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The Lounge>Personal finance and investing megathread extravaganza
DaFace 11:23 AM 06-27-2016
I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin,
this flow chart can help. Ask for advice in the thread for more help!
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Shag 03:14 PM 02-11-2020
Originally Posted by Great Expectations:
I finally dumped IQ and bought a bunch of PG&E. I should recoup my losses in about a month. Look at PG&E’s chart.
PCG is the one that got away for me. I was seriously considering a position in the $3s after the last big power shutoff in NorCal, and stupidly, didn't pull the trigger. Would be 600% right now. Ugh.
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ReynardMuldrake 04:20 PM 02-11-2020
Originally Posted by Rudy tossed tigger's salad:
Can someone explain r/wallstreetbets to me? Im a finance dummy, not a bit interested in high-risk trading for myself, but just curious how these huge money fluctuations work.
They don't work. There's a huge confirmation bias in that sub. I would take their advice for entertainment value only.
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Hammock Parties 10:27 AM 02-12-2020
IQ up another 3.35% today

YOU WERE FOOLS
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lewdog 05:57 PM 02-12-2020
Originally Posted by Hammock Parties:
IQ up another 3.35% today

YOU WERE FOOLS
I put my IQ money, sold at a lost, on BABA when I sold.


I win.
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Hog's Gone Fishin 10:27 AM 02-14-2020
I wish I'd jumped back in to IQ October 1.

Up 70%
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ReynardMuldrake 11:09 AM 02-14-2020
CGC KILLING it with earnings today. Still a good entry point, IMO.
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Pointer19 11:13 AM 02-14-2020
Investing another 1/24th of the annual IRA limit today...

I know DCA is boring, but I'm not in a position to have all the fun of picking individual stocks like some of you. At least I'm putting SOMETHING away, right? :-)
[Reply]
Buehler445 11:18 AM 02-14-2020
Originally Posted by Pointer19:
Investing another 1/24th of the annual IRA limit today...

I know DCA is boring, but I'm not in a position to have all the fun of picking individual stocks like some of you. At least I'm putting SOMETHING away, right? :-)
Yes. Picking stocks is speculating.

You are investing.
[Reply]
DaFace 02:56 PM 02-14-2020
Originally Posted by Pointer19:
Investing another 1/24th of the annual IRA limit today...

I know DCA is boring, but I'm not in a position to have all the fun of picking individual stocks like some of you. At least I'm putting SOMETHING away, right? :-)
I started the thread, and I'm 100% in target date index funds these days. Picking stocks is interesting, but I don't have time to really dig into it, nor am I really convinced I'd ever be able to beat the indexes anyway.

Everyone has their own way of doing it.
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ChiTown 03:08 PM 02-14-2020
Originally Posted by Pointer19:
Investing another 1/24th of the annual IRA limit today...

I know DCA is boring, but I'm not in a position to have all the fun of picking individual stocks like some of you. At least I'm putting SOMETHING away, right? :-)
There is no right or wrong answer, unless you ignore planning for your retirement until it's too late. Do what you can, when you can, and as often as you can.
[Reply]
EPodolak 03:22 PM 02-14-2020
Originally Posted by DaFace:
I started the thread, and I'm 100% in target date index funds these days. Picking stocks is interesting, but I don't have time to really dig into it, nor am I really convinced I'd ever be able to beat the indexes anyway.

Everyone has their own way of doing it.
All index portfolio for me too, for a long time now. It's what I'm comfortable with.

Was tempted a couple of years ago to buy into Shopify at $60 though, it's $500+ this week.
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Rain Man 03:28 PM 02-14-2020
Occasionally I'll hear some truth that boggles my mind in its non-obvious brilliance, and I heard something about retirement savings the other day that I have to share.

One of the obstacles to retirement savings is the amount that's needed. If you don't have a high income, or if you start saving later, it can be easy to see the task as insurmountable.

But what I heard was something I'd never thought of before.

If you're behind on your savings, consider this as a motivator. It's really tempting to take early social security, or even full-age social security (at age 67 for most of us). But there's a huge benefit to waiting until you're 70 to take social security. If you take it at 70 instead of 62, the amount will be roughly 75 percent more for the rest of your life.

So if you're behind on retirement savings or you can't save much, target being able to support yourself until age 70 without social security. Then when you take it you'll get a lot more money to support yourself later, with no extra cost. It represents a huge ROI on the savings you can build, and leverages your money to a massive extent.
[Reply]
Buehler445 03:54 PM 02-14-2020
Originally Posted by Rain Man:
Occasionally I'll hear some truth that boggles my mind in its non-obvious brilliance, and I heard something about retirement savings the other day that I have to share.

One of the obstacles to retirement savings is the amount that's needed. If you don't have a high income, or if you start saving later, it can be easy to see the task as insurmountable.

But what I heard was something I'd never thought of before.

If you're behind on your savings, consider this as a motivator. It's really tempting to take early social security, or even full-age social security (at age 67 for most of us). But there's a huge benefit to waiting until you're 70 to take social security. If you take it at 70 instead of 62, the amount will be roughly 75 percent more for the rest of your life.

So if you're behind on retirement savings or you can't save much, target being able to support yourself until age 70 without social security. Then when you take it you'll get a lot more money to support yourself later, with no extra cost. It represents a huge ROI on the savings you can build, and leverages your money to a massive extent.
Yeah, That's all good and well unless you die at 71:-).

Yeah, taking SS and working as late as possible is typically the best approach.

However, getting on Medicare ASAP, even if you have to pay out of pocket, typically also pays.
[Reply]
MagicHef 03:54 PM 02-14-2020
Originally Posted by Rain Man:
Occasionally I'll hear some truth that boggles my mind in its non-obvious brilliance, and I heard something about retirement savings the other day that I have to share.

One of the obstacles to retirement savings is the amount that's needed. If you don't have a high income, or if you start saving later, it can be easy to see the task as insurmountable.

But what I heard was something I'd never thought of before.

If you're behind on your savings, consider this as a motivator. It's really tempting to take early social security, or even full-age social security (at age 67 for most of us). But there's a huge benefit to waiting until you're 70 to take social security. If you take it at 70 instead of 62, the amount will be roughly 75 percent more for the rest of your life.

So if you're behind on retirement savings or you can't save much, target being able to support yourself until age 70 without social security. Then when you take it you'll get a lot more money to support yourself later, with no extra cost. It represents a huge ROI on the savings you can build, and leverages your money to a massive extent.
That's a really good way to look at it. I don't know much about SS, how does it affect the amount you get if you stop working at 62 and live off savings from 62 to 70 versus working until 70?
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DaFace 03:58 PM 02-14-2020
Originally Posted by EPodolak:
All index portfolio for me too, for a long time now. It's what I'm comfortable with.

Was tempted a couple of years ago to buy into Shopify at $60 though, it's $500+ this week.
While those kinds of stories suck, the problem is that no one (except Clay) likes to talk about all of the pitfalls they avoided. I've been a follower of TSLA for years now, and it would have been pretty sweet to grab some of their stock back when it was around $150. But at the same time, I thought MoviePass was a great idea back in the day, and now they're bankrupt.
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