Is everybody happy with they new tax law
On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze
wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 10:59:57 -0500, wrote:
On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. * I'll will lose two child deductions, but I would have lost one anyone, she's getting married. *************************** Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.* I'll have to see how it affects my paycheck.* The new rates won't be active until next month.* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.* I'd suggest keeping your job a bit longer if you enjoy what you're doing.* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.* I've got a few IRA's and some non-retirement investments, too.* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. **************************** Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. I wonder if even Al Gore still calls it 'global warming'? |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 11:23:54 -0500, John H
wrote: On Fri, 12 Jan 2018 10:59:57 -0500, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. I wonder if even Al Gore still calls it 'global warming'? Al Gore just calls it "making a buck" |
Is everybody happy with they new tax law
On 1/12/2018 9:00 AM, Keyser Soze wrote:
On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Well, I do expect it to correct, but the market always corrects. And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. My wife is very frugal, she recently went shopping for shirts for me. She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. That's only one method we used to get to the Top 1% *. Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. At this point, I'm invested for my kids. Mikek * I know how much you hate the 1%. Those evil rich people. |
Is everybody happy with they new tax law
On 1/12/2018 10:59 AM, wrote:
On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. |
Is everybody happy with they new tax law
On 1/12/18 12:14 PM, amdx wrote:
On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â*Well, I do expect it to correct, but the market always corrects. Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* My wife is very frugal, she recently went shopping for shirts for me. Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â*That's only one method we used to get to the Top 1% *. Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* At this point, I'm invested for my kids. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. |
Is everybody happy with they new tax law
On Friday, 12 January 2018 14:35:29 UTC-4, Keyser Soze wrote:
On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â*Well, I do expect it to correct, but the market always corrects. Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* My wife is very frugal, she recently went shopping for shirts for me. Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â*That's only one method we used to get to the Top 1% *. Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* At this point, I'm invested for my kids. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite"
wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". |
Is everybody happy with they new tax law
On 1/12/18 3:57 PM, True North wrote:
On Friday, 12 January 2018 14:35:29 UTC-4, Keyser Soze wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â*Well, I do expect it to correct, but the market always corrects. Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* My wife is very frugal, she recently went shopping for shirts for me. Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â*That's only one method we used to get to the Top 1% *. Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* At this point, I'm invested for my kids. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. |
Is everybody happy with they new tax law
On 1/12/18 4:30 PM, wrote:
On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". I can hardly wait for Trump to try that excuse... |
Is everybody happy with they new tax law
On 1/12/2018 3:38 PM, Keyser Soze wrote:
On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser SozeÂ* wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â*Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â* Â*Well, I do expect it to correct, but the market always corrects. Â* Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â* Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â* Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â* Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* Â* My wife is very frugal, she recently went shopping for shirts for me. Â* Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â* Â*That's only one method we used to get to the Top 1% *. Â* Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* Â* At this point, I'm invested for my kids. Â* Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â* Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. Â*From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentageÂ* of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. BTW, To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Mikek |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 16:39:08 -0500, Keyser Soze
wrote: On 1/12/18 4:30 PM, wrote: On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". I can hardly wait for Trump to try that excuse... It is not an excuse, it is just a fact. Getting rid of Nixon was far worse than just letting him hang around a couple more years. You ended up approving of most of the things he accomplished. A few are, ending the war, ending the draft, title IX, lowering the voting age, creation of OSHA, EPA, CPSC, opening up China, starting the talks with the Soviets that brought about SALT and easing of tensions. Who knows what else he might have done for civil rights, women;s rights and liberals in general but no good deed goes unpunished so they fired him for doing the same thing presidents had been doing for a century. |
Is everybody happy with they new tax law
On 1/12/2018 4:30 PM, wrote:
On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". I get a kick out of the economic experts giving their predictions. The gold/precious metals people say we are about to experience a major stock market crash that will make 2008's real estate bubble burst look like a minor hic-up. Then there's the pro-market guys (heard one today) who are predicting a long term (3 to 5 year) run up of stock values. |
Is everybody happy with they new tax law
On 1/12/18 4:56 PM, amdx wrote:
On 1/12/2018 3:38 PM, Keyser Soze wrote: On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser SozeÂ* wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â*Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â* Â*Well, I do expect it to correct, but the market always corrects. Â* Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â* Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â* Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â* Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* Â* My wife is very frugal, she recently went shopping for shirts for me. Â* Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â* Â*That's only one method we used to get to the Top 1% *. Â* Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* Â* At this point, I'm invested for my kids. Â* Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â* Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. Â*From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentageÂ* of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. Â*BTW, Â*To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek Such doesn't really interest me... |
Is everybody happy with they new tax law
On 1/12/2018 5:35 PM, Keyser Soze wrote:
On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser SozeÂ* wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â*Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â* Â*Well, I do expect it to correct, but the market always corrects. Â* Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â* Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â* Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â* Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* Â* My wife is very frugal, she recently went shopping for shirts for me. Â* Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â* Â*That's only one method we used to get to the Top 1% *. Â* Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* Â* At this point, I'm invested for my kids. Â* Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â* Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. Â*From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. Â*Â*BTW, Â*Â*To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek Such doesn't really interest me... Seems like now-a-days if you keep your nose to the wheel stone, work hard, be honest, treat customers and employees fairly that over the years you may enjoy some level of success ... BUT ... if you succeed too much in the eyes of many you go into the vilified file. |
Is everybody happy with they new tax law
On 1/12/18 5:54 PM, Mr. Luddite wrote:
On 1/12/2018 5:35 PM, Keyser Soze wrote: On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser SozeÂ* wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â*Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â* Â*Well, I do expect it to correct, but the market always corrects. Â* Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â* Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â* Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â* Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* Â* My wife is very frugal, she recently went shopping for shirts for me. Â* Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â* Â*That's only one method we used to get to the Top 1% *. Â* Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* Â* At this point, I'm invested for my kids. Â* Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â* Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. Â*From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. Â*Â*BTW, Â*Â*To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek Such doesn't really interest me... Seems like now-a-days if you keep your nose to the wheel stone, work hard, be honest, treat customers and employees fairly that over the years you may enjoy some level of success ...Â* BUT ... if you succeed too much in the eyes of many you go into the vilified file. I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Greedy grifters like Trump make me want to throw up. He certainly did not work hard, nor was he honest, and he didn't treat people fairly. But there are people far wealthier than Trump who do the right thing with their money who I admire because of that. |
Is everybody happy with they new tax law
On 1/12/2018 4:35 PM, Keyser Soze wrote:
On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser SozeÂ* wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â*Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Â* Â*Well, I do expect it to correct, but the market always corrects. Â* Â*And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. Â* Â*I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. Â* Â*There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. Â* Â* I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. Â* Â*I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. Â* Â* I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. Â* Â* My wife is very frugal, she recently went shopping for shirts for me. Â* Â*She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. Â* Â*That's only one method we used to get to the Top 1% *. Â* Â*Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. Â* Â* At this point, I'm invested for my kids. Â* Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek Â* Â** I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. Â*From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. Â*Â*BTW, Â*Â*To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek Such doesn't really interest me... It is just a comment on how easy it is for an American to be in the TOP 1% compared to the world. (especially in income) Mikek |
Is everybody happy with they new tax law
amdx wrote:
On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more. I'll have to see how it affects my paycheck. The new rates won't be active until next month. If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back. I'd suggest keeping your job a bit longer if you enjoy what you're doing. Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60. I've got a few IRA's and some non-retirement investments, too. I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Mikek I'm looking at land. Residential lots in SW FL and some acreage in Central FL. All would be held in an LLC but I need to find out if I still need to carry liability insurance in case some idiot trespasses and gets hurt. I would never be a landlord for the reasons you mention. |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 17:32:35 -0500, "Mr. Luddite"
wrote: On 1/12/2018 4:30 PM, wrote: On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". I get a kick out of the economic experts giving their predictions. The gold/precious metals people say we are about to experience a major stock market crash that will make 2008's real estate bubble burst look like a minor hic-up. Then there's the pro-market guys (heard one today) who are predicting a long term (3 to 5 year) run up of stock values. I could argue either side of that. You do have a ****load of Gen Exers and Millennials chucking money into the market with their 401ks and that tends to support the bull but I still have a hard time ignoring the debt problem and the lack of real growth. We already borrow all of the money to run the government beyond entitlements and interest on the debt. What happens when revenue does not even cover that? The Fed already monetized $4.5T of our debt by buying unsold bonds. When will the world figure out our debt is a bad bet and stop renewing their bonds? Things will happen fast then. I know US "paper" is supposed to be the safest thing in the world but so was real estate ... until it wasn't. I was the one on these yacking boards who said real estate was cruising for a fall but I was 10-15 years early. I did not believe the elasticity of the financial markets to absorb that much bad debt. When it finally popped it was much worse than I predicted tho because it brought down the banking industry with it, not just the real estate market. I did not really understand the effect of the derivatives. This situation is worse than that. If the federal debt bubble pops the 30s will look like a bump in the road. It could take down "money" as we know it. |
Is everybody happy with they new tax law
Keyser Soze wrote:
On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser Soze wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more. I'll have to see how it affects my paycheck. The new rates won't be active until next month. If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back. I'd suggest keeping your job a bit longer if you enjoy what you're doing. Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60. I've got a few IRA's and some non-retirement investments, too. I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Well, I do expect it to correct, but the market always corrects. And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. My wife is very frugal, she recently went shopping for shirts for me. She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. That's only one method we used to get to the Top 1% *. Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. At this point, I'm invested for my kids. Mikek * I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. I'm sure they are "dealing" with more women than men in their pseudoscience. |
Is everybody happy with they new tax law
Mr. Luddite wrote:
On 1/12/2018 5:35 PM, Keyser Soze wrote: On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: On 1/12/18 3:57 PM, True North wrote: On Friday, 12 January 2018 14:35:29 UTC-4, Keyser Soze wrote: On 1/12/18 12:14 PM, amdx wrote: On 1/12/2018 9:00 AM, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more. I'll have to see how it affects my paycheck. The new rates won't be active until next month. If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back. I'd suggest keeping your job a bit longer if you enjoy what you're doing. Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60. I've got a few IRA's and some non-retirement investments, too. I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Well, I do expect it to correct, but the market always corrects. And then it surpasses it's old high. It's possible at some point I will get the itch that "enough IS enough) and decide to get out. Then the question is where;s the bottom, when do you get back in? You can't time the market. At least not often enough over the long term. I expect my nest egg to support at least my young wife for 30 more years. That means I could have 30 more years of growth. 30 years of growth at a conservative 6% will multiply a $1 in to $6 over 30 years. There will be fluctuations, as long as we have enough income during a downturn we are good. We are good. I'm about 70% in equities and may reduce that as I get older, but I doubt I will ever get to 50%. I have a very tiny amount in bonds, because as rates rise, bonds decrease and we are in a rising rate environment. I regret that investment now, but I was restricted on what I could buy in my HSA account. I have breakfast with several other retirees twice a week. A common subject is how we live frugally and how we don't need to. However we don't know what we need that we would spend money on. My wife is very frugal, she recently went shopping for shirts for me. She picked out 10 or 11 shirts and had them held, she told me to go look at the shirts, pick out what you like (she picked out the best quality they had) and buy them. I went and bought 6 of the shirts I liked. They were $2 a piece at Salvation Army. For $12 I got $120 to $200 worth of shirts and they are great. That's only one method we used to get to the Top 1% *. Ok, I wanted you to stew for a second. Not really in the top 1% but we're comfortable. At this point, I'm invested for my kids. Mikek * I know how much you hate the 1%. Those evil rich people. You were a hard-working guy. I have no reason to resent your financial success. My wife, who is 18 years younger than I am, should have a lovely retirement. She'll get a solid retirement from her employer, where she's been for 20 years. Very shortly, her age and years of service will add up to 75, which is the magic number for full retirement if you want to take it. It is reduced some for each year before the age of 60, if you take retirement. Plus, at some point later, she'll get Social Security. Plus her savings and other items. And, of course, she can charge $150 to $200 an hour for therapy she provides as a private practitioner. She's thinking of "retiring" to Hilton Head, where there is a large pool of potential patients who aren't worried about paying for therapy via health insurance. From what I've seen of those southern boys in here...your wife would have an avalanche of needy clients. She'd be doing the country a great service if she could straighten out even a small percentage of them. Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. BTW, To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Mikek Such doesn't really interest me... Seems like now-a-days if you keep your nose to the wheel stone, work hard, be honest, treat customers and employees fairly that over the years you may enjoy some level of success ... BUT ... if you succeed too much in the eyes of many you go into the vilified file. You nailed it. Krause gives Apple an exception, of course. |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze
wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. |
Is everybody happy with they new tax law
On Fri, 12 Jan 2018 20:01:47 -0500, Alex wrote:
I'm looking at land. Residential lots in SW FL and some acreage in Central FL. All would be held in an LLC but I need to find out if I still need to carry liability insurance in case some idiot trespasses and gets hurt. I would never be a landlord for the reasons you mention. Short answer, yes, unless you are willing to give up all the assets of the LLC, usually the property. I also would not count on a lawyer trying to penetrate the LLC and coming after you personally. Even if it is unsuccessful, you may still end up paying the lawyer tax. |
Is everybody happy with they new tax law
On Friday, January 12, 2018 at 6:08:53 PM UTC-5, Keyser Soze wrote:
On 1/12/18 5:54 PM, Mr. Luddite wrote: On 1/12/2018 5:35 PM, Keyser Soze wrote: On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. Â*Â*BTW, Â*Â*To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek Such doesn't really interest me... Seems like now-a-days if you keep your nose to the wheel stone, work hard, be honest, treat customers and employees fairly that over the years you may enjoy some level of success ...Â* BUT ... if you succeed too much in the eyes of many you go into the vilified file. I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Yet you keep talking about your wife getting 150-200 an hour in her future practice. You are kneeling at the altar of sick. |
Is everybody happy with they new tax law
On 1/12/2018 8:01 PM, Alex wrote:
amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek I'm looking at land.Â* Residential lots in SW FL and some acreage in Central FL.Â* All would be held in an LLC but I need to find out if I still need to carry liability insurance in case some idiot trespasses and gets hurt. I would never be a landlord for the reasons you mention. Me either. We purchased two "extra" houses in the past but never rented them. My mother lived in one of them for several years until she had to move into assisted living. My youngest son and his wife lived in the other for a while after he was discharged from the Navy and they were getting their civilian life going. We ended up selling both but "held the paper" meaning we hold the mortgages. They are conventional, 30 year notes with interest at the prevailing rates at the time they were written. I think one is at 6.5 percent and the other at 8 percent. Neither buyer has ever missed a payment and we make all the interest the bank would normally make over the term of the mortgage. The buyers pay for taxes, insurance, maintenance, etc. just like a regular bank mortgage. We only pay income taxes on the interest, not the principal. They provide a nice little addition to our income every month. |
Is everybody happy with they new tax law
On 1/12/2018 8:12 PM, wrote:
On Fri, 12 Jan 2018 17:32:35 -0500, "Mr. Luddite" wrote: On 1/12/2018 4:30 PM, wrote: On Fri, 12 Jan 2018 12:32:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 10:59 AM, wrote: On Fri, 12 Jan 2018 10:00:11 -0500, Keyser Soze wrote: On 1/12/18 9:46 AM, amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck.Â* The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek When the market "corrects" and tumbles, what are you going to do...go back to selling shrimp? Temporary glitches in the market are dealt with by using diversification. So far it has always recovered. If there was an actual crash that we didn't recover from, selling shrimp would not be an option either because the dollar would go down with it along with the whole world economy. That kind of thing will usually result in a massive war and these days it will be the kind of war that ends all of that global warming bull****. We will scrub those few billion of the population we need to and be in a nuclear winter for a decade or two. My, my. You certainly have a cheery outlook of the future. I am just responding to the kind of crash Harry was alluding to. It is not impossible tho. How long can we keep borrowing more than we make (as a society)? The fact remains that we have been borrowing our way to prosperity since the Reagan administration with no real plan to pay it back. One of these days that debt will overwhelm our ability to even pay the interest. Then what? That is the long range problem. In the short term, it will not take much to crash the stock market and depress the economy. A coup in the executive branch would do it as we saw in 74, a crash the middle class never recovered from. That is also what led to the "borrow and spend prosperity". I get a kick out of the economic experts giving their predictions. The gold/precious metals people say we are about to experience a major stock market crash that will make 2008's real estate bubble burst look like a minor hic-up. Then there's the pro-market guys (heard one today) who are predicting a long term (3 to 5 year) run up of stock values. I could argue either side of that. You do have a ****load of Gen Exers and Millennials chucking money into the market with their 401ks and that tends to support the bull but I still have a hard time ignoring the debt problem and the lack of real growth. We already borrow all of the money to run the government beyond entitlements and interest on the debt. What happens when revenue does not even cover that? The Fed already monetized $4.5T of our debt by buying unsold bonds. When will the world figure out our debt is a bad bet and stop renewing their bonds? Things will happen fast then. I know US "paper" is supposed to be the safest thing in the world but so was real estate ... until it wasn't. I was the one on these yacking boards who said real estate was cruising for a fall but I was 10-15 years early. I did not believe the elasticity of the financial markets to absorb that much bad debt. When it finally popped it was much worse than I predicted tho because it brought down the banking industry with it, not just the real estate market. I did not really understand the effect of the derivatives. This situation is worse than that. If the federal debt bubble pops the 30s will look like a bump in the road. It could take down "money" as we know it. Debt as it relates to global economics is a transparent, phony concept period. There's no underlying standard or base to it. Debt is only real to common people tied to the banking systems via mortgages, credit cards or loans and the penalties for defaulting are governed only within the rules of the banking systems. Global (national) debt doesn't mean a thing. To be concerned with it assumes you think a "note" is going to be called and it is going to be repaid someday by someone. It isn't. It's factored into global trade and international finance. To think it is like a bank loan that has a maturity date tied to it isn't real. A maturity date doesn't exist. If there aren't enough revenues to pay the phony interest, the government just prints more money. |
Is everybody happy with they new tax law
|
Is everybody happy with they new tax law
On 1/13/2018 4:33 AM, Mr. Luddite wrote:
On 1/12/2018 8:01 PM, Alex wrote: amdx wrote: On 1/8/2018 6:29 PM, Alex wrote: wrote: On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote: amdx wrote: and hey, how about the stock market? I should do well under the new tax law, looks like I'll qualify for the pass thru, knocking off 20% of my business income from being taxable. and a Standard deduction of $24k, what's not to like. Â* I'll will lose two child deductions, but I would have lost one anyone, she's getting married. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek My 401K hit seven figures shortly after President Trump was elected and has grown even more.Â* I'll have to see how it affects my paycheck. The new rates won't be active until next month.Â* If this continues I might be able to retire at 55! === I've been moving into more conservative, and more diversified assets in anticipation of a market pull back.Â* I'd suggest keeping your job a bit longer if you enjoy what you're doing.Â* Inflation becomes a real risk once you stop working. --- This email has been checked for viruses by AVG. http://www.avg.com I'm realistically looking to retire by 60.Â* I've got a few IRA's and some non-retirement investments, too.Â* I don't want to have to watch the market all the time to feel comfortable. Investing new money is challenging right now with the market so high. I'm looking more and more at real estate. Many people do well with real estate, but if you buy rentals you are buying a job. 20 some years ago I had 5 rentals, I did well with them, but when I moved out of state I sold them all, and at 62 I have zero interest being on call to do repairs or maintenance. Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek I'm looking at land.Â* Residential lots in SW FL and some acreage in Central FL.Â* All would be held in an LLC but I need to find out if I still need to carry liability insurance in case some idiot trespasses and gets hurt. I would never be a landlord for the reasons you mention. Me either.Â* We purchased two "extra" houses in the past but never rented them. My mother lived in one of them for several years until she had to move into assisted living.Â* My youngest son and his wife lived in the other for a while after he was discharged from the Navy and they were getting their civilian life going. We ended up selling both but "held the paper" meaning we hold the mortgages.Â* They are conventional, 30 year notes with interest at the prevailing rates at the time they were written.Â* I think one is at 6.5 percent and the other at 8 percent.Â* Neither buyer has ever missed a payment and we make all the interest the bank would normally make over the term of the mortgage.Â* The buyers pay for taxes, insurance, maintenance, etc. just like a regular bank mortgage.Â* We only pay income taxes on the interest, not the principal.Â* They provide a nice little addition to our income every month. I'm holding paper on a property collecting 8%. Family member wanted to borrow money to buy a property, I told my wife if she wants to lend money that she needs to get her name on the deed. So we were 1/3 owner, after a couple years the 2/3 owner wanted out. we got a little discount and were full owners. For a couple years we collected 11%, then when we renewed the contract I dropped it to 8%. It has a couple more years to go. I'm tempted to cash out, but it's money every year and all I need to do is cash the check. The buyer has made great improvements to the property and even bought more land around it. It is part of a church, so I feel it is pretty safe and even with a default it's more valuable then when we sold it. Mikek |
Is everybody happy with they new tax law
Its Me Wrote in message:
On Friday, January 12, 2018 at 6:08:53 PM UTC-5, Keyser Soze wrote: On 1/12/18 5:54 PM, Mr. Luddite wrote: On 1/12/2018 5:35 PM, Keyser Soze wrote: On 1/12/18 4:56 PM, amdx wrote: On 1/12/2018 3:38 PM, Keyser Soze wrote: Her future partner in Hilton Head and Savannah sees 6-8 patients a day, five days a week, year around, and has a long waiting list, from what I recall from our visit last summer. I doubt either of the ladies would want to deal with the boys in here. BTW, To be in the top 1% of the WORLD, you need a household income of $32,500 or you need $750,000 net worth. Mikek Such doesn't really interest me... Seems like now-a-days if you keep your nose to the wheel stone, work hard, be honest, treat customers and employees fairly that over the years you may enjoy some level of success ... BUT ... if you succeed too much in the eyes of many you go into the vilified file. I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Yet you keep talking about your wife getting 150-200 an hour in her future practice. You are kneeling at the altar of sick. He has nothing else to look forward to. His well being is dependant on his brides ability to weasel in on the con her girlfriend is running at Hilton Head. -- x ----Android NewsGroup Reader---- http://usenet.sinaapp.com/ |
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 07:02:02 -0500, "Mr. Luddite"
wrote: Debt as it relates to global economics is a transparent, phony concept period. There's no underlying standard or base to it. Debt is only real to common people tied to the banking systems via mortgages, credit cards or loans and the penalties for defaulting are governed only within the rules of the banking systems. Global (national) debt doesn't mean a thing. To be concerned with it assumes you think a "note" is going to be called and it is going to be repaid someday by someone. It isn't. It's factored into global trade and international finance. To think it is like a bank loan that has a maturity date tied to it isn't real. A maturity date doesn't exist. If there aren't enough revenues to pay the phony interest, the government just prints more money. === That's an interesting theory but there's plenty of historical evidence to indicate that there are consequences to excessive sovereign debt. I would hold up Brazil, Argentina, Greece and Italy as prime examples. Their debts eventually became so overwhelming that no one would lend to them on any terms, and their ability to conduct foreign trade was severely impacted. As they printed more and more money, their rate of inflation reached astronomical levels and currency became virtually worthless. It's not a good place to be. Eventually foreign banks and governments step into the situation and take charge on their terms. Do we really want the Chinese or Saudis dictating our internal policies? --- This email has been checked for viruses by AVG. http://www.avg.com |
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze
wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. === That would explain why you haven't been fired. --- This email has been checked for viruses by AVG. http://www.avg.com |
Is everybody happy with they new tax law
|
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 07:02:02 -0500, "Mr. Luddite"
wrote: On 1/12/2018 8:12 PM, wrote: I could argue either side of that. You do have a ****load of Gen Exers and Millennials chucking money into the market with their 401ks and that tends to support the bull but I still have a hard time ignoring the debt problem and the lack of real growth. We already borrow all of the money to run the government beyond entitlements and interest on the debt. What happens when revenue does not even cover that? The Fed already monetized $4.5T of our debt by buying unsold bonds. When will the world figure out our debt is a bad bet and stop renewing their bonds? Things will happen fast then. I know US "paper" is supposed to be the safest thing in the world but so was real estate ... until it wasn't. I was the one on these yacking boards who said real estate was cruising for a fall but I was 10-15 years early. I did not believe the elasticity of the financial markets to absorb that much bad debt. When it finally popped it was much worse than I predicted tho because it brought down the banking industry with it, not just the real estate market. I did not really understand the effect of the derivatives. This situation is worse than that. If the federal debt bubble pops the 30s will look like a bump in the road. It could take down "money" as we know it. Debt as it relates to global economics is a transparent, phony concept period. There's no underlying standard or base to it. Debt is only real to common people tied to the banking systems via mortgages, credit cards or loans and the penalties for defaulting are governed only within the rules of the banking systems. Global (national) debt doesn't mean a thing. To be concerned with it assumes you think a "note" is going to be called and it is going to be repaid someday by someone. It isn't. It's factored into global trade and international finance. To think it is like a bank loan that has a maturity date tied to it isn't real. A maturity date doesn't exist. If there aren't enough revenues to pay the phony interest, the government just prints more money. The problem is the interest we pay on a lot of that debt is real (private holders, foreign governments and now, SS/MC recipients) and there is a limit to how much money the government can just "print" before runaway inflation gobbles us all up. To start with the interest on the short term paper the government has to sell over to cover that interest will skyrocket, making the problem worse. This was the basis of a lot of Perot's "charts and graphs" that insured we would never have another viable 3d party candidate. Nobody wants to tell the emperor he has no clothes. You are really starting to sound like those people denying that there was ever a problem with housing. "I mean, who doesn't pay their mortgage" or so it was explained. |
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze
wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. Maybe in the eyes of the IRS but your employer is everyone who employs your services. I bet you squeeze them as hard as you can. |
Is everybody happy with they new tax law
On 1/13/18 1:13 PM, wrote:
On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. Maybe in the eyes of the IRS but your employer is everyone who employs your services. I bet you squeeze them as hard as you can. Nope. In fact, often I have undercut the prices of competitors for monthly services covered by a contract. I haven't raised my price for researching and writing a 15-30 minute speech in 15 years, and I've lowered my price for visual presentations because the software these days is easier to use. A full-time staff speechwriter in DC for a major league client can command an annual salary of $150,000-$200,000, so if I can produce three or four speeches a year for a client, I'm a bargain. Serious annual reports are higher because there is so much back and forth, editing, lawyer and CPA demanded changes, et cetera. I don't mark up out-of-pocket expenses, such as graphics artists, travel, et cetera. I've had three clients under contract for 15-30 years. |
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 13:31:21 -0500, Keyser Soze
wrote: On 1/13/18 1:13 PM, wrote: On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. Maybe in the eyes of the IRS but your employer is everyone who employs your services. I bet you squeeze them as hard as you can. Nope. In fact, often I have undercut the prices of competitors for monthly services covered by a contract. I haven't raised my price for researching and writing a 15-30 minute speech in 15 years, and I've lowered my price for visual presentations because the software these days is easier to use. A full-time staff speechwriter in DC for a major league client can command an annual salary of $150,000-$200,000, so if I can produce three or four speeches a year for a client, I'm a bargain. Serious annual reports are higher because there is so much back and forth, editing, lawyer and CPA demanded changes, et cetera. I don't mark up out-of-pocket expenses, such as graphics artists, travel, et cetera. I've had three clients under contract for 15-30 years. So you have a number of employers |
Is everybody happy with they new tax law
On 1/13/18 2:18 PM, wrote:
On Sat, 13 Jan 2018 13:31:21 -0500, Keyser Soze wrote: On 1/13/18 1:13 PM, wrote: On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. Maybe in the eyes of the IRS but your employer is everyone who employs your services. I bet you squeeze them as hard as you can. Nope. In fact, often I have undercut the prices of competitors for monthly services covered by a contract. I haven't raised my price for researching and writing a 15-30 minute speech in 15 years, and I've lowered my price for visual presentations because the software these days is easier to use. A full-time staff speechwriter in DC for a major league client can command an annual salary of $150,000-$200,000, so if I can produce three or four speeches a year for a client, I'm a bargain. Serious annual reports are higher because there is so much back and forth, editing, lawyer and CPA demanded changes, et cetera. I don't mark up out-of-pocket expenses, such as graphics artists, travel, et cetera. I've had three clients under contract for 15-30 years. So you have a number of employers I did, early in my working life, but I've been a contractor since the mid-1970s. |
Is everybody happy with they new tax law
On 1/13/2018 1:11 PM, wrote:
On Sat, 13 Jan 2018 07:02:02 -0500, "Mr. Luddite" wrote: On 1/12/2018 8:12 PM, wrote: I could argue either side of that. You do have a ****load of Gen Exers and Millennials chucking money into the market with their 401ks and that tends to support the bull but I still have a hard time ignoring the debt problem and the lack of real growth. We already borrow all of the money to run the government beyond entitlements and interest on the debt. What happens when revenue does not even cover that? The Fed already monetized $4.5T of our debt by buying unsold bonds. When will the world figure out our debt is a bad bet and stop renewing their bonds? Things will happen fast then. I know US "paper" is supposed to be the safest thing in the world but so was real estate ... until it wasn't. I was the one on these yacking boards who said real estate was cruising for a fall but I was 10-15 years early. I did not believe the elasticity of the financial markets to absorb that much bad debt. When it finally popped it was much worse than I predicted tho because it brought down the banking industry with it, not just the real estate market. I did not really understand the effect of the derivatives. This situation is worse than that. If the federal debt bubble pops the 30s will look like a bump in the road. It could take down "money" as we know it. Debt as it relates to global economics is a transparent, phony concept period. There's no underlying standard or base to it. Debt is only real to common people tied to the banking systems via mortgages, credit cards or loans and the penalties for defaulting are governed only within the rules of the banking systems. Global (national) debt doesn't mean a thing. To be concerned with it assumes you think a "note" is going to be called and it is going to be repaid someday by someone. It isn't. It's factored into global trade and international finance. To think it is like a bank loan that has a maturity date tied to it isn't real. A maturity date doesn't exist. If there aren't enough revenues to pay the phony interest, the government just prints more money. The problem is the interest we pay on a lot of that debt is real (private holders, foreign governments and now, SS/MC recipients) and there is a limit to how much money the government can just "print" before runaway inflation gobbles us all up. To start with the interest on the short term paper the government has to sell over to cover that interest will skyrocket, making the problem worse. This was the basis of a lot of Perot's "charts and graphs" that insured we would never have another viable 3d party candidate. Nobody wants to tell the emperor he has no clothes. You are really starting to sound like those people denying that there was ever a problem with housing. "I mean, who doesn't pay their mortgage" or so it was explained. Not me on the housing thing. I don't profess that I understood it all but I felt there was a major crash coming as early as 2002. We had purchased two houses in Florida and the annual appreciation at that time was about 23% in the Jupiter area. A guy I met down there was big time into flipping houses and tried several times to get me to join in with him buying and selling. No way, Jose'. We did ok on the two houses we had when we sold them but the warning signs were becoming clear. We got out in the nick of time. But, going back to the national "debt". I remember when Reagan came along and starting reversing the economically timid policies of Jimmy Carter (who still increased the national debt by 43% over his four year term). Reagan took a lot of heat for "spending our way to prosperity" and significantly increased the national debt. Well, that was almost 40 years ago. We're still here and the sky hasn't fallen. I remember talking to a money guy during the Reagan expansion and I recited the standard "national debt" concern that many had at the time. He just shook his head and said, "It only matters if it ends and you have to pay the piper. It's not going to end ... there's no bill to pay ... it's all artificial". In fact, the last POTUS who actually *reduced* the national debt was Calvin Coolidge in FY's 1924-1929. Shortly thereafter the stock market crashed and we were in a deep depression. |
Is everybody happy with they new tax law
On Sat, 13 Jan 2018 13:31:21 -0500, Keyser Soze wrote: On 1/13/18 1:13 PM, wrote: On Sat, 13 Jan 2018 08:05:16 -0500, Keyser Soze wrote: On 1/12/18 11:05 PM, wrote: On Fri, 12 Jan 2018 18:08:50 -0500, Keyser Soze wrote: I have no interest in the "1% of the world." I think the pursuit of money for greed's sake is a sickness. Guilty? If what you have said is true you are the top 1% of the US and more like the top .0001% of the world. I bet you never said "naa, that's too much" and gave your employer some back. My employer has been me since the mid-1970s. Maybe in the eyes of the IRS but your employer is everyone who employs your services. I bet you squeeze them as hard as you can. Nope. In fact, often I have undercut the prices of competitors for monthly services covered by a contract. I haven't raised my price for researching and writing a 15-30 minute speech in 15 years, and I've lowered my price for visual presentations because the software these days is easier to use. A full-time staff speechwriter in DC for a major league client can command an annual salary of $150,000-$200,000, so if I can produce three or four speeches a year for a client, I'm a bargain. Serious annual reports are higher because there is so much back and forth, editing, lawyer and CPA demanded changes, et cetera. I don't mark up out-of-pocket expenses, such as graphics artists, travel, et cetera. I've had three clients under contract for 15-30 years. Harry, you are operating in a semi-retired, something to do mode. If you were actually running a business with employees with their costs you couldn't be as generous with your time or fees. |
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