do u think our forefathers would be proud of us - Page 7

starkind · #1 08-04-2021, 09:43 AM

thats a hard one

learning how to watch ppl kill themselves and move on idk what advice to offer there, most people don't understand without some kind of world ending trauma and than a lot of times ppl dont survive that

Gwaihir · #2 08-04-2021, 09:52 AM

I also expect them, once they start working, to give me 18% of their income to invest in their Roth-IRA managed by yours truly, as well as how to properly utilize credit. They have already been listed as authorized users on my cards for about 5 years now, and have credit scores better than our resident leftists.

Jibartik · #3 08-04-2021, 10:14 AM

Quote:

Originally Posted by Gwaihir [You must be logged in to view images. Log in or Register.]

I also expect them, once they start working, to give me 18% of their income to invest in their Roth-IRA managed by yours truly, as well as how to properly utilize credit.

This is what the boomers failed to do.

They did this instead:

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Gwaihir · #4 08-04-2021, 10:17 AM

Quote:

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

This is what the boomers failed to do.

They did this instead:

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And then they turned those princess-saving skills into princess-saving skills; with princess being any groups they decided to make into pitiable princesses.

Toxigen · #5 08-04-2021, 10:20 AM

Quote:

Originally Posted by Gwaihir [You must be logged in to view images. Log in or Register.]

I also expect them, once they start working, to give me 18% of their income to invest in their Roth-IRA managed by yours truly, as well as how to properly utilize credit. They have already been listed as authorized users on my cards for about 5 years now, and have credit scores better than our resident leftists.

I mean I get this but....

How do you figure 18%? Its 6k / year right now.

I'd let them set it up for themselves (VTSAX @ $500 per month). Just stress that they max it out every year. Nothing else matters more when you're young and earning less than $100k / year.

Gwaihir · #6 08-04-2021, 10:40 AM

Quote:

Originally Posted by Toxigen [You must be logged in to view images. Log in or Register.]

I mean I get this but....

How do you figure 18%? Its 6k / year right now.

I'd let them set it up for themselves (VTSAX @ $500 per month). Just stress that they max it out every year. Nothing else matters more when you're young and earning less than $100k / year.

It's more about developing the habit, and 18% of whatever they earn still gives them money to spend, when they're not making enough to max their contribution with that percentage

Jibartik · #7 08-04-2021, 10:20 AM

The irony is what you see there is like the highest paying job for that childs generation. Well, unless he had his dick out on OF that's a bit better.

Toxigen · #8 08-04-2021, 10:25 AM

As soon as kids are out of school and earning a real income they should be automatically budgeting away $6k / year for a Roth IRA. They can just setup weekly $115 automatic withdrawals and budget like they never made that money to begin with.

Its so easy yet so few are doing it. Shitty parenting.

Gwaihir · #9 08-04-2021, 10:42 AM

Quote:

Originally Posted by Toxigen [You must be logged in to view images. Log in or Register.]

As soon as kids are out of school and earning a real income they should be automatically budgeting away $6k / year for a Roth IRA. They can just setup weekly $115 automatic withdrawals and budget like they never made that money to begin with.

Its so easy yet so few are doing it. Shitty parenting.

Actually it should be 18% combined into an IRA if they earn enough to max the Roth: decreases tax liability as an added bonus, especially if you bracket down while doing so.

The Roth contributions (+10k in gains) can be withdrawn for a first time home loan; the IRA is directly for retirement

Horza · #10 08-04-2021, 12:03 PM

Quote:

Originally Posted by Toxigen [You must be logged in to view images. Log in or Register.]

As soon as kids are out of school and earning a real income they should be automatically budgeting away $6k / year for a Roth IRA. They can just setup weekly $115 automatic withdrawals and budget like they never made that money to begin with.

Its so easy yet so few are doing it. Shitty parenting.

Conservatives are really this stupid.