The Rokslide Stock Traders Thread

[2531usmc]

I think this is part of transforming X (formerly twitter) into an everything app. News, shopping, banking, stock trading, etc. sort of an Amazon for everything.

Love him or hate him, but I would never bet against him

 

[eddielasvegas]

Risk-free 6% hell yeah

FDIC insured too. X will get some of my money at 6% and FDIC insured.


Eddie

 

[Ucsdryder]

FDIC insured too. X will get some of my money at 6% and FDIC insured.


Eddie

Kind of seems like a no brainer. Especially in the world today where the market is a crap shoot. 6% guaranteed up to 250k. Seems too good to be true but sign me up.

 

[Poser]

The US Navy informed shipping companies that escorts through the Strait of Hormuz are “not possible at this time”

https://www.reddit.com/r/worldnews/comments/1rq8eus/us_navy_tells_shipping_industry_hormuz_escorts

There are abundant Rumors that Iran is currently mining the strait. And a cargo ship was hit by a “projectile” and the crew abandoned ship. There are 2 shipping lanes, each are about 2 miles wide. A naval escort would require at least 2 ships each, but likely 3 with one of them being a minesweeper.

It would seem that this may be entirely impractical from a logistics standpoint. If a container ship or a tanker sinks in the strait, it could potentially lock a shipping up for quite some time, slowing or blocking traffic entirely. If there is an oil spill from a tanker, the entire strait would likely have to be closed.

In short: uncertain if the White House claims of the conflict being over “very soon” is going to have a meaningful or lasting positive effect on the stock market and an operational withdrawal at this point or at some point in the near future may not guarantee normal shipping logistics can resume. Since the markets don’t like uncertainty, don’t expect resolution anytime soon.

 

[Beendare]

Heres a horrible story and a lesson for everyone to learn self sufficiency in investing and understanding your finances;

Kathy Ireland made famous by Sports illustrated was once worth $420 Million is broke. She is saying she was scammed by her managers.....Fox story HERE

 

[eddielasvegas]

Heres a horrible story and a lesson for everyone to learn self sufficiency in investing and understanding your finances;

Kathy Ireland made famous by Sports illustrated was once worth $420 Million is broke. She is saying she was scammed by her managers.....Fox story HERE

Why is she even questioning this?

Kathy, after reading the article, of all people , knows god works in mysterious ways and he has a plan for her and her family. Prayer, or OF, will restore her wealth I am sure of it.


Eddie



P.S. Nobody will ever watch your kids or your money like you will. It seems the list is long for people not grasping that reality.

 

[PredatoronthePrairie]

If anyone is financial advisor on here. I had a basic question I wanted to ask if you could just send me a pm. Thz

 

[Johnny Tyndall]

6% FDIC insured money is nuts. I'd read the fine print carefully on that before making any big moves.

 

[LFC911]

6% FDIC insured money is nuts. I'd read the fine print carefully on that before making any big moves.

I'm guessing they're sharing the profits of the CC...they're getting your money to loan CC users at 29% and paying you 6% and making 23%, minus expenses?!?

 

[LFC911]

If anyone is financial advisor on here. I had a basic question I wanted to ask if you could just send me a pm. Thz

why not post the question and get everyones uneducated or unprofessional opinion?

 

[PredatoronthePrairie]

why not post the question and get everyones uneducated or unprofessional opinion?

Cause it's probably one of those no question is a dumb question, but it is dumb, Ha.

But F it. Here goes. Have a roth IRA through work that I contribute alot into. Wanted to get into investing on the side more or less to learn more about it. And have something to dip into if I decided to retire early. So I opened a standard brokerage account. Then learned I could have another roth Ira in additional to the one at work. Alot of my side investing is into long term dividend etf and stocks. So it probably makes sense to have it in a roth vs standard. But also wanted a more liquid account that I'm not locked out of if the need arises.

And with 2 little kids. The idea of maxing out my 401, a roth ira and having a side brokerage is not a reality at the moment.

So what says the wkr's.

Cash out my brokerage and move it roth Ira. Or leave as is. And open a roth ira and start contributing into that instead.

 

[Poser]

Cause it's probably one of those no question is a dumb question, but it is dumb, Ha.

But F it. Here goes. Have a roth IRA through work that I contribute alot into. Wanted to get into investing on the side more or less to learn more about it. And have something to dip into if I decided to retire early. So I opened a standard brokerage account. Then learned I could have another roth Ira in additional to the one at work. Alot of my side investing is into long term dividend etf and stocks. So it probably makes sense to have it in a roth vs standard. But also wanted a more liquid account that I'm not locked out of if the need arises.

And with 2 little kids. The idea of maxing out my 401, a roth ira and having a side brokerage is not a reality at the moment.

So what says the wkr's.

Cash out my brokerage and move it roth Ira. Or leave as is. And open a roth ira and start contributing into that instead.

I'll kick things off here with my advice. Some other people probably know more and have better advice, but this is mine:

Q. Should you cash out the brokerage and move it, or leave it as is?

A. It depends entirely on your current capital gains.

Take a look at brokerage account and look at your "Unrealized Gains/Losses"

-If the account is at a loss: Sell the assets. You can claim the capital loss on your taxes, take the cash, and move it into your personal Roth IRA.

-If the account has a very small gain: Sell the assets. You will owe a tiny bit of capital gains tax next April, but it is most likely worth it to get the money into the tax-sheltered Roth IRA where dividends can then grow tax-free.

-If the account has massive gains: Do not sell it right now, as you will trigger a big taxable event. Just leave the money invested there, let it sit, and direct all of your future investing cash into your personal Roth IRA. There is a tradeoff here and that is the fact that these dividend gains in your brokerage account are tax inefficient, but the massive gains vs taxable event makes this the likely best option.

So, you may choose to sell some of it that is at a loss and/or minor gains and move it while keeping your your top gainers in place in the brokerage. Run the numbers on the capital gains/loss.

 

[PredatoronthePrairie]

^ Thz. Honestly the gains are peanuts at the moment. Just opened the brokerage in Jan.

 

[getcervid]

Cause it's probably one of those no question is a dumb question, but it is dumb, Ha.

But F it. Here goes. Have a roth IRA through work that I contribute alot into. Wanted to get into investing on the side more or less to learn more about it. And have something to dip into if I decided to retire early. So I opened a standard brokerage account. Then learned I could have another roth Ira in additional to the one at work. Alot of my side investing is into long term dividend etf and stocks. So it probably makes sense to have it in a roth vs standard. But also wanted a more liquid account that I'm not locked out of if the need arises.

And with 2 little kids. The idea of maxing out my 401, a roth ira and having a side brokerage is not a reality at the moment.

So what says the wkr's.

Cash out my brokerage and move it roth Ira. Or leave as is. And open a roth ira and start contributing into that instead.

Most people on here (I think) would give you an order of operations similar to the below. This is from the Money Guys. Their website and book dive into these 9 steps in more detail.


It sounds like you are using a Roth 401(k) through your employer.

Per the above, get that employer match on your 401(k), have some liquid cash available, knock out CC or other consumer debt that are at high interest rates, then compare that 401(k) plan to what you can invest in in a Roth IRA or if you have an HSA available as well. Some 401(k)'s have poor investment choices and/or high fees, so investing beyond the match may not always make sense.

Contributions to a Roth IRA are income restricted (kind of) and annual contributions are currently capped at $7500. You may pull out your contributions (your basis, but not your gains) penalty-free from a Roth IRA at any time. HSA's can be a great account to use for investing if you can afford to pay medical expenses out of pocket. You will have to do some researching to see what is available to you and what makes sense.

For most people looking to save for retirement, a Roth IRA comes before a brokerage account. Roth IRA in step 5, Brokerage likely in step 7 in the above. BUT, personal finance is personal. There are any number of reasons to skip or move the order of these steps around.

Edit: The above info from Poser is helpful. It occurs to me that I missed the heart of your question, which is what to do with the brokerage account. Cashing it out is a personal choice and depends on how much is in there, as well as other goals/tax implications etc. Whatever you do, consider the tax implications and report it correctly. It sounds like you are already leaning towards no longer contributing to the brokerage account, which seems like it will be the best course for you.

 

[Johnny Tyndall]

Posters above pretty much nailed it. I'll just add that they way I squared the circle is to keep most of my stocks in retirement accounts and some cash+bonds outside in case I need them. That gets me to my overall target stock/bond split and leaves a good chunk available if I need it.