How the hell are we supposed to retire?

Patrick

Overthinking the draft from the basement already
Staff member
if you itemize i would definitely look into this. find a tax calculator based on the new plan and see what the difference will be in your taxes and the amount of property taxes that will be disallowed.

charitable donations are definitely going to be affected too. pushing contributions this year could be helpful (generally speaking). that said, you could 'bunch' your donations next year so you still get a tax benefit. the charitable donations changes have my gears turning when it comes to JORBA.

charity thing is a tough one - i can give $100 to get $30 back as a deduction - or under the new rules, they are giving me $30 to add to my charitable giving..... ??

SiriusXM just started a 501(3)c matching plan for the new year - this is a good thing!

this was required to hire millenials.
 

rick81721

Lothar
I figured it might fit here,
but if you can, pre-pay some/all of your property taxes and make your charitable donations now before the new year.
Get the credit for it this year, because it's gone for next year.

Amirite @clarkenstein ?

Hey thanks for this. Still have a tax bill due on FL house that I was going to hold off until 2018 - just paid it!
 

jmanic

JORBA Board Member/Chapter Leader
Staff member
JORBA.ORG
Team MTBNJ Halter's
Watch out for AMT on the prepayments or you'll give it right back.
great point - generally speaking its a good idea - but everyone's situation is different, so make sure you calculate all of the outcomes before you start writing checks.
Thank you both, very good points, and I checked the stuffs.

Too much adulting today.
Time for a beer.
 

The Kalmyk

Well-Known Member
ive had some good returns with Private Equity companies.

If Princeton endowment funds are investing, why not join our the club.
 

Santapez

Well-Known Member
Team MTBNJ Halter's
get in somewhere cheap, like vanguard, and invest in "the market" for the long term.

I mostly switched from Fidelity (mostly) to Vanguard. It's amazing how they cut costs in such annoying ways. Their website is pretty shitty. The way they do their accounts are annoying. I used to be able to deposit checks via my phone but now my account type is different because it suggested I change my account type and clicked on the button. The easiest way to actually fund my account is to transfer in from Fidelity.

But those cheap funds and automatic investing are so mindless and easy and keeps me from doing anything too stupid. Market up, Market down? Doesn't really matter.
 

Patrick

Overthinking the draft from the basement already
Staff member
I mostly switched from Fidelity (mostly) to Vanguard. It's amazing how they cut costs in such annoying ways. Their website is pretty shitty. The way they do their accounts are annoying. I used to be able to deposit checks via my phone but now my account type is different because it suggested I change my account type and clicked on the button. The easiest way to actually fund my account is to transfer in from Fidelity.

But those cheap funds and automatic investing are so mindless and easy and keeps me from doing anything too stupid. Market up, Market down? Doesn't really matter.

agree, there are some things i don't like about vanguard reporting - i think a lot of the decisions were geared to cut down on daily decision making -
vanguard is not a bank. fidelity has consumer and corporate banking arms, explaining some of the differences. I have multiple bank accounts linked,
so the $$ can move as needed, with a time penalty.

Some of the funds i'm in have trading restrictions. Can sell as much as you want, but only 1 time every 30ish days.
(hint - i'm only in 3 index funds, and a couple high dividend funds instead of bond funds.)
 

The Kalmyk

Well-Known Member

Looking into some of the universities investments you may find that their largest returns are coming from private equity companies or they call it “venture capitalists investments”.

I’m some cases the investment department can account for up to 30% of a universities annual revenue. So whatever space they play in, I’m willing to play in.
 

Patrick

Overthinking the draft from the basement already
Staff member
Looking into some of the universities investments you may find that their largest returns are coming from private equity companies or they call it “venture capitalists investments”.

I’m some cases the investment department can account for up to 30% of a universities annual revenue. So whatever space they play in, I’m willing to play in.

i guess - pooling money in venture capital is like playing shark tank. small, complete failures in exchange for a couple big wins.
One of my fraternity brothers did this for harvard, and is a private partner now.

BTW - Mark Cuban could buy everyone on there a few times over. Should i say future POTUS Mark Cuban ?
 

The Kalmyk

Well-Known Member
My brothers best friend (Chris Collins) is in the Private Equity space. He’s good at dumbing down the content for me,lol. I can say over the last 5 years my returns have been everything I expected and much much more. Just another option if you know someone working in that category


http://www.goldengatecap.com/team/
 

rick81721

Lothar
How you all doing?

SP500 wins against managed hedge funds over the last 10 years.

http://www.weeklystandard.com/editorial-buffett-makes-fools-of-the-experts/article/2011745

get in somewhere cheap, like vanguard, and invest in "the market" for the long term.

I'm waiting for my Colgate stock options to rebound for play money - they took a hit a month ago and It's been a pain in the ass to get Merrill Lynch to change my address from NJ to FL - don't want them to take out that 9.9% state income tax!
 

qclabrat

Well-Known Member
scary fact, in 2017 student loan debt in the US has surpassed consumer credit card debt
It's now at about 1.5 trillion, and school costs continue to climb faster than any other major spend.
We followed the conventional scraping and saving for most of my kids and that strategy seemed to work for us despite the .com bubble and recessions. Have the college saving strategies changed for new parents today?
 

Patrick

Overthinking the draft from the basement already
Staff member
scary fact, in 2017 student loan debt in the US has surpassed consumer credit card debt
It's now at about 1.5 trillion, and school costs continue to climb faster than any other major spend.
We followed the conventional scraping and saving for most of my kids and that strategy seemed to work for us despite the .com bubble and recessions. Have the college saving strategies changed for new parents today?

i came up with this one to protect kids' money - hopefully they have a little savings. If they make any reportable income, they should move that savings to a roth IRA in the amount of their income. This would protect it from college. might have a 40 year horizon for them, but is that a bad thing?
 

Bike N Gear

Shop: Bike N Gear
Shop Keep
i came up with this one to protect kids' money - hopefully they have a little savings. If they make any reportable income, they should move that savings to a roth IRA in the amount of their income. This would protect it from college. might have a 40 year horizon for them, but is that a bad thing?

Well that safeguards their money, but what about yours? Even if they don't have a dollar to their name, if the parents are too liquid, their money is up for grabs.
 

qclabrat

Well-Known Member
Well that safeguards their money, but what about yours? Even if they don't have a dollar to their name, if the parents are too liquid, their money is up for grabs.
move it to your parents or other family members with no kids
Have them write the checks, colleges don't care who pays them in the end.
 

Patrick

Overthinking the draft from the basement already
Staff member
Well that safeguards their money, but what about yours? Even if they don't have a dollar to their name, if the parents are too liquid, their money is up for grabs.

So will they drain your liquid savings, or take a percentage of it ?
 
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