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About ConstruxBoy

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    Kate's Daddy

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    Marvin, NC

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    Buffalo Bills

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  1. I just assumed you were the CEO of a VC hedge fund...
  2. Good points, esp about the earnings in Traditional. Although I think the SECURE Act changes the inheritance a bit as it's not a stretch IRA anymore. But still not taxed until withdrawn. I argue your last point with a lot with people. The money you put in a Roth is already taxed. So I can't imagine a double tax ever getting through Congress, or the American people, on that. But on earnings, sure that's more possible. I've said it before but I really think the most likely "anti-Roth" change down the road is a closure of the backdoor/mega backdoor/etc. That actually makes sense given the general idea behind the Roth. You make good arguments for the Traditional although I still think it helps to have some of both in terms of the flexibility in retirement. We should meet for beers sometime soon to discuss more.
  3. I would add that the risk of the brackets going higher (beyond inflation) is greater the younger you are. Frankly, we have one of the lower tax rates/brackets for first world countries. I know that all those other countries are just "liberal commies", but really, there is a chance we get closer to their rates in the next 20-30 years just based on a reversion to mean, if you will. So the longer you have to go until retirement, the greater that chance, IMO. Of course, in general I think younger people should be putting more into Roth than Traditional anyway since their monies have so much longer to go tax free in a Roth. So it works out to do that and then cut back into Traditional as you get older and get more benefit from the tax break on the front end. But I do think most people seem too certain that our tax structure will just stay the same "forever".
  4. My rule is I only do it if the person in front of me does it and even then I only go about 1/4 or 1/3 of the way it can recline. Honestly you need a little space if the person in front of you goes all the way back. And I have said loudly to the person behind me, "Sorry the guy in front of me is all the way back".
  5. Thought of you last Saturday night as I watched the game from a hotel in Durham. Hope you enjoyed the outcome. I clearly did not.
  6. Joking aside, that's incredibly conservative as it is. Safe? If the economy and securities markets collapse any day now, sure. But if you spend 12 months waiting for that to happen while the markets keep going up, those are gains you'll never get back. And this , I assume, is all your retirement assets? So even money you (hopefully) don't need for 15-20 years? I think it's over the top, but if it makes you sleep better at night, it's right for you. I prefer the bucket approach where you have 2 years or so in cash, 4-6 years in bonds and then the rest in solid equities.
  7. I mean, it's not as good as its rival HS, but good enough... 😁
  8. I think it sounds pretty appealing to put aside some money now to not have to worry (much) after a certain age, like 85. Then you can you plan to use your nest egg for a certain number of years and the math becomes easier. I would imagine that without having to over save just in case of late life medical/money issues, people would enjoy their early retirement years a little more. They would probably leave smaller estates to their heirs though.
  9. Someone more tax knowledgeable than me should chime in. That is the gift rule adjustment. I would have thought it didn’t apply between a married couple (at the time of transfer) but maybe it does. I guess if neither account was joint, it makes sense. I think you’re screwed.
  10. Not surprised either. There's no "real" excuse, but as a generalization, most people spend the money they receive. It's almost human nature. Very few people are savers or FIRE types. So bigger, more expensive houses, cars, dinners are just part of the lifestyle. I get that it's easier to get mad at the higher earners doing it, but it's probably also unrealistic to expect that most won't be in that paycheck to paycheck loop.
  11. If it helps you judge the time frame, I got my check from the regular season contest today. So plan for a couple of months. But they're certainly good for it.