Re: IRA ?
[Re: cmj]
#6766378
02/11/20 01:49 PM
02/11/20 01:49 PM
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Joined: Dec 2006
Posts: 3,489 Moved to Fbks, Ak.
martentrapper
trapper
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trapper
Joined: Dec 2006
Posts: 3,489
Moved to Fbks, Ak.
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You all might want to consider the direction our country is headed if socialism gains a foothold in the future. We will be just fine if Trump gets back in. A socialist will seize your hard earned 401k savings and spread it to people that want free stuff. But if time is on your side you about have to take chance and save for your retirement. This is exactly what im worried about. I worry about that too. But it won't be just for the free stuff people. Liberals will take retirement savings to also make all the various govt. pension funds solvent. Very important to own firearms! mt
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Re: IRA ?
[Re: cmj]
#6766481
02/11/20 02:19 PM
02/11/20 02:19 PM
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Joined: Jul 2016
Posts: 1,482 Ne pa
Jerry Jr.
trapper
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trapper
Joined: Jul 2016
Posts: 1,482
Ne pa
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Dang. After crunching the numbers and looking at things I have several years worth in 'savings'. Guess I need to look into investing. Make the money work for you. Right? Guess I need to talk to someone.
Time is more precious than gold if you know how to spend it .... but what do I know, I'm just a dumb farmer.~My Dad NRA LIFE MEMBER, Endowment Member
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Re: IRA ?
[Re: bblwi]
#6766555
02/11/20 03:42 PM
02/11/20 03:42 PM
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Joined: Sep 2007
Posts: 91 Southeast, Indiana
Sliprig
trapper
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trapper
Joined: Sep 2007
Posts: 91
Southeast, Indiana
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If one budgets and saves wisely then one basically lives from paycheck to paycheck or however your revenue stream comes to you. Having piles of cash laying around waiting to spend upon whim is not to me a good way to manage monies or life styles. As to socialist stealing ones 401 Ks that won't happen. A change in economic policy can and will change opportunities to save or not save and that may be good or bad depending upon how much change there will be. Also four more years of Trump won't stop a long term trend and if your life saving plans are based on 2-4 years blips out of your 80-90 year life span they may not be healthy economically for you either.
Bryce The SECURE Act went into effect Jan 1, 2020 and it changed the rules on the inherited Roth IRA RMD's
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Re: IRA ?
[Re: Jerry Jr.]
#6766558
02/11/20 03:44 PM
02/11/20 03:44 PM
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Joined: Jan 2009
Posts: 6,683 PA
gryhkl
trapper
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trapper
Joined: Jan 2009
Posts: 6,683
PA
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Dang. After crunching the numbers and looking at things I have several years worth in 'savings'. Guess I need to look into investing. Make the money work for you. Right? Guess I need to talk to someone. That is exactly what happened to me. I had a few years worth of income sitting in cds and saving accounts. Somebody told me I was letting money slip away so I asked Edward Jones co. to buy my fist few thousand dollars worth of stock with the intent to have them invest more for me. They charged 2.5% going in and another 2.5% on the profits it made. About a month later a friend told me about Scottrade-at the time $7 per trade-so I switched over to them and have been very happy since.
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Re: IRA ?
[Re: cmj]
#6766631
02/11/20 05:42 PM
02/11/20 05:42 PM
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Joined: Mar 2019
Posts: 1,497 Southern NJ
maintenanceguy
trapper
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trapper
Joined: Mar 2019
Posts: 1,497
Southern NJ
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Lol. Maybe you live your life pay check to pay check, but my pay checks come in multiple times each week and if my truck broke down today, I would go buy a new one tomorrow like I did in September 2018. New brakes? New tires? Lol no problem!
Saving money is for poor people hoping to have a lot of money one day.
I went to bed last night without having to set my alarm clock. Woke up about half hour ago, now sitting on the couch with my coffee reading Tman! What should I do today? Sit on the couch all day? Go set some traps? Make another cup of coffee? Think I’ll go with the latter. My life is good! And it’s Tuesday! Think I’m going trapping tomorrow and fishing on Friday!
Don’t take my advice, fine! Have fun clocking into work bright and early!
So, what was your business? I'm always looking for an additional stream of income and always interested in what others did to become financially independent.
-Ryan
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Re: IRA ?
[Re: cmj]
#6766803
02/11/20 08:18 PM
02/11/20 08:18 PM
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Joined: Mar 2018
Posts: 3,122 Pa.
Bigbrownie
trapper
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trapper
Joined: Mar 2018
Posts: 3,122
Pa.
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I rolled my 401K into an IRA when I retired in 2013. I have been using Stifel, Nicolaus, and Company to invest monthly since 1992, so I went with them with my IRA money. We settled on using Washington Crossing Advisors, which manages high portfolio accounts within Stifel. They actively buy and sell equities, usually holding about stock in about 22 companies at any given time. It also maintains a higher than normal cash balance, to buy quickly when it warrants. My account value is now twice its amount of 8/3/13, in addition to me withdrawing $105,000 from the account.
Although doubling an account in 6.5 years isn’t difficult in the bull market we’ve enjoyed, what attracted me most to WCA was their performance during the Great Recession of 2007-2009. While the markets fell over 50% during that collapse, WCA lost only 18% of their balances. Preserving capital in a down turn is just as critical as making money in an upswing. And make no mistake about it, we will see more downturns in the future.
WCA charges 1% annually of the account’s balance. No one likes to pay sales loads or fees, but good money managers don’t work for free.
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Re: IRA ?
[Re: cmj]
#6766885
02/11/20 09:37 PM
02/11/20 09:37 PM
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Joined: Dec 2015
Posts: 6,325 se South Dakota
NonPCfed
trapper
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trapper
Joined: Dec 2015
Posts: 6,325
se South Dakota
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And remember Jurassic does eat Krill or Quill or Smag or whatever the Canuk version of Spam is, that's only for poor people! Jurassic's big break came when he sold the screen play of his life to become the movie Magic Mike, as well as advising the Bachelor show. He's a Hollywood insider that only poses a guy living in the MB bush Ok, JP, just giving you a load of crap because you're so entertaining.By the way, why don't you tell us what you actually do to have all these multiple checks rolling in a week? It should be fun to find out!!
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground". Genesis 1:26
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