World Juniors

[scpa0305]

401ks lower your taxable income and likely have an employer match in the neighborhood of 2-5% of your income. Ignoring that match and tax advantage is stupid, especially if you have significant income. It is highly unlikely that the fees would come anywhere near offsetting the tax advantage and employer match.

When you have significant income, you can no longer enjoy a number of the tax advantages offered to middle income workers such as IRAs, student loan interest exemptions, etc. Once you clear $116k or so, you stop paying into social security- at that point you're nuts not to put that money into a 401k plan- unless you need the cashflow.

Not piling on you man- not making it about you- just offering some sound financial advice.

However many companies will be reducing their match in the future and many employer sponsored 401k investment options are a joke. My advice (unless your employer has a sweet package) is to create something yourself. However, in response to your advice to gfhockey you are correct.

[scpa0305]

Back to hockey-

The "you got beat" is pretty tacky...bothers me how much the canucks hate us in hockey. I don't hate them at all-

Clearly they have an inferiority complex....

Agreed, I have actually started to like their hockey fans less and less over the years and my family comes from Canada.

[yzerman19]

However many companies will be reducing their match in the future and many employer sponsored 401k investment options are a joke. My advice (unless your employer has a sweet package) is to create something yourself. However, in response to your advice to gfhockey you are correct.

How would you create it yourself? I'm assuming income at a level that prevents IRA tax exemption.

[Wilbur]

Agreed, I have actually started to like their hockey fans less and less over the years and my family comes from Canada.

My dad's parents are both born and bred Canadians. I've got a ton of Canadian blood in me but absolutely cannot stand Canadian hockey fans. You win a game you're supposed too and instead of respecting an opponent you pull that crap.

Brutal road to the gold medal game for the United States, and I mean brutal. Russia, then likely Sweden, then a probably rematch with Canada as they should glide into the final.

Have to beat a pesky pesky Russian squad with a great goaltender. They leave him hanging out to dry a lot, but he kept them in the game against Sweden when it could have been 5 or 6 to 2.

[scpa0305]

How would you create it yourself? I'm assuming income at a level that prevents IRA tax exemption.

My current employer and previous employers 401k packages are/were a joke (however they are both publicly traded companies which watch their bottom lines extremely closely). I am an accountant so I know enough talk to keep a conversation going but am far from an investment expert. all I know is my dad's investment broker is setting my bro up with his company to go around the crap options employer provided 401ks have in them. Could be an IRA now that I think of it but those are extremely limited as well. oh well.

[scpa0305]

My dad's parents are both born and bred Canadians. I've got a ton of Canadian blood in me but absolutely cannot stand Canadian hockey fans. You win a game you're supposed too and instead of respecting an opponent you pull that crap.

Brutal road to the gold medal game for the United States, and I mean brutal. Russia, then likely Sweden, then a probably rematch with Canada as they should glide into the final.

Have to beat a pesky pesky Russian squad with a great goaltender. They leave him hanging out to dry a lot, but he kept them in the game against Sweden when it could have been 5 or 6 to 2.

Yeah, many Canadian fans are ridiculous, almost as bad as goofer fans

Agreed on the road ahead, its going to be nasty!

[jodcon]

My current employer and previous employers 401k packages are/were a joke (however they are both publicly traded companies which watch their bottom lines extremely closely). I am an accountant so I know enough talk to keep a conversation going but am far from an investment expert. all I know is my dad's investment broker is setting my bro up with his company to go around the crap options employer provided 401ks have in them. Could be an IRA now that I think of it but those are extremely limited as well. oh well.

Possibly a Simple IRA, contributions to that can be up to 12,000 year (14,500 if over 50) and there are many investment options. Generally employers only match the first 3%, but being able to defer that much of your salary and avoid taxes is a much bigger win down the road.

Just one possibility that crossed my mind.

[scpa0305]

Possibly a Simple IRA, contributions to that can be up to 12,000 year (14,500 if over 50) and there are many investment options. Generally employers only match the first 3%, but being able to defer that much of your salary and avoid taxes is a much bigger win down the road.

Just one possibility that crossed my mind.

Very true, thanks. That's decent amount of money you can put away.

[cberkas]

How would you create it yourself? I'm assuming income at a level that prevents IRA tax exemption.

I have Roth IRA from what I've been told is tax exempt.

[cberkas]

I felt that the US was playing to get a point not to get all 3 points.

[jodcon]

I have Roth IRA from what I've been told is tax exempt.

A Roth is funded with after-tax money, meaning you have to pay taxes on the money before you put it in, the hook with the Roth is when you take it out all the gain is tax-free...meaning if you put 50k in over time and it's worth 100k when you take it out you don't have to pay taxes on the gain.

You used to be able to fund both a Roth and a traditional IRA each year, not sure if anything has changed there.

[MafiaMan]

If I were to withdraw all of the funds out of my 401(k) and move to The Bahamas, would the US win the gold medal at this tournament?

[Frozen4sioux]

If I were to withdraw all of the funds out of my 401(k) and move to The Bahamas, would the US win the gold medal at this tournament?

Most likely however when you came back you would have to pay taxes on the gold medals, which you would then have to sell pre tax for a 3% return on goals against less net gains on the +/- of the center weighted IRA left wing..

That's if Obama doesn't defund it all for a socialist defensive pairing.......

[yzerman19]

Possibly a Simple IRA, contributions to that can be up to 12,000 year (14,500 if over 50) and there are many investment options. Generally employers only match the first 3%, but being able to defer that much of your salary and avoid taxes is a much bigger win down the road.

Just one possibility that crossed my mind.

If your employer offers a retirement plan (401k or 403b or other), you get no income tax deduction for an IRA with income greater than $70k single or $116k married.

If your employer does not offer a retirement plan (401k or 403b or other), you get a deduction equal to your contribution up to the max if single or up to the max if married with a household income less than $191k.

[fightingsioux4life]

I have Roth IRA from what I've been told is tax exempt.

Same here. It is independent of any job I might hold, so I control it myself.

[fightingsioux4life]

Yeah, many Canadian fans are ridiculous, almost as bad as goofer fans

Agreed on the road ahead, its going to be nasty!

I think Team USA has an advantage in not getting much media coverage back home. All they have to think about is playing hockey and enjoying the experience. Team Canada has to deal with the overwhelming expectations of a bunch of self-appointed internet hockey experts who think they know everything and who aren't bashful about savaging a 17 year old kid who made a bad pass out of the defensive zone or something similarly tragic.

I think we all need to remember that these are high school aged kids playing a game, not highly paid NHL veterans. That being said, I am hungry for another medal (hopefully one made of gold). Go Team USA!!!

[yzerman19]

I think Team USA has an advantage in not getting much media coverage back home. All they have to think about is playing hockey and enjoying the experience. Team Canada has to deal with the overwhelming expectations of a bunch of self-appointed internet hockey experts who think they know everything and who aren't bashful about savaging a 17 year old kid who made a bad pass out of the defensive zone or something similarly tragic.

I think we all need to remember that these are high school aged kids playing a game, not highly paid NHL veterans. That being said, I am hungry for another medal (hopefully one made of gold). Go Team USA!!!

Agree the expectations on the Canadian team is ridiculous. Have to call out that the tournament is almost entirely 19 year olds and 18 year olds, so a little older than high school, but your point is taken.

I have Canadian relatives who spend the whole holiday season glued to the TV. I enjoy it very much too, but it isn't religion here.

[yzerman19]

Same here. It is independent of any job I might hold, so I control it myself.

I do not do a Roth (although it is a smart move for most) due to a belief that my income is substantially higher now than it will be when I retire, therefore I would rather take the tax advantage today than in 25 years.

I would consider a Roth as a rollover if I were rolling over a small 401k- with a small tax liability.

Tax code is perverted.

[scpa0305]

I think Team USA has an advantage in not getting much media coverage back home. All they have to think about is playing hockey and enjoying the experience. Team Canada has to deal with the overwhelming expectations of a bunch of self-appointed internet hockey experts who think they know everything and who aren't bashful about savaging a 17 year old kid who made a bad pass out of the defensive zone or something similarly tragic.

I think we all need to remember that these are high school aged kids playing a game, not highly paid NHL veterans. That being said, I am hungry for another medal (hopefully one made of gold). Go Team USA!!!

Well there are some NHL players in the tourney but you poi t is taken. hopefully we bury some early tomorrow AM and get lucky against Sweden. I want a second crack at the Canadians.

[fightingsioux4life]

Well there are some NHL players in the tourney but you poi t is taken. hopefully we bury some early tomorrow AM and get lucky against Sweden. I want a second crack at the Canadians.

I didn't think the NHL let their U-20 players leave their teams for this tournament; minus a lockout year.

[Wilbur]

Cannot let Russia hang around.....absolutely cannot. Sweden learned this earlier in the week. Had chances to go up three or four goals, but didn't bury chances and low and behold Russia was a tremendous deflection away from sending that one to OT where anything could have happened.

Finish every check and get the puck deep and work on their soft defensemen. Have to make life miserable for Russia's goalie, or he'll get another player of the game award.

[Frozen4sioux]

I didn't think the NHL let their U-20 players leave their teams for this tournament; minus a lockout year.

I'm not sure what you mean as just off the top of my head these are players with NHL experience as SCPA0305 stated...some have been returned to their junior teams, some are AHL, some are up and down and at least one Dumba was loaned from an NHL team.

Gregorinko -Russia

Zadorov - Russia

Dumba - Canada

Matteau - USA

Forsberg - Sweden

Lindholm - Sweden

[Redneksioux]

I'm not sure what you mean as just off the top of my head these are players with NHL experience as SCPA0305 stated...some have been returned to their junior teams, some are AHL, some are up and down and at least one Dumba was loaned from an NHL team.

Gregorinko -Russia

Zadorov - Russia

Dumba - Canada

Matteau - USA

Forsberg - Sweden

Lindholm - Sweden

I think it's up to the individual team. Nashville wouldn't allow Seth jones to go.

[scpa0305]

I'm not sure what you mean as just off the top of my head these are players with NHL experience as SCPA0305 stated...some have been returned to their junior teams, some are AHL, some are up and down and at least one Dumba was loaned from an NHL team.

Gregorinko -Russia

Zadorov - Russia

Dumba - Canada

Matteau - USA

Forsberg - Sweden

Lindholm - Sweden

Yup, Carrick (USA) Laughton (CAN)

[Wilbur]

How does Russia get away with two checking from behind penalties in one shift? The one on Barber was dangerous because he stopped playing because the whistle had blown.

Now the U.S. will get a ticky tack penalty for something borderline.