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Wait, is Julia arguing you should NOT use tax advantaged retirement accts? Jfc
Poast new message in this thread
Date: January 20th, 2018 5:02 PM Author: Beady-eyed Hominid (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198425) |
Date: January 20th, 2018 5:04 PM Author: godawful jet useless brakes Julia will be making millions when she's older so there won't be any tax advantage (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198441) |
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Date: January 20th, 2018 5:08 PM Author: Beady-eyed Hominid Of course there is. By putting in pre-tax money you’re increasing the amount of money that is benefitting from growth. That you may need to withdraw at ordianry income tax rate doesn’t offset this. How dumb is she? (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198463) |
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Date: January 20th, 2018 5:10 PM Author: Coiffed chocolate background story How dumb is she?
This is a question that cannot be answered. You may as well ask how many grains of sand are in the ocean or how many hours remain before the end of time. |
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Date: January 20th, 2018 5:11 PM Author: Beady-eyed Hominid Cr (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198475) |
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Date: January 21st, 2018 5:40 PM Author: Coral razzle-dazzle cruise ship (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35204455) |
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Date: January 20th, 2018 5:13 PM Author: territorial hot property trump supporter the transitive property is too difficult a concept for her. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198481) |
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Date: January 20th, 2018 5:13 PM Author: godawful jet useless brakes Julia's money will grow faster in her own hands than a 401k. doesn't she have an MBA and host a finance podcast? why would she pay a fee to one of her finance colleagues to throw her money around (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198483) |
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Date: January 20th, 2018 5:15 PM Author: Beady-eyed Hominid In theory you have horrifically bad 401k options this could make sense. Like if they’re charging 6% management fees. But for most you can find a BlackRock/Vanguard etc option with <0.2 fees.
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Date: January 20th, 2018 6:00 PM Author: Massive Snowy Queen Of The Night Plaza Seriously? jfc. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198665) |
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Date: January 20th, 2018 6:31 PM Author: Beady-eyed Hominid This is unforgivable for even an average person not to understand. Julia is a poleofessional personal finance expert. Wtfffffff. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198834) |
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Date: January 20th, 2018 6:50 PM Author: Coiffed chocolate background story The only thing she is expert in is cockeyed titties and old man testes. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198893) |
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Date: January 20th, 2018 6:33 PM Author: Charismatic doobsian nursing home I don't think she said that.
I think her argument is this. Roth-IRAs are just as a good a vehicle for saving for kids' college education as 529s. Which is true. Infact they are better because what is in your IRAs cannot be considered when evaluating how much financial aid to provide. So she is right here. |
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Date: January 20th, 2018 6:35 PM Author: passionate forum gunner yeah she posts some dumb shit but she's spot on about this (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35198849) |
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Date: January 20th, 2018 6:50 PM Author: rusted candlestick maker She had a point that was applicable to anyone who can’t max their IRAs. Nutella responded from the perspective of someone who makes $400k.
Then it was a cat fight. |
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Date: January 20th, 2018 8:58 PM Author: greedy chad (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35199699) |
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Date: January 21st, 2018 7:13 PM Author: Beady-eyed Hominid not sure what thread you're talking about. i'm talking about this one: http://www.xoxohth.com/thread.php?thread_id=3865563&mc=60&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205147) |
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Date: January 21st, 2018 7:14 PM Author: rusted candlestick maker that's a parody thread (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205164) |
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Date: January 21st, 2018 7:26 PM Author: Beady-eyed Hominid Unless she is parodying herself, she posted dumb shit IN the thread. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205278) |
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Date: January 21st, 2018 7:29 PM Author: Coiffed chocolate background story No, she’s an actual retard. If you find yourself agreeing with her it’s time to killself.
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Date: January 21st, 2018 7:21 PM Author: bright talented preventive strike I have never said any such thing. Roth IRAs are terrific, and even 401Ks offer some modest benefits ( they’re just not the holy grail everyone portrays them as). For most middle-income earners, however, 401Ks remain the best option, because they offer essential protections ( from raiding th cookie jar; from bankruptcy; delaying taxes) that are worthwhile.
The best approach is always to diversify retirement accounts - have some money each in taxable and non-taxable holdings. We aren’t clairvoyants and can’t predict all the nuances of future tax brackets and cash flow needs. I would just suggest you shouldn’t hold the majority of your retirement funds in a 401k, because they’re the least flexible account type. |
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Date: January 21st, 2018 7:25 PM Author: Beady-eyed Hominid You should always max out your 401K over taxable, and it is ALWAYS a better solution than a taxable account. Please tell me you understand this. You can debate roth vs non-roth for individual situations but it is always better to be in a tax advantaged accounts than taxable. Period. End of story. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205273) |
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Date: January 21st, 2018 7:27 PM Author: bright talented preventive strike Wtf? Have you been reading what I’ve been writing? I’ve specifically said you should max out 401k first. That’s like the cardinal rule of personal finance that everyone learns at their first job. It goes without saying.
That said, the order of contributions could, under some circumstances, arguably be better if you:
1) Contribute to 401k up to th company match 2) Contribute to a Roth 3) Contribute to an HSA if there’s a match 4) Anything left can again start going into a 401k
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Date: January 21st, 2018 7:35 PM Author: Beady-eyed Hominid Please explain the dumb shit you wrote here about the advantages of taxable accounts over 401ks here. thanks.
http://www.xoxohth.com/thread.php?thread_id=3865563&mc=60&forum_id=2#35197984 |
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Date: January 21st, 2018 7:38 PM Author: bright talented preventive strike I reject your premise. That is all very wise counsel as to why a 401K should not be your primary retirement savings vehicle if you can afford otherwise. Taxable accounts offer several advantages, and it makes sense to hold 401k, Roth, and taxable funds in order to satisfy myriad potential eventualities and tax/income scenarios. Sticking all your money in a 401k is a one-direction bet; better to hedge.
Still, everyone should max out their 401k if they can afford it. |
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Date: January 21st, 2018 7:41 PM Author: Beady-eyed Hominid I'm sorry are you actually advising that under some circumstances you should hold assets in a taxable account instead of a tax-advantaged 401k or Roth? Explain yourself. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205480) |
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Date: January 21st, 2018 7:41 PM Author: bright talented preventive strike You can’t read. Good night. Maybe it’ll help if someone else explains to you that advantages to taxable accounts actually exist. Here’s a very basic primer on the subject, in case you’d never come across the topic:
https://www.nerdwallet.com/blog/investing/7-advantages-of-investing-in-taxable-accounts/ |
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Date: January 21st, 2018 7:45 PM Author: Beady-eyed Hominid "it makes sense to hold 401k, Roth, and taxable funds in order to satisfy myriad potential eventualities and tax/income scenarios."
I can read, and this is wrong. It does not "make sense" to hold money in a taxable account over tax advantaged one EVER. If all you're trying to say is that it makes sense to have taxable accounts if and when you've hit limits in all your tax advantaged accounts then that's obvious but it sure sounds like you're writing that it makes sense to "diversify" into a taxable account for "myriad potential eventualities and tax/income scenarios." But maybe you just can't write. |
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Date: January 21st, 2018 7:47 PM Author: bright talented preventive strike Lol. Just stop. Being innumerate is fine, but illiterate? Learn to read. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205537) |
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Date: January 21st, 2018 7:49 PM Author: Beady-eyed Hominid Please state what the fuck you are saying. True or false: there is no reason to hold money in EACH OF 401k, roth and taxable, as you stated, except because there is no more room in your tax-advantaged accounts. Hint: the answer is true. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205556) |
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Date: January 21st, 2018 7:47 PM Author: Beady-eyed Hominid lol at your edit: I'm the one arguing that tax advantaged is always the right solution, and you should never hold money in a taxable account except when you're maxed out, regardless of the "myriad reasons" you mention. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205540) |
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Date: January 21st, 2018 7:39 PM Author: Coiffed chocolate background story Just stop. I can’t take anymore Julia retardation. It hurts my brain. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205467) |
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Date: January 21st, 2018 7:27 PM Author: Curious ceo keepsake machete nah man, just pay taxes up front, taxes on dividends throughout the life of the equity holding, and taxes on capital gains when you sale. All before maxing a 401(k). LOL. (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205298) |
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Date: January 21st, 2018 10:50 PM Author: Avocado antidepressant drug police squad You don't get it! The income tax on 401k when you take it out makes up for capital gains savings! LJL at you! (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35206949) |
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Date: January 21st, 2018 7:47 PM Author: appetizing pocket flask 180 thread (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205542) |
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Date: January 21st, 2018 7:48 PM Author: topaz library arguing this where? (http://www.autoadmit.com/thread.php?thread_id=3865714&forum_id=2#35205553) |
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Date: January 21st, 2018 7:50 PM Author: Beady-eyed Hominid "it makes sense to hold 401k, Roth, and taxable funds in order to satisfy myriad potential eventualities and tax/income scenarios."
see also http://www.xoxohth.com/thread.php?thread_id=3865563&mc=60&forum_id=2#35197984:
"4) 401K fees and offerings are often less advantageous than a taxable account.
5) Funds in a brokerage account can be converted into IRAs, or you can pool many account types, making you a preferred customer and qualifying you for preferential treatment/rates.You can't convert a 401K into anything except a rollover account.
6) Opportunity cost of keeping money tied in a 401K and not invested more lucratively elsewhere.
Again, the advantages of a 401K are limited to 1) Employer match 2) bankruptcy protection, 3) lowering current taxable income ( for IBR or PAYE, for example), and 4) encouraging undisciplined savers to keep heir hands out of the cookie jar."
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Date: January 21st, 2018 7:52 PM Author: Violet Boltzmann I think most of this advice is just tinkering at the margins for most people, given the sums involved. The only exception is to contribute to a tax sheltered account before a taxable account.
People would be better served learning about how to avoid getting gouged on their home purchase. |