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It is currently Thu Sep 29, 2016 8:16 pm

Viewing profile - mike313t

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User statistics

Joined: Mon Oct 20, 2008 9:05 pm
Last visited: Sun Mar 08, 2009 9:31 pm
Total posts: 14
[0.02% of all posts / 0.00 posts per day]
Search user’s posts
Most active forum: Personal Finance
[ 12 Posts / 85.71% of user’s posts ]
Most active topic: Sell a down stock and put the money in a Roth?
[ 2 Posts / 14.29% of user’s posts ]



E-mail address:
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Location: Wisconsin
Occupation: Engineer
Interests: Finance, computer software
Website: http://www.iraeducationalmaterial.com



mike313t Posts

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 Forum: Personal Finance   Topic: Buying a Home and other concerns

Posted: Mon Mar 09, 2009 7:53 pm 

Replies: 15
Views: 4582

A home would be a good investment, it would also get you some tax deductions since your intrest and taxes are tax deductable. When buying a house, a resale is something to definetly consider. You don't want to buy something that you will have a hard time selling... I would look for something at leas...

 Forum: Personal Finance   Topic: I'm not investing in my 401k that has a 2% match. Thoughts?

Posted: Sun Mar 08, 2009 9:31 pm 

Replies: 19
Views: 7348

I have a very low 401K match as well... I generally max out my Roth IRA contributions first, then remaining funds go to 401K. Roth is my priority since I get tax-free distributions at retirement.

 Forum: Personal Finance   Topic: possible to waive annual fees on credit cards? (alaska air)

Posted: Mon Feb 23, 2009 9:34 pm 

Replies: 3
Views: 1622

Not sure about this specific card, but usualy they would be willing to waive an annual fee if you make certain number of purchases or charge a certain amount during the year. In other words, if they make enough money from your purchases, they would be willing to waive the fee. I used to work in cust...

 Forum: Success Stories   Topic: What to do, what to do...

Posted: Tue Nov 11, 2008 8:08 pm 

Replies: 6
Views: 7378

And any one else out there I offer the same deal. If you think paying $1 to get back $0.30 is better than NOT paying the $1 in the first place, let me know! I don't think you understand the strategy here. If your mortgage is 5.25%, then after the tax deduction you only paying about 3% in intrest af...

 Forum: Personal Finance   Topic: Sell a down stock and put the money in a Roth?

Posted: Tue Nov 11, 2008 7:52 pm 

Replies: 19
Views: 6058

If you sell now, you would pay long term capital gains tax on the gains from the stock. If you take that money and invest in a Roth, you can't take a tax deduction on that money, but investing in a Roth is definetly worth it long term.

 Forum: Personal Finance   Topic: lost $2,000.. what should i do to make up for it?

Posted: Fri Nov 07, 2008 8:15 pm 

Replies: 12
Views: 4034

If bring your 401k contributions to 6%, that way you don't loose out on your company match. I would definetly max out your Roth IRA. The Roth benefits exceed 401k benefits!!!

 Forum: Personal Finance   Topic: Sell a down stock and put the money in a Roth?

Posted: Fri Nov 07, 2008 7:58 pm 

Replies: 19
Views: 6058

I agree with googoo, do the research on the company and look at the fundamentals. Also, don't forget about the transaction fees when you sell. Also, there are contribution limits when investing in a Roth. For 2008, it's $5,000, unless you are over 50 years old, then it's $6,000. You have til Aprill ...

 Forum: Personal Finance   Topic: Invest in Company 401(k) vs. Other Safe Investments

Posted: Fri Nov 07, 2008 7:44 pm 

Replies: 12
Views: 3364

Contribute enough to take advantage of the company match if the match is worth it, by that I mean you get at least $0.50 cents on a $1 match. If the match is less than that, I would start a Roth IRA. There is a limit on how much you can contribute each year, so you want to start it as early as you c...

 Forum: Personal Finance   Topic: Retirement planning

Posted: Thu Oct 23, 2008 9:49 pm 

Replies: 18
Views: 4785

I would definetly start a Roth IRA and try to max it out each year. A good thing about Roth is that you are not taxed on your earnings which will give you tax free income when you retire. How many years are you planning on working yet? I would diversify your investments inside of your Roth, probably...

 Forum: Personal Finance   Topic: Want to dump a Roth IRA and put the money somewhere else

Posted: Thu Oct 23, 2008 4:08 pm 

Replies: 6
Views: 9281

I agree with Daedala that you should sit down and evaluate your situation. Eventhough i don't recommend doing this, but you do have an option of taking out your yearly contributions tax free and penalty free. If you decide to do that, remember that once the contribution is withdrawn, it can not be r...

 Forum: Success Stories   Topic: What to do, what to do...

Posted: Tue Oct 21, 2008 9:06 pm 

Replies: 6
Views: 7378

Congrats on your success! I would definetly fill up the Roth IRA because of the huge tax advantage, you have till April to contribute for the 2008. If you pay off your mortgage, you will not have any tax deductions when you retire, which makes the Roth IRA ideal due to tax-free distributions. I woul...

 Forum: Personal Finance   Topic: Take pay out and pay off, or invest?

Posted: Tue Oct 21, 2008 8:39 pm 

Replies: 6
Views: 2588

I wouldn't mess with the retirement funds, after penalty and tax the hit is not worth it. Also, any gains in your retirement account are tax deferred which means bigger gains. If you don't have a lot of tax deductions at this time, I would roll it over to a Traditional IRA, that way you don't take a...

 Forum: Personal Finance   Topic: Turning 31 and I'm entirely clueless! Your input wanted.

Posted: Mon Oct 20, 2008 9:28 pm 

Replies: 10
Views: 3572

A Roth IRA is definetly a great step. A big thing to remember (eventhough not recommended) with a Roth is that you can always withdraw you contributions tax and penalty free, so if you run into some tough times that option is always there. Contribute a full allowable amount into Roth every year. Als...
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