OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[johnnyredstorm]

Based can you go into more detail about an ira for retirement? Not something I've ever looked into but a buddy of mine came into some money and was looking to invest it and I figured putting that toward his retirement would be the best move since he's a young guy without a job that has retirement benefits.

 

[noskey]

I know that wasnt directed towards me, but I've been doing a lot of research in IRA's lately, so here's my 2 cents.

From how things look, tax wise, your buddy should go with a Roth IRA. Pay taxes on the money now, and it's not taxed when withdrawn in the future. With a Roth, only his gains and dividends would be taxed, I believe, and the contributions will be taxed at his current tax bracket rate.

Traditional IRA, he'll be paying taxes on everything that comes out of the account when drawdowns start, at the rate he's taxed at that time. I'd imagine he plans on making more money when he hits retirement than right now, leading to belonging to a higher tax bracket.

Anyone pls let me know if I'm off base on something, because I'm just getting a Roth going as well.


Edit: completely misread the job part in JRS' post.

 

[johnnyredstorm]

Thanks noskey. Yeah at the moment he doesn't have a job plan so I think it's beneficial to create his own. Where does one start

 

[based mod]

Yea basically what Noskey said.

I personally have a Roth with Vanguard, an old 403b with Fidelity when I was working for the uni & 401k with my current employer. I picked VG for my Roth since their funds are free to trade and have low expense ratios. I usually refer people to take a look at Lazy Portfolios (https://www.bogleheads.org/wiki/Lazy_portfolios) and cater it to their wants. I personally have something like 60% of my investments in riskier ETFs (small/mid caps, biotechs) since I'm youngish, 30% in blue chips/high yield divident ETFs, 10% in bonds. Performance has been doing pretty good so far, but that's probably because I got lucky with timing having gotten started after the 08-09 crash.

Surprised you don't have an IRA, JRS.

 

[slighted]

[h1]Apple 'considering takeover' of Jay Z's streaming service Tidal[/h1]
http://www.bbc.co.uk/newsbeat/artic...ng-takeover-of-jay-zs-streaming-service-tidal

---

What a waste this deal would be. Tidal is a non-issue. Spotify is the biggest competitor in this space.

 

[johnnyredstorm]

Yea basically what Noskey said.

I personally have a Roth with Vanguard, an old 403b with Fidelity when I was working for the uni & 401k with my current employer. I picked VG for my Roth since their funds are free to trade and have low expense ratios. I usually refer people to take a look at Lazy Portfolios (https://www.bogleheads.org/wiki/Lazy_portfolios) and cater it to their wants. I personally have something like 60% of my investments in riskier ETFs (small/mid caps, biotechs) since I'm youngish, 30% in blue chips/high yield divident ETFs, 10% in bonds. Performance has been doing pretty good so far, but that's probably because I got lucky with timing having gotten started after the 08-09 crash.

Surprised you don't have an IRA, JRS.

Yeah I was never big into planning for it lol but I just got hired to teach public school in ny so I have that being done automatically lol

 

[based mod]

[h1]Apple 'considering takeover' of Jay Z's streaming service Tidal[/h1]

http://www.bbc.co.uk/newsbeat/artic...ng-takeover-of-jay-zs-streaming-service-tidal
---

What a waste this deal would be. Tidal is a non-issue. Spotify is the biggest competitor in this space.

Yea I don't get this at all.

Yea basically what Noskey said.

I personally have a Roth with Vanguard, an old 403b with Fidelity when I was working for the uni & 401k with my current employer. I picked VG for my Roth since their funds are free to trade and have low expense ratios. I usually refer people to take a look at Lazy Portfolios (https://www.bogleheads.org/wiki/Lazy_portfolios) and cater it to their wants. I personally have something like 60% of my investments in riskier ETFs (small/mid caps, biotechs) since I'm youngish, 30% in blue chips/high yield divident ETFs, 10% in bonds. Performance has been doing pretty good so far, but that's probably because I got lucky with timing having gotten started after the 08-09 crash.

Surprised you don't have an IRA, JRS.

Yeah I was never big into planning for it lol but I just got hired to teach public school in ny so I have that being done automatically lol

Compounding interest bro!

 

[wizards23]

Congratulations on the new gig JRS!!

I'm holding twtr and ulta in long term accounts. It's tough not to look at them daily even though both positions are in the green. Short term mentality

 

[johnnyredstorm]

Thanks y'all. I plan on buying some aapl for long term once the checks start coming in. Gonna focus on investing long term and swing trading mighty via options when it calls for it.

 

[noskey]

Does Tidal have access to any markets Apple doesn't? I'm also a little confused as to this proposal. It cant simply be to own Prince's catalogue and have a couple exclusive releases a year...

 

[slighted]

Does Tidal have access to any markets Apple doesn't? I'm also a little confused as to this proposal. It cant simply be to own Prince's catalogue and have a couple exclusive releases a year...

Neutralize the Tidal threat (or lack thereof) with Apple's cold hard cash

But it'd still be a stupid, nonsensical acquisition

 

[based mod]

Almost had a heart attack and was gonna run to get some champagne since I have a good few calls expiring this month for BIIB.

Thought some mega deal happened, but probably just a misprint :\

 

[mynameaintg]

how do yall decide to sell?

i'm up almost 10% on a position and am considering selling, but Im always worried it could keep going up.

 

[noskey]

I can't say when you should sell or not, every situation is different. You do take that risk it keeps rising after you sell, but you also take the risk that the stock declines or crashes and you're left holding the bag. If you aren't confident in the stocks future, then you shouldn't own it.

FWIW it's almost impossible to time highs and lows.

 

[based mod]

^ Solid advice. If you're unsure about the company's future, you can't lose money by locking in your profits and selling while ahead.

 

[johnnyredstorm]

It's important you have an exit strategy if you're right and wrong. Decide, is this an investment or a swing trade? If it's an investment, that's up to you and your philosophy. You may take a little off and look to add more on a higher low, or you may just keep holding tight if you're outlook is 10 years. If it's a swing trade, you can scale out at designated areas (every 10% let's say) or you can sell your position when you see the stock making a lower high. It's up to you to figure out your own personal strategy and follow your own rules. Just remember, we're here to get paid. Just have a plan and know what you want to achieve. Nothing wrong with taking some off and letting some run if that's your outlook.

 

[based mod]

Today was a good day. Actually made a profit on the BIIB calls I bought PRE-brexit. Got a little too scary there, but held on for a nice rally after the first 2 days of hell


Have a bless-ed weekend peeps

 

[slighted]

[h3]S&P hits new all-time high, Dow up 100 points after Japan election[/h3]
What Brexit?

 

[goldenchild9]

Going long on AMD.

Should've racked up when they were around $2 dollars but I slept.

But with their chips in both Sony & Microsoft's consoles and mid generation refreshes, their profits should explode, with the coming wave of virtual reality innovation.

Plus their new CEO Lisa Su is the anti-Marissa Mayer. Love her leadership qualities.

 

[based mod]

Don't follow semis all that closely, but I'd throw money in Nvidia & Intel wayyyy before AMD. Glad to see them doing well in the market though. Competition is needed.

If I didn't sell my BIIB calls Friday, I'd be up another $1k right now [emoji]128557[/emoji]


Anybody looking to short SPY though?

 

[johnnyredstorm]

Nvidia is a good company

 

[based mod]

Picked up a few Aug puts for AAL since I thought the run-up for it and other airliners were getting overextended. Was wondering why its price was dropping after hours, then I saw the news of another attack in France. Not sure how to feel about this since I'm benefiting off of something terrible

 

[clouds]

thoughts on nintendo stock?

too late to buy? or still profit to be made

 

[slighted]

Picked up a few Aug puts for AAL since I thought the run-up for it and other airliners were getting overextended. Was wondering why its price was dropping after hours, then I saw the news of another attack in France. Not sure how to feel about this since I'm benefiting off of something terrible

Why feel bad?

Events like these cause dislocations in the market. It's sad what's happening, but don't let it stop you from doing what you love (investing).

 

[johnnyredstorm]

Meh, based you went short on a legitimate theory, just terrible that this happened. Nothing you could have done.