The "What Are You Doing This Moment" Thread

[Dazed and Brutal]

How do you know that? With a Roth contribution, you pay tax on all the money up front, but there's no telling when (or if) you pay on all the money withdrawn from a traditional IRA, because it's withdrawn over many years of retirement. Any money left untaxed has more time to keep compounding.

You neglected to mention the possibility of having a lower tax rate in retirement anyway, along with the fact that an individual's financial situation is deeply personal and complex -- two basic things anyone qualified to give financial advice would know (not that giving financial advice on a web forum is ever a good idea to begin with), so just stop.

Well it just depends where he is tax wise at the moment. I believe that new tax policy won't hold for 35 years and he will actually have higher taxes in the future, but this is just conjecture. The tax policy going into effect currently is phasing a lot of it's benefits over eight years so it might be prime time to load up a Roth fund. I mean he's talking about 35 years or so into the future so I don't think he has sense of exactly of the lifestyle he will wanting at that point and should probably re-evaluate it as time goes. The whole point is to start saving early regardless.

I already disclosed that I'm only a CPA, but I think I'm qualified enough to lend some advice. It's up to him to decide and you can feel free to chime in.

 

[zabu of nΩd]

Well it just depends where he is tax wise at the moment. I believe that new tax policy won't hold for 35 years and he will actually have higher taxes in the future, but this is just conjecture. The tax policy going into effect currently is phasing a lot of it's benefits over eight years so it might be prime time to load up a Roth fund. I mean he's talking about 35 years or so into the future so I don't think he has sense of exactly of the lifestyle he will wanting at that point and should probably re-evaluate it as time goes. The whole point is to start saving early regardless.

I already disclosed that I'm only a CPA, but I think I'm qualified enough to lend some advice. It's up to him to decide and you can feel free to chime in.

I absolutely do not agree that you're qualified to give advice here, sorry. You don't seem to understand that financial advice goes beyond the letters after your name -- it involves a one-on-one relationship where you get to know someone personally and understand how their lifestyle affects their finances.

 

[Dazed and Brutal]

I absolutely do not agree that you're qualified to give advice here, sorry.

word. do you even know about the deductibility of traditional ira/tsp limitations? forced distributions? or that many people end having to back-door into roth ira's in the future anyway?

edit: I'll dig into the minutia if you want me to. it's not nearly as simple as being in a lower tax bracket at retirement

 

[Dazed and Brutal]

I absolutely do not agree that you're qualified to give advice here, sorry. You don't seem to understand that financial advice goes beyond the letters after your name -- it involves a one-on-one relationship where you get to know someone personally and understand how their lifestyle affects their finances.

I agree, but he still needs to save as much as possible now and aggressively given the 35 year timeline. There's no way to be precise about his "lifestyle" at the moment and there's no reason to fret over market crashes in the short term given the natural ebbs and troughs of the market and that he will be investing in index funds. At some point he does want to temper the investments and move things around, but that's a null point today. You'd be an idiot diversifying into bonds for a retirement forecasted out 35 years.

edit: Plenty of people have recommended seeking the advice of a financial advisor which he should absolutely do before committing to anything concrete. I'm speaking on things I learned while in grad school. However, getting so hung up on the man's lifestyle 35 years away from retirement is silly. I'm sure he's sensible enough to save what he can while still budgeting for short to long goals and such.

 

[CiG]

 

[Dazed and Brutal]

lol I mean he's making fair points. RMS just wanted to know which fund to invest in which is a simple enough thing to answer given the timeline. There is plenty of debate about Roth vs Traditional.

 

[Funerary_Doom]

They mostly work in our favour here, in my experience. Teachers Unions and Police Unions are the worst imo.

Nope. Teachers and cops are the least respected professions ever. Labor laws wouldn’t cover us if we didn’t have a union. We need one in order for students or people not to like kill us at work and get away with it. Also administration then could easily let you go if not for a union and mandate shit that is unfair. Like some teachers teach over 100 students and they have to grade and plan and give feedback to all those students. Imagine if they had to do other bullshit on top of that crazy ass workload? Which is what administration always tries to throw at you.

 

[CiG]

I just think it should be easier for shitty teachers and shitty cops to get fired.
I don't really have much sympathy for the work load of teachers but that doesn't mean I'm saying get rid of teachers unions.

 

[rms]

but I've since transferred them to an IRA since ETSing.

mine was from the army too, you transferred it to a private Roth IRA?

 

[Dazed and Brutal]

I did, but that was just because of the flexibility of IRA for me. I was young when I was contributing to the TSP and I never put a whole lot into it. There's no reason you have to transfer out of the TSP really. I would just see if your using a Traditional or a Roth. It's most likely a Traditional TSP If you're contributing pre-tax dollars. I can't remember a lot of the TSP benefits vs civilian offerings, so I don't know if there's limits on deductibility. For instance, I couldn't deduct Traditional IRA contributions at my first job because my income was too high (it starting phasing out at around $60,000). It wouldn't be that much of an issue If you can still deduct your contributions and expect to continuing doing so overtime.

 

[Vegard Pompey]

Drinking, spinning around in a swivel chair and listening to Droid. I'm dizzy on three different levels!

 

[Krow]

Ate a 17 hr shift to the face. Just now getting home and cleaned up. Bleh

 

[Funerary_Doom]

I just think it should be easier for shitty teachers and shitty cops to get fired.
I don't really have much sympathy for the work load of teachers but that doesn't mean I'm saying get rid of teachers unions.

You don’t need to have sympathy for teachers workload. Just know it is a lot and most teachers do try to be good and bust their ass at work while simultaneously helping parents properly raise their children. It amazes me how people just don’t respect teachers but it’s also because they literally have no idea what the job truly entails anyways. It’s not only teaching a subject and grading papers.

There’s some charter schools that are from 7am to 4:30pm. And the teacher still has to go home and lesson plan and grade and contact parents. Easily a 12 hour day. And forget it if you actually want to do programs to help students catch up with math and reading. Or any after school programs like any kind of sport teams for the kids.You’ll basically live at work, which a lot of teachers do just to run programs and to help their students. Whatever.

In addition, it’s actually not that hard to be fired as a teacher. Here in NYC you are rated so if you continuously get rated low by administration they can let you go. It’ll be very difficult for a low rated teacher to find a teaching position that would hire him or her. They’ll have to accept a position called RTA which is like similar to a substitute but for the entire district. Everyday different building and school. They have heir own supervisors and because they are already rated low they are easily let go. The few bad stories you hear isn’t representative of the whole.

Also here you lose your tenure if you repreatedly receive low scores for three consecutive years. Without tenure they can get rid of you very easily. The teachers union is nowhere near as strong as the police union. Though both professions need a union and it would make sense that end police union would be stronger. In any event, administration is tough because they have to blame someone (that’s not themselves of course) if the schools not doing well and the easiest finger to point is to the teachers. It’s not like they are doing this out of malice always (though sometimes it is) but they are just trying to keep their jobs too.

 

[CiG]

You don’t need to have sympathy for teachers workload. Just know it is a lot and most teachers do try to be good and bust their ass at work while simultaneously helping parents properly raise their children. It amazes me how people just don’t respect teachers but it’s also because they literally have no idea what the job truly entails anyways. It’s not only teaching a subject and grading papers.

There’s some charter schools that are from 7am to 4:30pm. And the teacher still has to go home and lesson plan and grade and contact parents. Easily a 12 hour day. And forget it if you actually want to do programs to help students catch up with math and reading. Or any after school programs like any kind of sport teams for the kids.You’ll basically live at work, which a lot of teachers do just to run programs and to help their students. Whatever.

A lot relative to what? I'm not trying to shit on teachers here, my complaint about Teachers Unions is based on a respect for the profession and the role they play in society, same with police. I also have nowhere stated that I don't support unions, I definitely do. But I've worked in the mines, I've worked 12 hour days getting up at 4:30AM, at work by 5AM and home by 5PM working on construction sites and properties all day.

And that's a job with very little in the way of holidays and time off. It's not a competition (thankfully I work for myself these days but it took a lot of ass-busting to get there) but I swear teachers can be a little self-pitying at times.

The few bad stories you hear isn’t representative of the whole.

Of course. This also goes for the police. But I think it becomes a problem when the few bad examples of a profession as important as teaching or policing are very hard to remove from the body of the profession.

In addition, it’s actually not that hard to be fired as a teacher. Here in NYC you are rated so if you continuously get rated low by administration they can let you go. It’ll be very difficult for a low rated teacher to find a teaching position that would hire him or her.

I can't speak to the way it is in America, especially in a specific state, but here in Australia the Australian Education Union makes it so hard to have shit teachers fired, often dragging the process on for months and months which of course impacts the students and the school that they work with.

 

[Funerary_Doom]

@CASSETTEISGOD i know a lot is users here make it seem that America gives out a lot of things for free, but the reality is America does not. This isn’t Europe. I’m in a pretty liberal state and even here they’ll fire your ass if you say something “offensive” to the wrong person (aka someone who’ll report you). There was a situation at my old school in which a teachers assistant lost her job because some kid said the room smelt like a fart and her response was “if you smelt it then you dealt it.” The kid made a huge stink about it and she was fired.


I’m not trying to endorse self pity here. Contrary to all my complaints I actually do think this is one of the best jobs in the world. And I’m not being facetious or exaggerating. I truly mean that. However, I am also aware that they are under a lot more scrutiny than most professions even when they are just trying to do their job. I get that a lot of other jobs are equally just as demanding and difficult. Demanding and difficult doesn’t really bother me. What does bother me is the lack of respect because most teachers I know really do bust their ass and neglect their own families and life. I’d never question the police union even though I do think some police get away with murder. I don’t get people questioning teachers unions as if we just sit at our desk until it’s time to go.


I’m not familiar with Australian board of education. I’d have to look it up to speak on it. However, what I know now about teaching, I still support teachers unions. Revoking someone’s license is a serious thing. That should take time unless the teacher beat up a student or something.

 

[CiG]

@CASSETTEISGOD i know a lot is users here make it seem that America gives out a lot of things for free, but the reality is America does not.

Oh I don't think that at all. You're speaking to an Australian don't forget, probably the best social democracy on earth, at least imo.

I’m in a pretty liberal state and even here they’ll fire your ass if you say something “offensive” to the wrong person (aka someone who’ll report you). There was a situation at my old school in which a teachers assistant lost her job because some kid said the room smelt like a fart and her response was “if you smelt it then you dealt it.” The kid made a huge stink about it and she was fired.

That might actually be a problem because it's a "liberal" state. Can't have the kids have their feelings hurt or something. I don't agree that teachers should be fired for things like that, at all. She basically slammed the little cunt with a zinger and no doubt the no nonsense emotions based policy backfired on her, when it's actually supposed to make sure kids don't bully each other. Sounds like the exact kind of mess that would come out of a school in a "liberal" state.

I'm more opposed to technically shitty teachers, rather than teachers who don't mind messing with kids to take them down a peg or two.

I’m not trying to endorse self pity here. Contrary to all my complaints I actually do think this is one of the best jobs in the world. And I’m not being facetious or exaggerating. I truly mean that. However, I am also aware that they are under a lot more scrutiny than most professions even when they are just trying to do their job. I get that a lot of other jobs are equally just as demanding and difficult. Demanding and difficult doesn’t really bother me. What does bother me is the lack of respect because most teachers I know really do bust their ass and neglect their own families and life. I’d never question the police union even though I do think some police get away with murder. I don’t get people questioning teachers unions as if we just sit at our desk until it’s time to go.

Is this really true though? Seems like every single time I switch on a television, some show or pundit is heaping glowing praise on teachers. It's like right-wingers who complain about a lack of respect for police or military, it just doesn't connect with my reality. Teachers, doctors, nurses, fire fighters, cops, soldiers, those are all professions that seem to get universal social praise while at the same time are treated as if they're underappreciated.

I don't think teachers are so above us all and so without fault that questioning teachers unions (more accurately, questioning the sometimes very heavyhanded protections they give to teachers who should be subject to competition and failure to make the case that they deserve to remain employed by the teachers unions) is something beyond your ability to get.

I also think teachers have some blame in the male rate of failure in schools. The education system moreso.

 

[Funerary_Doom]

Dude. Some unions -may- be too powerful and the police union -may- be an example of that. However, the teacher’s unions is sure the fuck not. Otherwise teaching wouldn’t have such a high turnover rate as it currently does. I can tell you the teachers union is not powerful at all. If anything, it’s actually pretty weak. It’s not my ability to get. Quite frankly, it’s my job I get it pretty damn clearly. I don’t think you really know how unions operate or what constitutes as a powerful union. I’m not being snarky, it’s really just what it is. If you can get fired over a comment then that should already tell you you’re not very protected.

All of those professions you listed may get praise but they are constantly under scrunity. Moreover, when something goes wrong it really is their ass on the line and especially with teachers they are typically the first ones to blame.

Also, kids failing has to do with their home situation moreso than teachers. Come on. You know how many kids I have that don’t know how to read in the 7th grade? How the hell is that the teachers fault and not the parents?

 

[no country for old wainds]

on a semi-related note, idk if any of you heard this story but it made national news here and even some international news sites i think. this happened at my high school (sry if i mentioned it already): http://www.telegraph.co.uk/educatio...ents-complain-about-Muslim-prayer-lesson.html

 

[CiG]

However, the teacher’s unions is sure the fuck not. Otherwise teaching wouldn’t have such a high turnover rate as it currently does. I can tell you the teachers union is not powerful at all. If anything, it’s actually pretty weak. It’s not my ability to get. Quite frankly, it’s my job I get it pretty damn clearly. I don’t think you really know how unions operate or what constitutes as a powerful union. I’m not being snarky, it’s really just what it is. If you can get fired over a comment then that should already tell you you’re not very protected.

There's only so many times I can explain that I am talking about unions here in Australia (a union-heavy country with a strong labour movement going back decades) and that I don't know the situation with unions in your country. I’m not being snarky, it is really just what it is.

Also, kids failing has to do with their home situation moreso than teachers. Come on. You know how many kids I have that don’t know how to read in the 7th grade? How the hell is that the teachers fault and not the parents?

I don't agree with this. What has changed significantly in the home life to cause this vs. what has changed in the education system and teaching methods? I think you'll find that the latter has had the largest impact on boys in school. Parents didn't just suddenly become useless at raising their sons in the last 20 years.

 

[Dak]

School and society has become anti-male, in-so-far as males don't act as females. The last havens are male team sports and to an increasingly lesser degree, fraternities, the military, and gangs.