OT: Investing - Stocks/Mutual Funds/Bonds/Crypto

HaroldinGMinor · Post #1141 » by **HaroldinGMinor** » Thu Jan 9, 2020 7:02 pm

MartyConlonOnTheRun wrote:Quarterly Old Man Yelling at the Sky Reminder: If you haven't maxed out your tax advantaged accounts and mostly in index funds, you shouldn't be messing around with any of these app based investment tools (unless it is purely for entertainment value).

I manage my tax advantaged funds on an app.

HaroldinGMinor · Post #1142 » by **HaroldinGMinor** » Sun Jan 26, 2020 5:23 pm

Anyone ever borrow from their 401K? I didn't even know you could do this until recently. Not looking to do it but I want to know my options in case real estate tanks and I need capital. Never hurts to understand how this stuff works even if I never go through with it.

Post #1143 » by **MickeyDavis** » Sun Jan 26, 2020 5:41 pm

HaroldinGMinor wrote:Anyone ever borrow from their 401K? I didn't even know you could do this until recently. Not looking to do it but I want to know my options in case real estate tanks and I need capital. Never hurts to understand how this stuff works even if I never go through with it.

Some plans allow it, some don't. In an emergency it's an option, otherwise not a good idea. Sure you "pay yourself back" with interest but in the meantime the money you took out is isn't working for you. And some plans don't allow you to make any further contributions as long as you have an outstanding balance. You have up to 5 years to pay it back, it comes out of your paycheck. But if you leave your job you have to pay it off by the next filing deadline (April 15) or pay taxes and penalties on the outstanding balance.

vlietinho · Post #1144 » by **vlietinho** » Sun Jan 26, 2020 6:04 pm

So... Hows everbody's weedstock or bitcoins going?! Personally I'm down 35% on my weedstocks overall and 49% down on my coins. Best investor Eva! ;-)

Luckily its money I dont really need atm

Finn · Post #1145 » by **Finn** » Sun Jan 26, 2020 6:51 pm

HaroldinGMinor wrote:Anyone ever borrow from their 401K? I didn't even know you could do this until recently. Not looking to do it but I want to know my options in case real estate tanks and I need capital. Never hurts to understand how this stuff works even if I never go through with it.

Motely Fool - Pros & Cons of 401(k) Loans

M-C-G · Post #1146 » by **M-C-G** » Sun Jan 26, 2020 8:04 pm

vlietinho wrote:So... Hows everbody's weedstock or bitcoins going?! Personally I'm down 35% on my weedstocks overall and 49% down on my coins. Best investor Eva! Luckily its money I dont really need atm

I’m regretting my five year hold no matter what strategy in weed stocks. The shenanigans with Tilray ballooning up to 300 overnight with no cause and Canopy firing Linton has taken all the confidence out of the market.

Not the ride I was envisioning!

Sent from my iPad using Tapatalk

Post #1147 » by **MickeyDavis** » Sun Jan 26, 2020 8:17 pm

Finn wrote:
HaroldinGMinor wrote:Anyone ever borrow from their 401K? I didn't even know you could do this until recently. Not looking to do it but I want to know my options in case real estate tanks and I need capital. Never hurts to understand how this stuff works even if I never go through with it.

Motely Fool - Pros & Cons of 401(k) Loans

The double tax thing is important

GiannisAnte34 · Post #1148 » by **GiannisAnte34** » Tue Feb 4, 2020 6:48 pm

better get on the XRP train while you still can

Post #1149 » by **MickeyDavis** » Tue Feb 4, 2020 7:50 pm

I have a lot of XRP at an average of about $.90 I think. Long way to go for me. But it was fun money

GiannisAnte34 · Post #1150 » by **GiannisAnte34** » Wed Feb 5, 2020 9:47 pm

MickeyDavis wrote:I have a lot of XRP at an average of about $.90 I think. Long way to go for me. But it was fun money

kinda ouch, but wouldn't be surprised at all to see a 6 month run go well over .90

HaroldinGMinor · Post #1151 » by **HaroldinGMinor** » Wed Feb 5, 2020 10:24 pm

GiannisAnte34 wrote:
MickeyDavis wrote:I have a lot of XRP at an average of about $.90 I think. Long way to go for me. But it was fun money

kinda ouch, but wouldn't be surprised at all to see a 6 month run go well over .90

HODL!!

Post #1152 » by **Ruzious** » Wed Feb 5, 2020 10:53 pm

Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

soxperry · Post #1153 » by **soxperry** » Wed Feb 5, 2020 11:08 pm

Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Ill get right on that after my wife and i get done clearing her 120k in student loans...

Post #1154 » by **Ruzious** » Wed Feb 5, 2020 11:12 pm

soxperry wrote:
Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Ill get right on that after my wife and i get done clearing her 120k in student loans...

Oh yeah, I forgot to mention... Don't borrow $120k for tuition.

soxperry · Post #1155 » by **soxperry** » Wed Feb 5, 2020 11:22 pm

Ruzious wrote:
soxperry wrote:
Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Ill get right on that after my wife and i get done clearing her 120k in student loans...

Oh yeah, I forgot to mention... Don't borrow $120k for tuition.

Right? I can't believe her parents signed off on that. The real kicker is that most of it was private loans at around 12% interest. We were able to refinance 85k at 5% but before that we were paying the equivalent of a decent mortgage every month in interest alone.

Fortunately she has an RN and not an arts degree, and my career picked up, so it will be paid off in two years, but right now it's very hard to watch all that money just disappear every month.

Post #1156 » by **Ruzious** » Wed Feb 5, 2020 11:28 pm

soxperry wrote:
Ruzious wrote:
soxperry wrote:
Ill get right on that after my wife and i get done clearing her 120k in student loans...

Oh yeah, I forgot to mention... Don't borrow $120k for tuition.

Right? I can't believe her parents signed off on that. The real kicker is that most of it was private loans at around 12% interest. We were able to refinance 85k at 5% but before that we were paying the equivalent of a decent mortgage every month in interest alone.

Fortunately she has an RN and not an arts degree, and my career picked up, so it will be paid off in two years, but right now it's very hard to watch all that money just disappear every month.

Hang in there bro. At least you got that light at the end of the tunnel in 2 years. Best of luck to you.

HaroldinGMinor · Post #1157 » by **HaroldinGMinor** » Thu Feb 6, 2020 12:12 am

Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Not sure what you're definition of a "safe" mutual fund is, but index funds are the way to go for most folks.

Post #1158 » by **MickeyDavis** » Thu Feb 6, 2020 12:23 am

Index funds are the way to go for sure. Expense fees can eat up your returns, Index funds from Vanguard and Fidelity (there are others) have very low fees. Fidelity has some zero fee funds. Although the way they pay out dividends can affect their return a bit.

As has been said on here many times it's fun to take a shot at weed stocks, crypto or other stocks. But only with money you can afford to lose. You'll see all kinds of great stories, here and all over, about big money people have made. Sometimes it's true. Often it's exaggerated and sometimes completely made up. Just like gamblers, stock pickers love to tout their wins and never mention their losses.

And don't panic when the market goes down, as it always does. Use it as an opportunity to buy more. Don't try to time the markets though, just invest regularly regardless of how the market is doing. This is especially true with a 401K where the money will keep going in. If you have a static retirement account, a rollover from somewhere and you won't be adding more cash then maybe a target date fund is suitable. Over the years it will get more conservative. The swings won't be as drastic, which is a good thing if you won't be putting more money in.

Post #1159 » by **Ruzious** » Thu Feb 6, 2020 12:27 am

HaroldinGMinor wrote:
Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Not sure what you're definition of a "safe" mutual fund is, but index funds are the way to go for most folks.

Index funds are a type of mutual fund. Those are usually good, but for a lot of those index funds, there are 3 times funds - that go up or down 3X the index. Those are suckers' bets, because the up and down multipliers make the actual increases smaller than 3 times. TZA and TNA are examples. I learned the hard way to stay away from them, because I wasn't smart enough to think the math through.

Finn · Post #1160 » by **Finn** » Thu Feb 6, 2020 12:30 am

soxperry wrote:
Ruzious wrote:Hopefully everyone's been in mutual funds. It's fine to take a small risk here and there, but you're going to win over time with most of your money invested in relatively safe mutual funds.

Ill get right on that after my wife and i get done clearing her 120k in student loans...

Very easy for me to type, & obviously much harder for you to do, but you really should try to Pay Yourself First. Good luck. And hug that nurse for me (they're worth their weight in GOLD!).