Current Events > Stock Market General #49

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fan357
04/09/23 10:32:36 PM
#102:


Damn feds really not gonna cut rates this year are they?

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Rise_Makaveli
04/10/23 10:06:32 AM
#103:


littlebro07 posted...
Enzolytics snake oil sugar water is at Walmart baby

to da moon

https://www.walmart.com/ip/3240546202
Wheres Jeff at?

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AlCalavicci
04/10/23 1:59:52 PM
#104:


littlebro07 posted...
Fuck I wanna be rich

have you invested in VTI yet ?

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Cocytus
04/10/23 2:19:15 PM
#105:


You just need money, you don't necessarily have to be rich.

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Anony1125
04/10/23 4:35:38 PM
#106:


AlCalavicci posted...
have you invested in VTI yet ?

I've lost $23,884.50 on VTI. Rich when?

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AlCalavicci
04/10/23 4:39:10 PM
#107:


Anony1125 posted...
I've lost $23,884.50 on VTI. Rich when?

Yikes, but VTI is supposed to be long term

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Dat_Cracka_Jax
04/10/23 5:44:26 PM
#108:


Anony1125 posted...
I've lost $23,884.50 on VTI. Rich when?
How much did you put in and when?

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Anony1125
04/10/23 6:15:49 PM
#109:


Dat_Cracka_Jax posted...
How much did you put in and when?
uhhh, $242,287.65 split many different ways between 8/16/21 and 3/27/23
this is my most impressive one, I pick only best times!

https://gamefaqs.gamespot.com/a/user_image/6/4/4/AAO7dSAAEXss.png

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BignutzisBack
04/11/23 11:32:33 AM
#110:


VTSAX and chill, I'm done with this singular one company stock bullshit

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DeepFriedSquid
04/11/23 12:00:43 PM
#111:


BignutzisBack posted...
VTSAX and chill, I'm done with this singular one company stock bullshit

Yep, set it and forget it
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Cocytus
04/11/23 12:19:21 PM
#112:


BignutzisBack posted...
VTSAX and chill, I'm done with this singular one company stock bullshit
Isn't that advice 101?

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littlebro07
04/11/23 12:24:19 PM
#113:


Ooh, VTSAX is only like $100 a pop?

Fuck it, might as well go all in on that.

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AlCalavicci
04/11/23 5:51:44 PM
#114:


I recently put in about 4k into VTSAX. Going to start putting regular amounts in I think

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6482921
04/12/23 12:52:56 AM
#115:


I decided to blow $430 on BBBY at $.302 Was bigmad when it dropped to $.288 but I'm up again now. Might have actually bought at the floor for once! Well, twice! DNN at $.97 Money dance!
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Cocytus
04/12/23 3:59:05 AM
#116:


Nvidia isn't a good time to buy because it's so fucking high, right?

NVDA
NVIDIA CORP $271.69 -4.10 (-1.49%)

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Cocytus
04/12/23 4:00:35 AM
#117:


6482921 posted...
decided to blow $430 on BBBY at $.302
You think it will go up?

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Tyranthraxus
04/12/23 3:58:55 PM
#118:


Considering eating my $2000 loss on Google and Amazon. What do you guys think? Will it ever go back to how it used to be? I'm starting to lose faith in Google. Comparatively I've got more faith in Amazon but also worse losses in Amazon.

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fan357
04/12/23 4:01:29 PM
#119:


I would hold.

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Cocytus
04/12/23 4:15:53 PM
#120:


fan357 posted...
I would hold.
Absolutely, especially if you're in it for the long term.

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CableZL
04/12/23 4:42:36 PM
#121:


I'll be getting $100/mo in dividends starting in May. Next goal is to push that up to $200.

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littlebro07
04/12/23 5:19:01 PM
#122:


CableZL posted...
I'll be getting $100/mo in dividends starting in May. Next goal is to push that up to $200.

tell me your secrets

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Trumpo
04/12/23 5:19:53 PM
#123:


The secret have lots of money

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Anony1125
04/12/23 5:21:00 PM
#124:


I don't think I understand dividends. Why do you want more taxable events? I wish I could lower my dividends.

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Tyranthraxus
04/12/23 5:21:50 PM
#125:


Anony1125 posted...
I don't think I understand dividends. Why do you want more taxable events? I wish I could lower my dividends.

The goal is to make enough off dividends that you can quit your job.

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CableZL
04/12/23 5:46:22 PM
#126:


Tyranthraxus posted...
Anony1125 posted...
I don't think I understand dividends. Why do you want more taxable events? I wish I could lower my dividends.

The goal is to make enough off dividends that you can quit your job.

Yeah, my long term goal is to get at least somewhere near matching my active income with passive income. Then I can make a decision on whether I want to keep working and keep making ~double the money or just retire and do what I want. I'm kinda frustrated in this regard because I'd be a lot closer to said goal right now if I hadn't made a bunch of bad financial decisions at 18 - 19. It would also have helped if I hadn't got my dream car and solar, but... I wanted to go for something nice, and then I'm not dealing with the Texas power grid failing and having to go days without power again.
littlebro07 posted...
tell me your secrets

Not really much of a secret... Just gotta put a lot of money in monthly dividend stocks. One hand, I'd like to invest more in growth stocks so that my money grows over time, but on the other hand, I like the idea of passive income that slowly snowballs with reinvesting and putting more in on top of that.

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Dan_Haren-
04/12/23 5:54:00 PM
#127:


Now that I'm buying a house, I'll keep about 3 months of rainy day funds (If I become disabled, my disability should kick in by then) in my bank account, another 10-20k just to keep liquid incase, the rest will all go to CDs or index funds.
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Anony1125
04/12/23 5:59:36 PM
#128:


Tyranthraxus posted...
The goal is to make enough off dividends that you can quit your job.
right, but if you're not close to retirement aren't they worse for getting to that point than just boring old sp500 index funds?

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Dan_Haren-
04/12/23 6:07:34 PM
#129:


The dividend strategy doesn't make sense, its simple and passive but the actual income amount is such little return on investment and its inconsistent year to year. On top of that you're paying income tax on dividends. Don't get the obsession here with that. You're better off following the standard bogleheads strategy of DCAing index funds and forgetting about it, then once you retire live by the 4% rule. If you put in $500 a month, in 25 years it'll be nearly 600k and 4% rule would get you 25k per year and that would go on forever and it would never run out and continue to grow. If you want to increase it to 7%, you could withdraw over 40k per year and it will never diminish in size, it would simply remain where its at. Work extra, push it to 1000 per month in investments and in 25 years it'll be over a million, and even 5% withdrawl will get you 50k per year.
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littlebro07
04/12/23 6:38:06 PM
#130:


Id like to retire before Im old as fuck though

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CableZL
04/12/23 9:03:51 PM
#131:


Dan_Haren- posted...
The dividend strategy doesn't make sense, its simple and passive but the actual income amount is such little return on investment and its inconsistent year to year. On top of that you're paying income tax on dividends. Don't get the obsession here with that. You're better off following the standard bogleheads strategy of DCAing index funds and forgetting about it, then once you retire live by the 4% rule. If you put in $500 a month, in 25 years it'll be nearly 600k and 4% rule would get you 25k per year and that would go on forever and it would never run out and continue to grow. If you want to increase it to 7%, you could withdraw over 40k per year and it will never diminish in size, it would simply remain where its at. Work extra, push it to 1000 per month in investments and in 25 years it'll be over a million, and even 5% withdrawl will get you 50k per year.

that's a fair point

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CE_gonna_CE
04/12/23 9:09:16 PM
#132:


Dividends are just gravy to me. But really though, they reduce the stock price at the time they are paid since they come from earnings. So its not even like youre really making money. Its a net-zero impact transaction to net worth, tbh. So you really have to view it as the company is making the decision to liquidate some capital for me.

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AlCalavicci
04/12/23 9:16:10 PM
#133:


littlebro07 posted...
Id like to retire before Im old as fuck though


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6482921
04/13/23 1:46:38 AM
#134:


Cocytus posted...
You think it will go up?

Well, it was up at opening bell on 4/12. Down now. I guess we'll find out. *sigh*
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Blue_Thunder
04/15/23 2:18:05 PM
#135:


Monie

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CE_gonna_CE
04/15/23 2:28:50 PM
#136:


Blue_Thunder posted...
Monie
Maybe

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Gamingsince1989
04/15/23 3:17:23 PM
#137:


I just inherited 379 shares of Northrop Grumman. Waiting for all the paperwork to finalize, but I honestly don't have the slightest idea about the stock market in general.
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littlebro07
04/15/23 3:20:52 PM
#138:


Gamingsince1989 posted...
I just inherited 379 shares of Northrop Grumman. Waiting for all the paperwork to finalize, but I honestly don't have the slightest idea about the stock market in general.

*looks up how much a share is*

well the first step is finding a trustworthy person with a strong financial background to handle your investments.

Like a total stranger from a dying video game message board who has made several 500 topics about the stock market


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Gamingsince1989
04/15/23 3:22:19 PM
#139:


littlebro07 posted...
*looks up how much a share is*

well the first step is finding a trustworthy person with a strong financial background to handle your investments.

Like a total stranger from a dying video game message board who has made several 500 topics about the stock market
Well my plan is to talk to a financial advisor or a lawyer, but I really don't know If I should hold on to it or sell it all.
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littlebro07
04/15/23 3:25:56 PM
#140:


idk how inherited shares work but selling before holding for a year results in more taxes being owed

could already be considered long term gains based on when they were purchased though

holding them gets you a nice $660ish quarterly dividend that you could then reinvest into buying more shares or cash out

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Gamingsince1989
04/15/23 3:27:58 PM
#141:


littlebro07 posted...
idk how inherited shares work but selling before holding for a year results in more taxes being owed

could already be considered long term gains based on when they were purchased though

holding them gets you a nice $660ish quarterly dividend that you could then reinvest into buying more shares or cash out
My understanding is that if I sell them, it goes based on the value of the shares the day that he passed away. If I sell them for higher than that price I pay capital gains on any profit, or if I sell for less than that value I can show it's a loss. I don't have to pay any inheritance taxes on it though.
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CE_gonna_CE
04/15/23 3:42:27 PM
#142:


Gamingsince1989 posted...
My understanding is that if I sell them, it goes based on the value of the shares the day that he passed away. If I sell them for higher than that price I pay capital gains on any profit, or if I sell for less than that value I can show it's a loss. I don't have to pay any inheritance taxes on it though.
This is correct. Step up in basis. Applies to real estate, stocks, pretty much any asset class

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Gamingsince1989
04/15/23 3:51:13 PM
#143:


CE_gonna_CE posted...
This is correct. Step up in basis. Applies to real estate, stocks, pretty much any asset class
I inherited his house as well but I'm going to have to sell that as I don't live in California, and I don't really want to bother with trying to rent to random people. I will probably have to pay capital gains on the house though, because they valued it much lower than what houses in the area are going for.
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fan357
04/15/23 3:56:03 PM
#144:


Sorry for your loss. Sounds like your gonna make a fat stack tho.

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CE_gonna_CE
04/15/23 3:58:24 PM
#145:


Gamingsince1989 posted...
I inherited his house as well but I'm going to have to sell that as I don't live in California, and I don't really want to bother with trying to rent to random people. I will probably have to pay capital gains on the house though, because they valued it much lower than what houses in the area are going for.
Where did the valuation come from, if you dont mind my asking? Ive never personally handled a case like this, but would imagine for IRS/tax purposes that there could be some leeway on what would be an acceptable source of record to determine FMV.

I mean, if Zillow Zestimate was showing a significantly higher FMV than what an alternative source was showing, for my records Id be going off of Zillow.

But yeah, I completely get not wanting to hold onto the property as a rental. Considering how much the market has shot up the past 2 years and what risk there is if it dropping more, selling would seem to be the most reasonable and lucrative option tbh

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Gamingsince1989
04/15/23 3:59:49 PM
#146:


fan357 posted...
Sorry for your loss. Sounds like your gonna make a fat stack tho.
Thanks, it was my father. He had esophageal cancer. This isn't the first time I've lost someone close to me, but it is the first time I have had to personally take care of all of their affairs and estate. It's especially difficult because I live in Nevada, and currently I'm in California trying to get everything handled.

CE_gonna_CE posted...
Where did the valuation come from, if you dont mind my asking? Ive never personally handled a case like this, but would imagine for IRS/tax purposes that there could be some leeway on what would be an acceptable source of record to determine FMV.

I mean, if Zillow Zestimate was showing a significantly higher FMV than what an alternative source was showing, for my records Id be going off of Zillow.

But yeah, I completely get not wanting to hold onto the property as a rental. Considering how much the market has shot up the past 2 years and what risk there is if it dropping more, selling would seem to be the most reasonable and lucrative option tbh

Zillow, realtor, redfin etc all value the house somewhere in the 400-440k range, but they were going off of what the house was valued for property tax purposes which was 280k
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CE_gonna_CE
04/15/23 4:08:28 PM
#147:


Gamingsince1989 posted...
Zillow, realtor, redfin etc all value the house somewhere in the 400-440k range, but they were going off of what the house was valued for property tax purposes which was 280k
Ah.. got it. Well I think that is actually decent news. Im a CPA, not a tax lawyer or anything so take this as you will, but go off off Zillow/Redfin/Realtor. Those are true fair market estimates, not the value pulled for tax purposes.

Ultimately, the stepped up basis you have in the property is the market value that the house would go for if it were sold on the day they passed away and you inherited the property. I guarantee thats the 400-440, not the 280.

The same applies to the NG shares. Its just a lot easier to value those since you can pull the exact share price of that on the day of inheritance. Cant do the same for a piece of real estate, but short of getting an appraisal or valuation, Zillow and Redfin estimates are just as good and reliable as anything.

If youre turning around and selling the property pretty quickly, safe to assume your basis in the property is that sales price and youll be at a $0 wash for tax purposes - no gain or loss.

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Gamingsince1989
04/15/23 4:10:41 PM
#148:


CE_gonna_CE posted...
Ah.. got it. Well I think that is actually decent news. Im a CPA, not a tax lawyer or anything so take this as you will, but go off off Zillow/Redfin/Realtor. Those are true fair market estimates, not the value pulled for tax purposes.

Ultimately, the stepped up basis you have in the property is the market value that the house would go for if it were sold on the day they passed away and you inherited the property. I guarantee thats the 400-440, not the 280.

The same applies to the NG shares. Its just a lot easier to value those since you can pull the exact share price of that on the day of inheritance. Cant do the same for a piece of real estate, but short of getting an appraisal or valuation, Zillow and Redfin estimates are just as good and reliable as anything.
Thanks that's good to know. I'm currently getting ready to go through the probate process, so I'll talk to the probate attorney about all of this. I have the will and deeds/titles for the house/vehicles, just have to go through the process of transferring everything into my name.
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Anony1125
04/16/23 4:40:34 PM
#149:


we feeling bull or bear this week?

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fan357
04/16/23 5:02:58 PM
#150:


Gimme the horns baby

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littlebro07
04/16/23 6:52:19 PM
#151:


Im gonna hit $10k this week.

Currently at about $5500.

I feel confident, and will post my winnings after the bell on Friday.

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