The stock market

employer funded deferred are the best.....by brother just retired from local 3 with a 7 figure balance

Meanwhile we are at end of the month SOON....odds are favoring DA BULL!!

P.S. dICKS SPORTING GOODS IS UP 13 POINTs PRE-MARKET (no guns no problem

DICK'S Sporting Goods Reports Record Quarterly Sales and Earnings in Second Quarter 2021; Delivers 19.2% Increase in Same Store Sales, Raises Full Year Guidance and Enhances 2021 Capital Allocation Plan​

 
movetheboat said:
employer funded deferred are the best.....by brother just retired from local 3 with a 7 figure balance

Meanwhile we are at end of the month SOON....odds are favoring DA BULL!!

P.S. dICKS SPORTING GOODS IS UP 13 POINTs PRE-MARKET (no guns no problem

DICK'S Sporting Goods Reports Record Quarterly Sales and Earnings in Second Quarter 2021; Delivers 19.2% Increase in Same Store Sales, Raises Full Year Guidance and Enhances 2021 Capital Allocation Plan​

Click to expand...

20% tax, upon withdrawal... million bucks gotta give back $200,000, maybe more wit Biden in control... cellfish...
 
Snapprhead27 said:
My deferred comp at work I do part Roth and part traditional... I also opened up a a separate IUL, also Roth. I've read some pretty good books on tax free investment. Need to give myself plenty of options. Don't want to depend on my retirement and SS alone.
Click to expand...
And please, whatever you do, seek out professional financial advice for planning strategies. This is definitely not the forum to rely on for your future!!
 
Simple calculation, $1 Million of income (forget about state taxes) with only the standard deduction for 2021 generates a federal tax bill of around $297K!

Now, that is proposed to go even HIGHER with the new tax plan. And if you have LT cap gains and dividends, that income would be converted to ordinary income tax rates. Again, all in the air right now.
 
You millionaires should also consider long term care insurance if you have descendants and don't plan on spending it all before you croak. Its not for everyone but its what we did as we live very modestly.
 
Medical issues can definitely be one of the largest disruptions to a well planned retirement. LTC insurance does have a place in that process.
 
A million in a retirement acct is not taken out all at once...so those numbers are BS....and even if they weren't...so what!!! RENDER UNTO CAESAR

Will taxes go up?? well lets see as of jan 6th we were at record high debt so what the hell do you think
 
longcast said:
And please, whatever you do, seek out professional financial advice for planning strategies. This is definitely not the forum to rely on for your future!!
Click to expand...
pretty sure all but the VERY STUPID know that....and they wouldn't have any money to lose anyway

but this was a good thread to bounce ideas off until the morons invaded....thats why my cherrys are only PMd to a few who showed interest....and it's FREE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

plenty of professionals out there can lose your money....and they charge you fees to do it

I know this one guy who made ALL his clients MILLIONAIRES.....but they were BILLIONAIRES when they started with him.

save your money and make regualr contributions to low cost mutual index funds....none of the so-called professionals can beat them over time
 
movetheboat said:
A million in a retirement acct is not taken out all at once...so those numbers are BS....and even if they weren't...so what!!! RENDER UNTO CAESAR

Will taxes go up?? well lets see as of jan 6th we were at record high debt so what the hell do you think
Click to expand...
His question was taxes based on $1M distribution. I gave it to him.

So, carefully I ask, if you have a record debt, why would you consider spending even more? When additional taxes would not even come close to covering it? Give it a shot.
 
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movetheboat said:
employer funded deferred are the best.....by brother just retired from local 3 with a 7 figure balance

Meanwhile we are at end of the month SOON....odds are favoring DA BULL!!

P.S. dICKS SPORTING GOODS IS UP 13 POINTs PRE-MARKET (no guns no problem

DICK'S Sporting Goods Reports Record Quarterly Sales and Earnings in Second Quarter 2021; Delivers 19.2% Increase in Same Store Sales, Raises Full Year Guidance and Enhances 2021 Capital Allocation Plan​

Click to expand...
Not employer funded... I fund it 100%.
 
longcast said:
His question was taxes based on $1M distribution. I gave it to him.

So, carefully I ask, if you have a record debt, why would you consider spending even more? When additional taxes would not even come close to covering it? Give it a shot.
Click to expand...
I'm not considering that at all...it was stupid before and stupid now...the difference between us..... is you kept quiet while the idiot was doing it...I condemn them both
 
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