Author Topic: New To Investing Thread  (Read 327148 times)

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Offline sys

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Re: New To Investing Thread
« Reply #2100 on: January 23, 2019, 09:51:37 AM »
convert as much as you (i know it's not you, but rhetorically, "you") can.  should be able to do a lot more than 21k for 0% tax or almost 0% tax.  run through some quick calcs on how like 30 or 40k in income converts to agi and actual tax pd.  the effective rate will still be super low at those numbers.

also, if you can figure out how to declare a little income, contribute to your roth in those years.
"experienced commanders will simply be smeared and will actually go to the meat."

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Re: New To Investing Thread
« Reply #2101 on: January 23, 2019, 09:52:45 PM »
Whilst not making any money, is it possible to roll over your entire 401(k) into a (Roth) IRA?

Offline sys

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Re: New To Investing Thread
« Reply #2102 on: January 23, 2019, 10:25:40 PM »
i don't believe there are any income restrictions.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline steve dave

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Re: New To Investing Thread
« Reply #2103 on: January 23, 2019, 10:53:30 PM »
Whilst not making any money, is it possible to roll over your entire 401(k) into a (Roth) IRA?

I mean, yeah. But mostly no. without paying something.


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Re: New To Investing Thread
« Reply #2104 on: January 24, 2019, 09:26:47 AM »
I thought a 401(k) could be rolled over into an IRA between jobs. And that an IRA could be rolled over into a Roth IRA whenever.

Or does the IRS have specific rules about that kind of deal?

Offline sys

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Re: New To Investing Thread
« Reply #2105 on: January 24, 2019, 09:33:38 AM »
yeah, you can do that.  i think sd was just saying you'd have to pay taxes, if applicable.
"experienced commanders will simply be smeared and will actually go to the meat."

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Re: New To Investing Thread
« Reply #2106 on: January 24, 2019, 10:26:55 AM »
On the gains I guess? Seems better now than later, especially when your income is down.

Offline sys

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Re: New To Investing Thread
« Reply #2107 on: January 24, 2019, 10:44:10 AM »
 :eye:
On the gains I guess? Seems better now than later, especially when your income is down.

for sure. 
"experienced commanders will simply be smeared and will actually go to the meat."

Offline ben ji

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Re: New To Investing Thread
« Reply #2108 on: January 24, 2019, 10:07:19 PM »
I thought a 401(k) could be rolled over into an IRA between jobs. And that an IRA could be rolled over into a Roth IRA whenever.

Or does the IRS have specific rules about that kind of deal?

On the gains I guess? Seems better now than later, especially when your income is down.

You can and should roll a 401k into a traditional IRA every time you switch jobs, both are "Pre Tax" meaning you did not pay any income tax on the contribution so they are treated the same way and there are no taxes/fee's due. 

A roth IRA is "Post tax" meaning it has already been taxed (ex you have $6,000 in a saving account and decide to start a roth IRA).

If you convert your "pre tax" traditional IRA into a "post tax" roth IRA the entire amount is taxed as if you earned the income in the year you converted it. (Or maybe its just the contributions? and gains are not taxed?)

Scenario: You make 100k a year. You also have 100k in a traditional IRA and want to convert it into a Roth IRA. Since the traditional ira money was never taxed you would have to pay income taxes on the entire amount you are converting (or just your contributions, still not sure but lets assume for brevity its the entire amount), your income for the year would be 200k and the 100k you converted would be taxed like its the income you made between $100,001 and $200,000. Thats alot of taxes to pay.

The only time  converting a "Pre tax" traditional IRA into a "Post tax" roth IRA makes sense is when your income extremely is low and you have money to pay any taxes you might owe if any (going back to school/taking a year off to fish on every continent/etc).

Scenario: You quit your job in December and moved back into your parents basement for the next year to pursue your dream of being a professional BBS'r, you didnt make any money for the year but have 10k in a traditional IRA you want to convert into roth IRA. Your total taxable income for the year after the conversion is 10k and you would pay nothing in taxes on the conversion since people who make 10k a year dont pay income taxes. Poof, you never paid any taxes on that 10k when you contributed it to your traditional IRA and wont have to pay taxes when you withdraw it in retirement or after 5 years from your roth IRA(unless the gubment changes their laws).


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Re: New To Investing Thread
« Reply #2109 on: January 25, 2019, 07:20:32 AM »
Ah, yes. That makes sense. I’m getting mixed up cause I had done post-tax IRA to Roth conversion without any issues. Different than pre-tax IRA/401(k) obviously.

Offline K-S-U-Wildcats!

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Re: New To Investing Thread
« Reply #2110 on: January 25, 2019, 10:19:34 AM »
I'm doing some of my own investing with Fidelity. All mutual funds. Mostly index funds but a few riskier funds. From January 1, 2016 to today, my investments are up 43%. Over that same time span, the DJIA is up 40%. So looks like I'm basically matching to slightly beating index performance. Is that good? Should I be doing better?
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Offline steve dave

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Re: New To Investing Thread
« Reply #2111 on: January 25, 2019, 10:25:18 AM »
I'm doing some of my own investing with Fidelity. All mutual funds. Mostly index funds but a few riskier funds. From January 1, 2016 to today, my investments are up 43%. Over that same time span, the DJIA is up 40%. So looks like I'm basically matching to slightly beating index performance. Is that good? Should I be doing better?

nice work. I have exclusively Vanguard S&P Admiral shares and am going to ride that pony all the way home. if you can beat that it's a for sure win imo.

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Re: New To Investing Thread
« Reply #2112 on: January 31, 2019, 12:34:12 PM »
Anyone taken advantage of in-plan converting their after-tax 401(k) dollars into a Roth 401(k)? Seems like it should work with minimal consequences but can’t find much on this.

Offline chum1

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Re: New To Investing Thread
« Reply #2113 on: February 15, 2019, 05:36:23 PM »
I picked up a little of this stock like a year in an attempt to buy low. Here's what it's done since.  :lol:

EGLTQ
EGALET CORP -97.87%

Is now -99.99%  :lol:

Offline CHONGS

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Re: New To Investing Thread
« Reply #2114 on: February 15, 2019, 05:38:23 PM »
HODL

Offline steve dave

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Re: New To Investing Thread
« Reply #2115 on: February 15, 2019, 08:13:28 PM »
yeah, HODL chum

Offline DaBigTrain

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Re: New To Investing Thread
« Reply #2116 on: February 15, 2019, 08:14:25 PM »
 :)
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

https://blockstream.info/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Offline chum1

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Re: New To Investing Thread
« Reply #2117 on: March 11, 2019, 06:42:04 PM »
I picked up a little of this stock like a year in an attempt to buy low. Here's what it's done since.  :lol:

EGLTQ
EGALET CORP -97.87%

Is now -99.99%  :lol:

What does this mean???

Quote
EGLT
Quotes are not supported for this symbol

https://m.nasdaq.com/symbol/eglt

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Re: New To Investing Thread
« Reply #2118 on: March 12, 2019, 10:58:37 AM »
HOLD

Offline chum1

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Re: New To Investing Thread
« Reply #2119 on: March 12, 2019, 11:50:49 AM »
HOLD

I appear to have no choice. Like, there are no links or buttons to click on my investment account page for this particular position. It just looks like this: EGLT 0.0000 :lol:

This has been the most entertaining stock I've ever owned. Investing is fun!

Offline IPA4Me

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Re: New To Investing Thread
« Reply #2120 on: March 12, 2019, 12:19:42 PM »
A delisted stock. Oh man. There's a story for the grandkids.

Offline steve dave

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Re: New To Investing Thread
« Reply #2121 on: March 12, 2019, 12:22:22 PM »
I’ve had a couple go belly up. Enron being one example back when I was a youngster. It will just disappear. You can hope there is some sort of litigation or some crap (iirc I got a good amount back from Enron into tiny little steve dave’s college fund based on some of that).


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Offline chum1

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Re: New To Investing Thread
« Reply #2122 on: March 12, 2019, 12:29:16 PM »
It took me a while to find (probably mostly because I don't know what I'm doing). Related to the bankruptcy. I'll always fondly remember Egalet Corp. and what a total pos company it was.

Quote
The Plan provides for, among other things...the cancellation on the Effective Date of all of Egalet Corp.’s common stock and all other equity interests in Egalet Corp.
https://marketexclusive.com/egalet-corporation-nasdaqeglt-files-an-8-k-bankruptcy-or-receivership/2019/01/


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Re: New To Investing Thread
« Reply #2123 on: March 12, 2019, 02:41:41 PM »
It took me a while to find (probably mostly because I don't know what I'm doing). Related to the bankruptcy. I'll always fondly remember Egalet Corp. and what a total pos company it was.

Quote
The Plan provides for, among other things...the cancellation on the Effective Date of all of Egalet Corp.’s common stock and all other equity interests in Egalet Corp.
https://marketexclusive.com/egalet-corporation-nasdaqeglt-files-an-8-k-bankruptcy-or-receivership/2019/01/
I smell a securities fraud class action. Chum in the water.

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Offline chum1

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Re: New To Investing Thread
« Reply #2124 on: March 12, 2019, 02:48:42 PM »
So, maybe EGLT will make me rich after all!?!?