[dr.gonzo!]

No annual maintenance fees, $8 trades and if you use their brokerage online it's $75. I know vanguard sneaks a fee in for having under $2500.

[03SonicBoom]

Originally Posted by Cabikejumper What's an IRA? How does it help you.

It's a way to invest for retirement. There are many different things to invest in an IRA. It helps you by having money when you retire.

[dr.gonzo!]

Originally Posted by Cabikejumper What's an IRA? How does it help you.

IRA is sort of like a savings account, with a historically higher interest rate. (notice I did say historically lol)

Right now, interest rates are really low so if you put your money in a savings account, you are note getting much return. With a roth ira, your saving can grow tax free and when you want to withdraw at 59.5 years old (i thinks the age) You can pull all that money out of your account tax free, which in the future seems like it will be pretty fucking high. A 401k takes like 20-25% when you retire. Not fair I say, not fair.

Use this calculator with a grain of salt. If you get a 10% return, you are doing awesome. I think most people see 8% The max you can contribute is $5000 per year.

http://www.dinkytown.net/java/RothIRA.html

Here is 7% return



Here is 8%


Here is 9%


and 10%

[Cabikejumper]

Interesting. I pulled all my 491k (1300.00) when I got laid off. All my other jobs and current job doesn't offer 401k. I'd be a good investment to start an IRA. Where would I start one? I'll have to start reading up on this.

[PiggySmallz]

Originally Posted by Cabikejumper What's an IRA? How does it help you.

It's an individual retirement account. There are two of them, a roth and a traditional. (there are others but those are the most common). They both allow you to contribute $5,000 a year to them ($6,000 if you are 50+). Where they differ is as follows:

A roth is tax free at when you take withdrawals after 59 and a half. You can take as much as you want when you want tax free. You don't pay any capital gains on the money you make on it. It can be invested in pretty much anything you want. You contribute to it with money you've already paid tax on, contributions are non-deductible. After you make a certain amount, you are no longer allowed to contribute to it. I believe its about $112k a year. You can still contribute by doing a roth conversion, but that's a whole other story.

A traditional on the other hand is very similar, however your distributions are tax deferred. You pay the tax when you take your distributions, based on your tax bracket. Also being it has been accumulating tax deferred, the government wants you to pay the tax on it. You must begin taking distributions from it the year you turn 70 and a half. The plus side, is that any traditional IRA contributions can be deducted from your taxes during the contribution year.

Pre-mature withdrawals without specific exceptions have a 10% penalty.

[dr.gonzo!]

Fidelity, and vanguard are the main ones I have heard of. You can do it at a credit union, but I have heard those are the lowest interest rates. Not sure if it's the the CD itself. To be honest I am not really sure what I do after I open the IRA. I know I would like a percentage in stocks. Even looking at mcdonalds stock over the past 10 years looks good

[PiggySmallz]

Originally Posted by dr.gonzo! Fidelity, and vanguard are the main ones I have heard of. You can do it at a credit union, but I have heard those are the lowest interest rates. Not sure if it's the the CD itself. To be honest I am not really sure what I do after I open the IRA. I know I would like a percentage in stocks. Even looking at mcdonalds stock over the past 10 years looks good

buy some mutual funds, some equities, some etf's (not the leveraged ones), diversify. Why buy a cd, interest rates are almost non existent. The market is bullish right now, there will be some pull backs which could be a good time to buy.

I believe scottrade also does IRA's as well. Not sure. I have an account at my firm, I'm not allowed to have my money anywhere else

[dr.gonzo!]

Originally Posted by PiggySmallz buy some mutual funds, some equities, some etf's (not the leveraged ones), diversify. Why buy a cd, interest rates are almost non existent. The market is bullish right now, there will be some pull backs which could be a good time to buy. I believe scottrade also does IRA's as well. Not sure. I have an account at my firm, I'm not allowed to have my money anywhere else

I was hoping on some greek friends having some problems

[PiggySmallz]

Originally Posted by dr.gonzo! I was hoping on some greek friends having some problems

market seems to be responding less to the european and greek problems. If there is another round of quantitative easing, expect equities to rise, gold to rise and the dollar to fall again. I expect gold to touch $2000 an ounce this year and pull back before climbing again.

[Cabikejumper]

I'm very confused. I'll start reading up in it. Is there a IRA for dummies website I can read?

[dr.gonzo!]

I only catch glimpses of suze orman.

All I know is that I would like my money to make me money because I will never make enough of it to last my life. I am scared for my friends that have nothing and I myself have waited way too long to do this.

[PiggySmallz]

Originally Posted by dr.gonzo! I only catch glimpses of suze orman. All I know is that I would like my money to make me money because I will never make enough of it to last my life. I am scared for my friends that have nothing and I myself have waited way too long to do this.

I don't watch her or Jim Cramer. I used to hate Jim Cramer, thought his show was all bs. I thoroughly enjoy reading his website the street. THere's a lot of great articles posted by him and other columnists. There is one in particular I enjoy the most. Doug Kass, head of Seabreeze. He writes some great commentary. I also read the Wall Street Journal, a lot of our internal research, and keep msnbc or bloomberg on my computer all day.

Now's the time to start. Don't worry about your friends, worry about you. If you have $1 million in the account and can live on 4% of that when you retire you'll be fine. That'll be a conservative amount you can earn each year. Don't get me wrong, when interest rates go up in the next 5 or so years, I'll probably be buying some of those 8-10%+ bonds haha

[Taxman]

A Roth IRA is post-tax, which is why you don't pay taxes when you retire. A 401K has taxes when you take it out because it is invested pre-tax (meaning you don't pay taxes on it now) and you pay taxes when you take it out. A Roth IRA is a way to hedge your bets against higher tax rates, which is a pretty solid guess since taxes are at historic lows. A 401K or traditional IRA investment is a way to defer tax liability now, while you are probably in a higher tax bracket, and pay taxes when you are taking the money for retirement, at which time you will probably be in a lower tax bracket since you won't be working.

[PiggySmallz]

Originally Posted by Taxman A Roth IRA is post-tax, which is why you don't pay taxes when you retire. A 401K has taxes when you take it out because it is invested pre-tax (meaning you don't pay taxes on it now) and you pay taxes when you take it out. A Roth IRA is a way to hedge your bets against higher tax rates, which is a pretty solid guess since taxes are at historic lows. A 401K or traditional IRA investment is a way to defer tax liability now, while you are probably in a higher tax bracket, and pay taxes when you are taking the money for retirement, at which time you will probably be in a lower tax bracket since you won't be working.

That isn't necessarily true, it really depends on how much you make while you are working and how much you save. Capital gains can get pretty expensive for someone who saves a lot of money lol. A 22 year old kid making 30-50k is going to be in a lower tax bracket now 15-20% (fed) than if they have IRA's and 401k's paying them out 60-70k a year lol. I would start the Roth now and if I retire, roll my 401k into a traditional rollover. The way I see it, it makes more sense to use the roth now when you are less likely to need the deduction in a 15% bracket.

[Taxman]

It all depends on how much you make... I wasn't implying that it doesn't. It's a little more complicated than can be explained in a single paragraph. It's not just about how much you make, but how much is taxable... how many exemptions you have, what your filing status is, etc... there are several factors. However, a lot of retirement income is not taxed. If a person is married and has invested in a Roth, has SS income, and some municipal bonds... none of that is taxable, so then their only taxable income is what's coming out of the 401K distributions, so they WOULD be in a lower bracket as a retiree than as a single person making 30-50K.

I personally am a big fan of Roth's. Taxes are at historic lows and, as you said, when you are in the lower tax brackets is the best time to invest in them. I also am a fan of 401K's if they are employer matched because you get immediate ROI just from the matching, and you can't beat tax deferred growth.

But fuck this, can we talk about superchargers or suspension or something. LOL This is what I do all day.

[dr.gonzo!]

NO!


Bonds, dividends, investments, Prestige World Wide. the first word in entertainment. Management. Financial portfolios, insurance, Computers, Black leather gloves Research and development. Putting in the man hours to study the science of what you need. Last week, we put liquid paper on a bee.



and it.. died

[PiggySmallz]

Originally Posted by Taxman It all depends on how much you make... I wasn't implying that it doesn't. It's a little more complicated than can be explained in a single paragraph. It's not just about how much you make, but how much is taxable... how many exemptions you have, what your filing status is, etc... there are several factors. However, a lot of retirement income is not taxed. If a person is married and has invested in a Roth, has SS income, and some municipal bonds... none of that is taxable, so then their only taxable income is what's coming out of the 401K distributions, so they WOULD be in a lower bracket as a retiree than as a single person making 30-50K. I personally am a big fan of Roth's. Taxes are at historic lows and, as you said, when you are in the lower tax brackets is the best time to invest in them. I also am a fan of 401K's if they are employer matched because you get immediate ROI just from the matching, and you can't beat tax deferred growth. But fuck this, can we talk about superchargers or suspension or something. LOL This is what I do all day.

Yes, but a roth can no longer be funded after a certain income each year. Well it can if you do a roth conversion and have no other taxable money in an IRA, but who knows how long that loophole will last. The thing I like about roth's is that you choose your withdrawals. The government doesn't tell you how much you HAVE to take and when.

I agree, I deal with that shit all day long. I'm over it by the time I'm ready to leave haha

[Cabikejumper]

Not tax refund related. But I just bought flowtech long tubes, flowtech O/R X pipe, slp LM1 mufflers, gear install kit and axle bearings for my 4.10's

Jegs said the x pipe won't ship til the 13th . But they gladly took my money ASAP

[Dolbs4082]

Heres where alot of my tax money is going this year...



That and the kitchen... cause aint no one happy if the wife aint happy... hahah

[zinc02GT]

Part # Product Price Qty Total
8750 1030 2005 - 2012 Mustang GT Koni shocks, front, street, pair
$266.00 1 $266.00
Total: $266.00
Shipping: $16.03
Total Charges: $282.03



S6008LM Strange Engineering Adjustable Rear Shocks 05-12 GT/GT500 (PAIR)
$179.95 x 1
$179.95
Subtotal: $179.95
Discount: $0.00
Shipping: $24.72
Sales Tax: $0.00
Total: $204.67

1 x DSS 2011 Mustang GT 3.5" 1000hp Aluminum Driveshaft (Manual)
(FDSH22-A-CV1) = $699.00
------------------------------------------------------
Sub-Total: $699.00
FedEx Ground (FedEx Home Delivery® ): $25.88
Total: $724.88





Below will be ordered tomorrow.

Product Price Qty Total
UCM002 2005 - 2012 Mustang GT Upper Control Arm Mount
Color:Red
$149.95 $149.95
UTCA019 2005 - 2012 Mustang GT Upper control arms, DOM, on-car adjustable, polyurethane bushings
Color:Red
Grease:14oz Tube(+$14.95)
Angle Finder:BMR Angle Finder(+$9.95)
$179.95 $204.85
Parts Total: $354.80


Black Retro Mustang Billet Grille Combo Kit (10-12 GT)
[remove]
$189.99 $189.99
BOSS/CS Style Lower Front Fascia w/ Foglights (10-12 GT)
[remove]
$364.99 $364.99

Subtotal: $554.98
Shipping: $0.00
Tax: $0.00
6% savings: -$33.30
Total: $521.68