Vijay Damerla

[Spectre @spectre0799]

family ties but the beat is Billie Jean & Beat It

[FBI @FBI]

Today, the FBI honors the life and work of Reverend Dr. Martin Luther King Jr. and reaffirms our commitment to fairness and equal justice for all. #MLKDay

[Mark Cecchini, CFP® @markcecchini]

COMMANDER: We’re fighting for freedom. And part of that freedom… is the freedom to retire with dignity. So we’re going to start accounts called 401(k)s.

SOLDIER 1: What’s a 401(k)?

COMMANDER: It’s a retirement account. You put money in, it grows tax-free, you take it out when you’re old.

SOLDIER 2: So I don’t pay taxes on it?

COMMANDER: Well, you pay taxes later. When you withdraw.

SOLDIER 2: So it’s not tax-free.

COMMANDER: It’s…tax-deferred.

SOLDIER 2: What’s the difference?

COMMANDER: You pay taxes later instead of now.

SOLDIER 1: What if I want to pay taxes now?

COMMANDER: Then you do a Roth 401(k).

SOLDIER 3: What’s a Roth?

COMMANDER: You pay taxes now, and it grows tax-free.

SOLDIER 2: That’s what I thought the first one was.

COMMANDER: No, the first one you pay taxes later.

SOLDIER 1: Which one’s better?

COMMANDER: Depends on your tax bracket in retirement.

SOLDIER 1: …How would I…know that?

COMMANDER: You don’t. You just guess.

⸻

SOLDIER 4: What if I don’t have a 401(k) through my employer?

COMMANDER: Then you open an IRA.

SOLDIER 4: What’s the difference?

COMMANDER: One’s through your job, one’s on your own.

SOLDIER 4: Can I have both?

COMMANDER: Yes.

SOLDIER 4: Should I?

COMMANDER: Maybe.

SOLDIER 3: Can I do a Roth IRA?

COMMANDER: Only if you make under a certain amount.

SOLDIER 3: What’s the limit?

COMMANDER: Changes every year.

SOLDIER 2: What if I make too much?

COMMANDER: Then you do a backdoor Roth by putting it in a Traditonal first.

SOLDIER 2: …Is that legal?

COMMANDER: Surprisingly, yes.

SOLDIER 1: What’s a backdoor Roth?

COMMANDER: You contribute to a traditional IRA, then convert it to a Roth…but watch out for “pro rata”.

SOLDIER 1: Why wouldn’t I just contribute to the Roth directly?

COMMANDER: Because you make too much money.

SOLDIER 1: But this way I can?

COMMANDER: Yes.

SOLDIER 1: That feels like a loophole.

COMMANDER: It is. But the IRS is cool with it.

⸻

SOLDIER 5: I just changed battalions. What do I do with my old 401(k)?

COMMANDER: You roll it over.

SOLDIER 5: Into what?

COMMANDER: An IRA. Or your new 401(k). Depends.

SOLDIER 5: On what?

COMMANDER: The funds. The fees. Whether your new plan accepts rollovers.

SOLDIER 5: What if I just take the money out?

COMMANDER: You’ll pay taxes plus a 10% penalty.

SOLDIER 5: What if I’m 59?

COMMANDER: Penalty.

SOLDIER 5: 59 and a half?

COMMANDER: No penalty.

SOLDIER 5: …The half matters?

COMMANDER: The half matters.

⸻

SOLDIER 3: What’s a mega backdoor Roth?

COMMANDER: Okay. So. Your 401(k) has a limit of how much you can contribute.

SOLDIER 3: Right.

COMMANDER: But the total limit including employer contributions is higher.

SOLDIER 3: Okay…

COMMANDER: So if your plan allows ~after-tax~ contributions, you can put in more, then convert that to Roth.

SOLDIER 3: Does my plan allow that?

COMMANDER: I don’t know. You have to ask Betsy.

SOLDIER 3: Will Betsy know?

COMMANDER: Probably not.

⸻

SOLDIER 2: Can I deduct my IRA contribution on my taxes?

COMMANDER: Are you covered by a retirement plan at work?

SOLDIER 2: Yes.

COMMANDER: Then only if you make under a certain amount per year.

SOLDIER 2: What’s the amount?

COMMANDER: Depends if you’re married.

SOLDIER 2: What if my wife has a plan but I don’t?

COMMANDER: Different limit.

SOLDIER 2: What if neither of us has a plan?

COMMANDER: Full deduction.

SOLDIER 2: So it’s better to not have a 401(k)?

COMMANDER: No…

⸻

SOLDIER 1: Can I just keep my money in a sock?

COMMANDER: You could. But inflation will slowly destroy it.

SOLDIER 1: What’s inflation?

COMMANDER: (sighs)…

[Vijay Damerla @_dyajiv]

@theneedledrop Little Simz lotus

[LeBron James @KingJames]

Racism is the only thing he's Fantastic 4(fantastic for), cause that's how he gets his rock off, he's orange. Sheesh @Eminem!! 🔥🔥✊🏾🔥🔥#United

[Zohran Kwame Mamdani @ZohranKMamdani]

In the words of Nelson Mandela: it always seems impossible until it’s done.

My friends, it is done. And you are the ones who did it.

I am honored to be your Democratic nominee for the Mayor of New York City.

[Siddharth @DearthOfSid]

Always a good message for Indian media.

[Rory McIlroy @McIlroyRory]

Dreams do come true.

[IGN @IGN]

If you were wondering why the oner fight scene in Daredevil: Born Again felt a *little* different, director Aaron Moorhead breaks it down:

[FBI @FBI]

Today, the #FBI honors the life and work of Reverend Dr. Martin Luther King Jr. We reaffirm our commitment to Dr. King’s legacy of fairness and equal justice for all. #MLKDay

[Jeff Weiss @Passionweiss]

This is like the Great Library of Alexandria going up in smoke

[Anish Giri @anishgiri]

I am playing. Based.
I am not playing. Based.
I am playing. Based.

BasedBasedBased app.

[Vijay Damerla @_dyajiv]

@theneedledrop Chaos Is My Ladder 2- Conway the Machine

[hottiepants @punishedpants]

you guys are going to lose forever if this is the only analysis you are willing to do

[Opera GX @operagxofficial]

We're adding a feature that automatically mutes your audio if you accidentally play KSI's new song

[Donald J. Trump @realDonaldTrump]

@hasanthehun THANK YOU for liking my post!

I’ll send you IMPORTANT ELECTION UPDATES for North Carolina. Make sure you are ready to VOTE FOR DONALD J. TRUMP by November 5th.

Reply #stop to opt-out.

[Variety @Variety]

How to Watch 'Family Guy' Online https://t.co/CKZA4Qs86K

[Vijay Damerla @_dyajiv]

@chesscom wait O-O-O is legal tho the rook is allowed to be under attack through the castling

[Dave Wiskus @dwiskus]

Timing.