Wentzville, MO
Man that swab goes deep. Remind me not to blow through a bag of booger sugar with one of those covid19 testers.
The stimulus shit is bogus. Just extend unemployment or give it some juice. Sending checks to anyone under a certain income level regardless of hardship is weird.
Pisses me off they cap the income too. I guess workers above that level get unlimited quantitative easing to protect their portfolio tho.
One weird thing is the ability to capture 401k dollars without penalty.
When the market is down and your income is down that puts you in a great spot to manipulate deferred taxes significantly. Especially if you roll into a Roth.
Let’s say, to keep things simple, you put $100K into a 401K to avoid 25% tax
You turned $75K of net dollars into $100K gross 401K dollars
Market crashes, it’s now $50K. Income drops, tax bracket drops. You pay 20% on a $50K capture, roll it into a Roth, same mutual fund, it recovers back to $100K, you can grab half penalty free whenever you want, since it’s a qualified contribution, the rest is growth for another day. Sure, it’s really only 90 but when the RMD’s come around you will be glad you did this. And best of all, the conversion is like a taxable investment in terms of access but the growth is tax free!
It’s like a hybrid taxable tax deferred tax fraud account
There has to be a better way to explain that.
