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Yep, I have all my accounts setup with beneficiaries, if not co-owned with the wife. The profitable ones will have their basis reset, so should be a boon for those who inherit.
Just tell them to put everything in the S&P500 and QQQ and they will be just fine and beat 90% of the big boys.Sorry to interject here, but is there any good resources I could send to my early 20’s kids to help them learn this stuff? I’ve been content in my career to just let Schwab handle my stuff (aggressive in my youth, less so in my 50’s) and I’ve done…OK. My kids aren’t in careers with huge earning potentials and I’d like them to be able to make the little nest egg they do have to work for them as much as possible.
There is a reason I was an engineer and not a business guy.
Do everything possible to max Roth IRA and Roth 401k if available. And put it all in an index fund (S&P or total stock market). That's it. Honestly.Sorry to interject here, but is there any good resources I could send to my early 20’s kids to help them learn this stuff? I’ve been content in my career to just let Schwab handle my stuff (aggressive in my youth, less so in my 50’s) and I’ve done…OK. My kids aren’t in careers with huge earning potentials and I’d like them to be able to make the little nest egg they do have to work for them as much as possible.
There is a reason I was an engineer and not a business guy.
My wife and I set up a trust that all of our assets will go to when we die and named our kids as the beneficiaries of that trust. According to our lawyers, that will reduce the amount of paperwork associated with transferring everything substantially.
As other said, invest ASAP in index funds.Sorry to interject here, but is there any good resources I could send to my early 20’s kids to help them learn this stuff? I’ve been content in my career to just let Schwab handle my stuff (aggressive in my youth, less so in my 50’s) and I’ve done…OK. My kids aren’t in careers with huge earning potentials and I’d like them to be able to make the little nest egg they do have to work for them as much as possible.
There is a reason I was an engineer and not a business guy.
If you (they) want to dig a little deeper than an S&P index fund have them read All About Asset Allocation by Richard Ferri. And then know his suggested percentages are very conservative, imo.Just tell them to put everything in the S&P500 and QQQ and they will be just fine and beat 90% of the big boys.Sorry to interject here, but is there any good resources I could send to my early 20’s kids to help them learn this stuff? I’ve been content in my career to just let Schwab handle my stuff (aggressive in my youth, less so in my 50’s) and I’ve done…OK. My kids aren’t in careers with huge earning potentials and I’d like them to be able to make the little nest egg they do have to work for them as much as possible.
There is a reason I was an engineer and not a business guy.
The most important thing is to start early. https://www.investopedia.com/articles/personal-finance/040315/why-save-retirement-your-20s.asp
I have the book the simple path to wealth by j. L. Collins I keep at work and pass out to the young people.Sorry to interject here, but is there any good resources I could send to my early 20’s kids to help them learn this stuff? I’ve been content in my career to just let Schwab handle my stuff (aggressive in my youth, less so in my 50’s) and I’ve done…OK. My kids aren’t in careers with huge earning potentials and I’d like them to be able to make the little nest egg they do have to work for them as much as possible.
There is a reason I was an engineer and not a business guy.
My parents bought that for me for my 16th birthday.
Meanwhile Carvana out here doing crypto ****coin style multiples. Almost a 100x from the inflation bottom
39% here this year, 75% YTD. Sitting at 12.5% cash at the moment. I really need to spend some time get some stops in place on my technical holdings.
Damn, that's a pretty big move.
TSLA has the ability to stay irrational longer than you can say solvent (assuming you short it).
Its entire existence to this point.
At the same time it supercharges exports and nations generally want a weak currency because of that. Conventional wisdom is that this increases GDP overall.
If there was a poster child for irrational TSLA is it. Both on the upside and the downside.
There is no question large companies like that weakening dollar. I hesitantly agree that "conventionally" GDP would go up. Problem is, we aren't in conventional times. There's going to be a big question on GDP impact around small/medium sized companies vs the big companies. If the negatives on those small/medium companies are greater than the benefits to large companies, GDP isn't likely to move all that much. This tariff business continues to weigh on markets in the form of uncertainty.
I'm holding mine through the CEO change in August. I think Cornell has been a disaster, but rumor is the next CEO will be boring Internal milquetoast, so not a lot to be excited about...
Care to tell us why? It at least helps a little to see reasoning here beyond just buying or selling something. Thanks.
Absolutely. Part of it is catch-up; Alphabet has underperformed most of the Mag 7.
Well, I did not execute my plan to get back into the market during the Tariff Tantrum. Went 100% cash back in Feb before the drop (6066 S&P), and today held my nose & went back 100% into S&P index. So, for anyone waiting for "capitulation" from someone who is very bearish on the macro effects of the changes of US policy as a sign, this is it.Thanks for sharing. I hope we do get one more drop so everyone can can back in at the levels they want.I won't know the bottom, and I don't plan on trying to find it - but my plan is to come back in based on valuation of S&P from where I took it out originally (6066). VERY unscientific!How will you know the bottom? Are you looking for some specific trading activity? Some of the bears I've been watching are saying that some of the metrics for a bottom have been checked off while others haven't.Doesn't feel much like swinging for the fences over here, and I appreciate the perspective & the experience that informs that perspective.Pretty ballsy move swinging for the fences like this. The only guys who call the bottom right are the guys who put out a new youtube video every day.I'm taking advantage of the last few green days to pull back the cash I had put back to work in my 401K. So now back to 100% cash from 80%. I'll take the 4% and wait for the effects of the whipsaw changes to show up in the economic data - I think a better entry point is ahead, IMO. Good luck to all.
No plans for a daily youtube as of now - and if I do start one y'all will be the first to know!
The daily youtube wasn't directed at you directly. Been following some folks who generate enough content that they'll be right half the time. They'll be on record about a correct bottom. How do you call a bottom if you only have one shot?
Personally I hedged by setting up a Roth to convert shares if we have a second dip and will have a plan in place to move x amount based on y drop.
First entry point will be 20% back in @ a 15% drop (rather than the 10% drop I had previously planned - which is essentially where we are now). Tentative plan is another 20% back in for each 5% drop from there. If we go down 35% (3945) I would be all back in at that point.
For me, the bottom line is it felt a LOT worse watching my balance go down from that 20% I had put back in than it did missing the opportunity to put more $$ in when it was lower.
So, I actually have only a concept of a plan, and that will evolve I'm sure as we all move through these next months/ years as this plays out.
Definitely open to suggestions, and could end up costing myself here for sure - but I think we're going down before we go up.
Very nice. Personally I'd sell half and free roll. Nothing wrong with small positions. One of the lessons I have learned the hard way is if it's not namerd Amazon, keep the speculative stuff under 3%.
"If it's the next great growth company, a little is all you need. If it's not, a little is all you want"
I got out of DKNG in maybe April. I don't think any of these operators are doing well (agree that FD seems best in breed) and think this 90% cap on losses that slid through could really hurt them.
Thanks for the reply. The last part of your post is priced in these stocks already. So for me, I'm more than fine with that stuff. Good even. Just like the chances of Cali voting it in, they know full well it might be 3 years. DKNG was actually ahead of the game last time around, pulling their marketing efforts early on, once they knew it had no chance of passing.
