Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: 3bar who wrote (4696)	3/14/2017 10:43:46 AM
From: robert b furman	1 Recommendation Recommended By 3bar Read Replies (1) \| Respond to of 26440

HI 3bar, That's their problem - not ours! All those glamorous vacations and high living will catch up to those who did not discipline themselves. They made their choice a long time ago - I bet they pay attention to Tom Selleck and that reverse mortgage garbage they prey on. LMAO Bob

To: 3bar who wrote (4696)

3/14/2017 10:50:35 AM

From: Kirk ©

1 Recommendation

Recommended By
3bar

Respond to of 26440

Nice!

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You can only put in $5500/year but it is cumulative , any profits in that account can be withdrawn tax free .

cra-arc.gc.ca

That looks very similar to our ROTH IRAs for low to moderate income folks.

rothira.com

Fortunately, I've been putting the max into my ROTH every year since I left HP 19 yrs ago....
AND I used the two bear markets to CONVERT some regular IRA funds to ROTH when the markets were way, way down and so was my income (so low tax) so the recovery came to me tax free.

If your earned income for the year is less than the contribution limit (in 2016, $5,500 for those under 50), you can only contribute up to your earned income. In other words, if your earned income is $3,000, you can only contribute up to $3,000.

Income Limits and Tax Filing Status

	2016 Roth IRA Income and Contribution Limits
Filing Status	Income Limit1	Contribution Limit
Married filing jointly	Less than $184,000	$5,500
	$184,000 to $193,999	Begin to phase out
	$194,000 or more	Ineligible for a direct Roth IRA (learn more about a “Backdoor Roth IRA”)
Married filing separately3	$0	$5,500
	$1 to $9,999	Begin to phase out
	Greater than $10,000	Ineligible for a Roth IRA
Single	Less than $117,000	$5,500
	$117,000 to $131,999	Begin to phase out
	$132,000 or More	Ineligible for a direct Roth IRA (learn more about a “Backdoor Roth IRA”)