Re: Dow dropped 900+ points
[Re: Gary Benson]
#7031155
10/29/20 07:02 AM
10/29/20 07:02 AM
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Joined: Nov 2015
Posts: 829 Maine
SleekOtter
trapper
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trapper
Joined: Nov 2015
Posts: 829
Maine
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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.
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Re: Dow dropped 900+ points
[Re: Bob]
#7031250
10/29/20 08:22 AM
10/29/20 08:22 AM
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Joined: Nov 2007
Posts: 9,780 St. Cloud, MN
trapperkeck
trapper
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trapper
Joined: Nov 2007
Posts: 9,780
St. Cloud, MN
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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!"
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Re: Dow dropped 900+ points
[Re: trapperkeck]
#7031349
10/29/20 10:16 AM
10/29/20 10:16 AM
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Joined: Jan 2007
Posts: 3,960 Northern Nevada
Bob
trapper
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trapper
Joined: Jan 2007
Posts: 3,960
Northern Nevada
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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."
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Re: Dow dropped 900+ points
[Re: Gary Benson]
#7031374
10/29/20 10:48 AM
10/29/20 10:48 AM
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Mark June
Unregistered
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Mark June
Unregistered
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ADS on a roll after earnings.
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Re: Dow dropped 900+ points
[Re: white17]
#7031425
10/29/20 11:37 AM
10/29/20 11:37 AM
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Joined: Dec 2006
Posts: 15,594 MN, Land of 10,000 Lakes
Trapper7
trapper
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trapper
Joined: Dec 2006
Posts: 15,594
MN, Land of 10,000 Lakes
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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.
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Re: Dow dropped 900+ points
[Re: Gary Benson]
#7032333
10/30/20 08:35 AM
10/30/20 08:35 AM
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Joined: Dec 2006
Posts: 2,213 central Missouri
Bigfoot
trapper
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trapper
Joined: Dec 2006
Posts: 2,213
central Missouri
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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.
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Re: Dow dropped 900+ points
[Re: Gary Benson]
#7032377
10/30/20 08:45 AM
10/30/20 08:45 AM
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Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
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"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
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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
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Re: Dow dropped 900+ points
[Re: bblwi]
#7033057
10/30/20 10:08 PM
10/30/20 10:08 PM
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Joined: Jan 2007
Posts: 3,960 Northern Nevada
Bob
trapper
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trapper
Joined: Jan 2007
Posts: 3,960
Northern Nevada
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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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