ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
29 February 2020, 12:58 AM | #61 | |
"TRF" Member
Join Date: Dec 2010
Real Name: AP
Location: Cleveland, OH
Watch: SubC LN
Posts: 428
|
Quote:
|
|
29 February 2020, 01:01 AM | #62 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
If you are starting an IRA for the very first time then yes a Roth is the best option.
https://www.schwab.com/ira/roth-ira/what-is-a-roth-ira
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 01:12 AM | #63 |
"TRF" Member
Join Date: Dec 2011
Location: Marietta, GA
Posts: 3,249
|
Well, it was a hypothetical question... I'm not starting fresh, though I do have a small amount in a Roth, but I have been making SEP contributions for the past several years, so that's where I am at. I'm just curious about the ROTH thing. Wondering if I should start maxing out a ROTH and then contribute the remaining in my SEP. But it probably makes sense to continue with the SEP for the income deduction. I don't know...
|
29 February 2020, 01:23 AM | #64 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Lots of smashed technicals today, could be the start of a wash out however the ARMS is not quite low enough as of 10:24
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 01:30 AM | #65 | |
"TRF" Member
Join Date: Feb 2014
Real Name: Scott
Location: New York
Posts: 121
|
Quote:
That's assuming you have good low cost investment options in your SEP. If not, at least contribute to the match, and then max the Roth. Ideally, max them both. Keep in mind you cannot directly contribute to a Roth over certain income levels, and in that case you must contribute to a traditional IRA and backdoor to a Roth. |
|
29 February 2020, 01:38 AM | #66 | |
"TRF" Member
Join Date: Feb 2014
Real Name: Scott
Location: New York
Posts: 121
|
Quote:
If you expect to be in a lower tax bracket when you retire than you are now - use a Traditional 401k. For many people who are good earners and savers this means the best course of action is to max a 401k, max a Roth IRA, and contribute anything additional to a taxable account. |
|
29 February 2020, 01:43 AM | #67 | |
"TRF" Member
Join Date: Dec 2011
Location: Marietta, GA
Posts: 3,249
|
Quote:
But can you in theory max out a SEP and a ROTH? I am confused about that, maybe I need to read up... |
|
29 February 2020, 01:45 AM | #68 | |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Quote:
Check this out before you over fund, the penalties for that are severe.
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
|
29 February 2020, 02:51 AM | #69 | |
"TRF" Member
Join Date: Jan 2013
Real Name: SMD
Location: LGA/EWR/ORD
Watch: AP/PP
Posts: 3,664
|
Quote:
"A SEP-IRA is a traditional IRA that holds contributions made by an employer under a SEP plan. You can both receive employer contributions to a SEP-IRA and make regular, annual contributions to a traditional or Roth IRA. Employer contributions made under a SEP plan do not affect the amount you can contribute to an IRA on your own behalf." From IRS.gov. |
|
29 February 2020, 02:51 AM | #70 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
First bounce attempt of the day VIX was over 49, RSI at 20 selling pressure exhausting itself just like this time yesterday.
Will be interesting to see what the 2 pm margin calls are like and what the news is going into the close if anyone wants to hold or sell before the weekend. And in 10 minutes massive sell programs hit, back down again
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 04:03 AM | #71 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Another bounce try, some tech names catching a bid
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 04:06 AM | #72 |
"TRF" Member
Join Date: Jun 2017
Location: Odorious Onion
Watch: yes, it's hipster
Posts: 1,568
|
Yep. OXLC is my benefactor.
__________________
Here come dat boi Jerry |
29 February 2020, 04:13 AM | #73 |
"TRF" Member
Join Date: Apr 2016
Real Name: Tom
Location: New York
Posts: 190
|
I just want to say I'm loving this thread, and I appreciate the updates from beshannon - thanks!
|
29 February 2020, 04:14 AM | #74 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Thanks, I try to add something
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 04:41 AM | #75 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Failed second bounce, heading for 2pm, Will be interesting to see the market on close order imbalance today.
VIX heading back up, I expect a ugly close
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 04:44 AM | #76 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,897
|
I fully expect a slaughter at close. I’ll hazard we outdo yesterday’s numbers. Am I putting my money where my mouth is? No.
__________________
|
29 February 2020, 04:48 AM | #77 |
"TRF" Member
Join Date: Apr 2016
Real Name: Tom
Location: New York
Posts: 190
|
why has it been holding OK throughout the day and then sinking at the end of the day?
|
29 February 2020, 04:49 AM | #78 |
2024 Pledge Member
Join Date: Feb 2013
Real Name: Ryan
Location: DMV
Watch: LVc
Posts: 2,052
|
I am expecting weakness into the close, looking to start adding on Monday. I don’t think many are going to want to hold over the weekend.
Sent from my iPhone using Tapatalk |
29 February 2020, 04:50 AM | #79 | |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Quote:
Sporadic buying in oversold names, lack of significant news, margin calls not yet priced in . . . Short term traders have had two great bounces yesterday and today to trade but no one will want to hold long over the weekend. Need to hold 2850 on the S&P Fed Chair Powell's statement put a floor under the market, will see where the close is as the market is very orderly
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
|
29 February 2020, 06:12 AM | #80 |
"TRF" Member
Join Date: Jun 2018
Location: East Coast
Watch: 16610
Posts: 4,933
|
It’s a very difficult situation. These kinds of pandemics even historically loose steam and we are getting close to spring which will pose a headwind to the spread of the illness to some degree. However, the bigger question is the damage to the market in general. I think the recent market buildup has been masking cracks for a while now, slowing in Asia and Europe, increasing personal and national debt, etc. the holding of interest rates have been fueling a bonanza in the market for how many years. But 70% of the market is driven by consumer spending and consumers are spending on borrowed dollars as real income has been flat for decades. Low interest rates tend to drive goods higher And pinching the consumer. Now, the Fed has very little left to intervene.
So the long game looks good as it always does, but the short to medium term does not. However from the behavioral economics side, is primarily fear driving the sell off rather than the virus causing a massive halt to things. With news everywhere now, this panic feeds on itself. Remember, we really did not have smart phones back in 2007-2008, so News travels faster now. |
29 February 2020, 06:26 AM | #81 |
"TRF" Member
Join Date: Jul 2013
Location: us
Posts: 3,281
|
|
29 February 2020, 07:24 AM | #82 |
"TRF" Member
Join Date: Apr 2016
Real Name: Tom
Location: New York
Posts: 190
|
Well that run up at the last minute was unexpected!
|
29 February 2020, 07:35 AM | #83 |
"TRF" Member
Join Date: Nov 2009
Real Name: Andreas
Location: Margaritaville
Watch: Smurf
Posts: 19,879
|
Saved the weekend! Let's Party!
__________________
Yeah, well, you know, that's just, like, your opinion, man. |
29 February 2020, 07:38 AM | #84 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Algos buying up the oversold condition, I just saw that there was a massive flow out of bonds into equities at the close, likely institutional
The weekend news will determine the futures, I would rather see a sell open on Monday and would have rather seen more down at the close today. I do not believe this is washed out yet.
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
29 February 2020, 07:43 AM | #85 |
"TRF" Member
Join Date: Sep 2012
Location: Canada
Watch: Rolex/AP
Posts: 341
|
Been short all week - mostly TSLA.
Something about making $$ while the market tanks is extra satisfying. |
29 February 2020, 07:46 AM | #86 |
"TRF" Member
Join Date: Nov 2009
Real Name: Andreas
Location: Margaritaville
Watch: Smurf
Posts: 19,879
|
Well Karma is a Bi**h.
__________________
Yeah, well, you know, that's just, like, your opinion, man. |
29 February 2020, 08:07 AM | #87 |
"TRF" Member
Join Date: Sep 2009
Location: Canada
Posts: 3,999
|
Talk about juicing the run into the close on US markets. Trading into the close like they did today is what they do with penny stocks, shameful manipulation only breeds contempt. Plunge protectors are afraid based on that close.
|
1 March 2020, 08:23 AM | #88 |
"TRF" Member
Join Date: Aug 2019
Location: U.S.A
Posts: 193
|
looking forward to see next beshannon next post. solid info for beginners like me.
|
1 March 2020, 08:45 AM | #89 |
"TRF" Member
Join Date: Dec 2019
Location: Boston
Posts: 1,233
|
With Roth IRAs it is critical to know that there is an income limitation. If you make more than that, you cannot benefit, AT ALL.
SEP IRAs are great vehicles that let you defer more income. As someone said, everyone has a different situation and if you expect to make more money later in life past the post retirement age, you may wish to re-evaluate the deferral strategy combined with your plans to provide for your children (or even grandchildren) if any. If your post retirement income is dividends and capital gains, they are presently tax advantaged. That may not last depending on how the politics unfolds over the next few decades (I personally expect that the flagrant government spending deficits will change this advantage by a matter of necessity to raise revenue by any means possible). Then, there is the estate tax to consider... |
1 March 2020, 11:53 PM | #90 | |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
Quote:
Just to be clear: All my posts are my own opinions, I try to post sources when possible. Everyone should do their own due diligence and check their information before making decisions.
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.