Originally Posted by Buehler445:
Nice work. I’d consider taking some profit. At least to break even.
Lot to be proud of.
I believe I need to wait till I've held them for over a year to avoid paying the short term capital gains tax. There's less than two months to go so I'm going to try and hang on till then. If the market takes a big hit from another event like the pandemic then I may just double down because as long as interest is kept so low it will bounce back pretty fast I think. I think!? [Reply]
I do all my crazy stuff in my IRA so I won't have to worry about that. I do the really crazy stuff in the small Roth I have. Trying to run that up to 6-figures tax free. [Reply]
Originally Posted by philfree:
I believe I need to wait till I've held them for over a year to avoid paying the short term capital gains tax. There's less than two months to go so I'm going to try and hang on till then. If the market takes a big hit from another event like the pandemic then I may just double down because as long as interest is kept so low it will bounce back pretty fast I think. I think!?
Fair enough. I'd have a pretty itchy trigger finger, but I also didn't make the moves so who am I to say? [Reply]
Originally Posted by philfree:
I believe I need to wait till I've held them for over a year to avoid paying the short term capital gains tax. There's less than two months to go so I'm going to try and hang on till then. If the market takes a big hit from another event like the pandemic then I may just double down because as long as interest is kept so low it will bounce back pretty fast I think. I think!?
Pull the chart back enough and it's always up. Do it. [Reply]
Originally Posted by philfree:
Long term the market always goes up so double up? Is that what you're saying?
If you can, long term, without putting you or your family in jeopardy. I'm in no position to offer guidance on that.
Age is a consideration as well. Younger = more aggressive. Older - safer. You can see that in those year of retirement funds your 401K probably offers. [Reply]
Originally Posted by eDave:
If you can, long term, without putting you or your family in jeopardy. I'm in no position to offer guidance on that.
Age is a consideration as well. Younger = more aggressive. Older - safer. You can see that in those year of retirement funds your 401K probably offers.
Yeah I'm way underinvested for the amount of cash I have so I can double down but then it becomes more stressful. As it is I'm comfortable with the amount I have invested so I'll only go in deeper if a golden opportunity arises.
I'll be 60 in August so I need a good strong 5 years of growth. In my 401k I just go down the middle on aggressiveness. [Reply]
Originally Posted by philfree:
Yeah I'm way underinvested for the amount of cash I have so I can double down but then it becomes more stressful. As it is I'm comfortable with the amount I have invested so I'll only go in deeper if a golden opportunity arises.
I'll be 60 in August so I need a good strong 5 years of growth. In my 401k I just go down the middle on aggressiveness.
I do feel confident in advising you to put your 401K towards your large cap fund or index. Safe bet there (I peek at mine on the regular and adjust to current trends. I made stupid money on emerging markets a few years ago, I think, and it's because I kept looking at the overall earnings of each option my 401K offered, which is through Fidelity. I do like my bitcoin, what I'm seeing out of there, and it's easily accessible if needed. I have no "savings" account anymore. That all went to BTC (the graphs I shared). Don't sit on too much cash as that cash is losing value. [Reply]
Originally Posted by eDave:
That all went to BTC (the graphs I shared). Don't sit on too much cash as that cash is losing value.
And it will continue to do so.....For Bitcoin, I would wait for it to break ATH at this point, as you don't want to see a double top of any sort. [Reply]
