al audi
Banned
- 29,810
- 4,562
Damn bro, good for you.
NT: Official Personal Finances Thread
Damn bro, good for you.
- 3,223
- 2,309
Checking in. Happy to see my fellow NTer's trying to better themselves 
"Do not save what is left after spending, but spend what is left after saving." -Warren Buffett.
"Do not save what is left after spending, but spend what is left after saving." -Warren Buffett.
solefed
formerly exo1127
- 3,069
- 3,841
[emoji]128175[/emoji]
- 3,949
- 1,197
Almost forgot to mention too that a Roth IRA isn't just good because of the tax free returns but because you have more investment options too. Your 401k provider will only let you invest in a handful of options so the general public doesn't get overwhelmed by everything and just not do it. With a Roth IRA, you can start it wherever you want and have a virtually unlimited amount of options to choose from.
- 732
- 222
Whats the early withdrawl penalty for a roth?
- 10,915
- 2,735
No penalty for your contributions. Think same rules apply for whatever returns you get
- 4,727
- 5,513
Just to help clarify for some of the newbies..
Ex. You put 1000$ into your ROTH, your ROTH made 200$, so you have 1200$ total. You can withdraw the 1000$ you contributed, but not the 200$ that it earned (without penalty, with a few exceptions)
- 732
- 222
So lets say an employer matches $100 of my $100 for $200 total. And the return on the roth made me is $20 for a total of $220. The $200 is what i can withdraw anytime penalty free?
sneaksoy
Supporter
- 3,415
- 3,070
Your employer would not be contributing to your Roth IRA.
Employers contribute to a 401(k) which I think has certain penalties for any withdrawals, but I'm pretty sure you can take loans against a 401(k) if necessary
- 16,095
- 16,846
my company doesn't have a 401k program so i never bother to do anything related on my own. but i told myself i would open a retirement savings this year. any advice? i think i would start out putting ~10% of my take-home a month. thanks
- 24,806
- 21,587
Anyone read I'll teach you how to be rich?
- 3,949
- 1,197
No. Your employer won't contribute to a Roth IRA. An IRA is an INDIVIDUAL retirement arrangement which means it's up to you to set up. Your employer will set up a 401k plan. Even if you are able to do a roth 401k, you'll only be able to withdraw what you contributed, which would be $100. Either way, it's not a good idea since you're unplugging that money from the market and negating the potential growth it would be earning.
munchmaquchi
Banned
- 10
- 10
NTPF fam, I deposit half of my monthly salary into my savings account. I currently have ~$100k sitting there.
Where can I park this to generate some kind of return? Market uncertainty has me very hesitant.
Thanks.
Where can I park this to generate some kind of return? Market uncertainty has me very hesitant.
Thanks.
Last edited:
al audi
Banned
- 29,810
- 4,562
i have a traducing account but done nothing with it yet...................i feel the same
i was thinking of something that will just generate cash flow...........instead
like luxury port o potties srs yes srs
Last edited:
- 3,949
- 1,197
Real Estate.
We work with a company that allows you to invest in properties they've identified in high yield areas that give good double digit returns. The properties are pretty cheap too.
- 10,915
- 2,735
Jesus dude, that's a lot of dough to have sitting not doing much.
I'm of the belief that you, especially if you're planning on letting it sit a few years/decades and not daytrading, should invest in stocks regardless of current volatility. The long-term trend is always up. Mix in some "safe" investments with bonds, and stash whatever you need for emergencies.
Look up "lazy portfolios" and go with something you're comfortable with.
Last edited:
- 4,758
- 1,409
Agreed, either do a lazy portfolio or RE. Hell do a mix of both.
- 605
- 108
Which real estate company is this?
- 3,223
- 2,309
Real Estate would be one of your safest bets. I'd personally purchase 7-10 rental properties using leverage. Hire a property management company and let them manage them. Rental income would pay for the mortgages.
- 9,995
- 3,286
7-10 properties with only $100k?
- 10,915
- 2,735
You can probably buy 7-10 shacks in India for $100k.
Managing that many properties sounds like a full-time job in itself.
Managing that many properties sounds like a full-time job in itself.
- 3,223
- 2,309
Yes, using leverage. Depending on where you live of course. I've purchased 8 rentals in the past 2 years and have not paid more than $12,000 as a down payment and closing costs.
- 6,813
- 4,736
details on said RE company?
- 1,246
- 158
So I have an old 401k from a previous job. Is it better to let it sit there or roll over to an IRA?
- 605
- 108
Ive been meaning to ask you do you have your RE license? How much are the properties you tend to look for?
