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Thoughts with Biff and Balls

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  • Reinvest it, if my math skills are correct, that will be like a lot of money in 30 more years.

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    • Originally posted by Stan
      Reinvest it, if my math skills are correct, that will be like a lot of money in 30 more years.
      Well Stan, I won’t be here in 30 more years

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      • Originally posted by Biff View Post
        Can I just cash that thing in? It’s a traditional IRA. Do I pay taxes on that?
        You'll have to pay taxes and an early withdrawal fee. But it's "found money," so what the hey.

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        • Originally posted by Biff View Post

          Well Stan, I won’t be here in 30 more years
          Sure you will, that’s money for the retirement home.

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          • Originally posted by Hannibal Lecter MD

            You'll have to pay taxes and an early withdrawal fee.
            Life’s just not fair. With a woman, If I don’t withdraw early, it’s a lifetime of hell.

            With the govt, if I do withdraw early I get screwed.

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            • Originally posted by Stan View Post
              Reinvest it, if my math skills are correct, that will be like a lot of money in 30 more years.
              If he continued at 13% return, a little over $300k.

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              • Originally posted by Biff View Post

                Life’s just not fair. With a woman, If I don’t withdraw early, it’s a lifetime of hell.

                With the govt, if I do withdraw early I get screwed.

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                • Originally posted by Hannibal Lecter MD

                  If he continued at 13% return, a little over $300k.
                  You serious Clark?

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                  • I’ll wait and see what rhino says. I trust his judgement

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                    • Originally posted by Biff View Post

                      You serious Clark?
                      1.13^30 x 8000

                      Using the simple-70 rule, an investment with a 13% return will double about every 5 1/2 years. You're not likely to average 13% for the next 30 years though. At 8%, you'd have $80k.

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                      • Originally posted by Hannibal Lecter MD View Post

                        If he continued at 13% return, a little over $300k.
                        So, my math checks out. Thanks hanni

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                        • Originally posted by Biff View Post
                          I think I’m better off getting the money and buying 2 rolls of $25 scratch offs. I bet I could win $10K

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                          • 10% early withdrawal penalty and then regular income tax. Or you could wait until you're 59 1/2 and not pay the penalty.

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                            • Why do people call their kids mini-me? One of my FB friends do this, and the kid looks nothing like her. Why am I annoyed by these type things?

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                              • Originally posted by Stan View Post
                                Why do people call their kids mini-me? One of my FB friends do this, and the kid looks nothing like her. Why am I annoyed by these type things?
                                Oh no. That one gets me too. I don't mind it if they really do look a lot a like, but I think mom's want really badly for their kids to look like them. My oldest looks a lot like me and acts like me, even when he was really little. People would say oh look he's a little clone of his dad, it would bother my wife to no end.

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