The Rokslide Stock Traders Thread

[UpNorth89]

So many older guys at work complain about working too much overtime as it all goes to taxes. I try and explain taxes to them every time, but it's like talking to someone that is unwilling to comprehend anything other than what they "know."

I hear this all the time from those who dislike overtime. Every job I've had I've worked overtime with paychecks substantially larger because of jt.

 

[CorbLand]

So many older guys at work complain about working too much overtime as it all goes to taxes. I try and explain taxes to them every time, but it's like talking to someone that is unwilling to comprehend anything other than what they "know."

Back when I was hourly and could get overtime, the goal was overtime by Thursday morning because thats when I got paid what I was really worth.

 

[Jmort1754]

As far as overtime goes.

Once I hit 48 hours the reward doesn't outweigh the BS.

 

[signing off]

I'm a different breed than the general population. The group here will relate.
As the annual company bonus was coming due, I maxed my 401k while others were turning theirs off. And adjusting tax withholding to zero also!!!
Broke azz people just HAD to have it in their pocket.

 

[Throwin Darts]

So many older guys at work complain about working too much overtime as it all goes to taxes. I try and explain taxes to them every time, but it's like talking to someone that is unwilling to comprehend anything other than what they "know."

A friend of mine turned down a small raise “because I didn’t want to jump into a higher tax bracket”. I just shook my head


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[fmyth]

VOO
VGT
AAPL
GOOGL

Some that I may hold until I retire or sell
FBTC
MSTR
PSX
MPW

My Roth is 92% FBTC and 8% MSTY.

 

[MountainTracker]

My Roth is 92% FBTC and 8% MSTY.

Wish I could do that. I’m in BTCFX, which I saw really good gains last year and the same so far this year.


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[fmyth]

What’s the plan for those of you guys holding MSTY? I recently opened an individual fidelity account and put some money into a couple stocks mentioned here and just curious the plan of those with MSTY.

I am effectively retired with no pension, too young for SS and can't access my IRA for 2 1/2 years. I had enough cash set aside to make it. I decided to invest 1/3 of that cash in MSTY. The projected dividend that is paid out 13 times a year will cover my monthly living expenses.

 

[stevewes2004]

I am effectively retired with no pension, too young for SS and can't access my IRA for 2 1/2 years. I had enough cash set aside to make it. I decided to invest 1/3 of that cash in MSTY. The projected dividend that is paid out 13 times a year will cover my monthly living expenses.

Way to go


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[CorbLand]

My Roth is 92% FBTC and 8% MSTY.

My Trad is heavy MSTR and FBTC.

 

[Baddog]

When I look at stuff like msty I don’t understand how to read what the projected dividend is. Can someone explain this part to me?

 

[fmyth]

When I look at stuff like msty I don’t understand how to read what the projected dividend is. Can someone explain this part to me?

I look at what has been paid out over the last 11 months and calculate the average.

MSTY, MSTR Option Income ETF – YieldMax ETFs

www.yieldmaxetfs.com

 

[fmyth]

When I look at stuff like msty I don’t understand how to read what the projected dividend is. Can someone explain this part to me?

It's paid out like a dividend but technically it's a distribution. It is taxed like a short term dividend which means that it is taxed as income. The stock price of MSTR is very volatile which makes it particularly attractive to options traders. The fund managers of MSTY are trading options on MSTR stock. They keep .99% of the rev and distribute the remainder to shareholders 13 times a year. A portion of these distributions is a return of your principle investment and part is your share of the profit from the option trading profits. Roughly 1/2 of the payment you receive is considered taxable income and the remainder is a return of your investment and non taxable. On a 45k investment I expect to receive approx 45k over the next year (13 distributions). This will equal a 100% return on my investment in the first year. I will pay income taxes on the portion of this that was not a return of my original investment. This is an extremely risky investment and is not appropriate for most people.

 

[BigDog00]

So, lets say I have say 100 shares of MSTY. For Jan. it looks like the distribution was $2.279/share. So, for January I'd get a $227.9 distribution/dividend and I'd be taxed a portion of this? And each month it basically mirrors what MSTR does (which mirrors BTC??). Is this right?