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Viewing profile - Covert7

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Covert7
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Joined: Thu Jun 07, 2007 8:53 am
Last visited: Mon Jul 23, 2007 3:16 pm
Total posts: 29
[0.03% of all posts / 0.01 posts per day]
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Most active forum: Personal Finance
[ 25 Posts / 86.21% of user’s posts ]
Most active topic: Mid term savings/investments
[ 7 Posts / 24.14% of user’s posts ]

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Covert7 Posts

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 Forum: Personal Finance   Topic: Buying a home for the first time - USA Today article

Posted: Thu Jul 19, 2007 2:05 pm 

Replies: 26
Views: 13927


So you're telling me that I could take my profits (up to that limit) and then not pay a single thing of taxes on them? And that theoretically I could then take that tax free profit and invest it in something like stocks, mutual funds, the blackjack table, etc....

That's a tax law I can live with!

 Forum: Personal Finance   Topic: Buying a home for the first time - USA Today article

Posted: Thu Jul 19, 2007 1:26 pm 

Replies: 26
Views: 13927


Good discussion and answers here! One thing I'd like to verify with you guys is how profits from a home sale are handled. For instance, if you sell your house and make a profit how are you taxed if you just keep the profit and don't buy another house for a time? Say I'm going to move to a new state ...

 Forum: News & Announcements   Topic: Pizza Hut waitress, and Off to London

Posted: Tue Jul 17, 2007 2:52 pm 

Replies: 39
Views: 27675


JD, we're sorry we made a mess while you were away. We promise it won't happen again! :)

 Forum: News & Announcements   Topic: Pizza Hut waitress, and Off to London

Posted: Mon Jul 16, 2007 3:14 pm 

Replies: 39
Views: 27675


Well, I think it's about time for everyone on both sides of this issue to get their knickers untwisted and let's move on to more productive ground. Amiright?!

C'mon, whose up for a good ol' discussion on hedge funds or something else equally spicy?! :wink:

 Forum: News & Announcements   Topic: Pizza Hut waitress, and Off to London

Posted: Mon Jul 16, 2007 1:36 pm 

Replies: 39
Views: 27675


Yeah, sorry about that! I just saw where they're coming in again. Patience next time! :D

 Forum: News & Announcements   Topic: Pizza Hut waitress, and Off to London

Posted: Mon Jul 16, 2007 1:13 pm 

Replies: 39
Views: 27675


Did the comment system in the article go boom? Is there a 100 limit cap? Just curious. And it was getting oh so interesting! :)

 Forum: Personal Finance   Topic: Spending Money

Posted: Fri Jun 29, 2007 8:12 am 

Replies: 12
Views: 6479


Ya, we also go with the "lazy" method. Pay all our bills and push money into our savings and what's leftover is our to do with as we wish.

 Forum: Personal Finance   Topic: Rolling 401k to Roth?

Posted: Thu Jun 21, 2007 8:59 am 

Replies: 16
Views: 31080


It would be a REALLY BAD IDEA use the money that's in the account to pay the taxes. You will never be able to replace that money and it could cost you about $10k (state and fed) which would be a LOT more in 30-40 years. I am also not sure whether, if you use it instead of rolling it, you will have ...

 Forum: Personal Finance   Topic: Rolling 401k to Roth?

Posted: Thu Jun 21, 2007 8:27 am 

Replies: 16
Views: 31080


Thanks for this info guys! I'd love to take a big chunk of that money and put it in the Roth. But if I can do that I would still have to deal with paying taxes on it. Now in that CR article it mentioned that I could use money from the 401k funds (the money I would roll) to pay for the tax. So in tha...

 Forum: Personal Finance   Topic: Rolling 401k to Roth?

Posted: Wed Jun 20, 2007 2:54 pm 

Replies: 16
Views: 31080


Hey Mandy! Please go ahead and toss up the link for the Roth 401k. I'm not very happy with our company's 401k options, but it's not like we've got a ton of choice. So any advice in helping change their mind would be greatly appreciated. Thanks also for the input on the rollover question. I'll check ...

 Forum: Personal Finance   Topic: Rolling 401k to Roth?

 Post subject: Rolling 401k to Roth?
Posted: Wed Jun 20, 2007 2:24 pm 

Replies: 16
Views: 31080


Ok gurus, I've got another fun question for you. :D I was just reading a Consumer Reports article that says you could roll over a 401k into another regular IRA or even a Roth. If rolling into a regular IRA there's no penalties since it's also tax differed. If rolling to a Roth, you will have to pay ...

 Forum: Personal Finance   Topic: Which area of savings to sacrifice?

Posted: Fri Jun 15, 2007 7:46 am 

Replies: 7
Views: 3903


Thanks for the input guys! Yeah, we're almost certainly going to go ahead and setup the Roth and have that fully funded. I do contribute in my company 401k up to the matching amount (4%) but we still want this Roth rolling. As for the car, don't worry about us considering new. Like I mentioned earli...

 Forum: Personal Finance   Topic: Which area of savings to sacrifice?

Posted: Thu Jun 14, 2007 9:44 am 

Replies: 7
Views: 3903


Let's see what I can clarify: 1)Not sure I really understand this one. We have gone through our monthly income/expenses and planned out how our money will go towards each. To the best of our ability we believe these 3 things are our only immediate goals. 2)Well the $18k was considering a nice used c...

 Forum: Personal Finance   Topic: Which area of savings to sacrifice?

Posted: Thu Jun 14, 2007 9:18 am 

Replies: 7
Views: 3903


Hi folks, I've got another hypothetical for you and would love some feedback. Let's say you are trying to save for a few different goals, but you have a very limited amount of monthly money ($1000) available for this. First, you're trying to save up for a down payment on a house (price of house: $25...
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