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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!
[Reply]
scho63 05:58 PM 05-21-2020
The level of pessimism being bandied about is pretty surreal. Markets normally never go down when things are this pessimistic.

Lots of good value in the market. I bumped up my 401K contributions to the MAX at Amazon, including a good chunk going into AMZN stock.

"Bull Markets begin on Pessimism,
Grow on Skepticism,
Flourish on Optimism
and Die on Euphoria."
[Reply]
Hog's Gone Fishin 06:35 PM 05-21-2020
Originally Posted by petegz28:
Yes which is why Trump being President is what this hinges on. If the Dems get in and start tacking on all the regulation and taxes Trump got rid of then coupled with a Fed raising rates you got a full blown ass whoop headed your way.

Don't say I didn't warn you.
If the dems take over I'm bailing out of everything. They will destroy America as we know it.
[Reply]
Buehler445 06:36 PM 05-21-2020
Originally Posted by scho63:
The level of pessimism being bandied about is pretty surreal. Markets normally never go down when things are this pessimistic.

Lots of good value in the market. I bumped up my 401K contributions to the MAX at Amazon, including a good chunk going into AMZN stock.

"Bull Markets begin on Pessimism,
Grow on Skepticism,
Flourish on Optimism
and Die on Euphoria."
I thought that about the corn market a month ago.

That was foolish.
[Reply]
jdubya 09:28 PM 05-21-2020
So i just got a $2900 check from the stimulus bill I guess. I dont need it personally but I have a 16 year old daughter and thought I would put this in as a starter sum for investments for her. Is she too young for a ROTH IRA? What kind of account would some of you do for your kid? We already have an established college fund for her.....I figured I wanted to start her on a retirement or long term investment fund.
[Reply]
lewdog 09:36 PM 05-21-2020
Originally Posted by jdubya:
So i just got a $2900 check from the stimulus bill I guess. I dont need it personally but I have a 16 year old daughter and thought I would put this in as a starter sum for investments for her. Is she too young for a ROTH IRA? What kind of account would some of you do for your kid? We already have an established college fund for her.....I figured I wanted to start her on a retirement or long term investment fund.
ROTH IRA is the perfect choice as long as she generates her own income for the year. My parents did this for me when I got my first summer job at 15 years old. They put $1k in a ROTH IRA to get me started.
[Reply]
Hammock Parties 08:34 AM 05-22-2020
Last chance to get in on VTIQ at sub 26 level.

Train is leaving station.
[Reply]
Buehler445 12:48 PM 05-22-2020
Originally Posted by jdubya:
So i just got a $2900 check from the stimulus bill I guess. I dont need it personally but I have a 16 year old daughter and thought I would put this in as a starter sum for investments for her. Is she too young for a ROTH IRA? What kind of account would some of you do for your kid? We already have an established college fund for her.....I figured I wanted to start her on a retirement or long term investment fund.
Retirement would be great. Lew probably knows more than I do about the restrictions on Roth but Iím guessing you do have to have earned income to start one.

If she doesnít then a traditional IRA would be fine. You can always roll that to a Roth later, itís just the value of the traditional IRA will be taxable on the distribution. Unless they change the rules in the next 50 years before she takes it out.

Thatís a hell of a thing youíre doing for your daughter.
[Reply]
lewdog 12:59 PM 05-22-2020
Originally Posted by Buehler445:
Retirement would be great. Lew probably knows more than I do about the restrictions on Roth but Iím guessing you do have to have earned income to start one.

If she doesnít then a traditional IRA would be fine. You can always roll that to a Roth later, itís just the value of the traditional IRA will be taxable on the distribution. Unless they change the rules in the next 50 years before she takes it out.

Thatís a hell of a thing youíre doing for your daughter.
She just needs taxable income For the year up to amount depositing for it to be legal.

https://www.nerdwallet.com/blog/inve...ds-a-roth-ira/
[Reply]
jdubya 01:44 PM 05-22-2020
Thanks for the input. She doesnt work for taxable income yet just mostly dog and kid care for neighbors but she will actively look for work when this virus stuff settles down.
[Reply]
Buehler445 03:16 PM 05-22-2020
Originally Posted by jdubya:
Thanks for the input. She doesnt work for taxable income yet just mostly dog and kid care for neighbors but she will actively look for work when this virus stuff settles down.
Well she can sure report the stuff sheís doing and if push comes to shove you can give her part of it for non-employee comp, send her a 1099, and then have her deposit it in there. I canít ever remember the kids stuff but at 2900, I donít think any of it will be over the standard deduction
[Reply]
Hammock Parties 04:57 PM 05-22-2020
Originally Posted by Hammock Parties:
$MARK

Their body temp sensing technology is going to be everywhere in a few months. Watch their twitter acct.
Bought at 1.84.

2.38 right now.

Rocket ship going up.
[Reply]
Hammock Parties 06:18 PM 05-23-2020
I'm telling you guys. Stay woke.

I follow a great investor of $IBIo and I want to repost some things he’s mentioned. I’ll make a thread of it.

— Yates Investing (@yatesinvesting) May 23, 2020


I’ve been extremely busy today, but I’m going to say this...$IBIO lovers. If Ibio-200 goes into clinical trials be ready to ride the rocket up! This will explode.

Im assuming that iBio has produced very good clinical data. Now they can approach BARDA with confidence.

— Yates Investing (@yatesinvesting) May 23, 2020


Seriously just think, they'd own the patent and the manufacturing. Factory Solutions which would go WORLD WIDE ��

— Yates Investing (@yatesinvesting) May 24, 2020


$IBIO Steptoe and Johnson thread:

— Yates Investing (@yatesinvesting) May 23, 2020


So if you’re swinging this to 5 or 10$ you may want to reconsider that and just look at the bigger picture. This could be beyond huge... I think will see news soon and I expect something huge.

I WILL NEVER LEAD SOMEONE DOWN THE WRONG PATH!

— Yates Investing (@yatesinvesting) May 24, 2020

[Reply]
Hog's Gone Fishin 06:47 PM 05-23-2020
LOL
[Reply]
Discuss Thrower 06:50 PM 05-23-2020
That's such a brazen pump you almost have to respect it.
[Reply]
lewdog 06:57 PM 05-23-2020
Originally Posted by Hammock Parties:
I'm telling you guys. Stay woke.









Looks like a Stocktwits post.

Everyone just claims the stocks theyíre following are on fire!
[Reply]
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