tag:blogger.com,1999:blog-14245531.post114006011363717856..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Tonight's TidbitsMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-14245531.post-1140142405658553292006-02-16T21:13:00.000-05:002006-02-16T21:13:00.000-05:00Josh and anon, yes, I do try to max out both 401k ...Josh and anon, <BR/>yes, I do try to max out both 401k and Roth IRA contributions, at least I have succeeded in doing that the last few years. Aside from the tax implications, I just see it as a discipline thing, a very tangible goal to strive for in saving money that I won't then be tempted to withdraw and spend.<BR/>And Anon, thank you very much! Not only for saying I am on the path to wealth, but for calling me young, as I am already old enough to start considering that a compliment, even if you have no idea what I look like!Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1140134057541400392006-02-16T18:54:00.000-05:002006-02-16T18:54:00.000-05:00For a young person, it seems 401(k) and Roth are b...For a young person, it seems 401(k) and Roth are both gambles. Who knows what the laws will be in 30 years from now?! Don't be surprised if some time, 15 years from now or later, they find some sneaky way to actually tax Roth withdrawals. And don't be surprised if your Social Security payments end up being indexed based on how much savings you have in your 401(k).<BR/><BR/>For a young person, think about the concept of <I>diversification of tax consequences</I>. This could mean saving as much as you can in Roth, some in 401(k), and some in regular after-tax investments. And if you've saved well and responsibly your whole life, make peace with the fact that less responsible folks with the same incomes who did not save may end up with higher social security payments than you do.<BR/><BR/>Depressing? Yeah, kind of. But you are clearly on the path to great wealth regardless of what changes in law the future holds.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1140132011447121802006-02-16T18:20:00.000-05:002006-02-16T18:20:00.000-05:00It's intereting to me that you'd fund the 401(k) b...It's intereting to me that you'd fund the 401(k) beyond the match. The match really makes up for a multitude of sins. Without the match, a 401(k) is a long-only bet that your personal tax rate will be lower when you withdraw than it is now. THe long-term financial projections for our economy would appear to argue the opposite. Do you fund a roth ira? That's just the opposite bet.<BR/><BR/>JoshAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1140107102298799972006-02-16T11:25:00.000-05:002006-02-16T11:25:00.000-05:00Good on ya for deciding to dump GM! Since I know ...Good on ya for deciding to dump GM! Since I know squat about investing (I mean, just look at my bloopers!) I felt unqualified to comment...but anonymous put it really well, I will have to remember thatCaitlinhttps://www.blogger.com/profile/07099173870125319819noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1140070943503844142006-02-16T01:22:00.000-05:002006-02-16T01:22:00.000-05:00Last month, I went to a Barnes and Noble where I b...Last month, I went to a Barnes and Noble where I bought a book with my frequent shopper "member" card. Funny thing is, I was suppose to get a 10% discount on top of the discount that was already on the book. I noticed on my credit card bill that I not only paid normal price for the book, there was a second (debit) transaction that was exactly 10% of the cost of the book! :-(<BR/><BR/>Maybe your purchases didn't qualify for a discount anyway? :-) Gotta think positive!Splathttps://www.blogger.com/profile/07322202057874733478noreply@blogger.com