Holy buckets...the next week is going to be very interesting. Then, the rebound after Trump is re-elected.

It will rebound some tomorrow I suspect. This is more about the virus than it is the election

Yup. I've been planning on this dip.

I think there's a bit of both here. With cases increasing in Europe it will be interesting.

The majority of my portfolio is in precious metals and oil producers so it got smoked. Days like today are why I absolutely love rental properties, you don't have nearly the market volatility.

They KNOW the election will at least have an outcome and an end point . They don't have any credible information on how, when, or IF the virus will be resolved

Thanks for the heads up...not even gonna look until after the election.

September 2021

Maybe

I read an article this afternoon that Wall Street is very giddy about the thought of Jo getting in. Like White said, the sell off today was the virus related issue and concern of new round of money given out. More debt!!!

Jo will will be getting more from the 401K and pensions in a form of taxes. I see big changes for the worse with people that have 401K if he gets in. You will see the markets head south then.

Can you make more money hiding it or investing it?

What happens if trump get reelected ? Hope not retaliations. With more covid reports

Big thing with the covid is whether the charades are over . Can't see it ending really with either side winnig till the end of this years flu season just to save face. Not that they dont have a face to save.

I'm staying the course with AAPL, V, and MSFT

The market will correct itself quickly if Trump gets elected. If Biden gets elected it will be a good time to buy. Like getting stock on sale. Eventually the market will come back, no matter what happens on Tuesday. It’s just a matter of how long it will take.

This is why you should always choose the Roth option if it’s available. It’s after tax dollars, and the growth is 100% tax free if taken out at legal retirement age. If not available, do traditional 401k up to the company match. After the match is met, if they don’t offer Roth in the 401k then fund a Roth IRA. After funding those if you still aren’t investing 15%, go back to traditional 401k.

Match beats Roth, Roth beats traditional, for tax purposes.

Unless Biden starts taxing the growth on Roth accounts you’ll have no taxes from a Roth 401k At retirement because it gets taxed on the front end. If he starts taxing Roth’s folks are gonna be MAD. Me included.

Bob, can you invest in a Roth if you're past SS retirement age?

What about when you hit the age for mandatory withdrawals from other retirement accounts?

Are there mandatory withdrawals from a Roth, and if so, at what age?


Jim

Yes, you can contribute to a Roth throughout retirement. There are no minimum distributions on a Roth. The reason for the minimum distributions is the government wants their dang taxes, and since there are no taxes on the back end of a Roth they don’t care in it sits there forever.

Well not FOREVER. But as long as you’re alive you don’t have to take any distributions from a Roth. After you die it becomes an inherited IRA and at that point your beneficiary is required to take a minimum of 10% a year from the account. They won’t be taxed on the original amount inherited but they will be taxed on any growth that occurred since you died. The beneficiary can withdraw all of it if the wish to or just the minimum amount, regardless of their age.

Thanks.

Jim

It's fairly obvious but we will likely have a bumpy ride for the rest of Q4 and Q1. Hopefully we don't see another lockdown. That would be devastating for energy and the overall economy.