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But then what do they hold in their tax advantaged accounts? Can they not invest in index funds there?
by jklein11 5y ago
But then what do they hold in their tax advantaged accounts? Can they not invest in index funds there?
- nrmitchi 5y agoI have to assume you're just feigning naivete here. First, officers or directors of S&P500 companies are almost definitely above the income level to open a new Roth IRA. Second, you're really grasping at straws here trying to trace a relatively minuscule investment through mutual fund in order to defend Thiel here. Someone is saying "Bank robbers are bad because they steal other people's money" and you're sitting over here saying "Well technically when I pick up a penny on the ground, it's not mine. So it's basically the same thing. We have to find a solution that solves both problems at the same time".
- fshbbdssbbgdd 5y ago> First, officers or directors of S&P500 companies are almost definitely above the income level to open a new Roth IRA. Backdoor Roth method allows people of any income level to put money in a Roth IRA. I don’t think there’s any income limit to open the account.
- jklein11 5y agoI think you are reading into my post too much. I am trying to wrap my head around these rules regarding IRA transactions. I’m certainly not trying to defend Thiel here. Would you mind pointing me to what in my comment lead you to that conclusion? Also I would be shocked if there aren’t directors at publicly traded companies making under 208,000 and are filing jointly in a single income household.