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12-19-2023, 08:39 PM | #13651 |
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I'm not doing a backdoor Roth, but I'm planning to do some Roth conversions, and I discovered something weird.
I'm 60, and working part-time now. My wife has also been doing some part-time stuff. When you add in dividends and some other income, our marginal tax rate is not low enough to warrant doing conversions this year. In another year or so, my income and tax bracket will tank as my wife and I completely stop working. It'll stay that way until I'm 69. At that point, my wife will be getting Social Security and our Required Minimum Distributions will kick in. Then my Social Security will kick in the following year. So our marginal tax rate will jump up to about the same level that it is now. I've always had the impression that my tax bracket would decline in retirement, but it'll only decline for about 8 years. So I have to do a lot of tax maneuvering during those eight years because it's my best shot.
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12-19-2023, 08:46 PM | #13652 | |
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Quote:
I've become pretty diversified, and for the most part the "Magnificent Seven" has driven a lot of my returns. I'm doing okay on other stocks, but if I hadn't been invested in the Magnificent Seven I'd be far to the lesser in my balances. At some point they have to slow down and the non-tech stocks should have a run, but it seems like mixing the two is a good tradeoff. I've got probably 20 to 25 percent of my money in the Magnificent Seven, which I think is underweighted compared to the major indices. They've done great, but it's kind of scary to me to have too much in a few stocks so I'm slightly whittling them down now.
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12-19-2023, 08:53 PM | #13653 | |
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12-19-2023, 09:17 PM | #13654 | |
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What am I missing on the tax burden of a MBDR? My understanding is that the money goes in post-tax, but the growth is untaxed at cashout. So, instead of putting money into the market today and being taxed on growth, that same money could go into a MBDR and come out tax-free. Am I wrong there? |
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12-19-2023, 09:20 PM | #13655 | ||
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12-25-2023, 09:33 AM |
Hog's Gone Fishin |
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01-01-2024, 12:29 PM | #13656 | |
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Moved a bit of money over to my IRA account. I won't be able to max it until money frees up later this month. |
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01-01-2024, 12:40 PM | #13657 |
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I know a little about investing…just a little though. The market changed my life 18 years ago and it continues to pay me dividends today (no pun intended).
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01-01-2024, 07:42 PM | #13658 |
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Time for my annual investing review, and it’s good news this year. If every year was like this, I would eventually buy my own island.
Total net worth up by 22.3 percent. Total return on liquid investments up by 30.0 percent. The difference between the two is that my house value decreased notably in 2023, according to Zillow estimates. Interest rates being high was not good for prices. But hey, it’s not like I’m planning to sell any time soon. In terms of liquid investments, I’m not adjusting for purchases or sales. I’m just looking at totals that include those. I don’t make big moves at all, though. I’m pretty much a buy and hold with tiny adjustments. The returns of my top ten holdings at the beginning of the year: GOOG 57.1% MSFT 57.8% AMZN 77.0% AAPL 54.4% NVDA 246.0% CVX -10.2% IHI 3.1% BX 74.5% AMD 130.3% FTANX 9.3% At the beginning of the year, these ten holdings were 23.5 percent of my investment holdings. My returns were spectacular with 7 of the 10 going up more than 50 percent. Pretty freaking amazing. I had some other big winners over the year, so my top ten at the end of the year changed a bit as some other stocks grew. I’m a little more concentrated now as my top ten are now 24.9 percent of my holdings. You’ll see a lot of “Magnificent Seven” on this list. NVDA 246,0% GOOG 57.1% MSFT 57.8% AMZN 77.0% AAPL 54.4% AMD 130.3% BX 74.5% PSX 34.9% QCOM 37.1% NVO 51.6% In short, my three year-starting holdings that weren’t up 50 percent dropped off my top ten list, replaced by other holdings that had great years. CVX, IHI, and FTANX fell off the top ten, replaced by PSX, QCOM, and NVO. NVDA is a big story, shooting up to become my largest holding, while AMD moved up from #9 to #6. However, I’ve been buying CDs like crazy, and collectively they now represent 19.2 percent of my holdings, up from about 5.6 percent last year. With an average annual return of 5.2 percent, they’re going to be my anti-anxiety strategy for the next few years. Even if they underperform the market the next few years, they’re above my needed rate of return, and if there’s a down market they’re going to prop it up quite well. My top ten stocks in terms of returns totaled 11.2 percent of my holdings at the end of the year, and all were up more than 100 percent. At the beginning of the year, they were 6.5 percent. I let the winners ride, and it was awesome. ANF (Abercrombie & Fitch) has had an astounding run. I've owned it for a long time and I read a few years ago when the stock was down that they were making great long-term decisions that would have an impact eventually. They were right. You’ll see two cruise lines on the list. I rode them all the way down in 2020, so I’m still down on CUK, but believe it or not, I’m back to my 2020 level on RCL. TSLA has been a wild ride. I’m massively up on it from my purchase price, though I’m down from my peak a couple of years ago. I’m still up roughly 600 percent overall on TSLA. I have to call out HCI, too – it’s a home insurance company that’s done well for me for years. Most of these are above my dollar limit for buying more, so I’m just holding. A few still have room for buying more, and I’ve been adding tiny amounts to them. ANF 273.8% NVDA 246.0% META 183.8% RCL 165.8% CRWD 147.2% CUK 137.8% AMD 130.3% TSLA 129.9% HCI 122.4% PANW 113.0% My bottom ten stocks in terms of returns totaled 1.8 percent of my holdings at the end of the year. At the beginning of the year, they were 4.4 percent. One thing I was pretty good at this year was not chasing losers. I’ve given up on SILC and RMCF and am selling them off. FF is on thin ice, but I’m waiting since they had a huge one-time dividend last year that would get them to breakeven. It would be nice if something similiar will happen soon, but I'm losing hope. I stayed too late at the MRNA & PFE party, so I’m just holding them. ALB is a past big winner that had a drawback due to some international stuff. If I was a gambler I might buy more MPW, but I’m not a gambler. It’s my biggest dollar disaster the past couple of years. It was a great low-risk stock until suddenly it became a high-risk stock. SILC -57.5% MPW -57.4% MRNA -44.4% PFE -43.8% ALB -32.6% FF -29.6% YUMC -24.8% IFF -23.4% GIS -21.7% RMCF -18.5%
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01-01-2024, 08:24 PM | #13659 |
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Great analysis, Rainman! You beat the index which is hard to do in an up year. Great ****ing job, you hit some big winners.
My total investment accounts were up 25% for the year, which sits right about at the index. |
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01-01-2024, 08:59 PM | #13660 |
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Huh. I had no idea Abercrombie boarded a rocket ship.
WTF did they do so right? Go to an all-internet setup or something? I looked on their website, and it sure looks like a bunch of generic overpriced young people stuff. That's ****ing incredible. Well done on that one. That wasn't even in the neighborhood of my radar. |
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01-01-2024, 09:11 PM | #13661 | |
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I was trying to find my summary last year, and was pretty sure I'd done it, but I don't see it. Maybe I was too depressed. I figured I was mostly just getting back last year's losses, but it looks like last year I was only down 11 percent by year end. That's way better than I thought. So 2023 really put me ahead of the game.
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01-01-2024, 09:14 PM |
Hog's Gone Fishin |
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01-01-2024, 09:30 PM | #13662 | |
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I don't remember how long ago he left, but it helped that they got rid of a moronic CEO. The guy flat-out said that they sized their clothes so that overweight people couldn't buy them, because they wanted to be the brand that only cool people wore. Now, maybe that's a viable strategy and maybe it isn't, but you sure as heck don't tell the public about it. It caused a big kerfluffle and the brand started going down the tubes. A new CEO came in who is apparently very knowledgeable and well regarded, and she reversed it and made the changes that are now well regarded. Heh. Wikipedia has the quote that got the old CEO fired. That's why we hire good-looking people in our stores. Because good-looking people attract other good-looking people, and we want to market to cool, good-looking people. We don't market to anyone other than that. ... In every school there are the cool and popular kids, and then there are the not-so-cool kids. Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don't belong [in our clothes], and they can't belong. Are we exclusionary? Absolutely.
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01-01-2024, 09:34 PM | #13663 |
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If 2024 is better than 2023, I'll be able to buy my own fork and spoon. No more ordering Chinese just to get the chopsticks.
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01-04-2024, 03:02 PM |
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01-06-2024, 05:07 PM | #13664 |
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I hadn't seen this anywhere and thought it was pretty interesting.
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01-18-2024, 02:55 PM | #13665 |
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So I have a $200,000 error in my favor right now, or kind of.
I bought a $2,000 CD a while back, which was 2 shares at $1,000 each. My portfolio total is correct, but when I drill into individual investments, my fixed income total is really high even though the overall total adds up. After some investigation, it's showing that I own 200 shares at $1,000 each. I like that interest accrual. I assume it'll get fixed soon, but it's kind of tempting to sell it all off.
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