Boiler Room: The Official Stock Market Discussion

[Serious]

I've been doing research. All yaw with 401k and ROTH need to get the fukk out of dodge.

Over the lifetime of the ROTH/401k, you lose 66% of the money you would have made. So you'd be 3x making all the same moves independently,

I personally don't like M1 either. Their customer service is bottom-tier and I don't believe in giving someone money and they purchase the shares on their own time. Even if you only purchase blue chips, you could miss out on dips fukking with them.

Yep I was thinking about switching to fidelity.

 

[dora_da_destroyer]

I've been doing research. All yaw with 401k and ROTH need to get the fukk out of dodge.

Over the lifetime of the ROTH/401k, you lose 66% of the money you would have made. So you'd be 3x making all the same moves independently,

I personally don't like M1 either. Their customer service is bottom-tier and I don't believe in giving someone money and they purchase the shares on their own time. Even if you only purchase blue chips, you could miss out on dips fukking with them.

This makes no sense. A Roth - IRA account in general - allows you to trade the same way you would with a normal brokerage account yet provide better tax protections. A Roth allows your shyt to grow tax free while a regular IRA allows you to grow tax deferred.

and a 401k is a retirement account, most of which have some sort of match from employers - free money. Furthermore, it’s especially helpful for high income earners as you contribute pretax money and reduce your taxable income. You’d be a fool to not reduce your taxable income by $19k + get a company match. You can easily roll this money into an IRA when you leave a company, again freeing you to make more moves.

If people can do it, they should definitely have all 3 - 401k, IRA, and a brokerage account.

 

[Kyle C. Barker]

Since we're talking 401Ks has anyone used the cares act to rollover money from their 401K to an IRA?

I feel like I can get better growth managing my own money in IRA But I am not sure what the penalties would be.

 

[Doomsday]

If people can do it, they should definitely have all 3 - 401k, IRA, and a brokerage account.

Bruh, you got 40 stocks, A 401k, and a IRA? Man, you're shyt is all the way watered down.

 

[dora_da_destroyer]

Bruh, you got 40 stocks, A 401k, and a IRA? Man, you're shyt is all the way watered down.

It’s absolutely not. And the IRA holds some of those stocks

What aren’t you getting about an IRA simply being a tax efficient brokerage account meant to supply funds in retirement? You can only contribute 6k/year to it, so then yea, anything else you want to invest goes into a regular/taxable brokerage account

 

[Kyle C. Barker]

Bruh, you got 40 stocks, A 401k, and a IRA? Man, you're shyt is all the way watered down.

For anyone interested the 8:00 minute mark is where they tell you how you can lose 66% of your potential earnings.

 

[KalKal]

Just found a youtube video with a breakdown of a strategy pretty similar to what I'm doing with Options:


The "twist" that I'm putting on it is that I'm doing multiple ETFs (including GLD and SLV), and that if I go deep in-the-money early I'm willing to roll my options up to at-the-money long before expiration date.
Pretty simply strategy, but its been working well.

 

[Kal El]

Bruh, you got 40 stocks, A 401k, and a IRA? Man, you're shyt is all the way watered down.

You're making the assumption that brehs in here are paying financial advisors for investment advice off a John Oliver video

I doubt anyone in here is paying any fees except for expense ratios from Index Funds/ETF's - which for something like an ARK ETF that is giving 100% YTD returns, that .75 expense ratio is well worth it. One of the main points of this thread is for brehs to bounce investment strategies off each other for FREE so you don't have to pay a financial advisor.

@dora_da_destroyer broke down the advantages behind a 401k and Roth IRA

You are spreading some wild misinformation in here breh. Be careful what you post, never know who might read your post and take it to heart.

For anyone interested the 8:00 minute mark is where they tell you how you can lose 66% of your potential earnings.

Ain't no one in here paying financial advisors a 2% fee

Dude acting like you can't have control over your own 401k and Roth.

 

[Hahahaha]

I've been doing research. All yaw with 401k and ROTH need to get the fukk out of dodge.

Over the lifetime of the ROTH/401k, you lose 66% of the money you would have made. So you'd be 3x making all the same moves independently,

I personally don't like M1 either. Their customer service is bottom-tier and I don't believe in giving someone money and they purchase the shares on their own time. Even if you only purchase blue chips, you could miss out on dips fukking with them.

- What are you basing this off of? It's a great way to limit tax for high earners. You can also buy stocks in a Roth account.

 

[FabTrey]

Bruh, you got 40 stocks, A 401k, and a IRA? Man, you're shyt is all the way watered down.

for traditional 401k or IRA you get to reduce your taxable income breh, so even if you are right on roth(which i doubt) it's good to have these retirement accounts. contributions removes them from your taxable income and thus reduces the taxes you'll pay for the year.

roth's advantage is that it grows tax-free. very simple. pay tax now and cash out tax free later. so it all depends on person's tax bracket now and in the future. higher earners is better off with traditional. most people roth is better.

and the john oliver vid you posted is technically right on 66%. but that's assuming you only get 7% return with 2% fees.

only a complete retard would only get 7% return and pay 2% in fees. but i'm sure there are many of them

 

[Doomsday]

@dora_da_destroyer broke down the advantages behind a 401k and Roth IRA

You are spreading some wild misinformation in here breh. Be careful what you post, never know who might read your post and take it to heart.

There are no advantages. I don't need anyone controlling my destiny AND charging me for it in the process. I can make more money on my own and not be punished for it. Only scary nikkas who don't trust their decision making need an account that they ignore for 30 years. You can do that with any brokerage.

Ain't no one in here paying financial advisors a 2% fee

Keep thinking that.

 

[Reign X]

- watched the John Oliver video. Fee’s over the long run is what pushed me to learn and invest myself. At the minimum people should skip advisors and grab an index fund. With some guidance from online and a person or two that knows their shyt. I got a business degree, to others this is all foreign and they don’t put time into it or think about it other then trusting their bank.

Guess Canada and america got similar accounts.

We got a tax free savings account, but you can only contribute about 5k a year. It’s the best overall option.

Past that and you have an rrsp account which is supposed to be a retirement account. You can defer taxes and put money in, grow that money tax free but when withdrawing have to pay tax.

Or just a regular account but believe we may have capital gains advantage. Don’t think we have to hold stocks for a year to qualify for capital gains rate.

 

[Kal El]

There are no advantages. I don't need anyone controlling my destiny AND charging me for it in the process. I can make more money on my own and not be punished for it. Only scary nikkas who don't trust their decision making need an account that they ignore for 30 years. You can do that with any brokerage.




Keep thinking that.

Do some more research.

Only a small percentage of people actually getting bent over by financial advisors. Most people are controlling their own portfolios.

 

[Doomsday]

Do some more research.

Only a small percentage of people actually getting bent over by financial advisors. Most people are controlling their own portfolios.

Don't need a financial advisor.

 

[Dusty Bake Activate]

man you need to get your ass in this thread and start making some of the easiest money of your life.

Plus we could use your help researching some of the emerging pharma / bio tech companies.


The most explosive ETF of the year, is based on innovative companies in the biotech / genome sector.

Its ticker symbol is ARKG, it's up over 140% ytd

ARKG - Genomic Revolution ETF | Where Healthcare Meets Technology

Man I wouldn’t know where to start. I haven’t made a trade since like 2013. You gonna coach me up?