Retirement... (i.e. what are you going to be after you've grown up)
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Chanur
Shit Posting Professional
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Kithani
Blackwing Lair Raider
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I admit I think I misunderstood your original comment, my B.
I can agree I guess any family that owned a PC and willing to pay 9.99/mo for an online game probably at least average to above the average. I thought you meant MMO players were somehow more motivated to succeed than the average person which is what I disagreed with.
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Furry
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Roth IRA has no tax on withdrawal if you follow the rules. It's a very powerful tool for regular investors and the super wealthy. Shocked you don't know about it if you are into wealth management. Peter thiel in particular made a comical exploit of the rules to evade around a billion in taxes.
fris
Vyemm Raider
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MMO players are all about min/maxing at their core. except those that play healers and get carried. I wouldn't be surprised if former MMO players are doing better than average
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Burren
Bronze Baronet of the Realm
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OK I'll bite. How do Roth IRAs benefit the super wealthy? Because I found out this year there is a max AGI to be allowed to contribute to a standard Roth IRA. I'm close to borderline on that limit this year even with a career transition, and I will blow past it next year with a full year of this new job + military retirement coming in. I could switch to Roth 401k contributions, but I think my play is to go deeper on tax-deferred contributions now.
Captain Suave
Caesar si viveret, ad remum dareris.
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The super wealthy? Hardly at all. They can be a great vehicle for people who save their way to low/moderate wealth, though. Use them while you're able to, second only to HSAs. If you have a low income year you can also do a traditional > roth rollover. My dad benefitted greatly from doing that about 20 years ago.
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This is how the ultra rich are doing it: Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank
Thiel specifically, put some undervalued shares of Paypal into it when it was a small private company and they blew up. Rinse and repeat.
Thiel specifically, put some undervalued shares of Paypal into it when it was a small private company and they blew up. Rinse and repeat.
Control
Bronze Baronet of the Realm
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So step 1, be the founder of a company that will go on to become unimaginably successful? Oh, well ok.
If you read a little further down, it gives more details.
Just to add, there's also rules against self dealing in retirement accounts. Thiel's hedge fund had already invested in Paypal, so his company was already an owner of the company he was now putting is his retirement account. I'm not a lawyer, so I can't speak to the legality of it, but it's for sure against the spirit of the rule: Retirement topics - Prohibited transactions | Internal Revenue Service
Just to add, there's also rules against self dealing in retirement accounts. Thiel's hedge fund had already invested in Paypal, so his company was already an owner of the company he was now putting is his retirement account. I'm not a lawyer, so I can't speak to the legality of it, but it's for sure against the spirit of the rule: Retirement topics - Prohibited transactions | Internal Revenue Service
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