Financial advisor???

[sdsrfr]

wait, you’ve been picking on the YOLO board crew but you haven’t a hint of a clue on what to do with your idle cash?

You realize we can YOLO bc of our diamond hands… to the MOON!!!

buying some albums and holding will do better than your $20 @ 0.02% interest. Shoots, parking it in a Total US Stockmarket ETF with 2% dividends will do you well by comparison…. even with fees.

This is not financial advice.

 

[Waterlogged05]

get heavily into options trading and then you won't have a house to worry about.

JK don't do that.

Start with various index funds.

https://www.bogleheads.org/wiki/Three-fund_portfolio

 

[bluemarlin04]

get heavily into options trading and then you won't have a house to worry about.

JK don't do that.

Start with various index funds.

https://www.bogleheads.org/wiki/Three-fund_portfolio

If you’re trading options might as well go all in and go on margin calls too

 

[grapedrink]

Was not fun for a lot of people from mid-2020 through 2014...there went my shot at extra early retirement.

50 yrs of the S & P 500

View attachment 113223





I like it when people state their positions on threads like this. When there is some skin the game is more interesting to talk about.

This was said in 2018 about CVX:

"a “compelling entry point” for investors"


View attachment 113224

Now, it is almost three years later and the chart says:

View attachment 113225

Their dividend are good, but if you just bought today, you missed the $1.34 June 10 outlay, oh well, Sept 10 isn't that far off.


View attachment 113226


In any case, good luck and hope you do well with this.

When we have another major correction/dip is when I will probably load up on some dividend stonks

 

[PRCD]

Also follow my trades for the low, low price of $199.67/month.

 

[rts265]

When we have another major correction/dip is when I will probably load up on some dividend stonks

Still mostly in cash. Feel like I’ve been missing out this last year but being patient. Ive bought some sdow, sqqq and vxx

 

[kelpcutter]

I used to keep a larger cash reserve. Now mostly low costs index funds and target date funds. Set it up and forget it. Not getting rich, but doing better than when I try to actively manage a portfolio on my own.

I do have a fiduciary financial advisor that I trust who forces me to be more disciplined and follow through on financial plans and goals.

 

[kelpcutter]

Get a Roth IRA sooner rather than later. Various low cost (management fee related) ETFs are sensible option as are some mutual funds. Can't take out till, what 59.5 yrs old, so you better not need it until then. Think maximum allotment in 2021 is $6K. Then again, you can make your 'own' index fund of selected stock, but, it will be less diversified with only $6K...which can go your way or not.

I thought one of the benefits of a ROTH was that you can pull out your principal (after tax money) with no penalty, if you need to. Can't pull out your earnings (before tax money) without penalty.

 

[grapedrink]

I thought one of the benefits of a ROTH was that you can pull out your principal (after tax money) with no penalty, if you need to. Can't pull out your earnings (before tax money) without penalty.

Yes this is correct, which arguably makes it a form of an emergency fund, as long as your financial catastrophe doesn't coincide with everyone else's

 

[bluemarlin04]

I thought one of the benefits of a ROTH was that you can pull out your principal (after tax money) with no penalty, if you need to. Can't pull out your earnings (before tax money) without penalty.

You can. But you won’t be getting interest and earnings on it which is kind of the point of it to begin with

 

[Waterlogged05]

I will say there's so much to learn, so many of my friends just hopped into investing on this long bull market run because it was super easy to pick random tech stocks and keep winning.

I've been studying for around a year now and feel like an adult learner who is asking reddit if my puddle jumper 5'10" will handle heaving points just as well as a pyzel

 

[potato-nator]

crash coming.
money printer done going brrrr.

 

[Waterlogged05]

still mad I didn't pick up Nvdia

 

[afoaf]

did anyone say to set up a ROTH IRA?

even if you make over the max amount, you can still get one set up

this is where a big institution advisor is good...they'll do all the stupid paperwork stuff
for you for free

you should max your post-tax ROTH just like you max your pre-tax 401k...and definitely
don't stop at the match...or at least have another pre-tax account set up so you can
make your max annual contribution

did you guys read the article on Peter Thiel and his FIVE BILLLLLLION dollar ROTH IRA

ALL. TAX. MTHRFKN. FREE

Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank

Roth IRAs were intended to help average working Americans save, but IRS records show Thiel and other ultrawealthy investors have used them to amass vast untaxed fortunes.

www.propublica.org

this article is awesome...it made me rethink about how I invest my ROTH money

the max annual contribution is kind of low, so if you can put it in to stuff with a chance of
big multipliers, you can really juice the tax-free gains

bang bang!

 

[grapedrink]

did anyone say to set up a ROTH IRA?

even if you make over the max amount, you can still get one set up

this is where a big institution advisor is good...they'll do all the stupid paperwork stuff
for you for free

you should max your post-tax ROTH just like you max your pre-tax 401k...and definitely
don't stop at the match...or at least have another pre-tax account set up so you can
make your max annual contribution

did you guys read the article on Peter Thiel and his FIVE BILLLLLLION dollar ROTH IRA

ALL. TAX. MTHRFKN. FREE

Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank

Roth IRAs were intended to help average working Americans save, but IRS records show Thiel and other ultrawealthy investors have used them to amass vast untaxed fortunes.

www.propublica.org

this article is awesome...it made me rethink about how I invest my ROTH money

the max annual contribution is kind of low, so if you can put it in to stuff with a chance of
big multipliers, you can really juice the tax-free gains

bang bang!

Yeah it's mentioned a few times, try to keep up
I tend to take riskier plays with my Roth allocation in hopes of hitting a home run with tax free gains. However iirc you will still pay state income tax on distributions, so get that shell company set up in Tuvalu or St Kitts & Nevis before retiring

 

[SurfFuerteventura]

Coke and whores! FTW.

 

[Havoc]

mutual funds are notorious for transaction fees

 

[_____]

I'm about 60/40 with ETFs vs equities in my IRA.
RFI, GDV and NAC have been good long .
BX, GM and CSCO have been good long.

 

[Mr Doof]

I thought one of the benefits of a ROTH was that you can pull out your principal (after tax money) with no penalty, if you need to. Can't pull out your earnings (before tax money) without penalty.

I think so, but haven't considered doing this. I like the idea of scoring big, pulling the principle, and coasting on the bank's money gains, but I'm not that lucky.

did anyone say to set up a ROTH IRA?

even if you make over the max amount, you can still get one set up

this is where a big institution advisor is good...they'll do all the stupid paperwork stuff
for you for free

you should max your post-tax ROTH just like you max your pre-tax 401k...and definitely
don't stop at the match...or at least have another pre-tax account set up so you can
make your max annual contribution

did you guys read the article on Peter Thiel and his FIVE BILLLLLLION dollar ROTH IRA

ALL. TAX. MTHRFKN. FREE

Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank

Roth IRAs were intended to help average working Americans save, but IRS records show Thiel and other ultrawealthy investors have used them to amass vast untaxed fortunes.

www.propublica.org

this article is awesome...it made me rethink about how I invest my ROTH money

the max annual contribution is kind of low, so if you can put it in to stuff with a chance of
big multipliers, you can really juice the tax-free gains

bang bang!

That Peter Thiel score is both enviable and......very likely not what was envisioned by the original writers of the Roth IRA tax law.

He put $5000 into a Roth IRA then used it to buy pre-IPO shares at like 0.01 dollars per share. This is hardly available to 98% of us.

I get that our system of governance is "if it ain't against the written rules, you can do it", but at the same time, well, I don't know. It is like playing poker and then someone plays a joker and says, "Well, we didn't say you can't have a wild card," and suddenly my four of a kind is undone by a 5 of a kind.

As for being able to get pre-IPO shares, some friends of mine all have $10K to "invest" in Netscape when it was still being formed from MOSAIC. One of us was childhood friends of the venture capitol backing Netscape so he brought up the "Hey, if we kick in $100K or so, can we get IPO shares/options? What do you say old buddy, old pal?"

"You need (needed?) 20 times that a few years ago. Just buy on opening day. Should open at 15."

Couldn't get in on the first day until $50, and i didn't pull the trigger. Later went up to $75 or so. Kicked myself. Then came back down to close in high $50s. Felt better.

 

[bluemarlin04]

mutual funds are notorious for transaction fees

Vanguard model is too have low fees. A standard fee for Vanguard is around .03-.05 where some other funds are around .5-.8