Tmac
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Investing General Discussion
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Tmac
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Okay, so to be precise I have $12k in a Roth, $2k in stonks, and $22k in crypto.
My cyrpto is down like $8k from May, my Roth is up like $800, and my stonks are flat.
I also talked to my CPA again and I could invest $11,090 into my SEP and my federal tax bill would be reduced by like $2200. Apparently whatever you invest is applied 12% as a tax reduction. I misunderstood!
My cyrpto is down like $8k from May, my Roth is up like $800, and my stonks are flat.
I also talked to my CPA again and I could invest $11,090 into my SEP and my federal tax bill would be reduced by like $2200. Apparently whatever you invest is applied 12% as a tax reduction. I misunderstood!
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Kirun
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Yeah, I guess I'm just not willing to make that hedge with how volatile our current "ruling class"/leaders are. If you own the home, it's always there to protect against inflation, etc. If I had the capital, I'd be absolutely hoovering assets right now.
Furry
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I agree with this assessment, and that was what I meant about spending 500k in the couple years before retirement. I'll have a credit score well into the 800s and what appears to be decent income, so it'll be a lot easier to qualify. I plan on dumping my house and becoming mobile. I'll likely be able to blast that 500k out of the water in one day if I find it financially prudent, but I intend to just let the markets take care of the payments if that makes more sense.
I'm just trying to stress that for me, the plan is to be extremely flexible. If I want to decide "Nope, I'm out" at 45, I'll probably be able to make something work. I don't know what the world will be like in 10-12 years, and I don't know what I'll be. Just gotta go day by day. So for now I just shove in my 1000$ every two weeks and keep on trucking.
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Gravel
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Oh, I absolutely agree. I remember reading something right around the 2016 election that was very level headed and amounted to "everyone thinks the world is going to end with an incoming President, but we survived Clinton, Bush, and Obama without anything too terrible happening. It was all overblown fear."
This time really feels different. Covid, great reset, all of it seems like they're telegraphing an evil Bond villain plan because they're so confident. The NWO shit decades ago was all blown off as a conspiracy theory, but now we have them saying "oh yeah, we're totally hoping for a one world government...and you're going to be deprived of everything, but you'll love it!"
All the more reason to at least try to enjoy as much as I can without being held down by a job, before it all falls to shit. If it doesn't, well, then I just get that much more free time.
Lurker here, thought I would jump in as the discussion seems quite pertinent to my situation. I'm in my mid 20s and living in London with a well paying job (£2900/month). Currently have about £50k capital, £20k in stocks & £10k in crypto. The rest liquid.
Moved back home at the start of the pandemic due to the room I was renting not being great for home-working etc. Now looking to move back out, specifically into my own place.
Currently thinking of either a) buying a place by liquidating all of my assets, max out my mortgage and even then need to get substantial help from my parents. Or b)Rent an apartment & after expenses have about £1k left a month.
If I do this I figure that I can use my aforementioned assets & try to create compound gains rather than having to start investing from scratch with minimal capital. My biggest thing against this though, is the thought of spending half of my income on rent & having nothing to show for it a few years down the line.
Moved back home at the start of the pandemic due to the room I was renting not being great for home-working etc. Now looking to move back out, specifically into my own place.
Currently thinking of either a) buying a place by liquidating all of my assets, max out my mortgage and even then need to get substantial help from my parents. Or b)Rent an apartment & after expenses have about £1k left a month.
If I do this I figure that I can use my aforementioned assets & try to create compound gains rather than having to start investing from scratch with minimal capital. My biggest thing against this though, is the thought of spending half of my income on rent & having nothing to show for it a few years down the line.
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Blazin
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I'm going to be spending about 800k on house/land by the time I'm done and I definitely have thought about getting a juicy low interest mortgage but I just can't do it. A big part of financial independence for me is being debt free I just can't do it. I may play around with it when construction is finished but chances are super small that I stick with that even though I know I can't out earn it. I don't think being able to out earn the mortgage is a factor for a lot of people who choose to live debt free, there are other subjective reasons for doing it.
Knowing I'm doing more to feed myself , having water and power etc and a home that is paid for is how I want to live my life. I don't think there is a right or wrong, if gravel is comfortable with a mortgage then I don't think there is anything wrong with that choice.
Knowing I'm doing more to feed myself , having water and power etc and a home that is paid for is how I want to live my life. I don't think there is a right or wrong, if gravel is comfortable with a mortgage then I don't think there is anything wrong with that choice.
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Fogel
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What do you mean by max out your mortgage? That young I'd put the least amount down and pay the bare minimal payment considering how low interest rates are right now. Anything you put in the market will easily eclipse what you're paying on your mortgage, especially at your age.
Furry
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Precisely how I feel. All people can do is give advice, but everyone is going to have their eccentricities and bounds that guide their philosophy. The true answer to what's what is what you like to do. If you want to pull a foler and snort your income as crack, you be you.
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As in I will need to take the highest possible mortgage I can - £250k. Cheapest flat I can get will probably be £375k, so still need parents help to buy. Along with I imagine, my first few months salary at least to buy furniture for the place.
By put in the market do you mean invest into an ETF/index fund? Or buying a property?
Fogel
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Sanrith Descartes
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Hateyou
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What makes you say this? I thought about buying some over a year ago when it was under 200. It would’ve been a good buy back then seeing what it ended up doing but it’s been nothing but downhill for quite a while. I ultimately didn’t buy it because I do not trust China at all and didn’t want to be subjected to their communist whims such as...disappearing the CEO. I’ve decided to steer clear of any company that’s based in China. Communists will do some ridiculous stuff to companies if they feel like it, too much of a gamble for me.
Sanrith Descartes
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I was being semi-facetious. I generally avoid China stocks but BABA is a potential beast with a ton of upside. The reason it is trading down is two-fold. Jack Ma has been a critic of the government and because of this they decided to give him some grief with things like the ANT IPO. Ultimately I believe BABA is China's crown jewel and they arent going to fuck with it... much. They are just reminding Ma who is the boss. ARKK just started acquiring shares in it. With AMZN and WMT near 52-highs, its probably the best value of those types of plays. It is riskier, but that is why its trading at a discount. its 20% below its 200-DMA. That is a ton of potential upside. Even if its only a short term trade and not a buy/hold, a return to the 200-DMA by end of year returns a 40% annualized profit. To me its worth the risk at this price area.
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Hateyou
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I agree with the potential upside, it’s why I was looking at it back then. I just don’t trust China not to fuck with it. Yeah it’s their crown jewel today but I don’t trust communists to care about a crown jewel when some evil insane dictator decides to tear it down out of communist jealousy or whatever it is called that made them destroy their own businesses, society, people in the past. Good luck with it though, feel free to quote my post when it’s $2,000 a share in a few years and call me an idiot too, I won’t mind.
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Sanrith Descartes
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I am with you 100% on the China thing. I traded options on NIO for a while and made some money but it was never with the intention of going long. For me BABA is less an investment and more of a trade. I am in at $216 so if it gets on its horse and runs back up to $260+ i'll bail. Its the same with COIN. I am willing to hold them for a while but right now they dont have a permanent place in my portfolio.