One year away from cashing in my Roth IRA - taking questions

Strippers and blow.

How did you amass $800k in only 20 years? That seems pretty impressive to me, or is that standard?

Not sure what you're saying. Or asking. Do you need advice? Are you looking to give advice to younger investors?

I've been managing my money since about '97 as well when my buddy was fired from his investment bank job. Always wanted to but was too loyal to him. Dumb.

Why cash it in? Do you need it to live? Why all of it? If you are nervous about the stock market then reduce your exposure.

Good for you! wrote:

Why cash it in? Do you need it to live? Why all of it? If you are nervous about the stock market then reduce your exposure.

I'm a little nervous about the stock market. I plan on spending it on travel, food and winen. I do NOT plan on helping my loser kids who could barely rub two pennies together. Millenial brats thing i owe them!

Isn't there a yearly limit for a Roth IRA? About $6,000? If so, you put in $120,000, so you must have chosen a high paying fund.

Don B. wrote:

Isn't there a yearly limit for a Roth IRA? About $6,000? If so, you put in $120,000, so you must have chosen a high paying fund.

My fund has a normalized APY over the last 20 years of 13%

Regretful wrote:

Good for you! wrote:

Why cash it in? Do you need it to live? Why all of it? If you are nervous about the stock market then reduce your exposure.

I'm a little nervous about the stock market. I plan on spending it on travel, food and winen. I do NOT plan on helping my loser kids who could barely rub two pennies together. Millenial brats thing i owe them!

I got you on the kids thing. If you cash it what return will you get moving forward?

Regretful wrote:

Started contributing in '97 (when I still had hair lol) - can't believe that was almost 20 years ago. Anyway, I have over 800k in the Roth now and will be cashing it in next year. Hope the market doesn't tank. I'm 60 now. Taking questions and advice.

Apparent troll. Roth IRAs were not available until 1998. The contribution limit at that time was $2,000. It would be difficult to compound at that funding level as posted. Person could have converted existing IRA contributions as a taxable event at certain tax brackets.

Igy

Maximum deposits to date would be about 87,000.

https://en.wikipedia.org/wiki/Roth_IRA

I call troll. Given contribution limits and your stated average return, the math doesn't work.

Average annual return of S&P 500 for the period in question 6% with reinvested dividends 7%+. I would assume the index would be one of the best performing asset classes for the period in question.

Igy

Regretful wrote:

I do NOT plan on helping my loser kids who could barely rub two pennies together. Millenial brats thing i owe them!

And this certainly does not sound like a 60yo typing... Good try...

Likely written by a Millenial Troll with his head up his @$$.

Regretful wrote:

Good for you! wrote:

Why cash it in? Do you need it to live? Why all of it? If you are nervous about the stock market then reduce your exposure.

I'm a little nervous about the stock market. I plan on spending it on travel, food and winen. I do NOT plan on helping my loser kids who could barely rub two pennies together. Millenial brats thing i owe them!

Well this answers your previous question about why your kids didn't turn out that well.

They could probably sense your contempt.

Regretful wrote:

I plan on spending it on travel, food and winen.

Was that last word supposed to be wine or women?

2/10

Ghost of Igloi wrote:

Regretful wrote:

Started contributing in '97 (when I still had hair lol) - can't believe that was almost 20 years ago. Anyway, I have over 800k in the Roth now and will be cashing it in next year. Hope the market doesn't tank. I'm 60 now. Taking questions and advice.

Apparent troll. Roth IRAs were not available until 1998. The contribution limit at that time was $2,000. It would be difficult to compound at that funding level as posted. Person could have converted existing IRA contributions as a taxable event at certain tax brackets.

Igy

Your lack of financial understanding is only exceeded by your bigotry. Please take your racist hate elsewhere. It's not wanted here.

Could have had employer match + profit sharing.

Could be in biotech.

Just sayin'.