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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (4695)	3/14/2017 10:40:07 AM
From: 3bar	Read Replies (2) \| Respond to of 26440

We have a TFSA program , Tax Free Savings Account , which is a great boon to anyone who understands something about the markets . You can only put in $5500/year but it is cumulative , any profits in that account can be withdrawn tax free . So buy 10000 shares of a junior at .50 and it goes to $ 4.50 the 45 thous is yours to reinvest or spend as you like tax free . The down side is that 15 % of the population who know are content . 85 % have no pensions and are in the/a stew . As old as you .

To: robert b furman who wrote (4695)	3/14/2017 10:42:09 AM
From: Kirk ©	Respond to of 26440

I sure wish I was smarter when I was putting the max into my 401K.... I have 5 more years to build my nest egg to maximum value then I experience RMD = required minimum distribution. I have closer to 11 yrs.... What I SHOULD have done is put in whatever it took to get the match then STOP and put the rest into an index fund which would grow and get the lower capital gains tax rate. Back then, my mortgage was a huge expense and I believe my incremental Fed tax rate was fairly low. Now when I start taking RMDs, I've done so well investing and using my 401k roll-over for Explore trades, that I'll be taking RMDs at a much higher tax rate AND that income will cut my Social Security earnings too. Something to consider, especially if the GOP can slash taxes, is I may do max IRA to Roth conversions under a lower Trump tax rate, then when I start taking the money out as RMDs long after it looks like that party will be history.... when tax rates are much higher, most of the taxes will have been paid. Of course, they'll probably get me with some sort of VAT tax or national sales tax.... Oh well, at least we have the problem of paying too high a tax rate!