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Investment Thread - For all your money needs

How do you report them on your taxes? What’s the total $ you contribute?

And yes, using a Roth IRA in your name for college savings is dumb. It reduces the amount you can save for retirement and you’ll pay tax on any earnings you withdraw. It will also affect your FAFSA expected family contribution amount.

We both put the 500 per check in each to keep the yearly contribution at 6 grand. Our thought process on the Roth for college was probably just being overly optimistic and hoping the kids find a way to get most of their higher Ed paid for so we can add those to our retirement plans in a perfect world. So you think a 529 would be smarter?

And Palma, paying off a house in the sticks is a little easier than paying one off where people actually want to live.
 
good decision diggler. dickhead.

I need some advice for some leaps I bought:

I have contracts for 5.5c 1/20/2023. They are...up. But I think there's a shitload more upside coming on the way. Do I hold these until like fucking 2022 for some stupid profit?
 
We both put the 500 per check in each to keep the yearly contribution at 6 grand. Our thought process on the Roth for college was probably just being overly optimistic and hoping the kids find a way to get most of their higher Ed paid for so we can add those to our retirement plans in a perfect world. So you think a 529 would be smarter?

And Palma, paying off a house in the sticks is a little easier than paying one off where people actually want to live.

I think the initial confusion for me anyway was that it sounded like you have 4 total Roth IRAs, to each of which you were contributing $6000. Which would not be allowed under tax law.
 
I think the initial confusion for me anyway was that it sounded like you have 4 total Roth IRAs, to each of which you were contributing $6000. Which would not be allowed under tax law.

Yeah, no that's because I had my information incorrect because I don't handle our retirement plans because my wife is smarter than I am. I learned it's the two Roths and the 529s. As if my lack of basic fiscal understanding wasn't demonstrable enough by the fact that I'm asking this thread for advice, my wife just told me that I don't know what I'm talking about but it's cute that I'm trying to help.
 
Peak 2021, I saw a TicTok last night that has me wanting to switch to Bi-weekly mortgage payments instead of monthly payments. I checked and my loan (Piedmont Federal) allows prepayments with no fees and applies any extra payment directly to the loan principal.

Why would I not do this? I end up making the total of 1 extra payment each year but it shaves like 5-6 years off the loan and I save on interest.
 
Yeah, no that's because I had my information incorrect because I don't handle our retirement plans because my wife is smarter than I am. I learned it's the two Roths and the 529s. As if my lack of basic fiscal understanding wasn't demonstrable enough by the fact that I'm asking this thread for advice, my wife just told me that I don't know what I'm talking about but it's cute that I'm trying to help.

Fair enough, I wasn’t pretending to be an expert but that part got me a bit concerned.
 
Fair enough, I wasn’t pretending to be an expert but that part got me a bit concerned.

To be fair, she's probably funneling most of our money into a secret account that I don't know about so she can run off with the pool boy. Of course, first we have to build a pool.
 
Peak 2021, I saw a TicTok last night that has me wanting to switch to Bi-weekly mortgage payments instead of monthly payments. I checked and my loan (Piedmont Federal) allows prepayments with no fees and applies any extra payment directly to the loan principal.

Why would I not do this? I end up making the total of 1 extra payment each year but it shaves like 5-6 years off the loan and I save on interest.

I mean, assuming your interest rate is really low, if you put that extra payment in the market instead you might do even better?
 
Unless the Fed steps in (and maybe even if they do), most of these high-flying stocks are toast. Rising rates going to have people crowding to the exits. This is just beginning, imo.
 
Yeah, maybe?

2.85%, 27 years remaining

if you want no risk, buy a series EE savings bond every year for the next 7 years using that extra payment

the bond will double in 20 years, which is a guaranteed 3.52% tax-deferred interest rate

ETA: I am hazy on the tax law, which of course can change, but pretty sure you can then use the bond's interest growth to pay for college and not pay tax on it
 
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Unless the Fed steps in (and maybe even if they do), most of these high-flying stocks are toast. Rising rates going to have people crowding to the exits. This is just beginning, imo.

Dude, the next stimmibux that come down the pipe are going straight into the market. TLSA sees another ATH the week after stimmibux hit accounts. I will bet you.
 
Dude, the next stimmibux that come down the pipe are going straight into the market. TLSA sees another ATH the week after stimmibux hit accounts. I will bet you.

I think you’ve gone full ret...

Nope. I’m not gonna do it.

But yeah, I’ll take that bet.
 
We both put the 500 per check in each to keep the yearly contribution at 6 grand. Our thought process on the Roth for college was probably just being overly optimistic and hoping the kids find a way to get most of their higher Ed paid for so we can add those to our retirement plans in a perfect world. So you think a 529 would be smarter?

And Palma, paying off a house in the sticks is a little easier than paying one off where people actually want to live.

My house would probably be like $10,000 where you live.

Peak 2021, I saw a TicTok last night that has me wanting to switch to Bi-weekly mortgage payments instead of monthly payments. I checked and my loan (Piedmont Federal) allows prepayments with no fees and applies any extra payment directly to the loan principal.

Why would I not do this? I end up making the total of 1 extra payment each year but it shaves like 5-6 years off the loan and I save on interest.

Because you can just pay 1/12 of your mortgage extra every month and it’s the same thing.

One of the best things I did the summer was go through all of our debt and figure out how best to optimize extra payments. At some point, it’s diminishing returns. Like paying at extra $500 reduces the total interest by a large amount but paying an extra $1000 doesn’t reduce the interest by much more.
 
Seems like everything’s going down. Might be the popping of the everything bubble
 
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