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Old January 6th 18, 09:59 PM posted to rec.boats
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Default Is everybody happy with they new tax law


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

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Old January 6th 18, 10:01 PM posted to rec.boats
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Default Is everybody happy with they new tax law

On 1/6/2018 3:59 PM, 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



Hey, congrats. Marrying off a daughter is a major financial
accomplishment! :-)

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Old January 6th 18, 10:05 PM posted to rec.boats
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Default Is everybody happy with they new tax law

On Sat, 6 Jan 2018 14:59:43 -0600, 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


From what I can see, I'll come out about $3500 to the good. I can't bitch much. And, since 'only the
top 1% will benefit', I'm right up there with the rich guys! I never knew I had it so good.
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Old January 7th 18, 03:13 AM posted to rec.boats
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Default Is everybody happy with they new tax law

On 1/6/2018 3:01 PM, Mr. Luddite wrote:
On 1/6/2018 3:59 PM, 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



Hey, congrats.¬* Marrying off a daughter is a major financial
accomplishment!¬*¬*¬* :-)

It's not as good as you think, yet.
She applied to 3 dental schools, one has declined, one put her on a
alternate list and one answer yet from the third.
We will pay for the dental college if she is accepted.
Mikek

PS. yes deductions for a child are not as good as emancipating a child.
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Old January 7th 18, 04:35 AM posted to rec.boats
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Default Is everybody happy with they new tax law

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!





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Old January 7th 18, 05:42 AM posted to rec.boats
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Default Is everybody happy with they new tax law

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

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Old January 7th 18, 05:43 PM posted to rec.boats
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Default Is everybody happy with they new tax law

On 1/6/2018 10:42 PM, 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.


Inflation and Healthcare costs are big concerns when contemplating
retirement.
If you can withstand market downturns* back testing shows having
80% plus invested in stocks/mutual funds will result in the highest
ending NW.
Here are two retirement calculators. Firecalc is my favorite.
You can input data and within an hour you will figure all the inputs
that you want to adjust. It's pretty simple but powerful.
The back testing is taking your portfolio and investing it in 1871 and
following it 30 years with you withdrawing income each year. Then
graphing it. Then repeating this starting in 1872. This is done every
year until the present. All the lines are presented on one Graph, any
line that dips below zero is a failure. Then you need to decide are you
comfortable with a 96% chance of portfolio success. 1973 and 1974 were
bad times to retire with a portfolio. Info on the website.
https://www.firecalc.com/

CfireSim is another, many people like it as well, but I found it more
difficult to use, Maybe because I started with Firecalc and liked it so
well. I think it might be a little more detailed.
http://www.cfiresim.com/



If you have any questions about Firecalc, ask me.

Mikek
* if you have enough money to generate enough income to get you through
the downturn, in the end you will have more money if you invest a
higher percentage in the market, 80% plus. This is using historic data,
will history repeat?


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Old January 7th 18, 06:20 PM posted to rec.boats
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Default Is everybody happy with they new tax law

On Sat, 6 Jan 2018 20:13:01 -0600, amdx wrote:

On 1/6/2018 3:01 PM, Mr. Luddite wrote:
On 1/6/2018 3:59 PM, 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



Hey, congrats.* Marrying off a daughter is a major financial
accomplishment!*** :-)

It's not as good as you think, yet.
She applied to 3 dental schools, one has declined, one put her on a
alternate list and one answer yet from the third.
We will pay for the dental college if she is accepted.
Mikek

PS. yes deductions for a child are not as good as emancipating a child.


If you live in a state with state income taxes, a 529 plan may be a good way to go. Every dime I put
into a plan for grandkids is deductible from state income taxes in Virginia. Granted, it's only
about 6% in Virginia, but that's better interest than is available most other places. Being over age
70, I'm not limited as to how much I can deduct.
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Old January 9th 18, 01:33 AM posted to rec.boats
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Posts: 163
Default Is everybody happy with they new tax law

amdx wrote:
On 1/6/2018 10:42 PM, 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.


Inflation and Healthcare costs are big concerns when contemplating
retirement.
If you can withstand market downturns* back testing shows having
80% plus invested in stocks/mutual funds will result in the highest
ending NW.
Here are two retirement calculators. Firecalc is my favorite.
You can input data and within an hour you will figure all the inputs
that you want to adjust. It's pretty simple but powerful.
The back testing is taking your portfolio and investing it in 1871
and following it 30 years with you withdrawing income each year. Then
graphing it. Then repeating this starting in 1872. This is done every
year until the present. All the lines are presented on one Graph, any
line that dips below zero is a failure. Then you need to decide are
you comfortable with a 96% chance of portfolio success. 1973 and 1974
were
bad times to retire with a portfolio. Info on the website.
https://www.firecalc.com/

CfireSim is another, many people like it as well, but I found it more
difficult to use, Maybe because I started with Firecalc and liked it
so well. I think it might be a little more detailed.
http://www.cfiresim.com/



If you have any questions about Firecalc, ask me.

Mikek
* if you have enough money to generate enough income to get you through
the downturn, in the end you will have more money if you invest a
higher percentage in the market, 80% plus. This is using historic data,
will history repeat?



I've played with similar calculators in the past. I'll give these a try.

Thanks!


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