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huhu posted:Posted this awhile back. Stock just dropped 30% today. Glad I sold.
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Jul 31, 2019 23:37
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Blinky2099 posted:The decision was good regardless of the result. If the stock went up 300% today it was still the correct decision to have sold back then. Good work! Yes. Always Be I have taken a significant hit from doing this. But how could I have predicted that? And I'm still 1005 onboard with this strategy and still do it.
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Aug 1, 2019 01:03
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Hmm. Good point about the fractional shares. I don't think it'll be a big issue? Anyway, I have some time to mull it over.Blinky2099 posted:The decision was good regardless of the result. If the stock went up 300% today it was still the correct decision to have sold back then. Good work! Yeah, no reason to feel bad. A good motto to invest (or heck, even live) by is: 'If I have exact same information as I had back then, would I have made the same decision?' If so, there is nothing to regret over. And if not, you've learned something, you won't make the same mistake again, and you are now wiser for it.
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Aug 1, 2019 03:43
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GoGoGadgetChris posted:You have to have earned at least $Amount that you put in a Roth IRA, but it doesn't have to be literally the same dollar you got from a paycheck. The IRS doesn't care if you're putting Per Diem money or Paycheck Money or Sold My Pokemon Cards Money into the Roth as long as you did earn enough income that it could ostensibly be your earned income you're depositing. EAT FASTER!!!!!! posted:Aren't there rules that to pay money into a Roth it has to have been earned as income in a W2 and subject to taxation or are the rules for earned income unique for this situation? This is relevant because as soon as EAT FASTER Jr starts having earned income, an amount up to the lesser of the limit or the amount of earned income can be placed in a Roth IRA for them, even if they spend all the money they touch.
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Aug 2, 2019 21:08
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Yeah I'm probably ~14 years from that being a possibility but hopefully I'm in the type of financial spot that I can Roth IRA for my kid, that'd be super good.
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Aug 2, 2019 21:14
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Animal posted:You wanna know what makes me feel like a boss? That's sick. One year I got about $50k in tax free per-diem moneys for being on a year long travel assignment, and boy oh boy, do I miss that
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Aug 3, 2019 00:10
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tangy yet delightful posted:Yeah I'm probably ~14 years from that being a possibility but hopefully I'm in the type of financial spot that I can Roth IRA for my kid, that'd be super good. Or are you... https://www.nytimes.com/2017/09/27/style/viral-toddler-videos.html quote:Why Isn't Your Toddler Paying the Mortgage? SpelledBackwards fucked around with this message at 02:14 on Aug 3, 2019 |
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Aug 3, 2019 02:03
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I did my back door roth conversation and apparently I earned 4 cents of interest during the one day it sat in my traditional ira. Is there anything I should do with it? Am I going to have to pay taxes on it when I convert next year?
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Aug 3, 2019 17:56
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Mahatma Goonsay posted:I did my back door roth conversation and apparently I earned 4 cents of interest during the one day it sat in my traditional ira. Is there anything I should do with it? Am I going to have to pay taxes on it when I convert next year?
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Aug 3, 2019 17:59
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Mahatma Goonsay posted:I did my back door roth conversation and apparently I earned 4 cents of interest during the one day it sat in my traditional ira. Is there anything I should do with it? Am I going to have to pay taxes on it when I convert next year? Taxes forms are rounded to the nearest dollar.
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Aug 3, 2019 18:03
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Mahatma Goonsay posted:I did my back door roth conversation and apparently I earned 4 cents of interest during the one day it sat in my traditional ira. Is there anything I should do with it? Am I going to have to pay taxes on it when I convert next year? 
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Aug 3, 2019 18:28
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Why is it that it takes an instant to buy a Vanguard ETF during market hours, but buying into a Vanguard mutual fund for the first time takes days?
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Aug 3, 2019 18:51
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DreadCthulhu posted:Why is it that it takes an instant to buy a Vanguard ETF during market hours, but buying into a Vanguard mutual fund for the first time takes days? Because ETF's trade on the market like stocks. Mutual funds can only be bought at the end of the day.
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Aug 3, 2019 19:07
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Volkerball posted:Because ETF's trade on the market like stocks. Mutual funds can only be bought at the end of the day. Ah interesting, good to know.
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Aug 5, 2019 01:12
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I imagine I’m not alone in feeling like the market is a manic idiot’s playground these days, and it makes me wonder how on earth people in the stock market thread can make bets on day to day fluctuations and feel like they’re doing anything other than flip a coin. Even holding only total market/bond/international funds feels like it’s risky in the present environment, but it’s the only game in town as far as I’m concerned. I’m glad I’m 20+ years from retirement, because right now feels like a time when I’ve got no idea if my money is going to be halved at any moment (and I’m kind of curious if that would be beneficial for me in the long run). I even briefly thought about some of the Wellington/Wellesley type cheap actives, then came back to my senses. But while I’m not pulling anything out of the market it is making me wonder about putting more in right now. What I’m doing is prioritizing removing the remainder of my wife’s student loan debt rather than our backdoor IRAs, since it feels like a guaranteed 6.5% return and working down nondischargable debt is a better idea than maxing our our cap space in a volatile market. I’ll revisit in December and maybe finish the 6k apiece then.
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Aug 5, 2019 15:23
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Velius posted:I imagine I’m not alone in feeling like the market is a manic idiot’s playground these days, and it makes me wonder how on earth people in the stock market thread can make bets on day to day fluctuations and feel like they’re doing anything other than flip a coin. The people who do that are, generally, people who have already hit their savings/investment goals and have some "playing around" money leftover. It's a hobby like anything else. Velius posted:But while I’m not pulling anything out of the market it is making me wonder about putting more in right now. That is, by definition, timing the market. You're making an investment decision based on what you THINK the market is going to do. Doesn't matter if you're pulling money out or delaying putting money in, you're still timing the market. Velius posted:What I’m doing is prioritizing removing the remainder of my wife’s student loan debt rather than our backdoor IRAs, since it feels like a guaranteed 6.5% return and working down nondischargable debt is a better idea than maxing our our cap space in a volatile market. I’ll revisit in December and maybe finish the 6k apiece then. Market timing aside, 6.5% is pretty high, especially for something like student loan debt that you can't get rid of. And that said, paying down a fixed loan IS in fact a guaranteed return. Bottom line, if you're going to compare that to a possible 7% stock-based return, then you're really close enough where it makes no real difference. I'm sure somebody out there is making investment decisions based on sub-1% differences in return, but I don't think that's a good strategy for most people. If your retirement contributions are high enough and you just have some extra money sitting around to invest, personally I would err on the side of paying down the debt (regardless of what the market is doing). DaveSauce fucked around with this message at 16:03 on Aug 5, 2019 |
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Aug 5, 2019 16:01
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I got a baby coming so I’m wondering where to place my HSA money. S&P500 seems too volatile for anything under a 10 year horizon. I just want it to safely grow at a rate not necessarily higher than a CD or a high yield savings account. If I don’t invest it it will just sit there stagnant where it will wither away to inflation. I already have $6k in this liquid state as a short term reserve but am wondering if I should keep the rest as a medium term reserve or if I should look at it on a 39 year horizon just like I do my 401k and Roth.
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Aug 5, 2019 16:02
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I gave the thread a more appropriate tag
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Aug 5, 2019 16:07
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Simpsons Reference posted:I gave the thread a more appropriate tag Nice try but I ain’t looking at no financial news.
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Aug 5, 2019 16:08
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Animal posted:I got a baby coming so I’m wondering where to place my HSA money. S&P500 seems too volatile for anything under a 10 year horizon. I just want it to safely grow at a rate not necessarily higher than a CD or a high yield savings account. If I don’t invest it it will just sit there stagnant where it will wither away to inflation. I already have $6k in this liquid state as a short term reserve but am wondering if I should keep the rest as a medium term reserve or if I should look at it on a 39 year horizon just like I do my 401k and Roth. What's the out of pocket max for you HDHP? I would just take that amount, put it in cash in your HSA and then toss the rest into S&P/TSM etc.
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Aug 5, 2019 16:20
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Sock The Great posted:What's the out of pocket max for you HDHP? I would just take that amount, put it in cash in your HSA and then toss the rest into S&P/TSM etc. That’s exactly how I have it set up right now. $3k for the wife + $3k for me (and soon $3k for the baby), in the HSA. The rest is being plunked into the cheap S&P500 fund on TD Ameritrade. I’m worried about sudden baby related medical emergencies and in typical American fashion our insurance not covering a bunch of it at all.
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Aug 5, 2019 16:30
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Animal posted:That’s exactly how I have it set up right now. $3k for the wife + $3k for me (and soon $3k for the baby), in the HSA. The rest is being plunked into the cheap S&P500 fund on TD Ameritrade. Be careful with out of pocket max vs deductible. That's where people get screwed i.e. my deductible is like $3k but my oop max is like $10k.
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Aug 5, 2019 17:11
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ranbo das posted:Be careful with out of pocket max vs deductible. That's where people get screwed i.e. my deductible is like $3k but my oop max is like $10k.
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Aug 5, 2019 17:40
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I held a large amount of my account in cash between Thursday and Friday, as I sold shares of multiple funds and wanted them all in a lump sum when buying a new fund. So that buy order executed Friday night.... wish it took a day longer! Now to just not check my account for several months.
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Aug 5, 2019 18:30
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What are some ways I can lower my tax liability? The only thing that I know of is maxing out my 401k, which I am in the process of doing. Is there anything else that's relatively simple?
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Aug 5, 2019 19:28
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Do you know about IRA's? This priority list from the OP is still accurate, although the IRA contribution limit is now $6,000 instead of $5,500, and it's $19,000 for 401k's. quote:1) Contribute to 401(k) up to employer match. Always get the free money!
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Aug 5, 2019 19:31
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obi_ant posted:What are some ways I can lower my tax liability? The only thing that I know of is maxing out my 401k, which I am in the process of doing. Is there anything else that's relatively simple? Make less money
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Aug 5, 2019 19:37
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Max out your HSA if you have one, your traditional 401k, potentially a traditional IRA but based on this question I imagine you're trying to get your income to the point where you can just contribute to a Roth IRA
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Aug 5, 2019 19:40
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Take unpaid leave for the rest of the year.
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Aug 5, 2019 19:42
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obi_ant posted:What are some ways I can lower my tax liability? The only thing that I know of is maxing out my 401k, which I am in the process of doing. Is there anything else that's relatively simple? Get married; work for a government entity with a 457b plan; have some kids or other dependents.
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Aug 5, 2019 19:42
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Simpsons Reference posted:Make less money Actually, I found a job that pays less than what I've previously made! GoGoGadgetChris posted:Max out your HSA if you have one, your traditional 401k, potentially a traditional IRA but based on this question I imagine you're trying to get your income to the point where you can just contribute to a Roth IRA I should probably look into a HSA, I currently max out my employer's 401k and my Roth IRA. Inept posted:Get married; work for a government entity with a 457b plan; have some kids or other dependents. Got married, have a kid... maybe I'll just have more kids...
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Aug 5, 2019 19:54
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Simpsons Reference posted:I held a large amount of my account in cash between Thursday and Friday, as I sold shares of multiple funds and wanted them all in a lump sum when buying a new fund. So that buy order executed Friday night.... wish it took a day longer! Bummer but not much you can do. I made my normal purchase on the 1st. Such is how it goes.
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Aug 5, 2019 19:55
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ranbo das posted:Be careful with out of pocket max vs deductible. That's where people get screwed i.e. my deductible is like $3k but my oop max is like $10k. According to the Cigna app our family deductible is $3k. Then the individual OOP max is $3k and our family OOP max is $9k. As for my HSA I currently have $6.5k liquid (should be $9k by years end) and $3k invested. My plan is to keep $9k liquid and invest anything over that, hopefully maxing out the HSA until the day I retire, or the day we decide we need a different insurance plan that does not allow for an HSA. Animal fucked around with this message at 21:44 on Aug 5, 2019 |
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Aug 5, 2019 21:24
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I know this is the long term thread, but my wife's parents both passed away in the past year, leaving a retirement account to their kids. My sister in law dragged her feet on opening an account until last week, meaning things just sat in a pretty aggressive allocation all this time.  Timing the market etc etc, but is there any reason not to let things recover a bit if we don't necessarily need the money immediately? Pretty sure I know the answer/I shouldn't be angry but isn't that what in-laws are for? Residency Evil fucked around with this message at 21:41 on Aug 5, 2019 |
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Aug 5, 2019 21:38
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Let what things recover? Despite a red day today we're still up an insane 20% YTD and within a few percent of all-time highs.
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Aug 5, 2019 21:50
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Residency Evil posted:I know this is the long term thread, but my wife's parents both passed away in the past year, leaving a retirement account to their kids. My sister in law dragged her feet on opening an account until last week, meaning things just sat in a pretty aggressive allocation all this time. When the market went sharply UP over the past 8 months, were you happy with her for dragging her feet? How did you feel on August 16th, 2018, or March 21st 2019, or June 6th 2019, when the SP500 closed at ~the same level as today? (You probably don't remember how you felt on those three days, and so years from now you definitely won't remember how you felt today!)
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Aug 5, 2019 21:53
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GoGoGadgetChris posted:When the market went sharply UP over the past 8 months, were you happy with her for dragging her feet? Well yes, obviously I was 5.5% happier with her on Wednesday.
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Aug 5, 2019 22:27
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I hope it goes down more tomorrow
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Aug 5, 2019 22:28
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Ally going down from 2.1% to 1.9% as of tomorrow, thanks a lot trade wars 
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Aug 5, 2019 22:31
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Synchrony cut theirs from 2.25 to 2.15. I’m sure all the HYS are going to be effected by the Feds rate cut.
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Aug 5, 2019 22:35
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