Money Investing megathread extravaganza - Page 471

**DaFace** · 06:35 PM

A place to talk about investing stuff.

suzzer99 · 02-05-2021, 10:44 PM

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.

**Buehler445** · 02-05-2021, 10:55 PM

Quote:

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?

eDave · 02-05-2021, 10:58 PM

Quote:

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.

philfree · 02-05-2021, 11:04 PM

Quote:

Originally Posted by eDave

Pull the chart back enough and it's always up. Do it.

I'm no pro at this so for transparency's sake I don't know what you mean. Take profit or double up?

eDave · 02-05-2021, 11:14 PM

Quote:

Originally Posted by philfree

I'm no pro at this so for transparency's sake I don't know what you mean. Take profit or double up?

Bit of an extreme example but

1h chart:

Vs.

6m chart:

**Buehler445** · 02-05-2021, 11:18 PM

Quote:

Originally Posted by philfree

I'm no pro at this so for transparency's sake I don't know what you mean. Take profit or double up?

He's saying over the long term they've always bounced back.

philfree · 02-05-2021, 11:20 PM

Quote:

Originally Posted by eDave

Bit of an extreme example but

1h chart:

Vs.

6m chart:

Long term the market always goes up so double up? Is that what you're saying?

eDave · 02-05-2021, 11:26 PM

Quote:

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.

philfree · 02-06-2021, 12:09 AM

Quote:

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.

eDave · 02-06-2021, 12:19 AM

Quote:

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.

Ninerfan11 · 02-06-2021, 03:01 AM

Quote:

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.

KCUnited · 02-06-2021, 08:50 AM

For those trading within your IRAs. I trade in mine as well but after the contribution limit I use Webull.

If I don't necessarily need the liquidity, should I be opening more IRAs to max out and trade in? Is that even allowed? Or am I missing the point entirely of trading within IRAs?

FAH-Q · 02-06-2021, 08:53 AM

Quote:

Originally Posted by KCUnited

For those trading within your IRAs. I trade in mine as well but after the contribution limit I use Webull.

If I don't necessarily need the liquidity, should I be opening more IRAs to max out and trade in? Is that even allowed? Or am I missing the point entirely of trading within IRAs?

You cannot max out more than one IRA. So you can only contribute $6,000 (or $7,000 if over 50) per year into any IRA you have. I assume most people utilize Roth IRAs to trade within since there are no taxable gains recognized within that account, assuming you don’t actually withdraw the earnings.

KCUnited · 02-06-2021, 08:58 AM

Quote:

Originally Posted by FAH-Q

You cannot max out more than one IRA. So you can only contribute $6,000 (or $7,000 if over 50) per year into any IRA you have. I assume most people utilize Roth IRAs to trade within since there are no taxable gains recognized within that account, assuming you don’t actually withdraw the earnings.

So after I max out my 401K and roth IRA my only option for adding funds to trade with is a brokerage account?

FAH-Q · 02-06-2021, 09:01 AM

Quote:

Originally Posted by KCUnited

So after I max out my 401K and roth IRA my only option for adding funds to trade is a brokerage account?

Correct. And you definitely want a brokerage account anyway as there is a bucket strategy for withdrawing money once you get to the RMD age and you have to start recognizing some of your 401k distributions.

So there is always a magic combination you can use once RMDs kick in to limit, to the extent possible, total taxable income during retirement. That’s why having that brokerage account is critical.

Disclaimer: I am not a financial advisor, however I am a CPA so I do know a little bit bout taxes.

06-27-2016, 11:23 AM
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $96899	Investing megathread extravaganza A place to talk about investing stuff. Last edited by DaFace; 02-19-2021 at 06:35 PM..
Posts: 52,537

02-05-2021, 10:44 PM	#7051
suzzer99 In Search of a Life Join Date: Jan 2010 Location: L.A. Casino cash: $1084284	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.
Posts: 27,732

02-06-2021, 08:50 AM	#7062
KCUnited Cheat Death Join Date: Nov 2007 Location: Land of Drincoln Casino cash: $358244	For those trading within your IRAs. I trade in mine as well but after the contribution limit I use Webull. If I don't necessarily need the liquidity, should I be opening more IRAs to max out and trade in? Is that even allowed? Or am I missing the point entirely of trading within IRAs?
Posts: 35,516