The Finance/Retirement Thread

BloodStripe

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Let's talk retirement for a moment. We need to be educating people better with regards to 401k's and Roth accounts. Many people currently are in a lower tax bracket than they will be later in life. If you are at a low tax bracket, a Roth account will be better for you. Conversely, if you are in a higher tax bracket, a 401k account is better. I feel that far too many people are currently better off going Roth but don't because we are short sighted with regards to tax savings.
 

Isiah6:8

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Let's talk retirement for a moment. We need to be educating people better with regards to 401k's and Roth accounts. Many people currently are in a lower tax bracket than they will be later in life. If you are at a low tax bracket, a Roth account will be better for you. Conversely, if you are in a higher tax bracket, a 401k account is better. I feel that far too many people are currently better off going Roth but don't because we are short sighted with regards to tax savings.
You hit the nail on the head with this one. There could be a whole thread on this stuff.
 

Devildoc

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Let's talk retirement for a moment. We need to be educating people better with regards to 401k's and Roth accounts. Many people currently are in a lower tax bracket than they will be later in life. If you are at a low tax bracket, a Roth account will be better for you. Conversely, if you are in a higher tax bracket, a 401k account is better. I feel that far too many people are currently better off going Roth but don't because we are short sighted with regards to tax savings.
We have single income, six kids. Right now I am in the lowest tax bracket there is; as the kids move out and I can't deduct them, my tax liability increases. We moved almost all of our retirement into Roths. I am also vested in a pension plan where I work, which won't be much even if I stay 30 years, but between the two will be OK.
 
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Cookie_

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I agree, a personal finance/retirement thread is a good idea. Didn't find one in the search, so one should get started.

If I knew 1/2 the stuff while I was active that I know now, I'd probably be 3/4 of the way to a stable retirement.
 
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Marine0311

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Agreed. It obviously isn't as simple as what I said, but in general terms it will work better for more people. Plus we will gain more tax income now as a country.
we should have a thread for all of us to beniefit from.
 

Diamondback 2/2

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I've got all my money tied up in physical property now. I maintain some operating capital in money market accounts, but no where near what I've been putting into land, etc.

You can make some money in 401k but I've known more people who lost their ass then I do who actually retired. My late father being one of them.

My brother and I got into flipping houses on the side, we now rent out 3 houses and a duplex. Best "retirement" plan I've been involved with thus far. We have some plans to expand that to a camping/cabin village and possibly more rent house's. Between that, and our businesses, retirement is looking pretty good.

We talked to an advisor, and real-estate in our area is where the future is, specifically rentals. But it is state and more specifically local specific.
 

ThunderHorse

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Let's talk retirement for a moment. We need to be educating people better with regards to 401k's and Roth accounts. Many people currently are in a lower tax bracket than they will be later in life. If you are at a low tax bracket, a Roth account will be better for you. Conversely, if you are in a higher tax bracket, a 401k account is better. I feel that far too many people are currently better off going Roth but don't because we are short sighted with regards to tax savings.
So for all the young guys in the Service on here. Save your ducats. Roth TSP immediately. Max out your Roth TSP, Then open a Roth IRA and max that out. Whatever is left is what you live on.

Currently running a Roth TSP, Roth IRA, and Single Register investment account. Then on the side I've got some stocks I've fucked around with.

No property yet. Sold my Dad's house because I didn't want to deal with that and needed to make sure my Special Needs Sister had all the money she'd ever need.
 

Diamondback 2/2

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Holy shit, THAT should be a thread. Buy EVERYTHING lindy sells & sell EVERYTHING lindy buys. Follow that advice and you’ll make all the $$$$ I’ve lost.
lol I tried to fuck around any penny stocks... Yeah, not so much. But it didn't cost me too much, figured the cost of learning and I learned that I'm better working with my hands then a computer.


Just a heads up, small investment stuff, fucking T-shirt's... You make roughly 3-8 dollars a t shirt doing online sales. You have to have a marketing strategy, but man, if you hit the right generational group/trend, you can make millions quickly. Some copy right stuff involved and it can be hit or miss, but really low cost to start up. Go through a t-shirt direct printing company, and you basically have no over head, pretty much cost of design and marketing.

Waiting on my oldest daughter to hit high school, and that will be our little business together. Hopefully grab her generation on a trend and leap frog that into her stated desire of graphic design.
 
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