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educate me 401-k

  1. #1251
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k


    Quote Originally Posted by tsorfas View Post
    reading some more books and articles on the topic that seems to be the advice. Park in low cost index funds. dont move the money, dont try to time the market.


    do many here do BOTH 401K and Roth IRA or just stick to one?
    I do the Roth IRA up to the income limits. Then I max out my 401(k) to the maximum point of my employer's matching contributions. The rest I dump into Vanguard.

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  2. #1252
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    Y’all legends. I need to step up

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  3. #1253
    Lifer ZX-12R's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    do many here do BOTH 401K and Roth IRA or just stick to one?
    I max out my 401K as well as an IRA for both myself and my wife. The IRAs are non-deductible in my case and will be back-doored into a Roth at a later date.

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  4. #1254
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by ZX-12R View Post
    I max out my 401K as well as an IRA for both myself and my wife. The IRAs are non-deductible in my case and will be back-doored into a Roth at a later date.
    What is your rationale behind waiting? Gains in the non-deductable IRA are taxed on conversion.

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  5. #1255
    Lifer ZX-12R's Avatar
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    Re: educate me 401-k

    We were contributing to Roths at first but we ran the risk of hitting income limits so we recharacterized them as traditional IRAs. The backdoor to a Roth was done in January for no reason other than reducing the clerical work on our 2018 taxes.

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  6. #1256
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Interesting stuff : State taxes for FIRE (updated for 2018) : financialindependence

    Yo Ig: You still eying that vacation / retirement spot in rural TN? This seems to back that idea up.

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  7. #1257
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by nhbubba View Post
    Interesting stuff : State taxes for FIRE (updated for 2018) : financialindependence

    Yo Ig: You still eying that vacation / retirement spot in rural TN? This seems to back that idea up.
    I am.

    Not even restricting it to rural. Plenty of nice towns with downtown areas within walking distance of affordably priced nice homes.

    Rural is just cheaper.

    TN/NC/SC/etc are all on the table.

    More recent sooner-than-later thought is picking up a decent large-ish toy hauler glamper, a full size (as much as I hate to think about the fuel prices, they are still a consideration), and a piece of buildable land down there. Get power/water/sewer hookups put in, and use it as a summer vacation spot a few weeks a year. Eventually build the retirement home. I'm sure my mind will change 8x by the time I'll need to sign on the dotted line, but this could hit all the short and long term check boxes.

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    Last edited by TheIglu; 04-23-19 at 11:36 AM.
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  8. #1258
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Bringing this back on topic, y'all think we're in full pendulum?

    Stocks are just SO over-valued at this point. Such a long bull run.

    We're at full employment, but wages aren't really rising any notable amount. Educational expenses, healthcare expenses, transportation expenses and especially housing prices are rising WAY faster than is sustainable.

    I hate to be that guy, but this won't end well. Close friend in the mortgage biz says he is seeing a ton of people pulling lots of equity out of their current homes since the values have skyrocketed. We've been down this road before.

    This time, the wealthy and top earners are the ones benefiting in a huge way. It's not trickling down.

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    Last edited by TheIglu; 04-23-19 at 12:34 PM.
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  9. #1259
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    Re: educate me 401-k

    Housing market is a bit crazy for sure. You have to be ready with offer at first listing to get a decent house around here. I could have sold my place 4 times on the first day of showing.

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  10. #1260
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    People are financially stretching to afford housing due to the inflated pricing. It's bonkers.

    So many people are house-poor. Nice house, living paycheck to paycheck.

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  11. #1261
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    I honestly have no idea. I've upped my cash hold a little because I agree; how the hell can this party keep rolling? Yet I keep feeling dumb for having done so. "Expert" opinion I'm reading agrees with ya'll, that something is due. That "expert" opinion is part of how I justify breaking from my plan by a few %. But only by a few %!

    As for real-estate. I personally see mixed messages. Asking prices seem up, but I'm not seeing inventory fly. I'm sure this is highly local.
    The only equity I want to pull is for improvements.

    Bottom line is I think timing the market is just something above my pay-grade. I'll keep doin' (mostly) what I'm doin'.

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  12. #1262
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    People are financially stretching to afford housing due to the inflated pricing. It's bonkers.

    So many people are house-poor. Nice house, living paycheck to paycheck.
    I've always said, "you can sleep in your car, you can't drive a house!"

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  13. #1263
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Bringing this back on topic, y'all think we're in full pendulum?

    Stocks are just SO over-valued at this point. Such a long bull run.

    We're at full employment, but wages aren't really rising any notable amount. Educational expenses, healthcare expenses, transportation expenses and especially housing prices are rising WAY faster than is sustainable.

    I hate to be that guy, but this won't end well. Close friend in the mortgage biz says he is seeing a ton of people pulling lots of equity out of their current homes since the values have skyrocketed. We've been down this road before.

    This time, the wealthy and top earners are the ones benefiting in a huge way. It's not trickling down.
    It sure is scary when you look at it from the perspective. What is crazy is that this time around employment is full and companies are still hiring like crazy.

    To add to your list don’t forget the people with buying more car than they can afford and of course the student loan “bubble”.

    And even with all that being said I don’t know what would cause the crash/correction. Because honestly the real estate market won’t collapse like last time. There are people who can buy houses but are holding off for the market correction. In the previous chapter people who couldn’t afford 1 house were buying 2.
    Jobs won’t just magically disappear. So I just don’t see a crash. Maybe a stabilization? Even that doesn’t seem to be “near” future.

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  14. #1264
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Let's say the end is near. Whatchugunnadoboutit?!

    Hold more cash I guess, right? Be ready to buy moar.

    Debt is good right now, I suppose. Buy while the buying is good. We haven't seen any real inflation in a while.

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  15. #1265
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    Re: educate me 401-k

    I've always said, "you can sleep in your car, you can't drive a house!"
    But in 10 years your house can double in value while your car depreciates to nothing.

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  16. #1266
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by nhbubba View Post
    Let's say the end is near. Whatchugunnadoboutit?!

    Hold more cash I guess, right? Be ready to buy moar.

    Debt is good right now, I suppose. Buy while the buying is good. We haven't seen any real inflation in a while.
    I’m just riding it out. I don’t mess around with my holdings, that’s the fund managers’ jobs.
    In the meantime, I added a 100g to my debt load with a new house, or “bypassing an addition” as I refer to it, and am about to finance a brand new bike. Because fuck it.
    I also have the fever for a Travato, but that’s just outside my comfort level.

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  17. #1267
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    And even with all that being said I don’t know what would cause the crash/correction.
    2020 election

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  18. #1268
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by db79 View Post
    2020 election
    I don’t believe that. They say that for every election.

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  19. #1269
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    I suppose we really should ask randy how the survey business is. That’s the only real predictor.

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  20. #1270
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    I don’t believe that. They say that for every election.
    The problem is you are comingling the terms correction and crash. A short-term correction is very plausible for a number of reasons and are not that uncommon. A crash, albeit more unlikely, may be possible with select individual(s) commanding the ship.

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  21. #1271
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by db79 View Post
    The problem is you are comingling the terms correction and crash. A short-term correction is very plausible for a number of reasons and are not that uncommon. A crash, albeit more unlikely, may be possible with select individual(s) commanding the ship.
    Good point

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  22. #1272
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    Jobs won’t just magically disappear. So I just don’t see a crash. Maybe a stabilization? Even that doesn’t seem to be “near” future.
    You are correct. They don't just magically disappear.


    They disappear when someone with wealth wants to protect that wealth for what they see is impending financial hardship.


    So not magic, but just as fast and unpredictable as magic.

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  23. #1273
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    In other news, people clearly aren't getting any smarter financially. Ad for a local dealership that I get while browsing the web. This is not a typo, as it's multiple style ads, all with the same info.



    educate me 401-k-gooddeal-png

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  24. #1274
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k

    A six-year term for a car lease makes me queasy.

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  25. #1275
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    13% lol. Sounds like a smocking (crack) deal.

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