IRA accounts

Discussion in 'General Discussion' started by Utumno, Jan 11, 2018.

  1. Utumno

    Utumno Administrator Staff Member

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    Well, Schwab makes a big show about having lower fees though I don't know anything about this stuff so I don't know if it's bullshit:
    https://www.schwab.com/public/schwab/investing/accounts_products/schwab_index_funds_etfs

    Also, I've seen a lot of posts from people who have both who seem to agree Vanguard has inferior customer service and website. It's unlikely of course, but people who found errors that needed correcting found it very hard to do w/Vanguard.
     
  2. AgelessDrifter

    AgelessDrifter TZT Neckbeard Lord

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    Vanguard As a Brokerage Is Not Acceptable (VABINA) doesn't have quite the same ring to it
     
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  3. Chemosh

    Chemosh TZT Addict

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    Vanguards mobile app blows. Every time you log into it and actually don't force yourself to log out, the next time you log back in, it'll say, you're already logged in, you need to log out, do you wish to continue. If you say yes, it logs you out, if you say no, the message pops-up again. So basically, you have to log into the app 2x, and this really pisses me off.

    Also, their fund reporting really sucks within the app. You can't see a lot of information which I would really like to see easily such as percentage gains on each fund over specific time frames.
     
  4. Holystrife

    Holystrife What the fuck did you just try to put in my ass?

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    I'm very curious of where I stand on retirement savings in comparison with my peers (you's guy's)
     
  5. Chemosh

    Chemosh TZT Addict

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    I'm at about 170k in 401k and IRAs.

    I've started to invest about 12% a year in 401k and continue to bump a few percent a year.
     
  6. Sifter

    Sifter TZT Addict

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    I have Vanguard for investments, but I don't ever really change stuff with it, so I don't have strong opinions on it.

    I have a checking account with Schwab, and their customer service has been great for checking stuff. One time I overdrafted, and they called me up to let me know that I did it, instead of just declining the transaction (or charging some shitty overdraft fee).
     
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  7. Utumno

    Utumno Administrator Staff Member

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    Ppl are often pretty private about their savings either out of concern about humble bragging or just paranoia or general privacy concerns.

    If you're really curious pm me and I'll let you know. Vaguely speaking I've got more than chemosh but I'm also a good bit older and have been working a really long time in corporate land compared even to my peers.

    I think chemosh total is pretty damn good for his age, probably helped along from dat fatty Amazon stock.

    My total probably should be higher but I've not been super diligent about always maxxing/managing 401k
     
  8. Utumno

    Utumno Administrator Staff Member

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    That's pretty cool. I remember banking with bofa a long time ago. I overdrafted a check and found out they had taken out a second mortgage automatically and sold my soul to cover it.
     
  9. Chemosh

    Chemosh TZT Addict

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    The amazon stock helped some, but I started at 25 which helped. Plus when my father died, I was able to dump 11000 into IRA.

    I have a considerable more in mutual fund(s) that I'm growing to use for paying for vacations, buying cars and leftover retirement
     
  10. Jackpanel

    Jackpanel TZT Abuser

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    But how much Chainlink are you holding?
     
  11. Utumno

    Utumno Administrator Staff Member

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    Asking the real questions.
     
  12. Utumno

    Utumno Administrator Staff Member

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    Also it's great ur saving a lot of money chemosh esp. considering you have a 79% likelihood of killing yourself on some mountain climb or ski accident.

    plz put me in ur will
     
  13. TuccTZ

    TuccTZ TZT Abuser

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    I always saw Chemosh as murdered by his wife's lover. Suicide works too though.
     
  14. TuccTZ

    TuccTZ TZT Abuser

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    I'd also like to be in the will
     
  15. Chemosh

    Chemosh TZT Addict

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    I'm never dying so no need for will.
     
  16. AgelessDrifter

    AgelessDrifter TZT Neckbeard Lord

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    Cryogenics?
     
  17. Sear

    Sear TZT Neckbeard Lord

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    Don't have an IRA. I opted to pay off a house and buy a rent property.

    I will probably open one this year, since there's no reason not to have one (+ enjoy the tax-free gains down the line).

    This was not something that I ever thought about in my 20's when I was paycheck-to-paycheck and paying off loans. I didn't even know what an IRA was until a few years ago.
     
  18. Agrul

    Agrul TZT Neckbeard Lord

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    i only have like 5k in my roth ira

    maybe like 20k in my work roth tsp (separate contribution limit)

    dont have a regular (non-roth) ira or savings account of any sort
     
  19. Utumno

    Utumno Administrator Staff Member

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    rental property is pretty damn solid too if u manage it correctly.

    sear basically going to be sam deathwalker of the future minus the diapers
     
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  20. Czer

    Czer I'm a poor person. The lambo is my cousin's.

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    Depreciation is spread over 27 years on rental income properties in LA county, I don't know how much it differs on specific local/regional governments elsewhere, so you get to deduct the entirety of the depreciation as a loss every year against your income. When you finally sell the property, you only pay back 25 percent of the reclaimed depreciation total.

    You also own permanent equity. Whether it moves up or down, you can always wait.

    Anyone else want to figure out why criminals like this for tax evasion.

    The secret about tenants is to hire a property management company for 10 percent, go to an outskirt military base with a lot of transfers.

    If you have problems with military tenants you report them to their commanding officer.

    If you haven't setup an LLC, you should under sole proprietorship unless you have partners. Separate the funds of your business to avoid co mingling, it's extremely illegal.

    LLCs Limit Personal Liability

    First and foremost, LLCs limit personal vulnerability to potential lawsuits related to the property. Consider the situation in which the owner of an investment property leases it to a tenant who decides to throw a big party, during which one of the tenant's guests falls over a balcony. In today's legal climate, it is quite possible that the injured guest would pursue a claim based on the “unsafe condition” of the rental dwelling. More often than not, the owner would be named in any lawsuit resulting from the incident.

    If that rental property were owned by a real estate investor individually, he or she would be named in the lawsuit and would have to defend his or her personal assets from the plaintiff's claims. In contrast, if that property were owned by an LLC, the owner's risk exposure would be insulated by the protection of the company, leaving only the assets owned by the LLC (as opposed to all of the owner's personal assets) exposed to potential lawsuits.
     
    Last edited: Jan 13, 2018
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