Investing And Building Wealth

[BS67]

Sounds painful. After retiring last summer and taking a part time job to keep myself busy and out of trouble?, I have no idea how uncle sugar is going to hit me.

Uncle Sugar took me for another $1235 above what I already paid in and I adjusted the W-4 to take more out last year. Woof! Taxes stink!

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[BladeRanger]

Uncle Sugar took me for another $1235 above what I already paid in and I adjusted the W-4 to take more out last year. Woof! Taxes stink!

I pay more taxes than had in savings. Quality of life is getting sucks.

 

[BS67]

I pay more taxes than had in savings. Quality of life is getting sucks.

Definitely! My 401K took it in the shorts too. Then, taxes today..........told the wife..........they can kill me........but, they can't eat me!

 

[BladeRanger]

Definitely! My 401K took it in the shorts too. Then, taxes today..........told the wife..........they can kill me........but, they can't eat me!

Same here, 401Ks is been down for over 2 years. It's like a hole in the ground, your money disappears in there.

 

[BS67]

Same here, 401Ks is been down for over 2 years. It's like a hole in the ground, your money disappears in there.

Oh well..........only money..........can't take it with you when you go!

 

[NeilP]

Same here, 401Ks is been down for over 2 years. It's like a hole in the ground, your money disappears in there.

Don't get me started on the loss I've taken in the market! I was feeling pretty darn good back on 11-8-2021 (one of the last date the market was at it highest ever)

 

[NeilP]

Oh well..........only money..........can't take it with you when you go!

I am going to do my best to go out with a zero balance on my last day on earth.

 

[AzScorpion]

Same here, 401Ks is been down for over 2 years. It's like a hole in the ground, your money disappears in there.

Don't get me started on the loss I've taken in the market! I was feeling pretty darn good back on 11-8-2021 (one of the last date the market was at it highest ever)

The markets have been brutal! I pulled everything out 2 years ago knowing something like this would happen. Stuck it all in a money market account which isn't making much but it's better than losing all you've worked for.

 

[BS67]

I am going to do my best to go out with a zero balance on my last day on earth.

Don't forget the Death Tax........Uncle Sugar will be there to collect when you're done!

 

[NeilP]

The markets have been brutal! I pulled everything out 2 years ago knowing something like this would happen. Stuck it all in a money market account which isn't making much but it's better than losing all you've worked for.

In a way, I wish that I would have done that. The taxes due would have been about equivalent to what I've lost. On the bright side, Edward Jones CD's are paying 4.75%.

 

[NeilP]

Don't forget the Death Tax........Uncle Sugar will be there to collect when you're done!

There's no way to win is there!

 

[BS67]

There's no way to win is there!

Nope! LOL

 

[AzScorpion]

In a way, I wish that I would have done that. The taxes due would have been about equivalent to what I've lost. On the bright side, Edward Jones CD's are paying 4.75%.

Yeah I locked in a 2 year non callable CD on my Fidelity account for 4.9% back in December. Plus their money market account right now is paying 4.47% so I add the dividends there every month.

The fees on mine have made a dent but nothing like the hit I'd have taken if I'd left it in there.

 

[Fordup]

I'm on SS but didn't realize there was a limit you can earn till you hit 68. The previous year my YouTube earnings blew past the SS limits and last year SS sent me a big bill at the end of the year I had to pay back without any warnings. I think it was one dollar back for every $2 over the limit.
A couple years back I was getting ready to set up a business here in NY with 2 employees plus me. Went to the lawyer and by the time he got done explaining mandates and insurance I just walked away. $22k upfront to hire 1 or more employees in fees and mandates each year. Started a YouTube channel instead and have been having fun since with very little overhead.

 

[AzScorpion]

I moved the post down here so we didn't kill the other thread. lol

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