How should I invest extra cash? | TigerDroppings.com

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Lookin4Par
Colorado State Fan
Baton Rouge
Member since Jun 2012
884 posts

How should I invest extra cash?



I max out my 401k
The wife maxes out her traditional IRA
I am not able to invest in a roth due to income.

We already pay extra towards the house.
we are accumulating lots of extra cash that needs to earn interest somehow. Where should I stick it?







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Lsut81
USA Fan
Member since Jun 2005
65387 posts

re: How should I invest extra cash?


quote:

I am not able to invest in a roth due to income.


quote:

we are accumulating lots of extra cash








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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120904 posts

re: How should I invest extra cash?


So you're income is too high to invest in a roth?





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chauncey1
LSU Fan
Member since May 2010
165 posts

re: How should I invest extra cash?


Do you want to contribute to a Roth IRA?
You can contribute to a traditional IRA. Then convert it to a Roth. It's a loop hole that essentially allows you to contribute to a Roth, but with an extra step.






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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
16857 posts

re: How should I invest extra cash?


REAL ESTATE? private lending? tax liens?





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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18704 posts

re: How should I invest extra cash?


I'll send you my address, lol.







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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30533 posts
 Online 

re: How should I invest extra cash?


If you qualify to be an accredited investor you can have all kinds of options. Wiki it to see what's involved.





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Vols&Shaft83
Georgia Tech Fan
Member since Dec 2012
18704 posts

re: How should I invest extra cash?


Bitcoins baby





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Zach
LSU Fan
Member since May 2005
65920 posts

re: How should I invest extra cash?


quote:

REAL ESTATE?

+1
But do your home work.






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Swifty
LSU Fan
Member since May 2012
947 posts

re: How should I invest extra cash?


Go get a fee based financial planner and start pumping your money into a taxable investment portfolio.







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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
16857 posts

re: How should I invest extra cash?


quote:

+1
But do your home work.



yep. without a doubt. markets are not all the same across the country. Sometimes you have to invest where the deals are.






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Lookin4Par
Colorado State Fan
Baton Rouge
Member since Jun 2012
884 posts

re: How should I invest extra cash?


My advisor says I will not be eligible for a traditional Ira because of my 401k plan. Is this accurate?

I already invest in real estate but took a beating on my last deal.






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BRWhoDat34
LSU Fan
Baton Rouge
Member since Aug 2009
1042 posts

re: How should I invest extra cash?


You can always contribute to a traditional Ira up to $5k if you're under 50 regardless of your 401k. What he may be talking about is that you can't deduct your contributions from taxes. People who don't participate in qualified retirement plans can deduct contributions to a traditional Ira.





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Crompdaddy8
Tennessee Fan
Jimmy Rustler
Member since Nov 2009
10569 posts

re: How should I invest extra cash?


hookers and blow





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