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Old 08-15-2013, 11:49 AM   #91
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Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

Quote:
Originally Posted by Arby View Post
Very nsync!

So in order to get around taxes, these other things - roth IRL for example - would have to be set up with your employer, correct? Since it needs to be taken out of your paycheck?
401K cums out of your check.
IRA and Roth IRA don't.
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  • Old 08-15-2013, 11:50 AM   #92
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by Arby View Post
    Very nsync!

    So in order to get around taxes, these other things - roth IRL for example - would have to be set up with your employer, correct? Since it needs to be taken out of your paycheck?
    well, a roth account is post tax. so no. but yeah, everything needs to come pre tax to reduce your "reported" income.

    IRA's are non employer based retirement accounts (hence the individual retirement name). it's what you'd roll your 401k in to if you changed jobs.
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    Old 08-15-2013, 11:52 AM   #93
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post
    401K cums out of your check.
    IRA and Roth IRA don't.
    Quote:
    Originally Posted by unccrombie View Post
    well, a roth account is post tax. so no. but yeah, everything needs to come pre tax to reduce your "reported" income.

    IRA's are non employer based retirement accounts (hence the individual retirement name). it's what you'd roll your 401k in to if you changed jobs.

    Gotcha - I see.

    So other than a 401K, what are other possible "pre tax" options?
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    Old 08-15-2013, 11:55 AM   #94
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by unccrombie View Post
    well, a roth account is post tax. so no. but yeah, everything needs to come pre tax to reduce your "reported" income.

    IRA's are non employer based retirement accounts (hence the individual retirement name). it's what you'd roll your 401k in to if you changed jobs.
    you can just roll it into your next 401k.
    that's what i did.

    Quote:
    Originally Posted by Arby View Post
    Gotcha - I see.

    So other than a 401K, what are other possible "pre tax" options?
    what's the question arby?
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    Old 08-15-2013, 11:56 AM   #95
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    you can just roll it into your next 401k.
    that's what i did.
    i guess that'd make more sense. avoid the management fees and all.
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    Old 08-15-2013, 11:59 AM   #96
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    If you could take money out of your 410K at say 50.. I think I'd be willing to put a large portion of my paycheck in there.
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    Old 08-15-2013, 11:59 AM   #97
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post

    what's the question arby?
    What? haha

    When it comes to investing, are there any other options other than the 401k that come out of your check "pre tax"?
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    Old 08-15-2013, 12:01 PM   #98
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    nothing "out of your check"....you can put money in an ira...then claim in on your taxes (so it's kind of the same thing)
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    Old 08-15-2013, 12:02 PM   #99
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by Arby View Post
    What? haha

    When it comes to investing, are there any other options other than the 401k that come out of your check "pre tax"?
    is there any reason you're leaning toward the pre-tax side of things? The money you're "saving" on taxes now should go directly in to another account (roth, whatever). otherwise you're on the hook for a couple hundred grand by the time you retire. i did the math for myself. I'd end up having an extra $400,000 by doing Roth.
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    Old 08-15-2013, 12:03 PM   #100
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by unccrombie View Post
    i guess that'd make more sense. avoid the management fees and all.
    Not all companies allow for you to roll your old 401(k) into their plan, and there are also some dollar amount limits on what can be rolled out and into another plan.
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    Old 08-15-2013, 12:04 PM   #101
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by treytreyw222 View Post
    Not all companies allow for you to roll your old 401(k) into their plan, and there are also some dollar amount limits on what can be rolled out and into another plan.
    yeah, i'll cross that bridge when i come to it. if i come to it.
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    Old 08-15-2013, 12:05 PM   #102
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by unccrombie View Post
    is there any reason you're leaning toward the pre-tax side of things? The money you're "saving" on taxes now should go directly in to another account (roth, whatever). otherwise you're on the hook for a couple hundred grand by the time you retire. i did the math for myself. I'd end up having an extra $400,000 by doing Roth.
    Well some people prefer pre-tax because they can manipulate their tax bracket when they need to pull out the money later in life.
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    Old 08-15-2013, 12:07 PM   #103
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
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    Well some people prefer pre-tax because they can manipulate their tax bracket when they need to pull out the money later in life.
    i suppose it depends on how you want to live in your retirement years. i for one don't want a decreased quality of life, so im banking on a tax bracket increase. PLUS, you know taxes will be going up.
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    Old 08-15-2013, 12:11 PM   #104
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    Originally Posted by unccrombie View Post
    i suppose it depends on how you want to live in your retirement years. i for one don't want a decreased quality of life, so im banking on a tax bracket increase. PLUS, you know taxes will be going up.
    ya this doesn't have to happen....you are paying the taxes regardless, its just when.
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    Old 08-15-2013, 12:14 PM   #105
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by AJF_41 View Post
    nothing "out of your check"....you can put money in an ira...then claim in on your taxes (so it's kind of the same thing)
    Quote:
    Originally Posted by unccrombie View Post
    is there any reason you're leaning toward the pre-tax side of things? The money you're "saving" on taxes now should go directly in to another account (roth, whatever). otherwise you're on the hook for a couple hundred grand by the time you retire. i did the math for myself. I'd end up having an extra $400,000 by doing Roth.
    Im still reading this book, but so far it seems like that is kind of what they're going for. They seem to be talking up the idea of lowering your realized income so Sam cant get it. Its not like the main point they are making, but 1 of many points I think.
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    Old 08-15-2013, 12:14 PM   #106
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by treytreyw222 View Post
    ya this doesn't have to happen....you are paying the taxes regardless, its just when.
    well, yeah, but if i'm moving up in tax brackets, i'm saving money. plus, if the taxes increase in 15 years, the money invested is also spared that increase.
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    Old 08-15-2013, 12:18 PM   #107
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
    Originally Posted by Arby View Post
    Im still reading this book, but so far it seems like that is kind of what they're going for. They seem to be talking up the idea of lowering your realized income so Sam cant get it. Its not like the main point they are making, but 1 of many points I think.
    i know you're young, but most college savings plans function as tax breaks. so when you're ready to have little franchises, it'd be a good route.
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    Old 09-12-2013, 10:33 AM   #108
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Ok, so I have no idea what's going on. I have probably 2 months worth of expenses accounted for in checking, a little bit in a mutual fund, and am now getting paid. Company matches 5% 401k, but I'm honestly not sure how long I'll be at this company. Should I toss 5% into Roth 401? Should I get an IRA through Vanguard?

    Would I just be better off putting everything on red?
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    Old 09-12-2013, 10:34 AM   #109
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    Ok, so I have no idea what's going on. I have probably 2 months worth of expenses accounted for in checking, a little bit in a mutual fund, and am now getting paid. Company matches 5% 401k, but I'm honestly not sure how long I'll be at this company. Should I toss 5% into Roth 401? Should I get an IRA through Vanguard?

    Would I just be better off putting everything on red?
    Just retire. Sounds like you're in good shape.
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    Old 09-12-2013, 10:35 AM   #110
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    I'm aiming for 25.
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    Quote:
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    bills are paying the jags o-line coach 4 million this year.

    that will be a tough one for the aliens to figure out.
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    Old 09-12-2013, 10:38 AM   #111
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Always take an employer match in a 401k. You're leaving free money on the table otherwise. Even if you don't think you'll be at the company real long, your 401k goes with you when you leave. You can roll that into a new one at a new job.
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    Old 09-12-2013, 10:40 AM   #112
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    Always take an employer match in a 401k. You're leaving free money on the table otherwise. Even if you don't think you'll be at the company real long, your 401k goes with you when you leave. You can roll that into a new one at a new job.
    he won't get the match though unless he hits any of the vesting plateaus....

    do it anyways, just in case you stay there longer than you think
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    Old 09-12-2013, 10:40 AM   #113
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    Always take an employer match in a 401k. You're leaving free money on the table otherwise. Even if you don't think you'll be at the company real long, your 401k goes with you when you leave. You can roll that into a new one at a new job.
    That's what I'm thinking too.

    Is the idea behind Roth that you'll be taxed at a different rate when you withdraw than you are now?
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    bills are paying the jags o-line coach 4 million this year.

    that will be a tough one for the aliens to figure out.
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    Old 09-12-2013, 10:42 AM   #114
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    That's what I'm thinking too.

    Is the idea behind Roth that you'll be taxed at a different rate when you withdraw than you are now?
    roth is taxed now, not later. investments grow and are withdrawn tax free

    traditional is taxed later, and reduces taxable income now.

    Last edited by unccrombie; 09-12-2013 at 10:43 AM.
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    Old 09-12-2013, 10:47 AM   #115
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Right, so the idea is that you'll withdraw when you aren't actually earning income so Roth will be the same?

    As in, if you aren't in a high tax bracket right now Roth is the way to go?
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    bills are paying the jags o-line coach 4 million this year.

    that will be a tough one for the aliens to figure out.
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    Old 09-12-2013, 10:49 AM   #116
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    I worked as a financial advisor until a month ago. I didn't think finance was for me, but reading this thread kinda makes me miss it

    Also want to mention permanent, cash value life insurance here, especially for those in your 20s. I have enough insurance to cover my debts if I die tomorrow, but it's also growing cash as a living benefit. I put $200/mo into my insurance, and the cash will grow enough that I'll be able to put my kids through most of school. It grows roughly 5-6% annually, tax-deferred, and unlike a Roth or 401k, I can withdraw the money whenever I want with no questions asked. Most of it will be used for retirement, but I wanted to mention it in here because nobody else has. It's easily the best place I put money.
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    Old 09-12-2013, 10:50 AM   #117
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

    Quote:
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    Right, so the idea is that you'll withdraw when you aren't actually earning income so Roth will be the same?

    As in, if you aren't in a high tax bracket right now Roth is the way to go?
    no, with traditional the money your withdraw is taxed at that yearly rate. if you withdraw $70k a year from your account it'll be taxed at the $70k rate

    with a roth, it's tax now (at say the $50k rate) and then if you want to withdraw $70k/year or $20k/year there is no tax at all since you already paid it

    Last edited by unccrombie; 09-12-2013 at 10:52 AM.
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    Old 09-12-2013, 11:07 AM   #118
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    no, with traditional the money your withdraw is taxed at that yearly rate. if you withdraw $70k a year from your account it'll be taxed at the $70k rate

    with a roth, it's tax now (at say the $50k rate) and then if you want to withdraw $70k/year or $20k/year there is no tax at all since you already paid it
    Oh, ok, I guess in my head I was picturing withdrawing it all at once, which I guess...doesn't happen?
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    bills are paying the jags o-line coach 4 million this year.

    that will be a tough one for the aliens to figure out.
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    Old 09-12-2013, 11:09 AM   #119
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    Oh, ok, I guess in my head I was picturing withdrawing it all at once, which I guess...doesn't happen?
    i mean, you could, you'd just get taxed at the withdraw rate
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    Old 09-12-2013, 11:11 AM   #120
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    Re: The Investment Thread (help with savings, stocks, retirement funds, etc.)

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    he won't get the match though unless he hits any of the vesting plateaus....

    do it anyways, just in case you stay there longer than you think
    was just about to write this and i see it in the next post


    never leave $ on the table because "i dont know how long i'll be at this company"...like you said, you dont know. worse comes worse you dont vest, but at least you have the option
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