Got my new paycheck today with new withholding.

[67 Rover]

winning to you maybe, but to the average DUmmy who is on the dole and doesn't get a tax cut, it just isn't fair....

Hmmm. You may be on to something here. Fair tax. 

[I_B_Perky]

Or said in 2008 that $40 every two weeks in payroll taxes would be extremely helpful to the average American.

H5! I forgot about that one as well!  As far as I am concerned if I get just one dollar more than I was getting... then that is more than I had before and I will take it!

Not so much anymore. Indexed ETFs can accomplish the same or better without the exorbitant fees of a loaded mutual fund. Really really REALLY basic investing is finding an S&P indexed ETF, contributing to it monthly and build it til the dividends support your end goals and ignore it even more knowing that you're averaging a 10% annual return

You are correct... but I was assuming he was talking about company offered 401k.  Most of them still use mutual funds... at least to my knowledge.  I thought most indexed funds were no load?  Anyway... the key here is long term, monthly investing thru the ups and downs of the market over 30 or so years.  First piece of advice my dad gave me back in the early 80's when I entered the workforce.  I stuck to it and now got a sizable, for me at least, chunk of change.  Ain't rich by any means... but I won't need SS when I retire and  will be able continue my lifestyle.   I consider that a win! 

[BattleHymn]

I'm using my first bumped paycheck to buy a nice codpiece for my freedom boner.

[landofconfusion80]

You are correct... but I was assuming he was talking about company offered 401k.  Most of them still use mutual funds... at least to my knowledge.  I thought most indexed funds were no load?  Anyway... the key here is long term, monthly investing thru the ups and downs of the market over 30 or so years.  First piece of advice my dad gave me back in the early 80's when I entered the workforce.  I stuck to it and now got a sizable, for me at least, chunk of change.  Ain't rich by any means... but I won't need SS when I retire and  will be able continue my lifestyle.   I consider that a win! 

mutual funds are pretty brutal on their fees. Especially when actively managed funds don't return any better than passive funds. They make ETFs for just about anything, wish they were available in 401ks. If you can spare a little more every month, a Roth ira on top of that 401k would make retirement a little more cozy

[DUmpsterDiver]

Wow.  Friday payday showed me enough to see that the Moly has greased the skids enough to get even the most galled idiots moving in the right direction.

[I_B_Perky]

mutual funds are pretty brutal on their fees. Especially when actively managed funds don't return any better than passive funds. They make ETFs for just about anything, wish they were available in 401ks. If you can spare a little more every month, a Roth ira on top of that 401k would make retirement a little more cozy

Was talking about the passive funds, not active managed.  Can you do a Roth IRA if you have a 401k?  I thought you couldn't. Keep in mind I ain't the smartest guy when it comes to tax shit.  Thank goodness for tax software!   

[BattleHymn]

Was talking about the passive funds, not active managed.  Can you do a Roth IRA if you have a 401k?  I thought you couldn't. Keep in mind I ain't the smartest guy when it comes to tax shit.  Thank goodness for tax software!   

Yes, although total contributions combined cannot be over whatever the limit is for that year.

[landofconfusion80]

Was talking about the passive funds, not active managed.  Can you do a Roth IRA if you have a 401k?  I thought you couldn't. Keep in mind I ain't the smartest guy when it comes to tax shit.  Thank goodness for tax software!   

Absolutely you can do both. The annual limit on a Roth ira is 5500. You contribute post-tax dollars to a Roth, where as a 401k is pretax. What I like about Roth is that the money that grows isn't taxed upon withdrawal and it can take investments in anything, mutual funds, ETFs, regular stock, you name it. But 401k limit is 18000 but I always advise to contribute to just the match and focus more on the others. I also keep a traditional ira, but that's just a retirement community for old 401ks

[freedumb2003b]

Absolutely you can do both. The annual limit on a Roth ira is 5500. You contribute post-tax dollars to a Roth, where as a 401k is pretax. What I like about Roth is that the money that grows isn't taxed upon withdrawal and it can take investments in anything, mutual funds, ETFs, regular stock, you name it. But 401k limit is 18000 but I always advise to contribute to just the match and focus more on the others. I also keep a traditional ira, but that's just a retirement community for old 401ks

My whole thing got complicated when I went out on my own and started my own company.  I have 401(k)s sitting there just growing without external input (well, until last Friday, that is).  I have IRAs for Mrs. FD and me that we contribute to every month.  A Roth makes no sense since my tax bracket is much higher now than it will be when I am withdrawing.

[landofconfusion80]

My whole thing got complicated when I went out on my own and started my own company.  I have 401(k)s sitting there just growing without external input (well, until last Friday, that is).  I have IRAs for 4Mrs. FD and me that we contribute to every month.  A Roth makes no sense since my tax bracket is much higher now than it will be when I am withdrawing.

I know the feeling. We became accidental landlords a few years ago, realized that we have a knack for it and discovered depreciation and tax sheltering. Is it a huge headache? Oh yea. But having multiple income streams (including a new farming business) sure helps if the regular job takes a dive.

[I_B_Perky]

Absolutely you can do both. The annual limit on a Roth ira is 5500. You contribute post-tax dollars to a Roth, where as a 401k is pretax. What I like about Roth is that the money that grows isn't taxed upon withdrawal and it can take investments in anything, mutual funds, ETFs, regular stock, you name it. But 401k limit is 18000 but I always advise to contribute to just the match and focus more on the others. I also keep a traditional ira, but that's just a retirement community for old 401ks

Thanks Landofconfusion!!!!!  I wil definitely look into it.

My whole thing got complicated when I went out on my own and started my own company.  I have 401(k)s sitting there just growing without external input (well, until last Friday, that is).  I have IRAs for Mrs. FD and me that we contribute to every month.  A Roth makes no sense since my tax bracket is much higher now than it will be when I am withdrawing.

Now that is something I never thought about... being in a lower bracket when I retire.  Thanks for the tip!

H5 to both of you.

[landofconfusion80]

Thanks Landofconfusion!!!!!  I wil definitely look into it.

Now that is something I never thought about... being in a lower bracket when I retire.  Thanks for the tip!

H5 to both of you.

Forgot to mention...when you've maxed out all those venues you still have places to dump cash. You can treat an HSA(health savings account) as another retirement fund and have old age completely funded. And taxable brokerage accounts are just as viable as anything else and can help to fund your mansion construction without Helocs or any of that plebian nonsense

[FlaGator]

I think the DUers should get real acquainted with the Pelosi's "crumb" statement. They are going to be hearing that word a lot in campaign advertisements and stump speeches this year.