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  1. #151
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
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    18,286
    NBA Team
    San Antonio Spurs
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    North Texas Mean Green
    Yes, should be around 3% minimum Fed rate. They should be allowed to go below that to deal with a crisis but only for 24 months max. An economy that can't support a 3% interest rate is a structurally unsound economy imo.
    Omg I've advocated this exact thing to go into law for years, on this message board and everywhere else.... but keynesians like RandomGuy always come up with dumb blasting me for it.

  2. #152
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    Also, they shouldn't be allowed to go below for *24 months max* ...2 whole years is a VERY long time and a very large chunk out of a lifetime. 2 months *max* seems more like it, if anything.

  3. #153
    Executive Mitch's Avatar
    Post Count
    6,415
    NBA Team
    Los Angeles Lakers
    I don't itemize. Itemizing gets you audited, especially at my bracket. Standard deduction FTW.
    Just do your research for your lying next time

  4. #154
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    Just do your research for your lying next time
    Not lying but... :o it appears you were on to something, something neither my friends nor my uncle and cousin who told me to do roth IRA, nor the bank and brokerage firm even knew what you were talking about... I'm going to get the money out of that roth account now (it never made anything anyway), and if someone ever tries to fine me over it, I will sue the bank, because it's their responsibility for asking me if I'm above some stupid income threshold or whatever. I've never even heard there was such a small draconian income threshold for roth IRA's. WTF.

    Looks like you gave me some grief but may end up saving me money and fits in the long run.

  5. #155
    Veteran SpursforSix's Avatar
    Post Count
    18,640
    NBA Team
    San Antonio Spurs
    Why would anyone max out a Roth as a consultant instead of using a SEP plan?

  6. #156
    Got Woke? DMC's Avatar
    Post Count
    82,671
    NBA Team
    San Antonio Spurs
    College
    Texas Longhorns
    Why does anyone still read Avante Jr's lying ?

  7. #157
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    So I went to Merrill Lynch this morning and was successfully able to back-date and reverse the 2020 and 2021 Roth IRA $6000 contributions that apparently I am not eligible for due to my high income. So averting a potential IRS penalty up to $720.00 over the two contributions. Thankfully they were able to do it and I'll get all my money back tax free since it was my contributions and I never earned any significant interest or bought any securities with the Roth IRA money.

  8. #158
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    Why would anyone max out a Roth as a consultant instead of using a SEP plan?
    I'm not self employed. All my income is on W2

  9. #159
    Executive Mitch's Avatar
    Post Count
    6,415
    NBA Team
    Los Angeles Lakers
    Why does anyone still read Avante Jr's lying ?
    I mostly don't, tbh. Hard to take a guy who wears woman's panties to his job at Lowe's seriously

  10. #160
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    Mitch saved me some monayz

  11. #161
    Executive Mitch's Avatar
    Post Count
    6,415
    NBA Team
    Los Angeles Lakers
    I saved you from digging deeper into a lie than you already did, andy

  12. #162
    44 / 50 Millennial_Messiah's Avatar
    Name
    Andrew
    Location
    Plano, TX
    Post Count
    18,286
    NBA Team
    San Antonio Spurs
    College
    North Texas Mean Green
    I saved you from digging deeper into a lie than you already did, andy
    no.

    I had to go to merrill lynch in person to fill out ing forms, one each for 2020 and 2021, officially acknowledging my roth IRA contributions were a mistake and shall not be officially processed. So the IRS won't charge me any penalties and I won't have a roth IRA. Oh well.

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