| There is no way to save any money for retirement |
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Day Trader
Full Member
Cash: $ 13.45
Posts: 58
Joined: 05 Jul 2005
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| There is no way to save any money for retirement |
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Bils keep coming,
sallaries are low. The situation is dim, that is why I am investing into mutual funds (who are eaten by bank fees and taxes). At least I can get something out of mutual funds. Not much, but at least it's something. F*ck it!
dantol.com
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Thu Sep 01, 2005 3:37 am |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
Posts: 390
Joined: 05 Oct 2004
Location: Illinois
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So... is it safe to say that day trading didn't pay off for you? 
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Thu Sep 01, 2005 11:38 am |
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mlathe
Contributing Member
Cash: $ 6.15
Posts: 30
Joined: 26 Aug 2005
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bills keep coming: you need to get out of debt, you can't retire comfortably with debt
salaries suck: ask for a raise, read about the "latte factor"
bank fees: you can invest in a good fund for 0.1% a year, its called an index fund... a discount brokerage shouldn't charge you fees
taxes: why aren't you using an IRA
etc
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Fri Sep 02, 2005 2:08 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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quote:
Originally posted by BlankenshipFP
So... is it safe to say that day trading didn't pay off for you?
ROFLMAO!!!!
The picture I'm getting is that you, Day Trader, do not have CONTROL over your finances. Make a financial statement so you know what you have and so you can tune accordingly to meet your goals.
"Expect me when you see me."
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Fri Sep 02, 2005 4:58 pm |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
Posts: 390
Joined: 05 Oct 2004
Location: Illinois
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quote:
Originally posted by Rolo
ROFLMAO!!!!
I'm glad someone appreciated my comment... 
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Fri Sep 02, 2005 5:11 pm |
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The Financial Guru
New Member
Cash: $ 0.60
Posts: 3
Joined: 14 Sep 2005
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Sounds like a budgeting problem. Rolo nailed it on the button. You need get a grasp on money management, and things may start to turn around for you.
The Financial Guru
http://www.thefinancialguru.com
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Wed Sep 14, 2005 4:10 pm |
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jlee1224
Full Member
Cash: $ 12.65
Posts: 63
Joined: 26 May 2005
Location: Baltimore
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How did increasing your contribution to your 401k increase your take home pay?
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Fri Oct 07, 2005 5:38 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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| Re: There is no way to save any money for retirement |
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quote:
Originally posted by Day Trader
... investing into mutual funds (who are eaten by bank fees and taxes)
No fees here...and no taxes until after you sell.
How you makin' out DT?
"Expect me when you see me."
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Fri Oct 07, 2005 8:23 pm |
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auggyf
Full Member
Cash: $ 19.90
Posts: 97
Joined: 24 Sep 2005
Location: San Francisco
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Unless your tax rate is greater than 100%, your take home pay cannot be higher after 401k contributions.
take home pay = (base salary - 401k) * (1 - tax rate)
= base salary * (1 - tax rate) - 401k * (1 - tax rate)
It is nice that you can contribute amount 401k but you only end up paying 401k * (1 - tax rate) for it.
But ... you tax rate isn't > 100%, is it?
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Fri Oct 07, 2005 11:37 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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Tax withholding was probably changed to something realistic rather than a big refund.
"Expect me when you see me."
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Fri Oct 07, 2005 11:53 pm |
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forexdaytrading
Full Member
Cash: $ 12.40
Posts: 71
Joined: 14 Jul 2005
Location: Miami, Florida, USA
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Hi Day Trader:
What is it that you do for a living and what experience do you have in the financial markets? We are always looking for potential agents in any part of the world if they fit our desired profile.
If you want to PM me instead, please do so.
By the way, I think that you are making a big mistake with the mutual funds.
Best of luck to you,
Dan
Managed Alternative Investment Accounts uncorrelated to stocks, real estate and other economically sensitive investments.
http://www.forex-day-trading.com
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Thu Oct 20, 2005 4:57 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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Okay, the interleaved barrage of sales pitches is bordering on spamming.
quote:
Originally posted by forexdaytrading
By the way, I think that you are making a big mistake with the mutual funds.
How can that be a "big mistake"? That is misleading.
"Expect me when you see me."
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Thu Oct 20, 2005 11:49 pm |
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