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How hard is inflation going to hit, or has hit?

[486] said:
when you make your posts unquotable with an easy button click it comes across as you being the sort of bitch that comments then blocks
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It's okay. He will get bored and go away soon enough. I think it's past nap time.

Anyone want to bet on how much the fed is going to drop the interest rates after the election?

I think .25 for Drumpf and .50 for Harris.
 
I don’t understand the hate on 401k plans. A lot of people on here hate paying taxes. Taking advantage of your companies 401k plan will help you pay LESS taxes to the government. In 2024, the contribution limits are $23,000 for people under 50, and $30,500 for people 50 and older. For example, if you make $100k/year, are less than 50 yrs old, and put the maximum amount into your 401k account, then you will only be taxed like you made $77,000/yr. You will pay LESS money to the gov’t. If you are over 50, and put the max in, then you will only be taxed like you made $69,500. Most 401k plans have options other than just stocks if you have a fear of the stock market. Most companies also match the employees contributions that results in about $3,000/yr give or take some based on your company. If you take advantage of that over 40 years, that is an additional FREE $120,000 over your working career deposited into YOUR 401k account in the fund that you choose that will grow along with all your own money contributed.
 
DannyK said:
I don’t understand the hate on 401k plans. A lot of people on here hate paying taxes. Taking advantage of your companies 401k plan will help you pay LESS taxes to the government. In 2024, the contribution limits are $23,000 for people under 50, and $30,500 for people 50 and older. For example, if you make $100k/year, are less than 50 yrs old, and put the maximum amount into your 401k account, then you will only be taxed like you made $77,000/yr. You will pay LESS money to the gov’t. If you are over 50, and put the max in, then you will only be taxed like you made $69,500. Most 401k plans have options other than just stocks if you have a fear of the stock market. Most companies also match the employees contributions that results in about $3,000/yr give or take some based on your company. If you take advantage of that over 40 years, that is an additional FREE $120,000 over your working career deposited into YOUR 401k account in the fund that you choose that will grow along with all your own money contributed.
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You pay less taxes "now". Do you have any idea what the tax rate will be when you go to drawl it out?

I'm not saying not to have a 401K especially if you get a 100% match. I just think there are better alternatives like the ROTH where you pay tax now and regardless how much it gains....its not taxed.
 
Thumping said:
You pay less taxes "now". Do you have any idea what the tax rate will be when you go to drawl it out?

I'm not saying not to have a 401K especially if you get a 100% match. I just think there are better alternatives like the ROTH where you pay tax now and regardless how much it gains....its not taxed.
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I know what my tax rate is now, and I know I won't be withdrawing nearly my income level when I am retired, therefore my marginal rates will be lower in retirement than now.
 
Thumping said:
You pay less taxes "now". Do you have any idea what the tax rate will be when you go to drawl it out?

I'm not saying not to have a 401K especially if you get a 100% match. I just think there are better alternatives like the ROTH where you pay tax now and regardless how much it gains....its not taxed.
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In retirement, you can manage your tax rates easier than you can now. If you're planning well enough.
 
Levigarrett76 said:
Reading the first page of this thread again, now, is interesting
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Yea, it's wild.

Quoting myself from 2021-

45acp said:
I understand I'm in a shitty location... but 900k here is Hugh Hefners house on 100 acres with a 56 acre lake. :laughing:
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3 years later 900k is just two of my house. Generic 2000ft new build with a little 30x40 shop on 2 acres. My quote above would be 2mil+ now in this area.
 
45acp said:
Yea, it's wild.

Quoting myself from 2021-



3 years later 900k is just two of my house. Generic 2000ft new build with a little 30x40 shop on 2 acres. My quote above would be 2mil+ now in this area.
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But "inflation just means more dollars!"
 
Levigarrett76 said:
But "inflation just means more dollars!"
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Oh I know right?

We bought a 245k house in 2018 that is now worth $450k.

my wife- "OMG we need to sell and buy our dream home!!!1!!"

me- :shaking:

my wife- "But we'd have 350k cash!!!1!!!!!"

me- :shaking: :shaking:

my wife- [confused stare]

me- [mansplains this shit like 5 or 6 times]

my wife- "Oh...... yea.... okay. I understand. Yeah that won't work."

:shaking:
 
45acp said:
Oh I know right?

We bought a 245k house in 2018 that is now worth $450k.

my wife- "OMG we need to sell and buy our dream home!!!1!!"

me- :shaking:

my wife- "But we'd have 350k cash!!!1!!!!!"

me- :shaking: :shaking:

my wife- [confused stare]

me- [mansplains this shit like 5 or 6 times]

my wife- "Oh...... yea.... okay. I understand. Yeah that won't work."

:shaking:
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Sadly, it's not that you are richer. The dollar has lost that much value.
 
Mikel said:
Sadly, it's not that you are richer. The dollar has lost that much value.
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In this case, it’s irrelevant.

People ignore the fact that if they make $500k on their house, the next place will cost at least $500k more….
 
45acp said:
Oh I know right?

We bought a 245k house in 2018 that is now worth $450k.

my wife- "OMG we need to sell and buy our dream home!!!1!!"

me- :shaking:

my wife- "But we'd have 350k cash!!!1!!!!!"

me- :shaking: :shaking:

my wife- [confused stare]

me- [mansplains this shit like 5 or 6 times]

my wife- "Oh...... yea.... okay. I understand. Yeah that won't work."

:shaking:
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I literally just went through this on the weekend she got all mad at me and I quote


Don't talk to me like I am some stupid five year old.:lmao:
 
rockota said:
In this case, it’s irrelevant.

People ignore the fact that if they make $500k on their house, the next place will cost at least $500k more….
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Like the 3rd or 4th mansplaination, I laid it out like this... (numbers are close rough guesses)

Our current house was 240k. We owe 100k- something. BUT, now its worth $450k. So we sell and have 350k cash. Our dream home is 400k. BUT, now it's worth 800k. We pay 350k down, we have a 450k mortgage.

How much $$$ do we have leftover every month this year with our measly 100k mortgage?
"Not much. Certainly not like 2019."

Okay, what's our interest rate?
"I think around 2.8%?"

Cool, cool. Well right now it's around 7%. So we don't have alot leftover each month to shove in savings.... with a weak ass 100k mortgage at 3%. But we'll be fine with a 450k mortgage at 7%.??? Get out your calculator, and tell me what the monthly payment would be on the 450k at 7%.
[deer in headlights]


:laughing:

FWIW she finally got it. It just took a few tries.
 
Just stopped at a " Farmer Boys" for burger, zucchini and drink.... i about choked when the total was $26!. A reg drink is now 4.79... 7.89 for zucchini and 12.99 for burger. Now I remember why I dont go out much!
 
On the road this weekend, flaked on meal prep, lunch of bland pulled pork on a shitty roll, two hotdogs with vending machine level fixings & freezer to fryer potato wedges, 3 waters was 4.14 per item.

Target food costs at the shitchen I ran was 29% many items high markup to offset the few with higher costs.

I don’t mind buying prepared food, but when it’s meh :shaking:
 
MuntCuffin said:
Whatever tax breaks are realized when you put in, are more than made up for when you take out.

And there are stipulations about how much you can put in and when, and it ain't ran by you. You are forced, if you decide to participate, to invest in vanguard, Blackrock, et al. Its hardly anything like a regular investment account, other than you earn off mutual funds/investments. The .gov gets their flesh on the backend, and the mutual fund admins make theirs on the front. Not to mention is was touted as the great replacement for pensions, which just aint the case.
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Over 3/4 of my Roth & 401k is not limited to to Vanguard, Blackrock etc. When you switch employers just roll all that shit over to your personal 401k/Roth accounts somewhere else and pay no extra fees while able to buy anything. Hell I've been thinking about buying another rental with my Roth if we get a housing downturn.

If you can't, get a new personal investment firm.
 
Levigarrett76 said:
themortgageblog.wordpress.com

Comparing Boomer vs Millennial First Home Markets

A recent article in the Wall Street Journal makes an interesting comparison of the housing markets faced by the Baby Boomer generation in the 1980s vs the Millennial generation of today. Last…
themortgageblog.wordpress.com themortgageblog.wordpress.com


this should stir up some shit
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They really skipped right on over the largest hurdle for buying a home, the down payment. It's a hell of a lot harder to save 20% of the purchase when 20% is what a house used to cost.
 
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