Tbh after you get your employer 401k match I would shoot for your HSA limit before 401k since you can actually use those funds for qualifying medical expenses tax free, and most if not all HSA providers allow you to invest your funds similar to 401k options. Once you hit retirement age you can take distributions from it just like any other retirement account. You can only contribute while in a high deductible plan, but you keep every dollar that you contributed and can always use it for health expenses once it is funded regardless of whether you stay on a high deductible plan in the future. HSAs are the shit.
After a few years of hitting mine hard, I have multiple years of deductibles covered and have at least 50% of the account balance going straight into the S&P fund that’s offered.
I was just rolling with the difference in paycheck deductions and the $500/yr my company throws in there, but realized I could/should be saying move. I should probably look into what I’ve got that money doing next.
Bottom has fallen out a bit, below the wise @JTSEO9's lowest line of 184. At what point did you bail out?
now officially have $150,000 with these people spread over 5 deals. started in march 2018. hopefully will get some $ back at some point https://www.trinitypeg.com/
they are really easy to work with and a lot of their deals are interesting. we've had to set up LLCs and get a couple of people involved when we want to invest because their minimums are usually 75k per deal
i've only done real estate stuff with them. i think they have a huge investor list, and only send certain deals to certain people. i haven't seen anything related to o&g
i grew up in corpus and know a bunch of oil and gas people. i have zero desire to do anything in that field.
In need of overall investing advice. First to admit I’ve sat on the sidelines lately (lot of money in high yield savings) and there's nothing more to it than being uneducated and scared about investing. I’ve spent a good chunk of time the past two weekends reading about potential strategies and while I feel much more educated on overall investing and retirement planning I’m still lost as to my best possible path forward. I have a large sum of funds I want to invest but I also have monthly disposable income I’ll want to invest as well. Is this where I might diversify between something like an ETF and a mutual fund? From my reading/watching I’m thinking I want to invest in funds that don’t produce/invoke capital gains, especially short term. Would this mean ETF’s are my best bet? Secondarily which “type” of account gives me the best tax shelter? I currently max out my 401k and am operating in a high bracket. Thanks
Tax shelters are your 401k (which you are already doing), IRAs (only available if you income hasn't phased you out, and the HSA. You can also see if your work will let you do backdoor Roths, which could let you do 56k into your 401k/year. Otherwise, see the below links for other suggestions for a taxable account:
Just to be clear, only the Roth has salary contribution limits. You can still contribute to a Traditional IRA (and roll over into a Roth via the backdoor strategy mentioned above).
would love DB to keep falling i have a couple thousand $6 puts that expire in July that i got for 7 cents a pop
There are limits on the deductibility of your traditional contributions if you’re also using a 401k, but that wouldn’t matter if you’re backdooring.
Interesting, I didn't know that. Can you provide a little more information, I'm not finding anything on Google around that scenario.
Correct. I can't take traditional IRA deductions but I don't care since I'm back dooring https://www.thebalance.com/are-you-eligible-for-the-ira-deduction-it-depends-2388981
Just out of curiosity, what was the initial intention of allowing a backdoor into a Roth IRA with no contribution limits, but imposing a limit on normal contributions to a Roth IRA?
There’s still a limit on backdooring. The IRA limit is the same no matter if it’s a deductible, non-deductible or Roth contribution. Edit: misread the question.
I don’t think there’s a specific reason that pinpoints why it’s out there to do except it being a “clever” way to manipulate taxes