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TorchtheFlyingTiger

Favorite team:North Carolina St. 
Location:1st coast
Biography:
Interests:LSU & NC St sports, travel, finance
Occupation:FIRE'd
Number of Posts:2065
Registered on:1/14/2008
Online Status:Not Online

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re: Kid's money - TorchtheFlyingTiger
I like the idea of using it to fund a Roth when they start working. The 529 is also a good option for tax differed growth. Just be aware the Roth rollover has restrictions. Account must be 15 yes old before rollover and contribution must be 5 years old. Any assets in kid's name outside retiremen...
Posted on Money Talk
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re: Payoff house or keep money invested? - TorchtheFlyingTiger
5.5% is border line whether to pay it off or not. Market is likely to out perform but payoff greatly reduces your financial risk. Payoff locks your capital away though and you will suffer opportunity cost for next 25 years. Worst case, you stay invested then lose your job during a market downtur...
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re: Car-Leasing basics; what do I need to know? - TorchtheFlyingTiger
In that case, have you considered renting occasionally as needed instead of renting a spare vehicle for 2-3 years?...
Posted on Money Talk
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re: Where would you put $500 bucks? - TorchtheFlyingTiger
[quote]One share of NVDA costs $727[/quote] Fractional shares are a thing now and most if not all major brokerages offer them....
Posted on Money Talk
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re: Car-Leasing basics; what do I need to know? - TorchtheFlyingTiger
DO avoid leasing a vehicle. DON'T lease a vehicle If you have a company car why waste $ leasing another?...
Posted on Money Talk
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re: Illegal teen who beat up cops set free with NO BAIL arrested for shoplifting 5 days later - TorchtheFlyingTiger
"teen" obvious choice of words to invoke sympathy for this adult criminal....
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re: WWYD if you were handed 50k - TorchtheFlyingTiger
[quote]That's over the amount that would kick in the gift tax to the IRS.[/quote] Wrong! 1st its not taxable for the recipient. Second, the giver just has to fill out an IRS form to report the gift which reduces their lifetime gift limit of $13.61 million. Gift tax is only an issue for the extr...
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re: WWYD if you were handed 50k - TorchtheFlyingTiger
Contribute enough to 410k etc. to get full employer match Pay off any debt w interest rate >6.5% Max HSA Max Roth IRA 6 month emergency fund Set aside for any near/mid term expenses (car maintenance, home down payment, moving expenses etc) in next 5 years in a more stable investment...
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re: Pay Extra on Student Loan vs Invest? - TorchtheFlyingTiger
Max that HSA while eligible. It is triple tax advantaged and you can invest it, pay health expenses out of pocket , save reciepts and withdraw without tax or penalty later. [img]https://www.madfientist.com/wp-content/uploads/2016/10/health-savings-account-1.jpg[/img]...
Posted on Money Talk
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re: Tiger fans at UF basketball game - TorchtheFlyingTiger
Son and I are 117...but I'm moving down behind LSU bench before half if this place is empty...
Posted on Tiger Rant
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Tiger fans at UF basketball game - TorchtheFlyingTiger
Finishing dinner then walking to arena soon. So far only saw one lone LSU fan. Who else is gonna be there?...
Posted on Tiger Rant
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re: Pay Extra on Student Loan vs Invest? - TorchtheFlyingTiger
What are you contributing to retirement plans? Taking full advantage of any match? Roth IRAs? I'd prioritize maxing tax advantaged investment accounts before paying off relatively low interest loans. I once paid a 5.5% mortgage early and looking back missed out on tons of stock market gains. ...
Posted on Money Talk
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re: $ASO - Academy Sports - TorchtheFlyingTiger
I'm "only" up 104% ...
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re: What's a qualified dividend and is there really no tax on it? - TorchtheFlyingTiger
Zero federal tax rate on LTCG and qualified dividends up to the top of 12% tax bracket. Once you exceed that , plus standard deduction or itemized, you pay 15% on each additional $ of LTCG. Even better, the basis is untaxed so you could sell appreciated shares and take $120k plus the original invest...
Posted on Money Talk
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re: What to do w/ $500,000 - TorchtheFlyingTiger
[quote]The $15.4K is deductible at marginal rate, so real cost of carry totals ~$11.4K[/quote] Realistically most filers are just going to take the standard deduction $29200. Even if OP itemizes, only the portion above standard deduction is an additional benefit of holding the loan. ...
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re: Has Walmart Pickup Been Slacking in Your Area As Well? - TorchtheFlyingTiger
Works great here. Saves time and buy less junk....
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re: PETA wants you to be mindful of your Super Bowl snacks - TorchtheFlyingTiger
Worked for me on your post...now lets see if I can switch again to down vote as you deserve....
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re: Question about holding onto a stock - TorchtheFlyingTiger
In Roth so no tax. In that case I would probably sell but I am a believer in index funds because I dont think I have any special ability to beat the market consistently....
Posted on Money Talk
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re: current employer has different IRA site than former - TorchtheFlyingTiger
How much managing does your IRA and 401k take you? Besides ease of consolidation consider these factors: 1. 401k may have better protections from judgement (IRA varies by state) 2. Fees 3. Investment choices 4. Having a traditional IRA makes backdoor Roth and mega backdoor Roth more complicat...
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re: Anyone served time in prison? - TorchtheFlyingTiger
Mid Iowa, were you POW? If so that deserves it's own thread. Please tell us more. ETA: I see in another thread you mention being a SERE instructor. ...
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