Recent Comments

Right - I didn't directly say that but everything is risky when the dollar crashes, even metals. I just see metals recovering (or more to the point, the dollar devaluing)

Jack. Yeah, my best friend is just like you. I've been there as well (Owning MCI and NorTel when I shouldn't have).

Yep, the government is INSOLVENT and needs to PRINT it's way out. I have metals as well.

But isn't it sad that there is no "basic" investment to make, so that as you get to retirement, you can draw an income from it. Decades ago, retired people owned stocks with dividends, and CDs which were paying okay rates. Those days are long gone. (Although, in hindsight, considering the TRUE inflation, they were NEVER there, because inflation was ALWAYS worse than the returns. LOL).

Hopefully some of the OTHER INFO about how to extract your money with the smallest tax burden can help others that are here.

Agreed! THE Producers Holiday.
This year seems so much brighter than the last four.

And football...

I get it... No thanks... I've avoided Bitcoin and everything related to crypto currency as it has no value on its own. I get it, I know you have made a ton of money. Good for you, I'm truly happy for you. You see, you don't want me to invest in this stock because as soon as I do, it will go to zero. You see, with any thing like crypto currency, everyone gets rich besides the last few that pay for the whole thing, I'd be the last person or the patsy. Metals can go down but will never go to zero. I've more then doubled my holdings this year alone and the event I invested in metals haven't even happened yet. Its the debasement triad.

agreed - its a ponzi scheme

The leftist motto.
I make up for my incompetence by having high confidence that I am right, and anyone who disagrees with me is simply Evil!

Yep, the communists knew. Once we can get ahold of 2-3 generations. You will NEVER get them back.

On the other hand, TRUMP is trying to de-woke the Universities... Because we will need new teachers without the woke crap to start replacing the old guard.

Personally, it is too late. I would homeschool children. Talking to my daughter, I told her. Don't vaccinate them. Homeschool them. Find/build a community of like minded parents, and get the kids to know each other, and organize activities to replace gym, and maybe trade "Classes" (Daughter is AMAZING with words/writing. Find someone who can engage children in Numbers, Math, Science). Because the next couple of generations that DO NOT DO this are basically cooked.

Jack... I am in the same boat, doing the same analysis. (Born in 1967).

You are not wrong. But Soc Sec was not just malinvested. It was overspent.
Disability payments? Payments to children of Dead parents? Outright Fraud with people collecting on dead parents whose death never gets reported.

Then we "taxed" this as income.

This is NOT Financial Advice. But a few things I learned. I mentioned STRC in another post, as an investment.
It is paying ~10% dividends as RoC (Return of Capital). No income tax due until your cost basis hits zero. After that, it is LTCG. I bought some this week b/c it was "on sale". It is DRIP Eligible. With DRIP, 7 years for a doubling?

Next up. Since this does not count as ordinary income. You can earn a lot of this at 0% LTCG tax rate in retirement. (All things are subject to change). I can pull enough of this to LIVE w/o triggering a taxable event.
After that, it's 15%

Finally. Once you can DROP your income, BEFORE taking SocSec... You have a WINDOW of NO income.
This is the time to move your 401(k) or IRA into a ROTH Conversion. I forget the actual numbers, but you can do like $60K/yr of conversion at about a 13% tax rate, avoiding penalties.

Conversion is based on the CURRENT value of the stocks, and in many cases, you can transfer the actual stock.
So, let's say you owned IBIT at $64/share, and it's now trading at $38/share, but you want to hold it.
This would be one of the assets to transfer to the ROTH as SHARES.

Now, this takes a bit longer to do it this way. But this is the basis for my approach. As my income will slowly decline as I turn off the business/work. I will survive on my STRC dividends. As my income drops, I will calculate what I can pull out of the Retirement Accounts into a ROTH IRA. Driving my living expenses out of the ROTH IRA and the Dividends, avoiding as much tax as I can. Cycle that from 62 to either 65 or 67. My normal IRA will be depleted. My dependency on the SocSec will be diminished, but there to fallback on to.

But this is heavily optimized to reduce income taxes into my retirement.
I have a friend who has MILLIONS in a 401(k), and he just realized when he gets to RMDs, he will be pretty much taxed to death. Worse, he has a huge exposure if our "crooked government" decides to RENEG on not taxing that money, or not letting wall street bail him "in"...

He is now looking at the same type of system to extricate his funds.

Throwing in my 2 cents (pennies not made anymore) the SS Ponzi never should have been started in the first place. However, since it has, keep in mind it should/could have been more solvent if the politicians, starting with LBJ (D), had not raided the fund every chance they got. Also, over time the politicians fixed it so more and more freeloaders have been allowed to take from a pot they never paid into - the latest was auto-pen Biden opening the spigot to certain retired federal employees who already have government pensions (I know one such person, who was ecstatic to be getting his first SS checks starting in January). He never paid a single dime into the SS Ponzi. This means those of us who did pay in will now get less out to make up the shortfall. My wife and I are in our 70s and paid in (along with our employers) our entire working lives since we were teenagers. Our ROI is being squandered before we even get it. Actually it's ROFI - Return On Forced Investment.

Yes, but that form of taxation would be felt by everyone. And God knows that is NOT how things work. LOL

Thor, I lost an uncle LEO in the line of duty.
In many cases, they were required to carry at all times, so they could be called upon, at all times.
And there were stupid laws in some places that made this illegal, creating the problems. Going into a School, for example. IMAGINE having to disarm yourself, while off duty, picking up your kid.

We have had friends picking up their kids, and they had CCWs licenses. An overzealous COP had them pop the trunk, took both weapons partially disassembled them, emptied the cartridges (carelessly into the trunk) and threatened to ticket them over it. (He had no right).

BUT I LOVE "Overturned by SCOTUS, you at least get a Demerit, eventually a pay cut, and ultimately fired". But SCOTUS needs to find some of these judges as "Being an Activist Judge". Immediate removal (a death penalty if I were in charge, LOL, but SCOTUS would never apply it then).

LibertyPen, this is an extraordinarily well made argument! No way around the bartender analogy, which is spot on. Thank you! As I read it all that came to mind is the recent incident in Chicago where the lady on the train was set on fire by a perpetrator that had been let loose 72 (that's SEVENTY TWO!) prior times. You'd think after 72 beers or shots that "bartender" would have taken the keys!

In this particular "bar" some of the patrons (lawyers) that helped convince the bartender to let him go ought to be held accountable as well.

Agreed. I think it falls under both RICO statutes, as well as Conspiracy Statutes!

Maybe this got you?

"This coupled with the facts that my generation made sure we worked our asses off paying into the system to support the baby boomers, even though my generation is tiny in comparison, gen-x did our part and we pulled it off."

I'm saying my generation made good on the social contract, while being a much smaller generation. I think you're sensitive.

If anything, I think you should say Thank You.

Please provide the passage where I blamed anything on the boomers? I stated facts, that all.

I never said boomers had a free ride. We all of our challenges. I think Gen-X have a challenge the boomers don't have, the future generations are not able to pay into the social security in the same way as Gen-X has done for the boomers. This is a fact. I have been told not to expect 100% of the social security I was promised. This has not happened to the boomers.

You are simply wrong... You might have arguments with children or family on this topic, I'm not one of them. The point is a way for us to correct this situation and take back control from the federal government.

Happy Thanksgiving to all and to all a good... oh wait, wrong holiday! YES HAPPY THANKSGIVING GULCHERS!!!!

rainman0720, I agree. Coming to the Gulch was a good move. Knowledge and humor all in one place!

The people who facilitated the illegal invasion of 30,000,000 welfare seeking, non-english-speaking, non-assimilating invaders to America should be held accountable for all the crime, deaths, lost wages, lost housing, medical, educational shortages, illegal votes (this list is endless) ..... and if they don't get the tens of millions to leave the country (by whatever means necessary), they must be forced to leave the country in their stead.

Don't you dare think us so-called "Boomers" had a free ride.

In 1971, when Tricky Dick pulled the rug out from under us with the dollar/gold incontrovertibly, a decade long recession greeted us right out of school.
Two oil embargoes ensued resulting in a 3X increase in energy & food prices and everything that went with it.
Jimah Cahta in a desperate attempt to cook the books before his failed re-election attempt, recalculated inflation numbers removing the most damaging numbers: Food and energy! A lie that persists to this day.

Manufacturing jobs left this country at a rate never seen before, or after.
PHD were pumping gas, if they even got that job.

By the early 1980's mortgage rates hit 18%!
And let's not forget how badly the new cars sucked out loud.
The last generation to see true prosperity and societal gains was my parents, who grew up during the Great Depression!

Not to say your generation doesn't have even more burdens placed upon you. You do. But blaming the people who proceeded you is like blaming the weather for your misfortunes.

"Boomers" did not make your bed.
The FED made your bed, put the blame where it belongs.

Highest cost per student, in the world, by a factor of 5X.

> Worst student outcomes in developed nations 40th out of 40.

Anything these jerks proclaim is, by definition, the wrong path to reason and success.

Dog-pile that on top of a woke, radical & perverted agenda, and we have a recipe for disastrous outcomes for our future generations.

I'm not "afraid" of trannies, (therefore I can not be "Phobic") I'm disgusted by them.

And what the # does calling out teachers incompetence and demonic influence on our children have to do with "Race"?

Decision overturned by SCOTUS, judge moves down the bench to the next level. Twice? Job forfeit.

Qualified immunity? eliminated, and LEOs are NOT special people who have a nationwide right to carry. They are just regular people doing a job, with NO special powers. NONE.

And people wonder why homeschooling is on the rise? Education is such a joke. Just in my town, the school budget is $24M (from taxes, before subsidies). An class size of ~100, this is over $20,000/student-year, or $400K-$600K for a reasonable class. I would be HAPPY to put together a company to offer this service.

Oh and the EXCLUDES the cost of the buildings, and operating them which are ALL new now.

Education is a mess. Right behind healthcare in dysfunction. Just like healthcare, the solution is EASY. Take the money gathered for education by the government, and give it to the parents to use as they choose. Problem solved. Same for healthcare. All money flows through the users and with their unfettered choice for use. All problems solved.

Good idea! Thanks!

Happy Thanksgiving to everyone, a producers holiday. To family fun friends and food !

I see this in real life, as my stepdaughter is a teacher and isn't shy about being leftist. Her students are 12-14 years old, a most impressionable time.