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Having everything in cash is ridiculous, especially if you are concerned about inflation. You're lucky to get 1% in cash and the inflation rate is 2% (or so they tell us...I think the real rate is higher).
The word is out: You guys' colluded/broke the cardinal rule of mass serfdom by dumping/yoking too much DEBT onto the youngest generation(s). Your calculated dependence on manufactured inflation/over-consumption/idle 401ks is gravely in danger; coupled with the reality that the 21st century 'aristocrats' have true control of the digital money. IMHO, "let them it cake" will be obeyed/executed this time around.
DSOs,
My 401K plan has a double match for up to 5%. That is, if I put in 5% of my pay, my employer puts in 10%, for a combined total of 15%. Your money going in essentially triples.
There are probably 50 different funds to choose from including money market and ones that invest in things like CDs.
You seem to be anti-401K. I enjoy my 401K and always put in at least enough to get my full employer match.
Half a dozen employees do not participate in this plan according to HR. Is this not foolish? You need money for retirement. Your money going in essentially triples and you can find a variety of funds including very conservative ones. Barring some bizarre circumstance, why wouldn't you put money in?
Anyone here of Ed Slotts and what he is preaching? I'm currently reading one of his books on "rescuing your retirement." I searched this forum for that reason. I'm trying to do the right thing with my money, but both sides seem to put up valid arguments. Just don't know who to trust anymore. You can even pay good hard earned money for bad advice.
I don't see anything really negative except if you accumulate too much you have to pay lots of taxes when you take it out with income from SS. ie, they get you somehow. It's a nice problem to have, IMO.
Anyone hear of Ed Slotts and what he is preaching? I'm currently reading one of his books on "rescuing your retirement." I searched this forum for that reason. I'm trying to do the right thing with my money, but both sides seem to put up valid arguments. Just don't know who to trust anymore. You can even pay good hard earned money for bad advice.
I don't know who he is. The basics are really not that difficult. Save what you can in your retirement plan at work or IRA if you don't have one. Invest it mostly in stock funds with low expense ratios (but probably not 100%...as most people can't handle the volatility). Saving 15% for your retirement throughout your working life will get you a decent retirement in your 60s. However, a lot of people get booted out of good paying employment in their 50s, so it's better to save more. An employer match obviously helps.
Anyone here of Ed Slotts and what he is preaching? I'm currently reading one of his books on "rescuing your retirement." I searched this forum for that reason. I'm trying to do the right thing with my money, but both sides seem to put up valid arguments. Just don't know who to trust anymore. You can even pay good hard earned money for bad advice.
ed slott is the master of retirement tax manipulations . his books are excellent . ed is known as the retirement guru .
he is a bit to market shy though in my opinion . my only regret is i read his books to late . now the blocks are already in place and a tax nightmare to change.
dr wade pfau has expanded on ed's idea's turning them in to a full integrated strategy manipulating immediate annuity's , your own investing and life insurance for a comprehensive package of tax efficiency , guarantees and as he says "turning forever taxable money from your ira's in to never taxed money ..
ed is actually local to us in long island , i tried to see ed , but no one see's the all and powerful ed .
ed has a network of accountants all trained under him country wide . most are tax advisers and not financial planners . retirement tax planning is their specialty .
Last edited by mathjak107; 02-26-2017 at 04:24 AM..
Anyone here of Ed Slotts and what he is preaching? I'm currently reading one of his books on "rescuing your retirement." I searched this forum for that reason. I'm trying to do the right thing with my money, but both sides seem to put up valid arguments. Just don't know who to trust anymore. You can even pay good hard earned money for bad advice.
roths are the investment gods gift to retirement . that is it in a nut shell .so much is linked to retirement income other than tax rates .
The word is out: You guys' colluded/broke the cardinal rule of mass serfdom by dumping/yoking too much DEBT onto the youngest generation(s). Your calculated dependence on manufactured inflation/over-consumption/idle 401ks is gravely in danger; coupled with the reality that the 21st century 'aristocrats' have true control of the digital money. IMHO, "let them it cake" will be obeyed/executed this time around.
as peter lynch said , more money has been lost or given up preparing for the next crash or downturn , in anticipation of one than has actually been lost in them .
in fact since the supposed election crash if trump wins we grew more than 100k in value and that is in a portfolio only 40% stock and it practices risk parity giving up some gains . .
Last edited by mathjak107; 02-26-2017 at 04:17 AM..
Thanks Mathjak107, it gives me solace knowing I may be on the right track. At work, I was offered to move funds into a ROTH, but the upfront taxation on what had already been accumulated was staggering to me. I'll go ahead and finish Ed Slott's retirement program, then make a decision. I've still got another 20 years before retirement, so it is important what I do from this point on.
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