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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

Last edited by DaFace; 01-24-2018 at 03:49 PM..
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Old 01-29-2018, 11:46 AM   #1651
wheeler08 wheeler08 is offline
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Originally Posted by wutamess View Post
This! and HTF you make $20K off of $200? What'd you invest in?
Hell! I have $200 for you to invest for me.
Bitcoin!

jk

I rolled over a 401k into an IRA. Sorry if I didn't make that clear.
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Old 01-29-2018, 01:16 PM   #1652
lewdog lewdog is offline
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Recommendations on where to open a 529 plan?
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Old 01-29-2018, 01:18 PM   #1653
wutamess wutamess is offline
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Quote:
Originally Posted by wheeler08 View Post
Bitcoin!

jk

I rolled over a 401k into an IRA. Sorry if I didn't make that clear.
I get the rollover but you said you turned $200 into $20K in some months. How? Or am I not understanding something? NM. I think I see what you're saying. the IRA gained $20K with what was already in there and you added only $200 for the year. Got it.

It's worded like you just took $200 and made it into $20K in a couple of months.
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Old 01-29-2018, 01:30 PM   #1654
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by wutamess View Post
This! and HTF you make $20K off of $200? What'd you invest in?
Hell! I have $200 for you to invest for me.
Did you hang in with GBTC ?
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Old 01-29-2018, 01:59 PM   #1655
wheeler08 wheeler08 is offline
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Recommendations on where to open a 529 plan?
I have 2 with Raymond James
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Old 01-29-2018, 02:07 PM   #1656
DaFace DaFace is offline
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Quote:
Originally Posted by lewdog View Post
Recommendations on where to open a 529 plan?
You may want to check into whether your state offers its own 529. You can sometimes get extra benefits by using theirs.
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Old 01-29-2018, 02:12 PM   #1657
wutamess wutamess is offline
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Originally Posted by Hog's Gone Fishin View Post
Did you hang in with GBTC ?
Yup. My 15 are now 1365
After seeing some vids about how Futures are going to drive the price of BTC up shortly after 1/26, I'm good with staying in. May buy some more on a dip into the $1400 if that happens but for now, I'm good where I'm at.
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Old 01-29-2018, 04:00 PM   #1658
lewdog lewdog is offline
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Originally Posted by DaFace View Post
You may want to check into whether your state offers its own 529. You can sometimes get extra benefits by using theirs.
Dang, you’re right. $4000 tax deduction on our state taxes through this.

https://www.fidelity.com/go/529-ariz...kDYQ&gclsrc=ds
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Old 01-29-2018, 04:01 PM   #1659
lewdog lewdog is offline
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Hog, when we selling X Stock?!?!
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Old 01-29-2018, 04:24 PM   #1660
Hog's Gone Fishin Hog's Gone Fishin is offline
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Hog, when we selling X Stock?!?!
The next 2 days will be interesting. Trumps state of the Union speech should boost infrastructure stocks and then 1/31 the earnings report for X makes me nervous. I'm thinking of just putting a stop loss at 38.25. If we make it though the earnings report it should move on up some more since it finally broke $40.

If the stop loss gets triggered I may move my X money to NUE or STLD and stay in steel. I already own both those anyway. Still thinking GE needs to be bought at some point. But I'm thinking $13. When they spin off their trash sectors this year it could gain 100% over 6 months. IMO.

X seems like its been moving slow but my chart says it's up 16.94% since Jan 1.
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Last edited by Hog's Gone Fishin; 01-29-2018 at 04:33 PM..
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Old 01-29-2018, 04:52 PM   #1661
lewdog lewdog is offline
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Quote:
Originally Posted by Hog's Gone Fishin View Post
The next 2 days will be interesting. Trumps state of the Union speech should boost infrastructure stocks and then 1/31 the earnings report for X makes me nervous. I'm thinking of just putting a stop loss at 38.25. If we make it though the earnings report it should move on up some more since it finally broke $40.

If the stop loss gets triggered I may move my X money to NUE or STLD and stay in steel. I already own both those anyway. Still thinking GE needs to be bought at some point. But I'm thinking $13. When they spin off their trash sectors this year it could gain 100% over 6 months. IMO.

X seems like its been moving slow but my chart says it's up 16.94% since Jan 1.
Me and you are one. Putting a stop loss order for $38 here as well. Great minds think alike!

I like to see it hit $44 before I sell my shares.
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Old 01-29-2018, 04:58 PM   #1662
lewdog lewdog is offline
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Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy?
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Old 01-29-2018, 05:08 PM   #1663
Buehler445 Buehler445 is offline
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Originally Posted by lewdog View Post
Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy?
Wrong-o.


Short term capital gains are taxed as ordinary income. Long Term Capital Gains have their own brackets based on the brackets your Taxable income falls under. It's stupid, yes, but most likely it is whatever your ordinary tax rate is vs probably 15%.

https://www.fool.com/taxes/2017/12/1...s-in-2018.aspx
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Old 01-29-2018, 05:09 PM   #1664
Hog's Gone Fishin Hog's Gone Fishin is offline
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Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy?
I'm not aware of that. are you saying your tax liability drops to 15% if you own them 1 year ??
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Old 01-29-2018, 05:16 PM   #1665
Buehler445 Buehler445 is offline
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I'm not aware of that. are you saying your tax liability drops to 15% if you own them 1 year ??
It changes from short term to long term cap gains. See the link I posted.
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