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I don't understand why IRA contribution limits apply to Roth IRAs. I mean, I know why TRADITIONAL IRAs have contribution limits - the money you put into a Traditional IRA is before-taxes, so the government has an interest in limiting how much money you can shelter from taxation. But Roth IRA contributions are AFTER taxes... so why bother with limiting contributions?
Because it allows you to shield that money's growth from income (e.g. most bonds, most reits) and capital gains tax (stocks, qualified dividends), something the government wants to limit for people in the upper brackets during accrual or retirement.

If they took away the ability to penalty-free withdraw your Roth's contributions, I could see them raising the contribution cap significantly.
 

GasBandit

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Because they want a limit on the amount you can take out without paying capital gains tax?
Because it allows you to shield that money's growth from income (e.g. most bonds, most reits) and capital gains tax (stocks, qualified dividends), something the government wants to limit for people in the upper brackets during accrual or retirement.

If they took away the ability to penalty-free withdraw your Roth's contributions, I could see them raising the contribution cap significantly.
Hrm, I suppose that makes sense, but it seems to me it would be better to move the limit to the other end - IE, no limit to contribution, but you pay taxes on disbursements if they exceed, say, 100k annually or something.

I mean, they already have an income limit for contributing (you can't contribute to a Roth IRA AT ALL if you make $135k/yr+).
 
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Hrm, I suppose that makes sense, but it seems to me it would be better to move the limit to the other end - IE, no limit to contribution, but you pay taxes on disbursements if they exceed, say, 100k annually or something.

I mean, they already have an income limit for contributing (you can't contribute to a Roth IRA AT ALL if you make $135k/yr+).
It might be, but that would be sort of taxing at both ends, not really what Roths are about. That sounds like a great third vehicle, though (unlimited after-tax contributions, modified [maybe akin to Social Security's?] distribution taxes). I'm all for people getting more control over retirement savings in the U.S., seeing the way the country's government safety nets are going.

You can still use the backdoor or the mega backdoor, though.
 
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So, Elon Musk's lawyers are trying to get the "pedo guy" lawsuit against him dismissed with the "everybody's a lying asshole online" defence
 
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My self-indulgent post of all the books & comics I've read this year. Books were all audiobooks, technically. The comics listed are collected editions & graphic novels since I don't read single issues anymore.

Books: 27 (down from 47 in 2017)
Comics: A whopping 235 (Up from 162 in 2017)

A vast majority of the comics listed came from the library, I might add. The Halifax libraries have been a godsend in saving me money while still reading many great books. And trying books I'd never read before or heard of. Many of which I've either started buying or plan to buy in the future.

Most self-indulgent was, like last year, listening to the audiobook of my own work. Last year was the audiobook version of The City of Smoke & Mirrors. This year was the audiobook version of The Dame was a Tad Polish.

Someone suggested I use Goodreads this year for making up my list. That's not a bad idea. I've barely used Goodreads in the past. Not sure if it'll do a final, year-end tally like this.

(Spoilered due to the size of 4 screenshots)

Comics Read in 2018 1.png Comics Read in 2018 2.png Comics Read in 2018 3.png [/spoiler
 

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Dave

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I went to bed early. Not that I don't care that it's a new year, just that since we're not going out why wait up.
 
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I had the mythical "fun New Years without being hammered." I can't say I'd recommend it over the standard variety but I certainly feel better today than normal.
 
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We did our annual "Stay-In Pajama Party", partially because no matter what, Li'l Z and Pepper are going to wake us up between 6:30-7 AM. But my best friend came over, we ordered sushi from our favorite place, had a bunch of fancy appetizers and some drinks, binged on The Good Place, played games, stayed up until midnight and then wandered off to bed. I like NYEs like this.

Also, today it's around 60 F right now and partly cloudy, so that's pretty awesome.
 
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Did our usual party with our younger friends. We had about 20 adults and 10 kids under 10. Most of them started crying when the first snappers started popping. But within the hour the kids were begging us to set off the really loud artillery shell fireworks.
 
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We had comfort food for all then Mario Karted the new year in. I stopped playing after winning 5 rounds in a row, then my daughter took over and schooled people for the remainder.
 
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This is a little whine and a big win rolled into one.

Aussie got a text from our bank asking if he made about 5 or 6 charges to his debit card. We haven't bought anything in 2019 so far. Call up the fraud center. Someone's been using our card in GA. It'll be a few days to have the charges reversed. Aussie got issued a new card.

How can that possibly be a win? The biggest charge the person/people made on his card was $17 at Starbucks. The rest were under $3. About $30 when all is said & done. Aussie's retirement pay was deposited early because of the holiday, too. So they could have had a good shopping spree if they wanted to. Fortunately our regular paychecks get deposited into another account so we don't even have to worry about having a hold that will prevent us from paying the rent. :)
 

Dave

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I get back to work to find that one of my major projects has stalled in IT. I had a Jan 1 deadline and my part was finished at the beginning of December. Getting them to respond has been like pulling teeth.

So, of course, I sent a request for an update for this 1-hour IT job that has taken a month and told them I was past deadline and would thus be bothering them more. Today I cc: my boss so he would know what's going on (I already told him but this gives a record). Tomorrow I include HIS boss. Friday I will include the VP who requested the job be done.
 
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I get back to work to find that one of my major projects has stalled in IT. I had a Jan 1 deadline and my part was finished at the beginning of December. Getting them to respond has been like pulling teeth.

So, of course, I sent a request for an update for this 1-hour IT job that has taken a month and told them I was past deadline and would thus be bothering them more. Today I cc: my boss so he would know what's going on (I already told him but this gives a record). Tomorrow I include HIS boss. Friday I will include the VP who requested the job be done.
Tarps off boys.
 

Dave

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My actual wording:

Other than that, the wording Bryan put is fine. I’m past deadline now so I’m going to push a little harder and bother you a little more. I apologize in advance.

So…any updates? :)
There was more before this quote but it is job specific and was redacted.
 
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