| From: SI Ron (Colonel Sammy) | 3/6/2024 12:25:48 PM | | | | | | March 17 2020 the COVID lock down took place, the markets crashed. I remember driving the streets were almost bare, no cars.
A lot has changed in 4 years. |
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| From: SI Ron (Colonel Sammy) | 3/8/2024 2:01:18 PM | | | | | | 
Time change this Sunday. One hour forward. Most states and provinces.
You can forfeit the game by breaking your clock:
Or just get a Sundial.
 |
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| From: Jeffrey S. Mitchell | 3/20/2024 1:05:48 AM | | | | | | Year #26 of the SI March Madness Pool is up and running. First prize is ten million dollars*. The contest is free to enter and quite fun. For more details, go here: Subject 60387
- Jeff
* [For proper effect, please make your browser font really tiny when you read this fine print] Only perfect brackets are eligible for the first prize (odds are roughly one in 9.25 quintillion, but you never know until you try, right?!). |
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| From: Po'boy | 4/11/2024 1:28:30 PM | | | | | | Hello there! I just stumbled in. I am in my late 50s and finally debt free. I have nearly 60K in a 401K (aggressively saving now at 20% to catch up) and a personal brokerage fund of 13K (9.5K in $VTI; 1.8K in $QQQ and the rest in poor choices.). The good news is that I have no kids to feed or tuition to pay for and my expenses are fairly low for someone living in NYC. I'm starting from square one, late in the game and with little to my name. It feels dirty to even write this.
That said, I am hoping to turn all this around with some hard work, some studying, and a regular savings plan. Looking to make my money work for me as quickly as reasonably possible in the hope that I can live out my life without being a burden to family, friends, and society.
I am overeducated (but haven't played it smart), still qualified for work, gainfully employed, and able to live simply to stay within my means. I'm sure some of you reading this are thinking, "This is guy is f&$#ed. How does he survive?" Well, I take solace in knowing that, far from being in last place, I am doing better than most Americans. If I can keep that trend moving upward, I might be able to redeem myself in 20 years, so that I can at least die with dignity.
Okay then ... #roastme!
And thank you for your time. |
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| To: MathematicalInvestor who wrote (32654) | 4/12/2024 8:59:40 AM | | From: J.B.C. | | | | | Greetings. Not necesselsarilly a dividend growth investor here. But in 2021 when I retired I did buy a basket of Dividend stocks (5 stocks is all). Thru my technical work, 4 have been sold but I still own IRM from that time and with dividend reinvestment has paid off (~100% gain). I had OKE originally, but I had to sell when it technically broke down. Repurchased in Nov ‘23. Most of my funds are currently in equities at this time. |
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| To: Po'boy who wrote (32653) | 4/17/2024 6:38:17 AM | | From: robert b furman | | | | Hi Po'boy,
You did say debt free.
Congrats you are well on your way to accumulating wealth.
Now know yourself.
Do you want speculation or slower methodical wealth accumulation?
Most want to be able to sleep at night. Knowing where that threshold is can be a learning experience all by itself.
Welcome to SI.
Bob |
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| To: Po'boy who wrote (32653) | 4/17/2024 10:41:57 AM | | From: Kirk © | | | | Welcome to the group.
One thought is look into ROTH IRAs. I stopped contributing to my regular IRA once I started working for myself and didn't get an employee match. IF you can afford it, contributing after tax money to a ROTH is better in my opinion.
Often you take money out of an IRA in retirement and the income can push you into a level where your Social Security payments are taxed. Get even more successful as many of us here have, and the required RMDs push you into higher Medicare brackets where the government punishes us for saving rather than spending our money when we made it.
Even if you don't reach the levels to lose benefits, Money taken out of regular IRAs are taxed as regular income but if you invest in index funds or individual stocks with taxable funds, then the income years later is taxed at capital gains rates. IF your total income in retirement is low enough, there is no Fed tax on long-term capital gains.
From irs.gov
A capital gains rate of 0% applies if your taxable income is less than or equal to:
- $44,625 for single and married filing separately;
- $89,250 for married filing jointly and qualifying surviving spouse; and
- $59,750 for head of household.
Don't forget that as seniors, we get a bonus to the standard deduction so the total income we can earn and pay zero capital gains tax is significantly higher.
irs.gov
Additional standard deduction – You're allowed an additional deduction if you're age 65 or older at the end of the tax year.
Even if you are successful with your regular IRA and RMDs plus SS push you above the 0% rate, your capital gains tax rate is still significantly lower than the fixed income rate
Again From irs.gov
A capital gains rate of 15% applies if your taxable income is:
- more than $44,625 but less than or equal to $492,300 for single;
- more than $44,625 but less than or equal to $276,900 for married filing separately;
- more than $89,250 but less than or equal to $553,850 for married filing jointly and qualifying surviving spouse; and
- more than $59,750 but less than or equal to $523,050 for head of household.
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