Where does the Goldman Sachs money go??
 

"Wayne.B" wrote in message
...
On Mon, 26 Apr 2010 13:40:43 -0700, "Bill McKee"
wrote:

I was just looking for the shares with the most volatility
The preferred stock fit that bill.

Preferred's all over the board are being hit. As the interest rates may
be
suspect.

Preferreds and long bonds will both take a big hit when (not if)
interest rates start to rise. Convertible preferreds offer more
protection on the downside if the underlying common is solid.

I think they already been hit. Got out of most my preferreds a few months
ago.

Where does the Goldman Sachs money go??
 

"Canuck57" wrote in message
...
On 26/04/2010 3:22 PM, wrote:
On Mon, 26 Apr 2010 11:57:25 -0700, "nom=de=plume"
wrote:

wrote in message
...
On Sun, 25 Apr 2010 21:25:42 -0400, Wayne.B
wrote:

On Sun, 25 Apr 2010 21:16:15 -0400, wrote:

My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

I'm probably missing something here but I believe you should be able
to roll over any amount of 401 money into an IRA without any tax
liability.

I would want it out and pay the taxes now before the rates really go
up.
Maybe a Roth but I am thinking I will just run t myself.
One of these days somebody is going to decide the deficit is important
and that tax deferred money is just way too attractive.


There are no tax consequences... you have 60 days to roll it to an IRA.
Withdrawing money from an IRA incurs a tax liability at whatever rate
you're
at. A ROTH is taxed initially, then tax free when you take out the
money.

I am not really interested in a regular IRA. I want to pay my taxes
now and own the money. The Roth really looks the most attractive if I
keep it in a fund..

That might not be a good idea unless you are over 59 1/2 or something.
There are penalties for just hauling it out before that.
--


No penalties if rolling in to a Roth.

Where does the Goldman Sachs money go??
 

On Mon, 26 Apr 2010 18:20:59 -0700, "Bill McKee"
wrote:

Preferreds and long bonds will both take a big hit when (not if)
interest rates start to rise. Convertible preferreds offer more
protection on the downside if the underlying common is solid.

I think they already been hit. Got out of most my preferreds a few months
ago.

They will get worse, quite possibly a lot worse. Back in the early
80s you could buy rock solid preferreds for less than 50% of par value
and yielding close to 15% annually. They all payed off at par
eventually as interest rates came down.

Where does the Goldman Sachs money go??
 

"Bill McKee" wrote in message
m...

"Canuck57" wrote in message
...
On 26/04/2010 12:59 PM, nom=de=plume wrote:
wrote in message
...
On 25/04/2010 11:10 PM, wrote:
On Sun, 25 Apr 2010 21:18:39 -0600,
wrote:

On 25/04/2010 7:16 PM, wrote:
My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

Pray tell what is the $250K mark? Some penalties? And roll it into
what? IRA? Capital gains amount??

If you make over $250k the Obama tax increases really smack you.

Rolling it to a IRA shouldn't be a big deal but my roll over wasn't
over
$250K so I didn't go there. But I don't remember any such limit. The
key
is making sure the money shows up in the IRA promptly.

If you have a tax pre person, this is a 1 minute question, I would ask.
I
suspect you can roll it over without issue.

Also need to consider vesting if some of it isn't yet vested. In which
case just roll over the vested part.

--
Socialism and statism are great as long as someone else pays for it.


Vesting? That only happens if the company does a match of some of the
money.
Some companies have instant vesting of 401K money. Others require some
sort
of wait.

Why would you be in a 401k if they didn't match? Why not a IRA then? In
an IRA you can self direct it better with a much more diverse set of
options. Hell, I transfered out of the US and left it open for 1 more
year just to vest before I rolled it over into an IRA. It was part of
the equasion.


--
Socialism and statism are great as long as someone else pays for it.

You could put more money in a 401k than an IRA would be one reason. And
watch what you invest the IRA in.

Maybe... there are Sep-IRAs, however.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

"Bill McKee" wrote in message
m...

"nom=de=plume" wrote in message
...
wrote in message
...
On Mon, 26 Apr 2010 11:58:13 -0700, "nom=de=plume"
wrote:

wrote in message
m...
On Sun, 25 Apr 2010 21:18:39 -0600, Canuck57
wrote:

On 25/04/2010 7:16 PM, wrote:
My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

Pray tell what is the $250K mark? Some penalties? And roll it into
what? IRA? Capital gains amount??

If you make over $250k the Obama tax increases really smack you.


Untrue. It's a small increase. Those over $250K hardly care. At least
that's
my reaction anyway.

If you really "make" over $250k I agree but if you just get slammed
into the $250k bracket for a one time thing it seems more painful. I
do understand there are averaging tricks but I am trying to keep it
simple if I can.



Anyone who is close to the $250K line isn't going to be hanging
themselves in the garage over the tax diff. if they should actually have
reported income over that amount.

--
Nom=de=Plume

Why not **** about the excess taxes when you make +$250k? You must never
had a great year as an attorney. When the state and Feds take about 1/2
your money you have a bought the right to bitch. If you are a California
resident married, no children at home and lets say you get a windfall of
$200 stock option. The Feds will take 35% taxes, 1.5% Medicare tax and
the State of California will take 10%. Nice, $46.5% of your money just
went to government entities. Where a family of 4 making $50k pays no
income tax. They and their kids get a free ride. No wonder they like
Obama and government stimulus checks, and spending. They forget that the
excess spending is going to cause inflation and massive debt for those
children.



Blah, blah from you. We all know you're never going to be in the over $250K
category. So, you're the one bitchin about a tax break. Dumb is as dumb is.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

"nom=de=plume" wrote in message
...
"Bill McKee" wrote in message
m...

"Canuck57" wrote in message
...
On 26/04/2010 12:59 PM, nom=de=plume wrote:
wrote in message
...
On 25/04/2010 11:10 PM, wrote:
On Sun, 25 Apr 2010 21:18:39 -0600,
wrote:

On 25/04/2010 7:16 PM, wrote:
My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

Pray tell what is the $250K mark? Some penalties? And roll it into
what? IRA? Capital gains amount??

If you make over $250k the Obama tax increases really smack you.

Rolling it to a IRA shouldn't be a big deal but my roll over wasn't
over
$250K so I didn't go there. But I don't remember any such limit. The
key
is making sure the money shows up in the IRA promptly.

If you have a tax pre person, this is a 1 minute question, I would
ask. I
suspect you can roll it over without issue.

Also need to consider vesting if some of it isn't yet vested. In
which
case just roll over the vested part.

--
Socialism and statism are great as long as someone else pays for it.


Vesting? That only happens if the company does a match of some of the
money.
Some companies have instant vesting of 401K money. Others require some
sort
of wait.

Why would you be in a 401k if they didn't match? Why not a IRA then? In
an IRA you can self direct it better with a much more diverse set of
options. Hell, I transfered out of the US and left it open for 1 more
year just to vest before I rolled it over into an IRA. It was part of
the equasion.


--
Socialism and statism are great as long as someone else pays for it.

You could put more money in a 401k than an IRA would be one reason. And
watch what you invest the IRA in.

Maybe... there are Sep-IRAs, however.

--
Nom=de=Plume


Special Case. SEP == Self Employed Pension. If you do not have a business,
then no SEP.

Where does the Goldman Sachs money go??
 

"nom=de=plume" wrote in message
...
"Bill McKee" wrote in message
m...

"nom=de=plume" wrote in message
...
wrote in message
...
On Mon, 26 Apr 2010 11:58:13 -0700, "nom=de=plume"
wrote:

wrote in message
om...
On Sun, 25 Apr 2010 21:18:39 -0600, Canuck57
wrote:

On 25/04/2010 7:16 PM, wrote:
My real problem is, this will put
us past the evil $250k mark if I try to roll it all at once and the
IRS will come after me.

Pray tell what is the $250K mark? Some penalties? And roll it into
what? IRA? Capital gains amount??

If you make over $250k the Obama tax increases really smack you.


Untrue. It's a small increase. Those over $250K hardly care. At least
that's
my reaction anyway.

If you really "make" over $250k I agree but if you just get slammed
into the $250k bracket for a one time thing it seems more painful. I
do understand there are averaging tricks but I am trying to keep it
simple if I can.



Anyone who is close to the $250K line isn't going to be hanging
themselves in the garage over the tax diff. if they should actually have
reported income over that amount.

--
Nom=de=Plume

Why not **** about the excess taxes when you make +$250k? You must never
had a great year as an attorney. When the state and Feds take about 1/2
your money you have a bought the right to bitch. If you are a California
resident married, no children at home and lets say you get a windfall of
$200 stock option. The Feds will take 35% taxes, 1.5% Medicare tax and
the State of California will take 10%. Nice, $46.5% of your money just
went to government entities. Where a family of 4 making $50k pays no
income tax. They and their kids get a free ride. No wonder they like
Obama and government stimulus checks, and spending. They forget that the
excess spending is going to cause inflation and massive debt for those
children.



Blah, blah from you. We all know you're never going to be in the over
$250K category. So, you're the one bitchin about a tax break. Dumb is as
dumb is.

--
Nom=de=Plume


I am more likely to have been in that catagory than a failed "patent"
attorney.

Where does the Goldman Sachs money go??
 

"Wayne.B" wrote in message
...
On Mon, 26 Apr 2010 18:20:59 -0700, "Bill McKee"
wrote:

Preferreds and long bonds will both take a big hit when (not if)
interest rates start to rise. Convertible preferreds offer more
protection on the downside if the underlying common is solid.

I think they already been hit. Got out of most my preferreds a few months
ago.

They will get worse, quite possibly a lot worse. Back in the early
80s you could buy rock solid preferreds for less than 50% of par value
and yielding close to 15% annually. They all payed off at par
eventually as interest rates came down.

Yes. Citi was paying me 13% if I remember correctly.

Where does the Goldman Sachs money go??
 

wrote in message
...
On Mon, 26 Apr 2010 14:40:21 -0700, "nom=de=plume"
wrote:

I certainly agree. Unfortunately, converting IRAs to Roths is a tricky
business, since there's an income cap (or was). You also have to assume
that
the value of the investment will exceed the cost of the conversion. I'm
guessing you're retired (mostly?), so the income issue wouldn't be a
concern.

--

It is really something where I need some guidance.
That was what happened last time. I had 3 people telling me different
things and I ended up stalling into the crash.
It is amazing


There are a few ways to proceed really. You can get partial advice from a
Fidelity or possibly Vanguard, plus your own due diligence. They don't work
on commission, but they'll try to talk you into a managed portfolio (this
isn't so terrible, as I have an attorney friend who went that route and is
doing fine). You can do all your own research at places like The Motley
Fool. You can also use a financial advisor, but I'd suggest a fee-based
person vs. someone selling a product. You can find them through the personal
financial advisors' professional association (napfa.org). I'd stay away from
things like annuities (unless you're in your 80s) or anything that sounds
overly complicated.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

wrote in message
...
On Mon, 26 Apr 2010 18:01:56 -0600, Canuck57
wrote:

Second, in retirement your income and taxes will plumet.


I have been somewhat retired since 1996. I had some gigs but they were
sole proprietor contracts and I have a pretty sharp pencil on a
schedule C.
The problem is my wife makes a lot of money

Well it is not that big a problem I guess ;-)


Definitely nothing wrong with being a kept man I suppose... suggestion:
continue to be nice to her. :)

--
Nom=de=Plume