Hey team,
I am considered dumping about 1/3 of my rainy day fund into my Roth IRA for '17 in order to meet the maximum contribution. I will be starting in IB soon and will no longer be able to contribute to it due to the income limitations.
My thinking is when I am older it will be beneficial to have more $ stashed away in a tax free account. Anybody else run into this "problem"? I will be fine without the full rainy day fund amount but am also thinking about using that $ for a down payment/ring in 3-4 years.
Would I be better off pumping as much into my Roth while I can and using the big boost in comp from IB for future personal expenses?
You obviously have a lot of options on how to go about this. I was in the same boat as you, a couple of years ago, but I did contribute as much as I could into my Roth. Every once in a while I also do a conversion to put more money in my Roth, sure it is taxed, but the reasoning behind me doing this is that I'm not old and am more aggressive in my investment selection. Ultimately, the growth in my Roth will be tax free and I will have another savings "stash" for retirement.
Roth IRA (Originally Posted: 05/01/2010)
Hey all,
For all those people that max out the $5000 to a Roth IRA, does anyone have suggestions on which funds to look into? Curious to hear your thoughts...
Just use a broker like TradeKing - then you can invest it in whatever equities or ETFs that you want.
What do you guys think of this for a Roth IRA? (Originally Posted: 03/19/2010)
Guys,
I am a totally inept investor with no time to do my own homework, and I have been working with the same financial advisor for 5-6 years now. She's turned about 22K of roth contributions into over 40K in that time. I recently got into the following managed investment account and don't know what to think about it.
Can the people on this forum who have experience in the field tell me what you think about this:
www.presidentialbrokerage.com/.../%5EDAAS%20Aggressive%20December%2009…
I just want to put my money somewhere with an aggresive strategy, since I am young enough to take risks.
I appreciate your objective opinions.
Edmundo--can you please chime in especially? Thanks.
Link didn't work for me.
Me neither.
Link is no good.
Try this one
http://www.presidentialbrokerage.com/new/pdfs/%5EDAAS%20Aggressive%20De…
I looked real quick, however i thought i saw a management fee of 1.5%? Are there any other front/back end loads?. I would suggest you can do better with some low cost vanguard funds and an actively managed fund.
For aggressive actively managed equity, maybe buy Berkowitz's fund (Fairholme), Einhorn (GLRE), or Leucadia (LUK).
It looks like it has beaten the market 2 to 1 in the last 5 years, and those returns take into account the fees. The vangaurd funds don't really do much other than follow the market, right? Am I making a noob mistake in those observations?
Investing your post-tax IB salary in IRA? (Originally Posted: 06/07/2013)
I'm an incoming IB analyst at a MM firm in NYC and have been trying to figure out the best way to invest my money once I start. My company provides solid 401k matching up to 6% of gross income but I would like to invest more than that. I'm thinking of dropping an additional post-tax gross 6% into a Roth IRA and building out a portfolio with iShares Core ETF Funds (among others). Do any of you other monkeys out there currently invest post-tax income in Roth IRA's? What percent of your gross income do you earmark for investment every pay period? Do you pick individual stocks or just index? Interested to know what the zeitgeist is.
There was a very good thread about this not so long ago. Check it out but to sum up, don't invest 100% of your disposable income and mostly go on equities (index or single name, your pick).
Definitely max your Roth every year while you can. It won't be long before you make more than the maximum.
Stock Options in Roth IRA? (Originally Posted: 09/25/2013)
This seems way too good to be legal.
http://online.wsj.com/article/SB100014241278873245763045790731434087358…
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