Trying to understand Roth IRA's a bit more:
Let's say I retire at 65 and have $1,000,000 in my IRA at this point, with 7% average interest.
Does this mean that now I'm 65, I can take out my 7% of interest every year and use it as my income? i.e, I'd be making $70k a year doing nothing
Or is there some limit on how much I can take out and shit, or do I misunderstand completely?
>>1022780
From what I understand, with a Roth ira, the money has already been taxed so you are free to withdraw any amount of it you want after you turn 60 as long as it has been open for more than 5 years. So basically, after 60 it turns into a million dollar checking account.
>>1022780
>Let's say I retire at 65 and have $1,000,000 in my IRA at this point, with 7% average interest
First, at age 65 you aren't going to be earning 7% unless you're incredibly reckless. At that age with that amount of savings, you can't afford a 30-40% year-over-year decline, which is possible with stocks. So you're going to be primarily in bonds and treasuries and earning closer to 5%.
Second, at age 65 you potentially have a lot of years to cover, and you obviously don't want to run out of money if you live a long life. Nothing's more said that a broke old person. While the average life expectancy is lower, most prudent people plan to make their money last until 88, 92 or even longer to be on the safe side. That's a lot of years to cover, especially as your medical costs rise.
Third, during that time, you need your account to last even if you hit a string of bad investment years. While most bear markets are short, any extended downturn can really strain your ability to keep drawing funds. So you'll never be able to draw even your average earning rate because the timing could screw you royally.
All of this factors into what we call the "safe withdrawal rate" which is the amount that you can take out and still be strongly confident (99% certain) that your money will last through your entire retirement.
The most current research puts the safe withdrawal rate at about 3%. While some older, popular studies suggested 4%, the markets have gotten a little more volatile and 3% is the safer estimate today.
So if you save $1MM by retirement, you can safely, confidently expect to draw $30,000/year in retirement, increasing the amount each year by the inflation rate. Add to that any social security benefits you might have earned, and that's a good estimate of what your life will look like in retirement.
What fields can I get into with a degree in chemistry (M. Sc.) that aren't related to chemistry? So really I'm looking for positions or fields in general that require you to prove you are intelligent but don't require a hard set of specific skills. I do have some general purpose programming skills though.
I was thinking consulting maybe quantitative analysis, but I'd like to hear people opinions
>>1022648
Data Science. Depending on how much stats/modeling knowledge you absorbed.
Otherwise some consulting firm will probably take you provided you have 'good communication skills' i.e. you can bullshit on your feet.
>>1022648
sounds like Investmentbanking to me
>>1022703
>you have 'good communication skills' i.e. you can bullshit on your feet.
yeah I can do that.
>>1022704
>sounds like Investmentbanking to me
now that's something I haven't thought about. I do have some knowledge about investing but I wonder how investment bankers will respond if I tell them I only buy indices because what they do is a scam.
Has anyone ever moved for work? How was your experience?
Are employers generally reluctant to hire people who require relocation?
>>1022572
It depends on the employer and the job.
I got a job as an ETL software engineer in CA while I was living in VA and they gave me a 10k relocation budget.
They send an 8 page or so guide on where to look for living arrangements and stuff. Nowadays they have deals with a local apartment complex to house people temporarily while they look for a permanent lease.
Smaller companies may not be able to provide this sort of assistance but in general for a real job it's expected.
>>1022572
Every single job since I got out of college. I moved 1,100 miles to take my first real job after college. Then 1,100 miles back when I found a job closer to home. Then 60 miles when I got a better job.
Any job that you would consider part of an actual career, employers are used to new hires needing to move to start work. Not all companies will pay for moving expenses, but the ones where there is serious competition for quality employees will.
>>1022572
Haven't moved for work personnaly, but "accompagnied" (mostly tax and legal questions) 2 close friends who did and got very... different outcomes.
The two persones were already employed by the company who needed their skills somewhere else. In both cases, they got relocated from an geographical european country to another.
First one (salesman, ink solutions, huge company) got fucked in the ass because, in an pretty ironic way, he didn't negotiate well. Had to find a new place on his own, no relocation budget and got a payrise that never covered the fact that his wife had to stop working.
The second one (managment / trader in a private bank), on the other hand, got a fucking golden bridge; appartment, car(s), payrise through the sky and "relocation fees budget" almost just as high for up to five years, given he got to say if he wanted to stay there or come back, once the mission over.
In both case, I would recommend you get advice from people being where you WILL work in order to have an idea of what your real needs will be. That will help you negotiate/know when you're being fucked in the ass with sand.
Furthermore, as said above, the quality of your relocation will mainly depend on the company policy and/or how much they value you.
do social enteprises have any place on /biz/ ? discuss
I guess not
>>1022528
whats a social entreprise
is it one of those things where you put social in front of it and it becomes the opposite of what it meant like social justice?
>>1022779
https://www.gov.uk/set-up-a-social-enterprise
Hey boys, I usually don't come here, but I'm looking for advice. My dad is a sterling silver jewelry dealer and he tries to get me to sell his stuff online from time to time since he's accumulated so much backup product over the decades.
He's really pushing for me to get into ebay as a way of turning a profit, but the site seems so clunky and dated.
Are there any other ways you guys might suggest making money by selling jewelry over the internet, or is ebay still the end all?
>>1022265
Etsy if its all individual pieces.
>>1022282
This guys knows. Etsy only.
Stay the fuck away from eBay if the items are nice, high quality pieces.
Ebay/Paypal takes ~14% of your sales.
Etsy takes ~4%
You will also find that Etsy has less scammers.
>>1022282
Is that really better than ebay?
Sup /biz/
/fit/bro here and i am looking for some advice.
This year i have decided to save some money and i am thinking of putting it in mutual funds [medium/high risk] since i have zero experience in investing and it looks like bank deposits have extra low return in my europoor country.
Is this a good idea? I dont have all day to study the market but i want a good way to save up money for a car [1-2 years ahead]
Thanks /biz/bros :]
Why the fuck do we not have a sticky?
Fuckkkkkk
>>1021870
Investing is for 3-5 years minimum, if you want to save for 1-2 years put it in a Tax free saving account (ISA if you're on the UK) or 1 or 2 year fixed term bonds if you do not need to access the money ever.
>>1021989
I've given you the advice, don't like what you see? Tough, investing is not for 1-2 year plans.
I sell cars. At very least I make $2000 a month, that's if don't sell anything at all. I can make up to $14k in one month but thats very uncommon. Since the income is rather unreliable, what the best way to make sure I'll have $40k by July. I'm looking for away to make extra money because the car business is a little unpredictable. So what should I do?
>>1021577
Can I sell car too?
>>1021577
Need additional info, OP:
How long -in months- have you been selling cars?
What is the realistic "average" of your monthly gross income over 12 or 24 months?
What is your gross monthly "cost of living" average --by month-- for last 12 or 24 months?
I have similar situation as you and have survived income volatility with a little formula.
Pic related. My first car.
>>1021577
Use mint.com and track your fucking input and output this year. Find what your average is
EBAY GENERAL THREAD - BUY HIGH SELL LOW EDITION
Reminder that USPS rates are going up 01/17/16!
http://multichannelmerchant.com/news/shipping-prices-set-rise-ups-usps-battle-filings-23122015/
Reminder that UPS rates rise today 12/28/15!
>>1015416
Forgot the link to the UPS article
http://multichannelmerchant.com/news/ups-announces-2016-general-rate-increase-of-4-9-to-5-2-16102015/
>Have 6 USPS First Class packages with zero tracking updates ranging from 9-14 days ago.
WHAT THE FUCK?!
>>1015628
It's the holidays.
Get ahead of the ball. Message your buyers now and say that it's been in the mail and USPS is experiencing holiday delays and that you're sorry
- Anyone here have a successful and durable experience in forex trading ?
- What's techniques did you use ?
- With how much money did you begin ?
- Gives me advice for a beginner like me, please.
I am really sad when i read specialized forums in forex, why?
Because all the trading journal I read ends the same way :
They end up losing all their gains and have their account to 0 dollars, after 6 months or 1 year.
I need testimonials from people who really live forex successfully since several years.
http://forums.babypips.com/newbie-island/70214-truth-about-forex-you-cant-become-rich.html
>>1014735
>Anyone here have a successful and durable experience in forex trading ?
lol
There's literally no such thing. Go on babypips then ask for proof of a successful forex trader. Watch when all the brainwashed retards do their mental gymnastics to justify why you don't need proof for something to work.
The only way to become successful day trader is to start with a lot of money. Even then these successful day traders are all cloaked in secrecy and often disapere of the face of the net when people start asking questions.
3% return on £10,000 barely beats inflation. Most of the 'good' forex accounts have an average of like 5% return per annum, yes they may have a month of 10%, 50% or even 200% but as you stated after their gamble and big win, the next year their returns start averaging out in the single percentile points positive or negative.
For the net profits you get forex daytrading on a shoestring budget, you may as well work at McDonalds.
That's the truth, take it or leave it is the truth.
>>1014747
> There's literally no such thing
There is, but these people are quite rare. Being a successful trader is much harder than a successful doctor or engineer. But once you get into that level, you will stop shitposting on 4chan.
Link related.
http://www.myfxbook.com/members/FXViperTrading/fx-viper-mamm-ic-markets/960020
>>1014747
https://twitter.com/cissan_9984
Sup brah
>trying to find the most employable college/university qualification
>not realizing the economy is shit and the jobs just aren't there
2016 goy
>>1032731
yeah killing yourself is the best option, I totally support that
>5% unemployment rate in the US
>"Jobs aren't there"
>Everyone I know who majored in stem had nice internships and a good job upon graduation
>"Economy is shit"
I think the problem is with you being a lazy sack of shit that keeps blaming external factors rather than the economy.
Hi /biz/; just wanted to share my sorrow
I'm a double major in physics and finance from a big east coast school that just graduated. I've literally applied to 427 jobs (in drug companies, tech companies, finance firms, et) since I was a Junior in uni until now (graduated this month). Everyone says either they chose someone else and they aren't interested or they never got back to me.
It's not your major that matters. I was the top of my class. I juggled many odd jobs to help my guardian. I tutored so many students while in my studies. None of that mattered, and none of the alumni responds to me for coffee or phone calls to talk about what they do
The moral of the story is who you know matters; not your major. I'm not saying to major in something like art; but I've seen way too many irrelevant majors like biology getting into companies like Microsoft and History getting into analyst roles at top financial places.
The only reason I haven't drowned myself is because I have hope that someone will say, "hey, let me conduct an interview with you"
No I haven't even had an interview. No one gives me chance. Let this be your warning to an anon who is suffering now. If someone is successful and you know them, stick by them and bug them for a job. I never had that opportunity to do so like the rest
>>1032723
>/adv/
>/r9k/
>/b/
>/killed five people before turning the gun on himself/
now get out
Sucks dude.
I know Nepotism is the only thing getting jobs out there and it's shit.
We were all sold a lie. The economy is shit and the jobs are simply not there, whilst the corrupt as fuck politicians try to outsource STEM jobs like yours to fucking inferior shit skins.
Revolution, when?
>>1032727
>Nepotism is the only thing getting jobs out there and it's shit
Nothing unethical about hiring a friend. If you know you get along with them and that they are capable of performing required tasks then you have no right complain.They are the same as you, just safer as they are certain to get along with the company culture.
For my 21st birthday my Uncle opened a bank acounnt in my name with $500 on a mutual fund investment (tax-free).
Im really noob at investment, but at least I have $500 to play with. Do people just leave money on the mutual savings or is there some tricks I have to learn?
Like I said, he literally just gave it to me to get my feet wet.
For reference this is the name of portfolio: https://www.tdassetmanagement.com/fundDetails.form?fundId=6321&lang=en
Please help,
confused investor.
>>1032474
500$ can only bring something if you go into penny stocks, for everything else it is to miniscule.
>>1032488
I thought so.. So best I should leave it running here, and check back in maybe 5 years?
>>1032490
it is not a fund that will outperform, if your uncle put 500$ in it in 2015 you've got 6,50$ out of it.
you can use it in a compound interest manner and everything you earn and can spare you put into that fund. with time if we say ideally your fund will have 5% average yearly performance and you put 5000$ in it every year, you will have 29 000$ in 5 years.
Ok /biz/ I was wondering if you can give me ideas on how to raise/earn some money
What am I trying to do? I've always wanted to own and drive a truck, and every time I see one I wish I could afford one, even if its a used one
But no more fucking wishing, I want to get that fucking truck and chase that dream, and hopefully achieve it within a year. Sure I can save up money, but at my $15 an hour call center job that's would take years.
I need some ideas on how to raise $10,000, and the quicker the better. I figure that amount is enough to get me a used truck in decent condition.
Since I figured I might as well use my strengths to my advantage, I'll list what I have going for me right now, and see if I can somehow use those to make money
Strengths
>Programming. Know multiple programming languages, including C++ and Java. I am capable of creating programs and phone apps
>somewhat decent knowledge of computer security and hacking
Certifications/degrees
>associates in computer networking
>bachelors in Information systems
Fuck, for some reason phone didnt post the whole thing
Anyways, I don't have any student debts to worry about
>but anon, why arent you working as a systems administrator or doing some IT or programming job making a ton of money?
As for why I'm not working in my field, well I've applied for months on end and haven't gotten shit, not even a damn interview. It seems like its who you know rather on what you know, and I don't have any connections and neither does my family.
Either that or employers use a system tob g. filter through keywords when I upload my resume to the application and the system assigns it a value based on the keywords the program finds in order to determine the most worthy candidates. I have not really kept up with resume formatting, all I have is an up to date resume which was reviewed and deemed good when taking a resume building seminar.
Current funds:
Less than $500. I try to put 300 into savings every month.
Current ideas:
-make a blog. However this can take a year or more before I make any sort of income off it it, and even that's not garuntee
-YouTube videos which target some audience. Maybe create a game mod or something and make videos of it, then make money off advertising revenue
-Create a video game. Depends on the target audience. If its a phone app which appeals to the average person it might work, however this market is already hypercompetetive. I could try to create an indie game on steam or something, but I'm not sure how long it would take or how much I could possibly make. Also don't have any ideas for a game yet
-create a startup or something. No ideas though, also seems like a hyper competitive market with not much chance of success.
Maybe those ideas might be too big for just making $10,000, but that's all I can come up with right now
So with all that information, do you guys have any ideas on what I can do to make the $10,000 so I can afford a truck?
Buy smaller cars for good prices, sell for higher prices. rinse repeat.
>>1032460
This.
So a few weeks ago I put an ad in the newspaper for computer repair, I get a call, and legally install copies of windows 10 onto various laptops for a company and the total bill is around $2500 the client gives me a perfectly good check and I cashed it, everything went smooth and both parties are happy, but my only concern is do I need a business license to repair and maintenance computers? I thought you only needed one if you were selling taxable goods?
I live in Pennsylvania if that is of any consolation
I do not believe computer repair is a regulated industry.
Also there is not much to worry about. Looking around for a license and coming into compliance as you find one and are able to acquire it is acting in good faith.
You should start a company to limit your liability and maximize your deductions and writeoffs, and build your credit to eventually be able to get a loan for payroll and supplies etc...
>>1032372
Thanks! Actually helped a lot!
>>1032372
Li Sheng at again, always useful posts for biz.
Do companies really pay $2500 to have people install Windows?
Anyone have any experience with paid surveys that pay cash? Know any good ones?
I'm interested in ways of supplementing my income from home that don't require a lot of effort. I already make a decent enough living and have no interest in a second job. Is it possible to make $5-10/hr just mindlessly clicking away on some survey sites for a few hours each night or is it all bullshit?
>>1031885
You will make $2 an hour
im also interested in this
