Etrade mortgages
Help to diversify away from AAPL
2024.05.03 17:17 sublen Help to diversify away from AAPL
I have a very healthy amount of AAPL shares...and I'd like to diversify. I see posts often saying to put that money into S&P, among others. AAPL is finally on the rise again so now seems like the time to make a move.
I have no high interest debt, just a low interest mortgage. Reserve funds are good. 401k is in good shape. 45 years old. I just want to take 50-100k and get it somewhere to offset any potential AAPL losses and maybe see a slow gain.
Also, feel free to talk to me like I'm 12. I've made plenty of mistakes buying and selling the wrong shares in my life! I have an eTrade account, if it matters.
submitted by sublen to investing [link] [comments]
I have no high interest debt, just a low interest mortgage. Reserve funds are good. 401k is in good shape. 45 years old. I just want to take 50-100k and get it somewhere to offset any potential AAPL losses and maybe see a slow gain.
Also, feel free to talk to me like I'm 12. I've made plenty of mistakes buying and selling the wrong shares in my life! I have an eTrade account, if it matters.
2024.03.09 07:26 Agent666-Omega Financial Overview App Recommendations
Background
So I want to preface why I didn't use the term budgeting app. It's because I could care less about the budgeting feature. I don't mind dabbling into it, but the main problem I am trying to solve is getting an high level overview of all my accounts. This includes:
So far I've had some recommendations for Rocket Money and Monarch. With another friend recommending Credit Karma. I'm currently leaning Monarch because of it's better UI. But I know more friends who have Rocket Money. I also read online that Monarch Money is better for financial tracking but Rocket Money is better for investment tracking. What are people's thoughts on the 3 options presented?
I am also open to other options as well
submitted by Agent666-Omega to personalfinance [link] [comments]
So I want to preface why I didn't use the term budgeting app. It's because I could care less about the budgeting feature. I don't mind dabbling into it, but the main problem I am trying to solve is getting an high level overview of all my accounts. This includes:
- Checking
- HYSA
- 401k
- Brokerage (Schwab, Morgan Stanley, ETrade, etc)
- Coinbase
- Mortgage
- Credit Card
So far I've had some recommendations for Rocket Money and Monarch. With another friend recommending Credit Karma. I'm currently leaning Monarch because of it's better UI. But I know more friends who have Rocket Money. I also read online that Monarch Money is better for financial tracking but Rocket Money is better for investment tracking. What are people's thoughts on the 3 options presented?
I am also open to other options as well
2024.03.01 19:38 Tasha_3989 34, single parent w/ Home Equity, ready to expedite my retirement savings
34f single mom, working professional… went through a divorce 2 years ago. I got the house so I sold it since I had to get it out of my ex’s name and bought another one for my daughter and I. This is my financial overview — my goal is to save as much as possible for retirement.
…And my question is whether it is at all smart to sell my home and just rent? My mortgage is $4300 a month + $140 HOA… and I can for sure rent a home for less than that. I am playing with the idea of cashing out and seeing all that money grow… it would give me such a head start in my retirement journey. I love owning my home but financially want to consider all the options.
As of 2/29/24 I have a total of $167,365 - Checking account: $5000 - Empower 401k: $13,877 (can no longer contribute per my company rules) - Empower deferred comp: $32,897 (I contribute to this now since I cannot contribute to my company’s 401k due to making over a certain amount) - Fidelity IRA: $29,060 (I max this out each year) - ETrade: $2,079 (contributing $500 a month) - HSA: $636 (plan to max out this year) - Chase savings: $10,000 - HYS emergency fund: $60,000 - HYS home reno fund: $13816 (contributing $850 a month)
Home: (interest rate is 6.375%) - Owe $630k - Valued at $1.17M
Yearly Income: $147,000 salary $25,000 child support $35,000 alimony (ends 4/2026)
submitted by Tasha_3989 to personalfinance [link] [comments]
…And my question is whether it is at all smart to sell my home and just rent? My mortgage is $4300 a month + $140 HOA… and I can for sure rent a home for less than that. I am playing with the idea of cashing out and seeing all that money grow… it would give me such a head start in my retirement journey. I love owning my home but financially want to consider all the options.
As of 2/29/24 I have a total of $167,365 - Checking account: $5000 - Empower 401k: $13,877 (can no longer contribute per my company rules) - Empower deferred comp: $32,897 (I contribute to this now since I cannot contribute to my company’s 401k due to making over a certain amount) - Fidelity IRA: $29,060 (I max this out each year) - ETrade: $2,079 (contributing $500 a month) - HSA: $636 (plan to max out this year) - Chase savings: $10,000 - HYS emergency fund: $60,000 - HYS home reno fund: $13816 (contributing $850 a month)
Home: (interest rate is 6.375%) - Owe $630k - Valued at $1.17M
Yearly Income: $147,000 salary $25,000 child support $35,000 alimony (ends 4/2026)
2024.02.02 23:53 BigAntelope11 We got lucky a couple of times, I suppose, but would like more financial structure as we are getting older
I am really not sure how we ended up with nearly10MM net worth but we did. I mainly invested in 10 stocks some 15 years ago + stock options at my former firm were generous.
Current situation:
I am 41, husband is 52
2 kids (16 and 15)
Moved to SF Bay from Az 2 yrs ago to be near husband's family and help them.
Finances:
Non-retirement: 6MM, 50% of which still sits in my former employer stock (FAANG) via RSUs and ESPP, 25% in cash and 25% in various stocks (tech, pharma, a variety...I just randomly invested a while back)
Retirement (various IRAs): 900k
House: Worth about 2.5MM (no mortgage)
Other accounts: We have combined 100k in HSA and kids' college accounts (I am ok to fund college out of pocket)
Would really love to find a good advisor to help with the cash amount which is currently earning under 5% in a high yield account. Etrade offered help but I did not like their idea (to put all the cash into a bunch of funds). Have about 1.5MM to invest (or just let sit as it has been but seems like it's not clever)
Seems we should have some in bonds, maybe munis? No idea really. I have heard there are tax benefit to munis but it's all Spanish village to me and no idea how to buy those.
I am not very financially savvy and most advisors seem predatory (wanted to sell me insurance or some weird investment in real estate in Detroit...stuff like that).
As far as expenses, we will go through about 150k/annually after taxes assuming we will pay for our own health insurance starting in March (assume 2.5k/mo for health and dental). Taxes will be different going forward as both husband and I recently switched to lower-paying, part-time jobs to reduce stress (we're making combined 130k now, which is a fraction of what we made before, but happier now).
I don't have many friends who have the same amount of $$ so unsure how to go about finding a solid, for fee advisor. Trust Google to find one? The main concern is the investment of cash but I am chicken to go about it ourselves as we're both just guessing, and honestly, we made money by being lucky (worked hard, too, but mainly lucky). I had a very non-technical roles in big firms so that helped, too. Now I work with dogs and cats and know less than my kids about investments.
Would love to pay someone to figure out all the details and just tell me what to do. Feel like we need structure now that we earn less and could possibly stop working when kids go to college (3 years).
If the advisor could do our taxes, even better.
Thank you!!
submitted by BigAntelope11 to fatFIRE [link] [comments]
Current situation:
I am 41, husband is 52
2 kids (16 and 15)
Moved to SF Bay from Az 2 yrs ago to be near husband's family and help them.
Finances:
Non-retirement: 6MM, 50% of which still sits in my former employer stock (FAANG) via RSUs and ESPP, 25% in cash and 25% in various stocks (tech, pharma, a variety...I just randomly invested a while back)
Retirement (various IRAs): 900k
House: Worth about 2.5MM (no mortgage)
Other accounts: We have combined 100k in HSA and kids' college accounts (I am ok to fund college out of pocket)
Would really love to find a good advisor to help with the cash amount which is currently earning under 5% in a high yield account. Etrade offered help but I did not like their idea (to put all the cash into a bunch of funds). Have about 1.5MM to invest (or just let sit as it has been but seems like it's not clever)
Seems we should have some in bonds, maybe munis? No idea really. I have heard there are tax benefit to munis but it's all Spanish village to me and no idea how to buy those.
I am not very financially savvy and most advisors seem predatory (wanted to sell me insurance or some weird investment in real estate in Detroit...stuff like that).
As far as expenses, we will go through about 150k/annually after taxes assuming we will pay for our own health insurance starting in March (assume 2.5k/mo for health and dental). Taxes will be different going forward as both husband and I recently switched to lower-paying, part-time jobs to reduce stress (we're making combined 130k now, which is a fraction of what we made before, but happier now).
I don't have many friends who have the same amount of $$ so unsure how to go about finding a solid, for fee advisor. Trust Google to find one? The main concern is the investment of cash but I am chicken to go about it ourselves as we're both just guessing, and honestly, we made money by being lucky (worked hard, too, but mainly lucky). I had a very non-technical roles in big firms so that helped, too. Now I work with dogs and cats and know less than my kids about investments.
Would love to pay someone to figure out all the details and just tell me what to do. Feel like we need structure now that we earn less and could possibly stop working when kids go to college (3 years).
If the advisor could do our taxes, even better.
Thank you!!
2024.01.26 13:17 Successful_Energy ESPP - Hold or Sell
Hi,
I started working for a US company a few years ago and signed up to their ESPP scheme (locked in price for 2 years with a minimum of a 15% discount).
Anyhow, fast forward to 2024, I've paid my taxes on the ESPP, completed the RTS01 form etc, however, I've never sold any.
My shares are made up of 88% ESPP and around 12% RSU, I have around the value of €105k (I've been putting a certain percentage from my salary towards ESPP). The share price has doubled from when I first signed up to the ESPP scheme.
I've always thought of my ESPPs (etrade account) as my pension pot hence the reason for never selling any. I currently pay into my pension plan at work 26% of my salary and my work will pay 7%. I currently pay 15% of my salary into ESPP.
I've no dependants, no mortgage, no outstanding loans etc. I paid off my mortgage a few years back by living very frugal life (I also started working at the age of thirteen in a local chipper). My first big purchase for myself was the new Samsung S24 yesterday.
I also have a second property (I purchased at around 2010/2011), which is also paid off and I rent the 4-bedroom house out for €650 per month to the same people for the last 8 years. I've no plans of putting the rent up as the tenants give me no hassle and look after the property very well. (the house next door rents out for €1250). I spend a lot of the rental money back into the property on a yearly basis (In a few years I will need to replace the windows etc), from painting the outside, inside, new bedroom furniture, general maintenance etc. I'll replace the oil burner this year too.
I've €3k in my saving account (I just paid a tax bill for the ESPP for €3200, otherwise I would have more in my savings account).
Anyhow, back to the question in hand, should I sell my ESPPs or hold onto them?
submitted by Successful_Energy to irishpersonalfinance [link] [comments]
I started working for a US company a few years ago and signed up to their ESPP scheme (locked in price for 2 years with a minimum of a 15% discount).
Anyhow, fast forward to 2024, I've paid my taxes on the ESPP, completed the RTS01 form etc, however, I've never sold any.
My shares are made up of 88% ESPP and around 12% RSU, I have around the value of €105k (I've been putting a certain percentage from my salary towards ESPP). The share price has doubled from when I first signed up to the ESPP scheme.
I've always thought of my ESPPs (etrade account) as my pension pot hence the reason for never selling any. I currently pay into my pension plan at work 26% of my salary and my work will pay 7%. I currently pay 15% of my salary into ESPP.
I've no dependants, no mortgage, no outstanding loans etc. I paid off my mortgage a few years back by living very frugal life (I also started working at the age of thirteen in a local chipper). My first big purchase for myself was the new Samsung S24 yesterday.
I also have a second property (I purchased at around 2010/2011), which is also paid off and I rent the 4-bedroom house out for €650 per month to the same people for the last 8 years. I've no plans of putting the rent up as the tenants give me no hassle and look after the property very well. (the house next door rents out for €1250). I spend a lot of the rental money back into the property on a yearly basis (In a few years I will need to replace the windows etc), from painting the outside, inside, new bedroom furniture, general maintenance etc. I'll replace the oil burner this year too.
I've €3k in my saving account (I just paid a tax bill for the ESPP for €3200, otherwise I would have more in my savings account).
Anyhow, back to the question in hand, should I sell my ESPPs or hold onto them?
2023.11.28 00:56 Left_Zone_3486 Updated portfolio allocation
I made a post earlier this month using divtracker, decided to just use screenshots from my etrade app this time (it's been called pandemic ever since plague Inc came out over a decade ago.)
My positions; ABR: 2643 JEPI: 500 JEPQ: 4100 MO: 727 O: 1770 RIOT: 9000 (should be getting called away this week, gonna put that money into VOO most likely) SCHD: 1600 USFR: 1836 (emergency fund mostly) VOO: 100 (I know it's pointless to have both VTI and VOO, had a CSP not go my way and I don't really care that I have both) VTI: 225
I am 34 and decided that I was ready for the FIRE life, I enjoyed my last job...but defense contractor gigs in Iraq and Africa are dwindling (at least the job I was doing)
I used to be much bigger into real estate investing, but now I'm just sitting on a 4 plex, duplex, and my primary residence.
I owe 300k in total mortgage debt at 2.75%. My gross rental income is 71k annually.
I also have 80% VA disability, should be going up to 90% or hopefully 100% soon. Currently get $2100 a month and free medical.
Starting college next year and GI Bill will pay me $2000 a month for the duration.
My total passive income is 142k a year (will be 166k while doing college), but I also consistently make at least 5k a month selling options, thetagang is my biggest hobby.
If you read this far, this wasn't meant to just show off, I grew up in a single parent household on food stamps and government housing. My mom worked 12 hours a day to make ends meet. I enlisted in the air force at 18 and stayed in for 11 and a half years, during which tike I purchased multifamily rentals and remained frugal. I've never received an inheritance or any money from family...in fact I'm the one who supports a few of them. I was extremely fortunate to live in LCOL areas during a great decade to buy properties. I treat all my tenants with respect and take care of issues immediately...plus I haven't jacked up my rents like everyone else has this year.
submitted by Left_Zone_3486 to dividends [link] [comments]
My positions; ABR: 2643 JEPI: 500 JEPQ: 4100 MO: 727 O: 1770 RIOT: 9000 (should be getting called away this week, gonna put that money into VOO most likely) SCHD: 1600 USFR: 1836 (emergency fund mostly) VOO: 100 (I know it's pointless to have both VTI and VOO, had a CSP not go my way and I don't really care that I have both) VTI: 225
I am 34 and decided that I was ready for the FIRE life, I enjoyed my last job...but defense contractor gigs in Iraq and Africa are dwindling (at least the job I was doing)
I used to be much bigger into real estate investing, but now I'm just sitting on a 4 plex, duplex, and my primary residence.
I owe 300k in total mortgage debt at 2.75%. My gross rental income is 71k annually.
I also have 80% VA disability, should be going up to 90% or hopefully 100% soon. Currently get $2100 a month and free medical.
Starting college next year and GI Bill will pay me $2000 a month for the duration.
My total passive income is 142k a year (will be 166k while doing college), but I also consistently make at least 5k a month selling options, thetagang is my biggest hobby.
If you read this far, this wasn't meant to just show off, I grew up in a single parent household on food stamps and government housing. My mom worked 12 hours a day to make ends meet. I enlisted in the air force at 18 and stayed in for 11 and a half years, during which tike I purchased multifamily rentals and remained frugal. I've never received an inheritance or any money from family...in fact I'm the one who supports a few of them. I was extremely fortunate to live in LCOL areas during a great decade to buy properties. I treat all my tenants with respect and take care of issues immediately...plus I haven't jacked up my rents like everyone else has this year.
2023.10.04 22:14 RynoZeppelin For those with Etrade Debit Cards & Checking accounts -- sounds like theres a lot of accounts getting hit with fraud transactions
For those with Etrade Debit Cards & Checking accounts -- sounds like theres a lot of accounts getting hit with fraud transactions -- so make sure you check your accounts.. I had 40 --- I woke up yesterday 10/3, checked my balance and instantly called them -- and while we were on the call locking my debit card many more came in. 20 small and large transactions with PAG in the name and then 20 foreign transaction fees.
Yes my account was drained -- and working to get the funds back. Also working with my mortgage company to redraw my mortgage. Fun.
I'm not sure if this is a data leak or not. I know I barely use my debit card and have it in my possession.
From multiple calls I've heard twice it's happening to others -- most aren't as bad.
Merchant names look like this "Location: PAG*CarlotaMariaLins Sao Paulo BR"
submitted by RynoZeppelin to etrade [link] [comments]
Yes my account was drained -- and working to get the funds back. Also working with my mortgage company to redraw my mortgage. Fun.
I'm not sure if this is a data leak or not. I know I barely use my debit card and have it in my possession.
From multiple calls I've heard twice it's happening to others -- most aren't as bad.
Merchant names look like this "Location: PAG*CarlotaMariaLins Sao Paulo BR"
2023.10.03 21:48 HomeAsleep6146 List of Ongoing Issues
Below is a list of ongoing accounts that won't connect correctly with Quicken. I have submitted multiple bug reports with sanitized data and nothing has gotten fixed in 3-4 months (I always perform the latest updates/upgrades). Does anyone know of a good Quicken alternatives? Quicken support seems to want to blame 3rd party financial institutions for the fact that their software doesn't work properly and it's frankly making me not want to fork over more dollars when my subscription expires.
submitted by HomeAsleep6146 to quicken [link] [comments]
- Fidelity 401k
- Etrade Brokerage Account
- Northpoint Bank Mortgage
2023.10.02 05:36 Old_Importance_4614 Please help me write and ELI5...
Looking for outside opinion on ability to purchase home and live without too much financial stress. Currently own townhome in Denver, CO (Purchased 2021 @ 3.0% interest @ 440,000$). We are quickly outgrowing our town house and would both like to live in a larger single resident home. Now, this is where some opinions differ. It is one belief that we are better off stacking cash in a HSA for the near future till there is a either a lowering of rates and/or (hopefully) some easing of housing prices. Now, that being said, yes, this is under the understanding that decreased rates will probably bring more buyers into the market and create increased competition in the local market. On the other side, would it be better to purchase a home at the current mortgage rates to get a house at a theoretically lower cost, and refinance later. I have gone in circles on this for months and dont even know what to think, and would love to hear other outside opinions. It's my though that I would be uncomfortable at anything more than 3200'ish a month. Any thoughts would be appreciatted, thanks.
submitted by Old_Importance_4614 to personalfinance [link] [comments]
- Joint Income - 200k (100k each)
- Debt - 490k (390k Mortgage/100k Student Loans)
- Mortgage (2600/month including HOA/Util/Ins)
- Other Monthly Expenses (groceries/Spending/gas/etc/lots of travel recently, wedding szn) - 1.2-2k ish
- Retirement Contributions - ~20%/20k per year each + full IRA 6500 +small etrade account at 5k ish
- Other savings
- 54k hard cash in HYSA (Stacking cash for down payment on house)
- 210k in retirement (Vanguard/401k/Brokerage)
- 60-70k in equity in home
2023.09.04 09:21 Own-Independence6867 Best way to convert USD 50k into CAD?
I am planning on selling company stock for mortgage lump sum on renewal. I have about 50k through etrade brokerage that I will wire to my wise USD account. Is converting to CAD through Wise a good choice?
Cheers.
submitted by Own-Independence6867 to PersonalFinanceCanada [link] [comments]
Cheers.
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2023.07.21 15:28 CartographerSad3517 No longer in the market for a new house, what to do with this liquid down-payment I've been saving? (clarity on the last step of The Flow Chart)
TLDR: Looking for specific advice on WHERE to invest non-retirement funds to be retrieved between 5-10 years. Schwab? ETrade? Merril Edge? Vanguard? Some sort of market fund vs individual companies?
Longer Description:
So we've saved a large sum of money over several years (>200k) in a HYSA with the expectation of buying a new house, but we've finally decided we really can't leave our 2.3% interest rate on our current home, as much as we'd love to upgrade our space and location. The problem is now that we don't need to have this money on hand within a 1-2 year period, what should we be doing with it? Note that 401k is already budgeted to be maxed out each year, and we have no other debt outside of the current low-interest mortgage.
We know the general flow for excess cash is:
Additional info: We're also looking to change bank and credit card providers right now, on top of investing. Currently leaning towards Bank of America + investing in a Merrill Edge acct in order to use the Preferred Rewards Program increase to select BoA credit cards, but we're happy to hear if there is a better package for what we're looking for.
submitted by CartographerSad3517 to personalfinance [link] [comments]
Longer Description:
So we've saved a large sum of money over several years (>200k) in a HYSA with the expectation of buying a new house, but we've finally decided we really can't leave our 2.3% interest rate on our current home, as much as we'd love to upgrade our space and location. The problem is now that we don't need to have this money on hand within a 1-2 year period, what should we be doing with it? Note that 401k is already budgeted to be maxed out each year, and we have no other debt outside of the current low-interest mortgage.
We know the general flow for excess cash is:
- 6 months of income replacement in HYSA
- Buy I-Bonds every year when able
- **Invest the rest**
Additional info: We're also looking to change bank and credit card providers right now, on top of investing. Currently leaning towards Bank of America + investing in a Merrill Edge acct in order to use the Preferred Rewards Program increase to select BoA credit cards, but we're happy to hear if there is a better package for what we're looking for.
2023.06.27 04:13 Put-Visible For the purchase of my next home should I take out a portfolio line of credit, take out a VA loan, or buy cash?
I've researched a lot on this topic a bit, but I'm looking for an out of the box solution to maximize my earning potential.
I'm moving for work and my wife and I are currently house shopping. We make about 450k combined. Our budget will be from 600-700k. I have enough money to buy cash, and part of me wants to do it for ease of mind, but it would pretty much wipe us out. I have most of that invested in an all stock Betterment account (we've made about 12% over the last 5 or so years on average). Our FIRE goal is 3.4 mil in 5-12 years depending on how our investments do. No debt, maxed 401ks (we don't qualify for an IRA anymore), 6+ months cash savings for emergency fund.
I qualify for a VA loan with and 800+ credit my interest rate is still at about 7%. So I'm not super excited to take out that loan and I'm looking to see if someone has any better ideas for someone in my situation.
Options (that I can think of):
HELOC - This option I like the least. I considered paying cash then immediately taking out a HELOC to buy stocks with. What I don't like most is that the interest rate is variable (3-11% looks to be average) so unless I'm maintaining 12% YoY on my portfolio I could find myself in a situation where I'm making less on stocks than I am on paying interest. Plus I couldn't get a grasp on how the cash dispersal/repayment works. Not sure if this is even viable.
Portfolio line of credit - I like this one, and from what I can gather, this is how rich people never buy anything cash. Two issues I see here are the interest rates and the total cash needed to take out enough for the house.
The interest seemed to be about 7-10% based on the fees from Wealthfront and Etrade, but I feel as if this is higher than what I hear about people getting for PLOCs on reddit. Am I missing something? The second issue is, from what I can tell, you can only take a loan on a certain percentage of your portfolio. Charles Schwab doesn't seem to have a percentage limit, but maybe I missed that. This may be a more appetizing option a few years down the road when we have a bigger portfolio.
VA Loan - Keep my money invested and just get the loan. I'm leaning here, but it just seems like there should be something better out there for someone in my position. 7% isn't great compared to what we've seen in the past few years, but it's that best I got right now.
Buy Cash - Peace of mind is great, but the numbers just don't add up.
Considerations:
Taxes - We're high income earners so the deductions in mortgage interest to our taxes are considerable.
Risk - Without going into too much detail, both my wife and I essentially have two careers each that are totally separate from one another making 100-125k per job. If both of us lose a job, we still make 250k combined. Our risk tolerance is extremally high. I'm 31 and she's 32. 5-12 years is a big gap in expected FIRE timeline because we're the high risk, high rewards type of people. It's worked very well for us most days and terrible for us some days, but overall it's working. I don't mind taking on big risk because we're so young it's highly likely we will get to FIRE before 50 no matter what. Taking risk is worth it to us if we even have a chance to get as close to that 5 year mark as possible.
People smarter than me, what am I missing?
submitted by Put-Visible to Fire [link] [comments]
I'm moving for work and my wife and I are currently house shopping. We make about 450k combined. Our budget will be from 600-700k. I have enough money to buy cash, and part of me wants to do it for ease of mind, but it would pretty much wipe us out. I have most of that invested in an all stock Betterment account (we've made about 12% over the last 5 or so years on average). Our FIRE goal is 3.4 mil in 5-12 years depending on how our investments do. No debt, maxed 401ks (we don't qualify for an IRA anymore), 6+ months cash savings for emergency fund.
I qualify for a VA loan with and 800+ credit my interest rate is still at about 7%. So I'm not super excited to take out that loan and I'm looking to see if someone has any better ideas for someone in my situation.
Options (that I can think of):
HELOC - This option I like the least. I considered paying cash then immediately taking out a HELOC to buy stocks with. What I don't like most is that the interest rate is variable (3-11% looks to be average) so unless I'm maintaining 12% YoY on my portfolio I could find myself in a situation where I'm making less on stocks than I am on paying interest. Plus I couldn't get a grasp on how the cash dispersal/repayment works. Not sure if this is even viable.
Portfolio line of credit - I like this one, and from what I can gather, this is how rich people never buy anything cash. Two issues I see here are the interest rates and the total cash needed to take out enough for the house.
The interest seemed to be about 7-10% based on the fees from Wealthfront and Etrade, but I feel as if this is higher than what I hear about people getting for PLOCs on reddit. Am I missing something? The second issue is, from what I can tell, you can only take a loan on a certain percentage of your portfolio. Charles Schwab doesn't seem to have a percentage limit, but maybe I missed that. This may be a more appetizing option a few years down the road when we have a bigger portfolio.
VA Loan - Keep my money invested and just get the loan. I'm leaning here, but it just seems like there should be something better out there for someone in my position. 7% isn't great compared to what we've seen in the past few years, but it's that best I got right now.
Buy Cash - Peace of mind is great, but the numbers just don't add up.
Considerations:
Taxes - We're high income earners so the deductions in mortgage interest to our taxes are considerable.
Risk - Without going into too much detail, both my wife and I essentially have two careers each that are totally separate from one another making 100-125k per job. If both of us lose a job, we still make 250k combined. Our risk tolerance is extremally high. I'm 31 and she's 32. 5-12 years is a big gap in expected FIRE timeline because we're the high risk, high rewards type of people. It's worked very well for us most days and terrible for us some days, but overall it's working. I don't mind taking on big risk because we're so young it's highly likely we will get to FIRE before 50 no matter what. Taking risk is worth it to us if we even have a chance to get as close to that 5 year mark as possible.
People smarter than me, what am I missing?
2023.05.21 20:14 WubWubSleeze Weighing Options: Traditional 401K + Roth 401K + Roth IRA? Or dump the Roth 401K?
Howdy FI community, looking for perspectives on my current litany of retirement accounts & considering options.
Basic facts: 38 years old, ~$125K Income. ~$725K NW. No kids/spouse. Low/medium COL city.
Retirement goals unclear: I'd like to retire early, I know that much. But I also like working and would go crazy if I wasn't busy. Always thought maybe I'd start a small lifestyle business of some sort after I leave corporate grind.
My employer used to match 15% 401K, and I enjoyed ~8 years of 15% match! They recently stopped and now match 6%, + a quarterly performance 401K contribution. 401K fully vested.
As such, I always put 15% in my 401K. When the match reduced to 6%, I kept my contribution at 15%.
In 2019, they added the option for Roth 401K. Since 2020, I've put 10% (+6% match) in traditional 401K & the other 5% in Roth 401K. (Noteworthy: income in 2019 was much less. About $85K.)
For tax year 2021, I also opened a Roth IRA at ETrade. I've put the annual $6K max in for '21, '22, '23. I planned to continue doing this as long as I can.
All that to say, I'm considering cancelling Roth 401K contributions of 5% and instead putting the full 15% in traditional 401K. I figured I'd a see small increase in take home pay, lower tax liability, and more $'s to compound in the traditional 401K. (My tax situation not great: no kids/spouse & not enough mortgage interest to deduct.)
I'd be interested to hear the FI's communities thoughts: Is there any benefit I'd miss by changing that 5% Roth 401K Contribution to traditional 401K since I've got the Roth IRA at Etrade?
submitted by WubWubSleeze to financialindependence [link] [comments]
Basic facts: 38 years old, ~$125K Income. ~$725K NW. No kids/spouse. Low/medium COL city.
Retirement goals unclear: I'd like to retire early, I know that much. But I also like working and would go crazy if I wasn't busy. Always thought maybe I'd start a small lifestyle business of some sort after I leave corporate grind.
My employer used to match 15% 401K, and I enjoyed ~8 years of 15% match! They recently stopped and now match 6%, + a quarterly performance 401K contribution. 401K fully vested.
As such, I always put 15% in my 401K. When the match reduced to 6%, I kept my contribution at 15%.
In 2019, they added the option for Roth 401K. Since 2020, I've put 10% (+6% match) in traditional 401K & the other 5% in Roth 401K. (Noteworthy: income in 2019 was much less. About $85K.)
For tax year 2021, I also opened a Roth IRA at ETrade. I've put the annual $6K max in for '21, '22, '23. I planned to continue doing this as long as I can.
All that to say, I'm considering cancelling Roth 401K contributions of 5% and instead putting the full 15% in traditional 401K. I figured I'd a see small increase in take home pay, lower tax liability, and more $'s to compound in the traditional 401K. (My tax situation not great: no kids/spouse & not enough mortgage interest to deduct.)
I'd be interested to hear the FI's communities thoughts: Is there any benefit I'd miss by changing that 5% Roth 401K Contribution to traditional 401K since I've got the Roth IRA at Etrade?
2023.05.02 00:52 One_Elderberry_4482 Look for Advise
Hey there, I’m new to FIRE and would appreciate any feedback on my situation. I also recently inherited $250k from my father after he passed and I’m not sure what to do with that. I’m also curious about the advise I see often here to max out 401k contributions - does this usually mean maxing out the employer match or the federally allowable annual contributions? Also, any advise on what to do with $100k in RSUs once they vest (vest rate is 25% annually and fully vested after 4 years).
My asset details are below. Happy to add any additional info - first time posting so I’m not sure what other information may be helpful:
submitted by One_Elderberry_4482 to Fire [link] [comments]
My asset details are below. Happy to add any additional info - first time posting so I’m not sure what other information may be helpful:
- Live in HCOL area.
- Current monthly expenses: $4,000
- Maxing out employer match on 401k (6% from me and 5% from employer)
- Annual income: $130,000
- one Single Family home rental property with a slightly positive cash flow after rent is paid and expenses are considered (4.125% interest in mortgage). Will be paid off in 20 years without making any extra payments. Home has appreciated almost 3x since initial purchase and I would love to sell it but don’t want to pay capital gains tax and not sure where I would put the profit from sale
- mortgage on current single family home will be paid off in 24 years if I don’t make extra payments (3.125%)
- $200k in a HYSA with 4.2% interest rate (from my recent inheritance)
- $100k in 401k target fund
- ~$8k in HSA and maxing out yearly
- contributing 5% annually to company stocks in ETrade (at discounted rate)
- paid off vehicles
- no other debt
2023.04.27 21:50 rsohlot It's Wednesday my doods
 | submitted by rsohlot to u/rsohlot [link] [comments] |
2023.04.25 22:46 Diligent-Working8 Are we doing ok? - investing critique desired
Throwaway account. I would love some perspective/thoughts on how we are doing investing/saving wise. I seem to daily oscillate between "we are doing ok" and "yeah but you should be doing soooo much better, shame on you".
Basics: 2 working parents aged 44,43 Income $450k combined - gross 2 kids 15,12 Central NY
Debt: - About $200k left on house probably worth $600k. 15 year mortgage, 3.5% interest (approx). Pay approx $3600 per month between mortgage and taxes.
- About $20k on a student loan. This is like 1.5% interest so really no hurry to pay this off
- We have about a year left on a 5 year car loan, other car is paid in full
Assets:
- Home equity ~$400k
- His 401k - $550k
- Her 401k - $600k
- 529 $100k
- eTrade / After Tax Mutual Funds - $525k
- old Roth $20k (I dont do this anymore because income is too high)
Every Year:
- $21k each 401k
- $10k 529
- $75k+ mutual funds / investments
Thoughts:
- I grew up lower middle class, comfortable, but finances got tough as my parents got older and they eventually had to declare bankrucy and move into an apartment - so I am perhaps a bit more concerned than my wife is with saving - she definitely is more the spender, vacations/etc where its a bit of a constant struggle - but needs to be a balance!
- Our income has almost doubled in the last 2-3 years, so it was fairly recently that we made that much and were able to save so much. Before that we were maximizing 401k match, and putting some extra money away on top of 401k but not at the level we are now - more like $10k/year max
- Overall I think we are doing decently and better than most people because of high income... but I worry that we are doing far worse than we should given our circumstances and we should re-evaluate what we are doing to fix that asap! Would love some perspective if we seem to be doing the right things or really need to re-evaluate our decisions here!
submitted by Diligent-Working8 to personalfinance [link] [comments]
Basics: 2 working parents aged 44,43 Income $450k combined - gross 2 kids 15,12 Central NY
Debt: - About $200k left on house probably worth $600k. 15 year mortgage, 3.5% interest (approx). Pay approx $3600 per month between mortgage and taxes.
- About $20k on a student loan. This is like 1.5% interest so really no hurry to pay this off
- We have about a year left on a 5 year car loan, other car is paid in full
Assets:
- Home equity ~$400k
- His 401k - $550k
- Her 401k - $600k
- 529 $100k
- eTrade / After Tax Mutual Funds - $525k
- old Roth $20k (I dont do this anymore because income is too high)
Every Year:
- $21k each 401k
- $10k 529
- $75k+ mutual funds / investments
Thoughts:
- I grew up lower middle class, comfortable, but finances got tough as my parents got older and they eventually had to declare bankrucy and move into an apartment - so I am perhaps a bit more concerned than my wife is with saving - she definitely is more the spender, vacations/etc where its a bit of a constant struggle - but needs to be a balance!
- Our income has almost doubled in the last 2-3 years, so it was fairly recently that we made that much and were able to save so much. Before that we were maximizing 401k match, and putting some extra money away on top of 401k but not at the level we are now - more like $10k/year max
- Overall I think we are doing decently and better than most people because of high income... but I worry that we are doing far worse than we should given our circumstances and we should re-evaluate what we are doing to fix that asap! Would love some perspective if we seem to be doing the right things or really need to re-evaluate our decisions here!
2023.02.01 00:37 COKeefe88 Notes on budgeting, bill reduction, credit card rewards for a new year after saving ~$2k monthly
Hey all,
I've been doing a ton of work on cutting expenses and optimizing credit card rewards in the new year and was looking for a place to share some notes in case it's helpful to someone.
My situation is I own a home with a great mortgage at 2.375%, low-to-middle COL area, married, 5 kids, 2 (old used) cars plus whatever I happen to be working on at the moment as a side gig. Low 6 figure total earnings across my work and some side gigs. Seems like even with all the kids, saving/paying down debt should be easy, but it hasn't been—we've pretty much always lived paycheck to paycheck. Working towards changing that this year.
submitted by COKeefe88 to personalfinance [link] [comments]
I've been doing a ton of work on cutting expenses and optimizing credit card rewards in the new year and was looking for a place to share some notes in case it's helpful to someone.
My situation is I own a home with a great mortgage at 2.375%, low-to-middle COL area, married, 5 kids, 2 (old used) cars plus whatever I happen to be working on at the moment as a side gig. Low 6 figure total earnings across my work and some side gigs. Seems like even with all the kids, saving/paying down debt should be easy, but it hasn't been—we've pretty much always lived paycheck to paycheck. Working towards changing that this year.
- Looking to cut my $85/mo internet bill, I found out for the first time about the Affordable Connectivity Program. Turns out I qualify for that. Additionally I called my provider and cut back to a lower speed plan. Those two changes got me down to $50/mo.
- Cell plan had gotten all the way up to $130/mo for two lines. Switched to different provider, service sucked, so I looked at switching back and am now paying $60/mo. That was a temporary promotional rate for people who'd switched away. But the plan is the same one I was on before...just $70/mo cheaper.
- I opened a few new credit cards for sign-up bonuses, and as cards to keep permanently for rewards. Got the Amex Blue Cash Preferred card. There was a promotion through my etrade account, $400 sign-up bonus for $3k spend. But that card has 6% back on groceries, so we'll keep it indefinitely even with the annual fee.
- And I have to mention the Wells Fargo Active Cash card. That is a newer card with 2% cash back on everything. No categories. We were previously using Cap One Quicksilver (1.5% cashback) as a default card, but Wells Fargo wins this round. I believe that 2% is unparalleled. So we're using a few different cards to optimize rewards, like Costco card for 4% on gas, US Bank Cash+ card for 5% back on utility payments, Amazon card, etc. but the Wells Fargo is the new default card for everything else.
- Shopping better. Less Amazon. Don't assume Amazon is the cheapest price even if you're buying something online. More Walmart, maybe more Costco, definitely more Aldi, less small/local grocery store shopping.
- Lifestyle changes—in 2022, we spent about $15,500 on groceries, not counting a few thousand more on alcohol and a few thousand more on eating out. We've been much more selective/planning ahead about eating out and entertainment options, and doing much better with meal planning. Our local small town grocery is much more expensive than Costco or Aldi, but those are 30 mins away and I only go that way about every 1-2 weeks. So we've been cooking one or two dishes on the weekend that are economical and can feed the family for most of the week (casseroles, stews), planning our fresh veggie purchases at Aldi better so we don't need to pay inflated prices locally, and buying lots of cheap meat on sale and freezing it. I have three hams that were each $0.89/lb. We've cut out the sparkling water, and weeknight alcohol, and pretty much all seafood. In an area where cheap seafood is $8/lb and pork is easy to find at $2.50/lb. For January we're right around $500 on groceries—barely a THIRD of what we were spending before—and it's pretty sustainable too!
- My wife's guilty pleasure is buying clothes she doesn't need, and my guilty pleasure is getting a burger and a beer while I'm out running errands. We've cut down our budget for these kinds of personal expenses, and we're talking to each other about them more often. My idea there is that more frequent, shorter, informational conversations will help avoid future arguments even if those short conversations are stressful too.
- Honorable mention to one of the things I've always managed well, financially, which is buying and maintaining older used cars. I've learned to do more and more maintenance over the years, but my recommendation to anyone is the same even if you can't do so much as check the oil yourself: buy a 10+ year old, 100k+ mile Honda or Toyota. Via craigslist or marketplace if you can afford to buy cash, otherwise find the car you want online and arrange financing through your bank. My current cars are an 05 Honda Accord with 138k miles and no end in sight, and an 04 Honda Pilot with 248k and no end in sight. I paid $3800 for the Pilot in 2018 with 160k from the original owner, with all the dealer maintenance records included. It might have cost $6k at a used car lot and I would have had less confidence in the maintenance history. But the more important thing is that I have mostly reliable (I admit, not perfectly reliable) transportation, I don't need to have collision or comprehensive insurance so I save a ton there, no worries about someone stealing the car or scratching the paint, and no monthly car payments.
2022.12.01 02:47 pewpewstonks420x69 Your Assets Aren't As Safe as You Think: The False Facade of Insurance Committed by Brokerages with FDIC Sweeps and SIPC Coverage(And how you'll get left behind post-MOASS). The case study for DRS of EVERYTHING - and Associated Self-Custodianship
 | There's quite a few folks that are still on the edge about direct registering their shares. I hope to shed some light on the risks associated in keeping your assets in a (un)trusted custodian, like a bank or brokerage institution. In this post, I plan to cover the following topics: submitted by pewpewstonks420x69 to GMEJungle [link] [comments]
1. Why We Have FDIC Insurance TodayWe've all seen it - any bank out there has "member FDIC" written on all their signs and spoken in their commercials. The FDIC is an official government body (this is important) funded by the US government to insure all bank accounts up to $250,000 in case of a bank default. There is a similar institution in place for credit unions called the NCUA created in 1970 by congress.The origin of the FDIC comes from way back during the Great Depression. In 1929 during the stock market crash, about 650 banks collapsed - another 650+ would fail the next year. Over the course of the Great Depression, 9,000 banks failed, losing depositors $7 billion dollars. That's about $195 billion dollars in today's money. Congress rushed to implement a regulatory fix, and it was proposed in the Banking Act of 1933 - known as the Glass-Steagall Act. In this act, the FDIC was created to insure accounts up to $2,500, then $5,000, then kept being raised throughout the years until today's current limit of $250,000. Another important aspect of the Glass-Steagall Act is that it limited the securities banks could purchase with deposits effectively to government Treasury Bonds, and nothing else: https://www.federalreservehistory.org/essays/glass-steagall-act This separation of commercial and investment banking was removed by the Financial Services Modernization Act of 1999, also called the Gramm-Leach-Bliley Act, effectively allowing banks to gamble consumer deposits on the stock market with equities, debt instruments, and risky derivatives again for the first time since 1933, as long as they kept some form of partial reserve. This act is widely blamed for causing the 2008 GFC - which prompted creation of the Dodd-Frank Act in 2010, which was supposed to reinstate some of the restrictions created in 1933. My opinion: the Dodd-Frank act was all just a big pony show to say "Hey look at us we're doing something!" There's hardly anything of concrete value in it. https://www.investopedia.com/terms/f/financial-services-act-of-1999.asp 2. Parallels with the Crypto World's Meltdown of CEXs, post FTXJust like FTX, BlockFi, and just about every other crypto exchange pre-FTX, stock brokerages have NEVER published their proof of reserves. There's not a shred of evidence out there that any brokerage owns the securities due their customers in full reserve. They could buy every stock 1:1, they could buy a 50% hedge and play with the rest, or they could just be taking all your money and playing hedge fund with it. There's of course, "regulation," where's the mayo Kenny?!? But NEVER!!! concrete evidence that a brokerage firm owns your assets. Even the regulators don't want to see evidence of positions (in this case by swap dealers).For this, we can only equip our tinfoil and hypothesize about the potential risk and outcome. What convinced me of the worst was when Robinhood was issued a $3 billion margin call during the Jan '21 GME run-up. So either 1 of 2 things happened:
At least the top banks are willing to admit they're leveraged upwards of 30 to 1 with a grand total of $200 trillion worth of derivatives liabilities on their balance sheets (Page 18, Table 13) JPow salivating thinking about all the bailouts he's gonna give 3. The SIPC is (kind of) AIG part 2 - Electric BoogalooA quick history on AIG - they were, in the 2008 GFC, one of the providers of Credit Default Swaps. They essentially sold insurance for Collateralized Debt Obligations (CDOs, the infamous dog shit wrapped in cat shit mortgage bonds), providing a payout in case the CDOs went under. Shocker, they did, and guess who couldn't pay up? You guessed it, the insurance provider who didn't have the reserves they promised.You may have noticed that financial institutions like brokerages have "SIPC Insured" plastered all over them like the banks have FDIC. "Your funds are insured!" they say. But to what extent? The US retirement market alone accounts for $37.2 Trillion, $7.3 Trillion of which comes directly from 401ks alone. Almost all of these funds would be held through brokerages. The SIPC should be absolutely loaded to insure these institutions. Right? .. Right? https://www.sipc.org/about-sipc/the-sipc-fund They have $5 billion in cash equivalents and another $2.5 billion on tap through an LOC. Yes, this is with a B, and the above retirement accounts are with a T. And to boot, they're not backed by the US Government, meaning they don't get access to that lovely money printer via the Fed's Infinite QE purchasing treasury bonds. https://www.sipc.org/for-investors/investor-faqs They're short of their obligations by somewhere between 3 TO 5 ORDERS OF MAGNITUDE. This is the Wall Street way of saying "Sorry pal, here's 5 bucks for your troubles." The moment "dumb money" gets wise to the scam, the bank run that will ensue will DWARF the losses (recall: $195 billion in today's money) suffered from the bank defaults in the Great Depression. Also recall, we have not a shred of evidence they're holding any security for any of their clients. 4. FDIC Insured Deposit Sweeps (by Fidelity)This is what got me going down this rabbit hole today. I love the convenience of doing my banking in the same place as most of my investments (sans my DRS'd beloved stonk), so I decided to see if my funds, held in Fidelity's FDIC insured deposit sweep, were actually held in my name. After all, during MOASS, it's likely that every brokerage in the US will go bankrupt, so I wanted to ensure that my FDIC cash accounts were not subject to their bankruptcy proceedings. So I decided to read the fine print for the FDIC insured deposit sweep program and, surprised Pikachu face: Note: NFS is National Financial Services, a subsidiary company of Fidelity Mmmmm tasty custodianship Wrinkles required. I'm taking these legal processes to include bankruptcy proceedings, beyond just account freezes or criminal confiscations Long story short, Fidelity owns your bank accounts too (held via the FDIC sweep program). All subject to confiscation and redistribution by the bankruptcy court. 5. Well Thanks for Spiking my Blood Pressure Bro. Now What Do I Do?Most of the general public will be quick to yell "but muh regulashunnn!" When this giant pile of burning feces comes rocketing toward the markets, as they watch their pensions, 401ks, and other vehicles of life savings evaporate before their eyes.The problem here is that there's human freakin' beings shoved into every nook and cranny of the markets' processes - which allows for corruption on a grand scale. This includes the numerous So how do you protect yourself, since nobody elseSEC, CFTC, DTCC, FINRA, NCSS, OCC will do it for you? (shocker, right?) Get your assets where someone else can't touch 'em.
DRS YOUR DAMN SHARES!This applies to ALL companies you hold in a brokerage account! Anything left registered in your broker's name (which is everything you think you own) will be subject to forfeiture upon a brokerage default, let alone if they're even holding it at all.....But most importantly, DRS our most beloved stonk, $GME. DRS holds shares of a company under YOU DIRECTLY, rather than in "street name" registration for your broker under Cede & Co. Nobody has a damn clue (nor do they care) that you think you own those shares, unless you hold them your very self via DRS. TL;DR: BUY, HODL, DRS. NOT YOUR NAME, NOT YOUR STONKNOT YOUR STASH, NOT YOUR CASHNOT YOUR KEYS, NOT YOUR CRYPTONO PILE O' SHINY, IT'S YOUR HINEY |
2022.11.12 13:42 reckless-saving Weekly FIREUK Blog posts
UK FI blogger posts from the last 7 days
Full list of blogs included in checker - here
For list consideration - Submission form
submitted by reckless-saving to FIREUK [link] [comments]
- Continue the discussion below, any post from the list grabbed your attention this week, made an impression within the context of FIRE, maybe presented additional questions or an opportunity for further discussion here.
Full list of blogs included in checker - here
For list consideration - Submission form
2022.09.26 14:25 UltimateTraders 9/26/2022 Daily Plays, 52 Week lows incoming this week, Lock and loaded with Puts, it is not to late, Will keep with strategy, go long at your own risk, Capital needed, maybe Calls, we will rise again 1 day, not now, 40% which is a crash, is possible! It is all up to earnings, Puts on SNOW GWRE more
Good morning everyone. I wrote a post yesterday [Sunday Morning] and Saturday night did 3 videos on what I see. 1 video, explaining the dangers of buying on this dip, why etc.. 2 video, state of the market, 3 my plans.. We all have different strategies, so it is mainly going to be what you are comfortable with and your time horizon.. if you are a long term trader, this can all be a blimp on the map. I have 1 long term account. I have about 15 positions, most purchased in 2008, which was the next crash after 2000…. That is a large Etrade account. I have stuff like these 5, JPM, GS, BAC, C and unfortunately GE which was a power house back then. That is also my custodial account. I opened a JB Oxford account at 14. [Eventually bought out by Ameritrade], but when Etrade did online trading and for 29.95 in 1997 I opened an Etrade. I do not trade on that account it is long term trades. It is ok to have different accounts for different purposes. I have Ameritrade for my main trading and Fidelity as a backup. I have been doing a lot of options with Interactive brokers…. So it depends on your target..
Short term we are going to see pain. We may not be out of this until 1st or 2nd quarter of 2023 and that depends on earnings! We already know rates will rise that’s for sure… We already know near term that earnings will come down, at least I know… So the time for us to come out will depend on earnings.
As it stands I see the safe trading range on Nasdaq 9,500-10,500. SP500 3,300-3,600.
Earnings comes in 3 weeks. If the first week of earnings comes in bad I will adjust these fair trading ranges depending how bad earnings are… yes, I wrote how bad.. because there is no chance we have good earnings! NONE, 0! It is a question of how bad…
Which is why we should have never rallied Mid June.
BAD NEWS IS ALWAYS BAD NEWS!! Now, 1 year, 3 year, 5 year, 100 years
I laugh when people try and spin it…. Try and say.
The bad news is priced in, the market expected this… So dumb
We expected worse so this is actually good news…almost as dumb
This is the worst of it, they threw everything in, and the kitchen sink, it is up from here… LOL!!!
I laugh hysterically when I read these 3 main themes when bad news comes. Bad news is always bad news.. I am not some dumb post pandemic Rookie, you are not tricking me, hell no! Go fool someone else.
That said, I do not recommend shares of anything. Maybe calls on stocks that make cash. They have the ability to buy back shares, pay dividend, pay off debt, buyout companies going out of business on the cheap…. YES, as I wrote many months ago, we are going to see an avalanche of bankruptcies as interest flies from .125 to 4.4% in 1 year from the Fed. There are still plenty of opportunities to short/buy puts on insanely over inflated companies that have no way to make money and must raise cash by selling stock….. now that rates are headed higher if they take out a loan, they will lose even more money! CVNA had bonds at 6% and now are near 11%
5% monthly payment on 1 billion.
It is 273 million!
273 million divided by 12 months is 23 million!
This 23 million is not the loan amounts!!! This is the new increased cost per month for the same loan that you had last year!!! So if you had to pay 273 million more for the same amount of money, how profitable are you??
Imagine you had a mortgage that was 3,000 a month which was already tough, but because your credit was shot, you could not get a fixed rate mortgage. You were only approved for an ARM, this ARM [Adjustable Rate] can adjust every 6 months to a year… Now instead of 3,000 your new mortgage is 5,500.. How did I come up with 5,500?
Before your mortgage was 6% that was last year.. this year because of rates its 11% [HELLO CVNA EXAMPLE IN REAL LIFE!!!]
What are the chances your house forecloses and when???
CVNA on MEME Friday when August 5th was near 50! BYND 40, AMC 27, GME 50
Yup, the CEOs, CFOs fell asleep at the wheel!! So dumb, they should all be fired, immediately
Well maybe not AMC because they were out of shares to sell and they just announced APE!
When you know you are in trouble and you are able to sell shares. ATM [At the market]
And you do not take advantage of massive volume and an insane gap up… You should be fired!
Imagine this. Your mortgage is 500K, your job you have no way to pay this back… You had friends that wanted to give you money for “Rocks” [Stocks of worthless companies in a credit crunch] but the friends only had the money available on a certain day… You had friends that just came into money burning a hole in their pocket… If they didn’t buy on Friday, you lost your chance… Now these companies already have authorization to sell shares and at the market, maybe not BYND, but CVNA did! So you must sit and wait for opportunities like this where the Apes put so much volume and rocket your stock.. then HIT SELL SELL SELL SELL!
This is what being a public stock is for.. and why I should be paid to consult companies, handle raising cash, etc… It is that simple…..
Outside of insane days like MEME Friday after bad AMC earnings.. When is there stock going up 50% on bad news? That was a black swan event and they should fire themselves.
Retail deserves it for rallying horrible companies…
Think about it in the case of you having a mortgage for 500K…. Your friends are willing to pay 500K for rocks.. They entice you… You did not trick them…
What is even dumber they told their friends who also got lotto money that on Friday to come too.
[8/5 was meme Friday]… Everyone was at your house banging on the door loaded with cash to buy your rocks……You were so happy Thursday night you had a sick hang over and fell asleep…..
The importance of all this?
There are at least 1,000 companies that have rocks for sale [Worthless stock!] Do not feel you have missed out on puts, shorts… In a liquidity crisis it is very dangerous to own stocks of a company with bad financials… It sux anyway even when rate was .125! But it wasn’t detrimental, because money was flying everywhere and if you didn’t want to get a loan don’t worry, your rocks were selling for a zillion! [CVNA was near 400! Not FUD!]
Why the dummies didn’t raise cash by dumping? UM THEY SHOULD BE FIRED!
They may never get that opportunity again… However, the insiders all dumped so they are rich!!
This is why the #1 goal of any company is to raise share price so insiders can dump, angel investors can dump…. Later on down the road they can worry about keeping the company in business. You think the PTON founders really care? They made like 500 million each! They worried about themselves first before the company……
We must realize that, see that when we make trades.. So we know what people are really after.
The #1 goal of a CEO is to raise share price so that insiders can dump.. They don’t care about you! If they are rich, all friends rich, early investors rich.. at the end of the day they did their job!
Selling retail and analysts pipe dreams….
For now, pipe dreams like AFRM SNOW IRTC GTLB GME AMC Etc.. 1,000 more!
Remember this is because of our environment… I like BILL growth near 100%, SNOW 70%
But we are in a bear market recession! They wont be profitable for years.. When they need cash either they have to sell shares or borrow money…
Sell Shares = The supply of shares in the market increases, direct effect on stock price
Borrow Money = These higher rates are going to crush earnings, which will bring down valuation.
See… this is a lose lose situation..And as I said last week maybe 200 out of the 8,400 companies on the Nasdaq and NYSE can pay off all debt and rates wont effect them……
Hence, we are likely headed lower. The market is on probability….
What I am surprised about is OIL going down so much, I understand a recession means less production less OIL used but when China comes back online.. They have real estate problems… Also, surprised GOLD which is an inflation hedge is coming down… It must be because the US dollar is getting strong because all the hikes. Remember, when rates rise, the value of your currency rises, because it costs money to get more… 2 year T bills are going for over 4% so people are likely parking their money in bonds than gold….
5 Trade ideas: I have 12 puts I may be trading in and out of 2-4 today. Careful out there
AFRM/SNAP/NTNX/SAVA – These puts are very close or already in the money let us see
GWRE – I tried Friday to get puts, it was up on a 400 million buyback… Their financials aren’t good, they shouldn’t be trying to boost share price, they will need that money soon!
SNOW – It is hard to find something more expensive than SNOW. This is not the market for growth
CALM – This egg company does make money but 25x PE in this market? It was near 62 and I wanted puts last week, let me see
CRWD/CYBPANW – All good companies but high fliers with ridiculous valuations, let us see
The contents of this post are for information and entertainment purposes only and does not constitute financial, accounting, or legal advice. ... By choosing to make a trade you are responsible for your own actions. Please do some due diligence. These are trades I am making and you can follow along. If you make a winning trade, I do not even expect a bravo or thanks but that’s fine, if you lose on a trade the same difference.. I do not even expect an upvote or reward… The Elite team is aware of the risks and volatility in the market.
Good luck everyone let’s make money. Share trades, ideas here during trading hours. Our main goal here is to make money so I hope we can help eachother. I will be in and out of here as well.
submitted by UltimateTraders to UltimateTraders [link] [comments]
Short term we are going to see pain. We may not be out of this until 1st or 2nd quarter of 2023 and that depends on earnings! We already know rates will rise that’s for sure… We already know near term that earnings will come down, at least I know… So the time for us to come out will depend on earnings.
As it stands I see the safe trading range on Nasdaq 9,500-10,500. SP500 3,300-3,600.
Earnings comes in 3 weeks. If the first week of earnings comes in bad I will adjust these fair trading ranges depending how bad earnings are… yes, I wrote how bad.. because there is no chance we have good earnings! NONE, 0! It is a question of how bad…
Which is why we should have never rallied Mid June.
BAD NEWS IS ALWAYS BAD NEWS!! Now, 1 year, 3 year, 5 year, 100 years
I laugh when people try and spin it…. Try and say.
The bad news is priced in, the market expected this… So dumb
We expected worse so this is actually good news…almost as dumb
This is the worst of it, they threw everything in, and the kitchen sink, it is up from here… LOL!!!
I laugh hysterically when I read these 3 main themes when bad news comes. Bad news is always bad news.. I am not some dumb post pandemic Rookie, you are not tricking me, hell no! Go fool someone else.
That said, I do not recommend shares of anything. Maybe calls on stocks that make cash. They have the ability to buy back shares, pay dividend, pay off debt, buyout companies going out of business on the cheap…. YES, as I wrote many months ago, we are going to see an avalanche of bankruptcies as interest flies from .125 to 4.4% in 1 year from the Fed. There are still plenty of opportunities to short/buy puts on insanely over inflated companies that have no way to make money and must raise cash by selling stock….. now that rates are headed higher if they take out a loan, they will lose even more money! CVNA had bonds at 6% and now are near 11%
5% monthly payment on 1 billion.
It is 273 million!
273 million divided by 12 months is 23 million!
This 23 million is not the loan amounts!!! This is the new increased cost per month for the same loan that you had last year!!! So if you had to pay 273 million more for the same amount of money, how profitable are you??
Imagine you had a mortgage that was 3,000 a month which was already tough, but because your credit was shot, you could not get a fixed rate mortgage. You were only approved for an ARM, this ARM [Adjustable Rate] can adjust every 6 months to a year… Now instead of 3,000 your new mortgage is 5,500.. How did I come up with 5,500?
Before your mortgage was 6% that was last year.. this year because of rates its 11% [HELLO CVNA EXAMPLE IN REAL LIFE!!!]
What are the chances your house forecloses and when???
CVNA on MEME Friday when August 5th was near 50! BYND 40, AMC 27, GME 50
Yup, the CEOs, CFOs fell asleep at the wheel!! So dumb, they should all be fired, immediately
Well maybe not AMC because they were out of shares to sell and they just announced APE!
When you know you are in trouble and you are able to sell shares. ATM [At the market]
And you do not take advantage of massive volume and an insane gap up… You should be fired!
Imagine this. Your mortgage is 500K, your job you have no way to pay this back… You had friends that wanted to give you money for “Rocks” [Stocks of worthless companies in a credit crunch] but the friends only had the money available on a certain day… You had friends that just came into money burning a hole in their pocket… If they didn’t buy on Friday, you lost your chance… Now these companies already have authorization to sell shares and at the market, maybe not BYND, but CVNA did! So you must sit and wait for opportunities like this where the Apes put so much volume and rocket your stock.. then HIT SELL SELL SELL SELL!
This is what being a public stock is for.. and why I should be paid to consult companies, handle raising cash, etc… It is that simple…..
Outside of insane days like MEME Friday after bad AMC earnings.. When is there stock going up 50% on bad news? That was a black swan event and they should fire themselves.
Retail deserves it for rallying horrible companies…
Think about it in the case of you having a mortgage for 500K…. Your friends are willing to pay 500K for rocks.. They entice you… You did not trick them…
What is even dumber they told their friends who also got lotto money that on Friday to come too.
[8/5 was meme Friday]… Everyone was at your house banging on the door loaded with cash to buy your rocks……You were so happy Thursday night you had a sick hang over and fell asleep…..
The importance of all this?
There are at least 1,000 companies that have rocks for sale [Worthless stock!] Do not feel you have missed out on puts, shorts… In a liquidity crisis it is very dangerous to own stocks of a company with bad financials… It sux anyway even when rate was .125! But it wasn’t detrimental, because money was flying everywhere and if you didn’t want to get a loan don’t worry, your rocks were selling for a zillion! [CVNA was near 400! Not FUD!]
Why the dummies didn’t raise cash by dumping? UM THEY SHOULD BE FIRED!
They may never get that opportunity again… However, the insiders all dumped so they are rich!!
This is why the #1 goal of any company is to raise share price so insiders can dump, angel investors can dump…. Later on down the road they can worry about keeping the company in business. You think the PTON founders really care? They made like 500 million each! They worried about themselves first before the company……
We must realize that, see that when we make trades.. So we know what people are really after.
The #1 goal of a CEO is to raise share price so that insiders can dump.. They don’t care about you! If they are rich, all friends rich, early investors rich.. at the end of the day they did their job!
Selling retail and analysts pipe dreams….
For now, pipe dreams like AFRM SNOW IRTC GTLB GME AMC Etc.. 1,000 more!
Remember this is because of our environment… I like BILL growth near 100%, SNOW 70%
But we are in a bear market recession! They wont be profitable for years.. When they need cash either they have to sell shares or borrow money…
Sell Shares = The supply of shares in the market increases, direct effect on stock price
Borrow Money = These higher rates are going to crush earnings, which will bring down valuation.
See… this is a lose lose situation..And as I said last week maybe 200 out of the 8,400 companies on the Nasdaq and NYSE can pay off all debt and rates wont effect them……
Hence, we are likely headed lower. The market is on probability….
What I am surprised about is OIL going down so much, I understand a recession means less production less OIL used but when China comes back online.. They have real estate problems… Also, surprised GOLD which is an inflation hedge is coming down… It must be because the US dollar is getting strong because all the hikes. Remember, when rates rise, the value of your currency rises, because it costs money to get more… 2 year T bills are going for over 4% so people are likely parking their money in bonds than gold….
5 Trade ideas: I have 12 puts I may be trading in and out of 2-4 today. Careful out there
AFRM/SNAP/NTNX/SAVA – These puts are very close or already in the money let us see
GWRE – I tried Friday to get puts, it was up on a 400 million buyback… Their financials aren’t good, they shouldn’t be trying to boost share price, they will need that money soon!
SNOW – It is hard to find something more expensive than SNOW. This is not the market for growth
CALM – This egg company does make money but 25x PE in this market? It was near 62 and I wanted puts last week, let me see
CRWD/CYBPANW – All good companies but high fliers with ridiculous valuations, let us see
The contents of this post are for information and entertainment purposes only and does not constitute financial, accounting, or legal advice. ... By choosing to make a trade you are responsible for your own actions. Please do some due diligence. These are trades I am making and you can follow along. If you make a winning trade, I do not even expect a bravo or thanks but that’s fine, if you lose on a trade the same difference.. I do not even expect an upvote or reward… The Elite team is aware of the risks and volatility in the market.
Good luck everyone let’s make money. Share trades, ideas here during trading hours. Our main goal here is to make money so I hope we can help eachother. I will be in and out of here as well.