1. #106
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    I just wanted you to say it again so everyone could see how fukking stupid you are.



    Hey guys, brooks says saving for retirement in tax advantaged accounts is a suckers game.



    If any of you believe this, JJ is right. Seek advice elsewhere.
    says the moron who is counting on the government to pay him... again this is why you're known as a joke.

    That and you make bets you literally have 0% chance of winning. That is what happens when you try to talk economics, you fail.

  2. #107
    chico2663
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    Quote Originally Posted by JMobile View Post
    Global index universal life insurance through Transamerica. Anybody heard about that?
    AS someone that received a pension from trans america. DON'T DO IT. A universal life insurance works like this. When you are young the insurance may cost you 200 a yr and your paying 700 a yr. They take out their fees so just say the fees are 20. So you are saving 480 in the fund. But the problem is when you get older and your still paying 700 but the fees are 1200. They take the difference out of your policy. After awhile the policy will self consume. Now if you have extra money to dump in it that is a different thing. They will show you usually at 8-12 % that they pay on the policy but they only guarantee 3.5. By the way if you decide to by this policy make sure they give you the prospectus. To be honest with u a life insurance policy isn't a good vehicle to save unless you have children. If you need life insurance I would take out a limited pay policy. maybe a 10 pay or 20 pay but I 'm not a fan of universal life unless your rich and have a shitload of money you can dump in it.

  3. #108
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    says the moron who is counting on the government to pay him... again this is why you're known as a joke.

    That and you make bets you literally have 0% chance of winning. That is what happens when you try to talk economics, you fail.


    I fail?

    I made 10x the money you made this year doing that very thing.

    Good luck on GE you fukking brain dead wannabe idiot.

  4. #109
    grease lightnin
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    Quote Originally Posted by chico2663 View Post
    AS someone that received a pension from trans america. DON'T DO IT. A universal life insurance works like this. When you are young the insurance may cost you 200 a yr and your paying 700 a yr. They take out their fees so just say the fees are 20. So you are saving 480 in the fund. But the problem is when you get older and your still paying 700 but the fees are 1200. They take the difference out of your policy. After awhile the policy will self consume. Now if you have extra money to dump in it that is a different thing. They will show you usually at 8-12 % that they pay on the policy but they only guarantee 3.5. By the way if you decide to by this policy make sure they give you the prospectus. To be honest with u a life insurance policy isn't a good vehicle to save unless you have children. If you need life insurance I would take out a limited pay policy. maybe a 10 pay or 20 pay but I 'm not a fan of universal life unless your rich and have a shitload of money you can dump in it.

    Ya gotta max non-mec that biatch.

    Roth with a free physical!!!

    Amirite, Chico?

  5. #110
    chico2663
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    Quote Originally Posted by Shute View Post
    Professional

    Guys don’t get it.
    I am
    Not a tout
    But I go pro with retirement that is complicated.
    That is no brainer
    You want to work when your 60?
    shute make sure you have a long term disability policy. I had a stroke 4 years ago. I get 2600 tax free a month. Just waiting til I get 59.5 before I can get into my retirement without paying that 10 % penalty. I was told I could get into now but would rather wait

  6. #111
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    I fail?

    I made 10x the money you made this year doing that very thing.

    Good luck on GE you fukking brain dead wannabe idiot.
    no you didn't lol

    no chance in hell you did in fact haha I made your salary on one play this year and it was documented on this forum lol you clown
    Notice the trend the more you post the deeper your hole gets.

  7. #112
    chico2663
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    Quote Originally Posted by grease lightnin View Post
    Ya gotta max non-mec that biatch.

    Roth with a free physical!!!

    Amirite, Chico?
    When i started my s.e.p. there was no such thing as a roth. I refuse to pay the extra money but if I was younger I prolly would. I just think that they are going to change the law. People say they can't do it. Well they double tax people when they die. Now it is up to 5.5 million but it used to be a million a year ago.

  8. #113
    Shute
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    Quote Originally Posted by chico2663 View Post
    shute make sure you have a long term disability policy. I had a stroke 4 years ago. I get 2600 tax free a month. Just waiting til I get 59.5 before I can get into my retirement without paying that 10 % penalty. I was told I could get into now but would rather wait
    Yes
    I understand
    However fortunately
    No disability insurance
    Insurance game is a gamble in itself
    Just go to church
    Pray
    Not for anything but for society
    Hate
    Insurance
    Hate
    Lawyers
    Hate
    Government
    Just lucky to get out at right time

  9. #114
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    no you didn't lol

    no chance in hell you did in fact haha

    and best part is I have record of some my big winners and you have nothing. Notice the trend the more you post the deeper your hole gets.

    I have my fukking paystub

    You have record of your big wins? Why because you posted it here? Yeah, that’s a record everyone believes. Gimme a break

    You also recorded that you shovel pig shit.

    Unreal.

  10. #115
    grease lightnin
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    Quote Originally Posted by chico2663 View Post
    When i started my s.e.p. there was no such thing as a roth. I refuse to pay the extra money but if I was younger I prolly would. I just think that they are going to change the law. People say they can't do it. Well they double tax people when they die. Now it is up to 5.5 million but it used to be a million a year ago.

    Chico when I said “max non-mec” I was referring to the maximum amount you can put in a life policy without making it a modified endowment contract.

    Roth with a free physical is a cash value life insurance joke. Get it?


    If you saw what I posted earlier—I think permanent life insurance makes sense when trying to offset estate tax liability


    If they change the law on Roth’s, they will not tax money already in accounts.

  11. #116
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    I have my fukking paystub

    You have record of your big wins? Why because you posted it here? Yeah, that’s a record everyone believes. Gimme a break

    You also recorded that you shovel pig shit.

    Unreal.
    yeah from SALES.... lol


    again, I made your salary on one play this year. $HMNY kid, you should learn when you're speaking to your superior. While you're busy following talking heads on TV, I'm actually finding winners you have never even heard of. You're an amateur but you pretend to know what you're talking about is the problem.

  12. #117
    marcoloco
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    Plan A - Cle Browns winning it all, parlayed with Tails coin flip in the big game
    Plan B - Lottery

  13. #118
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    yeah from SALES.... lol


    again, I made your salary on one play this year. $HMNY kid, you should learn when you're speaking to your superior. While you're busy following talking heads on TV, I'm actually finding winners you have never even heard of. You're an amateur but you pretend to know what you're talking about is the problem.

    I don’t make a salary. Only commission. I am a professional.

    Keep bragging on trades you never made, clown

  14. #119
    Shute
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    Only thing for sure
    Social security
    Ain’t there in 20 years

  15. #120
    chico2663
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    Quote Originally Posted by brooks85 View Post
    no you didn't lol

    no chance in hell you did in fact haha I made your salary on one play this year and it was documented on this forum lol you clown
    Notice the trend the more you post the deeper your hole gets.
    i met immelt at his wife andrea high school anniversary. I was dating an older girl that was her classmate. What a douche. But one thing people don't realize is that they are trying to get into robotics. Lot of my friends retired from there. They were great in the 80's. I keep thinking about rebuying there stock. I passed there everyday on 75. I had a trucker lose his tire i75 s and it went over my caddy and killed a guy. Brooks didn't know if you know but lincoln heights is on the otherside of it. piles,spencerware and the isley brothers were from there. Also couple of the ohio players were from there. Just a fun fact.

  16. #121
    grease lightnin
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    Brooks if you made even half the money I do, there is no way you would put up with the smell of pigs on your property.

  17. #122
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    I don’t make a salary. Only commission. I am a professional.

    Keep bragging om trades you never made, clown
    that's the best you got huh?


    Again, $HMNY


    and you said I didn't know about GE lol

  18. #123
    chico2663
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    Quote Originally Posted by Shute View Post
    Only thing for sure
    Social security
    Ain’t there in 20 years
    would of been in reagan and every president after him didn't use it as a piggy bank. This tax cut is going to be horrible for middle class. Look for ryan and mcconnell use that to try to privatize it.

  19. #124
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    Brooks if you made even half the money I do, there is no way you would put up with the smell of pigs on your property.
    yes I can because how much money I'm saving and making compared to you because of it

    bigger house, more land and lower taxes than you. Trends.

  20. #125
    hotcross
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    yeah a couple guys here fired up

    Retirement plan? Only the good die young!

    Seriously the more you save starting at a young age, the better. While taking care of your physical health as a top prioriry.

    I've attempted to retire 3 times in my life, all proved too early. Working now but it's not work to me because I enjoy it well enough...that is important to mental health if you can do that also.

  21. #126
    brooks85
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    Quote Originally Posted by brooks85 View Post
    yes I can because how much money I'm saving and making compared to you because of it

    bigger house, more land and lower taxes than you. Trends.
    that's the difference between a winner and a loser like you grease. You move into the top 20th richest county in the entire nation, I move a mile outside the county line and save a fortune, make a fortune and the money I saved? Also, now working for me to make more.


    winner mentality vs loser mentality


    but you keep on counting on that IRA... lol
    Last edited by brooks85; 11-30-17 at 09:06 PM.

  22. #127
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    that's the difference between a winner and a loser like you grease. You move into the top 20th earning income county in the entire nation, I move a mile outside the county line and save a fortune, make a fortune and the money I saved? Also, now working for me to make more.


    winner mentality vs loser mentality


    but you keep on counting on that IRA... lol


    Whatever you say porky.

  23. #128
    grease lightnin
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    Quote Originally Posted by Shute View Post
    Only thing for sure
    Social security
    Ain’t there in 20 years
    Wrong

  24. #129
    brooks85
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    ^we already established that between you and I it is whatever I say when I suckered you into that brexit bet.


    is it tough for you to know that animals rolling around in shit make me more than you do in a year?

  25. #130
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    Wrong
    lol there is that "hope" that I enjoy so much.

  26. #131
    brooks85
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    Quote Originally Posted by Shute View Post
    Only thing for sure
    Social security
    Ain’t there in 20 years
    20 years probably a little too soon but it's comical they have already acknowledged they can't pay and grease is counting on his IRA...

  27. #132
    chico2663
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    [QUOTE=Shute;27393969]Only thing for sure
    Social security
    Ain’t there in 20 years[sorry double post

  28. #133
    Shute
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    Social security is something that every employee has paid
    If you were employed at one time then you paid into social security
    Now let’s see
    It will bankrupt in 10 years
    But you paid yours
    Hopefully WE can pay ours?

  29. #134
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    20 years probably a little too soon but it's comical they have already acknowledged they can't pay and grease is counting on his IRA...

    They can:

    Raise the income limits to pay SS tax.

    Raise the ages to receive, as they should with life expectancy increasing

    Adjust the COLA

    Raise Payroll Tax


    There are many options and no politician wants to be the bag holder

    It will be adjusted.
    Points Awarded:

    chico2663 gave grease lightnin 1 Betpoint(s) for this post.


  30. #135
    chico2663
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    all they would have to do is raise it 40,000.that is 2700 payer and 2700 company.

  31. #136
    JIBBBY
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    Retirement - Work, save, invest.. Make that a goal and your mission in life..

    Establish perfect credit and get a loan to buy a commercial property or even a residential apartment building after you make a huge down payment with your saved money.. Leverage and get a loan... If you are a retard and can't take the stress of managing tenants or fixing shiiit when it breaks then hire a management company to manage your new bought property and pay them 6% management fee..

    Then you continue to work hard and try and pay off that bank loan that you got with that apartment building you bought.. Put all your rental income into that bank loan until you pay it off, don't skim off the top... In the end you will own the apartment building with no loan after 15 years or so if you try hard to pay it off.. You then will always receive those monthly rent checks from all your tenants and pocket it, hense you then can retire....

    Retire happy and paid.. End of story... Just that simple... That's what I did..

    Remember the stock market can always crash and your stocks can zero out even, can lose everything.. With Real Estate property that will always be there standing for you, people will always need a place to live... Last I checked God ain't making any more land so got get some while you're still young!!!

    Last edited by JIBBBY; 12-01-17 at 12:02 AM.

  32. #137
    thomorino
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    Social security will be there, but it won't be government guaranteed for higher income people, it will be privatized for people making over 100k. The real issue is medicare, social security is fine if the government wants to secure it.

  33. #138
    The Kraken
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    Roth, state pension, real estate, social security for beer money

  34. #139
    brooks85
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    Quote Originally Posted by grease lightnin View Post
    They can:

    Raise the income limits to pay SS tax.

    Raise the ages to receive, as they should with life expectancy increasing

    Adjust the COLA

    Raise Payroll Tax


    There are many options and no politician wants to be the bag holder

    It will be adjusted.
    lol that's the funny part, I already factored all of this in. Of course they will raise taxes and twist that knob and flip this switch. It won't work in the end. The unfunded liabilities are too high.

    The government is not going to pay you, you will be a bagholder. Open a history book for once and stop using your ill-informed opinion.

  35. #140
    grease lightnin
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    Quote Originally Posted by brooks85 View Post
    lol that's the funny part, I already factored all of this in. Of course they will raise taxes and twist that knob and flip this switch. It won't work in the end. The unfunded liabilities are too high.

    The government is not going to pay you, you will be a bagholder. Open a history book for once and stop using your ill-informed opinion.


    Brooks you offer nothing but worthless conjecture.

    Go play in traffic

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