Good stock market news for me
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BRAW stocks are the quintessential investment going forward.
BRAW? I'm pretty sure FAANG stocks have outperformed during this thing. I'd have to check though.George / NJ
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Keep in mind....flipping stocks can be a good investment, but the tax liability is much higher I believe if you sell sooner than 1 year. If you hold them 1 year plus 1 day and sell, the tax rate is lower. I discovered this when I almost purchased FedEx but needed the cash to send our oldest off to school. Save up money for the next roller coster ride down and as the late, great Al Czervik said: Buy Buy Buy!
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In 1981, I was working as a young train controller. One of the old guys was retiring. He told me, “Son, every time you get a paycheck you should buy a little gold. That’s what I did. The price of gold will go up and it will go down but over the course of forty years I am now a millionaire.” I knew he was right, but of course I never did it. Gold was somewhere between 300-400 an ounce IIRC for several decades. I could’ve piled up quite a bit by the time gold suddenly jumped to 1200. - quadruple just like that. Now it’s near $2000. I’d be buying you all prime rib if I had only done what that old guy advised me to do in 1981. I’m not complaining because I’ve done alright along the way but I knew all these years that he was right.
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mhardy6647 wrote: »One of our financial advisors likes to say this about gold as an investment (I paraphrase):
In 1890, the price of an ounce of gold... would buy a nice suit.
In 1920, the price of an ounce of gold... would buy a nice suit.
In 1933, the price of an ounce of gold... would buy a nice suit.
In 1955, the price of an ounce of gold... would buy a nice suit.
In 1974, the price of an ounce of gold... would buy a nice suit.
In 2008, the price of an ounce of gold... would buy a nice suit.
you get the idea.
This is true, but in a down market....you ain't buying any suit if you lose all your money. Right ?HT SYSTEM-
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Yeah.
suits.
That'll set one apart from the crowd.
I don't think suits are a good investment in 2020, though. Heck, in this era, I'm not even sure that pants are.
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Keep in mind....flipping stocks can be a good investment, but the tax liability is much higher ...
- Short term investments are taxed as ordinary income, so the rate will depend on your tax bracket. These gains can also push you into a higher marginal tax bracket.
- Long term investments are taxed as capital gains — when you eventually sell them. Until then, they aren't taxed at all, except the dividends (if any are paid).
How much do I owe you for the consultation, and can I deduct it from my 2020 taxes?
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Property tax. Most of that was the residence on the property. The land PT was negligible.Gustard X26 Pro DAC
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There is about a 5% genetic difference between apes and men …but that difference is the difference between throwing your own poo when you are annoyed …and Einstein, Shakespeare and Miss January. by Dr. Sardonicus -
We have a group of smart people on the forum in so many areas. I find myself going here for random questions before even thinking about posting them on social media!Keep in mind....flipping stocks can be a good investment, but the tax liability is much higher ...- Short term investments are taxed as ordinary income, so the rate will depend on your tax bracket. These gains can also push you into a higher marginal tax bracket.
- Long term investments are taxed as capital gains — when you eventually sell them. Until then, they aren't taxed at all, except the dividends (if any are paid).
How much do I owe you for the consultation, and can I deduct it from my 2020 taxes?
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The people that I personally known that have generational wealth are/were vested in real estate.My grandfather always told me "invest in real estate" A fire can burn it but it's still land. I bought 13 acres of bare land 25 years ago for$39,000. Now it's worth $450k-$500. The world can go to hell in a handbasket but I still have a place I can set up sniper positions.
OTOH, my grandparents saved for retirement the old fashion way by working hard and saving cash and silver coins. My grandfather was a tradesman at a steel factory and my grandmother was a part-time cook at a school cafeteria. Through the years they lived a decent life and traveled, owned a camper or trailer and fished around Michigan and Canada. They always took care of their kids and grand kids and were a source of financial help/loans at times.
After retirement they moved to South Carolina and built a home on family owned land....and payed cash to build it! My grandfather was a jack-of-all trades and conceived the design of the house and did some of the finish, plumbing, etc. work to save on labor costs. He even recruited men in the family to help clear trees off the land. I stayed down there one Summer and helped with some of the trim work as well. One time we were doing plumbing under the house via crawl space. A black widow was coming right for us but the old man killed it and just kept working. That was a bit much for a city kid from Detroit... I was uneasy the rest of the hours under the house. Man do I miss them dearly!
Nevertheless, I wish I had the same discipline. When I started out money was always tight and I put too much focus on the wrong things. Then, with the rising cost of living I did not find second and third streams of income that would allow better opportunities to save and invest. Now, its about trying to play the catch up game which is always tough.
This picture says it all. My little '96 BMW 318Ti Sport that I just had to have parked at my grandparents house that they worked their life for and built with cash. Just think, I sold a car ('90 VW Corrado G60, took only a $1000 loss after 3 1/2 years!) not long after paying it off to lease the BMW...then later bought it off lease only to sell it because I was under water. The Mrs. and I ended up sharing a car when we worked opposite shifts after my Son was born. Young and Dumb!
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joecoulson wrote: »Something is going to happen in November that sends it downward.
It's not advisable to allow politics sway your investment decisions, Mr. Coulson!
There are many reasons to expect a bull run in 2021, regardless of what happens in November. Remember that the longest bull run in history started after the Great Recession brought on by the financial crisis. That lasted from 2009 to early 2020, but... nothing is ever guaranteed!
You are of course correct.
