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Campaign 2016 Part XIX: Escape from the Planet of Debates

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Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Rover said:
That's pretty generous unless you're in higher ed in which case its a bit more common.
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no, but I did work in higher ed for one year. also got 10% employer contribution, but way more vacation time
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Kepler said:
Huh. I'd rather repair high voltage cabling in a rain storm. No thanks, but looks good on you. ;)
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mookie don't do that in his 401k. allocation across funds is fine with him.
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

I accumulate funds in my 401k, but as soon as allowed by law I move the money over to my private portfolio manager. I get way better investment options and have beaten the 401k returns.
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Kepler said:
Kids, the first job you get put up whatever your company matches -- that is free pre-tax money and it's precious. If you start in your mid 20s you will be golden.
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Since day 1, I've always put away 5-10% of my gross into my employer sponsored plan and maxed out any matching (going on 12 years now since I finished college and started my first real job). It was pretty painless to put away extra before having a kid, now I feel guilty if I don't put that into a college savings plan.
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

The Sicatoka said:
I accumulate funds in my 401k, but as soon as allowed by law I move the money over to my private portfolio manager. I get way better investment options and have beaten the 401k returns.
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Does that sacrifice the pre-tax advantage? Or is this like a Rollover IRA?
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Kepler said:
Kids are going to kick that right in the nuts.
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Yeah, well, as it stands right now I'm going to be a SINK on an engineer's salary. Well, I'm kind of a DINK right now since I have a roommate. But eventually when I move to a nicer house I'll probably just rent this one out entirely. I have a 2.75% fixed mortgage so the mortgage is extremely valuable on its own. Plus I got in at the bottom of the housing market so I'm up like $60k since I bought.

I've been extremely lucky.
 
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Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

rufus said:
Rudi should be too stupid to govern for putting NYC's Emergency Disaster headquarters in the WTC complex.
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Rudi is a vicious toad, but the Feds weren't any smarter. The NYC branch of the counter-terrorism force was in the WTC and that was after the first WTC bombing.
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Kepler said:
Does that sacrifice the pre-tax advantage? Or is this like a Rollover IRA?
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If you withdraw funds from a 401(k) to put it in an IRA, it is by definition a rollover IRA. So no, you don't have to pay the taxes on it until you withdraw it for your personal use.

There are other good reasons for taking money out of a company sponsored 401(k) especially if you leave through retirement or going to another job. There may be restrictions on withdrawals that don't exist if your money is in a self-directed IRA. And if you leave a company, you probably won't be informed very well about changes that are made to your company's 401(k) program, for example if it changes managers.
 
Re: Campaign 2016 Part XIX: Escape from the Planet of Debates

Kepler said:
That said, Index Funds will beat every investor not named Warren Buffet. eTrade = a fool and his money.
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Not completely true. It's daytrading that is a waste of time, especially since computers do almost all of the work for the banksters now and can execute hundreds of transactions much faster than you can put in just one order. However, there is nothing wrong with building a long-term portfolio of well-diversified stocks. You only need 1 or 2 picks out of 10 to be hits over a 20-30 year run, in order to be reasonably successful in that realm. Note, I said "reasonably". Anyone going in thinking they're going to be the next Buffet is under delusions of grandeur.
 
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