News from DaveS85








  1. Performance comparisons between different pies and between a pie and major indices.

  2. Do people realize that impeachment would require Clarence Thomas commit a crime? Disagreement with his rulings is not grounds for impeachment.

  3. Dave Ramsey’s advice is great for the large number of people that are unable to control their debt appropriately. I think his advice is helpful to many of them.

  4. It’s declined because that’s not how you fix this problem. You need to recharacterize your contribution as a traditional IRA contribution then do a backdoor Roth IRA. To be mad at them for not letting you do something that will only make the situation worse is beyond silly. If you were to just pull out the money it would not be just 6k, you would also need to pull out all the gains. Call them and have the contribution plus gains recharacrerized as a traditional IRA contribution then convert it back to Roth. Make sure you do form 8606 come tax time to report your backdoor Roth and the recharacterization.

  5. Be cautious in what IRA you do this. Combining pre-tax and after-tax contributions in a single traditional IRA can complicate the accounting.

  6. If he is doing backdoor Roth IRAs he will need to be converting all the traditional IRA money to Roth to avoid the pro rata rule so he needs to convert it all to Roth. Also it would not be combining ore tax and post tax in a traditional IRA since you can’t put post tax money in a traditional IRA. It would not be post tax money after the recharacterization

  7. How would it not be post tax money? Wouldn’t that lead to you being double taxed at withdrawal if it wasn’t backdoored?

  8. I’d also like the ability to compare to the indices also.

  9. Confused on the original post. You say it’s not useful for people who only own a few stocks or ETFs. Then you dislike trading windows. Individuals who tend to only own a few large ETFs aren’t usually day trading where the constant ability to buy or sell is important.

  10. Not sure why people wouldn't trust M1 with all their accounts. Even if M1 were to go belly up, our money and investments would not disappear with them. We would be given the ability to transfer our accounts to another brokerage.

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