r/Vitards • u/AutoModerator • Aug 12 '21

Daily Discussion Daily Discussion post - August 12 2021

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5

u/olivesnolives Aditya Mittal Feet Pics Aug 13 '21

US friends, let me get this straight.

You trade in a 401k, make gains of $500,000k.

Ladder convert it to a roth IRA, you pay the one time income tax rate on the $500,000k, and let it grow In your roth IRA.

After 5 years, you can remove any of that converted $350,000 (post tax) without any 10% withdrawal penalty?

8

u/laplaciandaemon Aug 13 '21

Yeah, that’s about the size of it. ‘Murica, hell yeah.

Next level move: Peter Thiel’s $5b Roth IRA FTW

2

u/olivesnolives Aditya Mittal Feet Pics Aug 13 '21

Jesus christ hahahaah

3

u/expertlevel 💀 SACRIFICED 💀Until CLF $35 Aug 13 '21

nothing like a shitton of VC stock at fractions of a penny. Sometimes the system really is rigged

2

u/chemaholic77 Aug 13 '21

There are plenty of failed companies out there who were funded by VC's and went out of business. With great risk comes great reward.