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Started By
Message
How should I invest extra cash?
Posted on 1/24/13 at 10:59 am
Posted on 1/24/13 at 10:59 am
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?
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?
7
Posted on 1/24/13 at 11:13 am to Lookin4Par
quote:
I am not able to invest in a roth due to income.
quote:
we are accumulating lots of extra cash
Posted on 1/24/13 at 11:16 am to Lookin4Par
So you're income is too high to invest in a roth?
Posted on 1/24/13 at 11:20 am to Powerman
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.
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.
Posted on 1/24/13 at 11:20 am to Lookin4Par
REAL ESTATE? private lending? tax liens? 
Posted on 1/24/13 at 11:21 am to Lookin4Par
I'll send you my address, lol.
Posted on 1/24/13 at 11:40 am to Lookin4Par
If you qualify to be an accredited investor you can have all kinds of options. Wiki it to see what's involved.
Posted on 1/24/13 at 11:41 am to Lookin4Par
Bitcoins baby 
Posted on 1/24/13 at 11:46 am to Fat Bastard
quote:
REAL ESTATE?
+1
But do your home work.
Posted on 1/24/13 at 12:24 pm to Zach
Go get a fee based financial planner and start pumping your money into a taxable investment portfolio.
Posted on 1/24/13 at 12:46 pm to Zach
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.
Posted on 1/25/13 at 5:39 pm to Fat Bastard
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.
I already invest in real estate but took a beating on my last deal.
Posted on 1/25/13 at 6:04 pm to Lookin4Par
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.
Posted on 1/26/13 at 4:31 am to Lookin4Par
hookers and blow
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