October 8Oct 8 4 minutes ago, MidMoFo said:A flacid deek only ruins one thing, trump ruins everything he touches.Don’t be so hard on flacid deeks…Heh heh. You said hard on
October 8Oct 8 24 minutes ago, M.C. said:they’re a bunch of weirdos & pedos…and they’re running our country right now.
October 8Oct 8 34 minutes ago, Bear Grylls said:STUNNINGShe kinda looks like the disguised Alien from Mars Attacks.
October 8Oct 8 How are these "Trump accounts" any different than what Bernie Madoff went to prison for?
October 8Oct 8 5 minutes ago, Gannan said:How are these "Trump accounts" any different than what Bernie Madoff went to prison for?I don't follow? I thought they were similar to an IRA where the parents can put money in for their child until they are 18 where it grows tax deferred until they withdraw. The big difference being that there is no earned income requirement for the Trump Account where as an individual needs earned income to open an IRA, so the use case is to start saving for your child (literally) day 1.
October 8Oct 8 13 minutes ago, paco said:I don't follow? I thought they were similar to an IRA where the parents can put money in for their child until they are 18 where it grows tax deferred until they withdraw. The big difference being that there is no earned income requirement for the Trump Account where as an individual needs earned income to open an IRA, so the use case is to start saving for your child (literally) day 1.The way I read it is you are turning your money over to Trump for him to "invest for you" and when your kid turns 18 they will totally get a lot more than they put into it. If anyone is dumb enough to give Trump their money, they are never seeing a dime of it again.
October 8Oct 8 30 minutes ago, Gannan said:The way I read it is you are turning your money over to Trump for him to "invest for you" and when your kid turns 18 they will totally get a lot more than they put into it. If anyone is dumb enough to give Trump their money, they are never seeing a dime of it again.It looks like there are 5 investment vehicles you can currently choose from:• State Street SPDR Portfolio S&P 500 ETF (SPYM) - default ETF• iShares Core S&P 500 ETF (IVV)• Vanguard Total Stock Market ETF (VTI)• State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)• iShares Core S&P Total US Stock Market ETF (ITOT)
October 8Oct 8 52 minutes ago, paco said:I don't follow? I thought they were similar to an IRA where the parents can put money in for their child until they are 18 where it grows tax deferred until they withdraw. The big difference being that there is no earned income requirement for the Trump Account where as an individual needs earned income to open an IRA, so the use case is to start saving for your child (literally) day 1.Maybe the only good policy and implementation to come out of 6 years of Trump. He can even keep the Trump account name.
October 8Oct 8 3 hours ago, M.C. said:Have you seen the White House lately? This is a John Waters flick
October 8Oct 8 16 minutes ago, paco said:It looks like there are 5 investment vehicles you can currently choose from:• State Street SPDR Portfolio S&P 500 ETF (SPYM) - default ETF• iShares Core S&P 500 ETF (IVV)• Vanguard Total Stock Market ETF (VTI)• State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)• iShares Core S&P Total US Stock Market ETF (ITOT)Soooo why wouldn't you just invest it directly, what's the benefit of going through Trump?
October 8Oct 8 20 hours ago, Diehardfan said:No, what I'm saying is 4-5 establishment GOP block everything even stuff passed by both parties like the time change bill. So if the Dems take it that won't really impact things over the next two years.You are forgetting all the stuff they’ve let him get away with thru the EOs. Nearly all the policy has gone thru that mechanism and Congress has not challenged him. That is going to change.
October 8Oct 8 35 minutes ago, Gannan said:Soooo why wouldn't you just invest it directly, what's the benefit of going through Trump?It grows tax deferred.
October 8Oct 8 1 hour ago, Gannan said:The way I read it is you are turning your money over to Trump for him to "invest for you" and when your kid turns 18 they will totally get a lot more than they put into it. If anyone is dumb enough to give Trump their money, they are never seeing a dime of it again.Ha no. It’s basically an IRA account that you can fund for your child. Whereas before this, that was not allowed. Your child could only have an IRA if THEY actually earned income to put into it. You couldn’t open a IRA for your child and then fund it out of YOUR money on their behalf. Trump being the narcissist he is of course had to have his name attached to it.It’s a nice instrument IF you have the excess capital for it. Unfortunately for me I’m not at that stage right now. Any extra funds I can get are going into their 529s. No sense investing in a tax deferred instrument instead of a tax free instrument.
October 8Oct 8 1 hour ago, Talkingbirds said:Email from mien Fuhrer letting me know that $90 was his doing.Thanks for the tank of gas mein Fuher!
October 8Oct 8 43 minutes ago, Phillyterp85 said:Ha no. It’s basically an IRA account that you can fund for your child. Whereas before this, that was not allowed. Your child could only have an IRA if THEY actually earned income to put into it. You couldn’t open a IRA for your child and then fund it out of YOUR money on their behalf. Trump being the narcissist he is of course had to have his name attached to it.It’s a nice instrument IF you have the excess capital for it. Unfortunately for me I’m not at that stage right now. Any extra funds I can get are going into their 529s. No sense investing in a tax deferred instrument instead of a tax free instrument.Don't worry, if you overfund the 529 you can at least rollover 35k of it into an IRA for your child.
October 8Oct 8 1 minute ago, Paul852 said:Don't worry, if you overfund the 529 you can at least rollover 35k of it into an IRA for your child.I always wondered... what if I have a 529 that is $250k and then Ellie decides college isn't for her. What happens to that amount?
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