Boiler Room: The Official Stock Market Discussion

[FabTrey]

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.

My wife for example when she was working - she maxes out yearly 401k contributions at 18k and it reduces her taxable income and then company matches which is like 6k a year.

And I picked her vanguard funds which has a dirt cheap expense ratio.

She would be foolish to turn down the company match and reduce taxes.

 

[dora_da_destroyer]

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.

Who is controlling your destiny with these options? My 401k, my employer pays all administrative fees, I only pay expense ratios which I’d pay any account where I invested in ETF/mutual funds - as is the case for most people. I’m also being matched @ 50% with immediate vesting - that’s a free 9750/yr from my employer - plus I’m able to lower my taxable income by 20k - these are all wins.

Yes, you’re only limited to the funds in your plan, but there is no requirement to use an advisor and there’s usually a decent growth option in every plan and definitely an S&P/total stock market fund so you’re at least moving with the market. I’m in VITAX which is up 38% this year...again, where is the loss in stashing money tax deferred, lowering my tax bill and getting an extra ~10k each year from my employer?

People racking up fees are those who leave a job and keep their 401k with their old employers and have to pay the admin fee or people who pick multiple high fee funds

As for IRA’s, they are the same, tax efficient, no fees, you trade however you like whatever securities you like...but you can only add 6k/yr

people most definitely should fund their 401k to the point they get the full employer match (if there is one), max out an IRA, then either go back and max out their 401k and/or add to an brokerage account.

 

[Reign X]

As for IRA’s, they are the same, tax efficient, no fees, you trade however you like whatever securities you like...but you can only add 6k/yr

people most definitely should fund their 401k to the point they get the full employer match (if there is one), max out an IRA, then either go back and max out their 401k and/or add to an brokerage account.

thanks, I got it now. Rrsp=401k, tfsa=ira

then the advice you posted at end is the plan I ended up at. But I got no employee match and am jealous of people that do, free money.

Max out Ira equivalent. I don’t make a ton of money now, so after that I mostly go brokerage over 401k equivalent but put some in 401k.

 

[Arithmetic]

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.

 

[Serious]

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

Sure man....

Just follow certain aspects of the thread and ask questions.

Like I said, your insights would be greatly appreciated around here, since a lot biotech plays are blowing up. You would have the best industry insight here to know whether a company is legit or full of shyt / speculative.

But in general you can't go wrong with Dollar Cost Averaging (DCA) the ARK Series. As well as buying some of their equities, since their buy and sell list is transparent.
ARK Invest | We Believe Innovation Is Key to Growth

 

[Panther]

is this even a real discussion

 

[FabTrey]

I highly recommend to have all of these accounts brehs.

1. 401k (80%ARK, 20% index funds)
2. IRA (ARK)
3. stock account (TSLA, duh)
4. crypto account (ETH, XRP, etc)
5. small trading account (for your itchy finger)
6. Acorn account (to invest spare change automatically)

Save as much as you can and invest in these accounts as much as you can. max your 401k and IRA out.

it doesn't matter what your income level is. Live below your means, and learn to be a financial minimalist. and you'll be able to max it out and still have money left to invest in stocks.

 

[Serious]

Look there's more than one way to do this.

I just want for people to have some sort of vehicle for their money to grow and appreciate.

 

[Serious]

I highly recommend to have all of these accounts brehs.

1. 401k (80%ARK, 20% index funds)
2. IRA (ARK)
3. stock account (TSLA, duh)
4. crypto account (ETH, XRP, etc)
5. small trading account (for your itchy finger)
6. Acorn account (to invest spare change automatically)

Save as much as you can and invest in these accounts as much as you can. max your 401k and IRA out.

it doesn't matter what your income level is. Live below your means, and learn to be a financial minimalist. and you'll be able to max it out and still have money left to invest in stocks.

You really using acorns too?

Damn

 

[Serious]

My wife for example when she was working - she maxes out yearly 401k contributions at 18k and it reduces her taxable income and then company matches which is like 6k a year.

And I picked her vanguard funds which has a dirt cheap expense ratio.

She would be foolish to turn down the company match and reduce taxes.

Yeah that's free money

 

[FabTrey]

You really using acorns too?

Damn

It's very nice

 

[Serious]

Spce down 4 in pm

 

[K-Deini]

Knew I should of grabbed mmedf at 2.84 last week

 

[Rickdogg44]

You really using acorns too?

Damn

If my 401k has ARK....

 

[ExodusNirvana]

Looks like a big green day today