#1
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RMD Guitars?
So what if any guitars have you bought with your RMDs? Did you go for something special? If you have a story I'd like to hear it.
Required Minimum Distribution
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Waterloo WL-S, K & K mini Waterloo WL-S Deluxe, K & K mini Iris OG, 12 fret, slot head, K & K mini Follow The Yellow Brick Road Last edited by Mr. Jelly; 11-24-2019 at 01:23 PM. |
#2
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Okay, maybe I’m beyond the pale living in Alaska as I do, but what does “RMD” stand for?
whm |
#3
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Yeh, I was wondering the same thing...
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Emerald X20 Emerald X20-12 Fender Robert Cray Stratocaster Martin D18 Ambertone Martin 000-15sm |
#4
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Required Minimum Distribution?
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#5
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I had no idea. RMD, like annuities eventually provide? I have never wanted to buy anything just because I could afford to, so do not spend money when I get windfalls.
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The Bard Rocks Fay OM Sinker Redwood/Tiger Myrtle Sexauer L00 Adk/Magnolia For Sale Hatcher Jumbo Bearclaw/"Bacon" Padauk Goodall Jumbo POC/flamed Mahogany Appollonio 12 POC/Myrtle MJ Franks Resonator, all Australian Blackwood Goodman J45 Lutz/fiddleback Mahogany Blackbird "Lucky 13" - carbon fiber '31 National Duolian + many other stringed instruments. |
#6
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If that's the correct definition, I'm still about 16 years away. At least I have plenty of time to consider my options
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Breedlove Masterclass Dread - Sitka/Koa Breedlove Masterclass Concert - Sitka/BRW Seagull Artist Deluxe CE Seagull Artist Element Furch G22CR-C Several other exceptional guitars, but these make me smile and keep me inspired! Last edited by Ed66; 11-24-2019 at 02:04 PM. |
#7
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RMD = Required Minimum Distribution refers to withdraws from traditional IRAs and 401(k) that are required by the US Federal Government.
These are tax advantaged accounts that one pays taxes on upon withdrawal, and the .gov wants their cut, so eventually you have to take the money out.
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Larrivee OM-03RE; O-01 Martin D-35; Guild F-212; Tacoma Roadking Breedlove American Series C20/SR Rainsong SFTA-FLE; WS3000; CH-PA Taylor GA3-12, Guild F-212 https://markhorning.bandcamp.com/music |
#8
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In answer to the OP, the precise number of guitars I've bought with an RMD is zero. whm |
#9
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RMD is something to take and reinvest elsewhere. I mean, yeah, it’s spendable, but really, putting it into a fund that generates more income is what I’ll do for a while yet.
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#10
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Once more in the same thread, I'm with Wade....
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Emerald X20 Emerald X20-12 Fender Robert Cray Stratocaster Martin D18 Ambertone Martin 000-15sm |
#11
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I agree that it makes no sense to buy something just because you happen to have some available funds. Folks who do that tend not to have to worry about RMD since they may do alot more spending than saving.
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It never moves any faster than it's supposed to go - Taj Mahal Last edited by pszy22; 11-25-2019 at 09:39 AM. |
#12
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Wishfully, he probably expected a discussion about guitars being bought with his "hard earned money". As a professional financial planner I see that most of my clients don't really need their RMD's for living expenses and would rather not be forced to take them. They didn't "do a lot more spending than saving", quite the opposite. I'd imagine that the OP fits this category and probably didn't need the financial advice.
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McCollum Grand Auditorum Euro Spruce/Brazilian PRS Hollowbody Spruce PRS SC58 Giffin Vikta Gibson Custom Shop ES 335 '59 Historic RI ‘91 Les Paul Standard ‘52 AVRI Tele - Richie Baxt build Fender American Deluxe Tele Fender Fat Strat |
#13
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If you people are waiting for the cash from your RMD's to flow in before purchasing new instruments you're priorities are askew.
Instruments are to be purchased near the top of your list - right after food. And buy cheaper food if you're not leaving enough for nice instruments. RMD's are for financing the addition on the house for all your instruments.
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Keith Martin 000-42 Marquis Taylor Classical Alvarez 12 String Gibson ES345s Fender P-Bass Gibson tenor banjo |
#14
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I'm still shy by a couple calendar years for the RMD switch to flip. Have to wait for it to see if my fingers still work and whether the stock market still exists, for that matter... (Not trying to start anything!!!)
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"I know in the morning that it's gonna be good, when I stick out my elbows and they don't bump wood." - Bill Kirchen |
#15
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Viewed in that light, dealing with the RMD would just be an issue of: do I want to re-invest or park the $'s somewhere else or do I want to purchase something that will give me enjoyment.
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Breedlove Masterclass Dread - Sitka/Koa Breedlove Masterclass Concert - Sitka/BRW Seagull Artist Deluxe CE Seagull Artist Element Furch G22CR-C Several other exceptional guitars, but these make me smile and keep me inspired! |