NiteFlyer's Account Talk

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RealMoneyIssues said:
Interesting visual... why?
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I hate when a day ends positive and the next one starts well below the previous close and then rises nicely to just make it above zero again. It makes me feel as if, it weren't for the after-hours traders, we would have had a nice increase instead of just back to zero.
 
RealMoneyIssues said:
Only because of the inaction of Congress...
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Since we're talkin politics, here's what I think. That president is pushing his eo's and some big boys are helping him look good, getting the market to rise, i.e. the S fund. Join in on the market fun, just keep your powder dry. Also the inauguration must bring up the stocks, n'es pau? A few other things are going to keep it going up, like Jan being a good month for the market. Just dig in your heels.
 
Glad to see someone else who like to watch the aftermarkets, I find it has it's own personality, once you know it, it speaks to you...
 
I just dropped my contributions from $17,500/yr to 5% (to still get maximum matching contributions) and changed it to ROTH. I plan to pay off debt with the extra money in my paycheck then invest in stocks I can actually buy and sell more than twice a month and not only at daily closing prices. Wish me luck! (and advice is always good too)
 
The I-Fund trail today looks like some fighter jock has a reporter in his back seat and is trying his best to get him air sick.
 
NiteFlyer said:
I just dropped my contributions from $17,500/yr to 5% (to still get maximum matching contributions) and changed it to ROTH. I plan to pay off debt with the extra money in my paycheck then invest in stocks I can actually buy and sell more than twice a month and not only at daily closing prices. Wish me luck! (and advice is always good too)
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Wow... this wasn't as big of a change as I thought. I only picked up about $200 in my paycheck. Maybe I'll need to switch that 5% back to 401K from ROTH.
 
NiteFlyer said:
Wow... this wasn't as big of a change as I thought. I only picked up about $200 in my paycheck. Maybe I'll need to switch that 5% back to 401K from ROTH.
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That is because of the tax benefits. By reducing your contributions to TSP, you increased your taxable income and Uncle Sam takes his share... :)
 
RealMoneyIssues said:
That is because of the tax benefits. By reducing your contributions to TSP, you increased your taxable income and Uncle Sam takes his share... :)
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I knew that... I made a rough estimate of how much my check would change. I was thinking that the roughly $11,500 decrease in funds going into my TSP would result in more than a $200 increase to my paycheck. $200 x 26 pay periods is $5200 so... that's more than 50% missing from that $11,500. It must have put me in a higher tax bracket for withholding purposes. Although technically the actual tax burden is on the entire $17,500 since the $6,000 I am putting in is going to my ROTH so, the withholding rate would be about 36%. ($17,500 (original amount withheld)-$5200 (additional pay) - $6,000 (going to ROTH))= $6,300 (withheld for taxes) / $17,500 = 36%
 
NiteFlyer said:
I knew that... I made a rough estimate of how much my check would change. I was thinking that the roughly $11,500 decrease in funds going into my TSP would result in more than a $200 increase to my paycheck. $200 x 26 pay periods is $5200 so... that's more than 50% missing from that $11,500. It must have put me in a higher tax bracket for withholding purposes. Although technically the actual tax burden is on the entire $17,500 since the $6,000 I am putting in is going to my ROTH so, the withholding rate would be about 36%. ($17,500 (original amount withheld)-$5200 (additional pay) - $6,000 (going to ROTH))= $6,300 (withheld for taxes) / $17,500 = 36%
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Nite, just a thought, did you account for the 2% increase in FICA starting the first of this year? that would be $ 2400 yearly ($ 92 per PP). Could account for the high withholding %. i.e. the 2% would affect your take home pay. In other words, all of the change in take home may not be from the reduction in your TSP contribution.
 
Scout333 said:
Nite, just a thought, did you account for the 2% increase in FICA starting the first of this year? that would be $ 2400 yearly ($ 92 per PP). Could account for the high withholding %. i.e. the 2% would affect your take home pay. In other words, all of the change in take home may not be from the reduction in your TSP contribution.
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Yeah, my TSP change just happened this last pay period. The FICA change happened the previous pay period. An extra $200 per PP will be nice but, I was thinking it would be more like $400. I should have run the calculations. If I change the ROTH back to 401K, I think I can get another $90 per check. I get my step 9 late this summer. That will be a little more too.
 
Well, I picked the wrong day to move to G. I to S would have been nice for the day. I hope to get back in on the 1st of the month and ride upward more. Maye tomorrow will be thhe down day I expected and won't have completely wasted an IFT.
 
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