I can't understand why you and YTF don't lift at cha's as much as he will let you. I'm sure its probably a long drive or something, but having someone like that help with form is invaluable.

Explain this rollover thing. I never started a Roth. I think I still can cuz I'm lying about making all the money, though I don't think I can contribute fully.
Whats the advantage of rolling over from normal to Roth?

Btm,

But i pay taxes on withdrawal later, right? I contribute right now but not max. Maybe I should max.

no it was bc I cannot contribute to a Roth IRA. It's as if BTM did not ever stop and think that there were those who were unlike him. Male. White. Fat abz.
Hmm maybe I can contribute this year bc of gainz losses from starting a small biz. Instead of thinking about this I'll just do whatever my accountant says and worry about real problems like why is this sushi taking so ****ing long.

Guys this wasn't how to get LC posting frequency back up, what are you doing

Basically, everything Monte has said is correct. He should probably start charging a few basis points per post.

Anyone can have a roth, as follows

1. Make a traditional IRA (since your income is too high this contribution is not tax deductable, but it doesn't matter since we're ending up in a roth).
2. Contribute $5500 (i.e. annual max) to traditional IRA.
3. Convert traditional IRA to roth IRA
4. You will only owe tax on any appreciation between step 2 and step 3. If these are done close together (I do consecutive days), then there is no tax since that 5500 was already taxed and if you kept it in cash, there won't be any appreciation.
5. Once money is in roth, then buy what ever mutual fund, etf, etc. you want.

Once the money is in a roth, you won't pay taxes at withdrawal. Unless of course there is some change in laws, but the thinking is that is extremely unlikely.

The hardest part of all this is filling out the tax form next year. It's very easy to mess it up. In fact I had a CPA and he didn't do it correctly. There is a lot of info that you can google to show you how to do it. There's lots of wrong ways to do it that end up with you paying the same amount of tax, but they can increase your chance of an audit in subsequent years.

Watch more. It's not an episodic show, it's more like a long movie or miniseries cut into pieces. There's a great story arc. Episode 11 is the peak.

I will be getting my 2nd offer soon, today I think. Fitness related company, actually, with some interesting side perks. Groups runs/bike rides. Huge bike storage area and showers. Yearly alotment to buy sporting goods. Steep discounts on sporting goods from (some) brands. Access to (free?) tracking hardware (a guy I interviewed with was wearing both some kind of new wrist-based tracker and a posture tracker). If their offer is in my range I'm snap accepting. A few guys there even lift.

I think for YTF it has to do with his work schedule and distance, mainly. However, I think she should go multiple times per week anyway, come hell or high water.

For myself there are a few things at play:

1) It really kills the entire evening. I.e. it takes more time due to driving and stuff than going to gym/home then lifting.

2) I do like to lift with my wife. She doesn't like the idea of taking even longer to lift than it already takes.

3) I don't actually want to rely on lifting at Cha's for my lifts. I mean, I guess this just hasn't worked super well but it's not his job to make my lifts not suck, it's my job.

4) At some point it does get crowded at his place. I guess right now it's "just" him and Absolam so one more isn't a problem. 4+ starts becoming a bit ugh.

Btw, Absolam's brother used to lift there, then moved to not within 10 minutes away and never lifts there. Proximity is likely the largest issue here. I'd lift at his place every time for sure if it wasn't over an hour (round trip) out of my way.

Well this explains why I have money in a Roth IRA. Melkerson you're hired. BTM, you are banned and fired. Pick up your moped from Sharon on the way out.

Seeing detailed, correct posts from Melkerson is something that has long since ceased to surprise me.

Yugo I feel your pain. I do not lift at a superior weightlifting gym because it's about 45-60 mins away and I would have to not see my kids.

However, you only are 30 mins each way and you have no kids. Go now before Sra. Yugo pops out a few Yugettes. I mean right now. Go. Even if cha isn't there, just talk your way in.

Retirement planning is beta. You all should be empire planning:

1. Acquire cheap real estate
2. Rent out cheap real estate for income
3. Save income towards another down payment for more cheap real estate
4. Repeat

Oh god, managing real estate and/or tenants seems like one of the very worst things to do in life. Worse than clicking spoilered images jdock posts, or talking with saw about the direction arrows should point, or discussing Roth IRAs on a lifting forum.

DFII,

I am definitely too beta for that, although if I wasn't, I definitely would have done that ~6 years ago when I moved here.

Yugo,

Be thankful the conversation hasn't yet drifted to the optimal type and amount of life insurance coverage.

Maybe we can discuss optimal angle of fedora tipping and proper angle and amount of bow when holding a door open for the opposite sex?

Yeah as much as I like talking about Roth IRAs this is causing me to want to blow my brains out.

Where are seminekkid pics of hot trannies for ygos and me?

Does my self esteem dip proportionally to the magnitude of the bow, or just as I realize said women is much to hot to ever have sex with me (i.e. not that hot, but still)? It's an important distinction.

BTM,

Think of how many bps you earned today, though.

Over that way ------------------------------------->

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I've been considering this. My cousin has some properties in the Providence area.

Main concerns are dealing with tenants, upkeep, etc.

True.

I found out today that our biggest client who currently has $180 million in assets managed by us might be getting $250 million in inheritance. Some people have it so rough.

The Yugo,

Property management firms.

BTM,

Objectively how safe do you think the retirement planning profession is over the next generation? A friend of mine (late 20s, used to be a chef, great at talking to people, no college degree) is dedicating himself to finance. Right now he's gravitating towards being a broker like his father but he's not too sure of what that will even mean in 20 years. He'd prefer to do retirement planning stuff and I think it is more in line with his strengths as a people person, but he's equally unsure what that will look like in 20 years.

The correct amount of life insurance is 1.4mm and two pairs of underwear.

ETA: CONDO APPRECIATION

I think it'll change, but I think it's one of these things that's crucial and no one does it. I majored in math and knew exactly zero about personal finance until I was 22 and had poker money and was curious on my own about how to invest. So few people my age (31) know anything about this subject matter and it's kinda scary. I will probably retire 10-15 years sooner than most of my peers simply because I started investing so much sooner than they did.

I don't see how things are going to change for the next generation. Saving and planning for the future will always be important. How people invest may change and I do see things becoming more automated but there will always be people out there looking for an edge. Also, arbitrage possibilities should always exist as well. Whether or not they'll be profitable is another story, but that kind of business should always be around as well.

I think it likely dips in both cases. Although it of course depends on your personal ontology and metaphysical existence in that moment. Either way the result will likely be a sheepish smile from beneath said fedora, however, a moment too late to actually be noticed by said not--that-hot-but-still female.

You should have sex with him/her/it imo.

Don't want to tard up the LC thread, but this is not nearly as attractive an option as it appears for myriad reasons. However, real estate does have some outstanding advantages (tax and easier ability to leverage) that make this a reasonable option for some.

Are the two pairs of underwear worth 200K? Because otherwise that wouldn't even buy me a decent condo.