08-2011, 06:57 PM.
              ZOMBIE REAGAN FOR PRESIDENT 2016!!! heh

              Comment

              • #112
                Asia getting raped in the mouth, every one get ready for another good time tomorrow!

                Originally posted by racrguy
                What's your beef with NPR, because their listeners are typically more informed than others?
                Originally posted by racrguy
                Voting is a constitutional right, overthrowing the government isn't.

                Comment

                • #113
                  Originally posted by Broncojohnny View Post
                  Asia getting raped in the mouth, every one get ready for another good time tomorrow!

                  Market today definitely did not show signs of one that is bottoming, that's for sure.
                  Originally posted by davbrucas
                  I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                  Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                  You and slow99 should date. You both have passive aggressiveness down pat.

                  Comment

                  • #114
                    Originally posted by Yale View Post
                    They're deducted post tax, so you don't pay taxes on withdrawals.
                    I heard it was the other way around. You pay taxes on the contributions as you make the money income. The withrdawals were are not taxed. I will call ML tomorrow and get the skinny. That is who my Roth is through. I did not set my Roth up, I actually just found out that I had it; or I would know more about it.

                    From my understanding it is a regular IRA that the yearly max contribution ($2,000) is deductible but earnings and withdrawals ARE taxed no matter when you recieve them
                    Fuck you. We're going to Costco.

                    Comment

                    • #115
                      Originally posted by kbscobravert View Post
                      I heard it was the other way around. You pay taxes on the contributions as you make the money income. The withrdawals were are not taxed. I will call ML tomorrow and get the skinny. That is who my Roth is through. I did not set my Roth up, I actually just found out that I had it; or I would know more about it.

                      From my understanding it is a regular IRA that the yearly max contribution ($2,000) is deductible but earnings and withdrawals ARE taxed no matter when you recieve them
                      My brain is toast, I've been working since 3am this morning. I think you're saying it correctly, the basic idea of a ROTH is that you pay taxes now rather than later b/c you'll be in a higher tax bracket later. And hell, it looks like you and Yale are saying the same thing.
                      Originally posted by davbrucas
                      I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                      Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                      You and slow99 should date. You both have passive aggressiveness down pat.

                      Comment

                      • #116
                        Originally posted by Yale View Post

                        They're deducted post tax, so you don't pay taxes on withdrawals. The downside is opportunity cost, IMO.
                        Yeah, I need to go to bed and quit posting bullshit, lmao!
                        Originally posted by davbrucas
                        I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                        Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                        You and slow99 should date. You both have passive aggressiveness down pat.

                        Comment

                        • #117
                          Originally posted by slow99 View Post
                          My brain is toast, I've been working since 3am this morning. I think you're saying it correctly, the basic idea of a ROTH is that you pay taxes now rather than later b/c you'll be in a higher tax bracket later. And hell, it looks like you and Yale are saying the same thing.
                          Also, any earnings on a Roth are tax-free.

                          Comment

                          • #118
                            Looks like I completely misread Yale's post

                            Sorry Yale. It is the end of a 12 hour word day here also.
                            Fuck you. We're going to Costco.

                            Comment

                            • #119
                              Originally posted by The King View Post
                              Also, any earnings on a Roth are tax-free.
                              Am I right in saying that max yearly contributions is $2k?
                              Fuck you. We're going to Costco.

                              Comment

                              • #120
                                Originally posted by kbscobravert View Post
                                Am I right in saying that max yearly contributions is $2k?
                                No, it's more than that but I clearly need to stop trying to post details before I fuck something else up.
                                Originally posted by davbrucas
                                I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                                Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                                You and slow99 should date. You both have passive aggressiveness down pat.

                                Comment

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