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Old 04-07-2018, 09:32 PM   #51
friscopaint
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within 5 yrs I don't see any new hires being offered a pension here in Ft. Worth.....
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Old 04-07-2018, 09:33 PM   #52
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In any pension plan I have ever seen YOU pick the rights of survivorship on a pension - not the company -

So let me ask you again - you would turn down a $100,000 annual income for you and your spouses lifetime that would cost you over 2 million to duplicate with cash for a lump sum of $500,000? That is a short sided as you can get

I know exactly how much my companies pension plan is funded with and it is solid - and believe me it is not an uneducated decision - but you take that cash. The insurance company you work for must not be much fun to work for if you call them idiots.

For me I will keep taking my $100k a year for as long as my wife and I live -

You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.

Last edited by Burnadell; 04-07-2018 at 09:35 PM.
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Old 04-07-2018, 09:35 PM   #53
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Get a 20 or 25 year term.
yep nothing wrong with that for back up - you can take a single life only pension choice which gives you even more income and if you die first let the term replace the pension for you wife - solid advice
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Old 04-07-2018, 09:36 PM   #54
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In any pension plan I have ever seen YOU pick the rights of survivorship on a pension - not the company -

So let me ask you again - you would turn down a $100,000 annual income for you and your spouses lifetime that would cost you over 2 million to duplicate with cash for a lump sum of $500,000? That is a short sided as you can get

I know exactly how much my companies pension plan is funded with and it is solid - and believe me it is not an uneducated decision - but you take that cash. The insurance company you work for must not be much fun to work for if you call them idiots.

For me I will keep taking my $100k a year for as long as my wife and I live -
I'm sure you meant short sighted.... but aside from that, yes, I'd have to look at the numbers to make a decision.

But in general, I prefer to be in control of my own investments, I know how good my track record is.

We were talking about when a company promises a pension and then drops out of the game.

Who I work for (myself) has very little to do with whether or not you can rely on a company that has a track record of reneging on their promises.
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Old 04-07-2018, 09:39 PM   #55
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You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.
tell me more about how I've never had any experience with a pension plan....

and then you can tell us what single life benefit means.
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Old 04-07-2018, 09:39 PM   #56
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You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.
Agree - as I stated before - clueless.

The worst advice you can get is from someone who knows just enough to give bad advice.
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Old 04-07-2018, 09:41 PM   #57
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I'm sure you meant short sighted.... but aside from that, yes, I'd have to look at the numbers to make a decision.

But in general, I prefer to be in control of my own investments, I know how good my track record is.

We were talking about when a company promises a pension and then drops out of the game.

Who I work for (myself) has very little to do with whether or not you can rely on a company that has a track record of reneging on their promises.
So, what are you invested in?
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Old 04-07-2018, 09:42 PM   #58
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tell me more about how I've never had any experience with a pension plan....

and then you can tell us what single life benefit means.
Let me ask you - name the different pension options available? Single life means the recipient gets the payment for their lifetime only - at their death it ends.

Please name for us all of the other pension options? There are many. If you do not know them I will be happy to outline them for you. I do this for a living.
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Old 04-07-2018, 09:44 PM   #59
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Agree - as I stated before - clueless.

The worst advice you can get is from someone who knows just enough to give bad advice.
Not that I care one whit about your opinion.....

but you offer advice based on made up numbers and an option that offers no benefits to your heirs. It's not the best advice for everyone's situation.

I get my advice from folks that have made plenty of great decisions for a wide variety of successful investors and have the assets to back it up.

Not sure why you got your panties all wadded up simply because you made a different decision for YOUR family, but it is what it is.
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Old 04-07-2018, 09:47 PM   #60
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Like I said before my pension is my best benefit I have. I don’t make any a lot of money but if I left tomorrow I would make 76% of my base salary for rest of my life. If I work another 5 years I’ll make more retired than working. For some my pension would not be enough because my salary is not near what you make but it will do me just fine
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Old 04-07-2018, 09:47 PM   #61
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So, what are you invested in?
If you were as good as you think you are, you'd be hired to know that already......

I'm still making a fortune in Bitcoin

not.

The real answer is real estate and a fairly standard mix of mutual funds that have a long track record of outperforming the S&P. Spread out over Roth accounts, IRA's, cash accounts and two 401k plans.
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Old 04-07-2018, 09:51 PM   #62
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Like I said before my pension is my best benefit I have. I donít make any a lot of money but if I left tomorrow I would make 76% of my base salary for rest of my life. If I work another 5 years Iíll make more retired than working. For some my pension would not be enough because my salary is not near what you make but it will do me just fine
I know your pension and many others are currently well funded. Are you worried that 10 years down the road when the state is in financial trouble they change the benefits? It will have to be done through the legislature. I thought they were going to try something this year after the Dallas pension issues.
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Old 04-07-2018, 09:55 PM   #63
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Not that I care one whit about your opinion.....

but you offer advice based on made up numbers and an option that offers no benefits to your heirs. It's not the best advice for everyone's situation.

I get my advice from folks that have made plenty of great decisions for a wide variety of successful investors and have the assets to back it up.

Not sure why you got your panties all wadded up simply because you made a different decision for YOUR family, but it is what it is.
You do not read very well - my numbers are not made up - I am receiving this pension now and it is not for single life - it will pay my spouse if I die for as long as I live - and trust me I have the assets to back it up -

now - back to my question MR. Pension expert - name me all of the survivor options on available on pensions?
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Old 04-07-2018, 09:55 PM   #64
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Let me ask you - name the different pension options available? Single life means the recipient gets the payment for their lifetime only - at their death it ends.

Please name for us all of the other pension options? There are many. If you do not know them I will be happy to outline them for you. I do this for a living.
Great.

Then I'm sure you can help us come up with a list of failed pension funds --

I can help you with this if you need help -- I make lists for a living.
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Old 04-07-2018, 09:55 PM   #65
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If you were as good as you think you are, you'd be hired to know that already......

I'm still making a fortune in Bitcoin

not.

The real answer is real estate and a fairly standard mix of mutual funds that have a long track record of outperforming the S&P. Spread out over Roth accounts, IRA's, cash accounts and two 401k plans.
Seriously? Self-employed do not have 401k plans.
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Old 04-07-2018, 09:58 PM   #66
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It does worry me but I’m going to live life as I have planned. I see other plans do things that scare me. Austin PD is on its own plan and right now we are well funded. I also have other investments and don’t owe money or believe in credit or debt.
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Old 04-07-2018, 09:59 PM   #67
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Still waiting on your answer pension expert
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Old 04-07-2018, 10:00 PM   #68
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Great.

Then I'm sure you can help us come up with a list of failed pension funds --

I can help you with this if you need help -- I make lists for a living.
Bring it on - or are you busy googling it so you can answer?
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Old 04-07-2018, 10:01 PM   #69
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Seriously? Self-employed do not have 401k plans.
if you are that easily confused, you should probably lay off the tequila for the night.

Last year I received two W-2's, twelve 1099's, and a few other forms you'd probably have to look up on Google to understand.

How is it you know so much and yet....so little?
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Old 04-07-2018, 10:01 PM   #70
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It does worry me but Iím going to live life as I have planned. I see other plans do things that scare me. Austin PD is on its own plan and right now we are well funded. I also have other investments and donít owe money or believe in credit or debt.
We are in the same boat. I am gonna pull the DROP money and roll it over and pray for the best.
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Old 04-07-2018, 10:02 PM   #71
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Here let me help you


life only
life only with ten years certain
joint life with 100%
joint life with 75%
joint life with 50%
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Old 04-07-2018, 10:02 PM   #72
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Bring it on - or are you busy googling it so you can answer?
I don't need to google anything-- I don't follow down rabbit holes just for the sake of argument.

just look back at page 1 at all the failures and complaints about pensions.

Poor management leads to poor performance.

Period.
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Old 04-07-2018, 10:05 PM   #73
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Here..... I googled something for you.

Companies that have changed their defined benefit plans since 2005.

http://www.pensionrights.org/publica...-pension-plans
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Old 04-07-2018, 10:06 PM   #74
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I don't need to google anything-- I don't follow down rabbit holes just for the sake of argument.

just look back at page 1 at all the failures and complaints about pensions.

Poor management leads to poor performance.

Period.
Nice dodge of the question - but you were giving pension advice earlier? You should have known that answer off the top of you head -

Careful giving advice in areas you nothing of - and you clearly do post just for the sake of arguement - stick to bitcoin advice
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Old 04-07-2018, 10:09 PM   #75
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Here..... I googled something for you.

Companies that have changed their defined benefit plans since 2005.

http://www.pensionrights.org/publica...-pension-plans
That is old news - most companies changed their defined benefit plans to 401ks - as the article states they either froze their plans (nobody lost their pension money accumulated up to that point) or if they terminated their plan they stopped offering it going forward to new employees.

But most all of those also grandfathered their existing employees pension plans like mine did. So just because they changed their retirement plans going forward does not mean what they had before was changed - you are out of your league on this bud

Last edited by TKK; 04-07-2018 at 10:12 PM.
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Old 04-07-2018, 10:10 PM   #76
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Nice dodge of the question - but you were giving pension advice earlier? You should have known that answer off the top of you head -

Careful giving advice in areas you nothing of - and you clearly do post just for the sake of arguement - stick to bitcoin advice
tell me more about those reliable pension plans.....

The answer is that it doesn't matter what type of benefit option exists, the plan is the root of the problem.

and I'll challenge you to find one Bitcoin post that I've ever made, (aside from telling the enthusiasts not to do it)
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Old 04-07-2018, 10:20 PM   #77
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tell me more about those reliable pension plans.....

The answer is that it doesn't matter what type of benefit option exists, the plan is the root of the problem.

and I'll challenge you to find one Bitcoin post that I've ever made, (aside from telling the enthusiasts not to do it)
You dodge answering questions very well - as stated before - my plan and many, many others are very well funded and have and will pay very nice monthly pension checks for years and years to come -

again you speak about something you truly know nothing about - you are an insurance adjuster giving advice to people about pensions??

I am done because you are a waste of breath - but you go ahead and get the last word in as it is clear you are the type that will have to do so because you cannot help yourself - goodnight

Last edited by TKK; 04-07-2018 at 10:26 PM.
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Old 04-07-2018, 10:27 PM   #78
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What do you consider a good LOW-RISK mutual fund that would provide better growth than pension plans?
Fidelity fund. Fidelity low price stock fund.

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Old 04-07-2018, 10:51 PM   #79
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Fidelity fund. Fidelity low price stock fund.

Sent from my MotoG3 using Tapatalk
That's one decent midcap fund, but I would not consider it a low-risk fund. Make sure you are diversified in other sectors.
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Old 04-07-2018, 11:10 PM   #80
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If mine pays as its written I’m very happy with my investment. I’ll retire in a few years and not scared at all with what my salary will be. I’ll get term life for 10 years
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I'm sure yours will be fine.
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tell me more about those reliable pension plans.....

The answer is that it doesn't matter what type of benefit option exists, the plan is the root of the problem.
So, Glen's pension plan is fine, but all others suck? Come on, Rod; give it up! You, as I have pointed out before, cannot paint all situations with one brush! Without knowing the particulars of Glen's plan, you tell him his plan will be okay, but other plans are mismanaged! Stick with what you are an expert at and quit offering advice to folks without the specific knowledge of that plan and the requisite edumacation and experience on areas that you know enough to be dangerous in!

Last edited by Burnadell; 04-07-2018 at 11:13 PM.
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Old 04-07-2018, 11:24 PM   #81
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You dodge answering questions very well - as stated before - my plan and many, many others are very well funded and have and will pay very nice monthly pension checks for years and years to come -

again you speak about something you truly know nothing about - you are an insurance adjuster giving advice to people about pensions??

I am done because you are a waste of breath - but you go ahead and get the last word in as it is clear you are the type that will have to do so because you cannot help yourself - goodnight
Thanks for the permission slip.....

Yes, I have a lot of information about failed pension plans.

I watched a huge company that my dad worked for his whole life **** the pants off of their employees because they listened to idiots like you that claimed to know what they were doing.

It wasn't the employees that screwed it up, it was the so-called experts, the guys that "do it for a living"

Have you looked back at page 1 yet?

Are all those people just lying about being screwed by their pension plan?
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Old 04-07-2018, 11:29 PM   #82
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So, Glen's pension plan is fine, but all others suck? Come on, Rod; give it up! You, as I have pointed out before, cannot paint all situations with one brush! Without knowing the particulars of Glen's plan, you tell him his plan will be okay, but other plans are mismanaged! Stick with what you are an expert at and quit offering advice to folks without the specific knowledge of that plan and the requisite edumacation and experience on areas that you know enough to be dangerous in!
I see in your eagerness to avoid addressing your earlier blunder, you are trying to make up by overcompensating.....

you wanna go back and quote the whole post now?

I'm not offering Glen advice, it was simply a reassuring comment.

If you'll read back, you'll see that I said earlier you would have to look at the numbers to decide.

And sure, anyone should seek qualified advice
(i.e. -- not from uncle Randy after he's had a few too many drinks on a saturday night. )
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Old 04-07-2018, 11:34 PM   #83
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the world changed - I am 65 and our world and our parents was a pension - guaranteed income for you and your spouses life. Now the corporations all have gone to 401k match - massive difference. Bottom line? YOU now are in charge of your retirement income - not your employer.

I am fortunate that I was old enough to have the pension - however, my company offered the "cash" option or the pension. The cash sure looked inviting - take the money and invest it myself - big old lump sum of money. Tempting.

The companies offer that for a reason - they do not want you to select the pension because it cost them way more. So they dangle the carrot of cash.

If you do the math you will find that not many (if anything) can beat a guaranteed pension payout for two lifetimes (assuming you are married).

My wife's family tends to live a long time - her great grandma to 106 and her grandma to 99. Her Mom is 88 and looks like she is 60. My family history is not bad either - so chances are my employer will be paying six digits for many many years.

So anyone who gets an offer of cash versus pension? Think carefully before you take a cash buy out
My Dad passed in 98 & that's exactly what the Railroad tried with my Mom, a large cash pay out but we declined. Twenty years later Mom (@ 91) is still receiving Dad's pension
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Old 04-07-2018, 11:36 PM   #84
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I see in your eagerness to avoid addressing your earlier blunder, you are trying to make up by overcompensating.....

you wanna go back and quote the whole post now?

I'm not offering Glen advice, it was simply a reassuring comment.

If you'll read back, you'll see that I said earlier you would have to look at the numbers to decide.

And sure, anyone should seek qualified advice
(i.e. -- not from uncle Randy after he's had a few too many drinks on a saturday night. )
I've only had 5. Or was that 8? It's easy to lose count watching a movie and trying to referee the advice columns.
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Old 04-07-2018, 11:37 PM   #85
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This has become quite the pizzin' match.

Just an observation but usually it's the companies and entities that continue to pay folks that no longer work for them that end up with their hand out to the taxpayer to right the ship. I watched the Dallas Police and Fire pension system fund real estate deals that every bank in town turned down for financing. No surprise there that they are in the toilet.
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Old 04-07-2018, 11:38 PM   #86
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I see in your eagerness to avoid addressing your earlier blunder, you are trying to make up by overcompensating.....

you wanna go back and quote the whole post now?

I'm not offering Glen advice, it was simply a reassuring comment.

If you'll read back, you'll see that I said earlier you would have to look at the numbers to decide.

And sure, anyone should seek qualified advice
(i.e. -- not from uncle Randy after he's had a few too many drinks on a saturday night. )

Wait. What? Blunder? Please point it out!
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Old 04-07-2018, 11:44 PM   #87
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Wait. What? Blunder? Please point it out!
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Seriously? Self-employed do not have 401k plans.
gotta do this to help you find it?

Push the button -- "I've fallen and I can't get up!"

I'm self-employed and I have two 401k plans.

Would you like to retract your earlier statement that you conveniently forgot about making?
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Old 04-07-2018, 11:48 PM   #88
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Seriously? Self-employed do not have 401k plans.
also, since you are giving saturday night online investment advice,
here's what these folks say about it as well....

but they probably don't know what they are talking about either.....

https://www.irs.gov/retirement-plans...ant-401k-plans
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Old 04-07-2018, 11:51 PM   #89
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gotta do this to help you find it?

Push the button -- "I've fallen and I can't get up!"

I'm self-employed and I have two 401k plans.

Would you like to retract your earlier statement that you conveniently forgot about making?
Seriously? Who is the sponsor of those 401k plans? I have NEVER heard of a 401k plan for a single employee/employer. That is not very economical! A SEP plan is what most self employed, without many employees, use. Please explain my blunder.
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Old 04-07-2018, 11:55 PM   #90
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also, since you are giving saturday night online investment advice,
here's what these folks say about it as well....

but they probably don't know what they are talking about either.....

https://www.irs.gov/retirement-plans...ant-401k-plans
I have not given ONE piece of advice. I cannot, nor would I on a forum. I just hate non qualified folks giving advice o a blanket basis without being qualified.
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Old 04-07-2018, 11:57 PM   #91
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Seriously? Who is the sponsor of those 401k plans? I have NEVER heard of a 401k plan for a single employee/employer. That is not very economical! A SEP plan is what most self employed, without many employees, use. Please explain my blunder.
I know this is hard for you.....

Just say you were wrong and we can both move forward

You frequently assume that you know what you are talking about when you don't.

Wasn't that you commenting about blanket statements earlier?

Is the IRS wrong? NO.

Could I possibly be self-employed, and also have a 401k for a company where I make w-2 income? YES.

No one relies on my advice, I'm just a dumb insurance adjuster.

You on the other hand are a licensed adviser.....
Someone might actually rely on your declarative statements as fact.
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Old 04-08-2018, 12:01 AM   #92
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An SEP plan allows one to contribute $54000 annually vs the 401k maximum of $18500 annually. I am sure your advisor explained that.
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Old 04-08-2018, 12:02 AM   #93
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I'm sure the fine folks at Edward Jones don't know about this crazy solo 401k thing either....

oh, wait a second. What's that?

https://www.edwardjones.com/investme...lans/401k.html

well looky there.....they even have a cute little name for it and all.

The Edward Jones Owner Kģ is an owner-only 401(k) plan
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Old 04-08-2018, 12:03 AM   #94
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An SEP plan allows one to contribute $54000 annually vs the 401k maximum of $18500 annually. I am sure your advisor explained that.
would you like a shovel?
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Old 04-08-2018, 01:54 AM   #95
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also, since you are giving saturday night online investment advice,
here's what these folks say about it as well....

but they probably don't know what they are talking about either.....

https://www.irs.gov/retirement-plans...ant-401k-plans


What sucks is some companies cap your 401k contribution at 6%.


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Old 04-08-2018, 02:24 AM   #96
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Me and the wife hope to be sitting pretty with TCDRS in a few years. We both have 25+ years. We will be bringing home more than our current salaries...plus have good health insurance. But who knows what the future holds. That's why I have MREs and a hand pump well.
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Old 04-08-2018, 02:41 AM   #97
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Me and the wife hope to be sitting pretty with TCDRS in a few years. We both have 25+ years. We will be bringing home more than our current salaries...plus have good health insurance. But who knows what the future holds. That's why I have MREs and a hand pump well.


I hope my wife is still pretty in a couple of years and Iíll worry about the rest latter.


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Old 04-08-2018, 02:42 AM   #98
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I hope my wife is still pretty in a couple of years and Iíll worry about the rest latter.


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She looks great every time we meet up. You should be ok.

















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Old 04-08-2018, 03:10 AM   #99
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She looks great every time we meet up. You should be ok.





































One day you too will end up in a hammock and I will be your shoulder to cry on


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Old 04-08-2018, 03:12 AM   #100
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One day you too will end up in a hammock and I will be your shoulder to cry on


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I've had almost as much to drink tonight as you did that night. All I need is a hammock and a willing photographer.
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