Author Topic: New To Investing Thread  (Read 327234 times)

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Offline catastrophe

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Re: New To Investing Thread
« Reply #3700 on: March 29, 2021, 08:08:42 AM »
My wife and I were both sick yesterday from the vaccine. We both feel fine today but yesterday was similar to when we had Covid.
Are you sure you’re feeling ok today, considering you posted this in the investing thread?

Offline Institutional Control

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Re: New To Investing Thread
« Reply #3701 on: March 29, 2021, 11:09:56 AM »
My wife and I were both sick yesterday from the vaccine. We both feel fine today but yesterday was similar to when we had Covid.
Are you sure you’re feeling ok today, considering you posted this in the investing thread?

LOL, not I'm not sure. 

Offline WillieWatanabe

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Re: New To Investing Thread
« Reply #3702 on: March 30, 2021, 11:46:02 AM »


What would be the best type of account for starting a college fund for little ww? 529? or is there something better? tia

Absolutely a 529. Lots of states will give you a state tax deduction. If your state doesn't let you deduct you can set one up on Vanguard

https://www.learningquest.com/home/learn/benefits-features/tax-advantages.html
Just keep in mind many smart people say to worry about maxing your own retirement accounts first. Doesn’t do junior a lot of good to pay for college if he’s gotta support you later. Also retirement funds (I think) are less likely to count against him for financial aid. That said 529s are great for their purpose. I’ve already got some going for my 3.5 and 2 year olds.

Yep this is true. They can get cheap loans for college but you can't get cheap loans for retirement!

However you can put a little money in and do a lot of good like you said. 529 contributions are a great suggestion for gifts from family and probably better than the effort of something like a backdoor Roth once the 401k is maxed depending on age and situation.

thank you.
I wasn't quite sure the best company to go through to start one or if it really mattered.
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Offline catastrophe

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Re: New To Investing Thread
« Reply #3703 on: March 30, 2021, 11:56:32 AM »
I use Vanguard (Nevada plan) and it’s great, but like Mich said you should check first if your state offers any cool tax incentives to use their plan. Texas offers basically nothing.

Offline steve dave

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Re: New To Investing Thread
« Reply #3704 on: March 30, 2021, 12:30:13 PM »
Nebraska has one of the best. Deductible on state taxes. I go through them directly.


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Offline WillieWatanabe

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Re: New To Investing Thread
« Reply #3705 on: March 30, 2021, 12:34:00 PM »
:thumbs:

Looks like Kansas has an income deduction on the state tax return for contributions up to 6k.
Sometimes I think of the Book of Job and how God likes to really eff with people.
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Offline 8manpick

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Re: New To Investing Thread
« Reply #3706 on: March 30, 2021, 12:36:18 PM »
My wife and I were both sick yesterday from the vaccine. We both feel fine today but yesterday was similar to when we had Covid.
Are you sure you’re feeling ok today, considering you posted this in the investing thread?

LOL, not I'm not sure.
He got the vaccine as an investment in himself
:adios:

Offline chum1

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Re: New To Investing Thread
« Reply #3707 on: March 31, 2021, 02:49:33 PM »
What about putting HELOC money in an investment fund and then paying it off after ten years?

4% variable apr (7% max) on the HELOC for ten years. Difference between that and the investment fund returns is a bunch of free money, right?

Offline steve dave

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Re: New To Investing Thread
« Reply #3708 on: March 31, 2021, 02:52:03 PM »
What about putting HELOC money in an investment fund and then paying it off after ten years?

4% variable apr (7% max) on the HELOC for ten years. Difference between that and the investment fund returns is a bunch of free money, right?

the fact that you're not even considering going 3x leverage on that HELOC money tells me you aren't ready for this

Offline steve dave

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Re: New To Investing Thread
« Reply #3709 on: March 31, 2021, 02:53:47 PM »
are we here to make money or just sit around talking about making money chum? jesus christ.

Offline steve dave

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Re: New To Investing Thread
« Reply #3710 on: March 31, 2021, 02:54:02 PM »
figure it out

Offline steve dave

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Re: New To Investing Thread
« Reply #3711 on: March 31, 2021, 03:02:48 PM »
also irl you'd have to pay cap gains on the profits and that on top of the interest on the HELOC means you'd have to have a damn sure insider trady thing to make it make sense. also PM me that thing so I can get rich with you.

Offline catastrophe

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New To Investing Thread
« Reply #3712 on: March 31, 2021, 03:09:36 PM »
My feeling is that when you’re willing to introduce more risk into the equation there are probably better risk/reward investments than taking on debt to put it in ETFs. That said, I don’t really know what the better risky investments are, because I’m only really interested in minimal risk stuff that I don’t need to think twice about.

Offline ben ji

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Re: New To Investing Thread
« Reply #3713 on: March 31, 2021, 03:22:46 PM »
What about putting HELOC money in an investment fund and then paying it off after ten years?

4% variable apr (7% max) on the HELOC for ten years. Difference between that and the investment fund returns is a bunch of free money, right?

What if your investment goes down in a couple of years and the bank wants to close your HELOC?

Offline chum1

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Re: New To Investing Thread
« Reply #3714 on: March 31, 2021, 03:36:15 PM »
I don't know enough about variable interest rates. I sort of assume it goes up to the max rate after about a year like a rough ridin' cable bill.

What if your investment goes down in a couple of years and the bank wants to close your HELOC?

Then I will get rich by suing their asses off.

Offline steve dave

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Re: New To Investing Thread
« Reply #3715 on: March 31, 2021, 03:47:25 PM »
I don't know enough about variable interest rates. I sort of assume it goes up to the max rate after about a year like a rough ridin' cable bill.

What if your investment goes down in a couple of years and the bank wants to close your HELOC?

Then I will get rich by suing their asses off.
The scheme IS the scheme. I like this.


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Offline steve dave

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Re: New To Investing Thread
« Reply #3716 on: March 31, 2021, 03:51:15 PM »
Chum, I have a proposal for you. Read through my prospectus attached below and let’s get together later.

https://twitter.com/fxhedgers/status/1377357145641918464


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Offline sys

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Re: New To Investing Thread
« Reply #3717 on: March 31, 2021, 09:37:28 PM »
4% is too high.  2% would make sense.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline 'taterblast

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Re: New To Investing Thread
« Reply #3718 on: April 01, 2021, 08:52:39 AM »
i just did my first "backdoor" Roth IRA transfer and it wow what a stupid thing, why don't they just open up Roth to everyone.

Offline michigancat

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Re: New To Investing Thread
« Reply #3719 on: April 01, 2021, 09:23:35 AM »
i just did my first "backdoor" Roth IRA transfer and it wow what a stupid thing, why don't they just open up Roth to everyone.
Why have Roth's at all if you want to talk about things that don't make sense

Offline catastrophe

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Re: New To Investing Thread
« Reply #3720 on: April 01, 2021, 09:43:32 AM »
i just did my first "backdoor" Roth IRA transfer and it wow what a stupid thing, why don't they just open up Roth to everyone.
It is truly a ridiculous thing. My only explanation is that either: (1) it’s the IRS’s way of basically overriding Congress, or (2) yet another example of making things unnecessarily complex to give tax attorneys and CPAs something to do.

Offline 'taterblast

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Re: New To Investing Thread
« Reply #3721 on: April 01, 2021, 10:06:34 AM »
i just did my first "backdoor" Roth IRA transfer and it wow what a stupid thing, why don't they just open up Roth to everyone.
Why have Roth's at all if you want to talk about things that don't make sense

expand plz, curious what you mean here

Offline steve dave

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Re: New To Investing Thread
« Reply #3722 on: April 01, 2021, 10:19:12 AM »
backdoor roths should for sure be illegal. or roths should be available to anyone. one or the other. making a hoop to jump through that's super big and easy to jump through is pointless.

Offline IPA4Me

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Re: New To Investing Thread
« Reply #3723 on: April 01, 2021, 10:38:59 AM »
Roth seems good for young people. You're paying taxes in a lower bracket than you likely will in your 40s and 50s. Doesn't make much sense for me. Highly unlikely that I'll be in a higher tax bracket after retirement. My income will be 50-75% what it is now.

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Offline michigancat

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Re: New To Investing Thread
« Reply #3724 on: April 01, 2021, 10:51:48 AM »
i just did my first "backdoor" Roth IRA transfer and it wow what a stupid thing, why don't they just open up Roth to everyone.
Why have Roth's at all if you want to talk about things that don't make sense

I don't follow, it's just betting on which direction is more tax advantageous based on current earnings/long term market expectations. I can also see why a gov't may want to push people towards give me the tax dollars now rather than later.

why should you have to gamble your retirement on possible tax advantageous scenarios. Like as a general principle.

I don't know how the math works out but there could be a shitload of revenue generated for social security if you eliminated tax-advantaged retirement funds altogether.