Stock Market

[Witness1970]

The stock prices are getting cheaper.  It may be a good time to invest in the future.  I think I will wait until they get a bit cheaper.

 

I am glad that I got out of the stock market in mid-March.  I only had 26% of my retirement savings in the stock market, but that was enough to cause me major losses if I had stayed in it.  I am too old to deal with a big loss right now.

 

I love it when prices go down.  Makes for great buying opportunities!

[Cushi]

 

[Witness1970]

That idea of converting to a Roth doesn't apply to me.  I transferred my retirement accounts to a growth fund not affected by the stock market, so I haven't lost ANY money due to the stock market crash.  The same maneuver kept me from losing money during COVID.  Proverbs 22:3 has worked well for me.  Much better than so-called experts that say just stay in the stock market and ride it out.

 

(Proverbs 22:3) . . .The shrewd one sees the danger and conceals himself, But the inexperienced keep right on going and suffer the consequences.
 

[Tortuga]

5 hours ago, Witness1970 said:

That idea of converting to a Roth doesn't apply to me.

I started a Roth 10 years ago when I retired, and I did several large conversions at the lower tax rate. Now I fill the tax bracket with a small conversion each year. The Roth has grown, tax free, a lot in the last 10 years and will significantly reduce my taxes when I start RMDs. I think a Roth is a good idea as part of long-term planning, but it depends on personal circumstances.

[Cushi]

17 hours ago, Witness1970 said:

That idea of converting to a Roth doesn't apply to me.  I transferred my retirement accounts to a growth fund not affected by the stock market, so I haven't lost ANY money due to the stock market crash.  The same maneuver kept me from losing money during COVID.  Proverbs 22:3 has worked well for me.  Much better than so-called experts that say just stay in the stock market and ride it out.

 

(Proverbs 22:3) . . .The shrewd one sees the danger and conceals himself, But the inexperienced keep right on going and suffer the consequences.
 

That's great. I didn't post it in response to anything you said, though. Just came across the video last night and thought it was a great idea.

Edited April 9 by Cushi

[Witness1970]

7 hours ago, Cushi said:

That's great. I didn't post it in response to anything you said, though. Just came across the video last night and thought it was a great idea.

I'm not saying that converting to a Roth is not a good idea for some.  I am just saying that since I haven't lost money in the stock market the logic in the video does not apply to me.  She said that since the stock market, which includes many people's IRAs has lost so much money that now is a good time to do a conversion.  I got out of stocks before the big losses started and I didn't lose any money.  So that part of the logic doesn't apply.  I have considered converting some of my IRA to a Roth but haven't done so as of yet.

[Witness1970]

What I would prefer to do is put money in a Roth IRA now.  According to the rules I have seen that apply to me, if my wife and I together made $16,000 per year of earned money, we could each put $8,000 into an IRA, either traditional or Roth.  I would select Roth for the future tax benefits.  I would also consider the effect on my beneficiary's inheritance.

[Tortuga]

Today was nice. It's good to get some of my losses back.

[Witness1970]

9 hours ago, Tortuga said:

Today was nice. It's good to get some of my losses back.

Just think of what the people who are on the inside may have made.  People who knew got ut of the stock market before the losses and then bought back in knowing that the tariffs were going to be paused.  Mist have been a real killing for those insiders.

[Tortuga]

15 hours ago, Tortuga said:

Today was nice. It's good to get some of my losses back.

Well, that didn't last long...

[computerwiz]

Need to dig into this:

 

https://neosfunds.com/

 

Talking high-yield dividends (around 13%) plus whatever the market gives you.  The one that follows BTC is currently yielding about 30% on the dividends.  👀

 

The 3 I'm interested in are on Robinhood.  With that kind of dividend, its like a savings on steroids!  

[Dustparticle]

Check out this news 

 

https://www.yahoo.com/news/democratic-senators-call-probe-possible-143500875.html

Edited Thursday at 09:38 PM by Dustparticle

[Tortuga]

113 years ago today, the Titanic started its maiden voyage. Everyone was confident that everything would be fine. 5 days later it sank.

 

Why did I post this here? 

It just seemed appropriate..

[computerwiz]

Moving my 401k back into "stability of principle".  Looks like I timed it just right....buying the huge tariff dip, and today we're ending the day pretty up.  So hopefully tomorrow I'll be looking at a nice 2k locked in profits.

 

Huge dips are opportunities like this!!!  Keep your eyes open...

[Tortuga]

1 hour ago, computerwiz said:

Moving my 401k back into "stability of principle".  Looks like I timed it just right....buying the huge tariff dip, and today we're ending the day pretty up.  So hopefully tomorrow I'll be looking at a nice 2k locked in profits.

 

Huge dips are opportunities like this!!!  Keep your eyes open...

Are you able to do a YTD% on your entire portfolio?

I'm curious how your strategy compares to my portfolio YTD%

[trottigy]

I haven't touched my 457 (government version of 401) at all in two years. I am at -7.3% YTD, but for the one full year I am up 2.6%

[New World Explorer]

Is it ...Stock market....shock or sick market? forgot spelling LOL 

[Tortuga]

3 hours ago, New World Explorer said:

Is it ...Stock market....shock or sick market? forgot spelling LOL 

It's called a "stock' market because you have to stop and take stock of what is going on..

[New World Explorer]

2 hours ago, Tortuga said:

It's called a "stock' market because you have to stop and take stock of what is going on..

I took the "stock" 

Ended up in "shock" 

And now I am to "sick" to mock! 🤣

 

[computerwiz]

16 hours ago, Tortuga said:

Are you able to do a YTD% on your entire portfolio?

I'm curious how your strategy compares to my portfolio YTD%

 

Yes, now that the trade is complete I can say my YTD% is +1.54%

 

Which ain't much but it's better than being down...  

[computerwiz]

Also, just FYI, I don't think the market turmoil is over.  When we see another HUGE dip....I'll move my cash back into stocks again.  Watch for opportunities like this...

[Tortuga]

1 hour ago, computerwiz said:

es, now that the trade is complete I can say my YTD% is +1.54%

Nice!

I didn't make any moves and my YTD is -3.3%

[New World Explorer]

6 hours ago, Tortuga said:

Nice!

I didn't make any moves and my YTD is -3.3%

I have heard president with his own lips claiming that Americans are richer now (interview with journalist) I do not see it that way at all, not even in the slightest. Actually I see American people getting poorer. Unless Trump starts doing financial stimulus handouts… but that in itself would be an indication that economy is not functioning properly. House of cards indeed …. But wait a minute  most cards are printed in China LOL 😂 

[Hope]

1 hour ago, New World Explorer said:

I have heard president with his own lips claiming that Americans are richer now (interview with journalist) I do not see it that way at all, not even in the slightest. Actually I see American people getting poorer. Unless Trump starts doing financial stimulus handouts… but that in itself would be an indication that economy is not functioning properly. House of cards indeed …. But wait a minute  most cards are printed in China LOL 😂 

 

Heh. I'm getting ready to submit my income taxes today, owing nearly $6k. 😢 I will beg for a payment plan, that will likely take years to finish, at a rate that will make me more broke than I already am.

 

But, hey - we're winning over here...  

[Hope]

@Tortuga - that's what happens when one is single, no dependents, no property, investments, etc., nothing beyond the standard deductions to claim, and on unemployment for nine months with no other income. When you can't afford to have 20% of the already greatly reduced benefit deducted for taxes and are praying for a job soon enough to avoid the crushing pay back. 😢 

 

I've been here before. It's awful.

Edited 15 hours ago by Hope