Investing, Stock Market and Retirement Planning Thread

[mac5155]

The ones my wife has are patriot bonds from 2001. I still don't think they've matured yet lol.

[NTP66]

Patriot bonds sound like some sort of MAGA spinoff.

[mikey]

Like a denture cream for veterans...

[mac5155]

With a side of Freedom Fries

[DigitalGypsy66]

I may be moving my Marcus money over to Everbank - standard interest rate of 5.0%. Anyone else know anything about them, other than they sponsor the Jaguars stadium?

[King Colby]

If everbank is offering 5% I'd do that over a CD in a second.

[King Colby]

5.15% APY with no minimum balance nor minimum deposit requirement...

[Beveridge]

May check them out next month.

[DigitalGypsy66]

It looks like they bought TIAA Bank, so my TIAA credentials work with Everbank. Even easier to get that account opened up.

[King Colby]

Coins are gassin. BTC just surpassed 47k. Highest its been in 2 years

[count2infinity]

I'm stupid to this point for not maxing out my Roth 401K and then putting the rest into my regular 401K right? And I should fix that moving forward...

[Beveridge]

Do you mean IRA in one of those?

The limit for 401k Roth and 401k is one in the same.

[count2infinity]

I'm just looking at my company's 401K plan and adjusting my contributions. It has Pre-Tax and Roth after tax basis, so I'm guessing it's all 401K. A roth IRA, I'd have to open up an account somewhere and just have direct deposits there, right?

[Beveridge]

Correct.

If your employer matches no matter if 401k or 401k Roth, than I personally would do Roth 401k. This is what I do myself. Most employers do this, but the match is treated as a pretax contribution so down the line, I will have to pay tax when I withdraw that piece.

I will add that be aware that switching to a Roth 401k will be a little bit of a hit upfront as you'll have additional federal withholding taken out of your paycheck and make your tax bill a little higher at the end of the year.

A new rule this year is that employers can now designate a match as a Roth Contribution which is HUGE and I'm jealous of anyone working for an employer that will do this.


People will often argue about saving say 22% now and paying 10% later, but I say let me pay the extra now on my income and pay 0% on 100% of that account with earnings later in life. I'm betting on my account out growing any savings I could potentially get right now.

[NTP66]

Roth IRA's have limits based on your salary, so be careful there. Depending on how much you make, you may not be able to contribute the max of $6500. You can, however, get around this limitation by doing a backdoor roth conversion. My wife and I both do this every year to get around that limit, and will continue to do so until somebody closes the 'loophole'. But hopefully they don't.

[Beveridge]

I think he is talking 401k Roth, NTP66, or at least that's what it sounds like.

I actually do both my 401k Roth at work and Roth IRA because I like the funds in my IRA vs my employer plan.

[count2infinity]

Yeah... 401K Roth seems like what I'd be opting into. That has the same limits as a normal 401K, so just throw it all in under the 401K roth, tax it now, take it all later.

[count2infinity]

Finally opened up the 529 plan for little c2i. Went with Utah’s plan after looking a bit and balancing return and ease of use. Surprised how fast and painless it was to set up. It’ll auto withdrawal from my paycheck, so it’s really a set it and forget it kind of thing… now onto the next task. With my pay raise, I’m maxing out my 401K contributions, so I’ll start stashing some money into an IRA or just start auto depositing it into an investment portfolio. Should probably just put it all right into an S&P 500 fund and forget about it.

[MrKennethTKangaroo]

It’s a pretty big milestone to max out 401k contributions. Congrats.

Also with those ira contributions just be mindful that there are income limits tied to Roth and traditional Ira contributions

[LITT]

A new rule this year is that employers can now designate a match as a Roth Contribution which is HUGE and I'm jealous of anyone working for an employer that will do this.

do you have any extra info on this? my company offers a roth 403b which both mrs litt and i take advantage of but the employer match is done pre tax. would love to share this with our benefits team for their input if a roth option is available

[count2infinity]

Yeah, thanks. I've pushed hard since the pandemic on my manager to show my value and how underpaid I was for what I was doing. I was hired in 2016 to be the 4th member of our department. When I was hired, I was told that we'd be hiring another person in about a year. Our department has grown in responsibility and workload, and we're currently at 3 members. I should probably talk to my one other peer (the 3rd member being our manager) to make sure she's pushed for higher pay too given the workload increases.

We were living pretty comfortably on my old salaries, so anything that came in new as a result of a pay raise, I tried to put it toward savings and retirement and not adjust our lifestyles. (I had a 20%+ raise at the end of 2021, A more typical 5% raise at the end of 2022, and then a 15% raise at the end of 2023, so that all adds up pretty nicely in the ole 401K area).

It looks like we may be getting close to the IRA income limits, not there yet, but probably will be in a few years assuming the limits don't go up. Might just straight up invest then instead of trying to open an IRA.

[NTP66]

Source of the post Should probably just put it all right into an S&P 500 fund and forget about it.

Yes (VTSAX).

[count2infinity]

Or I could put it all into some ARK portfolios. I hear this Cathie lady really knows a thing or two.

[NTP66]

@Dickie Dunn, get in here, we need to bully c2i.

[Dickie Dunn]

All in on $FUBO