Robinhood, Amazon, Apple

[linksys23]

On 7/6/2020 at 11:52 AM, InSearch said:

2-3 years back yevaro friend chepthe robinhood lo sign up chesi oka $800 vesaa... yevevo stocks koni, ammi final ga $1150 petti amazon stock konna..

konnalla tarwata dabbbulu acasaram undi amazon ammesaa at $1300.

Ippudu after 2 years, amazon stock price chooste 3600 undi.. shock ayina.. unchunte profit vastunde kada ani..

aa process lo costco, apple stocks kooda ammina, anni ippudu choosthe masth profits kanipistunnay nenu ammina price tho poliste

ippdatike meeku artham ayyintundi nenem expert ni kaadu ee field lo ani ... 

1) naa lanti yemi teliyani vaadu oka $10000 ni Amazon, Costco, Apple, Walmart ilaantivaati lo distribute chesi oka 3 years vadileyyatam good choice?

2) ledante noru moosukuni 401K contribution penchukovatam better aa? (right now my fidelity account earning 7% growth annually)

Disclaimer:

Single salary, not much savings, pay check to paycheck living, 401k only started 3 years ago after joining FT, yedaina market crash ayyi oka $10000 loss ante tattukogalanu, anthakuminchi ante kastame

Salahaalu, soochanalu ivvagalaru.. critics also welcome..

U said Single earning so

1) Do saving not investing in shares

2) put money in 401k--TATS gud

3)checking a/c lo unchuko....parents ki money pampu---ask them to buy gold,land

Teliyani subject lo $$ waste cheyaduuu

[linksys23]

LTT

[linksys23]

On 7/7/2020 at 6:09 PM, InSearch said:

@Spartan bhayya.. naa effective FED tax rate is 6.1% and state is 5.5%; so in total, I pay less than 12% taxes. 

I also plan to settle down in India in a year or two and want to withdraw money from 401k (I am aware of the fact that I need to pay 10% penalty and since I wouldn't have any income in say 2022, 2023 in USA, I plan to withdraw say 20k in 2022 and 20k 2023 so that I could avoid paying taxes on it). Please confirm if my assumptions are reasonable?

So is it still worth contributing to 401k given that I only save 12% on taxes and that I would need to pay 10% penalty in the near future?

 

I also plan to settle down in India in a year or two and want to withdraw money from 401k (I am aware of the fact that I need to pay 10% penalty and since I wouldn't have any income in say 2022, 2023 in USA, I plan to withdraw say 20k in 2022 and 20k 2023 so that I could avoid paying taxes on it--

 

iS IT tRUE ??? IF I DONT HAVE INCOME IN USA-i dont have to pay penalty for 401k ??

please tell

[InSearch]

20 hours ago, linksys23 said:

I also plan to settle down in India in a year or two and want to withdraw money from 401k (I am aware of the fact that I need to pay 10% penalty and since I wouldn't have any income in say 2022, 2023 in USA, I plan to withdraw say 20k in 2022 and 20k 2023 so that I could avoid paying taxes on it--

 

iS IT tRUE ??? IF I DONT HAVE INCOME IN USA-i dont have to pay penalty for 401k ??

please tell

You pay 10% flat penalty regardless. What would help you in 2022 and 2023 is your total income will become 20k and you don't pay any income tax.

Hope this helps and DM me if you need more details.