She can borrow the 401k money without paying the tax penalty.
If she’s still employed.
I’ve made a living playing online poker for awhile. This year I’m thinking about starting a SEP-IRA which allows me to contribute 25% of my taxable income. The thing is, I’m planning to to start the process towards becoming a Mexican dual-citizen and will probably start paying taxes in Mexico in a year or 2. Would I still be able to contribute to my SEP-IRA based on taxes paid in Mexico? If not, is there a retirement planning option suitable to Americans living and paying taxes abroad?
Or even just be responsible for what the company you partly own does.
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You need an accountant.
Fuck today gonna be ugly
In The Netherlands the stock market flatlined on Friday. Markets were already closed before Trump started blowing air in the market. And today the market is down 7.5%. So brace for impact for what’s probably going to be the worst day ever 
Yeah who knows, but right now a level 2 or maybe even level 3 halt seem to be in play.
Yeah I am the world’s foremost authority and think the 13% breaker is likely. Who knows about the 20
Closes for the day at -20%, right? We could be done by 10:30.
I think we are drawing live to a huge % of current corporations going bankrupt without a government bailout. Now I have no doubt a bailout is coming at some point. The only question I have is how large of a bailout would you need? Probably larger than what is possible without having some other severe consequences right?
how you gonna pay for that?
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There will be bailouts. The single issue with legitimate, widespread, bipartisan congressional agreement is corporate socialism.
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I guess the point I was tiptoeing around is that the actual value of current corporations must, in total, be pretty close to zero assuming this environment lasts for the rest of this year which seems likely. Many corporations will not be able to service debt for very long in this environment. I know companies like Berkshire and Amazon will be fine but the vast vast majority will not be. The real value of something like the Dow is a lot closer to 0 than 23,000.
The only question is whether or not the government is even capable of a bailout that is large enough to matter? I mean obviously I’m against corporate bailouts but I also don’t think anything like this has ever happened. You may need 10T+ to prop the economy up. What are they going to do just print money?
Side note:My parents are Trumpers who are 65. They have way more than enough money for the rest of their lives. But 90% of it is in the market. I asked my mom yesterday why they didn’t take enough out to at least live on for the rest of their lives. She told me stocks were a safe investment. That one of her friends told her a boom was around the corner. When I explained to her that we have just had an unprecedented boom and that stocks were the riskiest asset class she scoffed at me.
First time in my life I’m watching CNBC at the market open
They’re not going to let half the public companies in America go bankrupt. They just aren’t. Even if Congress doesn’t approve it (they will) the Fed will just make trillions in low/no interest loans.
ETFs indicating -11% at the open.
And to prove it, I apparently thought the market opens a half hour earlier than it actually does lol
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Jesus Christ Jim Cramer is insufferable
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Gold down another $69, nice
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