Jump to content

ScottO

Members
  • Content Count

    27
  • Joined

  • Last visited

Community Reputation

0 Neutral

About ScottO

  • Birthday 09/06/1982

Profile Information

  • Gender
    Male
  • Location
    Santa Clara, CA

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Hey Dan, thanks to both you and Scott for the discussion+information at 7am. Part of the best day since 1933: https://www.msn.com/en-us/money/markets/dow-soars-11percent-in-best-day-since-1933-as-stimulus-deal-nears/ar-BB11DCB1 Take Care!
  2. Teach and Retire Rich Ep. #104 is up: http://teachandretirerich.libsyn.com/market-volatility-questions-104 Good to hear the discussion.
  3. Yay, a taxable account buoy. If anyone wants to meet via Zoom during the day, let me know. I'm working from home/sheltering in place for the next few weeks.
  4. I've seen a few articles recommending splitting up investments during volatile times, but I doubt any of us really have a significant sum where it matters. It's largely a short term mental exercise to avoid feeling like you bought in on the wrong day. Even using something like the $6k max contribution won't really matter how/when you put it in the market, all that matters is it being there... keep putting your drops in the bucket. I just read up on that. Investopedia has some guidance, but I appreciate your input. Seems like it's just IRAs are taxable accounts that fall under the IRS wash sale magnifying glass.
  5. I found this guide years ago: https://www.physicianonfire.com/tax-loss-harvesting-vanguard/ It's pretty neat because it has step-by-step screenss. Our taxable account went from 50k down to 35k, but I need a refresher on the information regarding wash sales. I forget if you can't buy anything similar in all your accounts(taxable, Roth, 403b, 457). That would be a headache since I have regular monthly automatic contributions to a few of those. Another recent forum discussion on TLH: https://forum.mrmoneymustache.com/investor-alley/tax-loss-harvesting-rule-of-thumb/ (the internet is full of a bunch of right and wrong answers) If you have the spare cash to stash away, always be buying. Stick to your plan, DCA and you'll be ok.
  6. Motley Fool had a surprisingly good YouTube video on investing during a bear market: https://www.youtube.com/watch?v=ex8WR_1zLxE They really emphasized sticking with your original plan and focusing long term. Timing the market and seeking short term gains was really discouraged. Normally I don't tune into their stuff, because it feels like they are trying to sell advice. Dollar cost averaging and maintaining your asset allocation are good tips from that mymoneywizard article. Maybe I'll look at re-balancing after today.
  7. https://money.cnn.com/data/fear-and-greed/ https://money.cnn.com/data/afterhours/ https://finance.yahoo.com/ ^ for whatever reason I've been tuning into those sites to track the market and then I use Mint to track account balances. Even with a 90/10 portfolio and today's loses, my net worth is just back to what it was in Oct/Nov 2019. I felt fine then, feelin' pretty fine now. Major contributions haven't changed, but I am splitting up my Roth IRA contributions into four chunks(two already done). As much as I think I can identify a market bottom, I figured I would play it safe an invest the amount of money over a 3-4 month period. I haven't purchased individual stocks before, but I'm really thinking about a few companies. Everything I've invested so far is in index funds, so I already own those individual companies, but it would be neat to get a share of Berkshire stock for a Geico Insurance and See's Candy discounts 😛 Thanks for the previous posts about what you are saying to others. I need to listen to the recent podcasts - one of them seemed like it was in response to recent volatility. Focusing on the market and retirement accounts won't do anything besides generate anxiety. I try to remind myself that real world activities are the best use of my time and this other junk will sort itself out. Stay Healthy!
  8. What are the best ways you've found to keep others calm about their investments and explain why doing nothing is recommended? I've been an outspoken advocate for index investing for a few years, so a lot of coworkers and family are asking me what they should do right now. I could use some of your good one or two liners.
  9. That is a great video. "Reasons you should look for a financial pro" would be an interesting addition to this thread. There's a lot I feel confident doing on my own(choosing asset allocation, choosing investments, updating contribution amounts) during the accumulation phase, so paying an adviser for that doesn't make much sense. I'm sure later in life I'll have more complicated questions or pitfalls someone could help me avoid. Planning a retirement date by balancing pension, social sec and investment withdrawal income is fun right now(with years to go), but it'll become a more serious decision once I get old enough to do it. "What a financial pro can and can't do" would make a good side-by-side table. "Beat the market over long periods of time (can't)"
  10. Reddit could be another good space to create a 403bwise community.
  11. Alcohol content is probably too low.
  12. I will admit that it is still tough to watch account gains go from a high to a low so quickly. There are articles out there about this being the fastest correction ever, which is pretty unnerving, so I can understand why some people would want to get off the volatility roller coaster for a while. "Stay the course" is the best advice I have to cope. "Buy the dip" is the second best advice, but there's no guarantee the market won't dip even further. Maybe another good piece of advice would be to never look at and make decisions about your portfolio when gains are at a high or a low. I've been investing small amounts since I started working full time in 2001, but never kept to close of an eye on the accounts. I think I've lost more due to bad financial advisers than market activity. Opportunity cost loses are probably huge. We started contributing to retirement accounts aggressively in 2015, so we've had that easy ride up. Market looks like it'll close up ~4% today...
  13. We're contributing the same amount at the same allocation. I've read too many John Bogle books to do otherwise.
  14. It's more fun when you can play with the numbers in the cells and see values change - trying Google Docs: https://drive.google.com/file/d/1KnMX-B4heFDJKhWd1EvtOXVVmKKI3-0b/view?usp=sharing Spreadsheets help me understand numbers. The table of percentages is interesting, but I want to know how they relate to each other and affect an ending balance outcome. I don't use it to predict the future, it's more for determining how hard to kick my present self for not contributing more in the past 😋 ^ that calculator is pretty cool.
×
×
  • Create New...