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Trump: 401k's are just a tax haven for the rich. Middle class hurting. Bad deal!

https://mobile.twitter.com/realDonaldTrump/status/9224281186...
startled orange resort international law enforcement agency
  10/23/17
Told u fags this was fake news
Ivory hairraiser giraffe
  10/23/17
...
stirring antidepressant drug
  10/23/17
401ks are a huge scam, possibly the biggest scam perpetrated...
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
Go on
Ivory hairraiser giraffe
  10/23/17
It's like this: You're ten years old. Your uncle gives you a...
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
sad!
Naked nibblets
  10/23/17
...
snowy arousing persian
  10/23/17
just checked my 401K balance. $ is still there.
Cerebral pontificating stain
  10/23/17
try asking to have it and see what they say
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
pretty sure I would just have to pay taxes on it and some bu...
Cerebral pontificating stain
  10/23/17
("pretty sure" guy who hasn't looked into the fine...
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
but i bet you have, mr smart guy!
Cerebral pontificating stain
  10/23/17
just asked my (((mom))), she said it's still there
Insanely creepy church building foreskin
  10/23/17
This literally happened to me. Except the roles were reverse...
Frisky Gaming Laptop Sweet Tailpipe
  10/23/17
My sister-in-law takes all of the gift cards we all give my ...
Charcoal Institution
  10/23/17
you: giving your nephew gift cards wtf is wrong with you
snowy arousing persian
  10/23/17
I have no idea what to fucking give him. I live 1,200 mile...
Charcoal Institution
  10/23/17
Nah it's actually pretty great if you have impulse control a...
vivacious bistre striped hyena karate
  10/23/17
Good day to you Mr. Goldstein
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
Look at it this way. In 35 years, there's a good chance you...
vivacious bistre striped hyena karate
  10/23/17
tell me more about what there is a good chance of in 35 year...
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
Seriously. Just lol
saffron irradiated depressive cruise ship
  10/23/17
Are you not doing the same? Predicting policy changes? Wha...
vivacious bistre striped hyena karate
  10/23/17
I have 100k liquid from working two jobs as a 3rd year law s...
Tan Galvanic Mad-dog Skullcap Parlor
  10/23/17
Okay, well your situation shouldn't be applied to everyone. ...
vivacious bistre striped hyena karate
  10/23/17
lol
Talking alpha jap
  10/23/17
...
Motley Drab Ceo
  10/23/17
...
turquoise ungodly corner
  10/23/17
*LathamTouchedMe seething, donating $27 to pro-immigration c...
bright soul-stirring office hunting ground
  10/23/17
...
hyperventilating dashing location
  10/23/17
...
saffron irradiated depressive cruise ship
  10/23/17
...
pale concupiscible hairy legs temple
  10/23/17
Xo Trump
Brindle Fragrant Public Bath Sound Barrier
  10/23/17
lol at trumpmos cheering trump's "decision" to kee...
180 macaca
  10/23/17
lol, credited. Like the GOP isn't hunting for anything to sn...
bateful twinkling elastic band
  10/23/17
I disagree vehemently with Trump's decision but both of you ...
Naked nibblets
  10/23/17
No, I said it would never fly once light were shed on it. Fa...
bateful twinkling elastic band
  10/23/17
*gaped*
Naked nibblets
  10/23/17
Look if Trump actually offered a tax plan that was even mild...
bateful twinkling elastic band
  10/23/17
Gaped because I said it was a bad idea and apparently Trump ...
180 macaca
  10/23/17
I was just starting a conversation!
Naked nibblets
  10/24/17
protip: 401(k) contributions were never on the chopping bloc...
Ivory hairraiser giraffe
  10/23/17
sad. nevertrumpers and shitlibs were having a great time in ...
sienna dysfunction
  10/23/17
I'm sure they'll show up itt to cheer for Trump
Comical Vermilion Mood Electric Furnace
  10/23/17
401Ks are a bet your future tax rates will be lower than cur...
burgundy rehab puppy
  10/23/17
bingo, though growth tax free is nice the biggest benefit...
bright soul-stirring office hunting ground
  10/23/17
yea 401K match gave companies cover to get rid of defined...
burgundy rehab puppy
  10/23/17
what would be a scenario in which someone has a higher tax r...
sienna dysfunction
  10/23/17
We don't know future tax rates. Lots of say 150K or less ...
burgundy rehab puppy
  10/23/17
If you're contributing from a young age, the savings from no...
bateful twinkling elastic band
  10/23/17
sorry (lol law board) but 100 dollars growing for 10% for 30...
burgundy rehab puppy
  10/23/17
Gains are taxed at 15-23.8% long term cap gains rate in 2nd ...
Talented National
  10/23/17
You don't know future cap gains rate. And it's not favorable...
burgundy rehab puppy
  10/23/17
It won’t for 0, that’s for sure.
Talented National
  10/23/17
401(k) Withdrawals Are Income When you take withdrawals fro...
burgundy rehab puppy
  10/23/17
You were incorrect in your second scenario. Your $65 gets in...
bateful twinkling elastic band
  10/23/17
unrealized gains are taxed?
180 macaca
  10/23/17
No, but there are sometimes capital gains in mutual funds th...
bateful twinkling elastic band
  10/23/17
401k withdrawals are taxed as regular income, yes. But yo...
Talented National
  10/23/17
OK but it was just to illustrate it's a pure tax arbitrage n...
burgundy rehab puppy
  10/23/17
But it's not pure tax arbitrage. You don't pay capital gain...
vivacious bistre striped hyena karate
  10/23/17
It's tax avoidance only if your correctly guess your current...
burgundy rehab puppy
  10/23/17
"with some room for fudge error because of the capital ...
bateful twinkling elastic band
  10/23/17
You have more control over when to take gains than 401k with...
burgundy rehab puppy
  10/23/17
The point about using Roth 401k or IRA is fair. Given the un...
bateful twinkling elastic band
  10/23/17
WHY DO YOU KEEP IGNORING THE CAPITAL GAINS THERE ARE TWO ...
vivacious bistre striped hyena karate
  10/23/17
I didn't get that you want to assume everything is contribut...
burgundy rehab puppy
  10/23/17
You sound really ignorant on this stuff man. You fail to gr...
vivacious bistre striped hyena karate
  10/23/17
??? roth gains aren't taxed
aromatic startling set
  10/23/17
It's 401k vs regular not 401k vs roth
vivacious bistre striped hyena karate
  10/23/17
You need to tax the interest in the second scenario. lol ...
excitant bespoke prole
  10/23/17
Withdrawals from your 401(k) do not qualify for capital gain...
burgundy rehab puppy
  10/23/17
Lmao how fucking dumb are you? "Fail to qualify for ca...
vivacious bistre striped hyena karate
  10/23/17
It is hilarious how people think that the benefit of 401ks i...
vivacious bistre striped hyena karate
  10/23/17
Wtf should i be doing then? Just contributing up to my emplo...
sienna dysfunction
  10/23/17
No - contribute as much as you can. 401ks are great. I'm j...
vivacious bistre striped hyena karate
  10/23/17
you should probably let your husband handle your finances
Cerebral pontificating stain
  10/23/17
Lol sorry all withdrawals r taxed as ordinary income
burgundy rehab puppy
  10/23/17
are you not forgetting capital gains taxes you don't have to...
vivacious bistre striped hyena karate
  10/23/17
He also said on twitter that we would be guaranteed to have ...
Misanthropic Address Scourge Upon The Earth
  10/23/17
*Bizzarro Trump vetoing first legislative accomplishment bec...
floppy demanding pocket flask
  10/23/17
None of this matters when Kamal Harris taxes the shit out of...
flatulent psychic marketing idea
  10/23/17
the biggest advantage of 401Ks is that it highly motivates T...
stirring antidepressant drug
  10/23/17
Cr
magical crotch
  10/24/17


Poast new message in this thread



Reply Favorite

Date: October 23rd, 2017 8:03 AM
Author: startled orange resort international law enforcement agency

https://mobile.twitter.com/realDonaldTrump/status/922428118685581313

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34507906)



Reply Favorite

Date: October 23rd, 2017 8:21 AM
Author: Ivory hairraiser giraffe

Told u fags this was fake news

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34507949)



Reply Favorite

Date: October 23rd, 2017 2:36 PM
Author: stirring antidepressant drug



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34510079)



Reply Favorite

Date: October 23rd, 2017 8:22 AM
Author: Tan Galvanic Mad-dog Skullcap Parlor

401ks are a huge scam, possibly the biggest scam perpetrated on Americans today

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34507953)



Reply Favorite

Date: October 23rd, 2017 8:23 AM
Author: Ivory hairraiser giraffe

Go on

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34507956)



Reply Favorite

Date: October 23rd, 2017 11:10 AM
Author: Tan Galvanic Mad-dog Skullcap Parlor

It's like this: You're ten years old. Your uncle gives you a hundred dollar bill for birthday. Your (((mom))) takes it for "safekeeping." You never see it again.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508658)



Reply Favorite

Date: October 23rd, 2017 11:12 AM
Author: Naked nibblets

sad!

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508666)



Reply Favorite

Date: October 23rd, 2017 11:32 AM
Author: snowy arousing persian



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508781)



Reply Favorite

Date: October 23rd, 2017 11:48 AM
Author: Cerebral pontificating stain

just checked my 401K balance. $ is still there.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508869)



Reply Favorite

Date: October 23rd, 2017 12:29 PM
Author: Tan Galvanic Mad-dog Skullcap Parlor

try asking to have it and see what they say

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509112)



Reply Favorite

Date: October 23rd, 2017 12:38 PM
Author: Cerebral pontificating stain

pretty sure I would just have to pay taxes on it and some bullshit 10% penalty

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509174)



Reply Favorite

Date: October 23rd, 2017 12:41 PM
Author: Tan Galvanic Mad-dog Skullcap Parlor

("pretty sure" guy who hasn't looked into the fine print)

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509189)



Reply Favorite

Date: October 23rd, 2017 12:44 PM
Author: Cerebral pontificating stain

but i bet you have, mr smart guy!

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509202)



Reply Favorite

Date: October 23rd, 2017 1:11 PM
Author: Insanely creepy church building foreskin

just asked my (((mom))), she said it's still there

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509383)



Reply Favorite

Date: October 23rd, 2017 11:54 AM
Author: Frisky Gaming Laptop Sweet Tailpipe

This literally happened to me. Except the roles were reversed. My mom and other relatives gave me money for birthdays and other holidays. My (((uncle))) takes it for safekeeping and I have never seen that money again. LJL.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508905)



Reply Favorite

Date: October 23rd, 2017 12:02 PM
Author: Charcoal Institution

My sister-in-law takes all of the gift cards we all give my nephew for birthdays and holidays and uses them the next year for Christmas gifts for him.

I wouldn't mind buying a gift, but she never tells me what he wants. I think it's so she gets to buy the fun stuff for him with our money and it's like it comes from her.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508945)



Reply Favorite

Date: October 23rd, 2017 12:19 PM
Author: snowy arousing persian

you: giving your nephew gift cards

wtf is wrong with you

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509040)



Reply Favorite

Date: October 23rd, 2017 12:31 PM
Author: Charcoal Institution

I have no idea what to fucking give him. I live 1,200 miles away and she won't tell me what he wants or already has.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509130)



Reply Favorite

Date: October 23rd, 2017 12:22 PM
Author: vivacious bistre striped hyena karate

Nah it's actually pretty great if you have impulse control and the mental ability, foresight, and discipline to save. People that complain about "government taking it" have no clue what they are talking about.

401k's eliminate costly capital gains taxes and will give you a most likely lower tax rate. Even if the tax rate isn't lower, the capital gains savings are big enough that anyone should max it out if they have enough. Worst case if you need it then you pay a 10% penalty.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509060)



Reply Favorite

Date: October 23rd, 2017 12:28 PM
Author: Tan Galvanic Mad-dog Skullcap Parlor

Good day to you Mr. Goldstein

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509109)



Reply Favorite

Date: October 23rd, 2017 12:31 PM
Author: vivacious bistre striped hyena karate

Look at it this way. In 35 years, there's a good chance youll be paying more in capital gains taxes from your regular account investments than I will in "income tax" from my 401k in the 10% or whatever tax bracket. And that's after you already paid taxes on yours and I haven't.

pwned

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509129)



Reply Favorite

Date: October 23rd, 2017 12:32 PM
Author: Tan Galvanic Mad-dog Skullcap Parlor

tell me more about what there is a good chance of in 35 years

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509133)



Reply Favorite

Date: October 23rd, 2017 12:36 PM
Author: saffron irradiated depressive cruise ship

Seriously. Just lol

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509161)



Reply Favorite

Date: October 23rd, 2017 12:40 PM
Author: vivacious bistre striped hyena karate

Are you not doing the same? Predicting policy changes? What you are doing is less reasonable actually.

Under the current rules, there are huge advantages to 401ks for people making above $100k or so a year (person not household)

It'll require pretty large rule changes that would have to overcome large, heated opposition to alter that.

And even if that happened, at worst you are probably put in same position as if you hadn't put it in 401k.

It is highly unlikely that putting it in 401k would end up costing you money, unless you are a prole that can't handle savings and need to take it out.

Are you a prole with no impulse control, brother?



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509182)



Reply Favorite

Date: October 23rd, 2017 12:42 PM
Author: Tan Galvanic Mad-dog Skullcap Parlor

I have 100k liquid from working two jobs as a 3rd year law student. So definitely prole but the impulse control thing is debatable

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509193)



Reply Favorite

Date: October 23rd, 2017 12:50 PM
Author: vivacious bistre striped hyena karate

Okay, well your situation shouldn't be applied to everyone. There are definitely benefits to a lot of people and you'll understand one day.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509242)



Reply Favorite

Date: October 23rd, 2017 2:24 PM
Author: Talking alpha jap

lol

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509964)



Reply Favorite

Date: October 23rd, 2017 8:24 AM
Author: Motley Drab Ceo



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34507961)



Reply Favorite

Date: October 23rd, 2017 10:31 AM
Author: turquoise ungodly corner



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508498)



Reply Favorite

Date: October 23rd, 2017 10:32 AM
Author: bright soul-stirring office hunting ground

*LathamTouchedMe seething, donating $27 to pro-immigration causes*

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508506)



Reply Favorite

Date: October 23rd, 2017 10:47 AM
Author: hyperventilating dashing location



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508554)



Reply Favorite

Date: October 23rd, 2017 12:37 PM
Author: saffron irradiated depressive cruise ship



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509166)



Reply Favorite

Date: October 23rd, 2017 11:52 PM
Author: pale concupiscible hairy legs temple



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34514520)



Reply Favorite

Date: October 23rd, 2017 10:40 AM
Author: Brindle Fragrant Public Bath Sound Barrier

Xo Trump

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508526)



Reply Favorite

Date: October 23rd, 2017 10:43 AM
Author: 180 macaca

lol at trumpmos cheering trump's "decision" to keep 401ks

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508534)



Reply Favorite

Date: October 23rd, 2017 11:06 AM
Author: bateful twinkling elastic band

lol, credited. Like the GOP isn't hunting for anything to sneak by us to get their shit tax cuts past the Byrd rule. Also, I've seen Trump's pronouncements on healthcare. I could see him arguing in the future that the "Rothification" of 401k's is not a change at all.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508629)



Reply Favorite

Date: October 23rd, 2017 11:08 AM
Author: Naked nibblets

I disagree vehemently with Trump's decision but both of you spent all Friday crowing about how Trump was axing 401ks. u've been gaped

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508648)



Reply Favorite

Date: October 23rd, 2017 11:12 AM
Author: bateful twinkling elastic band

No, I said it would never fly once light were shed on it. Face it, Trump's tax plan is garbage and will ultimately have to be paid for with tax increases on certain umc people. That's the fundamental problem here. If it's not a change in 401k policy, it will be something else.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508670)



Reply Favorite

Date: October 23rd, 2017 11:14 AM
Author: Naked nibblets

*gaped*

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508676)



Reply Favorite

Date: October 23rd, 2017 11:21 AM
Author: bateful twinkling elastic band

Look if Trump actually offered a tax plan that was even mildly populist I would be behind it 100%. The outline the administration released is standard conservative garbage that Trumpmos on this board should be shouting down. It will require reconciliation, which means it will have to be paid for through increased revenues from umc and middle-class taxpayers.

My hope is that the GOP efforts end up like the AHCA and Trump then starts making serious efforts to lead a bipartisan effort. The problem is that Trump hasn't even shown a willingness to back the Lamar Alexander/Murray bipartisan healthcare bill. He seems dead set on governing as a standard issue conservative.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508717)



Reply Favorite

Date: October 23rd, 2017 11:49 AM
Author: 180 macaca

Gaped because I said it was a bad idea and apparently Trump agrees with me?

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508878)



Reply Favorite

Date: October 24th, 2017 9:09 AM
Author: Naked nibblets

I was just starting a conversation!

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34516282)



Reply Favorite

Date: October 23rd, 2017 12:33 PM
Author: Ivory hairraiser giraffe

protip: 401(k) contributions were never on the chopping block. this was a flame meme pushed by libs and the MSM.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509142)



Reply Favorite

Date: October 23rd, 2017 10:56 AM
Author: sienna dysfunction

sad. nevertrumpers and shitlibs were having a great time in that other thread jerking each other off.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508585)



Reply Favorite

Date: October 23rd, 2017 11:13 AM
Author: Comical Vermilion Mood Electric Furnace

I'm sure they'll show up itt to cheer for Trump

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508673)



Reply Favorite

Date: October 23rd, 2017 11:52 AM
Author: burgundy rehab puppy

401Ks are a bet your future tax rates will be lower than current tax rates. For some people that's a good bet, others, less so. You'll be forced to withdraw x amount every month starting at 70.5 so tax planning has limitations.

401Ks make you feel richer than you are. People tend to count it in their heads as 100% of account value but really they should count it as 100% less expected effective tax rate at withdrawal of its value. So really, in a bad future tax scenario, your 401K is actually worth 50% of account value.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508895)



Reply Favorite

Date: October 23rd, 2017 11:55 AM
Author: bright soul-stirring office hunting ground

bingo, though growth tax free is nice

the biggest benefit to a 401(k) is an employer match. everyone should always contribute to obtain the full match.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508910)



Reply Favorite

Date: October 23rd, 2017 11:57 AM
Author: burgundy rehab puppy

yea

401K match gave companies cover to get rid of defined benefits though but then those are worthless if you can't stay 10 years+ so it's a wash.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508919)



Reply Favorite

Date: October 23rd, 2017 11:59 AM
Author: sienna dysfunction

what would be a scenario in which someone has a higher tax rate at age 71?

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508923)



Reply Favorite

Date: October 23rd, 2017 12:00 PM
Author: burgundy rehab puppy

We don't know future tax rates.

Lots of say 150K or less 2 kid families (most households) have pretty low current tax though so the benefit of a 401K is really overblown for them. They're taking on future tax policy risk.

It makes sense for all the xo pumos making 500K+ since their marginal rate is just so damn high, unless this country really goes to shit.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508930)



Reply Favorite

Date: October 23rd, 2017 12:18 PM
Author: bateful twinkling elastic band

If you're contributing from a young age, the savings from no taxation on your gains could mean that you still save even if your tax rate is higher at retirement. Using a roth IRA (or backdoor roth if necessary) to balance out the regular 401k is a good idea to cover either tax scenario.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509034)



Reply Favorite

Date: October 23rd, 2017 12:21 PM
Author: burgundy rehab puppy

sorry (lol law board) but 100 dollars growing for 10% for 30 years then taxed at 35% is the same thing as 65 dollars growing at 10% for 30 years then not taxed.

401k is a pure tax arb

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509050)



Reply Favorite

Date: October 23rd, 2017 12:24 PM
Author: Talented National

Gains are taxed at 15-23.8% long term cap gains rate in 2nd scenario though.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509076)



Reply Favorite

Date: October 23rd, 2017 12:26 PM
Author: burgundy rehab puppy

You don't know future cap gains rate. And it's not favorable if your not that high income to start with even with current rates. It's a pure tax bet.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509087)



Reply Favorite

Date: October 23rd, 2017 12:27 PM
Author: Talented National

It won’t for 0, that’s for sure.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509100)



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Date: October 23rd, 2017 12:33 PM
Author: burgundy rehab puppy

401(k) Withdrawals Are Income

When you take withdrawals from your 401(k) account, that money becomes regular taxable income to you. You report retirement plan payments on your taxes as income and not as investment gains or investment income. Withdrawing from your 401(k) in retirement produces the same type of taxable income as earning a salary or wages when you were working. Any and all money you take from your 401(k) account must be reported as income for the year of withdrawal. If you take money from your 401(k) before age 59 1/2, an extra 10 percent tax penalty will apply.

Are u sure? Sounds like all withdrawal is taxed as ordinary income.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509143)



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Date: October 23rd, 2017 12:44 PM
Author: bateful twinkling elastic band

You were incorrect in your second scenario. Your $65 gets invested and then you get taxed AGAIN each year for any of the capital gains and dividends you make on the investment (15% or 23.8% depending on bracket). That's what you are missing.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509206)



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Date: October 23rd, 2017 12:52 PM
Author: 180 macaca

unrealized gains are taxed?

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509262)



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Date: October 23rd, 2017 12:55 PM
Author: bateful twinkling elastic band

No, but there are sometimes capital gains in mutual funds that are generated each year (the fund sells some stock). Those are usually pretty small though. And there are dividends too. Then there are the capital gains when you actually sell the security. Gunt didn't add any of that into the example she used.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509280)



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Date: October 23rd, 2017 12:46 PM
Author: Talented National

401k withdrawals are taxed as regular income, yes.

But your 2nd scenario is where you’ve already been taxed and then invest the rest for a 10% gain. The gain will be taxed at long term cap gain rates.

That needs to be taken into account. You cant say that the value of your 401k is only 60-70% if its value, but then ignore that all your non 401k investments (other than $500k gains on your primary residence) will also be taxed upon withdrawal.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509220)



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Date: October 23rd, 2017 12:50 PM
Author: burgundy rehab puppy

OK but it was just to illustrate it's a pure tax arbitrage not that you won't pay tax on brokerage acct withdrawals

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509241)



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Date: October 23rd, 2017 12:52 PM
Author: vivacious bistre striped hyena karate

But it's not pure tax arbitrage. You don't pay capital gains taxes. That's just tax avoidance.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509258)



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Date: October 23rd, 2017 12:56 PM
Author: burgundy rehab puppy

It's tax avoidance only if your correctly guess your current ordinary income rates are lower than your future ordinary income rates with some room for fudge error because of the capital gains issue.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509293)



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Date: October 23rd, 2017 12:59 PM
Author: bateful twinkling elastic band

"with some room for fudge error because of the capital gains issue."

It's not a "fudge error", especially if you've been investing 40+ years.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509316)



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Date: October 23rd, 2017 1:07 PM
Author: burgundy rehab puppy

You have more control over when to take gains than 401k withdrawals. And most people's contributions weigh later in life than earlier in life. You need to correct call future income and capital gains tax rates to definitely determine benefits. It's a lot less than most people imagine and you lose a lot of flexibility during deferral and withdrawal.

Alternative isn't just brokerage accounts for average Americans. Lots of people may be better off in Roths. Even then, a retired couples would 75K+ in taxable income to start paying capital gains. You can selectively withdraw down to avoid it with brokerage accounts.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509356)



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Date: October 23rd, 2017 1:15 PM
Author: bateful twinkling elastic band

The point about using Roth 401k or IRA is fair. Given the uncertainty, I think it's best to use both, although most employers don't offer a roth 401k.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509399)



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Date: October 23rd, 2017 1:26 PM
Author: vivacious bistre striped hyena karate

WHY DO YOU KEEP IGNORING THE CAPITAL GAINS

THERE ARE TWO DISTINCT ADVANTAGES:

TAX ARBITRAGE

AVOIDANCE OF CAPITAL GAINS.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509465)



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Date: October 23rd, 2017 1:41 PM
Author: burgundy rehab puppy

I didn't get that you want to assume everything is contributed to an ordinary brokerage account instead vs. something with similar limitations. That's why I initially thought you guys meant 401k gains get capital tax treatment.

There's hard to capture value in the long term flexibility of an ordinary brokerage account. And more things to have done with money besides that if you unlimit yourself to retirement accounts.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509556)



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Date: October 23rd, 2017 2:23 PM
Author: vivacious bistre striped hyena karate

You sound really ignorant on this stuff man. You fail to grasp basic concepts then later dodge the point.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509960)



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Date: October 23rd, 2017 12:42 PM
Author: aromatic startling set

??? roth gains aren't taxed

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509197)



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Date: October 23rd, 2017 2:25 PM
Author: vivacious bistre striped hyena karate

It's 401k vs regular not 401k vs roth

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509971)



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Date: October 23rd, 2017 12:27 PM
Author: excitant bespoke prole

You need to tax the interest in the second scenario.

lol law bort.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509094)



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Date: October 23rd, 2017 12:41 PM
Author: burgundy rehab puppy

Withdrawals from your 401(k) do not qualify for capital gain tax breaks when you start to take them out at retirement, so you can’t pay the capital gains rate. However, keep in mind that they are wonderful ways to save for your retirement, as they have the benefit of tax-deferred growth over the years until you retire.

Lol lawyers



(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509192)



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Date: October 23rd, 2017 2:22 PM
Author: vivacious bistre striped hyena karate

Lmao how fucking dumb are you? "Fail to qualify for capital gain tax breaks"? Wtf? You don't pay capital gains taxes idiot

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509953)



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Date: October 23rd, 2017 12:30 PM
Author: vivacious bistre striped hyena karate

It is hilarious how people think that the benefit of 401ks is the "tax deferred growth". LMAO.

This is forcememed by everyone including media. Not many people understand your example.

But everyone forgets about no capital gains taxes.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509118)



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Date: October 23rd, 2017 12:40 PM
Author: sienna dysfunction

Wtf should i be doing then? Just contributing up to my employer match and the rest in regular investments?

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509183)



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Date: October 23rd, 2017 12:50 PM
Author: vivacious bistre striped hyena karate

No - contribute as much as you can. 401ks are great. I'm just saying the reason people usually think this is misguided.

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509245)



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Date: October 23rd, 2017 12:48 PM
Author: Cerebral pontificating stain

you should probably let your husband handle your finances

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509229)



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Date: October 23rd, 2017 12:49 PM
Author: burgundy rehab puppy

Lol sorry all withdrawals r taxed as ordinary income

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509234)



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Date: October 23rd, 2017 12:28 PM
Author: vivacious bistre striped hyena karate

are you not forgetting capital gains taxes you don't have to pay?

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509105)



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Date: October 23rd, 2017 11:59 AM
Author: Misanthropic Address Scourge Upon The Earth

He also said on twitter that we would be guaranteed to have better Trumpcare by end of summer so...

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508924)



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Date: October 23rd, 2017 12:01 PM
Author: floppy demanding pocket flask

*Bizzarro Trump vetoing first legislative accomplishment because it hurts 401ks*

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34508939)



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Date: October 23rd, 2017 1:10 PM
Author: flatulent psychic marketing idea

None of this matters when Kamal Harris taxes the shit out of 401ks (its a thinly veiled White Tax)

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34509373)



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Date: October 23rd, 2017 2:31 PM
Author: stirring antidepressant drug

the biggest advantage of 401Ks is that it highly motivates TTT Americans who would gladly buy a new 4K TV or stretch their car budget instead of saving anything. By making it tax exempt and helping them save 1000s of dollars in taxes upfront it convinces them to put their money away

if there is no 401K and only IRA people wouldnt save as much and some would put in nothing at all

also at the end of the day for 95% of people its a good deal since its very unlikely they will have a higher tax rate at 65 than their peak earning years

its one of the few things that our tax system does well. its much better than the mortgage interest deduction or state tax deduction for sure. I would get rid of those two first before even thinking of 401k

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34510028)



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Date: October 24th, 2017 9:26 AM
Author: magical crotch

Cr

(http://www.autoadmit.com/thread.php?thread_id=3772213&forum_id=2#34516399)