All Things Personal Finance

[Tortuga]

4 minutes ago, computerwiz said:

For Wealthfront, about 13%.

I just checked my Black Diamond report and I am 14.1% YTD 😁

[computerwiz]

8 hours ago, Tortuga said:

I just checked my Black Diamond report and I am 14.1% YTD 😁

 

You win!! 😝

[Cushi]

I found this index fund based off the S&P from Vanguard. It’s a “socially responsible investment.” What do you guys think?

 

 

[computerwiz]

32 minutes ago, *Jack* said:

I found this index fund based off the S&P from Vanguard. It’s a “socially responsible investment.” What do you guys think?

 

 

 

 

[Cushi]

8 hours ago, computerwiz said:

 

 

Thanks. My plan is to maximize my contributions every year and if this system lasts long enough (hopefully it won’t), withdraw all the money once it hits 1M or so and I’m old enough during a bull market. I will then put it in CD’s or high yield savings accounts, because by then I will have already grown a large sum of money. At that point I would just be trying to protect it and never worry about the stock market going down again.

[computerwiz]

4 minutes ago, *Jack* said:

Thanks. My plan is to maximize my contributions every year and if this system lasts long enough (hopefully it won’t), withdraw all the money once it hits 1M or so and I’m old enough during a bull market. I will then put it in CD’s or high yield savings accounts, because by then I will have already grown a large sum of money. At that point I would just be trying to protect it and never worry about the stock market going down again.

 

Or just YOLO into Bitcoin for a year... 

 

 

#partysjustgettingstarted

#notfinancialadvice

 

😬

 

[Cushi]

18 minutes ago, computerwiz said:

 

Or just YOLO into Bitcoin for a year... 

 

 

#partysjustgettingstarted

#notfinancialadvice

 

😬

 

Thanks, but I’m not touching Bitcoin with a 10 ft pole. I sincerely believe the government will find a way to make it obsolete once digital currency comes out. Then I believe it will plummet like a rock. Digital currency and the WEF’s plans for our future (does “you will own nothing and be happy” ring a bell?) made me think twice about investing in the stock market. The head of the bank for international settlements already said they will have “absolute control” once digital currency comes out. I don’t believe central banks and world governments want to release CBDC so there can be more “financial inclusion” as they like to say. I think it’s all about control. A digital currency can be programmed and used to control people. It’s already happening in other countries. In my opinion, there’s no way the government is going to allow decentralized digital currency to continue to exist when they already have a centralized form of digital currency they can use to surveil and control folks.

Edited December 5, 2023 by *Jack*

[computerwiz]

4 minutes ago, *Jack* said:

Thanks, but I’m not touching Bitcoin with a 10 ft pole. I sincerely believe the government will find a way to make it obsolete once digital currency comes out. Then I believe it will plummet like a rock. Digital currency and the WEF’s plans for our future (does “you will own nothing and be happy” ring a bell?) made me think twice about investing in the stock market. The head of the IMF already said they will have “absolute control” once digital currency comes out. I don’t believe central banks and world governments want to release CBDC so there can be more “financial inclusion” as they like to say. I think it’s all about control. A digital currency can be programmed and used to control people. It’s already happening in other countries. In my opinion, there’s no way the government is going to allow decentralized digital currency to continue to exist when they already have a centralized form of digital currency they can use to surveil and control folks.

 

In that case nothing you do actually matters.

 

But in the event none of that comes about (which it probably won't), you may find this interesting:

 

 

PS - if there's anything that government is good at is it is good at being slow. So even if the things it says comes to be, it will be quite a while. I'll have time to enjoy this next bull run. 😉

 

Edited December 5, 2023 by computerwiz
Added PS

[Cushi]

9 minutes ago, computerwiz said:

 

In that case nothing you do actually matters.

 

But in the event none of that comes about (which it probably won't), you may find this interesting:

 

 

PS - if there's anything that government is good at is it is good at being slow. So even if the things it says comes to be, it will be quite a while. I'll have time to enjoy this next bull run. 😉

 

I edited my post. It was the head of the Bank for International Settlements, not the IMF. I know what I said sounds like some tinfoil hat conspiratorial stuff, but I’ve been reading things from reputable sources. Many powerful folks have come out and directly said their plans for the future with no shame. Many of these things are reflected in executive orders and laws that are passed. J Edgar Hoover once said:

 

[on communism] “The individual is handicapped by coming face to face with a conspiracy so monstrous they cannot believe it exists. The American mind simply has not come to the realization of the evil which has been introduced into our midst.“

 

The government can do things slowly, whether good or bad. But I expect CBDC to come out by 2030.

 

 

[computerwiz]

10 hours ago, *Jack* said:

I know what I said sounds like some tinfoil hat conspiratorial stuff, but I’ve been reading things from reputable sources. Many powerful folks have come out and directly said their plans for the future with no shame.

 

I've jumped down that rabbit hole myself and am well aware of the theories & confirmed theories out there.  But my point remains the same:

 

1.  If things are going to be as bad as they say, nothing you do now matters.  Because "you will own nothing and be happy".

 

2.  If that is exaggerated and we will still have control of our finances (more or less), then we are at a critical point where the moves you make are super important.

 

3.  And if the end comes very soon, nothing you do financially right now really matters.

 

 

So I really can't do anything in expectation of 1 or 3.  But if #2 is true...yes all my choices right now matter.  Do you see what I'm saying?  If they take control of everyone's finances in 2030, I still have 7 (or 6 since this year is almost up) years to make the most of things.  And then it doesn't matter.  If they implement their plans early, say 2025, well maybe I wasted a little time but again it really doesn't matter.

 

All these ideas of what is going on behind the scenes is great and wonderful and quite possibly true.  But let's "bottom line" it and not get lost in all the details and minutia.  Bottom line is either you'll have control of your finances and you wanna maximize gains right now, or you won't have control (or the end is gonna come) and it doesn't matter and just let it be what it be.  🤷‍♂️

 

A CDBC will not kill crypto without taking control of everyone's finances.  The people that are into crypto will not go for such a thing.  China has banned crypto, yet they still have miners and traders there.  You can't stop it...it's P2P.  Without a middle-man, you can't block it.  So either governments would have to take complete control of people's finances (#1) or they're just gonna have to accept the situation and work alongside crypto, attempting to steal users, and doing the best they can to regulate it (#2).

 

PS - I just threw more money into crypto this morning.  Every indication I have saying that was terrible timing.  But this bullishness is so HUGE that it doesn't show any signs of slowing down.  And I firmly believe that "this party is just getting started".  😎

[Cushi]

45 minutes ago, computerwiz said:

 

I've jumped down that rabbit hole myself and am well aware of the theories & confirmed theories out there.  But my point remains the same:

 

1.  If things are going to be as bad as they say, nothing you do now matters.  Because "you will own nothing and be happy".

 

2.  If that is exaggerated and we will still have control of our finances (more or less), then we are at a critical point where the moves you make are super important.

 

3.  And if the end comes very soon, nothing you do financially right now really matters.

 

 

So I really can't do anything in expectation of 1 or 3.  But if #2 is true...yes all my choices right now matter.  Do you see what I'm saying?  If they take control of everyone's finances in 2030, I still have 7 (or 6 since this year is almost up) years to make the most of things.  And then it doesn't matter.  If they implement their plans early, say 2025, well maybe I wasted a little time but again it really doesn't matter.

 

All these ideas of what is going on behind the scenes is great and wonderful and quite possibly true.  But let's "bottom line" it and not get lost in all the details and minutia.  Bottom line is either you'll have control of your finances and you wanna maximize gains right now, or you won't have control (or the end is gonna come) and it doesn't matter and just let it be what it be.  🤷‍♂️

 

A CDBC will not kill crypto without taking control of everyone's finances.  The people that are into crypto will not go for such a thing.  China has banned crypto, yet they still have miners and traders there.  You can't stop it...it's P2P.  Without a middle-man, you can't block it.  So either governments would have to take complete control of people's finances (#1) or they're just gonna have to accept the situation and work alongside crypto, attempting to steal users, and doing the best they can to regulate it (#2).

 

PS - I just threw more money into crypto this morning.  Every indication I have saying that was terrible timing.  But this bullishness is so HUGE that it doesn't show any signs of slowing down.  And I firmly believe that "this party is just getting started".  😎

Although I won’t invest in crypto, I still plan on investing in the stock market because I have more to gain than to lose.  I was just saying some of the things I was reading and watching online about the Elite/governments plan for the future gave me pause for a second. I’m just waiting until January so I can have more time to do some research.

[Tortuga]

10 minutes ago, *Jack* said:

I’m just waiting until January so I can have more time to do some research.

I don't advocate playing the market but historically the stock market will do certain things at certain times of the year, especially election years, so you may want to research whether its better to invest now or wait until January.

[trottigy]

Crypto:

 

Quote

 

Do I have to pay crypto taxes?

Yes, if you traded in a taxable account or you earned income for activities such as staking or mining. According to IRS Notice 2014-21, the IRS considers cryptocurrencies as “property,” and are given the same treatment as stocks, bonds or gold. If you sold crypto you likely need to file crypto taxes, also known as capital gains or losses. You’ll report these on Schedule D and Form 8949 if necessary. Separately, if you made money as a freelancer, independent contractor or gig worker and were paid with cryptocurrency or for crypto-related activities, then you might be self-employed and need to file Schedule C.

 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/L8tQmALU3

 

the government seems to see crypto as the same as a stock or bond. It does seem a lot more volatile. More volatility means the opportunites for gains are greater BUT so are the opportunities for loss.

 

I suppose it just comes down to your personal "stress meter".

 

My issue with it is - where do I "store" it. Some platform gets to have my $$$ and too many of these are ran by shadey individuals IMO. Yes, more shadey than bankers who are backed by the FDIC. If the platform goes - I have lost everything AND have no way to recoup it.

Edited December 5, 2023 by trottigy

[computerwiz]

1 minute ago, trottigy said:

My issue with it is - where do I "store" it. Some platform gets to have my $$$ and too many of these are ran by shadey individuals IMO. Yes, more shadey than bankers who are backed by the FDIC. If the platform goes - I have lost everything AND have no way to recoup it.

 

Indeed...that was the scariest part of last bear market.

 

Coinbase seems stable.  Been around a long time, and government has their greedy paws on them.  But if you want absolute control, get a Ledger Nano S+ for $79.  It just takes a little more understanding of how crypto works, and a little more carefulness when making moves.

 

Or use MetaMask if you don't wanna spend money.  Though you have to be extra careful not to connect to shady sites or get your computer infected...

 

It's definitely not for the faint of heart or those that are not tech-savvy. But things are in motion to make it more mainstream and safer.  It's just if you can get in now, you will be way better off financially, because you're getting it at a really really good price right now.  When it goes mainstream & is regulated, we won't see these prices ever again... 

[Cushi]

3 hours ago, Tortuga said:

I don't advocate playing the market but historically the stock market will do certain things at certain times of the year, especially election years, so you may want to research whether its better to invest now or wait until January.

Thanks, but I guess it really doesn’t matter because I plan to invest every month whether the market is up or down. So even if I did invest this month, I still would invest again in January.

[Hotteok]

Bitcoin is soaring! 😦 Never seen this something like this. 

(of course, it means it can drop any time) 

I also have Avax, Eth, Xrp, Sol but just a small percentage each. 

 

[computerwiz]

53 minutes ago, Hotteok said:

Bitcoin is soaring! 😦 Never seen this something like this. 

(of course, it means it can drop any time) 

I also have Avax, Eth, Xrp, Sol but just a small percentage each. 

 

 

Yup. Told y'all crypto was gonna be wonderful soon. 😋

[Tortuga]

11 hours ago, trottigy said:

Crypto:

 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/L8tQmALU3

 

the government seems to see crypto as the same as a stock or bond. It does seem a lot more volatile. More volatility means the opportunites for gains are greater BUT so are the opportunities for loss.

 

I suppose it just comes down to your personal "stress meter".

 

My issue with it is - where do I "store" it. Some platform gets to have my $$$ and too many of these are ran by shadey individuals IMO. Yes, more shadey than bankers who are backed by the FDIC. If the platform goes - I have lost everything AND have no way to recoup it.

I have some Grayscale ETHE, it seems to be a secure way to get started. 

[computerwiz]

5 minutes ago, Tortuga said:

I have some Grayscale ETHE, it seems to be a secure way to get started. 

 

Indeed. And I'm not sure about the ETH flavor, but last I heard the BTC was at a discount. I'll have to check, but you're probably getting it at a deal. 

[computerwiz]

47 minutes ago, Tortuga said:

I have some Grayscale ETHE, it seems to be a secure way to get started. 

 

Actually you're paying about 19% more for ETH by using Grayscale instead of buying it yourself.

 

https://ycharts.com/companies/ETHE

 

But yes it's a secure way to deal with it. 

[computerwiz]

1 minute ago, computerwiz said:

 

Actually you're paying about 19% more for ETH by using Grayscale instead of buying it yourself.

 

https://ycharts.com/companies/ETHE

 

But yes it's a secure way to deal with it. 

 

Scratch that, I'm reading it wrong. You're SAVING 15% by using Grayscale. The "price" is about $19.

 

Time for bed! 😝

[computerwiz]

[Cushi]

Hey everyone. Here’s a YouTuber I’ve been following and listening to for some time. He’s an ex football player who had to retire early and then went into banking. He started investing in the stock market and buying real estate. He started a business called RF Financial Consulting. He gives financial tips and talks a lot about the stock market. He has really good content and his videos are always clean. Lately he’s been making long videos but the content is always really good.

 

 

[Cushi]

 

[Hotteok]

Can we trust bitcoin wallets though? Can they hack into individual wallets?