Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[Iconic]

I sold all my AMC in green and got out of the market. Things are looking suspect with all the talk of crashes. Time to wait for it to get super bloody then enter.

[lewdog]

I think you guys actually convinced me to do something a bit "daring" for me with the emergency savings vs investing talk.

We keep 6 months of "bills" in emergency savings (doing nothing). We had LOTS of home maintenance repairs this year ($35k to be exact!) so we have worked on building back up to 6 months while contributing barely anything to my wife's ROTH IRA. But I realize I also cannot go back and contribute to this ROTH years later. If I don't max it this year, I can't make that up in the future. I think I'm willing to drop our emergency savings fund to roughly 4-5 months of expenses to max my wife's ROTH IRA.

1. I have a job where I would literally not be out of work if I got laid off. I could land a job the same day.
2. We are at a point in our lives where we are making the LEAST amount of money we will ever make. My wife works 10-15 hours a week at a minimum wage job while our 3.5 year old is in preschool. Once he's in school full-time, she will be getting a full-time job and our income stream will be much better, and we aren't that far away from this happening.
3. A ROTH can technically be used in an emergency as contributions can be withdrawn tax/penalty free at any time.


Thank you CP for showing me the light.

[Hammock Parties]

Next stop for LCID is 35 or 40.

I may sell a bit more then. Want to buy some AMC on this dip.

[neech]

Originally Posted by Hammock Parties

Next stop for LCID is 35 or 40.

I may sell a bit more then. Want to buy some AMC on this dip.

You're making tons of money off LCID, good job Hammock.

[lewdog]

Originally Posted by neech

You're making tons of money off LCID, good job Hammock.

Should we rehash his play on this?

PRICE TARGET $100!!!!

[Hammock Parties]

Originally Posted by lewdog

Should we rehash his play on this?

PRICE TARGET $100!!!!

It is definitely hitting that long term.

This is a company that is delivering cars NEXT MONTH.

This is NOT NKLA. Their battery gives the longest driving range on an EV in the WORLD.

[lewdog]

ILUS sucks ass!!

[Rain Man]

Originally Posted by lewdog

I think you guys actually convinced me to do something a bit "daring" for me with the emergency savings vs investing talk.

We keep 6 months of "bills" in emergency savings (doing nothing). We had LOTS of home maintenance repairs this year ($35k to be exact!) so we have worked on building back up to 6 months while contributing barely anything to my wife's ROTH IRA. But I realize I also cannot go back and contribute to this ROTH years later. If I don't max it this year, I can't make that up in the future. I think I'm willing to drop our emergency savings fund to roughly 4-5 months of expenses to max my wife's ROTH IRA.

1. I have a job where I would literally not be out of work if I got laid off. I could land a job the same day.
2. We are at a point in our lives where we are making the LEAST amount of money we will ever make. My wife works 10-15 hours a week at a minimum wage job while our 3.5 year old is in preschool. Once he's in school full-time, she will be getting a full-time job and our income stream will be much better, and we aren't that far away from this happening.
3. A ROTH can technically be used in an emergency as contributions can be withdrawn tax/penalty free at any time.


Thank you CP for showing me the light.

I never got to have a Roth until 2020 when my income was down enough to qualify, but those things are magical. I think my policy would be to fund a Roth before anything else other than food and shelter.

[KCUnited]

PLTR retreated back into my buy zone

[Buehler445]

Originally Posted by Rain Man

I never got to have a Roth until 2020 when my income was down enough to qualify, but those things are magical. I think my policy would be to fund a Roth before anything else other than food and shelter.

Can’t you set up your company 401K as a Roth?

I talked to an administrator dude that told me qualified plans (401K 403B etc) don’t have income limits for Roth.

[Nixhex]

Originally Posted by Hog's Gone Fishin

CEI
RCAT
NAKD
HIVE
GGPI
BBIG
ANY
PALT
FAMI
MMAT

Bought some CEI - Up over 27% today. Bravo.

[MTG#10]

I'm around, just not much to talk about right now. My only positions right now are AMC and UWMC.

[Rain Man]

Originally Posted by Buehler445

Can’t you set up your company 401K as a Roth?

I talked to an administrator dude that told me qualified plans (401K 403B etc) don’t have income limits for Roth.

Wow, I've never heard of that before. I'll have to look into it.

Maybe I've never heard of it because we don't have a company 401k. We have a Simple IRA, which at the time seemed to be the best tradeoff of risk and reward as a business owner. In retrospect, a 401k would have been better, but only because looking back none of the risks bit us.

[Pointer19]

Anybody here into physical precious metals? I'm intrigued by the stacks these guys have. https://www.reddit.com/r/Wallstreetsilver/top/

[Buehler445]

Originally Posted by Rain Man

Wow, I've never heard of that before. I'll have to look into it.

Maybe I've never heard of it because we don't have a company 401k. We have a Simple IRA, which at the time seemed to be the best tradeoff of risk and reward as a business owner. In retrospect, a 401k would have been better, but only because looking back none of the risks bit us.

That guy I sent you for that financial planner research project you did is the one that told me.

Call him. If your plan isn’t a qualified plan, it might be worth the effort to get a qualified plant to set it up as a Roth. I’m sure your employees would appreciate it too.