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01-05-2022, 11:45 PM
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#31
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BANNED
Join Date: Jan 8, 2010
Location: The MAGA Zone
Posts: 35,624
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Quote:
Originally Posted by Lucas McCain
TWK, you need to tell your broker to have your money automatically reinvested when whatever you own pays out dividends. I don't know whether he has you in mutual funds, REITS or ETFs, but unless you need the cash, have him buy more shares if the market is healthy.
Just some free advice and I do nothing for free and I'm not even a stockbroker. ![Smile](https://cdn-w.eccie.net/images/smilies/smile.gif)
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nope. by design it does not automatically reinvest in the stocks that pay out. this way if the market drops i don't lose the profit. the dividends in the money market fund pays a nominal return about like a savings account. so it sits there until we want to reinvest it.
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01-05-2022, 11:55 PM
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#32
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Valued Poster
Join Date: Oct 7, 2010
Location: Planet Earth
Posts: 10,514
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Alright. I don't like capital gains taxes so I just try to avoid them, so I don't want the cash... people have different investment strategies though so as long as you're making money, all strategies are good IMO.
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01-05-2022, 11:59 PM
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#33
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BANNED
Join Date: Jan 8, 2010
Location: The MAGA Zone
Posts: 35,624
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Quote:
Originally Posted by Lucas McCain
Alright. I don't like capital gains taxes so I just try to avoid them, so I don't want the cash... people have different investment strategies though so as long as you're making money, all strategies are good IMO.
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agreed. it's all about making money. we all good.
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01-06-2022, 12:17 AM
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#34
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BANNED
Join Date: Jan 8, 2010
Location: Steeler Nation
Posts: 18,435
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Quote:
Originally Posted by Lucas McCain
Alright. I don't like capital gains taxes so I just try to avoid them, so I don't want the cash....
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If it's a retirement account (IRA, 401k, Roth) there are no capital gains taxes, Luke. No taxes on dividends either. As long as you don't take money out prior to retirement. You know that, right?
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01-06-2022, 12:24 AM
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#35
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BANNED
Join Date: Jan 8, 2010
Location: The MAGA Zone
Posts: 35,624
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Quote:
Originally Posted by lustylad
If it's a retirement account (IRA, 401k, Roth) there are no capital gains taxes, Luke. No taxes on dividends either. As long as you don't take money out prior to retirement. You know that, right?
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exactly. you don't pay taxes until you spend it. butt a CPA from an Ivy League school would know that ... yeah?
BAHHAAAAAA
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01-06-2022, 12:40 AM
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#36
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Valued Poster
Join Date: Oct 7, 2010
Location: Planet Earth
Posts: 10,514
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Geez. I knew I should not have wasted my time with some of you folks in this thread. Just google it or whatever you need to do. It's not that complicated. Or maybe it is to you. Or maybe the tax laws have changed because they change all of the damn time.
Who the fuck said I was talking about my 401K and pension? Why would a good 401K or a good pension plan even fucking pay me in cash with dividends at my age and not just reinvest the money? They wouldn't do it even if I wanted them to because I'm not even close to being eligible by almost three decades and I'd get killed with taxes.
Do you folks know anything about the stock market and retirement plans and how they work? LOL
Chill out with the Trump circle jerk stock market shit until you know what you're talking about, old timers.
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01-06-2022, 12:42 AM
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#37
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BANNED
Join Date: Jan 8, 2010
Location: The MAGA Zone
Posts: 35,624
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Quote:
Originally Posted by Lucas McCain
Geez. I knew I should not have wasted my time with some of you folks. Just google it or whatever you need to do. It's not that complicated. Or maybe it is to you. Or maybe the tax laws have changed because they change all of the damn time.
Who the fuck said I was talking about my 401K and pension? LOL
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if you say so
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01-06-2022, 02:32 AM
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#38
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Premium Access
Join Date: Jan 9, 2010
Location: Nuclear Wasteland BBS, New Orleans, LA, USA
Posts: 31,921
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Quote:
Originally Posted by Tiny
Dilbert, respectfully, 503,976 is not 10% of 2,854,838.
285,484 is 10% of 2,854,838.
Please master division and percentages before you accuse me of playing fast and loose with my math.
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d00d.. you're pretty much off topic.
this thread is about ripping off stocks.
if you have an issue with it, take that over to the other thread where it belongs loosely or tightly.
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01-06-2022, 03:30 AM
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#39
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Valued Poster
Join Date: Feb 5, 2012
Location: Midwest
Posts: 260
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Quote:
Originally Posted by tman1847
I guess that's great except my portfolio has not gained back the money that was lost in November's decline. But it is getting close
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Whoa Vitaman! I take back everything I said. Instantly December has been erased and we are back to November.
If your 40, you have lots of time to recup, if your older and retired maybe not.
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01-06-2022, 04:13 AM
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#40
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Valued Poster
Join Date: Jan 16, 2010
Location: Texas
Posts: 51,038
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Quote:
Originally Posted by Lucas McCain
Alright. I don't like capital gains taxes so I just try to avoid them, ....
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So you voted for Bitten and support the TAXATION SOCIALISTS?
You need to get someone to start reading their legislation for you with a translation to you.
They did the same shit to you with "ObamaCare" .... at least NoMaskPissLousy was honest for a change.
She pushed OC through without reading it and admitted that she didn't read it before hand.
Some people who brag about making good money off pharma vaccine production and sales either don't know or don't want anyone else to know THEY ARE MAKING MONEY WITH TAXPAYERS' FUNDS with the pharmas NOT LIABLE, which means they don't have to set aside "reserves" for liability claims and they don't have to have pay additional insurance coverage for vaccine production and distribution also. Trump set that up with Congressional approval. Those braggers don't know that either.
Trump is helping them get "rich"!
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01-06-2022, 04:18 AM
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#41
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Valued Poster
Join Date: Jan 16, 2010
Location: Texas
Posts: 51,038
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Quote:
Originally Posted by tman1847
Whoa Vitaman! I take back everything I said. Instantly December has been erased and we are back to November.
If your 40, you have lots of time to recup, if your older and retired maybe not.
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Please don't try to get him to focus on reality and ACTUAL NEWS.
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01-06-2022, 06:52 AM
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#42
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BANNED
Join Date: Jan 8, 2010
Location: Steeler Nation
Posts: 18,435
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Quote:
Originally Posted by Lucas McCain
Who the fuck said I was talking about my 401K and pension? Why would a good 401K or a good pension plan even fucking pay me in cash with dividends at my age and not just reinvest the money? They wouldn't do it even if I wanted them to because I'm not even close to being eligible by almost three decades and I'd get killed with taxes.
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I didn't say anything about a pension. That's quite different than a 401k. One is a defined-benefit plan, the other is a defined-contribution plan. But you understand the differences, right Luke?
You can withdraw money early from an IRA if you're willing to pay the tax penalties. If you change jobs, you can usually convert an employer-administered 401k into a self-directed retirement account like an IRA. A pension is different. You have to work long enough to become vested, then wait until age 59-1/2 or later before you can collect a penny. It's entirely funded by your employer and you have no control over its investment decisions.
Both of them (pensions and defined-contribution plans) allow invested funds to grow tax-deferred, which means you don't have to worry about capital gains or dividends being subject to any taxes, until money is paid out during retirement, at which time it is treated as ordinary income to the recipient (who by then is usually in a lower tax bracket).
Quote:
Originally Posted by Lucas McCain
Do you folks know anything about the stock market and retirement plans and how they work? LOL
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A little bit. Which is obviously more than you know.
Now why dontcha tell everyone what you think of the investment strategy mentioned by Tiny in post #23. Does it sound like a good one? Why or why not?
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01-06-2022, 07:28 AM
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#43
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Valued Poster
Join Date: Jul 7, 2010
Location: Dive Bar
Posts: 41,227
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Quote:
Originally Posted by lustylad
I didn't say anything about a pension. That's quite different than a 401k. One is a defined-benefit plan, the other is a defined-contribution plan. But you understand the differences, right Luke?
You can withdraw money early from an IRA if you're willing to pay the tax penalties. If you change jobs, you can usually convert an employer-administered 401k into a self-directed retirement account like an IRA. A pension is different. You have to work long enough to become vested, then wait until age 59-1/2 or later before you can collect a penny. It's entirely funded by your employer and you have no control over its investment decisions.
Both of them (pensions and defined-contribution plans) allow invested funds to grow tax-deferred, which means you don't have to worry about capital gains or dividends being subject to any taxes, until money is paid out during retirement, at which time it is treated as ordinary income to the recipient (who by then is usually in a lower tax bracket).
A little bit. Which is obviously more than you know.
Now why dontcha tell everyone what you think of the investment strategy mentioned by Tiny in post #23. Does it sound like a good one? Why or why not?
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He doesn’t know a little bit about anything. Except fantasies.
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01-06-2022, 09:52 AM
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#44
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BANNED
Join Date: Feb 27, 2010
Location: houston
Posts: 10,238
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Quote:
Originally Posted by Tiny
Way to go Waco! You've built up a $50 million portfolio.
5,000 / .0001 = $50,000,000
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It looks like TWK said something he should not have said.
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01-06-2022, 10:11 AM
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#45
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BANNED
Join Date: Jan 8, 2010
Location: The MAGA Zone
Posts: 35,624
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Quote:
Originally Posted by VitaMan
It looks like TWK said something he should not have said.
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if you say so
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