Tesla [TSLA] Roaring Into 2021 As Short Sellers Lose Record $38 Billion

[RV_]

15 hours ago, jcussen said:

 RMD's are mandentary at 72, although legiestation is changing on all IRA accounts, so if you invested while younger in tax free 401K's etc, you will be required to take some money out of your IRA and pay tax on it. If a Roth and you paid tax on it before putting it in your IRA, think you are okay with pulling that money out without paying income taxes on it. My Required Minimum disbursement  this year plus my S.S. put me in a 24% tax bracket, and probably higher next year.

None of my investments are in any form of retirement account or 401 etc. My stocks are separate from retirement accounts of any kind. I live on my military retirement and our SS we paid into.

Lynn has an IRA and she is 67 this year, I am 2 years older than she is so when we are a little closer we will comply. 

[jcussen]

32 minutes ago, RV_ said:

None of my investments are in any form of retirement account or 401 etc. My stocks are separate from retirement accounts of any kind. I live on my military retirement and our SS we paid into.

Lynn has an IRA and she is 67 this year, I am 2 years older than she is so when we are a little closer we will comply. 

Good decision on your part, wish I knew more about RMD's when I first started saving, would have put a lot more into Roth IRA's.

[bigjim]

jcussen, Depending on your age you may not have had a option of a Roth.  That was my case. If timing and finances worked out you may have had an option to convert with certain rules that affected your income tax. I looked at it but my situation made it not desirable to  change so I am just biting the bullet.  

[jcussen]

1 hour ago, bigjim said:

jcussen, Depending on your age you may not have had a option of a Roth.  That was my case. If timing and finances worked out you may have had an option to convert with certain rules that affected your income tax. I looked at it but my situation made it not desirable to  change so I am just biting the bullet.  

Believe you must have had a Roth at least 5 years before you turn 59 1/2. I started my 401k in my twenties, if I had known the rules, would have put way more money in Roths.

https://www.investopedia.com/roth-ira-withdrawals-read-this-first-4584662

[bigjim]

Me too if circumstance permitted, including personal circumstance not just legal circumstances.

[RV_]

I wish I had known more about Roth as well. But Lynn's 401 started life out as a civil service thrift savings plan where they matched a certain amount and we were limited in how much could be deposited in any year.

Is capital gains tax for a given amount more or less than earned income. I thought it was less last time I checked. I need to find a tax person!

Our kids have moved out of Colorado and with the pandemic we have met only tradesmen and county inspectors.

We just found out our house would bring almost 100k more than we paid for it a little less than two years ago. And being out of breath more than at lower altitudes slows me down too. So I am looking again for the right place. We could have bought in S. Utah for about a third and we don't want hurricanes, fires, tornadoes, earthquakes or floods. I will be looking at Northern tier but the humidity has to be in the middle between dry and humid. I will never live again where my freshly laundered and pressed shirt is drenched just walking around the block. Here it is great as I have almost never been sweaty here. It evaporates and keeps me dry which is more comfortable even in winter. Oh well, it will keep me busy looking.

The house next door which was a rental is fixed up and is being sold. The realtor is a really nice young lady and she warned us that the market is so hot here that there will be people parking all over. Houses here are selling for more than asking as buyers bid higher. Ours is at its peak with one more walkway to the new workshop out back, and new sod for the back yard, the sprinklers are there and work. My interior trim carpenter wife has done some amazing upgrades. inside an I've changed the electric service to 200 amp and have a 50 amp charging or any 50 amp use outlet as it is the same as an RV outlet. It charges my Model Y at 30 miles an hour with a default charge to 90% (284 miles) for battery health and can be charged for trips to full range which is yet to be determined as it was 316 miles and several updates have improved range a little so I will say 320 miles/charge but it may be more.

So I'll hang in here until we get our vaccinations and the pandemic starts to fade.

Edited January 14, 2021 by RV_

[Chalkie]

4 hours ago, RV_ said:

We just found out our house would bring almost 100k more than we paid for it a little less than two years ago. And being out of breath more than at lower altitudes slows me down too. So I am looking again for the right place. We could have bought in S. Utah for about a third and we don't want hurricanes, fires, tornadoes, earthquakes or floods. I will be looking at Northern tier but the humidity has to be in the middle between dry and humid. I will never live again where my freshly laundered and pressed shirt is drenched just walking around the block. Here it is great as I have almost never been sweaty here. It evaporates and keeps me dry which is more comfortable even in winter. Oh well, it will keep me busy looking.

The market is indeed hot in Colorado Springs! When we sold in July our house had 7 offers on the first day it was listed and we took the second highest as it was conventional and not VA at out realtors recommendation. 

I don't know about looking at northern tier states, then you are getting into the fringes of the Great White North. You could always look for something in the mountains of Arizona for lower temps and humidity and still be lower than Colorado. IMO Colorado Springs was and still is just about the perfect place to live but after 30 years we were over the cold winters.

And just so you know there is nowhere to escape tornadoes although some place are more prone than others, same goes for earthquakes. 😄

[RV_]

Gary all good points. But we lived in tornado alley because of family there from my first assignment, Barksdale AFB LA. My aunt lives in Florida just west of Ft. Lauderdale and they get hurricane hit all the time. Connecticut was not as humid as the shock of humidity when I was there from age 7-18. We pretty much lived the East coast bases and states as AF Brats and the rest of the country west of the Mississippi and from Mexico up to Alaska. The Yellowstone Caldera is also not in our future not because of the big one which would affect all of western US, but in case of a smaller Mt. St. Helens more local eruption. Coastlines are out.

I will look into Arizona mountain communities as I don't like deserts that much but perhaps. We've been in Benson AZ with freezing weather and a snow dusting on our first year out traveling in early 1998. Then Yuma was 110 degrees in summer the next year or that year too.

I will be researching for a bit as we aren't doing it if at all until the Covid issues are resolved with both of us vaccinated and able to interact socially again. I did love the Connecticut weather with a mild protected shore on Long Island Sound too far north for the hurricanes to really do much. However the winter storms lately have been brutal to them.