Author Topic: New To Investing Thread  (Read 327145 times)

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Offline steve dave

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Re: New To Investing Thread
« Reply #4375 on: March 16, 2023, 10:30:47 AM »
That may be a bad situation for us if something happens to me...
My will attorney set up a bunch of crap and like "TO DO" lists if something happens to me (or both of us) that my wife (or trust executor) will put into effect as failsafes to make sure wife/kids are properly taken care of.  I really appreciated that.

I'll see your attorney's "TO DO" list and raise him my "shared google doc"

 :gocho:

Offline GregKSU1027

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Re: New To Investing Thread
« Reply #4376 on: March 16, 2023, 10:57:56 AM »
I just paid taxes to the IRS for the first time in my life. I have finally arrived.
Samesies and it rough ridin' sucks :th_twocents:
“He plays for Kansas State. He doesn't play for Will Howard University." -Chris Klieman 10/14/2023

Offline KITNfury

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Re: New To Investing Thread
« Reply #4377 on: March 17, 2023, 08:52:58 AM »
as a general rule if your "money person" is telling you what to invest in you should run away. if they're doing stuff like what Rusty describes you probably have a good one. if they ever say the words "whole life" or "annuity" or "the market is going to..." you should call the cops.

In my world, plenty of people use whole life for the "infinite banking" or the "be your own bank" thingamajig and they swear by it. Then there are others that say it's a terrible. So I'm always on the fence.
I once blew clove smoke in a guy's face that cut in front of me in the line to KJ's.

Online tdaver

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Re: New To Investing Thread
« Reply #4378 on: March 17, 2023, 11:03:49 AM »
I just paid taxes to the IRS for the first time in my life. I have finally arrived.
Samesies and it rough ridin' sucks :th_twocents:

First time first time or first time paying extra after filing?

Offline BW

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Re: New To Investing Thread
« Reply #4379 on: March 17, 2023, 08:53:27 PM »
Most of the big shots at my company all use one company to manage their money, advise them on insurance, taxes, etc.

Another company has promised some opportunities in private equity that aren't available to the general public.



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Offline BW

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Re: New To Investing Thread
« Reply #4380 on: March 17, 2023, 09:09:08 PM »
Also, how concerned should I be that 90%is sitting in cash at the regional bank?

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Offline michigancat

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Re: New To Investing Thread
« Reply #4381 on: March 17, 2023, 09:40:00 PM »


Also, how concerned should I be that 90%is sitting in cash at the regional bank?

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Your personal cash or your company's cash? Or the exec personal cash? I'm guessing you shouldn't have more than $250k in cash so you're fine. Also your regional bank is probably fine.

Offline Kat Kid

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Re: New To Investing Thread
« Reply #4382 on: March 17, 2023, 09:51:52 PM »
I just paid taxes to the IRS for the first time in my life. I have finally arrived.
Samesies and it rough ridin' sucks :th_twocents:

First time first time or first time paying extra after filing?
I’m a sovereign citizen so no I don’t pay taxes wym


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Offline BW

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Re: New To Investing Thread
« Reply #4383 on: March 18, 2023, 08:53:44 AM »


Also, how concerned should I be that 90%is sitting in cash at the regional bank?

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Your personal cash or your company's cash? Or the exec personal cash? I'm guessing you shouldn't have more than $250k in cash so you're fine. Also your regional bank is probably fine.
Personal.

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Offline michigancat

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Re: New To Investing Thread
« Reply #4384 on: March 18, 2023, 08:59:06 AM »


Also, how concerned should I be that 90%is sitting in cash at the regional bank?

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Your personal cash or your company's cash? Or the exec personal cash? I'm guessing you shouldn't have more than $250k in cash so you're fine. Also your regional bank is probably fine.
Personal.

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Well under 250k is insured and anything over that probably should be in a different asset (like VTSAX!) unless you have some sort of very special reason to keep over $250k in a single account. If you have more than $250k in an account and can't articulate why, you should consider hiring a fiduciary financial advisor! Might be a good idea anyway.

Offline Justwin

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Re: New To Investing Thread
« Reply #4385 on: March 18, 2023, 09:42:25 AM »


Also, how concerned should I be that 90%is sitting in cash at the regional bank?

Sent from my SM-G975U using Tapatalk

Your personal cash or your company's cash? Or the exec personal cash? I'm guessing you shouldn't have more than $250k in cash so you're fine. Also your regional bank is probably fine.
Personal.

Sent from my SM-G975U using Tapatalk

Well under 250k is insured and anything over that probably should be in a different asset (like VTSAX!) unless you have some sort of very special reason to keep over $250k in a single account. If you have more than $250k in an account and can't articulate why, you should consider hiring a fiduciary financial advisor! Might be a good idea anyway.

Or at the very least open an account at a different bank and make sure there is less than $250k in each account.

But I agree there is very little reason to have over $250k sitting around in cash.

Offline Dugout DickStone

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Re: New To Investing Thread
« Reply #4386 on: March 18, 2023, 10:50:09 AM »
jfc money bags has a quarter milly in cash sitting in a savings account down at UMB.  good on you bro

Offline BW

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Re: New To Investing Thread
« Reply #4387 on: March 18, 2023, 10:52:15 AM »


Also, how concerned should I be that 90%is sitting in cash at the regional bank?

Sent from my SM-G975U using Tapatalk

Your personal cash or your company's cash? Or the exec personal cash? I'm guessing you shouldn't have more than $250k in cash so you're fine. Also your regional bank is probably fine.
Personal.

Sent from my SM-G975U using Tapatalk

Well under 250k is insured and anything over that probably should be in a different asset (like VTSAX!) unless you have some sort of very special reason to keep over $250k in a single account. If you have more than $250k in an account and can't articulate why, you should consider hiring a fiduciary financial advisor! Might be a good idea anyway.

Or at the very least open an account at a different bank and make sure there is less than $250k in each account.

But I agree there is very little reason to have over $250k sitting around in cash.
I agree, been waiting to deploy it and also have some liquid for bills dealing with a house build/sale and move. After pay tax bill, it will be moved. Thus the question asking about a good money guy.

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Offline OB_Won

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Re: New To Investing Thread
« Reply #4388 on: March 18, 2023, 01:30:05 PM »
FDIC insures $250K per spouse if married (and money is communal).

Offline JasiahStafford

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Re: New To Investing Thread
« Reply #4389 on: March 20, 2023, 08:09:49 PM »
With so many investment options available, it can be overwhelming to determine which ones are the best fit for your goals and risk tolerance. That's where a financial advisor can be an invaluable resource. In addition to investment advice, a financial advisor can also assist with financial planning, retirement planning, estate planning, and tax planning. They can help you create a comprehensive plan that accounts for all aspects of your financial life and ensures that you're on track to meet your long-term goals.
« Last Edit: March 23, 2023, 06:45:21 PM by JasiahStafford »

Offline Spracne

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Re: New To Investing Thread
« Reply #4390 on: March 20, 2023, 08:26:46 PM »
Mmm. So true, Jasiah.

Offline DaBigTrain

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Re: New To Investing Thread
« Reply #4391 on: March 20, 2023, 08:53:06 PM »
Damn coming out of the blocks hot with the sage advice.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Online catastrophe

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New To Investing Thread
« Reply #4392 on: March 21, 2023, 01:40:14 PM »
Jasiah nails it as per usual. :cheers:

Offline GregKSU1027

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Re: New To Investing Thread
« Reply #4393 on: March 21, 2023, 02:06:36 PM »
I just paid taxes to the IRS for the first time in my life. I have finally arrived.
Samesies and it rough ridin' sucks :th_twocents:

First time first time or first time paying extra after filing?
First time paying extra after filing. I cannot speak for Kat Kid
“He plays for Kansas State. He doesn't play for Will Howard University." -Chris Klieman 10/14/2023

Offline samuemiron

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Re: New To Investing Thread
« Reply #4394 on: May 22, 2023, 05:06:42 AM »
Hey everyone, 22-year-old here just starting to dip my toes into investing! I came across ben ji's advice and it's been super helpful for me. Just wanted to chime in about the importance of that employer match. Honestly, it blew my mind realizing I could get FREE money just by contributing to my 401k. I was hesitant because of student debt, but it's a no-brainer when you think about it. As for choosing between the 401k and Roth IRA, I did my research and came to the same conclusion as ben ji. Besides the tax advantage of the Roth IRA, I really appreciate having more investment options to choose from. I even found an interesting site while doing my research, https://stephenswmg.com/services/wealth-management, which gave me a better understanding of wealth management. Just thought I'd share it in case anyone's interested! Happy investing, peeps!

Offline DaBigTrain

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Re: New To Investing Thread
« Reply #4395 on: May 22, 2023, 09:18:05 AM »
I’ve used that site before and it’s a confirmed squawk house. They will nickle and dime your money away
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

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Offline AzCat

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Re: New To Investing Thread
« Reply #4396 on: May 23, 2023, 01:58:18 PM »
Another company has promised some opportunities in private equity that aren't available to the general public.

Run.  They're inviting you folks to be exit liquidity for the big money that has already got theirs.  These "opportunities" being shopped through advisors now are tranches of gated funds that have yet to take their (vastly lower) marks on their portfolios.  Best case: you're locked up for years; underwater for years; and well below public market returns by the time you can get out. 

Offline steve dave

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Re: New To Investing Thread
« Reply #4397 on: May 23, 2023, 02:29:10 PM »
Another company has promised some opportunities in private equity that aren't available to the general public.

Run.  They're inviting you folks to be exit liquidity for the big money that has already got theirs.  These "opportunities" being shopped through advisors now are tranches of gated funds that have yet to take their (vastly lower) marks on their portfolios.  Best case: you're locked up for years; underwater for years; and well below public market returns by the time you can get out.
AZCAT!


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Offline ben ji

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Re: New To Investing Thread
« Reply #4398 on: May 31, 2023, 12:00:01 AM »
Was hanging out with an old HS friend and was reminded that I bought an Ipod in 2002 when they first came out so I could load up all my illegally downloaded napster songs onto it (Ran a aux cable to a cassette tape to listen to it in my first car). I have no idea where that Ipod is now but I'm pretty sure it cost close to $500 and if I had invested that in apple stock instead of an Ipod that $500 would be worth like $375,000

 :Wha:

Offline steve dave

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Re: New To Investing Thread
« Reply #4399 on: May 31, 2023, 07:10:50 AM »
Would rather have the iPod back then tbh


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