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12-14-2017, 03:30 PM | #16 |
Arrowhead Trail of Tears
Join Date: Oct 2012
Location: KansasCity
Casino cash: $1920441
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Don't save for tomorrow when you could enjoy today
I wonder how many people never get a chance to spend their life savings because life happens to them |
Posts: 29,201
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12-14-2017, 03:34 PM | #17 |
Spiraling down the Drain
Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $2230588
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I’m 53 and working my last two weeks. Retiring. Already sold the practice. Have pretax and post tax retirement accounts. Lake house. Recently finished a grad degree at Mississippi State. Starting a storm chasing business.
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"We're both part of the same hypocrisy, Senator, but never think it applies to my family." "Fredo. You are my brother, and I love you. But never take sides against the Family again. Ever." 2019 Adopt a Chief - Travis Kelce #87 |
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12-14-2017, 03:36 PM | #18 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2738491
VARSITY
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Quote:
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I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit. |
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12-14-2017, 04:34 PM | #19 |
Spiraling down the Drain
Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $2230588
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Roth has income limits only on deductibility . Otherwise you can fund with after tax dollars. Not the best going in, but terrific coming out after five years.
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"We're both part of the same hypocrisy, Senator, but never think it applies to my family." "Fredo. You are my brother, and I love you. But never take sides against the Family again. Ever." 2019 Adopt a Chief - Travis Kelce #87 |
Posts: 31,767
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12-14-2017, 04:37 PM | #20 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2738491
VARSITY
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Quote:
http://www.rothira.com/what-is-a-roth-ira
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I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit. |
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Posts: 141,876
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12-14-2017, 05:45 PM | #21 |
Spiraling down the Drain
Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $2230588
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My mistake. You are correct.
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"We're both part of the same hypocrisy, Senator, but never think it applies to my family." "Fredo. You are my brother, and I love you. But never take sides against the Family again. Ever." 2019 Adopt a Chief - Travis Kelce #87 |
Posts: 31,767
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12-14-2017, 05:46 PM | #22 |
TACO SALAD
Join Date: Apr 2008
Location: yes
Casino cash: $1218468
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It's true there are maximum income limits for contributing to a Roth IRA annually. He or his accountant are probably using the backdoor Roth conversion loophole. I'm fairly surprised it's not being closed as part of the new tax plan. They talked about 401k changes and the Senate Bill was going to force stock sales to be FIFO. Never saw anything about closing IRA loopholes though
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Posts: 5,955
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12-14-2017, 08:58 PM | #23 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1734734
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12-14-2017, 09:12 PM | #24 | |
Champs!
Join Date: Mar 2004
Location: Kansas City
Casino cash: $5658476
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Quote:
Enough of that bullshit. /rant
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Super Bowl IV, LIV, LVII & LVIII Champions 2020, 2021, 2023, & 2024 AFC Champions 1985 & 2015 Major League Baseball World Series Champions 1980, 1985, 2014, & 2015 Major League Baseball American League Champions 2015 American League Central Division Champs |
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12-15-2017, 06:20 AM | #25 |
In Search of a Life
Join Date: Jan 2016
Casino cash: $2240400
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I see why you are confused and you should try to get more answers. Looking into this it appears Principal is a turnkey provider of retirement plans, including 401k and 401k SIMPLE and are one of the largest providers in the country. In the brief description you provided, a SIMPLE would seem to be the best option. Turnkey should mean they provide recordkeeping and investments, and the EJ guy should be working with you and your employees on your investment mix inside the plan and for each individual. This is what he/she is being compensated to do. McCloud appears to be a consultant/Third Party Administrator. On the surface this seems to be an unnecessary layered cost, especially if you do not know who they are... That should be a real concern. I would call my EJ rep and ask them to explain the relationships and cost as soon as possible. Let us know what you find out. If the EJ rep is layering services you may want to think about changing broker of record... Let us know.
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Chiefs are my favorite football team of all time! Last edited by IowaHawkeyeChief; 12-15-2017 at 06:28 AM.. |
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12-15-2017, 06:28 AM | #26 |
BAMF
Join Date: Apr 2004
Location: Your Face
Casino cash: $9998710
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The obvious answer is to start asking questions. Call your EJ guy and express concerns over fees. See what he has to say.
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Courage is not the absence of fear but rather the judgment that something is more important than fear. The brave may not live forever but the cautious do not live at all. |
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