Talking stocks, trading, and investing in general

[Piobaire]

I thought the SF Minimum Income was well above the cutoff for contributions to both a 401(k) and an IRA?

I thought the only 401(k) income limit was HCE/key employee and if your organization passes the top hat discrimination test? Same for 403(b) and there's no discrimination test with 457s. In fact, 457s were invented to get around this and were originally known as "rabbi trusts." I guess rabbis make big coin?

 

[Texasmade]

I thought the SF Minimum Income was well above the cutoff for contributions to both a 401(k) and an IRA?

No the SF income for middle class is well above the cutoff.

 

[otc]

I thought the SF Minimum Income was well above the cutoff for contributions to both a 401(k) and an IRA?

SF is also a big fan of the backdoor .

Also, there's no income limit for a traditional IRA--even if you can't do the backdoor, you lose the tax deduction, but you still have sheltered growth which can pay off in the right circumstances.

And for the big timers: I've written here about the "Mega Backdoor Roth" before. Saw this post the other day that implies that Fidelity has just made it *way* easier to do a mega backdoor if your 401k is through them. With some institutional backing, it might be easier to convince employers to set up 401ks in a way that allows this.

 

[patrickBOOTH]

What is the backdoor?

 

[patrickBOOTH]

nvmd, just looked it up. I'd like to be able to do that with the 401k too...

 

[Piobaire]

Kind of happy I sold that big tranche of the S&P fund I posted about several weeks ago and moving it over to VFIDX, a Vanguard intermediate bond fund.

 

[patrickBOOTH]

Nice humblebrag, brah.

 

[jcman311]

What is the backdoor?

TWSS!

 

[jbarwick]

My 401k is now through Fidelity and we allow after-tax contributions. I will need to read up on this for next year as we are fine this year.

 

[Piobaire]

Nice humblebrag, brah.

Actually, it was designed to be contrast to the oft seen on Sty-Fo retrospective announcement on trades (regulars here in this thread don't tend to do this but just within the last week someone in the CE did it big time.) I hung ****** out when I told everyone I was moving a big tranche out of the S&P into bonds and could have well had egg on my face at this moment. I'm also tickled at the move's success as I've never been shy about admitting I'm 95% "buy an index and hold indefinitely."

 

[patrickBOOTH]

I'm just joshin' ya. Old coots like you can't mess around! Plus you've been mentioning a Very Secret reason for your moves recently.

 

[Piobaire]

I'm just joshin' ya. Old coots like you can't mess around! Plus you've been mentioning a Very Secret reason for your moves recently.

Part of the reason is not secret, namely, my impending old age. The part that is secret has accelerated and will either happen or not happen by the end of the year. If it happens I'll talk about it.

 

[ThinkDerm]

Part of the reason is not secret, namely, my impending old age. The part that is secret has accelerated and will either happen or not happen by the end of the year. If it happens I'll talk about it.

Congrats on the huge news

 

[patrickBOOTH]

Part of the reason is not secret, namely, my impending old age. The part that is secret has accelerated and will either happen or not happen by the end of the year. If it happens I'll talk about it.

I support whatever surgery you plan to get.

 

[brokencycle]

Part of the reason is not secret, namely, my impending old age. The part that is secret has accelerated and will either happen or not happen by the end of the year. If it happens I'll talk about it.

Impending? You're old already. I'd call you out for being a ***** too, but I saw Ed's **** today, and I can't unsee that.