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Peter P
2005 Jul 21, 4:40pm
But I gotta say, if you tell people you believe in renting AND you are skeptical of 401k/IRA’s, then most people will definitely think you’re views are backwards!
Perhaps they are. ;)
It is difficult for me to come up with a logical argument, and I do not expect you to agree with me on this. Trust me, I am lucky to have a tax accountant that agrees with me on this.
Peter P
2005 Jul 21, 4:43pm
How would you be able to move the money offshore?
With tax-deferred accounts, I could not. This is one reason why I am very skeptical.
Peter P
2005 Jul 21, 4:43pm
So by borrowing from yourself you convert after-tax income to future taxable income.
Hence double taxed. ;)
Yes. Double taxed eventually.
You mentioned moving the money offshore before 59.5 -- How can you do this without a taxable withdrawal?
Peter P
2005 Jul 21, 4:52pm
You mentioned moving the money offshore before 59.5 — How can you do this without a taxable withdrawal?
It is not possible. So I am not very comfortable about it.
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The Housing Bubble's now official. The jig is up, cat's out of the bag, fat lady has sung. "Mr. Bubbles" himself called it in this morning's testimony before Congress: tinyurl.com/a7g7k. Of course, one could argue that AG & Co. are largely responsible for starting this mess, but that's a topic we've already covered in previous threads.
So, is there anyone left (non troll-wise) who can rationally deny that the Bubble exists? Perhaps the only topics left to debate are the questions about magnitude, impact and strategies for dealing with it. How far will prices fall? Which regions/communities will be hit hardest? What will be the macroeconomic implications of the fallout (see previous Inflation/Deflation thread)?
How should one position oneself financially to benefit from the impending crash (proactive/aggressive investment strategies)? How does one best position oneself to protect existing wealth/assets from RE market-related destruction (defensive/hedging strategies -- see Hedging thread)?
HARM
#housing