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  • Re: Asian giant for HC

    [quote user="mjg407"][quote user="AsianGiant"]MJ, do you know why the gov't caps our IRA contributions to $4K a year?

    What gives? There should be no cap at all...why are they trying to limit how much
    we can earn in later years?
    [/quote]Well if you do a traditional IRA ( which most of us can't because you have to earn a pretty low threshold) it used to only be 2000 a year. The money you put in there is pre tax dollars so lets say you earn 40K, you put 4K in your IRA, you only pay fed taxes on 36K. The Roth is really much better because you don't get the pretax advantage, but your money grows tax free and when you take it out that is tax exempt too. The reasoning is most likely a risk mitigation thing. They want to still stick it to you somehow. 401Ks are even crazier. The max you can contribute can be limited to what others at your work do! So if you are in a small company, with very few employees contributing, the GOV limits how much you can contribute.[/quote]

    Interesting, I need to look into all that and make sure I'm doing the right thing. I also don't want to
    be foolish and put every penny I have into one of these retirement funds because of course, I need
    emergency money too....

    My company is young and it only started last year so I have no 401K plan. My former company I had
    a 401K plan for 7 years and I rolled that over to an IRA...

    Comment


    • Re: Asian giant for HC



      [quote user="AsianGiant"][quote user="mjg407"][quote user="AsianGiant"]MJ, do you know why the gov't caps our IRA contributions to $4K a year?

      What gives? There should be no cap at all...why are they trying to limit how much
      we can earn in later years?
      [/quote]Well if you do a traditional IRA ( which most of us can't because you have to earn a pretty low threshold) it used to only be 2000 a year. The money you put in there is pre tax dollars so lets say you earn 40K, you put 4K in your IRA, you only pay fed taxes on 36K. The Roth is really much better because you don't get the pretax advantage, but your money grows tax free and when you take it out that is tax exempt too. The reasoning is most likely a risk mitigation thing. They want to still stick it to you somehow. 401Ks are even crazier. The max you can contribute can be limited to what others at your work do! So if you are in a small company, with very few employees contributing, the GOV limits how much you can contribute.[/quote]

      Interesting, I need to look into all that and make sure I'm doing the right thing. I also don't want to
      be foolish and put every penny I have into one of these retirement funds because of course, I need
      emergency money too....

      My company is young and it only started last year so I have no 401K plan. My former company I had
      a 401K plan for 7 years and I rolled that over to an IRA...

      [/quote]Yeah the only time I could really take advantage of a traditional IRA was when I first came in the Navy. (But because I was technically covered by a pension too! which is bS since the pension only applies after 20 years). You can always roll an IRA into a Roth.</P>


      http://beginnersinvest.about.com/cs/...dvsrothira.htm</P>

      Comment


      • Re: Asian giant for HC

        [quote user="mjg407"]

        Yeah the only time I could really take advantage of a traditional IRA was when I first came in the Navy. (But because I was technically covered by a pension too! which is bS since the pension only applies after 20 years). You can always roll an IRA into a Roth.</p>


        http://beginnersinvest.about.com/cs/...dvsrothira.htm</p>[/quote]

        Thanks I will check out the link. People like britney and paris never have to worry
        about planning because they are so loaded.

        But actually there are some reports that Britney burns through money like there is
        no tomorrow, which is no surprise. The problem is she is so well known, she can
        always make a lot of money doing something...

        Comment


        • Re: Asian giant for HC

          Ohh I like the Roth, and until I make over $95K I will stick to it!!

          So basically, my goal is to invalidate myself and not be able to use the Roth
          one day because that would mean I would make more than $95K!

          Comment


          • Re: Asian giant for HC



            AG,</P>


            Here is a link to see if you are better off with an IRA or Roth. Like I said, the military screws you because you are considered covered by a Qualified Retirement Plan, but you really aren't.</P>


            http://www.wellsfargoadvantagefunds....smy_output.jsp</P>


            </P>

            Comment


            • Re: Asian giant for HC

              [quote user="AsianGiant"]Ohh I like the Roth, and until I make over $95K I will stick to it!!

              So basically, my goal is to invalidate myself and not be able to use the Roth
              one day because that would mean I would make more than $95K!
              [/quote]It all depends on when you want to pay peter. With my companies 401k, that money isn't taxed. The military had one too, but it was a dog, and they didn't match funds. Right now with my company I put 10% of my income into the 401k and they match 50%, so it's like an extra 5% pay. In 2008 I think the IRA/Roth goes up to 5k.

              Comment


              • Re: Asian giant for HC



                [+o(][]</P>
                <H1>Rats Chew Off Newborn Baby's Nose, Upper Lip in Kansas City, Mo., Apartment</H1>


                Wednesday, February 28, 2007</P>


                </P>
                <DIV style="FLOAT: right">
                <DIV class=console_el>ADVERTISEMENT
                <SCRIPT type=text/javascript>get_a(300,250,"frame1");</SCRIPT>

                <SCRIPT src="http://ad.doubleclick.net/adj/fnc.us;dcopt=ist;comp=;ptype=printerfriendly;pagei d=265823;col=;kw=;s1=;s2=;pos=frame1;url=printer_f riendly_story_0_3566_255328_00;fnc=ad;segs=e05510_ 10135;segs=e05510_10173;segs=e05510_10175;segs=e05 510_10194;segs=e05510_10215;sz=300x250;tile=1;ord= 512706439?" type=text/javascript></SCRIPT>
                </DIV></DIV>


                KANSAS CITY, Mo.</P>


                Exterminators began sweeping a Kansas City neighborhood infested with rats after one of the rodents crawled into a baby's crib and severely disfigured the girl's face. </P>


                </P>


                Authorities said the girl's parents put her in a crib next to their bed early Sunday and awoke a few hours later, when a heart and breathing monitor alarm went off. The 4-week-old baby, which had been born prematurely, was lying in a pool of blood with her nose and part of her upper lip chewed off</P>

                Comment


                • Re: Asian giant for HC

                  [quote user="mjg407"][quote user="AsianGiant"]Ohh I like the Roth, and until I make over $95K I will stick to it!!

                  So basically, my goal is to invalidate myself and not be able to use the Roth
                  one day because that would mean I would make more than $95K!
                  [/quote]It all depends on when you want to pay peter. With my companies 401k, that money isn't taxed. The military had one too, but it was a dog, and they didn't match funds. Right now with my company I put 10% of my income into the 401k and they match 50%, so it's like an extra 5% pay. In 2008 I think the IRA/Roth goes up to 5k.[/quote]

                  My last company was the same way. They were so cheap, they barely matched anything I put in.
                  So I was really doing it on my own.

                  5K isn't too shabby, perhaps I will keep my traditional then because I don't know if I will even
                  have $5K to spare every year to contribute. I will ponder this....

                  Comment


                  • Re: Asian giant for HC

                    [quote user="mjg407"]

                    [+o(][]</p>
                    <h1>Rats Chew Off Newborn Baby's Nose, Upper Lip in Kansas City, Mo., Apartment</h1>


                    Wednesday, February 28, 2007</p>


                    </p>
                    <div style="float: right;">
                    <div class="console_el">ADVERTISEMENT
                    <script type="text/javascript">get_a(300,250,"frame1");</script>

                    <script src="http://ad.doubleclick.net/adj/fnc.us;dcopt=ist;comp=;ptype=printerfriendly;pagei d=265823;col=;kw=;s1=;s2=;pos=frame1;url=printer_f riendly_story_0_3566_255328_00;fnc=ad;segs=e05510_ 10135;segs=e05510_10173;segs=e05510_10175;segs=e05 510_10194;segs=e05510_10215;sz=300x250;tile=1;ord= 512706439?" type="text/javascript"></script>
                    </div></div>


                    KANSAS CITY, Mo.</p>


                    Exterminators began sweeping a Kansas City neighborhood infested with rats after one of the rodents crawled into a baby's crib and severely disfigured the girl's face. </p>


                    </p>


                    Authorities said the girl's parents put her in a crib next to their bed early Sunday and awoke a few hours later, when a heart and breathing monitor alarm went off. The 4-week-old baby, which had been born prematurely, was lying in a pool of blood with her nose and part of her upper lip chewed off</p>[/quote]

                    That's sad, what the hell is going on with rats lately!!??

                    Comment


                    • Re: Asian giant for HC

                      Here's a question, can you have both a Roth and Traditional IRA at the same time?

                      Comment


                      • Re: Asian giant for HC

                        [quote user="AsianGiant"][quote user="mjg407"]

                        [+o(][]</p>
                        <h1>Rats Chew Off Newborn Baby's Nose, Upper Lip in Kansas City, Mo., Apartment</h1>


                        Wednesday, February 28, 2007</p>


                        </p>
                        <div style="float: right;">
                        <div class="console_el">ADVERTISEMENT
                        <script type="text/javascript">get_a(300,250,"frame1");</script>

                        <script src="http://ad.doubleclick.net/adj/fnc.us;dcopt=ist;comp=;ptype=printerfriendly;pagei d=265823;col=;kw=;s1=;s2=;pos=frame1;url=printer_f riendly_story_0_3566_255328_00;fnc=ad;segs=e05510_ 10135;segs=e05510_10173;segs=e05510_10175;segs=e05 510_10194;segs=e05510_10215;sz=300x250;tile=1;ord= 512706439?" type="text/javascript"></script>
                        </div></div>


                        KANSAS CITY, Mo.</p>


                        Exterminators began sweeping a Kansas City neighborhood infested with rats after one of the rodents crawled into a baby's crib and severely disfigured the girl's face. </p>


                        </p>


                        Authorities said the girl's parents put her in a crib next to their bed early Sunday and awoke a few hours later, when a heart and breathing monitor alarm went off. The 4-week-old baby, which had been born prematurely, was lying in a pool of blood with her nose and part of her upper lip chewed off</p>[/quote]

                        That's sad, what the hell is going on with rats lately!!??

                        [/quote]

                        eeeeeeewwwwwww
                        rats suck

                        Comment


                        • Re: Asian giant for HC

                          [quote user="JerseyGiant21"]

                          eeeeeeewwwwwww
                          rats suck
                          [/quote]

                          There's something really gross about rats. They are like mutated mice...

                          Comment


                          • Re: Asian giant for HC



                            [quote user="AsianGiant"]Here's a question, can you have both a Roth and Traditional IRA at the same time?
                            [/quote]Tried to answer you, but then my entire computer locked up and I had to reboot. </P>


                            You can own both, but I don't know if you can contribute to both in the same year. SO you could put $2500 to your Roth, and $2500 to your IRA. But you would need to ensure you keep track which one was which. Meaning, there are fees to change from a Roth to an IRA, etc....</P>

                            Comment


                            • Re: Asian giant for HC

                              [quote user="mjg407"]

                              [quote user="AsianGiant"]Here's a question, can you have both a Roth and Traditional IRA at the same time?
                              [/quote]Tried to answer you, but then my entire computer locked up and I had to reboot. </p>


                              You can own both, but I don't know if you can contribute to both in the same year. SO you could put $2500 to your Roth, and $2500 to your IRA. But you would need to ensure you keep track which one was which. Meaning, there are fees to change from a Roth to an IRA, etc....</p>[/quote]

                              eh screw that, that's too much work for me.....I like to have options but at the same time
                              like to keep things as simple as possible....

                              Comment


                              • Re: Asian giant for HC



                                Once again I come on and no one else is here. Why is no one here when I can come on?</P>

                                Comment

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