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Don't tell Obama

Old 03-02-2009, 07:29 PM
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Default Don't tell Obama

Last fall I made the decision to stay in the market with plan B as my backup. That is - or was -to hope the market recovered. Wrong again. Now to enact Plan B where I time the bottom (or near) pay the tax and convert to a Roth. The downside is I am betting the market tanks and I mean really tanks, just don't tell Obama.
Old 03-02-2009, 08:09 PM
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You sound like a solid financial advisor. I'll take your word, for sure...
Old 03-03-2009, 01:35 AM
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Fitts was on the radio this evening. She said we aren't even close to the bottom, yet. She thinks we are going all of the way down, a slow bleed.
Old 03-03-2009, 05:14 AM
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Plan B sounding better to me. With all the tax increases coming and 10+ years to go minimum hopefully it will pay off. Only time will tell.

It just sucks watching it bleed after grinding it out all these years.
Old 03-03-2009, 06:58 AM
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pound sand booker
Old 03-03-2009, 07:42 AM
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I wish someone would just duct tape that fu!%er's mouth shut! Everytime he opens it the market takes a dive! I don't have any money in it but my would-be clients do!!
Old 03-03-2009, 09:13 AM
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I saw a story on the Fidelity website that in 2010 you will be able to convert regular IRAs to Roth and pay the tax over 2 years instead of 1. I may arrange my compensation for 2010 and 2011 to do just that and minimize tax.
Old 03-03-2009, 05:13 PM
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You don't have to worry about arranging your compensation in 2010 (if the purpose was to do the conversion) as there are no income limits on the conversion for that year.
Old 03-03-2009, 05:20 PM
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I am not comfortable having anything in a retirement acct that is stateside where the fed govt can get at it.

And now I'm thinking paying taxes on retirement money now will cost me less than paying huge new taxes when I access that money in the future. Also avoid mandatory distribution rules. I can see my self generating an income, get hit with mandatory IRA distributions, and have my income pushed over some magic limit and lose 1/2 to taxes. I want my money clean, taxed, and out of the reach of the govt.

I want the govt as far away from my retirement dollars as possible.

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