Roth IRA

[Hobie]

This is how it was explained to me by a gold salesman: Bullion should not be your entire IRA holdings. First you use non-IRA funds to buy, then you must take possession of bullion. Not coins. It’s purchase and sale are not reported by the seller to the IRS. When you sell, it is up to you to declare as ordinary income. They said that in transactions under $10k ‘no one’ reports, just cash out and done.

They don’t talk about what the bank reports when you deposit a $10k check.

Like I was saying, it makes you think. I’m with everyone else, just trying to figure out the best way to preserve my capital and bank for retirement.

[edna_mode]

Oh, I’ve got the same goals as you, Hobie! Definitely aligned there.

Thanks for the explanation, it’s interesting. So if I understood you correctly, this would be a non-retirement account investment, and in this hypothetical situation, one would store the gold oneself, and sell in <$10K increments to an in-town dealer, who should theoretically have no incentive to report anything. Hopefully this behavior doesn't get one flagged as a money launderer or terrorist... http://www.irs.gov/businesses/small/article/0,,id=154465,00.html

[edna_mode]

Oh, I’ve got the same goals as you, Hobie! Definitely aligned there.

Thanks for the explanation, it’s interesting. So if I understood you correctly, this would be a non-retirement account investment, and in this hypothetical situation, one would store the gold oneself, and sell in <$10K increments to an in-town dealer, who should theoretically have no incentive to report anything. Hopefully this behavior doesn't get one flagged as a money launderer or terrorist... http://www.irs.gov/businesses/small/article/0,,id=154465,00.html

[edna_mode]

Oh, I’ve got the same goals as you, Hobie! Definitely aligned there.

Thanks for the explanation, it’s interesting. So if I understood you correctly, this would be a non-retirement account investment, and in this hypothetical situation, one would store the gold oneself, and sell in <$10K increments to an in-town dealer, who should theoretically have no incentive to report anything. Hopefully this behavior doesn't get one flagged as a money launderer or terrorist... http://www.irs.gov/businesses/small/article/0,,id=154465,00.html

[edna_mode]

Oh, I’ve got the same goals as you, Hobie! Definitely aligned there.

Thanks for the explanation, it’s interesting. So if I understood you correctly, this would be a non-retirement account investment, and in this hypothetical situation, one would store the gold oneself, and sell in <$10K increments to an in-town dealer, who should theoretically have no incentive to report anything. Hopefully this behavior doesn't get one flagged as a money launderer or terrorist... http://www.irs.gov/businesses/small/article/0,,id=154465,00.html

[edna_mode]

Oh, I’ve got the same goals as you, Hobie! Definitely aligned there.

Thanks for the explanation, it’s interesting. So if I understood you correctly, this would be a non-retirement account investment, and in this hypothetical situation, one would store the gold oneself, and sell in <$10K increments to an in-town dealer, who should theoretically have no incentive to report anything. Hopefully this behavior doesn't get one flagged as a money launderer or terrorist... http://www.irs.gov/businesses/small/article/0,,id=154465,00.html

[beanmaestro]

Re: future taxes on Roths

I think there’s a less than 50% chance that Roths get taxed. The majority of middle & upper class voters have them, and with more wealthy people converting to Roths (and paying conversion taxes), there’s a lot of political donors opposed.

Anyway, I look at it as a tax hedge. I’ve only got 20% of my money in it, so it’s not that painful if they do tax withdrawls. And it offers a lot of flexibility vs. 401k withdrawals for minimizing taxes.

[beanmaestro]

Re: future taxes on Roths

I think there’s a less than 50% chance that Roths get taxed. The majority of middle & upper class voters have them, and with more wealthy people converting to Roths (and paying conversion taxes), there’s a lot of political donors opposed.

Anyway, I look at it as a tax hedge. I’ve only got 20% of my money in it, so it’s not that painful if they do tax withdrawls. And it offers a lot of flexibility vs. 401k withdrawals for minimizing taxes.

[beanmaestro]

Re: future taxes on Roths

I think there’s a less than 50% chance that Roths get taxed. The majority of middle & upper class voters have them, and with more wealthy people converting to Roths (and paying conversion taxes), there’s a lot of political donors opposed.

Anyway, I look at it as a tax hedge. I’ve only got 20% of my money in it, so it’s not that painful if they do tax withdrawls. And it offers a lot of flexibility vs. 401k withdrawals for minimizing taxes.

[beanmaestro]

Re: future taxes on Roths

I think there’s a less than 50% chance that Roths get taxed. The majority of middle & upper class voters have them, and with more wealthy people converting to Roths (and paying conversion taxes), there’s a lot of political donors opposed.

Anyway, I look at it as a tax hedge. I’ve only got 20% of my money in it, so it’s not that painful if they do tax withdrawls. And it offers a lot of flexibility vs. 401k withdrawals for minimizing taxes.

[beanmaestro]

Re: future taxes on Roths

I think there’s a less than 50% chance that Roths get taxed. The majority of middle & upper class voters have them, and with more wealthy people converting to Roths (and paying conversion taxes), there’s a lot of political donors opposed.

Anyway, I look at it as a tax hedge. I’ve only got 20% of my money in it, so it’s not that painful if they do tax withdrawls. And it offers a lot of flexibility vs. 401k withdrawals for minimizing taxes.

[Anonymous]

I assume you don’t have fix income so you are looking for a long term investment. You really won’t be eligible to establish and fund a Roth IRA if you don’t have a certain income range, it’s too unfortunate for you because a Roth IRA will be a big benefit if you are planning for your retirement.:(

[Anonymous]

I assume you don’t have fix income so you are looking for a long term investment. You really won’t be eligible to establish and fund a Roth IRA if you don’t have a certain income range, it’s too unfortunate for you because a Roth IRA will be a big benefit if you are planning for your retirement.:(

[Anonymous]

I assume you don’t have fix income so you are looking for a long term investment. You really won’t be eligible to establish and fund a Roth IRA if you don’t have a certain income range, it’s too unfortunate for you because a Roth IRA will be a big benefit if you are planning for your retirement.:(

[Anonymous]

I assume you don’t have fix income so you are looking for a long term investment. You really won’t be eligible to establish and fund a Roth IRA if you don’t have a certain income range, it’s too unfortunate for you because a Roth IRA will be a big benefit if you are planning for your retirement.:(

[Author]

Posts