Are Asians more bullish about housing in general…

[Coronita]

[quote=AN][quote=flu][quote=AN][quote=carlsbadworker]Because they have no idea how much wealth they needed and how to generate sustained cashflow, so they tend to over-save (maximize 401K in both spouses’ accounts) and do nothing when inflation kicks in.[/quote]
How do you “over-save”?[/quote]

Simple, excessively contribute to a 401k, so that in your golden years you are taxed hire post retirement than during your earning years…After all, you’re forced to take mandatory distributions at a certain age. If it goes below a limit, you pay penalties, if you take distributions above a limit, you pay penalties too…[/quote]
You’re assuming the saving is in 401k. What about Roth IRA, Roth 401k, cash, houses, investments in small biz, investment in small biz that grew to mid size biz, etc.?[/quote]

Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.

[Coronita]

[quote=IT.MOM]Li Na is in top 8 seed US open 2010.
Anyway, is it possible to get scholarship for table tennis?[/quote]

Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.

[Coronita]

[quote=IT.MOM]Li Na is in top 8 seed US open 2010.
Anyway, is it possible to get scholarship for table tennis?[/quote]

Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.

[Coronita]

[quote=IT.MOM]Li Na is in top 8 seed US open 2010.
Anyway, is it possible to get scholarship for table tennis?[/quote]

Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.

[Coronita]

[quote=IT.MOM]Li Na is in top 8 seed US open 2010.
Anyway, is it possible to get scholarship for table tennis?[/quote]

Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.

[Coronita]

[quote=IT.MOM]Li Na is in top 8 seed US open 2010.
Anyway, is it possible to get scholarship for table tennis?[/quote]

Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.

[an]

[quote=flu]
Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.[/quote]
AFAIK, most of the baby boomer 1st gen Asian immigrants do not max out their 401k until very recently. Most of the 1st gen immigrants who came here in the 70s/80s sent a lot of their money back to their home countries and spent a lot of money bringing over their relatives that didn’t come in the first wave. Only after all of this did they start to seriously contribute to 401k/IRA. So, in the grand scheme of things, I don’t think they can over contribute to 401k, since they started way too late. As for our generations, I’m fully invested only in Roth, so no RMD for me.

BTW, if they continue to live frugally like they have been, then RMD + SS will be more than enough for them to live on. At that low of an income bracket, they probably won’t get tax very much.

[an]

[quote=flu]
Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.[/quote]
AFAIK, most of the baby boomer 1st gen Asian immigrants do not max out their 401k until very recently. Most of the 1st gen immigrants who came here in the 70s/80s sent a lot of their money back to their home countries and spent a lot of money bringing over their relatives that didn’t come in the first wave. Only after all of this did they start to seriously contribute to 401k/IRA. So, in the grand scheme of things, I don’t think they can over contribute to 401k, since they started way too late. As for our generations, I’m fully invested only in Roth, so no RMD for me.

BTW, if they continue to live frugally like they have been, then RMD + SS will be more than enough for them to live on. At that low of an income bracket, they probably won’t get tax very much.

[an]

[quote=flu]
Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.[/quote]
AFAIK, most of the baby boomer 1st gen Asian immigrants do not max out their 401k until very recently. Most of the 1st gen immigrants who came here in the 70s/80s sent a lot of their money back to their home countries and spent a lot of money bringing over their relatives that didn’t come in the first wave. Only after all of this did they start to seriously contribute to 401k/IRA. So, in the grand scheme of things, I don’t think they can over contribute to 401k, since they started way too late. As for our generations, I’m fully invested only in Roth, so no RMD for me.

BTW, if they continue to live frugally like they have been, then RMD + SS will be more than enough for them to live on. At that low of an income bracket, they probably won’t get tax very much.

[an]

[quote=flu]
Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.[/quote]
AFAIK, most of the baby boomer 1st gen Asian immigrants do not max out their 401k until very recently. Most of the 1st gen immigrants who came here in the 70s/80s sent a lot of their money back to their home countries and spent a lot of money bringing over their relatives that didn’t come in the first wave. Only after all of this did they start to seriously contribute to 401k/IRA. So, in the grand scheme of things, I don’t think they can over contribute to 401k, since they started way too late. As for our generations, I’m fully invested only in Roth, so no RMD for me.

BTW, if they continue to live frugally like they have been, then RMD + SS will be more than enough for them to live on. At that low of an income bracket, they probably won’t get tax very much.

[an]

[quote=flu]
Roth hasn’t been around long enough for most of the baby boomers and pre-baby boomers to have meaningfully been useful. Exceptions are baby boomers that took were slightly more proactive and rolled over 401k/IRA’s into Roth a few years before the mandatory distributions. As far as house, retiring folks in CA can do transfers between counties to keep their prop tax rates so I agree with you there. I was only talking about 401k/IRA overcontributions, which is entirely possible. My relatives called it the 401k government scam.. Help the government save to pay more taxes post retirement.

We’ll see in our generation what happens there.[/quote]
AFAIK, most of the baby boomer 1st gen Asian immigrants do not max out their 401k until very recently. Most of the 1st gen immigrants who came here in the 70s/80s sent a lot of their money back to their home countries and spent a lot of money bringing over their relatives that didn’t come in the first wave. Only after all of this did they start to seriously contribute to 401k/IRA. So, in the grand scheme of things, I don’t think they can over contribute to 401k, since they started way too late. As for our generations, I’m fully invested only in Roth, so no RMD for me.

BTW, if they continue to live frugally like they have been, then RMD + SS will be more than enough for them to live on. At that low of an income bracket, they probably won’t get tax very much.

[an]

[quote=flu]Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.[/quote]
Hey hey, cool it w/ the badminton bashing :-D. Other than that, agree 100%. There’s just no money in badminton or many of the sports out there.

[an]

[quote=flu]Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.[/quote]
Hey hey, cool it w/ the badminton bashing :-D. Other than that, agree 100%. There’s just no money in badminton or many of the sports out there.

[an]

[quote=flu]Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.[/quote]
Hey hey, cool it w/ the badminton bashing :-D. Other than that, agree 100%. There’s just no money in badminton or many of the sports out there.

[an]

[quote=flu]Table what?

badmitton what?

Trust me. Stick with the tennis and ice skating. Even you your kid is a table tennis star, or badmitton star…Guess what, there’s no bucks in the endorsements from companies like Nike.

Full Contact Table Tennis or Badmitton just doesn’t jive here in America, unless you can somehow tie table tennis to WWE…Hmmm, body slam or suplex onto a table tennis table…That might work for an episode of Monday Night Raw….However, I’m sure you’re boy staring in WWE would be the one getting beaten up, not the main lead role. It’s how it’s here in Hollywood..
Hollywood loves painting asian men as the evil anti-hero, unless you’re Jackie Chan…Which in that case, they’re just laughing at you with Chris Rock. White boyfriend, asian girlfriend…Dime a dozen. It’s so So Cal…Not really unique frankly.[/quote]
Hey hey, cool it w/ the badminton bashing :-D. Other than that, agree 100%. There’s just no money in badminton or many of the sports out there.

[Author]

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