UncleSam

It's not about the additional cost ("Joiner Fees") for me. It's very annoying to be stopped by a security as if I committed a crime. Now, I always rent a villa with a private swimming pool. It's not like a luxury hotel but I like a villa better since it's more private and I can bring any number of girls. Besides, I love watching girls swimming naked.

I used this service a few times in the past. It definately makes your ride more enjoyable. I stopped using this service due to lack of new faces. I think it worth trying since you have never been in Pattaya. Ask girls to show you around in the next day or two.

I agree that Owen does his home works. It's good for him but it's so obvious that he has no educational background on finance. I am only trying to warn people here that converting Traditional IRA to Roth IRA is not good for everyone. Since you have your financial advisor, you will find that out soon.

You are making an example who is age 56 and has no income??? Of course you don't pay tax on $4,000 conversion if your entire income $4,000 for the year. I hope you guys are making more than $4,000 a year. The conversion is treated as any other income, so if you are making $80,000 a year ($80,000 seems to be an average on this board based on the average income survey), you need to pay income tax on the $4,000 conversion at $84,000 income tax bracket. If your income is over $100,000 a year, you can't even convert any amount. Yes, RMD is one of the good aspect of Roth IRA, but RMD starts at age 70 and 1/2. Are you planning to not start taking your money until over age 70 and 1/2? You got to be joking. Good luck to anyone here listeing to Owen. I only consult large pension plans so I don't know much about IRAs but I took the course in college. I believe I have a lot more related knowledge on this topic than you have. What is your background, Owen? My point that there is no right answer on personal finance since it's very different by individual, but you are acting like you know the answer.

This is so stupid now. Like you said, he has to pay income tax on the conversion plus 10% penalty if he wants to pay out his 401(K) or Traditional IRA!!!

I never heard about this option. I will look up this opion when I have time. I audit large retirement plans to make sure they have enough money to pay retirement income to the retirees over their life time just like you described above. To warn you, the interest rates IRS use are very low, which means smaller payment. Who does the conversion? I assume your 401(k) administrator does. Do you know the basis they use such as mortality tables (probability to die; RP-2000, GAM83, etc) and interest rate (PBGC or GATT, etc)?

This is not the place you should get tax advise. You need to go to someone qualified to give you this type of advise. Generally, you cannot avoid excise tax if you withdraw money before age 59 and 1/2. To me, I don't think it's practical to convert 401(k) to Roth IRA unless you are expecting to have much higher tax rate in the future. Why would you have much higher tax rate in the future? Most people have lower tax rate when they retire. 401(k) is much better retirement plan than IRA since the higher limits. You may want to make some after-tax contributions to your 401(k); it's not 401(k) since it's after-tax contribution but let's just say it's 401(k). I am too lazy to look up the code. I think 401(l) or something. There is some tax advantages for this after-tax contribution similar to ROTH IRA. You can withdraw prior to age 59 and 1/2 without paying penalty under certain conditions (buy a house or hardship withdrawal, etc). Your plan adminstrator can help you to answer all your questions.

Don't you have to pay regular income tax on the conversion? Where did "15%" come from? I don't know much about IRAs but, it's my understanding that the conversion has a cap if the income over $100,000. If you are self-employed and looking for maximum tax deduction, I think SEP will be better option than IRAs in my opinion (you can deduct up to $44,000 in 2006 vs . 4k - 5k for IRA). Of coure, I advise you to see a financial planner and a tax advisor befor setting up SEPs.

Most of companies (I will say more than 99%) are self insured in the U.S.. Insurance company is just media between the employees and healthcare providedrs. Therefore the insurance companies don't care whether the people with pre-existing conditions are excluded or not. Why are they self insured? Because the companies don't have to pay high premiums to the insurance companies and the companies can get the contracted (discounted) deal with healthcare providers. The biggest problem with healthcare in the U.S. is just doctors and hospitals charge too much, not the insurance companies. I just had tonsil surgery in January. It was only 30 minuate surgery. I walked out of hospital after 2 hours. The total bill was over $5,000, where I was responsible for about $400 after my insurance. Insurance companies have to charge you high premium to stay in business.

If you just spend a little time in the hotel review section, you will find what you want.

It's true that private pension plans are having difficult time to survive these days. Many companies are closing or freezing their pension plans due to high cost. Even more companies will close their plans when "Pension Funding Reform" passes the House in this year. ("Pension Funding Reform" already passed the Senate, which will require additional funding requirement for the private pension plans) However, many people are now realizing that pension plan is better than its alternatives such as 401(k), other defined contribution plans. IMHO, pension plans in private sector will survive because pension plan will be new attraction to recruit better employees. I also think that assuming 10% guaranteed return on your retirement portfolio is insane. If you are rich enough to take risks, then it doesn't matter what you do with your money. I also think real estate is very profitable investment option, but, when you become closer to your retirement, you have to avoid any risks. After you retire, you should invest your money on low risk portfolio which will give you 4-5% return. Here is the easy way to calculate the effect of future inflation if you didn't know. If your expected future asset return is 5% and your expected inflation is 3% then, your actual return is 1.05/1.03 = 1.0194 (1.94% actual return). IRS is looking at 2% or less for the future 10 year outlook on the US inflation. Personally I am not worrying about inflation except medical inflation which have been double degit for a few years. I think ideal retirement income should come from more than one source, such as pension, 401(k) for those in private sector, IRA, 403b for those in public sector, SEP, personal savings, your properties, etc Good luck to you all on your retirement planning. It's never too early to start your retirement planning.

Same in the U.S. It really depends on the policy. Every policy is supposed to disclose this information. Most of them are valid in case of suicide if the policy holder pays the premium for such period of time (typically 1 year). I guess they want to give the person to think about it for at least a year. So I suggest to read the policy before committing suicide. What a nice thread!

Double means one large bed.

It's very hot and muggy. Lots of mosquitos.

I stayed in this hotel about 3 years ago. Maybe it's big coincidence. I used my AMEX card when I checked in. AMEX called me on the next day and told me someone purchased about $5,000 on online using my AMEX card. They wanted to verify it wasn't me. AMEX was very helpful. They canceled my card and sent me a new card right away. I wasn't responsible for anything. I am pretty sure it was one of the hotel employees.