Year end family financial discussion/Carlos Pueblo
It has been
more than 10 years since Arthur’s full time working with a grocery
store that
we maintain a yearend family financial discussion, mostly on his
saving and
investment strategy. Michelle is on the other hand announcing her
total assets
that makes me quiet for a year. Amy’s portfolio is fine except two
blue chips
stocks, one oil and another one auto,
are less impressive this year.
We do have
something originally from nothing by reserving the capital through
Saving.
It has been
a first full year that he contributes 50% of his earning toward his
company’s
401k; therefore, he has a good size of deduction of 1040 to offset
his dividend
from his old uniform gift to minor account Texas and now a
regular
account which generates almost one third of his annual earning income.
due to his
income level, he is allowed to contribute annual regular IRA account
and he does
just that every year. The IRA account also generates dividend which
is sheltered
till the withdraw in later year of his life. We welcome his staying home
to save all
of this fund. I help him to figure out his total asset at the end of the
year and
this will definitely build up his confidence and the feeling of happiness.
I myself
have the 70 ½ year old Mandatory Minimum
Distribution, MMD, in my
mind for the
entire year. I have my deadline at the end of 2019; therefore, I have
my strategy
setup to convert more regular IRA to Roth next year to decrease the
total amount
of all pension money to be divided by the mandatory number of
withdraw for
the first year. At the same time, I shall keep on getting a loan from
0% interest
loan from my credit card to serve as my cash flow. This way, I shall
Leave the
maximum amount to stay in the stock market.
No comments:
Post a Comment