How the hell are we supposed to retire?

Patrick

Overthinking the draft from the basement already
Staff member
the only thing I own moving sideways the last 7ish years is CL. I think since @rick81721 decided to retire the shareholders said “I’m out too”

at least it yields 2.5% div. and the downside risk is small. gotta brush your teeth!
 
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THATmanMANNY

Well-Known Member
Market is getting crazy hot though. I’m a little wary it keeps pushing up. Bubble coming, 3 months, 6 months, two years. It’s coming I’ll be right haha.

You see it in housing prices and and analysts and firms keep on pumping. It’s all sunshine and roses. Meanwhile, wages aren’t growing significantly.

Just an observation
 
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rick81721

Lothar
Market is getting crazy hot though. I’m a little wary it keeps pushing up. Bubble coming, 3 months, 6 months, two years. It’s coming I’ll be right haha.

You see it in housing prices and and analysts and firms keep on pumping. It’s all sunshine and roses. Meanwhile, wages aren’t growing significantly.

Just an observation

Markets always go down, then always go up. If you're in for the long haul, it doesn't matter
 

MissJR

not in the mood for your shenanigans
Team MTBNJ Halter's
Question concerning Roth IRA: when do you determine when to contribute and how much to contribute in the case of what your gross income and all that stuff is? I always thought it best to just contribute as soon as you had the extra money. But apparently my thought process might not be the best. I guess what I'm asking is: Do you just wait until W-2 and contribute before filing tax returns?
 

Patrick

Overthinking the draft from the basement already
Staff member
Question concerning Roth IRA: when do you determine when to contribute and how much to contribute in the case of what your gross income and all that stuff is? I always thought it best to just contribute as soon as you had the extra money. But apparently my thought process might not be the best. I guess what I'm asking is: Do you just wait until W-2 and contribute before filing tax returns?

I find regular contributions into retirement funds are easier to swallow.
But your way works too.

You probably know in advance if you are going to hit any wage limits (??),
but can back it out before filing if you did exceed them.

This is in addition to employer sponsored plans?
 

ekuhn

Well-Known Member
BUY! BUY! BUY!

Looking to add to my stock portfolio - with the slight down turn in the market. Any one have any hot stocks they like that are currently at a discount? If not may go blue chip route.
 

MissJR

not in the mood for your shenanigans
Team MTBNJ Halter's
I find regular contributions into retirement funds are easier to swallow.
But your way works too.

You probably know in advance if you are going to hit any wage limits (??),
but can back it out before filing if you did exceed them.

This is in addition to employer sponsored plans?

I used to get an end of the year bonus, so that was a nice chunk to throw in to an IRA. I never counted on that money so it was always "extra"

Ha! No. I didn't think I would exceed limits but it's looking like there's issues and I'll be penalized if I don't remove money. The new company now has a 401k match so I also have to reconfigure those contributions to max the match. And if I'm not fired before then, I'll also be getting a retention bonus eventually which needs to go somewhere too. (New bike? ?)

And this really comes off as a first world problem... But I'm trying to catch up for years of not being able to save anything.
 
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Gnick

Active Member
everyone should be reading these

a random walk down wallstreet
red book of common sense investing
the next door millionaire

dollar cost averaging into your retirement accounts. 401k, IRA etc is the best way to save for retirement for most people. If you max out these retirement accounts over your entire career and assume a 5-7% average return on well diversified index funds you'll be fine. It's easy to choose investments now that there are target date retirement funds. you cant watch your 401k during times of uncertainty like this coronoavirus nonsense. over time (10,20,30 years), if you're invested correctly, you will always do well in the stock market. trying to flip flop between strategies is what kills people. contribute as much as you can every month and you'll have way more than most americans. The real problem is that most people just arent able to save. saving is super hard - so automation is the best way.
 

Gnick

Active Member
Question concerning Roth IRA: when do you determine when to contribute and how much to contribute in the case of what your gross income and all that stuff is? I always thought it best to just contribute as soon as you had the extra money. But apparently my thought process might not be the best. I guess what I'm asking is: Do you just wait until W-2 and contribute before filing tax returns?
i struggle with this too. my wife works real estate so we're never sure if we're going to exceed the roth IRA limit. therefore i usually just wait until the taxes are done. if we dont exceed the limit, ill pull money from savings and max out the IRA. if we do, ill invest otherwise.
 

Patrick

Overthinking the draft from the basement already
Staff member
I used to get an end of the year bonus, so that was a nice chunk to throw in to an IRA. I never counted on that money so it was always "extra"

Ha! No. I didn't think I would exceed limits but it's looking like there's issues and I'll be penalized if I don't remove money. The new company now has a 401k match so I also have to reconfigure those contributions to max the match. And if I'm not fired before then, I'll also be getting a retention bonus eventually which needs to go somewhere too. (New bike? ?)

And this comes really comes off as a first world problem... But I'm trying to catch up for years of not being able to save anything.

Sounds like you are on it. Def get the 401k aligned, cause free money.
Check the limits again, cause married yo! And shouldn't be a problem moving the money out -
is it also MAGI, not gross, so have to do your taxes early...

Don't hesitate to do post tax savings with divided reinvestment.
A smart person once told me that they wished they paid $1M a year in taxes....

Don't invest in real estate, unless you live in it, or want to do it professionally.

ps - get another wheelset and AXS...just like 'new bike' only more better.
 

jackx

Well-Known Member
BUY! BUY! BUY!

Looking to add to my stock portfolio - with the slight down turn in the market. Any one have any hot stocks they like that are currently at a discount? If not may go blue chip route.
Loaded up on APPL and MSFT on last Friday. Been riding these 2 on the way up for quite a while.
 

THATmanMANNY

Well-Known Member
buy only if you willing to hold many years

@Patrick are you saying I shouldn't buy rental properties as a side thing that will 20+ yrs turn to set for life/generations. Man, the Mrs wishes she listened to me when I proposed to buy a two family home in Somerville last decade to start
 

Patrick

Overthinking the draft from the basement already
Staff member
buy only if you willing to hold many years

@Patrick are you saying I shouldn't buy rental properties as a side thing that will 20+ yrs turn to set for life/generations. Man, the Mrs wishes she listened to me when I proposed to buy a two family home in Somerville last decade to start

That is exactly what i'm saying.
so tell me what it was worth then, and what it is worth now - just so i have an idea.
were you going to live there, and rent out next door? Your wife is going to appreciate unclogging a toilet at 2am
when you aren't around.

then you are going to saddle your next generation with a two family home where they have to be the landlord?
maybe tie up $500k+ so they can make $4000/mo in rent - less fees/insurance/upkeep/pain in the ass renters/taxes
vs just having it in the bank throwing off dividends or growing with the market?

did it do better than tesla over the last 6 months? hell if you are going to speculate, may as well pick the winner
as the example.

remember - 5% dividend yield is easy to get. the money shows up monthly, you don't need to do a thing.
get yourself cash flow positive, and keep plowing it into investments.
 
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