Where does the Goldman Sachs money go??
 

"Bill McKee" wrote in message
...

"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.

Which is why I said "maybe." Oh wow... I have a business. I guess I know
something about it.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

"Bill McKee" wrote in message
m...

"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
news:sv7at5trllmm8aa7fgcf4c7osrn91cdcen@4ax. com...
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.

Meta message: You aren't, never were, and never will be.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

wrote in message
...
On Mon, 26 Apr 2010 18:17:46 -0700, "Bill McKee"
wrote:

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.

That is one good thing about Florida. No income tax


My only experience with Florida was the Cape and monster bugs. :)

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

wrote in message
...
On Mon, 26 Apr 2010 21:41:08 -0400, Wayne.B
wrote:

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.


I was really just looking at this as a short term trade and my
thinking is ther fed is not going to let interest rates go up too much
in the short term. This recovery is so fragile that they will do
anything to keep the party going.
This is my speculative money anyway. If I guess wrong I won't need to
be eating cat food.



Inflation is not the concern right now. It's quite under control, and
allowing it to get out of hand would damage the recovery.

--
Nom=de=Plume

Where does the Goldman Sachs money go??
 

On Tue, 27 Apr 2010 01:01:54 -0400, wrote:

I was really just looking at this as a short term trade and my
thinking is ther fed is not going to let interest rates go up too much
in the short term.

The Fed will do their best but ultimately it is the markets that call
the tune on interest rates. Somebody has to buy those bonds and
T-bills.

Where does the Goldman Sachs money go??
 

On 26/04/2010 2:40 PM, Bill McKee wrote:
wrote in message
...
On Mon, 26 Apr 2010 06:10:56 -0600,
wrote:

On 25/04/2010 11:18 PM, wrote:
On Sun, 25 Apr 2010 21:34:40 -0600,
wrote:

On 25/04/2010 7:18 PM, wrote:
On Sun, 25 Apr 2010 17:01:19 -0600,
wrote:

That might not be a bad idea to split them. But make no mistake,
Obama
is trying to scape goat them. Wants to look tough going into
Novemeber
for the PR of it.

I only hope the PR drives their stock down so I can get some cheap.
$10 would do it, $5 would be great.

Come on baby, papa needs a new boat!

Hahaha, you have the right idea. To steal the phrase, "That baby has
to
pay daddy!"

Think, if you bought GS when Obama got elected, you would be up 300%.

Heck, if it drops to $100 just might. But somehow don't think we will
see $5/share.


GS-A was $20.90 Friday, down about $2 in 2 days. It had been a $25
stock before the crash and dropped like a stone a couple years ago
with everything else. It recovered to $20-22 range. There is no reason
to believe it won't be back again as long as nothing serious happens
to Goldman and I don't expect it to.

Those are depositary shares. The common is GS. Don't know enough to
comment on depositary shares. But a quick look shows they might be
interesting if your after foreign content. But much would depend what
companies it represents and the details as I like a certain amount of
foreign content these days. If the Chinese ever let the Yuan float, the
USD would fall.


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.

Yes, but good things to buy if yu thing the company is good and interest
rates have peeked, Then they are priced right. Who knows, gfretwell
might se that $5.


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

Where does the Goldman Sachs money go??
 

On 26/04/2010 7:22 PM, Bill McKee wrote:
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.

Interesting. Take the tax hit and roll it into a ROTH...hm...need to
think about that.


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

Where does the Goldman Sachs money go??
 

On 26/04/2010 10:46 PM, wrote:
On Mon, 26 Apr 2010 17:52:24 -0600,
wrote:

That might not be a good idea unless you are over 59 1/2 or something.

That is foam in the wake ;-)

How do you mean? I thought if you start taking money out of the
IRA/401k that there was a 10% surtax or something if you were less than
59 1/2.

Me, no tax expert on this. Just seeking to understand. Because if all
I had to do is pay a normal rate of taxes on it, I might start drawing
on it sooner than later.

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

Where does the Goldman Sachs money go??
 

On 27/04/2010 1:39 AM, nom=de=plume wrote:
wrote in message
...
On Mon, 26 Apr 2010 18:01:56 -0600,
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. :)

Depends, does she look like a republican or a democrat?
--
Socialism and statism are great as long as someone else pays for it.

Where does the Goldman Sachs money go??
 

On 26/04/2010 7:01 PM, nom=de=plume wrote:
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.


As usual, you don't know much about business or saving.

Go away, people are trying to have an intelligent conversation.

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