TorchtheFlyingTiger

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Mechanical failure? That’s some serious copium you’re smoking

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One went down in Libya during Operation Odyssey Dawn due to a "sudden departure from controlled flight caused by a technical malfunction and weight imbalance." It's not implausible. At this point, fratricide, mechanical failure and pilot error are higher threat than anything Iran can muster.

The last POTUS proposed a wealth tax on unrealized gains in his last budget. It barely got any attention. Now the awful idea is gaining more mainstream traction. It may not lass but will be used to generate political enthusiasm on the left.
A more reasonable idea would be to limit stepped up basis at death. I havent given it much thought but maybe there's a way to tax loan proceeds that wealthy live on when using buy-borrow-die strategy.

VTI always buying VTI

In it to win it

Proceed with a lot of caution with aggressively funding the new Trump accounts. Upon conversion to Roth, earnings are taxed as regular income. 529 to Roth conversions aren't taxed. Of course, take full advantage of any free $ for Trump accounts if kids are eligible for free seed $ or matching from your employer etc

Eta: Got me thinking about using Trump account to fund extra $5-10k Roth contribution for a 17 yr old with little/no tax consequence upon conversion at 18 (like a backdoor Roth). Already plan to match contributions from any earned income as teenagers to fund their Roth IRA early.

Max 2025 Roth IRA while you still can before April 15th. Only after that, start your 2026 Roth IRA

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Flatten tax. Take the income. Phantom income is taxed.

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Elaborate please. This doesnt make any sense to me.

Don't reinvest in same equity if you might tax loss harvest. It could trigger wash sale rule even if buying in IRA and selling loss in taxable brokerage.

Otherwise, treat it like any other dollar invest it where it best fits your investment strategy. Use it to rebalance. Only blindly reinvest if you'd otherwise forget and let it sit idle a long time.

I reinvested starting off. Then turned all mine off when I learned about loss harvesting and triggering wash sale. I've yet to loss harvest but if down market continues this could be the year. I now manually reinvest and stagger into the several index ETFs I own so I always have 1 or two I could sell for loss harvesting without wash sale.

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Quitting at 50, getting a new job at 54 , no you can't roll anything over.

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If employer plan accepts rollovers why not? I've never heard of this being prohibited for Rule of 55 but perhaps I'm wrong
This may be obvious to most but to be clear, the 20% is just tax withholding (not the tax rate). You'll get any excess back on your tax return.
Can anyone confirm if you have a mix of Roth 401k and traditional 401k if distributions must be taken pro rata? If so, rollover of any Roth 401k balance to a Roth IRA would be critical.

frick off! :doublebird:

No chutes nowadays. Probably a tanker to tanker offload