where Posted September 26, 2020 Share Posted September 26, 2020 4 minutes ago, Elena Delle Donne said: withdrawals Link to comment Share on other sites More sharing options...
FaseIT Posted September 26, 2020 Share Posted September 26, 2020 I'm about to go to walmart later this morning and get some stuff probably some pencils to draw with. Link to comment Share on other sites More sharing options...
Dark_Knight Posted September 26, 2020 Share Posted September 26, 2020 11 hours ago, Elena Delle Donne said: these are questions for a financial advisor. the tax penalties on retirement-specific plans can be tough as hell on early withdrawals Dirty habit is my financial advisor I can also pull out of one of them with no penalty due to covid. There’s usually a 10% penalty tax. Link to comment Share on other sites More sharing options...
+plus+ Posted September 26, 2020 Share Posted September 26, 2020 On 9/25/2020 at 8:41 AM, Elena Delle Donne said: this is when you start building up and flipping bikes. weird old steel frames are calling Remember Brickos? He had the badass old school BMX bikes , so dope Link to comment Share on other sites More sharing options...
Dirty_habiT Posted September 26, 2020 Share Posted September 26, 2020 18 hours ago, Dark_Knight said: I have three different retirement plans. Figured I could drain one and sit on a lot. Union pensions keep getting fucked tho. So idk how much interest any of it will gain I would strongly suggest getting with someone that can help you adjust the investments your retirement money is being used on. This can result in a LOT more interest being earned if done properly and carefully. I think mine gained 11% last year..... which is pretty fucking ridiculous if you think about it. If you cannot get the interest gains you'd like to see out of your retirement, it may be worth taking the penalty to pull the money and reinvest it. This could be something like, buying another house to rent out so that you can get a recurring paycheck from renting a house out. If you do that with a few houses then you could live like a fat cat easily. Duplexes are best I think but they're expensive to get into. Link to comment Share on other sites More sharing options...
+plus+ Posted September 27, 2020 Share Posted September 27, 2020 been isolating, aint no one wanna chill right now. Been hanging out watching movies all day. 1 am and im drunk again just sad thinking about my friends who are fried on drugs or gone Link to comment Share on other sites More sharing options...
+plus+ Posted September 27, 2020 Share Posted September 27, 2020 I just get scared to sleep. I know its just dreams bt fuck that, its more dread of the next day. Finally process today then next day comes up Link to comment Share on other sites More sharing options...
Elena Delle Donne Posted September 27, 2020 Share Posted September 27, 2020 19 hours ago, Dirty_habiT said: I would strongly suggest getting with someone that can help you adjust the investments your retirement money is being used on. This can result in a LOT more interest being earned if done properly and carefully. I think mine gained 11% last year..... which is pretty fucking ridiculous if you think about it. If you cannot get the interest gains you'd like to see out of your retirement, it may be worth taking the penalty to pull the money and reinvest it. This could be something like, buying another house to rent out so that you can get a recurring paycheck from renting a house out. If you do that with a few houses then you could live like a fat cat easily. Duplexes are best I think but they're expensive to get into. yes. i was gonna get into this but it's also meaty enough for another thread entirely. you can reliably expect 7-8% average returns from an index fund, which is almost certainly what your pension is in. the stock market has been running hot in recent years; there were quarters when i saw 14% and i'm always earning at least 10%. if you feel like dipping into individual stocks of course you can make (and lose) more. yesterday i was reading about SPACs... easy way to lose it all, but 100%+ returns if you hit right. lots of people invest in real estate for passive income, either buying/fixing and renting/flipping a house by themselves or buying a stake in an llc formed to manage a property like a duplex (in this scenario there would be other investors). this is riskier and potentially more profitable in markets with more elastic demand (i.e. smaller cities more exposed to market swings). i'm in dc, which has had unparalleled and consistent housing demand for 20 years (though coronavirus is challenging that—another thread!) and is fairly inelastic, demand wise. meaning that prices here are already about at the ceiling, margins are thinner, and it's already very competitive—small investors are in the suburban and exurban counties surrounding the cities, not the city itself, because land itself is astronomical. that makes investing in housing here an ok-at-best option but you need to put in way more cash upfront and you're still only making 10-12% returns in home value year over year; the demand is there and consistent but it's not gonna blow anything out of the water. in dc proper annual rent increases are capped at 10% so you won't get more than that either. (ignore that this is in part me arguing to myself that i shouldn't buy anything here.) that's not to say you can't make money buying and keeping up a home. in fact in some ways it's a real good time to do so–interest rates are going to be nothing for like two years, per the fed, so it will be easy and cheap to borrow. that doesn't make an individual market a good idea or a bad idea, per se, it just adjusts the math on it. so when a downturn comes you're not stuck with fewer or no tenants and a mortgage at 5% or 6%, it's at 3-4%. looks like a small difference but it's $$$ in the long term. there are people who have modeled all of this and know much better than i do where to put money right now. i don't have any idea. i am sitting on $30k in liquid assets right now 🔥 small forum flex 🔥 and i don't have any idea where to put it. (up your ass, fella!) i might buy a car with some of it. Link to comment Share on other sites More sharing options...
Dark_Knight Posted September 27, 2020 Share Posted September 27, 2020 9 minutes ago, Elena Delle Donne said: . i am sitting on $30k in liquid assets right now 😴😴 Link to comment Share on other sites More sharing options...
+plus+ Posted September 28, 2020 Share Posted September 28, 2020 i'm sitting om 16k of debt batman step up your flex Link to comment Share on other sites More sharing options...
Elena Delle Donne Posted September 28, 2020 Share Posted September 28, 2020 sitting on the toilet shitting puffing the dro... strobe light effect everything moving slow Link to comment Share on other sites More sharing options...
Dirty_habiT Posted September 28, 2020 Share Posted September 28, 2020 Lol. You guys are cracking me up w/ your bird flipping emojis and debt comments. 😄 Link to comment Share on other sites More sharing options...
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