Current Events > The DOW just passed 40k for the first time.

(+) Yeah! (+)

Crazy stuff! Will we see a big pullback soon?

"I liked Donnie because he made my 401k go brrrrr! Shit... no... *flips through talking points*.... inflation! Yeah, inflation bad!"

Sir this is a Wendys.

Dark Brandon wins again

The economy still sucks but tho

AnsestralRecall posted...

The economy still sucks but tho

economy is booming tho

fan357 posted...

Sir this is a Wendys.

No sir it isn't.

It is a Wendigo's.

https://gamefaqs.gamespot.com/a/forum/f/f49db355.jpg

AnsestralRecall posted...

The economy still sucks but tho

Housing market sucks but I'm making BANK on my investments and even my high-yield savings right now >_>

DKBananaSlamma posted...

Housing market sucks but I'm making BANK on my investments and even my high-yield savings right now >_>

How nice for you

Economy being good for people who already have money isn't impressive

40k you say? Cash for the cash god!

The Dow is like a clicker game for Wall Street. The numbers just keep going up!

AnsestralRecall posted...

How nice for you

Economy being good for people who already have money isn't impressive

Yeah. Heaven forbid we be happy for people who are succeeding.

i'd love to see the dow chart controlled for money supply

AnsestralRecall posted...

How nice for you

Economy being good for people who already have money isn't impressive

The rich get richer while the poor get poorer.

S&P and Nasdaq >>>>> DOW. I really don't know why the news keeps mentioning the DOW when a price weighted index with only 30 chosen companies is basically pointless. Hardly anyone buys a DOW index fund/etf unlike S&P and Nasdaq funds.

.

mach25687 posted...

The rich get richer while the poor get poorer.

Same as it ever was you new to america

bigblu89 posted...

Yeah. Heaven forbid we be happy for people who are succeeding.

Not going to celebrate people profiting off of a global system of designed wealth inequality.

project_night posted...

S&P and Nasdaq >>>>> DOW. I really don't know why the news keeps mentioning the DOW when a price weighted index with only 30 chosen companies is basically pointless. Hardly anyone buys a DOW index fund/etf unlike S&P and Nasdaq funds.

S&P and Nasdaq hit an all time high today as well.

AnsestralRecall posted...

Not going to celebrate people profiting off of a global system of designed wealth inequality.

So what's your plan? Drift into poverty to stick it to the man?

AnsestralRecall posted...

Not going to celebrate people profiting off of a global system of designed wealth inequality.

Well then you dont get a party hat!

So take THAT!

BignutzisBack posted...

So what's your plan? Drift into poverty to stick it to the man?

Pay off my debts and continue living a relatively low cost lifestyle with minimal financial burdens

Have no desire to play with investments or crypto or whatever other bullshit people engage in to create artificial wealth

CADE_FOSTER posted...

Same as it ever was you new to america

No shit Sherlock.

Well at least the well off people are having it good...

Noooo but I blew all my money on GME!

Joking

Anyone with a 401k will be having it good as well to be fair

AnsestralRecall posted...

The economy still sucks but tho

It actually is doing really well, by pretty much all metrics. Price greedflation and the crazy housing/renters markets right now are why these gains aren't being felt, though.

AnsestralRecall posted...

Pay off my debts and continue living a relatively low cost lifestyle with minimal financial burdens

Have no desire to play with investments or crypto or whatever other bullshit people engage in to create artificial wealth

How are you gonna afford retirement doing that? >_> You need investments

emblem-man posted...

Anyone with a 401k will be having it good as well to be fair

I think there's a term for this, like a, like a belief or something that definitely isn't used to lambaste or mock conservative economic policies and thinking.

https://twitter.com/JoeBiden/status/1791228923348500730?t=UMMOWdUZTHaawA12PG6-KA&s=19

Board_hunter567 posted...

I think there's a term for this, like a, like a belief or something that definitely isn't used to lambaste or mock conservative economic policies and thinking.

Trickle something

@DKBananaSlamma Neon, explain how to get into the stock market for me

imma crack open a 40 of st ides in celebration

CyborgSage00x0 posted...

by pretty much all metrics

CyborgSage00x0 posted...

Price greedflation and the crazy housing/renters markets

so it's not by all metrics

PowerOats posted...

@DKBananaSlamma Neon, explain how to get into the stock market for me

If you want something simple, buy an ETF like SPY. It basically covers mulitple securities and is usually pretty diverse, which is good because it lowers the risk of it decreasing overtime. After that, look up companies you're interested in and sort of branch out from there. Google, Amazon, Apple, Netflix, Meta, are some big names that might be "safe" to try.

Good growth is about 10% a year. Dont expect to double your money in a week or something lol. That's chasing waterfalls. You want steady longterm.

And invest money you dont need. It's still a gamble but go with the mindset that if something crashes, it wont break you >_>

Take it slow and have fun!

As for the basics on serious retirement, I would say to invest in a Roth IRA and max that out every year. And a 401k or equivalent and match whatever your employer does at least. Try to go for an index fund option if you can, but if they only have mutual funds, then that's fine too.

This 40k DOW is really helping food and housing prices!

so could I just place a few thousand in say SPY+ google and let it sit for a few years?

CADE_FOSTER posted...

economy is booming tho

Lmfao

YellowSUV posted...

This 40k DOW is really helping food and housing prices!

yep, the delusions people who can afford to invest their money have are fucking wild

PowerOats posted...

so could I just place a few thousand in say SPY+ google and let it sit for a few years?

Yes.

Regular, recurring investments are great too and add up. $20/week even. It adds up

SPY had some good growth within the last year at 28% (though it was kinda stagnant 2-3 years ago)

https://gamefaqs.gamespot.com/a/forum/4/4df273c4.jpg
https://gamefaqs.gamespot.com/a/forum/e/e8bef659.jpg

what about taxes. Im guessing id have to file any profits so I dont get destroyed later?

if there even is a profit, could I just pull out and get the money?

PowerOats posted...

what about taxes. Im guessing id have to file any profits so I dont get destroyed later?

Yes, like anything you have to pay tax on income. Some of what has been suggested provide unique tax benefits though . If you use a Roth you dont pay tax when you take the money out once it matures but will be penalized if you take out early. That is why this is more of a retirement instrument.

If you just open a normal brokerage account you will have to pay taxes on realized gains but the rate will vary depending on how long the investment has been going. You can also deduct losses.

PowerOats posted...

what about taxes. Im guessing id have to file any profits so I dont get destroyed later?

if there even is a profit, could I just pull out and get the money?

If you hold on to stocks for less than a year and pull out, you'll have to pay a short-term capital gains tax on the profit. But if you hold onto a stock for over a year, you'll just have to pay a long term capital gains tax on it instead which is lower.

ie: apparently my short-term capital gains tax would be 24% while my long-term capital gains tax would be 15% instead.

For a sec I thought this topic was talking about Warhammer 40k Dawn of War and got all excited.

FL81 posted...

so it's not by all metrics

Depends on how you define "economy", and if aspects of it are influenceable by the government.