IRS announced that the 401k limit is going up to $19,500 for 2020. IRA limit will stay at $6,000. Contribution Limits 401(k)/403(b)/most 457 plans/Thrift Savings Plan increases to $19,500. Catch up limit for employees 50 and older rises to $6,500 from $6,000 SIMPLE contribution limits goes up to $13,500 from $13,000. IRA contribution amount remains the same at $6,000 Income Limits Single IRA income limits when covered by a workplace retirement plan phaseouts increased to $65,000-$75,000 from $64,000-$74,000 MFJ IRA income limits when covered by a workplace retirement plan and the spouse is making contribution phaseouts increased to $104,000-$124,000 from $103,000-$123,000 MFJ IRA income limits for the spouse not covered under workplace retirement account increased to $196,000-$206,000 from $193,000-$203,000. MFS who is covered by a workplace retirement account did not receive a COL adjustment and remains at $0-$10,000 The income phaseout for taxpayers making Roth IRA contributions is now $124,000-$139,000 for singles and HoH, up from $122,000-$137,000. For MFJ, the phaseout is now $196,000-$206,000 up from $193,000-$203,000. MFS remains flat at $0-$10,000. The income limit for the Saver’s Credit is $65,000 for MFJ, $48,750 for HoH, and $32,500 for singles and MFS. Increase of $1,000/$750/$500 respectively. Few additional ones: Total limit for 401k/etc per person per company is $57k up from $56k HCE limit is $130k up from $125k Comp limit on 401k contribution is $285 up from $280 (this does not mean what you think it means, tldr if you make a fuckton, max out your 401k earlier in the year or otherwise check your plan's rules, because they vary here) SS tax phase-out is $137,700 up from $132,900 (for a total of $4800*0.062 additional tax)
Example from the IRS website: Example: Your plan requires a match of 50% on salary deferrals that do not exceed 5% of compensation. Although Mary earned $360,000, your plan can only use up to $275,000 of her compensation when applying the matching formula for 2018. Mary’s matching contribution would be $6,875 (50% x (5% x $275,000)). Although Mary makes salary deferrals of $18,500, only $13,750 (5% of $275,000) will be matched. She must receive a matching contribution of $6,875 (50% x $13,750) under the terms of the plan.
Still doing well with this? I just started a little bit on the side and wondering which offerings you put yours in to get this kind of return.
Anyone have any good stock market ideas right now? Looking for a stock or etf to buy but haven’t come across anything that has jumped out at me.
I’ve got QQQ which has been doing well naturally since the market is up and is similar. Nasdaq 100 vs total market. I’ve also got VGT which is the ETF version of VITAX. might just put some more into one of those
Checked my rollover for the first time since leaving my gig, holy shit int'l has picked it up this year. That's all our clients wanted to talk (complain) about back in June ...
If you're looking to hold, I'd do like others suggested. If you don't mind day trades, UPRO is a tripled leveraged S&P stock that is really nice when the markets are on heaters like the first part of the week. Or TQQQ is for NASDAQ.
do people solely put their emergency fund in high interest savings or do some people invest in a taxable account just with a more conservative bent vs a regular long term hold taxable account wouldn't put all of it in there but trying to leverage it the best, don't want to leave money on the table as the emergency fund is a not insignificant amount of money and been reading how some people calculate free credit into it as that's a way to handle a short term spike in needed money. income and job are secure or would take limited time to change.
In my 401k I use IVV, IJR, IJH, IXUS, IEMG, and USRT for large, mid, small, international, emerging markets, and a REIT.
Vanguard/iShares. I don’t have a super targeted allocation but generally invest monthly in their broad market stuff.
Some that I have are QQQ (nasdaq 100), KBWB (banks), VGT (infotech), VLX (healthcare) and IJT(small cap). Healthcare has picked up lately and small cap has sucked but I’m hoping for a better 2020 there.
I do Discover savings, but I struggle with that notion too of leaving money on the table. I've flirted with a bond ETF for the emergency fund, but I'm too conservative for it.
Think I've decided I'm going to do basically two months of expenses in high interest savings and four months in a taxable account that largely matches my long term retirement taxable account plan just scaling the stock/bond split to 65/35 to make it more conservative. The arguments around "what emergency expenses would you be unprepared for using normal mechanisms (HSA/credit card/etc)" has me pretty limited in what I'd need a big stack of liquid cash for.
I'm also in a different situation that you. I think you're a DINK. I'm single income with 3 kids, so I have 8-9 months expenses as my emergency fund and feel like I need to be more conservative with it. Only 5% bond in my retirement savings though.
what are you all doing to hedge this market? I'm already spooked that we have the longest period of growth; so there's got to be a pull back soon. I'm sure the market won't react well to Bernie/Warren getting the nomination. stock piling cash ready to buy on depressed prices?
everything i've seen forever is that timing the market is just gambling and almost always a losing proposition that cash sitting dormant is losing you money that in many cases would outpace whatever pull back that happens since the guesses around recessions/etc can be off by years
This. People that pulled out last winter have missed out on 24%+ gains this year. Will be interesting to see what happens when the election happens. I've seen the headlines predicting a 25% drop if Warren is elected, but haven't read past that.
If you go into the weeds on the politics angle you can choose your own adventure about what you think will happen. Especially because the odds of all the different outcomes are pretty static. Wall street definitely wants to scare people away from candidates that might actually pay attention what they're doing though, so i'll take any of those predictions with ten pounds of salt.
You're absolutely right. Saying that, there is one RIA I'm familiar with that has done an incredible job timing the market over the last 50+ years. I believe they got their start with the John Wayne family fortune. Their monthly market updates for their premier wealth strategy are usually a good (and quick) read. https://www.churchillmanagement.com/strategy-updates/
I hear you. That’s everything they taught me in B school. Don’t try to time it, it evens out, etc... This is just such a weird time. Ridiculous release of capital with the lower corporate tax rates, record growth. There has to be a pull back at some point and a realization this isn’t reality. It spooks me out. I was curious if anyone was doing anything or just riding it out. My wife needs a car and I’ve saved up a decent chunk for a down payment when we buy it in February. I have it sitting making 1.7%; I just wish I had that money liquid if I can go bargain shopping on a depressed market. But that’s on me, because I could liquidate some of my positions if I had the balls and truly thought it was happening next year.
FWIW I definitely believe in dollar cost averaging and steady investment will always win out versus trying to time the market. That being said, about 2-3 months ago instead of investing my standard monthly buy into VTI, I put in limit orders @ 150.50 (versus then current price of 152). VTI has since gone to 160 and I kind of look like a jackass. That being said, I’m reasonably confident that at some point in the next 2-3 years those 150 orders will execute but we’ll see.
Actually, lump sum immediately is typically better than dollar cost averaging. The earlier you’re in the market, the better. Dollar-cost averaging is simply a variation of market-timing.
I know you guys didn't like my PG&E idea at $7/$8 a share, and that's fine, I wont hold it against you. Let's talk about US Silica (SLCA), at $5.37 a share we're all going balls deep in this one, right?
Ok, ok, fair enough. I just don't want you guys crying when I have all the money and you guys are still paying on student loans into your 50's.
If you actually start buying stock in frac sand companies like us silica, Covia, carbo, high crush, etc please start a thread so we can track it
Oh it's happening cupcakes. I'm already in on PG&E too. We don't need a special thread for it, I'll just bump this one when it comes time to rub your noses in it like you shit on the carpet. Don't let the guy who's been investing for two weeks make you look bad.
Hang in there, it's already back into double digits, it may take a bit but you'll get out of this unscathed.
I see that cunt of a governor is trying to spoil my get richer plan. That's ok, the stock will be on super sale and I'll just pick more up. https://www.cbsnews.com/news/pg-e-s...ects-13-5-billion-pg-e-settlement-2019-12-14/