Search found 579 matches

by tampaite
Fri Apr 17, 2020 12:55 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Re: Excess Roth IRA contribution

Got it. Thanks.

I will be paying a penalty and convert the Roth IRA into a Traditional IRA if possible.
by tampaite
Fri Apr 17, 2020 11:42 am
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Re: Excess Roth IRA contribution

Another clarification needed. when do I have to pay this penalty if I chose to defer? (a) when it's time to withdrawal the money at age 59.5? (b) when am notified by IRS during an audit - (this is obvious) Every year 6% of the contribution with the tax returns. So in 16 years you will have paid the...
by tampaite
Fri Apr 17, 2020 11:06 am
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Re: Excess Roth IRA contribution

Another clarification needed.

when do I have to pay this penalty if I chose to defer?

(a) when it's time to withdrawal the money at age 59.5?
(b) when am notified by IRS during an audit - (this is obvious)
by tampaite
Sun Apr 12, 2020 4:12 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Re: Excess Roth IRA contribution

The 6% tax is levied every year until you withdraw the excess. So to "be ahead" your Roth IRA should be earning at least 6% nominal year-in and year-out. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits Thanks so it makes sense to pay the 6% p...
by tampaite
Sun Apr 12, 2020 3:47 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Re: Excess Roth IRA contribution

6% excise tax is charged on the contribution only, not on earnings. Thank you. Hypothetically, if the earnings on 2018 contribution was say 7% and i continue to incur 6% penalty - wouldn't I be ahead? https://www.irs.gov/faqs/irs-procedures/amended-returns-form-1040x/amended-returns-form-1040x You ...
by tampaite
Sun Apr 12, 2020 12:12 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 523

Excess Roth IRA contribution

Doing my taxes and I realized that I made excess contribution into Roth IRA for following tax years: 2018, 2019 and 2020 I can withdraw 2019 and 2020 and pay the necessary penalty before filing taxes(I intend to file in July than April due to Covid-19 extension). Q: what to do with 2018 contribution...
by tampaite
Mon Nov 11, 2019 8:45 am
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1056

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 7:49 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1056

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 7:34 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1056

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 7:11 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1056

Reduce Allocations

Delete
by tampaite
Fri May 17, 2019 1:15 pm
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1571

Re: how do Tariffs impact your portfolio?

Chuck wrote:
Fri May 17, 2019 12:10 pm
Tariffs decrease the efficiency of the economy, and lower overall returns. Nothing I can take action on, though.
Why not? If i say, company A efficiency is going down and your returns will be lower, you won't take any action?

How is this any different?
by tampaite
Fri May 17, 2019 11:25 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1571

Re: how do Tariffs impact your portfolio?

Not enough to matter. If I wanted to look like a fool and make a guess, I'd say there would be monetary and fiscal policy changes to offset the economic impact of the tariff war if it gets any worse. Don't underestimate your intelligence pls. Why would there be monetary/fiscal change? I mean why do...
by tampaite
Fri May 17, 2019 11:20 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1571

Re: how do Tariffs impact your portfolio?

MotoTrojan wrote:
Fri May 17, 2019 11:15 am

Why is it a positive for bonds? Because people will flock to them?
Theoretically, with less demand and in turn less supply, companies will make less profit and eventually stocks will be less attractive.
by tampaite
Fri May 17, 2019 11:11 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1571

how do Tariffs impact your portfolio?

The current Tariffs are considered biggest indirect tax increase. Indirect or direct, bottom-line, consumers will have to pay more towards goods than they would, which means more money is going towards the cost of increase thereby limiting discretion spending. How will this impact portfolio? I belie...
by tampaite
Fri May 17, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Going rate for real estate commissions, ATL
Replies: 11
Views: 1240

Re: Going rate for real estate commissions, ATL

Deleting my messages on this forum
by tampaite
Fri May 17, 2019 8:06 am
Forum: Personal Consumer Issues
Topic: Should I replace Prius Hybrid Battery?
Replies: 44
Views: 4263

Re: Should I replace Prius Hybrid Battery?

Deleting my messages on this forum
by tampaite
Thu May 16, 2019 6:10 am
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 5635

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:02 pm
Forum: Investing - Theory, News & General
Topic: Invest or Payoff Home
Replies: 38
Views: 3101

Re: Invest or Payoff Home

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:00 pm
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 5635

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 7631

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 7:22 pm
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 5635

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 5145

Re: Concerned about getting laid off

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 11:09 am
Forum: Personal Investments
Topic: $12,000 in Bonds from Grandparents and need help!
Replies: 11
Views: 1005

Re: $12,000 in Bonds from Grandparents and need help!

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 10:11 am
Forum: Personal Consumer Issues
Topic: Home warranty - is it worth the money?
Replies: 37
Views: 3412

Re: Home warranty - is it worth the money?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 226
Views: 43287

Re: Cash - Throw it all on the table!!!

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 5145

Re: Concerned about getting laid off

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 7631

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:55 am
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 5635

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 4832

Re: Worth Fighting a Speeding Ticket?

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Pay myself for pilot training or invest them?
Replies: 18
Views: 1393

Re: Pay myself for pilot training or invest them?

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:08 pm
Forum: Personal Investments
Topic: Account For Nieces
Replies: 22
Views: 1400

Re: Account For Nieces

Deleting my messages on this forum
by tampaite
Mon May 13, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 7631

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 7631

When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Move out or stay at my parents?
Replies: 70
Views: 5342

Re: Move out or stay at my parents?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Pay Cash
Replies: 21
Views: 2356

Re: Mortgage or Pay Cash

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 5:35 pm
Forum: Personal Investments
Topic: Please review my portfolio and retirement readiness
Replies: 10
Views: 1407

Re: Please review my portfolio and retirement readiness

Deleting my messages on this forum
by tampaite
Fri May 10, 2019 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Help me pull the trigger-need to quit
Replies: 41
Views: 5616

Re: Help me pull the trigger-need to quit

Deleting my messages on this forum
by tampaite
Thu May 09, 2019 8:50 am
Forum: Personal Consumer Issues
Topic: Whole House Surge Protection
Replies: 22
Views: 2489

Re: Whole House Surge Protection

Deleting my messages on this forum
by tampaite
Tue May 07, 2019 5:38 am
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 109
Views: 17350

Re: What if I Never Buy a House?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 109
Views: 17350

Re: What if I Never Buy a House?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 7:57 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5442
Views: 1350184

Re: What Movie Have You Recently Watched?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 7:56 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5442
Views: 1350184

Re: What Movie Have You Recently Watched?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 7:39 am
Forum: Personal Investments
Topic: Investment advise on savings.
Replies: 8
Views: 1218

Re: Investment advise on savings.

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 7:33 am
Forum: Personal Investments
Topic: Update on Great Personal Loss
Replies: 12
Views: 4014

Re: Update on Great Personal Loss

Deleting my messages on this forum