OT: Stock and Investment Talk
- Thread starter RU-05
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I saw it jumped yesterday, didn't put much thought into. Then saw it jumping this morning, but didn't want to chase it.
Did you take profits? I could see this one swinging high and low for a couple days.
No J/K. Didn't buy any Kodak, individual stocks isn't my thing.
https://www.kitces.com/blog/navigating-income-harvesting-strategies-harvesting-0-capital-gains-vs-partial-roth-conversions/
Michael Kitces has a great website on investment. This article Is focused on tax arbitrage and planning and not “trading.” It’s probably more relevant to dinosaurs like me but it never hurts to start to think about these subjects early on. Pretty good overview in my opinion.
Michael Kitces has a great website on investment. This article Is focused on tax arbitrage and planning and not “trading.” It’s probably more relevant to dinosaurs like me but it never hurts to start to think about these subjects early on. Pretty good overview in my opinion.
That will depend on a lot on timing and if the dollar remains as our currency. It also depends on your individual situation so a lot of variables to cover.
If you own gold and you are out of work, well then you may need to sell your gold to pay your bills.
But if you bought gold as a hedge, you continue to wait. If (and that is a big if) there is a reset, the average reset has been the equivalent of $1,000:1 ratio. Meaning if you have $50,000 in the bank, you wake up to having $50.00. But again, that is historical which does not guarantee anything. If this were to happen gold could go anywhere from $10,000 to $50,000 an ounce. So whatever, the new currency is, you could sell your gold to obtain the new currency. The difference is that your purchasing power would be infinitely higher.
At the end of the day, nobody knows what is coming. Which is why I personally would never put all of my eggs in one basket. Stocks, bonds, cash, real estate, gold and silver diversify your portfolio so you can best deal with the unexpected.
Right now I am heavy into gold ETF's but only to accumulate more cash to have more options.
Finally, I have never envisioned a Mad Max scenario where I am holding off people with a rifle. That didn't happen during the Depression and I don't see that happening now. I don't believe the government would let that happen. They would hand out $1,000 a month before that happens, I am of the opinion.
FYI - Great interview with comedian Bill Burr (who sounds like a financial wiz!) :)
Bill Burr is great. It's funny. For all of our battles, we are both fiscal conservatives who both hate debt. The best feeling in the world is being debt free and only buying things that you can afford in cash. I am still driving a 2004 Honda CRV with 230,000 miles on it. Our mechanic says we are pretty much guaranteed to hit 300,000.
Meanwhile every one around me who doesn't have a pot to piss in are leasing 2019 cars for $400.00 a month.
Agree re debt. Mortgage will be done next ~ 12 months and my 2010 Infiniti is cruising along nicely just having passed the 150k mark. It's great
If you've got a good one hold onto it. I got 18 years and 208,000 miles from my Saturn SL2 a while back. When in 1 week the AC went and it failed the emissions test at inspection I decided the time was right.
1995 Honda Civic with about 220K. Been a great car but it has been giving me issues lately, currently in need of a water pump. Engine and trans are smooth as can be though.
I like Bill Burr, and I agree with the overall idea of not racking up dept or chasing the money at all costs, but there is only so much room in society for famous people who don't have to work 40 hours a week.
Unless you get a business write off, leasing a car is about as dumb as it gets! Being debt free is wonderful. Our daughter will start her adult life debt free (i.e., after college) and we are working towards buying our second house/shore house with cash.
My last car 2010 Altima had 150k miles and had to get a new one. Just didn’t want to spend any more money for repairs. I have in the past normally kept my cars for 5-6 years but then moved to 8 years and then 10 years. I didn’t think about saving so much when I was younger.
It seem many on the board lease. If you own a German car, the maintenance is really expensive and some get a lease which may include maintenance. My nephew owns a Porsche and he said a oil change cost $300. He just brought a truck so they don’t have to drive the Porsche so much.
I drive very little anyways, so it's not a major hindrance when it's time for repairs. And even at $1000 of repairs a year(which is a high estimated average) that is still 6 years of a car if I were to go out and buy a $6K car(recently saw a 2016 Ford Focus with 130K for that amount) and not have one repair over that time.
I often hear people say that you should lease a new car, and buy a used car. Do not buy a new car.
+1
We try to keep cars for 8-10 years. After that, the cost to maintain gets too high. We replaced my wife's 2009 GMC Acadia last year. It only had 85,000 miles, but the transmission was going and it was becoming a gremlin machine.
Some folks say, buy a lightly used car. Financially, leasing is awful. We buy brand new. Just easier and we get a full warranty to use. Does this cost a little more over the long run (than buying lightly used)? Yes, but it does ensure you get exactly what you want. Lots of options, colors, and features to deal with. We are picky. :)
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I agree AK, and Bill Burr is spot on correct.
I am fiscally conservative, minus my divorce have lived my life debt free, have owned and driven my last three japanese made cars over 300K miles. I buy alot of my things at walmart to save $$. The Walmart I go to is on Route 22 in union. Whenever I am there the vast majority of shoppers at this particular walmart are African American from Hillside, Newark and Elizabeth. Whenever I am in the parking lot I see alot of these black customers getting out of BMW's, Mercedes, and Lexus' seem to be the cars of choice. The vast majority of these luxury cars are late model cars. These cars are expensive to buy(even used), maintain, and even run(many require premium fuel) and makes me wonder if I am doing it wrong! I would love to own a luxury car but my better sense is that I should save my money for a rainy day or retirement. It also makes me wonder where all this systemic racism is when black folks from the above mentioned towns are rolling around in luxury cars and I am not. These are Just my observations.
Heh not sure many people are pickier than me when it comes to cars. When the engine on my black 05 Subaru Baja Turbo died, I flew to California to buy another black 05 Subaru Baja Turbo. The only other car I'd be interested in is a GMC Syclone, which I hope to buy someday. I like small, light pickups with a turbo and all-wheel drive, not too many of those around. All of today's pickups are too bulky and I'm not interested in all the electronics of today's new cars.
Anyway, back on the topic of living debt-free, I took out a loan when I bought my car because the interest rate on it is significantly less than what you can usually get on average with a decent mutual fund. I figure I come out ahead this way, and I expect to be driving it well after the loan is paid off.
Similarly, I recently had a discussion with one of my housemates over whether or not it is worth it to own a house. We are currently renting a three-bedroom house, paying well below market value because the landlord seems more interested in keeping us here because we always pay on time and can do minor repairs ourselves without bothering him. My housemate wants to buy a house, I am perfectly happy renting. The way I think about it, while renting means you always have to pay for housing, from an investment standpoint, buying a house doesn't seem worth it to me. You save a lot of money by renting, so you can take that difference between rent and mortgage and invest it in mutual funds. Unlike a mortgage, mutual funds are diversified, don't lock you into living somewhere for 15/30 years, and don't require expensive repairs and maintenance, so you get a better return by investing that difference. Of course many people aren't concerned about it being a sound investment and just want to own their home, which is fine. For me personally, that isn't all that important.
Intetersting you mention this as a buddy of mine was offering up a Subara Brat with a turbo (installed I assume after the fact). I was a little cool on the idea early, price $6K was a bit high for an older car, but I've been thinking about it.
Wow that's pretty cool, yeah I don't think those ever came from the factory with a turbo.
I always live by 50/30/20 in allocating my income :
50-needs 30-wants 20-savings
I’m closer to 25% savings on average and my savings is roughly 25% cash/75% investments in the market. I only own a home and invest mostly in index funds and some single names stocks here and there.
Oh and I LEASE 2 cars..since that seems to be a hot topic
50-needs 30-wants 20-savings
I’m closer to 25% savings on average and my savings is roughly 25% cash/75% investments in the market. I only own a home and invest mostly in index funds and some single names stocks here and there.
Oh and I LEASE 2 cars..since that seems to be a hot topic
Sounds like some folks are getting weak-kneed. Stay the course!
I am staying the course on my stocks but the profit margins have dropped significantly in the last month.
Still, I am up about 3 1/2% since the beginning of July. BTW - Gold is pushing $2,000.00.
Still, I am up about 3 1/2% since the beginning of July. BTW - Gold is pushing $2,000.00.
These are crazy times, so things might be at least temporarily different, but normally if interest rates are this low buying makes a lot of sense unless you expect to relocate in less than 5 years. Now with the exodus from NYC currently under way prices might have spiked enough to offset the rates. But long term renting is rarely cheaper than owning. Crunch those numbers.
Gold is at $1,960.00 this morning. Now is the time (if you haven't already) to buy some gold and silver to protect yourselves and your families.
And if you don't believe me, Goldman and JP Morgan have also come out with gold buy recommendations. Ask yourself why 2 major investment banks would advise against their own business models?
My guess is all of the major Wall Street investment banks have been buying gold and silver all along.
And if you don't believe me, Goldman and JP Morgan have also come out with gold buy recommendations. Ask yourself why 2 major investment banks would advise against their own business models?
My guess is all of the major Wall Street investment banks have been buying gold and silver all along.
Just for sh*ts and giggles, please give us your evaluation as to why gold is too high?
Just hold on for a few minutes while I get my popcorn.
Record high, crazy people won't be able to sustain this price as normal people head back to the market.
Why can't you do both? And btw. Gold and Silver are in the process of taking off. As we have discussed and have agreed; diversify, diversify, diversify.
I am intrigued by seeing both the market and metals increase at the same time. I assume that is not normal.
