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cowofwar posted:This might be a stupid question, but my broker lists 'wire transfer' as having a $35 fee. I have a national bank account connected to my brokerage account, do you think moving money between these accounts counts as a wire transfer? Seems brutal if it does. Might not be right for your particular broker, but Schwab says wire transfers are $25 and I have never paid that fee to transfer money from my bank to Schwab or vice versa. It must be a completely different type of transaction.
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Apr 8, 2011 22:07
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taqueso posted:Might not be right for your particular broker, but Schwab says wire transfers are $25 and I have never paid that fee to transfer money from my bank to Schwab or vice versa. It must be a completely different type of transaction. This is because at least from Bank -> Schwab, it is tagged as a "debit purchase" not a balance/fund transfer. Not exactly sure how the Schwab -> Bank doesn't count as a wire transfer, but then I use ING to pull from any of my accounts.
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Apr 9, 2011 07:15
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Really the difference is speed as far as I can tell. If you move money from a bank to another bank, it's treated like a check and takes a few days for the funds to work it's way through. If you specifically set up a wire transfer, the money moves immediately.
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Apr 9, 2011 14:44
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I'm looking for recommendations for a retirement plan. I'm 25 and am in military training. I have several 401ks from previous jobs. I've heard that the military doesn't have a good retirement plan, so I'm looking to set up a personal, non-employment-linked retirement plan. I want an index fund with no fees and a minimal expense ratio. I plan to transfer the money from my existing accounts into it, then start paying into it with my new salary. Should I just pick a high-cap 401k index fund from Vanguard that tracks the S&P 500? Alternatives like an IRA? I gamble on risky short-term investments as well, but I'm not looking for information on that; I'm looking for a place to dump money into until I retire. Edit: Read the Fool article in the OP; sounds like I need an IRA (leaning towards Roth) rather than a 401k. Dominoes fucked around with this message at 20:37 on Apr 9, 2011 |
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Apr 9, 2011 20:27
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Stupid Question: A few months ago I switched jobs. My old job had a 401k and I haven't done anything with it. I'd like to roll that over to a traditional IRA (preferably by directly transferring the money from the 401k to the IRA). My plan administrator at my old job sent me the forms to do the transfer, but I never got around to it until now. Just to be clear, there's no time limit for me to roll the 401k over to a traditional IRA, right? Does the 60 day time limit only apply if I receive the 401k money myself and then transfer to money to a traditional IRA?
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Apr 9, 2011 23:25
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Dominoes posted:I'm looking for recommendations for a retirement plan. I'm 25 and am in military training. I have several 401ks from previous jobs. I've heard that the military doesn't have a good retirement plan, so I'm looking to set up a personal, non-employment-linked retirement plan. The United States Military? The United States Military could have about the best retirement options available, if you stay 20 years. You get a permanent, inflation adjusted pension and free healthcare (tri-care) for the rest of your life starting the day you retire from the Military, which for you could be at 45. Also, Military members are also eligible to contribute to the TSP which is perhaps the best 401(k)-like option in the country. You get 4 index funds that track 4 of the major indexes (C=S&P 500; S=DJ US Completion TSM; I=MSCI EAFE; F=Barclay's US Bond) and a 5th fund, the G Fund that works on US Treasuries. There are also 5 life cycle funds that uses automatic combinations of the above funds. The best part of the TSP is that the 5 basic funds give you expense ratios of about .03%. That's about 3 times lower than anything else available and 25-50 times lower than things that some 401(k) plans offer. Rolling your 401(k) plans into a roth will create income that will need to be taxed. If you are eligible for the TSP, you can get huge tax advantages by just rolling them into the TSP and keeping them tax free. You could keep them separate and roll them over while your income is low, but the bet on ROTH's is on major long term tax code overhauls that radically increase rates AND reduce or eliminate credits. I don't think both are likely. State taxes do complicate things, but the thing to remember is that Roth Contributions are taxes at your marginal rate, where a 401(k) distribution is taxed like regular income. Your contribution will be currently taxed at rates like 25% (income dependent) where the withdrawls under the current system would have a net rate that is much lower (not to mention the fact that more of your money is yours now, vs the governments). Edit: ROTH has the advantage of being able to withdraw the principal penalty free for certain purposes or after 5 years. You lose that with a 401(k). However, most people who withdraw from their ROTH do it for housing purchases, medical expenses or unexpected financial hardship. As a military service member you would have contingency plans for all 3 of these. The pension means that you should have some income for the rest of your life and not need the hardship money (or reduce it greatly). The Tri-care nearly eliminates your medical expenses and greatly reduces the chances that you would need that. Finally, there are so many military home ownership programs that help service members it makes the penalty of withdrawing from your retirement downright foolish. The VA and other programs provide for heavily subsidized loans that have reduced (or eliminated) down payment requirements. References: https://www.tsp.gov/investmentfunds/fundsoverview/comparisonMatrix.shtml http://www.benefits.va.gov/homeloans/pamphlet.asp KennyG fucked around with this message at 23:50 on Apr 9, 2011 |
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Apr 9, 2011 23:28
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The first half of KennyGs response is good, but I'm going to disagree on the TSP. It's great for a super hands off approach (like you physically can't touch it until you separate) but you can do better yourself. Secondly, processing the money involves dealing with bloated government communication systems. I use Vanguard and dump my Roth IRA into the Target Retirement 2050 fund, then play with individual mutual funds and stocks through their brokerage as I see fit.
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Apr 9, 2011 23:40
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xaarman posted:The first half of KennyGs response is good, but I'm going to disagree on the TSP. It's great for a super hands off approach (like you physically can't touch it until you separate) but you can do better yourself. Secondly, processing the money involves dealing with bloated government communication systems. He said "I want an index fund with no fees and a minimal expense ratio." You can't beat the TSP for that. Yes, doing the roll over took about 10 days and required going to an office of the brokerage, but it's a one-time headache that will have thousands of dollars in benefits after 30 years. Show me the index fund that has a <.03% expense ratio. Also, these are retirement funds. One should not be touching retirement funds before... retiring. He also said he had other more aggressive/hands on investments covered. I stand by statement that rolling into a ROTH would be sub-optimal for a military service member saving for retirement.
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Apr 9, 2011 23:50
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Same vein... If you have a 401k from a previous employer and you want to roll it in to a Roth IRA, does it get taxed on the way? Or does it depend on amounts and time?
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Apr 10, 2011 00:19
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Untagged posted:Same vein... If you have a 401k from a previous employer and you want to roll it in to a Roth IRA, does it get taxed on the way? Or does it depend on amounts and time? Tax, at your marginal rate. You could pay up to 35% in tax, likely 25%. The problem in ROTH conversion (and contributions) is that it is without credits, deductions, offsets or other goodies that lower your tax rate (with very limited exceptions). It's taken 'at the end' of your tax calculation. On the other hand 401(k) when withdrawn as retirement income, it acts like your regular income now in that you take your income with your annual deductions, contributions and credits. Look at your income return and figure out how much tax you paid vs how much money you really made (Gross Income). It is significantly less than the marginal rate. (That's how GE paid $0 tax) Quick example. If you had $100,000 of true Gross Income, but paid $2,000 in health insurance, $25,000 in mortgage interest, and contributed 10% ($10,000) to your 401(k) and $5,000 to a ROTH(non deductible). This leaves you with 63,000 in AGI. Even worse case scenario of single, only claiming your self, you get $9,350 off the top of that for your standard deduction and personal exemption. Now you're down to $53,650. Ignoring all other possible credits and incentives, you're tax burden would be $9,594 or 9.59%. That's less than 10% of your Gross Income. If you put that $5,000 from your ROTH in your 401(k) your tax burden would go down to $8344, or 8.34%. The problem is that the ROTH is being taxed at 25% because of the structure of progressive tax tables. You won't have the mortgage interest deduction in retirement (hopefully) but you have larger exemptions and likely less need for income. As we've seen because of the marginal method of calculating, even a small change in income can have a big impact in tax burden. Even doing the withdrawal math with only the standard $9,350 deduction it doesn't make it back to he marginal rate until you withdraw at nearly twice the rate of income as you had when you deposited. Few people plan to have 200% of their working income in retirement, most people shoot for 75%-115% KennyG fucked around with this message at 04:00 on Apr 10, 2011 |
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Apr 10, 2011 03:56
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Thanks. Looks like the best option for the tiny amount I do have is to just roll it over in to a new employer 401k account. Reason I ask is I don't have much in it, and after starting with a new account, I was looking for a good foundation to start an Roth IRA. Guessing this would not be the best source of initial funding for that endeavor.
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Apr 10, 2011 04:41
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Since I've maxed out my Roth for 10' and 11, I've decided to play around with my current mix a little but. I currently have 90% in stocks a 10% in bonds; my target is to have 70% in stocks and 30% in bonds. Would this be a good idea or should I stick with having 90% in stocks? Also, can anyone give me a brief explanation on what "Short-term reserves" are?
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Apr 10, 2011 10:50
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obi_ant posted:Since I've maxed out my Roth for 10' and 11, I've decided to play around with my current mix a little but. I currently have 90% in stocks a 10% in bonds; my target is to have 70% in stocks and 30% in bonds. Would this be a good idea or should I stick with having 90% in stocks? We have no idea how old you are, so we can't really tell you what blend is good, but if you've been putting money into a 2050 fund because that's actually a date when you plan to retire, then 90/10 is alright. The "rules of thumb" for this are 100/120/125 minus your age in stocks is the right mix for a conservative/moderate/risk-liking person. That said, there's a lot of other advice that contradicts this. Quite a few people say that you should never have less than 20% in stocks or bonds, period. Also, I don't remember the exact number, but stocks gained something like .7% between 2000 and 2010, so some would argue that you should have more in bonds to counterbalance this. There are investment guru's who say that you should be between 60/40 stocks/bonds and 40/60 stocks/bonds and anything else is overweighted (they also intentionally said that sufficient diversification was possible with this, so they had 0% REITs, commodities, options, etc.). It all depends on who you listen to and how willing you are to bear risk. Frankly, the best way to determine your risk appetite is to figure out how much money you'll need at retirement based on how long you expect to live and what you think you'll be spending, and then run the numbers backwards to determine how much needs to be invested at what rate of growth to get you there. This requires making a lot of assumptions and rarely says that people are being too risky, but it's nice to run the numbers because it also lets you know if you're saving enough. Anyway, "short term reserves" are basically cash and cash-like instruments that generate a small return and are highly liquid. Depending on who you ask the time differs, but generally positions that could be closed in a year would count. Cash/Savings/Money Market accounts are certainly this, and so are sufficiently short term CDs. T-bills probably count as well, since they're so liquid. Some would argue that short term corporate bonds would also count, but there's enough risk in corporate bonds that this would be skating an edge.
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Apr 10, 2011 13:57
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I need to add some fixed income investments to my RRSP and I'm really not sure what to go with. With stocks/funds etc I can pretty much buy into them and them other then rebalancing I don't have to worry much about them unless I decide to get rid of it and change to something else. How does that work in terms of fixed income things like bonds, gics etc? Would I bet better off getting a fund/stock that tracks a bond index instead of buying the actual bonds/gics for 3/5/10 year etc? I would be looking at about $3-4k worth if that matters.
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Apr 14, 2011 19:16
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asmallrabbit posted:I need to add some fixed income investments to my RRSP and I'm really not sure what to go with. With stocks/funds etc I can pretty much buy into them and them other then rebalancing I don't have to worry much about them unless I decide to get rid of it and change to something else. At least in the US, what you seek is a Bond Fund. It's essentially a mutual fund that holds bonds instead of stocks. They do the management effort, charge you a fee, and then take care of all the overhead of research, rebalancing, dividends, etc. I don't know what options are available inside your RRSP, but that's what you are looking for. PTTAX and VBMFX would be examples.
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Apr 15, 2011 04:04
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I am a 21 year old in the military. I want to start contributing to and maxing out a Roth IRA. I have been putting it off because I keep trying to set one up through USAA but I get to the stage where you have to pick mutual funds or an age that you want to retire, and I have no clue (military isn't going to be my long time career). It feels like I am taking a risk when choosing these and I need to find some modest ones to put my money into that are available through USAA. Can I get guidance on this?
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Apr 15, 2011 18:59
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Progression Please posted:It feels like I am taking a risk when choosing these and I need to find some modest ones to put my money into that are available through USAA. Can I get guidance on this? The most important thing you will ever do in your investing career is to start.
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Apr 15, 2011 19:21
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Are you putting money into the TSP? I'd recommend investing in the C fund because the expense ratio is low and its the same S&P 500 index everyone else uses. All of USAA's mutual funds kinda suck IMO. If you really want a Roth IRA I'd just buy a Vanguard target retirement fund through USAA since you probably don't want to babysit the fund. The expense ratio is probably close to the lowest you'll find also. Also when you get deployed put some money in the SDP because its a 10% return, a lot of people don't take advantage of this.
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Apr 15, 2011 19:28
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Pram posted:Are you putting money into the TSP? I'd recommend investing in the C fund because the expense ratio is low and its the same S&P 500 index everyone else uses.
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Apr 15, 2011 19:34
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Hey guys, I'm going to be getting around $400 dollars a month in a new incentive pay that I'd like to be funneling out to do good things. I asked about good dividend stocks in the stock-picking thread but said I was leery about buying straight stocks (Got burned on Citi waaay back when it took a plunge, I am now skittish) and they recommended Index Funds and coming to this thread. Ideally I'd like quick liquidity, not sure how index funds work. I don't really have a goal for the money, just a rainy day fund I guess. Honestly I'm mostly just looking for good strong stocks with reliable dividends that are automatically reinvested, utilities/energy companies are preferable, what do you guys recommend? I'm already balls-deep in roth IRAs for my wife and I, a 5% matching contribution to the TSP, savings for our kid(s), emergency repairs savings, and emergency everything-else savings, and our regular savings cushion.
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Apr 15, 2011 22:01
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TheUnhorse posted:Hey guys, A lot of people argue that you should stay away from index funds until you have at least $100,000 as the trading fees will eat your returns otherwise.
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Apr 16, 2011 01:17
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Wow that's great advice, thanks! Do you recommend any mutual funds?
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Apr 16, 2011 01:31
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TheUnhorse posted:Wow that's great advice, thanks! Do you recommend any mutual funds? As with any investment strategy figure out your portfolio distribution, so % shares/bonds/etc. Once you've done that decide whether you want to go the easy route and pick up fund products to meet those percentages or invest directly. You can find different types of investment vehicles for each class. Then figure out the sector you want for that particular area of your portfolio. At that point you can then look at the funds your broker has available. They will differ in their strategies, holdings, MERs and a couple other things. The trick is to find one that has low fees and is transparent enough that you know exactly what they are doing.
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Apr 16, 2011 01:56
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TheUnhorse posted:Wow that's great advice, thanks! Do you recommend any mutual funds? If you don't mind my asking, what is your investment goal? If you had to guess where this money would go, what do you think it will be? Car? Boat? Booze and Hotpants? 'General Rainy Day' funds don't belong in the stock market. If you are talking about investments with a risk of loss you need to know your time horizon. If it could start raining next month or next year, that could be very bad for money invested in a stock or bond based vehicle. If you want to save an extra $400 a month, I would suggest taking $100 and putting it in one of your emergency funds and upping your TSP contribution in a percentage that would amount to $300/mo or $3600/yr. Yes, you get no benefit from Uncle Sam up front for matching, but look at the expense ratios of the funds you would be investing in vs the TSP funds. A simple vanguard S&P 500 fund vs the C fund is 3x the expenses of the TSP. That's basically free money. You can't withdraw it before 59.5 without a big penalty, but you are already saving for emergencies, right. With 3 different emergency funds and a ROTH to pull from in case of OMG emergencies, I would say that putting the bulk of that to retirement would be the way I would go, unless you had some sort of idea of what you wanted to spend it on. If you're like me, without a plan, it's very easy to find a need for something when you get cash piling up.
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Apr 16, 2011 03:02
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cowofwar posted:Also my broker has a huge number of canadian mutual funds available (many companies offering similar funds). Any suggestions on which mutual fund companies provide the highest quality funds with lowest MERs? I'd say TD e-Series again, but I don't think that you can buy them outside a TD account. Here are the MERs if you're interested. RBC also offers relatively low-fee mutual funds.
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Apr 16, 2011 03:57
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I bought the Four Pillars of Investing by William Bernstein a couple weeks ago and I can't make it more than 5 pages without getting bored out of my mind. On the plus side, I've been able to fall asleep a lot sooner reading before bed.
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Apr 17, 2011 19:58
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Canadian here. Also, I'm talking about my husband's funds since I'm still a student/just got residency/don't have retirement accounts yet (no income for an rrsp, still waiting on bank stuff to start a (5k?) TFSA, it's alright I'm young enough). Anyway. I think I'll be moving the RRSP into ETFs at Questrade. They're going to be at about 60k when filled up by the tax return, which is all the contribution room we've got. Since we have over 50k and we'll be rebalancing annually to fill up the new cap (correct me if I'm wrong about this and it's not a once per year increase); and Questrade only charges 1 cent a share (minimum $4.95 a trade, maximum $9.95), our fees shouldn't increase. We'll also have the benefit of all the options that come with being with an actual broker, should we ever want to take advantage of them. And lastly, TD's hosed around on us too much surprisingly - constant goading to get into their mutual fund up to sticking a mutual fund we never bought or agreed to into our portfolio (their admitted "mistake", they reversed it), making errors with things such as account numbers when we have clearly provided the correct information in a documented format... Basically, I know everyone makes mistakes, but they've left a bad taste in my mouth that pushed me to consider ETFs even more strongly now that I know that we've hit our cap. My question is, what would you guys recommend in terms of asset allocation? I was thinking of starting with the first model in http://canadiancouchpotato.com/model-portfolios/ but last time when I started with their TD one (second model), I was told that it was really Canadian heavy. At that point I went with 10% Canada 10% Japan, and, just my luck, half a week later Japan had that whole earthquake/nuclear disaster that bit a little chunk out of that portfolio (48.5kish down from 50k initially put in). Oh well, poo poo happens, couldn't have predicted that. I'm just not sure what to rebuy right now... Also, I'm not sure what to do with our TFSA's. Husband will have 15k limit, I will have 5k limit in a while, we should be able to at least drop 10k into that but if things go really well we may be able to max them both. At Questrade, the TFSA can be used like a trading account. So what kind of stuff would best take advantage of its tax-free nature? Should I just stuff it with the indexes like the other account, or perhaps consider other kinds of perhaps short-term type investments (once I've done thorough reading, of course)? I know the main answer to that is "Stock Picking thread is that way", but what would be a good total allocation for bonds (husband is early to mid 30s, I am much younger), index etf's, and maybe some small "other" category (dividends/specific companies I firmly believe will do well/a small subsection for betting after a panic, etc); and how do I split it between the RRSP and TFSA's to best take advantage of no taxes? In case it's relevant, children are out of the question and we are not considering purchasing property due to a combination of stupidly low rent for our area (575 a month for a one bedroom next to any store you'd want to walk to + a bus stop that goes straight into downtown and the metro within 20 min; rent cannot legally increase more than around 1% a year outside of major tax hikes/major repairs); and the poor looking quality of new condos being built that get sold for absurd prices - starting at $150k for one room in a crappy area and easily into the $300k ++ if you want anything decent. Culinary Bears fucked around with this message at 17:48 on Apr 18, 2011 |
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Apr 18, 2011 17:37
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xaarman posted:I bought the Four Pillars of Investing by William Bernstein a couple weeks ago and I can't make it more than 5 pages without getting bored out of my mind. On the plus side, I've been able to fall asleep a lot sooner reading before bed. You're definitely going to be interested in targeted retirement funds. Pick the year you want to retire and let them handle everything. Probably not perfect for everyone, but you can't go too too wrong (especially if an easy to read and quite interesting book like Four Pillars bores you so much. You should probably get checked for ADHD or something).
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Apr 18, 2011 20:22
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So after I've contributed my 'max' amount to my 401k and maxed out my IRA Roth for 2010 and 2011; what is the next step for me in terms of investing? Edit: I was fooling around in Vanguard for a bit, and it seems that I've accidently saved my 'target' goal (for the 2050 fund) to 80% stocks and 20% bonds. I'm assuming that this means, over time the funs will change into this and that a majority, if not all the funds in the 2050 fund are exactly the same.
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Apr 18, 2011 20:39
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gp2k posted:You're definitely going to be interested in targeted retirement funds. Pick the year you want to retire and let them handle everything. Probably not perfect for everyone, but you can't go too too wrong (especially if an easy to read and quite interesting book like Four Pillars bores you so much. You should probably get checked for ADHD or something). My Roth IRA is with the Target Retirement 2050 fund. Other than that, I have random money in FSDAX, VEIEX, VGSIX, and a few others. Thanks for the comment about ADHD, but I'm good - I'm sure if I gave you my airplane tech manuals you'd feel about the same. (  )
xaarman fucked around with this message at 01:56 on Apr 19, 2011 |
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Apr 19, 2011 01:32
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Goddamn posted:Anyway. I think I'll be moving the RRSP into ETFs at Questrade. They're going to be at about 60k when filled up by the tax return, which is all the contribution room we've got. Since we have over 50k and we'll be rebalancing annually to fill up the new cap (correct me if I'm wrong about this and it's not a once per year increase); and Questrade only charges 1 cent a share (minimum $4.95 a trade, maximum $9.95), our fees shouldn't increase. Goddamn posted:My question is, what would you guys recommend in terms of asset allocation? Goddamn posted:Also, I'm not sure what to do with our TFSA's. Husband will have 15k limit, I will have 5k limit in a while, we should be able to at least drop 10k into that but if things go really well we may be able to max them both. At Questrade, the TFSA can be used like a trading account. So what kind of stuff would best take advantage of its tax-free nature? Should I just stuff it with the indexes like the other account, or perhaps consider other kinds of perhaps short-term type investments (once I've done thorough reading, of course)? Question of my own: Anybody have any thoughts on fundamental indices vs cap-weighted? I like that they try to avoid overweighting companies when they're most overpriced, and they implicitly contain the value and small-cap tilts that tend to be favoured. What I don't like is the higher MER and that they're pretty thinly traded.
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Apr 19, 2011 04:37
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spoof posted:
0% like you have is far too low unless you have been in one of the big bear markets and have seen your entire retirement account drop 50% or more and still think you were doing the right thing. Usual easy answer would be age as % in bonds.
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Apr 19, 2011 13:06
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My roth ira is maxed through Vanguard. My employer offers no match on our 403(b). The lowest expense ratio of funds offered seems to be .47% on a target retirement fund from Mutual of America. Does rule 3 still apply, or should I just open another fund on vanguard with a low expense ratio?
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Apr 19, 2011 20:04
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unprofessional posted:My roth ira is maxed through Vanguard. My employer offers no match on our 403(b). The lowest expense ratio of funds offered seems to be .47% on a target retirement fund from Mutual of America. Does rule 3 still apply, or should I just open another fund on vanguard with a low expense ratio?
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Apr 19, 2011 20:09
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unprofessional posted:My roth ira is maxed through Vanguard. My employer offers no match on our 403(b). The lowest expense ratio of funds offered seems to be .47% on a target retirement fund from Mutual of America. Does rule 3 still apply, or should I just open another fund on vanguard with a low expense ratio? Contribute. If you're posting here, you likely can't qualify for an employment rollover. However, you can roll that money upon separation into a personal, traditional IRA. This will allow you to get more money into tax advantaged accounts. All that not withstanding, imagine you are single in the 25% marginal bracket, making a gross of $75,000. If you contributed 10% of your pay to 403(b), you'd put $7,500 in and save your self $1,875 in tax. Even without the match, you would have only invested $5,625 in a taxable account. Your investment is doing 33% better before starting. Yes, your entire 7500 needs to get taxed, but the gains from the $5,625 need to be taxed too. On a 35 year horizon, one-time $5,625 taxible vs $7,500 tax advantaged in identical 8% funds, paying 1% dividends, reinvested, where the taxible has a 0% ER and the $7,500 has a .5% ER will yield $94,266.53 in taxible and $71,859.97 with a basis of $27,995.75. More precisely, on the non-tax deferred account you get only about 40% tax free and the rest you have to pay on anyway. Yes, there are strategies that can reduce your tax burden and 1% may be a bit high on the dividend assumption but a lower dividend will improve your earnings but hurt your basis. Tax advantages are just that, advantages. Use them wherever possible. The only time you should refuse a tax advantaged account is because you can't afford to contribute to that one and another at the same time. (Edit: changed numbers to reflect proper LT capital gains rate) KennyG fucked around with this message at 23:16 on Apr 19, 2011 |
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Apr 19, 2011 23:13
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Chin Strap posted:0% like you have is far too low unless you have been in one of the big bear markets and have seen your entire retirement account drop 50% or more and still think you were doing the right thing. Usual easy answer would be age as % in bonds. Agreed with regards to to conventional advice behind the bond/equity split, but I was trying to respond to the over/underweight in particular indexes. I only had money to start investing with a few lump sums starting in late '08 and early '09, hence the overweight equities in my case.
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Apr 20, 2011 05:44
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Question for  banking goonsI have ~11k in a RRSP account that I will not be adding to ever again for various reasons. What is the best way (least taxable way) to withdraw the funds? should I /3 and do it over 3 years? 2? All at once?
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Apr 20, 2011 20:58
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renzor posted:Question for
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Apr 20, 2011 23:08
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I'm kicking myself for not doing this sooner, although I'm 26. I have a TCRS (TN Consolidated Retirement System) account through work, but it never clicked that a Roth IRA would also provide a return as large or larger than TCRS. I did it too late for last year so I also decided to get a LifeStrategy Growth Fund from Vanguard as well. Now I just have to keep myself from looking at it every day and going into shock mode on the down days.
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Apr 22, 2011 04:17
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| # ? Jun 9, 2024 14:15 |
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Yaos posted:Now I just have to keep myself from looking at it every day and going into shock mode on the down days. If that's a problem for you. Solution, don't look every day. Everyone needs to gauge their fear tolerance and discipline but an account like this could be monitored as little as once a quarter or even once a year with no issues.
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Apr 22, 2011 14:21
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