Recruiting Forum Football Talk IV

[hondac]

Regarding parity, why not cut the scholarships for the national champion from
25 to 20 year 1, and 25 to 22 year 2. Maybe allow teams outside the top 30 to
sign a few extra above the 25.

 

[Ulysees E. McGill]

Is it not weird Harrison Bailey has yet to transfer anywhere? His Market value not what he expected?

It is weird.

 

[MoCo_Vol]

I have my CHFC and here’s my advice for just about anyone:

1. Create a money plan and learn to live below your income (not a budget, people hate budgets)
2. Start an emergency fund with at least 1-2 months expenses and make sure you have a good insurance plan (auto, home/renter, liability, life, disability)
3. Take any company matching retirement benefit but not a penny more than the match.
4. Pay down all debt except for real estate.
5. Contribute to a Roth IRA.
6. Once you are maxing a Roth ($6k/yr unless you qualify for the catch-up) get your emergency savings to 3-6 months.
7. Invest in something you find interesting that appreciates in value or brings in passive income (real estate, mutual funds, etc)

I'd probably add in to use a HSA if eligible. You can contribute $3600 (individual) or $7200 (family) into that each year and also invest those funds. You can use this to pay for health expenses including dental.

I had one from a previous employer and still contribute to it when possible. Just had a surgery in November and was almost able to pay for everything, I wanted to leave some still invested though.

 

[GVol1966]

I hope everyone else gets wide eyes and chases those guys. Our answer is in my avi.

Mario Williams, Plant City! My wife’s HS

 

[voltn21]

Regarding parity, why not cut the scholarships for the national champion from
25 to 20 year 1, and 25 to 22 year 2. Maybe allow teams outside the top 30 to
sign a few extra above the 25.

With the NIL you’d probably have 5* walkons at the top schools and the NIL would cover the school cost. There’s a lot of ways around things with the NIL deals.

 

[Ulysees E. McGill]

Ole Miss in shambles.

Ain’t Karma a nasty beyatch...lol

 

[GVol1966]

It is weird.

Really? Maybe he needed more time, should of quit before the season started I guess

 

[butchna]

Ain’t Karma a nasty beyatch...lol

When the poacher gets poached.

 

[MoCo_Vol]

I contribute to a ROTH TSP and my limit is now 20,500.

So a Roth TSP is closer to a 401k.

Roth is a term used in different levels of investing, the difference here is between a TSP & IRA. And all IRAs are limited to a 6k a year (for 2021) contribution. Last I looked into the "why" it was basically because only employers can offer 401k or TSP and anyone can setup a personal IRA.

Also one reason IRAs have a lower contribution limit is they have a much wider range of stocks/funds to invest in available. Usually TSPs & 401ks have limited mutual/index fund options for you to pick from.

 

[pierce60]

I’m almost a bigger LFC fan than a Vol fan nowadays, which is really a result of CFB apathy. Unfortunately I have not had a chance to get over to Anfield since 2019, but I’m hoping to get back next season.

West Ham United fan here. COYI!!

 

[MVPolice]

I hate the recruiting dead period.

 

[Smokey X]

I have my CHFC and here’s my advice for just about anyone:

1. Create a money plan and learn to live below your income (not a budget, people hate budgets)
2. Start an emergency fund with at least 1-2 months expenses and make sure you have a good insurance plan (auto, home/renter, liability, life, disability)
3. Take any company matching retirement benefit but not a penny more than the match.
4. Pay down all debt except for real estate.
5. Contribute to a Roth IRA.
6. Once you are maxing a Roth ($6k/yr unless you qualify for the catch-up) get your emergency savings to 3-6 months.
7. Invest in something you find interesting that appreciates in value or brings in passive income (real estate, mutual funds, etc)

also,
If you have the option to contribute to an HSA account with an employer contribution, then max it out also for your entire working career.....and hope that when you retire you don't have health issues which require you to take "specialty drugs".

 

[Ulysees E. McGill]

OM mods say they could go after Steele as DC. Think Rodney Garner would entertain going since they’re close.

Also said Rodney wants to transition to an off field role.

 

[Bassmaster_Vol]

OM mods say they could go after Steele as DC. Think Rodney Garner would entertain going since they’re close.

Also said Rodney wants to transition to an off field role.

Sure he does... Rodney who has worked at 3 places his entire career, and had long tenures, is suddenly going to go against the grain and leave TN after one year. After telling the VQ guys that he wanted to help bring TN back. Makes sense.

And sure, he moved his family here and came here, and then decided after a year he doesn't want to coach anymore. So he's going to pack up and move to Oxford, where he's never lived, and retire there in an off field role. All of that makes so much sense.

 

[Tennessee Golfer]

I contribute to a ROTH TSP and my limit is now 20,500.

I guess that’s a perk of being a federal employee/military.

 

[VolsnRavens]

West Ham United fan here. COYI!!

AFC Richmond!!

 

[AllVol11717]

“High and mighty” huh? They ended up being a nothing sandwich…not foreboding at all. We all live with our wrong differently. Some admit some project.

And this isn’t acting high and mighty? I admitted I was wrong in the post you’re replying to, yet you can’t ever let go of your signature smugness

 

[TheMookieMonster]

Sure he does... Rodney who has worked at 3 places his entire career, and had long tenures, is suddenly going to go against the grain and leave TN after one year. After telling the VQ guys that he wanted to help bring TN back. Makes sense.

And sure, he moved his family here and came here, and then decided after a year he doesn't want to coach anymore. So he's going to pack up and move to Oxford, where he's never lived, and retire there in an off field role. All of that makes so much sense.

It makes perfect sense when you look at it through the BVS microscope.

 

[Z06VolinWV]

Compared to a regular TSP? Because a Roth is after tax money so the growth and distributions are tax free. Government has to get their greedy little paws on our money somehow. They don’t want too much money growing tax free.

Speaking of taxes, just got off the phone with our business accountant… going to go throw up now!!

 

[TitanicVolz]

I'm just laughing at Hole saying we need to get rid of Hendon Hooker and use his spot on someone else.My God that would have been a catastrophe,Hooker is the sole reason that offense exploded like it did.Just goes to show most us ain't got a effing clue.Were just fans shooting the sh*t,it's just when sh*t gets turned into facts we have problems.

 

[Rishvol]

All this financial stuff has me

 

[Smyrna ATL Vol]

That will probably get shut down soon. Big government can’t have people keeping too much of their own money.

It would crumble this country if they do it. It would be one of the biggest mistakes ever. Less people would save for retirement and that number is already low. Average American retires with basically nothing. Social security is under funded already and this would make people more dependent on it. I hope they don’t do something that stupid. I’m 100% honest when I say this, the government officials that write tax law do not even understand most tax law themselves. It blows my mind when I speak with IRS agents or auditors about tax law and positions taken on tax returns. They have zero clue what they are talking about.

 

[Nash_Vol97]

I’m almost a bigger LFC fan than a Vol fan nowadays, which is really a result of CFB apathy. Unfortunately I have not had a chance to get over to Anfield since 2019, but I’m hoping to get back next season.

Salahs form to start this season has been unreal. He’s always been a top player but this just on a whole other level. Going to be interesting to see how well Liverpool can keep up with him and Sane away at AFCON.

That being said, Up the Chels!

 

[Smyrna ATL Vol]

Speaking of taxes, just got off the phone with our business accountant… going to go throw up now!!

Do you have a SEP? If so, contribute 25% to it and reduce the liability while also taking the deduction at the business level. You can accrue this (whether cash or accrual basis) and take the deduction now and not have to find it until April.

 

[nashvol1]

Back door Roth is when your AGI (gross income) is too high to contribute to a Roth. In order to get the money in there, you contribute money to a traditional IRA and then move the funds to the Roth. You get the traditional IRA deduction and you pick up income for the contribution (net of zero). This allows that contribution to grow tax free instead of being taxed later on down the road.

You pay the taxes now versus later.