What should Scav do?

[hockey2315]

Scav-

I think if you're gonna do it, which it seems like you're already set in your decision, you should do it sooner rather than later. I know you're an Arlington guy and now is definitely the time to play there. People are having a very tough time figuring out the surface and if you are able to concentrate and dedicate more time to figuring it out than others you could have a big edge.

[gales0678]

Originally Posted by Scav

Lets play a game, see above

Scav - i would go for the accounting degree - take some of the 35k and set it aside for living expenses , play with the rest, you can then take the cpa test and be in a good position by the time you are 30-31, from there with dedication you can write your own ticket

The world always needs accountants , that will never change, good luck to you.

I would take some $$$ and put it to work in the mkt, get yourself a roth ira, great for young people , the gov't has created an incentive to fund these things , earnings are tax free if you leave the $$$ in there for a certain # of years, and the withdrawls would be tax -free when you are in retirement age---if you can do well at the track the mkt s/b a piece of cake for you

[AeWingnut]

My uncle managed to live off playing the horses for a little more than a year. Then as all gambling stories - it ends in tragedy
he put every penny on a horse - horse wins
then the INQUIRY lights up

back to work

[skippy3481]

Gales i think that is great advice. Although roth dollars are taxed going in not coming out as opposed to the traditional 401k where it is opposite. Scavs, my best advice, do what makes you happy. Personally if i was in your position, I would take a stab at it. 50 Years from now would you rather look back and say well i tried and this is the outcome or say "i wonder if...." I would def not tell your boss to gfy. Take a little time off, study more and throw some time into the races.

[gales0678]

Originally Posted by skippy3481

Gales i think that is great advice. Although roth dollars are taxed going in not coming out as opposed to the traditional 401k where it is opposite. Scavs, my best advice, do what makes you happy. Personally if i was in your position, I would take a stab at it. 50 Years from now would you rather look back and say well i tried and this is the outcome or say "i wonder if...." I would def not tell your boss to gfy. Take a little time off, study more and throw some time into the races.

I think at Scavs age the roth is more ideal than a regular ira, if he can put 4k in a year for the next 10 years and invest wisely when he gets 59.5 he can withdraw the $ (contributions and gains) tax free. With the ira he is taxed at ordinary income upon withdrawl. I think the roth is a great product for young people, co's are now offering the roth 401k at work. If you can be in the mkt for 30+ years , i believe the roth is a no brainer, assuming the dems don't change the tax law on it

[skippy3481]

Oh i agree gales, sorry i was just clarifying your point. I agree the roth being a much better value with market age. But alot of people just hear retirement account or 401k or roth and think its just diffrent names for the same thing. Just trying to add my two cents well maybe 1.5 cents since i did capitalize off your remarks.