Money Investing megathread extravaganza - Page 763

**DaFace** · 06:35 PM

A place to talk about investing stuff.

ghak99 · 09-17-2021, 01:32 PM

I'm behind, but it's an interesting discussion...

I'm about as anti only child as you can get. My father was one, and it shines through very very strongly in most of his life choices and living patterns even into his glory years. Nearly every other single child I know has the same issues and tendencies. It's quite the people watching topic.

I have one sibling and my parents lost a child, a boy, at birth. I often wonder how having an older brother would have change me. My sister and I are opposites in many ways and I have no doubt if she was an only child she would be one miserable bitch for anyone who crossed her path. She has 3 kids and when big life decisions come up she often calls me for my more level headed views. Not that she follows my opinion, but she knows what she gets when she calls and can weigh it on her own. I also invite her into some of my business dealings when needed because I know her approach and general attitude can be a benefit for everyone involved when it is needed. Being able to feed off each other and learn from our differences growing up has been a huge asset in life, no doubt about it.

I do not believe I have kids, so as of now our parents end of life situation should be rather simple even though there will be a rather large figure in the form of assets built over three generations at stake. Much to my surprise, she has matured to understand we grew up very financially poor and asset rich and she has put next to zero work and absolutely no money at risk into pushing the stack over the hump to where it is and you can tell it influences her input when such discussions rarely arise. There is something that we are going to disagree on, but the way her kids are maturing I believe it's going to work itself out without either of us arguing over it. I could be very wrong, but only time will tell.

I understand we're just one of a billion scenarios, but I can't envision how either of us would be being better off as people or financially if we were single siblings.

**lewdog** · 09-17-2021, 01:48 PM

Quote:

Originally Posted by KCUnited

Any thoughts on CHPT?

I've been out of EV stocks and am hesitant. Has it been beatdown enough to buy in?

You seem to be doing well. Nice work.

Hog's Gone Fishin · 09-17-2021, 02:07 PM

Quote:

Originally Posted by Hog's Gone Fishin

ILUS up another 21% today

27% again today

Hammock Parties · 09-17-2021, 03:28 PM

LCID beginning it's rise today. Should hit at least 30.

rydogg58 · 09-17-2021, 04:22 PM

I talked to my HR department today in regards to my life insurance. Turns out, I'm screwed unless I have a qualifying life event like marriage/divorce. They've had 2 open enrollment periods in the last 21 years, so I'm stuck with what I've got.

Talked to my wife and asked her if a 300k difference was worth a divorce. She's still not happy with me. Oh well, guess I'll have to look up private insurance.

**lewdog** · 09-20-2021, 05:29 AM

BLOODBATH!!!!

Hog's Gone Fishin · 09-20-2021, 08:27 AM

ILUS is killing it again today. I hope it holds. I probably just jinxed it.

Also bought some CYBL last week that is looking pretty good. Up 65% so far.

Thinking about dumping TWOH. Down 17%

And WHSI Down 33%

**Buehler445** · 09-20-2021, 08:35 AM

Quote:

Originally Posted by lewdog

BLOODBATH!!!!

FWIW, I got out of ADM and BG in the green. They outperformed the market in the timeframe I owned them by a few percentage points. Technically shouldn't have done it. It pushed through some resistance and set back, but I don't think it can overcome the momentum of the market as a whole.

I feel pretty good about it considering what the SPY QQQ and DIA look like in my account. Woof.

displacedinMN · 09-20-2021, 10:08 AM

Going to get killed today

Sent from my SM-G991U using Tapatalk

**lewdog** · 09-20-2021, 10:16 AM

Quote:

Originally Posted by displacedinMN

Going to get killed today

Sent from my SM-G991U using Tapatalk

Oh no, down a few percentage points from all time highs!!!

Oh Noez!!!!

stumppy · 09-20-2021, 10:17 AM

OUCH! Make it stop.

myselff77 · 09-20-2021, 10:40 AM

For those parents out there... Do you have a 529 account to save for college?
I'm in an interesting situation being in my early 40's before having kids (only 1). I currently have a Roth, but I'm not close to maxing it out. By the time my son is ready for college, I'll be 60 and in theory can tap into the Roth funds.

Is there any reason to put money into a 529 before maxing out my Roth IRA? From what I can tell, both are very similar, but the 529 can only be used for education otherwise there may be a penalty/tax hit to withdraw the funds.

Seems like I should focus more on the Roth given my age. If I'm not missing anything, it gives me the option of using that money for college bills for the little guy or still have the option to use the money for anything else, without penalty, if the college outlook changes 18 years from now. Anything I'm missing? Thoughts?

**Buehler445** · 09-20-2021, 10:55 AM

Quote:

Originally Posted by myselff77

For those parents out there... Do you have a 529 account to save for college?
I'm in an interesting situation being in my early 40's before having kids (only 1). I currently have a Roth, but I'm not close to maxing it out. By the time my son is ready for college, I'll be 60 and in theory can tap into the Roth funds.

Is there any reason to put money into a 529 before maxing out my Roth IRA? From what I can tell, both are very similar, but the 529 can only be used for education otherwise there may be a penalty/tax hit to withdraw the funds.

Seems like I should focus more on the Roth given my age. If I'm not missing anything, it gives me the option of using that money for college bills for the little guy or still have the option to use the money for anything else, without penalty, if the college outlook changes 18 years from now. Anything I'm missing? Thoughts?

I'd stick it in the Roth. It is far less restrictive. In your case, you might look at a Traditional after you max out your Roth. That will give you a tax benefit in the short term and have similar outcomes at college time, although the withdrawls would be taxable.

I looked into a 529 plan and concluded the same thing.

**petegz28** · 09-20-2021, 12:44 PM

Quote:

Originally Posted by myselff77

For those parents out there... Do you have a 529 account to save for college?
I'm in an interesting situation being in my early 40's before having kids (only 1). I currently have a Roth, but I'm not close to maxing it out. By the time my son is ready for college, I'll be 60 and in theory can tap into the Roth funds.

Is there any reason to put money into a 529 before maxing out my Roth IRA? From what I can tell, both are very similar, but the 529 can only be used for education otherwise there may be a penalty/tax hit to withdraw the funds.

Seems like I should focus more on the Roth given my age. If I'm not missing anything, it gives me the option of using that money for college bills for the little guy or still have the option to use the money for anything else, without penalty, if the college outlook changes 18 years from now. Anything I'm missing? Thoughts?

Financial Planners generally will tell you not to use your retirement funds for a child's education. They would say to open the 529 and keep your Roth for you.

Chazno · 09-20-2021, 12:53 PM

Quote:

Originally Posted by petegz28

Financial Planners generally will tell you not to use your retirement funds for a child's education. They would say to open the 529 and keep your Roth for you.

I would say that is assuming you can fully fund the Roth. If you can only put away 6k a year, put it in the Roth. No reason to put 3k into 529 and 3k into Roth. If your kids decides not to go to college or gets scholarships you will end up losing money or finding alternate uses for it (grandkids, neices/nephews).

06-27-2016, 11:23 AM
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $26899	Investing megathread extravaganza A place to talk about investing stuff. Last edited by DaFace; 02-19-2021 at 06:35 PM..
Posts: 52,558

09-17-2021, 01:32 PM	#11431
ghak99 MVP Join Date: Jan 2007 Location: Missouri Casino cash: $-67750	I'm behind, but it's an interesting discussion... I'm about as anti only child as you can get. My father was one, and it shines through very very strongly in most of his life choices and living patterns even into his glory years. Nearly every other single child I know has the same issues and tendencies. It's quite the people watching topic. I have one sibling and my parents lost a child, a boy, at birth. I often wonder how having an older brother would have change me. My sister and I are opposites in many ways and I have no doubt if she was an only child she would be one miserable bitch for anyone who crossed her path. She has 3 kids and when big life decisions come up she often calls me for my more level headed views. Not that she follows my opinion, but she knows what she gets when she calls and can weigh it on her own. I also invite her into some of my business dealings when needed because I know her approach and general attitude can be a benefit for everyone involved when it is needed. Being able to feed off each other and learn from our differences growing up has been a huge asset in life, no doubt about it. I do not believe I have kids, so as of now our parents end of life situation should be rather simple even though there will be a rather large figure in the form of assets built over three generations at stake. Much to my surprise, she has matured to understand we grew up very financially poor and asset rich and she has put next to zero work and absolutely no money at risk into pushing the stack over the hump to where it is and you can tell it influences her input when such discussions rarely arise. There is something that we are going to disagree on, but the way her kids are maturing I believe it's going to work itself out without either of us arguing over it. I could be very wrong, but only time will tell. I understand we're just one of a billion scenarios, but I can't envision how either of us would be being better off as people or financially if we were single siblings.
Posts: 8,711

09-17-2021, 03:28 PM	#11434
Hammock Parties I'll be back. Join Date: Nov 2002 Casino cash: $2710478	LCID beginning it's rise today. Should hit at least 30. __________________ Chiefs game films
Posts: 289,102

09-17-2021, 04:22 PM	#11435
rydogg58 Veteran Join Date: Oct 2002 Location: Bismarck Casino cash: $348196	I talked to my HR department today in regards to my life insurance. Turns out, I'm screwed unless I have a qualifying life event like marriage/divorce. They've had 2 open enrollment periods in the last 21 years, so I'm stuck with what I've got. Talked to my wife and asked her if a 300k difference was worth a divorce. She's still not happy with me. Oh well, guess I'll have to look up private insurance.
Posts: 1,395

09-20-2021, 05:29 AM	#11436
lewdog Mod Team Join Date: Sep 2011 Location: Valley of the hot as **** Casino cash: $-68100	BLOODBATH!!!!
Posts: 46,154	1 0

09-20-2021, 08:27 AM	#11437
Hog's Gone Fishin Fish are scared of me Join Date: Nov 2001 Casino cash: $-159523	ILUS is killing it again today. I hope it holds. I probably just jinxed it. Also bought some CYBL last week that is looking pretty good. Up 65% so far. Thinking about dumping TWOH. Down 17% And WHSI Down 33%
Posts: 40,645

09-20-2021, 10:08 AM	#11439
displacedinMN It was not a fair catch Join Date: Aug 2012 Location: Correcting papers Casino cash: $942630	Going to get killed today Sent from my SM-G991U using Tapatalk __________________ #investigatecarlcheffers
Posts: 38,521

09-20-2021, 10:17 AM	#11441
stumppy New and Improved Join Date: Mar 2002 Location: Springfield, Mo. Casino cash: $-491410	OUCH! Make it stop. __________________ “As a nation, we can endure damaging policies for a four-year term. But we cannot survive a president willing to terminate our Constitution”
Posts: 22,009

09-20-2021, 10:40 AM	#11442
myselff77 Starter Join Date: Aug 2019 Casino cash: $2380000	For those parents out there... Do you have a 529 account to save for college? I'm in an interesting situation being in my early 40's before having kids (only 1). I currently have a Roth, but I'm not close to maxing it out. By the time my son is ready for college, I'll be 60 and in theory can tap into the Roth funds. Is there any reason to put money into a 529 before maxing out my Roth IRA? From what I can tell, both are very similar, but the 529 can only be used for education otherwise there may be a penalty/tax hit to withdraw the funds. Seems like I should focus more on the Roth given my age. If I'm not missing anything, it gives me the option of using that money for college bills for the little guy or still have the option to use the money for anything else, without penalty, if the college outlook changes 18 years from now. Anything I'm missing? Thoughts?
Posts: 559