ramssuperbowl99 Posted February 27, 2020 Share Posted February 27, 2020 @MWil23 should have lead off with this. It was a very, very smart move to find some extra income that's going to help jump start your investing. 2 Quote Link to comment Share on other sites More sharing options...
Mox Posted February 27, 2020 Share Posted February 27, 2020 I'm running out of side cash to invest during these massive drops. Quote Link to comment Share on other sites More sharing options...
Bonanza23 Posted February 28, 2020 Share Posted February 28, 2020 (edited) I made $1800 today on the panic. 😎 Edited February 28, 2020 by Bonanza23 Unfortunately in sim 🤷🏼♂️ 1 Quote Link to comment Share on other sites More sharing options...
Shanedorf Posted February 28, 2020 Share Posted February 28, 2020 1 hour ago, Bonanza23 said: I made $1800 today on the panic. 😎 gotta cash in on the Dead Cat Bounce tomorrow Quote Link to comment Share on other sites More sharing options...
MWil23 Posted February 29, 2020 Share Posted February 29, 2020 On 2/27/2020 at 12:33 PM, ramssuperbowl99 said: @MWil23 should have lead off with this. It was a very, very smart move to find some extra income that's going to help jump start your investing. I just did the math and figured out that if I am able to set aside and invest $10,000 annually for the next 30 years with a 7% return that it will be over $1 million. $15,000 would be over $1.5 million. This would be on top of my retirement pension. Quote Link to comment Share on other sites More sharing options...
holt_bruce81 Posted March 1, 2020 Share Posted March 1, 2020 Is it still wise to get in on some stocks right now? Wanted to put some money in the other day because of the panic but ended up not doing it... Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted March 1, 2020 Share Posted March 1, 2020 1 hour ago, holt_bruce81 said: Is it still wise to get in on some stocks right now? Wanted to put some money in the other day because of the panic but ended up not doing it... Depends on what you’re looking to do. If you’re talking about a long term investment, this dip just did you a favor. If you might need the money in the short term, stocks prolly aren’t your best bet anyway. Quote Link to comment Share on other sites More sharing options...
skywindO2 Posted March 5, 2020 Share Posted March 5, 2020 I don't exactly have a great support network for financial discussion but when I floated an idea to my parents, they didn't seem sure it was a good idea. In this case I think asking random people on the internet for financial advice is a good idea. For years prior to retirement my mom bought savings bonds for me as part of some work program. It's not a huge amount of money but it's not insignificant either as I think when value was last checked on them 2-3 years ago, it was a little over four thousand dollars. My question is, would cashing these in and dumping and starting up an IRA/investing it in retirement be a better use for them? I know the answer is yes but I need some affirmation from someone before I do anything. I already have a roth 401k with work but I feel overdue in starting up a supplemental retirement fund. Also for starting a new IRA, is vanguard still the go-to servicer for this kind of thing? Quote Link to comment Share on other sites More sharing options...
theJ Posted March 5, 2020 Share Posted March 5, 2020 10 minutes ago, skywindO2 said: I don't exactly have a great support network for financial discussion but when I floated an idea to my parents, they didn't seem sure it was a good idea. In this case I think asking random people on the internet for financial advice is a good idea. For years prior to retirement my mom bought savings bonds for me as part of some work program. It's not a huge amount of money but it's not insignificant either as I think when value was last checked on them 2-3 years ago, it was a little over four thousand dollars. My question is, would cashing these in and dumping and starting up an IRA/investing it in retirement be a better use for them? I know the answer is yes but I need some affirmation from someone before I do anything. I already have a roth 401k with work but I feel overdue in starting up a supplemental retirement fund. Also for starting a new IRA, is vanguard still the go-to servicer for this kind of thing? Yes. Your parents are too conservative. You're probably making 1% on those things, as compared to 10-15% in the market. This is also a good time to get in, since the market has dipped a bit recently. I invest in Vanguard ETF's through TD Ameritrade. I don't think i would necessarily go with Vanguard directly, since you'll have access to other firms too through 3rd party services. But you'll have to compare servicers to see what perks and offers are out there. Been a while since i've looked into it. 1 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 5, 2020 Share Posted March 5, 2020 3 hours ago, theJ said: I invest in Vanguard ETF's through TD Ameritrade. I don't think i would necessarily go with Vanguard directly, since you'll have access to other firms too through 3rd party services. But you'll have to compare servicers to see what perks and offers are out there. Been a while since i've looked into it. This is a new thing since Vanguard became more popular. Basically everyone is offering their funds, or their versions of indexed funds. Some might be a few basis points cheaper, but it doesn't really matter. I was a Vanguard guy for a while, but moved to Fidelity recently since my 401k is already there anyway so having one login makes everything way easier. Also 401k.com is the easiest website name to remember. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted March 5, 2020 Share Posted March 5, 2020 @theJ I called me lender and am looking to switch from my 5-1 ARM to a 15 year fixed because the rates are between 2.5-2.75. That's insane! Quote Link to comment Share on other sites More sharing options...
theJ Posted March 5, 2020 Share Posted March 5, 2020 8 minutes ago, MWil23 said: @theJ I called me lender and am looking to switch from my 5-1 ARM to a 15 year fixed because the rates are between 2.5-2.75. That's insane! Yeah they've went down a quite a bit since last year. I got 3 3/8% last April. A friend of mine who bought a new house last year just refinanced too. The math works as long as you're not planning on paying it off early. Congrats! 1 Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted March 5, 2020 Share Posted March 5, 2020 5 hours ago, skywindO2 said: I don't exactly have a great support network for financial discussion but when I floated an idea to my parents, they didn't seem sure it was a good idea. In this case I think asking random people on the internet for financial advice is a good idea. For years prior to retirement my mom bought savings bonds for me as part of some work program. It's not a huge amount of money but it's not insignificant either as I think when value was last checked on them 2-3 years ago, it was a little over four thousand dollars. My question is, would cashing these in and dumping and starting up an IRA/investing it in retirement be a better use for them? I know the answer is yes but I need some affirmation from someone before I do anything. I already have a roth 401k with work but I feel overdue in starting up a supplemental retirement fund. Also for starting a new IRA, is vanguard still the go-to servicer for this kind of thing? 100% Yes. At your age there is no reason to have bonds over stocks. I use TD Ameritrade for my IRA (and Vanguard for my 401k) Quote Link to comment Share on other sites More sharing options...
theJ Posted March 5, 2020 Share Posted March 5, 2020 I actually cashed out some random bond fund Iast year that had lying around from my stupider years. When I got the tax papers on that this year I had taken a loss on it. Meanwhile the stock market is up like a billion percent from 10 years when I bought that fund. Bond funds suck. Quote Link to comment Share on other sites More sharing options...
Elky Posted March 6, 2020 Share Posted March 6, 2020 This panic has been getting me interested in playing with the stock market. I've been thinking of putting some money into Disney since they're down to $113 and they're bound to pick back up once this clears. Quote Link to comment Share on other sites More sharing options...
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