10:59 am, July 11, 2014

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  • What Congress giveth.....
    Big Joe
    The one thing I am struggling with is can I trust Congress to really leave the money in the ROth tax free? This isn't a Government worker issue....but one for all Americans that invest in the Roth. Twenty years from now when there are billions of dollars in tax-free earnings that Congress will be unable to tax, will there be "yet another" change to the rules? Until this year I would have said that it would never happen and is unethical for Congress to change the rules, yet we are seeing that every day from them now. The Roth sounds great, but the key pin to it being a benefit is ensuring Congress stays away from it..... Can you trust Congress?
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  • I wouldn't trust them
    Rob
    Congress is changing the retirement rules right now. There's no reason to think ROTH IRAs are safe and 20 years from now those ROTH 401Ks will be raided for sure. The only way you can "spread the wealth" is to seize the income, both earned and invested, from others. Everyone deserves a nice retirement right?
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  • Roth
    Moderate
    I know that when Roth IRA's came around in 1998, I converted them all to Roth. I have also contributed the max to my wife's account and my account. Nothing has happened to change the accounts. Perhaps the same will happen now. The only thing is I wish I could change my TSP to Roth without incurring an unreasonable tax bite (over the tax brackets i was in when I made the contributions). I would do so in a heartbeat. However, that is only my opinion and I am not a professional investor.
    worker
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  • What is Mike smoking today?
    FED UP IRS FERS FED
    "If you invest $10,000 and wind up with $1 million in your Roth account it is all yours". I just love these financial experts like Suze Orman (and Mike Causey--LOL), etc making believe that $1 invested today will climb to $10 or even $100 many years down the road. I have contributed the maximum amount allowed into TSP over my 25 year career. I don't have double of what I invested in sitting in my TSP now after all these years of the C fund. So folks, don't assume $10,000 will wind up being a $1 million. It just does not work that way despite all the so called expert claims.
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  • What's in Mike's Pipe?
    contrarian
    FUIFF: With the choices we have available in our TSP it's almost impossible to EARN your way to $1 million. That's why the frequent traders decided to buy on dips and sell on peaks, which everyone admits is hard to do. For example, the current bull run is a record that many of us got out too early and some missed entirely. Others will hang on too long and ride it back down, someday. But the real flaw is that we have a poor choice of investments since Wall Street has gamed the S&P500 since the dot.com era.
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  • Whatever Mike is smoking, we all need some!!!!!!!!!!!!!!!
    FED UP IRS FERS FED
    Agreed. Bad choices makes it worse. And Mike & his so called experts make it a lot worse sometimes. When the market was dying a slow death a few years ago when the DOW went from around 14,000 down to around 6,500, I was going to abandon the C Fund ship and park in the G Fund when the DOW was around 12,000 and appeared to be spiraling down. Mike & his so called experts kept writing everyday to stay put with the funds we were in and not attempt to time the market. I am not a market timer but that was one time I was going to do it for sure since I had a very bad feeling about the economy & the market at that time. Who knows where I would have jumped back in but one thing is for sure, I would have been a lot better off if I did not read Mike's column constantly advising to stay put. Makes you wonder if he gets a cut from somewhere.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Please do not blame Mike
    Moderate
    I do not believe Mike is a professional investor. he is just expressing his opinion. You have control and must make your own decision. I decided to stay in the G fund. Hindsight is always 100%. I have a feeling I was wrong, but I am not sure. However, it was my decision and I take full responsibility for it. I do have stocks outside of the retirement accounts so call it diversification.
    worker
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  • Roth for kids
    Linda
    A Roth IRA is a good investment for kids after they start working. You have to have earned income. A yes, investments do multiply over time. The issue is do you have the money to make the gift. When you kid or grandkid starts working at 15 or 16, match his/her earnings up to the $2,000 limit into a Roth IRA. At that age, they are paying little to no taxes, and all the earnings are tax free. They just have to make sure the earnings stay in there. You can take principal out with no tax and no penalties. But, read all the rules before taking distributions to be sure. But, what a way to give you kid a head start in life.................................... There is an old adage that if you put into a retirement account $2,000 a year from age 20 to age 30 and stop, you will still have more in it that if you put money in from age 30 to age 60.......................................... I to have put into the FERS TSP from the beginning and I went back and added up all that I had put in after the last crash to see if I even had more that I had contributed. Yes, by over double. Part of that is the matching funds, but still a good deal............And yes, I will be putting into the Roth if it ever gets here (Was supposed to be January!!!). I do believe tax rates will go up, they will have no choice with the spending going on. Will the money coming out of the Roth be taxed? We will have to see, but it is worth the risk. Right now almost 100% of my retirement is taxed. Only 15% of my SSA will not be taxed at this time. I am afraid of the rates will be in 20 years.
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  • Rather than a Roth
    Just me
    I would much rather have the law repealed which allows the Treasury to tap my retirement funds to cover gaps in funding (usually the debt ceiling.) If Congress hates feds so much that they keep vilifying us for issues, (over which WE had no control) then they can keep their hands out of our pockets.
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