Talking stocks, trading, and investing in general

[Omega Male]

$143 is baller money.

 

[beargonefishing]

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4,722 USD is f-u money.

 

[Omega Male]

 

[jbarwick]

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Do you really have a BB terminal or mooch off someones license?

The biggest surprise in our house has not been market returns but somehow my wife's startup has found a way to make money. They were set to run out of money by Christmas to start the year and now they have a few years of cash. I squirrelled away as much as I could and even after the Porsche purchase, still managed to save about 35% gross income this year.

 

[Piobaire]

That's some damn good savings! Keep that up and you'll be retired by 50.

 

[imatlas]

I decided to make after-tax contributions to my 401K to use the "Roth Backdoor" approach. Which is great, but I think I have to figure out how much those funds have grown and transfer that as well, which is less great.

Can I just use an overall approach, like "this total portfolio has increased by 15%"?

 

[double00]

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wtf is moneyness

 

[Omega Male]

wtf is moneyness

Moneyness - Wikipedia

en.m.wikipedia.org

 

[RedLantern]

wtf is moneyness

They do a pretty good job of explaining it here:

 

[brokencycle]

I decided to make after-tax contributions to my 401K to use the "Roth Backdoor" approach. Which is great, but I think I have to figure out how much those funds have grown and transfer that as well, which is less great.

Can I just use an overall approach, like "this total portfolio has increased by 15%"?

My employer's plan sets it up so that when I do post-tax, it automatically moves that money into a Roth 401k and thus there are no gains.

 

[gettoasty]

@imatlas

Your plan offers three buckets?
- pretax
- roth
- after tax

Maybe on your statement it’ll show more like employer match pretax, profit sharing, etc., too.

If you’re trying to then move the after tax to a Roth IRA held away, I would think you can request it through the current 401k provider. I’m not sure why you’d have to track any gains if going directly to a Roth. I feel like I’ve done that before or seen someone do it and it seemed straightforward enough. The caveat is unsure about their tax return the following year, but I feel like I would’ve heard some commotion if there was tax liability.

Maybe I’m misunderstanding you 🙈

Edit:
What @brokencycle mentioned is correct too provided that’s how the 401k was adopted. YMMV You would think all 401ks would be the same but..

 

[venividivicibj]

My employer's plan sets it up so that when I do post-tax, it automatically moves that money into a Roth 401k and thus there are no gains.

For my plan, I had to call (Fidelity in my case) so they would auto-route all 'post-tax' contributions to be converted to be mega-backdoored the same day they were contributed (so no 'gains')

 

[imatlas]

For my plan, I had to call (Fidelity in my case) so they would auto-route all 'post-tax' contributions to be converted to be mega-backdoored the same day they were contributed (so no 'gains')

I think this is what I need to do.

 

[PhilKenSebben]

I can't tell if this is good news for @Piobaire because he is a boomer, or bad news for @Piobaire because he insists he isn't a boomer....

Older boomers won the pandemic after becoming a whopping $14 trillion richer, Fed data reveals—and Gen X is losing the race

The famously economically beleaguered millennial generation ran really hard just to stay in place, according to Fed data.

www.yahoo.com

 

[brokencycle]

I can't tell if this is good news for @Piobaire because he is a boomer, or bad news for @Piobaire because he insists he isn't a boomer....

Older boomers won the pandemic after becoming a whopping $14 trillion richer, Fed data reveals—and Gen X is losing the race

The famously economically beleaguered millennial generation ran really hard just to stay in place, according to Fed data.

www.yahoo.com

Stock market up significantly. Oldest people most likely to have money in market and thus most likely to have gains.

Shocking.