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The Marty Lounge>Investing megathread extravaganza
DaFace 11:23 AM 06-27-2016
A place to talk about investing stuff.
[Reply]
TinyEvel 12:14 AM 02-20-2021
Originally Posted by Hammock Parties:
my dad wants me to lowball the seller on this house i looked at today :-)

i'm thinking there's no ****ing way i have a shot if i do that - everything in the house is practically brand new, they rehabbed the shit out of it - there's at least five or six offers coming in this weekend

i'd be stupid to lowball...right?
Never offer above what you’d be willing to pay based on all you’ve seen so far, and how much you want this home (what are the pro’s and cons. What is a dealbreaker and what are you willing to live with. What is easily changeable —like paint and landscaping — what’s not: location, tile work etc.) Use your agent as a consultant on offer price. If the sellers agent expects 5 or 6 offers chances are it’ll go over asking.

I’ve bought and sold six homes. This last time we got outbid on four homes. A couple times by a lot. Cash offers. Etc. But our offer was what I was willing to pay and be satisfied, not what I thought would win the house. One of them I went to bed hoping we didn’t get it. We didn’t. this one we ended up with we bud high but it’s much better than any we got beat out on, and wasn’t the most expensive either.

There is ALWAYS another house.
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TinyEvel 12:29 AM 02-20-2021
Originally Posted by DJay23:
Same here. Well maybe not pissed, but disappointed that I wasn't wise to it.

I've gotten a late start on supplemental retirement savings and have already banked a lot. I shudder to think how much I would have if I had started saving at 22 rather than in my 30s.
I’m 50. I e been contributing the maximum to a 401k for 25 years. It’s quadruple what I’ve put into it (about averaging 5-8 percent per year over this time) but still is only worth about 5 years salary at my current level.

I wish I’d also had started an E-trade and IRAs on top of that or property investments.

401k isn’t enough. IMO.

Plus, the past 7 years have been unprecedented. nasdaq took 12 years to get back to it’s 1999 level.
[Reply]
Buehler445 01:34 AM 02-20-2021
Originally Posted by Titty Meat:
Is a Roth account something worth setting up?
Yeah. So the way a Roth works is you put in after tax money. Meaning you. Donít get to reduce your taxable income by the contribution amount. Also the gains arenít taxed. That means that once you get to retirement everything that comes out is tax free. There are other benefits and itís easier to get to if shot hits the fan but the tax breaks are real.

A 401K and Traditional IRA contributions are made pretax. 401K reduces your w-2 wages, IRA you get a tax deduction. Since the money in the fund hasnít ever been taxed, the distributions are taxable income. Now thatís not all bad. In theory, in retirement, your taxable income should be low so it wonít be a super high tax rate either way. But in most cases Roth is better. Especially if you can afford the taxes.

If your employer offers a match on your 401K definitely contribute enough to hit all the match. DO THIS. IT IS FREE MONEY. After that, you should at the very least calculate your tax savings from the 401K and stick that in a Roth.

Optimally your employer will offer a 401K with a Roth option but there arenít a ton of those plans around.

Do yourself a favor and get some fucking money in some fucking ETF. The details are far less important than getting it the fuck in there. Even if itís Ed Jones, just fucking do it. Now.


Originally Posted by lewdog:
Oh I do and have been.

I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.

A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH.
In theory there is some tax optimization you can do, but Iím not dork enough to calculate it. And Iím pretty dork.

Originally Posted by Titty Meat:
I'm pissed that this was never explained to me when I was in college.
Originally Posted by Hammock Parties:
No one told me shit either.

Financial lifestyle should be a mandatory class in HIGH SCHOOL.

Our educational system is a failure.
Yíall motherfuckers took the wrong classes.

Whatever youíre going to do, business is at the heart of it all. Know the numbers.

/soapbox.
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eDave 02:16 AM 02-20-2021
And just like that, this thread returns to it's original intention.
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ChiliConCarnage 06:40 AM 02-20-2021
Originally Posted by Hammock Parties:
Incredibly so. If I wasn't so fucking poor I'd put in 5,000 every goddamn year and tell Uncle Sam to pound sand when I'm old.
I assumed you had a Roth. You could do your trading in a Roth. Ive never done it but my understanding is you can always remove your contributions. So if you put in 6k and it grows to 10k, you can remove the 6k w/o penalty. You may want the extra 4k minus taxes for buying a house now. Just throwing it out there
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lewdog 06:43 AM 02-20-2021
Originally Posted by ChiliConCarnage:
I assumed you had a Roth. You could do your trading in a Roth. Ive never done it but my understanding is you can always remove your contributions. So if you put in 6k and it grows to 10k, you can remove the 6k w/o penalty. You may want the extra 4k minus taxes for buying a house now. Just throwing it out there
Yes. A ROTH can be used just like this. Awesome advice. Because contributions can be removed without penalty, it can be treated like an extra savings account if needed. Not that youíd want to remove a ton of your contributions but itís better than a loan against your 401k in a crunch.
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lewdog 06:48 AM 02-20-2021
Originally Posted by Hammock Parties:
Really, lewdog mentioned it first. I just blew it out my ass.

I hope you got into FRX because I see good things coming in pairs. AH today was a very good sign.
FINALLY SOME FUCKING CREDIT!!!

I also posted ARTL which I bought the day I posted here and sold the next day for 50% profit.

/no big deal
[Reply]
DaFace 07:41 AM 02-20-2021
Originally Posted by eDave:
And just like that, this thread returns to it's original intention.
Kind of funny. I still think I'll only stop by occasionally, though. I'm pretty busy these days, and it's been a waste of time to come in here to wade through 100 posts a day of alphabet soup.
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Mr_Tomahawk 07:43 AM 02-20-2021
Originally Posted by lewdog:
FINALLY SOME FUCKING CREDIT!!!

I also posted ARTL which I bought the day I posted here and sold the next day for 50% profit.

/no big deal

Whatís going to be the big mover next week?

(I already own FRX)
[Reply]
lewdog 07:46 AM 02-20-2021
Originally Posted by Mr_Tomahawk:
Whatís going to be the big mover next week?

(I already own FRX)
Not sure yet, depends where market heads. Could be 5-10% correction. I will wait and see how Monday opens and probably more importantly, closes.
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MTG#10 08:40 AM 02-20-2021
This thread is actually better than WallStreetBets because they don't allow talk about SPACs and penny stocks. I've made more from using tips on those the last couple weeks than tips from there for three months. Should have started paying attention sooner.
[Reply]
neech 09:23 AM 02-20-2021
Originally Posted by DaFace:
Kind of funny. I still think I'll only stop by occasionally, though. I'm pretty busy these days, and it's been a waste of time to come in here to wade through 100 posts a day of alphabet soup.
Well I guess that's too bad.
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MTG#10 09:35 AM 02-20-2021
Im hoping some of you with more knowledge on the subject could explain this, as this is the first time I've ever invested in SPACs.

"Yahoo Finance Editor-in-Chief Andy Serwer recently explored the SPAC frenzy and cited Stanford Law Professor Michael Klausner's study “A Sober Look at SPACs,” which found, "SPAC investors that hold shares at the time of a SPAC’s merger see post-merger share prices drop on average by a third or more."

https://finance.yahoo.com/news/why-s...192802863.html

If this is true, wouldn't we be better off getting out of CCIV and FRX before the mergers?
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RunKC 09:43 AM 02-20-2021
Originally Posted by Titty Meat:
Is a Roth account something worth setting up?
This is critical for your retirement and it really doesnít cost that much. Itís like that saying ďthe best time to plant a tree was 20 years ago, but the second best time is today.Ē Do it now bc time is what helps compound your money to grow.

Put as much in that bitch as you can afford to. Itís really one of the average Joeís best vehicles to financial freedom.
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In58men 10:01 AM 02-20-2021
Originally Posted by lewdog:
Oh I do and have been.

I just know that not everyone can afford that. There's nothing wrong with even a few hundred dollars per year, especially if you're young.

A ROTH IRA is probably the most valuable investment vehicle for middle class earners. You should, however, contribute first to your 401k to get your full employer match (free money). After that, people should look to fund a ROTH.
Yes sir!

I put in 20% and my employer matches 6%. Theyíll match 10% after 10 years of employment, I have 3 more years to go.
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