BobbyPhil1781 Posted October 22, 2020 Share Posted October 22, 2020 8 hours ago, Outpost31 said: I got in on that when I was looking for woodworking projects I could teach myself the craft with. Thought it was pretty cool and had never known what it was before. Thought it was just like a women's craft and cooking type thing. If it can get over the stigma of being just for women and add a social networking type aspect to it instead of it just being about pins and such, I think it could go higher. Luckily my wife has been involved since god knows when so I've been aware for a long time. This has been one of my biggest hits, ever. Your second statement is accurate also IMO. I feel they still have this poor misconception about what it is. If they can escape that (easier said than done), who knows where this can go. Quote Link to comment Share on other sites More sharing options...
fraziafraze07 Posted October 22, 2020 Share Posted October 22, 2020 On 10/15/2020 at 9:34 PM, mattyice0401 said: Lets say I do open a rothIRA account with vanguard do I just put money into like I do with any other account? Whatever % I use from my paycheck can I take that and put it into the account every 2 weeks? Or is it more like a lump sum amount? Thanks in advance. If it's available through your work, I'd recommend a Roth401k. It offers features of both a traditional 401k, and a Roth. You'll be contributing your after tax dollars to it and it has a higher contribution limit. I believe the limit for 2020 is $17,500. Quote Link to comment Share on other sites More sharing options...
MacReady Posted October 23, 2020 Share Posted October 23, 2020 Really wish Loyal3 never went under. I took advantage of a few of their IPOs, most of which I forget, but I remember being super intrigued by Telladoc, so I got 10 of them I think and that’s at 213 a share now. I think right about the time Loyal3 went under was when I moved to Stash and instead of transferring everything from Loyal3 to Stockpile (which I didn’t like), I just used all the cash and put it into Stash. Probably didn’t lose much overall, but it still hurts to see that. Quote Link to comment Share on other sites More sharing options...
pnies20 Posted October 25, 2020 Share Posted October 25, 2020 On 10/21/2020 at 10:53 AM, Outpost31 said: I got in on that when I was looking for woodworking projects I could teach myself the craft with. Thought it was pretty cool and had never known what it was before. Thought it was just like a women's craft and cooking type thing. If it can get over the stigma of being just for women and add a social networking type aspect to it instead of it just being about pins and such, I think it could go higher. Go long with it. They partnered with Shopify and have a ton of room for growth. BUY BUY BUY 1 Quote Link to comment Share on other sites More sharing options...
MacReady Posted October 28, 2020 Share Posted October 28, 2020 I got 20 more shares of Virgin Galactic, Plug Power and Scholar Rock. Good/bad choices? Too late now, but I wanna know. Quote Link to comment Share on other sites More sharing options...
El Ramster Posted October 28, 2020 Share Posted October 28, 2020 Nio did phenomenal today.. Also, how do you guys feel about ARK ETF.. is this the right one to invest in or is ARKW the one? And when do you guys sell your stock. Is there a reason to hold onto a stock for 30/40 years? Rather than flipping dat son a ***** and getting more bucks(besides taxes, as they can’t tax you as much if you hang onto them). I just dropped 12k in this Mofo and so far.. Rather my money work for me rather than sit in my bank. Also, this dude on YouTube swears by LCA! Says the merger is coming lol. He’s saying it’ll be a home run. He bought the stock at 14 and it’s down to 11!! But the dude is going bananas over it and is saying to buy more lol.. Also, made a killing on buying Doyu. Still cheap and Ark just bought a ish load of stocks! Think it’ll be a pump and dump or will they stay for the long haul? Quote Link to comment Share on other sites More sharing options...
Shockwave Posted October 28, 2020 Share Posted October 28, 2020 I'm mostly in cash now in my trading accounts aside from a few hundred shares of DKNG I'm bag holding but selling covered calls on. Obvious reasons the pandemic and election. But in particular I'm especially concerned about the prospect of a financial transaction tax being added if we have a change of administration,which will accelerate profit taking going into the end of the year. At some point I'll buy the dip and get back in. But too much uncertainty for me right now. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted October 28, 2020 Share Posted October 28, 2020 On 10/21/2020 at 7:50 PM, fraziafraze07 said: If it's available through your work, I'd recommend a Roth401k. It offers features of both a traditional 401k, and a Roth. You'll be contributing your after tax dollars to it and it has a higher contribution limit. I believe the limit for 2020 is $17,500. For 2020, contribution limits on 401ks (pretax or roth) are $19.5k. Just curious, why would you prefer a roth401k over a rothIRA? Also, unrelated but the IRS released the 2021 contribution limits for everything a few days ago: https://www.irs.gov/newsroom/income-ranges-for-determining-ira-eligibility-change-for-2021 They are all unchanged. $19.5k 401k, $6k IRA, The income limits for the savers credit and IRA phase outs went up a little, so that might be relevant to some people here. Quote Link to comment Share on other sites More sharing options...
fraziafraze07 Posted October 28, 2020 Share Posted October 28, 2020 17 minutes ago, ramssuperbowl99 said: For 2020, contribution limits on 401ks (pretax or roth) are $19.5k. Just curious, why would you prefer a roth401k over a rothIRA? Also, unrelated but the IRS released the 2021 contribution limits for everything a few days ago: https://www.irs.gov/newsroom/income-ranges-for-determining-ira-eligibility-change-for-2021 They are all unchanged. $19.5k 401k, $6k IRA, The income limits for the savers credit and IRA phase outs went up a little, so that might be relevant to some people here. I prefer the higher contribution limit and the fact that my employer can provide a match, which is not the case for the RothIRA. The thing you have to consider as well, is whether the plan administrator offers an investment vehicle you want to contribute too. The Roth401k has much more limited options compared to the RothIRA, but if you're like me and just want to dump you contributions into an index fund, then whoever the administrator is likely will have an option that works for you. I've been very happy with the performance of my VINIX election over the past 7 years, for example, which has annualized returns in the 12% range. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted October 28, 2020 Share Posted October 28, 2020 1 minute ago, fraziafraze07 said: I prefer the higher contribution limit and the fact that my employer can provide a match, which is not the case for the RothIRA. The thing you have to consider as well, is whether the plan administrator offers an investment vehicle you want to contribute too. The Roth401k has much more limited options compared to the RothIRA, but if you're like me and just want to dump you contributions into an index fund, then whoever the administrator is likely will have an option that works for you. I've been very happy with the performance of my VINIX election over the past 7 years, for example, which has annualized returns in the 12% range. The plan administrator limiting your fund choices is exactly why I would max out a rothIRA first before contributing to a roth401k. (Both are great, obviously, I just was asking more about where you'd put the first $6k/yearly. Sorry, should have been more specific.) Quote Link to comment Share on other sites More sharing options...
MWil23 Posted October 28, 2020 Share Posted October 28, 2020 @ramssuperbowl99 you have convinced me to use the bucket system to max out my Roth IRA first and then the mutual funds after that...I just saw my 30 year projection doing this and it’s like stealing money. 1 Quote Link to comment Share on other sites More sharing options...
Mox Posted October 28, 2020 Share Posted October 28, 2020 13 hours ago, Outpost31 said: I got 20 more shares of Virgin Galactic, Plug Power and Scholar Rock. Good/bad choices? Too late now, but I wanna know. Plug is a champ. It's going to be big when its 5 year plan is done. Quote Link to comment Share on other sites More sharing options...
fraziafraze07 Posted October 28, 2020 Share Posted October 28, 2020 10 hours ago, ramssuperbowl99 said: The plan administrator limiting your fund choices is exactly why I would max out a rothIRA first before contributing to a roth401k. (Both are great, obviously, I just was asking more about where you'd put the first $6k/yearly. Sorry, should have been more specific.) Like I said, I'm content to dump it all into the index fund that's available to me. So no need really to do the first $6K in a separate RothIRA. I don't think I'd be getting better/safer returns than what I'm getting for VINIX. So mine works for me. 1 Quote Link to comment Share on other sites More sharing options...
fraziafraze07 Posted October 28, 2020 Share Posted October 28, 2020 6 hours ago, MWil23 said: @ramssuperbowl99 you have convinced me to use the bucket system to max out my Roth IRA first and then the mutual funds after that...I just saw my 30 year projection doing this and it’s like stealing money. What is this bucket system? Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted October 28, 2020 Share Posted October 28, 2020 6 hours ago, MWil23 said: @ramssuperbowl99 you have convinced me to use the bucket system to max out my Roth IRA first and then the mutual funds after that...I just saw my 30 year projection doing this and it’s like stealing money. if you have an HSA, max that. Unlike any other account, all gains are completely untaxed, and you can withdraw at any time (for health costs only). The money goes in tax-free, grows income tax-free and comes out income tax-free when you use it for qualified medical expenses. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.