Finance Thread a.k.a. Ways to Lose Money
- Thread starter tarheel0910
- Start date
It's a ridiculously cheap meme coin. It's the new doge. Those 750k coins cost me $20. Musk tweeted out an endorsement though.
we had our annual meeting with our financial advisor yesterday. our Roth mutual funds are +14.8% YTD ... +13.7% since Covid began. we're pretty conservative across the board. we have one IRA in a more aggressive category that is +18.6% YTD. we've averaged +11.5% since 2006 using Dave Ramsey's mutual fund advice and advisor.
our goal is to have at least $2.5m by the time we're 58 and then live on $10k/month net - which would mean approximately an 8% return annually on the $2.5m (and never touch the nut, obviously). we will not have a mortgage payment. any thoughts?
our goal is to have at least $2.5m by the time we're 58 and then live on $10k/month net - which would mean approximately an 8% return annually on the $2.5m (and never touch the nut, obviously). we will not have a mortgage payment. any thoughts?
4.8%-- could be a little higher if you have to use the IRA funds and pay taxes to get to your net--is a pretty aggressive withdrawal rate for a 58 year old. get your FA to run this through his monte carlo software and look over your probability of success numbers.
My RMD starts next year. Looking to give as much as I can to non profits to avoid taxes. Prior to retiring I would suggest if you have a tax year that you are in a lower tax bracket, roll some of your regular IRA into a Roth IRA
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look into doing QCD's--Qualified Charitable Distributions. especially if you are taking the standard deduction on your taxes.
One way to HODL is leave your coin in an exchange that gets robbed but recovers the funds.
This duo stole 70 million worth of bitcoin in 2016 or partnered with someone who did. Then waited til it's worth 4.5 Billion, attempted every trick in the book to hide tracks while cashing out, only to learn that even bitcoin has a paper trail.
thehill.com
Law enforcement has seized over $3.6 billion in connection to the incident.
Apparently there will be attempts to get the money back into the hands of the exchange where the hack/theft occurred.
This duo stole 70 million worth of bitcoin in 2016 or partnered with someone who did. Then waited til it's worth 4.5 Billion, attempted every trick in the book to hide tracks while cashing out, only to learn that even bitcoin has a paper trail.
DOJ arrests couple in connection with $4.5 billion cryptocurrency hack
The Department of Justice (DOJ) announced on Tuesday that a married couple was arrested and charged for their alleged links to cryptocurrency stolen from a 2016 hack of Bitfinex, a virtual cur…
thehill.com
Law enforcement has seized over $3.6 billion in connection to the incident.
Apparently there will be attempts to get the money back into the hands of the exchange where the hack/theft occurred.
The public stock ap is pretty cool. You can log in any time and watch your portfolio crumble real time.
Good time to pick up some bargains if you are so inclined.
They are a client of mine, good company.
Fed interest rate hike is going to be interesting this summer. By September you'll probably see growth level out and the housing market to become remotely fair for a buyer.
I heard there's a good deal on the ruble if you're the type who likes FX.
Yes, it's been there for awhile. Politicians are trying to close the loophole, though.
we've used the backdoor ROTH option the last few years. totally legal loophole that apparently wont be around much longer, unfortunately.
Like decades or years?
This thread has really failed us all!
We're going to try and take advantage...
grrrr - maybe I don't spend enough time on nerdwallet, or maybe i've gotten lazy with my finances, but it would have been nice to know about this prior to the doubling of the stock market over the last decade.
I hate the finance industry and tax system. Maximizing money within this wonky system and NOT losing money shouldn't require the administrative burden that it does. Pay me, tax me, and let me invest, but don't make it this infinite series of hoops that is going to drive me toward using a professional.
I unfortunately haven't had a 401k plan that allows both the after-tax contribution (note, this is not a Roth contribution), and allows the in-service distribution, so I haven't been able to do the mega backdoor Roth thus far. Bummer that this might be going away soon apparently?
I have done the standard backdoor Roth on the IRA contributions for several years though.
I have done the standard backdoor Roth on the IRA contributions for several years though.
we're big Dave Ramsey fans, been following his system for 15 years. we heard about the backdoor ROTH on his show and have been very thankful.
I can't even fathom being so rich that I could wake up one day and decide to buy a fortune 500 company just because I could. Musk is a real life troll and I think it's great.
It is pretty amazing. He's got hyper tunnels and Neuralink as his serious human-saving (or human killing via skynet) ventures, then there's twitter because of fvck-around-money
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