How the hell are we supposed to retire?

Bought some Ripple today. Might have been the biggest waste of some cash, we'll see.
 
My brother in law grabbed some LTC on Friday, I was tossing around the idea but didn't do it. Kinda wish I didn't wait now.

Anyway, I'm looking at it from a "might get lucky" perspective so I only tossed in a little $$ that I wont lose sleep over.
 
i have a couple dart throws in my portfolio - Sub $1,000 investments. Missed the bitcoin boom, but as mentioned, demand it high.
the only reason it is high is speculative, gold is not speculative, it is the opposite - if a currency collapses, gold can be sold anywhere
that the economy is good.

watch for people shorting bitcoin - if they do, get in, cause they are going to get hammered.
Perhaps i'll purchase a futures contract instead of the actual item. I can roll the dice without ever getting in!
 
rlb said:
I keep getting whacked on my 401k with the shit market. After sitting out 1+years with all of my money in a "stable value fund" I decided to re-distribute and try to gain some ground (this was ~last fall). Then I got whacked (again) in the beginning of 2016. There's gotta be a better way than 401k or market (IRA etc.) bullshit.....what am I missing?
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I honestly don't mind the crypto talk...

So my 401k is actually doing quite well this year. Re-reading the first page and I suppose I'm not in a bad spot compared to the picture @clarkenstein paints. Partially because I've been contributing a fair chunk for most of my time at my job (ugh 13 yrs...), though I still feel like I blindly just toss money into a hole in the hope that I get it back some day.
 
rlb said:
I honestly don't mind the crypto talk...

So my 401k is actually doing quite well this year. Re-reading the first page and I suppose I'm not in a bad spot compared to the picture @clarkenstein paints. Partially because I've been contributing a fair chunk for most of my time at my job (ugh 13 yrs...), though I still feel like I blindly just toss money into a hole in the hope that I get it back some day.
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This is a good reason to used sp500 or total intl market funds. there is no way to pick a sector, or region, or stock and move in/out with a full time job...even then, it is probably impossible, or more people would do it.
keep investing, and don't forget the 529....
 
rlb said:
I honestly don't mind the crypto talk...

So my 401k is actually doing quite well this year. Re-reading the first page and I suppose I'm not in a bad spot compared to the picture @clarkenstein paints. Partially because I've been contributing a fair chunk for most of my time at my job (ugh 13 yrs...), though I still feel like I blindly just toss money into a hole in the hope that I get it back some day.
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I think Pat said this before - slow and steady wins the race. This is a marathon, not a sprint, keep at it and you'll be fine.
 
rlb said:
You're on your own kid!

I do need to look into this, specifically what the penalties are on the leftover money should you manage to wind up with some....
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There won't be any money left over in your 529, if it gets you through 2 years of college you'll be lucky. If there's any money left over, it belongs to your kids. If your kid decides to forego college and become a plumber or electrician (of which both careers can be lucrative), money still belongs to them.
 
Monkey Soup said:
There won't be any money left over in your 529, if it gets you through 2 years of college you'll be lucky. If there's any money left over, it belongs to your kids. If your kid decides to forego college and become a plumber or electrician (of which both careers can be lucrative), money still belongs to them.
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and they can use it for training/materials/etc forever. There is a siblings transfer - but you'll never save enough to drain it as mentioned.
and even if they penalize you and tax the interest of what is left over, it is now found money - can buy a bike.

alternatives -
custodial account. still theirs, and is treated differently at financial aid time - they will drain it first year.
regular investment account - hesitation of other people to contribute, and you might be inclined to use it for something else, or mess with the investments.
ignore it, it will be ok. Probably, but still a missed opportunity for untaxed gain.
 
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Monkey Soup said:
There won't be any money left over in your 529, if it gets you through 2 years of college you'll be lucky. If there's any money left over, it belongs to your kids. If your kid decides to forego college and become a plumber or electrician (of which both careers can be lucrative), money still belongs to them.
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In my case it was only 1 year! You can transfer the money to another kid if there is money left.
 
w_b said:
maximum untaxed gain is the way to go- this is the mindset needed.

Mr. Roth early and often.
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This is my reply anytime people ask me about bitcoin or really anything money related. Is your IRA fully funded yet? My personal choice is also Roth.
 
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w_b said:
maximum untaxed gain is the way to go- this is the mindset needed.

Mr. Roth early and often.
Click to expand...

Something of note:

An inherited ROTH IRA has minimum required distributions based on the life expectancy of the beneficiary.
The growth is still tax free! even for the beneficiary! Its like leaving a tax free annuity!

Speaking of which - the contributions to an IRA are based on earned income. I saw a trick where parents would gift a kid the amount of money they made
each year while in HS and College - into a roth IRA. so this might put a few thousand dollars in a tax free account for 40 years down the road.
This turns into $4,000 -> $90,00 tax free around age 65. assuming they leave it alone. This works because some people can't do their own roth because of other plans.

I'm not too worried about the next generation (20ish years from entering work force) yet. it might me more of a post-apocalyptic issue like Johnny Mnemonic.
 
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