Anonymous
Post 11/12/2012 19:59     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:We're converting to Roth IRAs, adding $26k per child to 529 plans and probably selling off stocks with a lot if capital gains. Anyone else making money moves before the end of the year?


As a 1%'er I have to agree with the envious here. This post was in very poor taste.

If you want additional strategies by year end by all means discuss with your CPA and trust/estate planning attorney.

If you want to make other people feel bad and gain nothing in return, then carry on.



This. DCUM is not a millionaire's club where everyone talks about how their racehorses.

OP, I'm going to guess your money is so new it smells like printers' ink. Otherwise, you'd know better than to start a tacky thread like this. You seem like a silly braggart.
Anonymous
Post 11/12/2012 19:56     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:May as well move this to the political forum, but the fact is, the money raised from raising taxes won't solve the problem and will further stifle economic growth. There are structural flaws with our system that need to be fixed.

I'd like to discuss this among adults as well; but I don't think it's possible anywhere on DCUM.

As for 2012 money moves, we've been looking for years for a summer place and just can't settle on anything (location, size, price etc etc). So, instead we'll pay $350,000 in taxes to convert $1M to Roth IRAs. Not nearly as much fun as a beach house. But at least we'll be doing our "fair share".


I like you.


Why? I can't imagine why she's incapable of finding a suitable beach house in the $1M market, she must have some really particular demands in a beach house. Second, I'd hardly pat her on the back for doing her "fair share" just because she's recognizing her kgains at the lowest possible kgains tax rates.
Anonymous
Post 11/12/2012 19:43     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:If you people run through all your kids and still need to unload some gift money, I will gladly step up to the plate and take some of your burden.


Take a number.

You and 99% of the country are already standing in line.


F and U, big shot. The only thing anyone's standing on is you on top of the backs of the millions of people whose labor built this country and your wealth. So give it to your kids, avoid your taxes, buy your third homes, whatever. But don't think that makes you more moral or righteous or valuable and STFU about everybody else.
Anonymous
Post 11/12/2012 18:38     Subject: 1%ers: What are you doing with your $$ before Dec 31?
I plan to wipe my ass with 50 dollar bills and goto the hospital when I contract a disease left by the meth head who used the bill to snort some stuff.
Anonymous
Post 11/12/2012 17:54     Subject: Re:1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:We're having our teens open Roth IRAs with the amount each made in their summer jobs.



I bet that'll make them want to get a summer job next year.


We're doing this with part of their earnings. It's a great idea.


But it looks like the first PP is making her kids put the entire amount in the IRAs. (And Roth IRAs for kids, not regular IRAs?) Unless she's reimbursing her kids, they are coming out with nothing.

The kids never come out with nothing. Believe me.
Anonymous
Post 11/12/2012 17:25     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:May as well move this to the political forum, but the fact is, the money raised from raising taxes won't solve the problem and will further stifle economic growth. There are structural flaws with our system that need to be fixed.

I'd like to discuss this among adults as well; but I don't think it's possible anywhere on DCUM.

As for 2012 money moves, we've been looking for years for a summer place and just can't settle on anything (location, size, price etc etc). So, instead we'll pay $350,000 in taxes to convert $1M to Roth IRAs. Not nearly as much fun as a beach house. But at least we'll be doing our "fair share".


I like you.
Anonymous
Post 11/12/2012 17:18     Subject: Re:1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:We're having our teens open Roth IRAs with the amount each made in their summer jobs.



I bet that'll make them want to get a summer job next year.


We're doing this with part of their earnings. It's a great idea.


But it looks like the first PP is making her kids put the entire amount in the IRAs. (And Roth IRAs for kids, not regular IRAs?) Unless she's reimbursing her kids, they are coming out with nothing.
Anonymous
Post 11/12/2012 17:16     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:I wouldn't be surprised if they are means-tested in the near future.

Translation, please.
Anonymous
Post 11/12/2012 16:24     Subject: 1%ers: What are you doing with your $$ before Dec 31?
I wouldn't be surprised if they are means-tested in the near future.

Anonymous
Post 11/12/2012 16:15     Subject: 1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:We're paying down our mortgage. That deduction will be on the chopping block for higher income household's soon.


You must really live in an alternative universe of Fox paranoia. Get rid of the mortgage deduction? Possibly, remotely possible for second homes. But for your primary residence -- never in a million years. Never.
Anonymous
Post 11/12/2012 15:54     Subject: 1%ers: What are you doing with your $$ before Dec 31?
We're paying down our mortgage. That deduction will be on the chopping block for higher income household's soon.
Anonymous
Post 11/12/2012 15:50     Subject: Re:1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:We're having our teens open Roth IRAs with the amount each made in their summer jobs.



I bet that'll make them want to get a summer job next year.


We're doing this with part of their earnings. It's a great idea.
Anonymous
Post 11/12/2012 15:47     Subject: Re:1%ers: What are you doing with your $$ before Dec 31?
Anonymous wrote:
Anonymous wrote:We're having our teens open Roth IRAs with the amount each made in their summer jobs.



I bet that'll make them want to get a summer job next year.


Not pp, but the implication is the kids will keep the money and the parents will find te Roth, but since they are keeping it the same amount as the summer jobs it is intended to avoid scrutiny thus allowing additional payment to kids under gift exclusion. Or maybe not.
Anonymous
Post 11/12/2012 15:43     Subject: 1%ers: What are you doing with your $$ before Dec 31?
As most on this forum live in the DMV what do you think is equitable for people living in coastal areas as far as floods? Should premium be realistic? Underwritten based on actuarial science or government ? This article is about homeowners and Fed flood insurance:
http://money.cnn.com/2012/11/12/pf/insurance/sandy-flood-insurance/index.html?iid=Popular

Anonymous
Post 11/12/2012 15:27     Subject: 1%ers: What are you doing with your $$ before Dec 31?
We are giving all to charity.