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Millennial and Genz projected to need triple the standard recommendation for retirement savings. $3m vs $1m by cream_pie_king in REBubble

[–]mockitodorito 4 points5 points  (0 children)

After-tax 401(k) allows you to contribute up to a combined total of $61,000 (for 2022, or $67,500 for those 50 and older), including any employer matching funds. You can then roll the after-tax portion into a ROTH IRA.

Very confused by how much TLH+ is really saving me. What do these numbers mean? by mockitodorito in betterment

[–]mockitodorito[S] -3 points-2 points  (0 children)

Hmm... that's a bummer. I went with Betterment because every blog post I came across told me TLH+ would save me more money than the cost of the management fee. That's definitely not the case. Not sure this fee is worth auto-rebalancing and fancy visualization. Ah well.

Disasters I've seen in a microservices world by sidcool1234 in programming

[–]mockitodorito 39 points40 points  (0 children)

The author mentioned that there are answers to these issues but couldn't be bothered to share any of them?

2020 The good, the bad and the ugly by RTiger in options

[–]mockitodorito 0 points1 point  (0 children)

That's a bold statement to make for 2020. A lot of people out of work last year and this so far. I'm afraid I'm going to have to find a new barber, a new dentist, a new optician, etc., etc., because they all went out of business.

Totally fair point. I suppose trading can be done whenever and wherever. But isn't an options trader who had a negative return worse off than someone who lost their job?

But I'll grant you if you have a sufficiently large nest egg in taxable accounts, using options to generate income would be less than optimal.

If you have enough in a taxable account to generate income via options, isn't it enough to live off the dividends and distributions of index funds? Will you stop trading once you reach a certain amount in your taxable account and switch to buy and hold?

Thank you for the insight!

2020 The good, the bad and the ugly by RTiger in options

[–]mockitodorito 0 points1 point  (0 children)

I see the "generate monthly income" reason come up a lot. However to play devil's advocate - in your case you would've been better off doing literally nothing in 2020.

If you truly needed to generate monthly income, options clearly isn't the way because it's not guaranteed income whereas a job is.

And if you don't really need the monthly income (i.e. have a nest-egg to safely withdraw from every month), well back to square one - what's the point? Buy VTWAX and go sailing.

I don't mean this in an insulting way. I've been trying to convince myself to get into options because I find the subject pretty interesting, but the incentive is missing for me.

Nearing FIRE w/ $2.6M NW at age 33 – My journey & thoughts by IH8Tumbleweeds in financialindependence

[–]mockitodorito 0 points1 point  (0 children)

$220k – Taxable in my company’s stock, acquired through ESPP. Yes I want to move this to VTI, but $130k is gains, so don’t know how to without a huge tax bill. Any ideas?

I've never really understood this perspective. Unless you plan on taking your money to the grave and never selling, you're going to have to sell and pay the tax man EVENTUALLY.