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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Investing megathread extravaganza

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Old 06-24-2021, 08:25 AM   #10246
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Still in APPL Lewdog?
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Old 06-24-2021, 08:43 AM   #10247
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Still in APPL Lewdog?
Yes. I have not trimmed anything yet.

I will likely sell 25% of my position around 135ish and raise my stop.
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Old 06-24-2021, 09:34 AM   #10248
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Yes. I have not trimmed anything yet.

I will likely sell 25% of my position around 135ish and raise my stop.
Nice!
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Old 06-24-2021, 09:35 AM   #10249
scho63 scho63 is offline
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For you guys liking lower priced stocks, check out CAPR.
Capricor Therapeutics. $5.50
Expecting a pop to $7.5-$8 on good news from conference this week
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Old 06-24-2021, 09:44 AM   #10250
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For you guys liking lower priced stocks, check out CAPR.
Capricor Therapeutics. $5.50
Expecting a pop to $7.5-$8 on good news from conference this week
Already up over 50% the last month.
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Old 06-24-2021, 03:37 PM   #10251
lewdog lewdog is offline
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Looking at RBLX above 85.45
I didn’t get in until 85.89 today as I got busy with the morning and I missed setting my order.

Stop at 80.55 for now, 6.2% risk but will look to move up stop to right below intraday low of 6-23 at 81.92, if it starts out stronger tomorrow.
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Old 06-25-2021, 07:23 AM   #10252
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How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000

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Roth individual retirement accounts were created to help middle-class earners set aside money for retirement with no taxes due upon withdrawal. But PayPal co-founder Peter Thiel has used his Roth IRA to amass a $5 billion nest egg.

Thiel’s Roth IRA was worth less than $2,000 in 1999, according to Internal Revenue Service data obtained by ProPublica. Roth IRAs are funded with after-tax dollars, which means at withdrawal the money is tax-free. (Traditional IRAs are funded with pretax dollars, so distributions are taxed at withdrawal.)

The account jumped more than $3 billion in value in just three years, even though Thiel did not contribute money to his Roth after 1999, ProPublica found. It had reached $5 billion at the end of 2019.

Thiel, 53, need only wait until he turns 59½ to withdraw any of his Roth account balance completely tax-free.

Amassing this amount of money in a Roth IRA is not simple. The contribution limit for these accounts is $6,000 a year in 2021 (or $7,000 for people 50 and older). There are also income restrictions. For example, single individuals with modified adjusted gross incomes, or MAGI, of less than $125,000 in 2021 can contribute up to the limit, but their contributions are phased out if their MAGI is between $125,000 and $140,000, the IRS states. If they earn more than $140,000, single taxpayers cannot contribute to a Roth IRA. For married couples filing jointly, the threshold is between $198,000 and $208,000 in 2021.

Thiel and other entrepreneurs have used their Roth IRAs slightly differently from the manner in which the average investor would, ProPublica found. For example, Thiel bought 1.7 million shares of PayPal PYPL, +1.77% in 1999 for $0.001 per share, or $1,700, ProPublica reported.

With this strategy, investors are able to buy a large number of shares in a startup at fractions of a penny per share. When those investments garner large gains, investors can use the proceeds from these investments still inside the Roth IRA to make other investments. Substantial gains could be derived if the company goes public and its share price skyrockets.

The gains from those sales are then tax-free, because they occurred inside a Roth IRA.
https://www.marketwatch.com/story/ho...00-11624551401


I know some traders who do most of their trading in their ROTH IRA account for the exact mentioned above. All gains made from trades are tax free.
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Old 06-25-2021, 07:42 AM   #10253
scho63 scho63 is offline
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Quote:
Originally Posted by lewdog View Post
How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000



https://www.marketwatch.com/story/ho...00-11624551401


I know some traders who do most of their trading in their ROTH IRA account for the exact mentioned above. All gains made from trades are tax free.
If only students were taught this in high school instead of all the worthless shit that is spewed these days maybe our country wouldn't have so many leeches sucking off the government.

Maybe just maybe people woudl be more responsible for their financial well being.
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Last edited by scho63; 06-25-2021 at 07:48 AM..
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Old 06-25-2021, 07:50 AM   #10254
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Basically he was only able to pull this off because he was a accredited investor who had access to shares of his own company before anyone else.

No, the average person cannot pull this off.
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Old 06-25-2021, 07:55 AM   #10255
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That reminds me: so I had a 401k through a previous job with T. Rowe Price. When I left that job, I stayed with T. Rowe Price and now it's labelled as a Rollover 401k.

Is that the same as a Roth IRA? I've contributed to it with post-tax money since it's inception so I'm assuming so.. but figured I'd ask people here who know better.
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Old 06-25-2021, 07:58 AM   #10256
eDave eDave is offline
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It's still a 401K.
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Old 06-25-2021, 08:10 AM   #10257
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Originally Posted by ThaVirus View Post
Is that the same as a Roth IRA? I've contributed to it with post-tax money since it's inception so I'm assuming so.. but figured I'd ask people here who know better.
Its still a 401k. You'll be taxed on distributions. Don't contribute post tax dollars to it, open a Roth IRA and put those dollars there.
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Old 06-25-2021, 08:14 AM   #10258
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Quote:
Originally Posted by ThaVirus View Post
That reminds me: so I had a 401k through a previous job with T. Rowe Price. When I left that job, I stayed with T. Rowe Price and now it's labelled as a Rollover 401k.

Is that the same as a Roth IRA? I've contributed to it with post-tax money since it's inception so I'm assuming so.. but figured I'd ask people here who know better.
I'm 95 percent sure that's different. If it went through your employer it likely wasn't a Roth then, so unless you specifically converted it (paying some extra taxes in the process), it's not a Roth now.

If you're contributing post-tax dollars and it's not a Roth, you should be deducting those contributions on your tax forms.
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Old 06-25-2021, 08:23 AM   #10259
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Quote:
Originally Posted by eDave View Post
It's still a 401K.
Quote:
Originally Posted by Chazno View Post
Its still a 401k. You'll be taxed on distributions. Don't contribute post tax dollars to it, open a Roth IRA and put those dollars there.
Quote:
Originally Posted by Rain Man View Post
I'm 95 percent sure that's different. If it went through your employer it likely wasn't a Roth then, so unless you specifically converted it (paying some extra taxes in the process), it's not a Roth now.

If you're contributing post-tax dollars and it's not a Roth, you should be deducting those contributions on your tax forms.
Mother****er! Sounds like I ****ed myself a bit.

Thanks, guys.
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Old 06-25-2021, 08:23 AM   #10260
DaFace DaFace is offline
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Quote:
Originally Posted by ThaVirus View Post
That reminds me: so I had a 401k through a previous job with T. Rowe Price. When I left that job, I stayed with T. Rowe Price and now it's labelled as a Rollover 401k.

Is that the same as a Roth IRA? I've contributed to it with post-tax money since it's inception so I'm assuming so.. but figured I'd ask people here who know better.
As others said, it's still a 401k. They probably just change the title in your account to reflect that it's no longer associated with your previous employer.

You can either just leave it alone or roll it over to a different type of retirement account. I'd be a little cautious about continuing to contribute to it without talking to T. Rowe Price about it, though. I'm not sure what the contribution rules are for an orphaned account like that.
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