Re: Stocks Hit Record High

SharkE · ‎08-19-2010

@Pink123 wrote:
I took a huge hit from the big stock market crash of 2008 with the bundling of mortgages from the banks.

I thought I was diversified as I chose banks throughout the world.
Wrong. It happened overnight with one bank loss being Lehman and the house of cards went tumbling down within hour's.

If you have the time, the market is best but diversify them in all different sectors. As for me I'm now into CD's and out of the "grand casino".

I remember my broker telling me it's a mindset. If you are comfortable with risk the stock market is for you and you can sleep at night regardless. If you prefer peace and safety, CD's , US bonds are the way to go.

____________________________________________________

If your talking about Gov. issued I Bonds. Be careful around here nobody would cash mine. My friend has E bonds and she has no trouble, but, I had to redeem mine back to the Gov. Had no other choice. Dumped them all at once to them.

Now, I'm waiting for the piece of paper that says how much I owe the Gov. on the interest they accrued after all these yrs. YIKES!

Pink123 · ‎07-10-2019

Wow @SharkE there are quite a few out there. I still prefer bank CD's.

But almost everything is taxable.

Also if any of you have IRA's out there and did not convert them to a Roth at 73 you have to start taking money out like ir or not. Another taxable commodity.

Not sure if the law has changed. I hope it has as i earn a decent percentage of return from them but don't want to lose them for some years yet. ugh.

Stray · ‎04-20-2013

Of course the news is good but when this wonderful Country of ours is not a land of “haves & have nots” & there is equity I’m not jumping through any hoops. When people can stop hating each other & listen to each other’s viewpoints, intelligently & with understanding, I’d be happy. When the violence stops within our society & there are no wars, I’ll be at peace.

My 401K is doing fine but that’s not what gives me hope for humanity.

SharkE · ‎08-19-2010

@Pink123

Yeah, I got to do that in 2024 too, but, won't have to pay tax on that till 2025. The mandatory of what they tell you what the minimum of the Traditional IRA you have to take out.

I plan to use mine on paying house & car insurance so won't have to take out of checking account. That's always a big bill

Pink123 · ‎07-10-2019

@SharkE I still have a few years and I'm hoping they will up the mandatory cash in time.

It used to be 71 I'm pretty sure and then they raised it.

We shall see.

Zwervend · ‎09-02-2023

@Pink123 wrote:
@SharkE I still have a few years and I'm hoping they will up the mandatory cash in time.

It used to be 71 I'm pretty sure and then they raised it.

We shall see.

RMD's currently kick in at age 73.

From Investopedia:

"In 2022, Congress raised the age at which you must begin taking RMDs. In 2023, that is age 73.1 Account holders must therefore start withdrawing from a retirement account by April 1, following the year that they reach age 73. The account holder must then withdraw the properly-calculated RMD amount each subsequent year."

~Not a new poster, never been banned. Every time I take a break, I have to re-register for some reason~

Pink123 · ‎07-10-2019

@Zwervend wrote:
@Pink123 wrote:
@SharkE I still have a few years and I'm hoping they will up the mandatory cash in time.

It used to be 71 I'm pretty sure and then they raised it.

We shall see.
RMD's currently kick in at age 73.

From Investopedia:

"In 2022, Congress raised the age at which you must begin taking RMDs. In 2023, that is age 73.1 Account holders must therefore start withdrawing from a retirement account by April 1, following the year that they reach age 73. The account holder must then withdraw the properly-calculated RMD amount each subsequent year."

YAY! thanks @Zwervend

Zwervend · ‎09-02-2023

@Pink123 wrote:
Wow @SharkE there are quite a few out there. I still prefer bank CD's.

But almost everything is taxable.

Also if any of you have IRA's out there and did not convert them to a Roth at 73 you have to start taking money out like ir or not. Another taxable commodity.

Not sure if the law has changed. I hope it has as i earn a decent percentage of return from them but don't want to lose them for some years yet. ugh.

And when you convert them, you're hit with ordinary income tax on the entire amount immediately, which often results in a move to a higher tax bracket and ensuing larger tax bill. Leaving it in the IRA and taking RMD's as required spreads your tax exposure over multiple years. One of my financial advisors tried to convince me to do the conversion on my rollover IRA now (I'm 64) as I'd have more time for re-coup the money paid out in taxes on the conversion, plus the ROTH would be passed on to my heirs tax free. I declined. For one, I'm not interested in buying a tax break for someone else, and given the balance in my IRA, my tax bill would be huge. No thank you!

People need to do what's right for them. It's different for everyone.

Edited to add: I worked in institutional investing and with high net worth individual clients for about 7 years at the end of my career. There are a number of posts in this thread that cross the line into giving investment advice. Don't do that. It's illegal if you're not registerd with the SEC as an advisor. It's fine to provide facts, such as details of the tax law, as I've done above and in another post, but giving advice as to the types of investments one should make or how they should be handled crosses the line. I know people are well intentioned, but just don't do it.

~Not a new poster, never been banned. Every time I take a break, I have to re-register for some reason~

Cakers3 · ‎06-17-2015

@Rockycoast wrote:
Continued excellent news for the economy. Good for the country. Food prices down, gas prices down, jobs up, wages up, keep a good thing going!

@Rockycoast Any decline in food prices depends upon the category of food.

The food-at-home (grocery store or supermarket food purchases) CPI increased 0.3 percent from September 2023 to October 2023 and was 2.1 percent higher than October 2022.

One source: USDA

"" Compassion is a verb."-Thich Nhat Hanh

Cakers3 · ‎06-17-2015

@ciao_bella wrote:
@Mersha wrote:
@JillyMarie wrote:
@RetRN wrote:
And I suppose that credit card debt being at an all time high is fine with those who seem to think they are so wise. It is amazing how people spew whatever they want to bellieve without looking into the real situation and what is truly going on.
What is truly going on, pray tell.

@JillyMarie LOL You will never find out unless you know the secret handshake and have a special decoder ring.

A variety of issues can cause credit card debt. Some causes may be the result of expensive life styles, lack of self control in purchasing items, while others may stem from poor money management or failure to meet payments on time or not paying debt off completely each month.