Until they change the rule and it's not tax-free anymore. That is a non-zero risk.
Retirement Targets
- Thread starter yowza
- Start date
Until they change the rule and it's not tax-free anymore. That is a non-zero risk.
i have a hard time believing they'd change existing accounts tax structure. they won't double-tax the original income and the gains. i can see them eliminating the Roth as an option if they need tax money.
Worked with a old-time lawyer that said a lot of his clients that had passed away were worth more than they had been in anytime in their life at death. .
He equated owning stock to owning farm ground...it's not worth anything if you don't sell it. A number of his clients had never sold a single share of stock. These folks that had saved their whole life couldn't pull the trigger when it came to selling.
He also advised his elderly clients to "do your giving while your living so you are knowing where it's going".
He equated owning stock to owning farm ground...it's not worth anything if you don't sell it. A number of his clients had never sold a single share of stock. These folks that had saved their whole life couldn't pull the trigger when it came to selling.
He also advised his elderly clients to "do your giving while your living so you are knowing where it's going".
The problem is at least the way it’s set up now you are really screwing your kids abilities to pay. Your wealth still factors into their costs whether you pay or not. There are ways to accomplish those goals without not paying.
That would suck if you started from nothing and I mean nothing and worked hard to educate yourself (and pay for it oneself) and worked hard and saved like heck and educated yourself on investing and maintaining discipline and then the politicians swoop in and raid your nest.
Unless you remarry to someone who has roughly the same type of assets you had prior to divorce.
Great information. Vast majority of people are payment buyers. Leasing companies love that - rarely do people ask what the imputed interest rate is. Whether you lease or buy - swallow your pride for 15-20 years and buy/lease at 50% of what u can afford.
Youngings gotta remember that it’s just as easy to love a spouse from a rich family as one from a poor family.
Ya dogg, I’m not going back in time 20 years and driving a Honda Civic again.
I think hooking up with a wealthy lady makes it at least 1% easier to lover her. Just have to balance it against whatever baggage comes with.
Love it. I understand, but at least you did that at a point in time? Was it new or used?
Funny I was listening to some high school age kids last week and they were talking bitcoin and how they were gonna invest in it and get wealthy. Like there is no risk. Guess important lesson to learn early on with time to make up for mistakes.
Last edited:
But you at least had hogs to clean up. Think about the kids that didn't have that opportunity? Come on, man!
They have to have earned income to do it. You would need to pay your kid income, withhold the appropriate taxes and then contribute.
