Recruiting Forum Off-Topic Thread II

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#3,126
#3,126
tonybologna said:
Gotcha. We never played you'll in sports back then though. I doubt North has played Cherokee much at all in any sports through the years.

Maybe we did in tennis one year but I can't remember. I played basketball, baseball, football, tennis, & track.
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Gonna have to check your high school yearbook to verify. Quite the versatile athlete!
 
#3,127
#3,127
#1Volfaninmo said:
Hey passedoutawake, any recommendation for a VB reasonable but nice place to stay in PCB?
TIA
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not sure. everywhere changes their prices depending on the season and business. spring break, most places are like 2500 a week. but in the offseason, those same places could be 400 a week. so youll just have to look around. right now theres a lot of people in town.
 
#3,128
#3,128
PassedOutAwake said:
not sure. everywhere changes their prices depending on the season and business. spring break, most places are like 2500 a week. but in the offseason, those same places could be 400 a week. so youll just have to look around. right now theres a lot of people in town.
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Looking at first week of October. Thanks.
 
#3,129
#3,129
Im going to sanibel island over thansgiving. I got my place months ago and it still wasnt very cheap about 1500/week.
 
#3,130
#3,130
avolation said:
Wow, when did you have time for class? Haha
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A lot of people played multiple sports back in the day. Keep in mind there was no fascination with video games or social media that absorbs a lot of time. Besides, other than some tests and the occasional research paper, you could get most of your work done in high school before you went home. Played football, basketball, wrestled, and boxed through high school. Even picked up tennis my senior year. There's something to be said about a time with less technology.
 
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#3,132
#3,132
For the financially savvy users here. Should I rollover a low balance 401k from a side job to another 401k, a traditional IRA, or a RothIRA. I'm also 31 years old.
 
#3,133
#3,133
Dust10 said:
For the financially savvy users here. Should I rollover a low balance 401k from a side job to another 401k, a traditional IRA, or a RothIRA. I'm also 31 years old.
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Roll it over too me I'll show you how to make some real money. Put it all on black one roll and double up.
 
#3,134
#3,134
Dust10 said:
For the financially savvy users here. Should I rollover a low balance 401k from a side job to another 401k, a traditional IRA, or a RothIRA. I'm also 31 years old.
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You really need to look at the tax implications, fund options and prices. Not an easy answer without all the info.
 
#3,136
#3,136
yeah I take it its a cottage right on the beach! Flying direct from Knoxville to Punta Gorda airport on Allegiant(yikes!) I also wanna go check out Cabbage Key it looks really cool.
 
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#3,137
#3,137
Smokey49 said:
You really need to look at the tax implications, fund options and prices. Not an easy answer without all the info.
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To me it seems like the best options are RothIRA and pay the taxes now rather than later or current employer 401k. But I wanted to see if others had a different perspective.
 
#3,138
#3,138
Dust10 said:
For the financially savvy users here. Should I rollover a low balance 401k from a side job to another 401k, a traditional IRA, or a RothIRA. I'm also 31 years old.
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Assuming you qualify - I am a big fan of the Roth IRA. But in some cases rolling into another 401k makes more sense. If you think you might need access to some or all of the money before retirement age, the 401k may make the most sense as there are qualifying reasons you can make early withdrawals without penalty, which cannot be done with IRA's. The "buying power" of a 401k may be better for investment choices you have access to compared to going with self directed IRA access.

You weigh that versus the Roth advantages of paying a small tax at the 401k rollover; then having everything it and any future contributions make as a return growing tax free along with the distributions you begin taking at retirement age.

An example on the Roth. I am double your age. I rolled a 401k balance into an existing traditional IRA at retirement. As my income dropped below the max threshold, I converted it into a Roth and paid the federal taxes due on the combined accounts out of available liquidity, which is better than taking part of the investment and using it to pay the taxes since you lose some of the benefit. I was fortunate in that there was a period around 2010 and 2011 you could do this regardless of personal income limitations for conversion and could pay the taxes due over a two year period. That Roth has since doubled in value. No taxes will ever be due on it when I begin taking distributions. There is also an added advantage that if you die, your heir(s) will not have to pay any taxes on it either as long as it has been in existence for at least 5 years. There are no required minimum distributions (RWD's) with a Roth when you hit retirement age. You can take all, part or none based on personal circumstances.

Since it is a low balance, I would pick one of those two depending on your personal circumstances.
 
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#3,139
#3,139
Dust10 said:
For the financially savvy users here. Should I rollover a low balance 401k from a side job to another 401k, a traditional IRA, or a RothIRA. I'm also 31 years old.
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I am working on my MBA in Personal Financial Planning. Without knowing anything else I would recommend the Roth because of the tax free growth capability. If you qualify for a Roth it is usually best to max it out each year and if you still have funds to invest you can go with a traditional IRA or other vehicle of your choosing. There is certainly more to it than that but like I said, with just the few details I would recommend the Roth.
 
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#3,140
#3,140
Vols4us said:
Assuming you qualify - I am a big fan of the Roth IRA. But in some cases rolling into another 401k makes more sense. If you think you might need access to some or all of the money before retirement age, the 401k may make the most sense as there are qualifying reasons you can make early withdrawals without penalty, which cannot be done with IRA's. The "buying power" of a 401k may be better for investment choices you have access to compared to going with self directed IRA access.

You weigh that versus the Roth advantages of paying a small tax at the 401k rollover; then having everything it and any future contributions make as a return growing tax free along with the distributions you begin taking at retirement age.

An example on the Roth. I am double your age. I rolled a 401k balance into an existing traditional IRA at retirement. As my income dropped below the max threshold, I converted it into a Roth and paid the federal taxes due on the combined accounts out of available liquidity, which is better than taking part of the investment and using it to pay the taxes since you lose some of the benefit. I was fortunate in that there was a period around 2010 and 2011 you could do this regardless of personal income limitations for conversion and could pay the taxes due over a two year period. That Roth has since doubled in value. No taxes will ever be due on it when I begin taking distributions. There is also an added advantage that if you die, your heir(s) will not have to pay any taxes on it either as long as it has been in existence for at least 5 years. There are no required minimum distributions (RWD's) with a Roth when you hit retirement age. You can take all, part or none based on personal circumstances.

Since it is a low balance, I would pick one of those two depending on your personal circumstances.
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I agree. Also, a good financial advisor would be able to sit down and analyze your entire financial situation and recommend the best course of action.
 
#3,141
#3,141
glichtenwalter said:
I am working on my MBA in Personal Financial Planning. Without knowing anything else I would recommend the Roth because of the tax free growth capability. If you qualify for a Roth it is usually best to max it out each year and if you still have funds to invest you can go with a traditional IRA or other vehicle of your choosing. There is certainly more to it than that but like I said, with just the few details I would recommend the Roth.
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Hey glitch, I'm starting to look at getting my MBA in with a concentration in finance. Where are you getting yours from?
 
#3,142
#3,142
Thanks everyone. I'm leaning towards going with the Roth since I'm not planning on touching it till retirement. I was wondering if it would compound faster if I rolled it into another 401k, but then that's just more taxes to pay later. So, it seems like the better idea would be to take the tax hit now, start a Roth, and start putting funds into that.
 
#3,143
#3,143
glichtenwalter said:
I am working on my MBA in Personal Financial Planning. Without knowing anything else I would recommend the Roth because of the tax free growth capability. If you qualify for a Roth it is usually best to max it out each year and if you still have funds to invest you can go with a traditional IRA or other vehicle of your choosing. There is certainly more to it than that but like I said, with just the few details I would recommend the Roth.
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#3,144
#3,144
KokoBVol said:
Hey glitch, I'm starting to look at getting my MBA in with a concentration in finance. Where are you getting yours from?
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Indiana Wesleyan University. I am doing it all online and they didn't require the GMAT or other entrance exam.
 
#3,145
#3,145
Dust10 said:
Thanks everyone. I'm leaning towards going with the Roth since I'm not planning on touching it till retirement. I was wondering if it would compound faster if I rolled it into another 401k, but then that's just more taxes to pay later. So, it seems like the better idea would be to take the tax hit now, start a Roth, and start putting funds into that.
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If your employer has a matching program that would be my first spot to invest in (you can't beat free money). Roth second and then others vehicles after that.
 
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