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Re: Dow dropped 900+ points [Re: HobbieTrapper] #7031146
10/29/20 06:52 AM
10/29/20 06:52 AM
Joined: Dec 2006
Posts: 62,661
Minnesota
330-Trapper Offline

trapper
330-Trapper  Offline

trapper

Joined: Dec 2006
Posts: 62,661
Minnesota
Originally Posted by HobbieTrapper
Can you make more money hiding it or investing it?

...Yes


NRA and NTA Life Member
www.BackroadsRevised@etsy.com




Re: Dow dropped 900+ points [Re: Gary Benson] #7031155
10/29/20 07:02 AM
10/29/20 07:02 AM
Joined: Nov 2015
Posts: 829
Maine
S
SleekOtter Offline
trapper
SleekOtter  Offline
trapper
S

Joined: Nov 2015
Posts: 829
Maine
I called this in the beginning but expected it in September. What happens when people realize outside dining isn't possible in the top 1/3 of the US and most other countries soon?

Last edited by SleekOtter; 10/30/20 09:14 PM.
Re: Dow dropped 900+ points [Re: Bob] #7031250
10/29/20 08:22 AM
10/29/20 08:22 AM
Joined: Nov 2007
Posts: 9,780
St. Cloud, MN
trapperkeck Offline
trapper
trapperkeck  Offline
trapper

Joined: Nov 2007
Posts: 9,780
St. Cloud, MN
Originally Posted by Bob
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.

To be, perfectly, clear. You can continue to contribute to a ROTH after retirement age as long as you have EARNED income of at least the amount you are contributing, up to the limit. In other words, if you intend to contribute $5,000, you must have earned income for that contribution year of at least $5,000.


"The voice of reason!"
Re: Dow dropped 900+ points [Re: Gary Benson] #7031265
10/29/20 08:42 AM
10/29/20 08:42 AM
Joined: Aug 2008
Posts: 16,170
ny
U
upstateNY Offline
trapper
upstateNY  Offline
trapper
U

Joined: Aug 2008
Posts: 16,170
ny
Market,,Shmarket.Should have put it all into beans,,bullets and bandaids like I did. smile


the wheels of the gods turn very slowly
Re: Dow dropped 900+ points [Re: trapperkeck] #7031349
10/29/20 10:16 AM
10/29/20 10:16 AM
Joined: Jan 2007
Posts: 3,960
Northern Nevada
B
Bob Offline
trapper
Bob  Offline
trapper
B

Joined: Jan 2007
Posts: 3,960
Northern Nevada
Originally Posted by trapperkeck
Originally Posted by Bob
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.

To be, perfectly, clear. You can continue to contribute to a ROTH after retirement age as long as you have EARNED income of at least the amount you are contributing, up to the limit. In other words, if you intend to contribute $5,000, you must have earned income for that contribution year of at least $5,000.


You are correct


"I have two guns, one for each of ya."
Re: Dow dropped 900+ points [Re: Gary Benson] #7031363
10/29/20 10:28 AM
10/29/20 10:28 AM
Joined: Aug 2012
Posts: 3,972
South Dakota
R
Rat Masterson Offline
trapper
Rat Masterson  Offline
trapper
R

Joined: Aug 2012
Posts: 3,972
South Dakota
Gov. can't stand money in your hands, they will come for it. Roths will be taxed like stock profits.

Re: Dow dropped 900+ points [Re: Gary Benson] #7031374
10/29/20 10:48 AM
10/29/20 10:48 AM

M
Mark June
Unregistered
Mark June
Unregistered
M



ADS on a roll whistle after earnings.

Re: Dow dropped 900+ points [Re: Gary Benson] #7031423
10/29/20 11:35 AM
10/29/20 11:35 AM
Joined: Feb 2014
Posts: 13,058
Ky
J
jbyrd63 Offline
trapper
jbyrd63  Offline
trapper
J

Joined: Feb 2014
Posts: 13,058
Ky
Yep new polls came out with Biden leading by 12 points !! LOL . GDP went up 33% and market fell unheard of.

Re: Dow dropped 900+ points [Re: white17] #7031425
10/29/20 11:37 AM
10/29/20 11:37 AM
Joined: Dec 2006
Posts: 15,594
MN, Land of 10,000 Lakes
T
Trapper7 Offline
trapper
Trapper7  Offline
trapper
T

Joined: Dec 2006
Posts: 15,594
MN, Land of 10,000 Lakes
Originally Posted by white17
It will rebound some tomorrow I suspect. This is more about the virus than it is the election

Right. It's already up today. Our local news said it was due to the virus.


I don't care how nice the hand soap smells, you should never walk out of the restroom sniffing your fingers.
Re: Dow dropped 900+ points [Re: Gary Benson] #7032333
10/30/20 08:35 AM
10/30/20 08:35 AM
Joined: Dec 2006
Posts: 2,213
central Missouri
B
Bigfoot Offline
trapper
Bigfoot  Offline
trapper
B

Joined: Dec 2006
Posts: 2,213
central Missouri
i know several people that &ave been restructuring their retirement this month to weather the ensuing stock market crash if harris wins
Myself i see it as a buying opportunity

Last edited by Bigfoot; 10/30/20 08:39 AM.
Re: Dow dropped 900+ points [Re: Gary Benson] #7032377
10/30/20 08:45 AM
10/30/20 08:45 AM
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
J
James Offline
"Minka"
James  Offline
"Minka"
J

Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
I think the market has probably already factored in a Biden win, based on the polls.

Jim


Forum Infidel since 2001

"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
Re: Dow dropped 900+ points [Re: James] #7032411
10/30/20 09:28 AM
10/30/20 09:28 AM
Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
B
bblwi Offline
trapper
bblwi  Offline
trapper
B

Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
The market favors Biden over Trump for stability reasons and has for months. Also the market is a forward looking investment vehicle and with the US and the world on course to have significant cases of the virus for the next several months the markets are turning downward on that likelihood. The Best estimates for viable vaccine release and usage is late 2nd quarter, early 3rd quarter 2021 which is another 6-9 months out. There is not one nation that has been successful with just herd immunity as their plan. Sweden did not shut down but they instituted several measures to be able to isolate. If the major initial work of a new administration will be modifying the ACA, infrastructure and infusing funds into the economy to weather COVID there will not be much downward pressure on lowering the economy or economic growth. With the vast majority of the US society feeling that current federal efforts to manage the virus have fallen far short there needs to be attention in that area quickly.

Bryce

Re: Dow dropped 900+ points [Re: Gary Benson] #7032426
10/30/20 09:45 AM
10/30/20 09:45 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
I'd be very surprised if the majority of society feels that the federal government has fallen short in managing the virus, Biden has proposed nothing except locking down the country. It isn't a federal issue anyway.

The market will accept Biden because they know there will be trillions more taxpayer dollars sloshing around with nowhere to go..........except the market.They also know that whatever Biden does will not affect them.
They would actually prefer Trump because his administration would be much more business friendly in terms of taxation and regulation.


Mean As Nails
Re: Dow dropped 900+ points [Re: Gary Benson] #7032454
10/30/20 10:22 AM
10/30/20 10:22 AM
Joined: Aug 2012
Posts: 3,972
South Dakota
R
Rat Masterson Offline
trapper
Rat Masterson  Offline
trapper
R

Joined: Aug 2012
Posts: 3,972
South Dakota
I find it hard to believe that anyone thinks Biden is stable, predictable would be a better word. Wall street knows the country would go back to crony capitalism, under the table dealings and payoffs. Biden embraces this conduct and has been party to this for years. If the Dems take all I believe there will be a sell off because Biden will enact his tax plan asap being he will not run a second time.

Re: Dow dropped 900+ points [Re: Gary Benson] #7032486
10/30/20 11:01 AM
10/30/20 11:01 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
I agree


Mean As Nails
Re: Dow dropped 900+ points [Re: Gary Benson] #7032596
10/30/20 01:19 PM
10/30/20 01:19 PM
Joined: Mar 2010
Posts: 3,035
wyoming southeast
D
danvee Offline
trapper
danvee  Offline
trapper
D

Joined: Mar 2010
Posts: 3,035
wyoming southeast
As long as Covid is out of control the Market is going to be a bumpy ride.

Re: Dow dropped 900+ points [Re: danvee] #7032963
10/30/20 08:55 PM
10/30/20 08:55 PM
Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
B
bblwi Offline
trapper
bblwi  Offline
trapper
B

Joined: Dec 2006
Posts: 11,294
East-Central Wisconsin
You can also do conversions of deferred to ROTHS as we are doing now during these lower tax bracket years. Basically we are prepaying the taxes on our deferred investments while the rates are low. We watch the caps that one can run into while doing that. We plan to do this at least until 2025 when the lower rates with the last tax law reverts back to the earlier rates. One of the reasons we are doing this is the new tax law requires heirs of your deferred accounts to now empty the account in 10 years.

One of the questions I never asked Coonman was is the income he makes now while working adequate to meet his needs? If so then he knows what it takes for him to live on and then his SSI payments can be fit in with the amount of work required to continue the income he has now. If current income is inadequate then more planning needs to be done.

Bryce

Re: Dow dropped 900+ points [Re: bblwi] #7033057
10/30/20 10:08 PM
10/30/20 10:08 PM
Joined: Jan 2007
Posts: 3,960
Northern Nevada
B
Bob Offline
trapper
Bob  Offline
trapper
B

Joined: Jan 2007
Posts: 3,960
Northern Nevada
Originally Posted by bblwi
You can also do conversions of deferred to ROTHS as we are doing now during these lower tax bracket years. Basically we are prepaying the taxes on our deferred investments while the rates are low. We watch the caps that one can run into while doing that. We plan to do this at least until 2025 when the lower rates with the last tax law reverts back to the earlier rates. One of the reasons we are doing this is the new tax law requires heirs of your deferred accounts to now empty the account in 10 years.

One of the questions I never asked Coonman was is the income he makes now while working adequate to meet his needs? If so then he knows what it takes for him to live on and then his SSI payments can be fit in with the amount of work required to continue the income he has now. If current income is inadequate then more planning needs to be done.

Bryce


Also called a backdoor Roth, a very good idea if you have the extra cash to pay the taxes on it.

Last edited by Bob; 10/30/20 10:08 PM.

"I have two guns, one for each of ya."
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