THE FUTURE - or - Wtf do you do about this

papajohn56

papajohn56

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Jun 16, 2008
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Ok so a lot of people here do full time AM, and not all are necessarily ballin out of control. How do you manage the following:

- Retirement
- Health insurance


Or am I thinking too far ahead? Maybe marry someone with a 9-5 that gets good benefits.
 


Retirement - I've got a SEP IRA set up as well as a regular IRA that I've rolled over 401k's from my previous career. I contribute to both of those. They both took a complete shit however over the past 18 months, but I'm young enough. They'll come back eventually.

Health Insurance - I'm on my wife's plan through her work.
 
Rofl I'm pretty far from retirement (maybe) but I take care of those things. Got a SEP IRA which is selfmanaged that I buy stocks in. My IRA went up 30% in 2009 so that was pretty nice actually.

For health insurance I'm pretty healthy with no regular doctor stuff so I have a cheap plan that just covers me if I spend more than 5k on health bills. Got it on ehealthinsurance.com actually. It's also tax deductable so talk to your accountant about that.
 
I've got a question.

How many of you actually like your AM job so much that you'd do it if you weren't paid?

Probably none. So you might want to retire early.

So, if you had tons of money from AM, why would you do retirement plans? Most penalize you if you take your money out early. And the ones that do not I don't think are tax deferred.. so there's really no benefit to the retirement plan right? I could be wrong.

Invest it yourself. Come up with a plan based on your age and risk factors you want. Like (30% Bonds, 30% DJIA ETF, 20% High Risk Hedge Funds, 20% Misc Stock speculation)
 
WickedJoe said:
Most penalize you if you take your money out early. And the ones that do not I don't think are tax deferred.. so there's really no benefit to the retirement plan right? I could be wrong. )
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Most idiotic statement of 2010.. the good news is the new year is young and your title will be lost within a few days to another bozo.

You don't invest in SEPs and 401ks and IRAs with the intention of taking the funds back out. No benefit to a retirement plan? Are you just the world's biggest loser?

Damn, I hope you're just 16 with no clue about how to save and provide for your children. Otherwise, they're in deep shit.
 
If you don't believe in pension funds then work on building a brand or a stand-alone business that can be sold and provide you with retirement money.

You'll be making less on day-to-day scale, but as your customer base (or audience) grows, you'll get to the point of actually making enough for a comfortable living "today" while constantly increasing your "pension fund" at the same time.
 
Roundabout said:
Most idiotic statement of 2010.. the good news is the new year is young and your title will be lost within a few days to another bozo.

You don't invest in SEPs and 401ks and IRAs with the intention of taking the funds back out. No benefit to a retirement plan? Are you just the world's biggest loser?

Damn, I hope you're just 16 with no clue about how to save and provide for your children. Otherwise, they're in deep shit.
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Glad to take the title. I did say I could be wrong. I can see your point about it just being a side-investment that you never touch till 65 or whatever. It doesn't have to be your main form of retirement money even if you decide to retire at 40. Then once you do hit that worthless age of 65, you can use your retirement fund to further help fund your miserable existence (I hate thinking about 65).
About saving, I'm actually pretty good at it. I've got lots saved. I have a net positive existence including house and cars. I just need to decide how to invest my savings better.
And children, I will never have any. I don't see the point, never have, and I wont do it just to please a woman (like many men do). But if you have them, love them, and can afford them, then kudos to you - even though my taxes help pay for your kids.
 
bcc423 said:
If you don't believe in pension funds then work on building a brand or a stand-alone business that can be sold and provide you with retirement money.

You'll be making less on day-to-day scale, but as your customer base (or audience) grows, you'll get to the point of actually making enough for a comfortable living "today" while constantly increasing your "pension fund" at the same time.
Click to expand...

That's idiotic. Some people just don't get it I suppose.
 
Obama will have screwed up USD quick enough that any savings you do make won't matter anyway.


Buy gold for retirement.
 
I'm older than most of you, and I do concern myself with retirement.

I have an IRA that auto-magically takes funds out of my checking account every month. With any (and I mean ANY) luck at all it should have no where to go but up. (I hope)

I pay for private health insurance. It is an expense, and it is certainly not a Cadiallac plan, but it is also tax deductible.

I really do love AM, and could probably make a bit more if I could stand the thought of getting a downtown programming in a cubicle again like I did for 20 years. But the thought makes me have night sweats, so I accept less money in return for losing the daily 2 hour commute.

I am a middle class AM. oh yeah, and I keep hoping one of my ideas turns into the big one so I'll be ballin'.
 
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