Comments on: My 3-minute video response: What you can do about today’s economy http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sun, 12 Feb 2012 18:46:58 +0000 hourly 1 http://wordpress.org/?v= By: Jody http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-124569 Jody Sat, 22 May 2010 22:05:23 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-124569 You're a cutie! I was watching OPB a few months back and saw you on a finance program for teenagers. I was intrigued by your book (despite being in my 30's), and read it. I've decided to take the extra $100 that I was putting towards my mortgage premium (I bought my first house last year) and invest it. I put it into an index fund, but don't I have to pay taxes on the earnings when I withdraw it? I had some money in an ING Direct savings account last year and when I put the interest earned amount into my tax return, nearly all of it was added towards the tax amount I owed. I am already putting 12% pretax into my traditional IRA and maxing out my ROTH IRA, and want to earn more than the measly 1% that savings accounts are yielding right now for my emergency fund. Is a non-taxable investment account something that exists? You’re a cutie!

I was watching OPB a few months back and saw you on a finance program for teenagers. I was intrigued by your book (despite being in my 30′s), and read it.

I’ve decided to take the extra $100 that I was putting towards my mortgage premium (I bought my first house last year) and invest it. I put it into an index fund, but don’t I have to pay taxes on the earnings when I withdraw it? I had some money in an ING Direct savings account last year and when I put the interest earned amount into my tax return, nearly all of it was added towards the tax amount I owed. I am already putting 12% pretax into my traditional IRA and maxing out my ROTH IRA, and want to earn more than the measly 1% that savings accounts are yielding right now for my emergency fund. Is a non-taxable investment account something that exists?

]]> By: Tariq http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-124411 Tariq Fri, 21 May 2010 03:18:53 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-124411 Thanks for the valuable information! I definitely like the video format, feels more interactive. I like your comment on stop asking dumb questions...people tend to focus on the complexities instead of sticking to the basics. Thanks for the valuable information! I definitely like the video format, feels more interactive. I like your comment on stop asking dumb questions…people tend to focus on the complexities instead of sticking to the basics.

]]> By: Tyler http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-103119 Tyler Sat, 11 Jul 2009 19:00:14 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-103119 Hey, I love what you do and how you focus on picking the low hanging fruit of personal finance. Nothing to do with how you look or the quality of production but I tend to skip over the video in favor of text. Hey, I love what you do and how you focus on picking the low hanging fruit of personal finance. Nothing to do with how you look or the quality of production but I tend to skip over the video in favor of text.

]]> By: Ken http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-103027 Ken Fri, 10 Jul 2009 11:33:11 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-103027 Awesome video, I do have a question that would impact myself (as well as possibly others on your site). The market is low now, we all know that but my question is this. While the market is low, is it really a good time for me to start throwing everything I can afford to into it? Thanks a lot, I've been a reader for quite sometime now but sadly very slow at actually taking action. Awesome video, I do have a question that would impact myself (as well as possibly others on your site). The market is low now, we all know that but my question is this. While the market is low, is it really a good time for me to start throwing everything I can afford to into it?

Thanks a lot, I’ve been a reader for quite sometime now but sadly very slow at actually taking action.

]]> By: Kristi http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-103007 Kristi Fri, 10 Jul 2009 02:19:40 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-103007 Ramit, Great first effort (love the tranquil background BTW). You are so right about macro vs micro issues. The questions will drive you batty, and when you ask people "how much did you put in your 401k last pay period?" they will continue to rant about this macro stuff. Just keep increasing your savings by a percent or two, and put aside your raises. Make some extra money, and put it aside. Old formulas that work. Ramit,

Great first effort (love the tranquil background BTW). You are so right about macro vs micro issues. The questions will drive you batty, and when you ask people “how much did you put in your 401k last pay period?” they will continue to rant about this macro stuff.

Just keep increasing your savings by a percent or two, and put aside your raises. Make some extra money, and put it aside. Old formulas that work.

]]> By: Manisha Thakor http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-102999 Manisha Thakor Fri, 10 Jul 2009 00:22:33 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-102999 It's such a delight to watch this nearly 10 months after its original airing. Your comments were spot on back in September 2008 - and as relevant as ever today. My favorite line: "Most people don't have enough money because they didn't save enough - not because they lost it all in the stock market." This is so true - even with the bear market we've just gone through (and perhaps are still in). Your advice to focus on what we can know and control and ignore the rest is sage counsel indeed. Way to go Ramit! It’s such a delight to watch this nearly 10 months after its original airing. Your comments were spot on back in September 2008 – and as relevant as ever today. My favorite line:

“Most people don’t have enough money because they didn’t save enough – not because they lost it all in the stock market.”

This is so true – even with the bear market we’ve just gone through (and perhaps are still in). Your advice to focus on what we can know and control and ignore the rest is sage counsel indeed. Way to go Ramit!

]]> By: Sandeep http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-102996 Sandeep Thu, 09 Jul 2009 22:29:56 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-102996 Great video....short and accurate...Please keep the videos coming. Rock on... Great video….short and accurate…Please keep the videos coming. Rock on…

]]> By: Keely http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-102994 Keely Thu, 09 Jul 2009 21:26:04 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-102994 I loved this video -- you get straight to the point with what to do, no extra explanation of the many factors that go into today's economic situation that doesn't really apply to the average individual's personal finance. Keep 'em coming! I loved this video — you get straight to the point with what to do, no extra explanation of the many factors that go into today’s economic situation that doesn’t really apply to the average individual’s personal finance. Keep ‘em coming!

]]> By: Josh Friedlander http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-102982 Josh Friedlander Thu, 09 Jul 2009 19:13:51 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-102982 Most macroeconomic questions are dumb, agreed (though I question the wisdom of calling readers dumb!), but not all of them are immaterial. People in low tax brackets who expect to later be in higher brackets in retirement should clearly preference Roth IRAs to standard IRAs, and similarly there is a value judgment to be made about whether a 401k makes sense (even with the compounding) if you can only choose a lousy overpriced plan (as most of them are) AND believe your tax rate will increase in retirement. The last question requires a value judgment on whether the USGovt can possibly begin to meet its obligations and still keep taxes low. Doubtful. Most macroeconomic questions are dumb, agreed (though I question the wisdom of calling readers dumb!), but not all of them are immaterial. People in low tax brackets who expect to later be in higher brackets in retirement should clearly preference Roth IRAs to standard IRAs, and similarly there is a value judgment to be made about whether a 401k makes sense (even with the compounding) if you can only choose a lousy overpriced plan (as most of them are) AND believe your tax rate will increase in retirement. The last question requires a value judgment on whether the USGovt can possibly begin to meet its obligations and still keep taxes low. Doubtful.

]]> By: Opie http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy/#comment-102971 Opie Thu, 09 Jul 2009 16:52:27 +0000 http://www.iwillteachyoutoberich.com/blog/my-3-minute-video-response-what-you-can-do-about-todays-economy#comment-102971 I have my ROTH IRA in a target-date retirement fund (Fidelity Freedom Fund) because I'm not an expert and didn't want to have to manage it much! Are these a good idea? I have my ROTH IRA in a target-date retirement fund (Fidelity Freedom Fund) because I’m not an expert and didn’t want to have to manage it much! Are these a good idea?

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