The Investment Thread (stocks, bonds, real estate, retirement, just not gold)

wagrxm2000

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Did you end up buying it? It's crazy how spec stocks behave. They seem to thrive even more with bad news
Yeah but only a small amount, $10k. I plan on holding until $40 and reassessing with a stop at $32.50. I'll move the stop up slowly if it gets to $40.
 
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wagrxm2000

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So you believe in NKLA? I thought they were a fraud company.
They might be and it's looking like I'll be out already tomorrow with the SEC looking into them.

However one would think GM looked into the company before their deal plus Milton bought the dip which is a good sign.
 
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WVUPharm2007

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Quick question, why does the title of the thread say "just not gold"

what's wrong with investing in gold?
When this thread started we were in the middle of the gold bubble and there was one poster in particular that went on and on about it. So we banned gold discussion from this thread.
 
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wagrxm2000

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Quick question, why does the title of the thread say "just not gold"

what's wrong with investing in gold?

This is why

That guy seemed very annoying.

What's funny is that was the top for gold over the next 7 years.

Also @Momus was a gold bug
 
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wagrxm2000

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Added to QQQ yesterday, probably won't add anything else outside another dip.
 

Sabril

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This is why you have to buy on dips if you truly believe in a stock.
I just got some Abbvie shares today due to a limit order that I placed before. I can't even call that a dip. In fact I think they are in for a tough ride over the humira ordeal. However, I think their fundamentals are pretty solid so I'll just sock it away and not worry about it at least for the next 5 years.
 

OIN23

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They might be and it's looking like I'll be out already tomorrow with the SEC looking into them.

However one would think GM looked into the company before their deal plus Milton bought the dip which is a good sign.
Did you get out? It was only last year when NKLA was $10/share. What technology did they discover since then to justify $30?
 
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Momus

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This is why

That guy seemed very annoying.

What's funny is that was the top for gold over the next 7 years.

Also @Momus was a gold bug
Nah, I held gold mining stocks literally for 6 months for my entire investing career. Hard to say I was a gold bug.
 

Momus

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We probably gonna power to S&P 3800-4000 once vaccines are distributed. 160 vaccines in development and 30 in clinical trials with Moderna, Pfizer, Janssen in phase 3. Covid play is dead soon. Get in before the beaten down stocks come back up.
 
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Chrish

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did 2.75% for 30 years with $800 as a point fee. Pretty similar
Speaking of which, I am in a situation where I need to make a choice: either invest money into taxable account or pay off mortgage at 2.75% for approximately $400k.

Conventional wisdom states invest and pay minimum mortgage each month since return of investment is higher. However, I by nature am extremely debt-averse. I am just thinking about paying this off aggressively in 4-5 years and then be done with it.
 

owlegrad

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mentos

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Speaking of which, I am in a situation where I need to make a choice: either invest money into taxable account or pay off mortgage at 2.75% for approximately $400k.

Conventional wisdom states invest and pay minimum mortgage each month since return of investment is higher. However, I by nature am extremely debt-averse. I am just thinking about paying this off aggressively in 4-5 years and then be done with it.
I've been doing half and half, though I'm considering just paying the minimum each month. Jobs aren't secure these days.
 

OIN23

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Speaking of which, I am in a situation where I need to make a choice: either invest money into taxable account or pay off mortgage at 2.75% for approximately $400k.

Conventional wisdom states invest and pay minimum mortgage each month since return of investment is higher. However, I by nature am extremely debt-averse. I am just thinking about paying this off aggressively in 4-5 years and then be done with it.
Depends on your age and when you are planning to retire. Assuming you can write off 30% of the mortgage interest rate, you are paying < 2% which is the same as inflation....pretty much free money. A peace of mind is also important. It goes back to age and your long term goal. If you can escape the rat race then go ahead, pay it off.
 

mentos

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Depends on your age and when you are planning to retire. Assuming you can write off 30% of the mortgage interest rate, you are paying < 2% which is the same as inflation....pretty much free money. A peace of mind is also important. It goes back to age and your long term goal. If you can escape the rat race then go ahead, pay it off.
How do you write off mortgage interest rate?
 

OIN23

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How do you write off mortgage interest rate?
You have to itemize but the standard deduction for couples is $24,800. So your itemized total must exceed $24,800 for you to benefit from mortgage interest rate tax deduction.
 

OIN23

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Ah my mortgage interest isn't close to the standard deduction.
You can write up to $10 k in state and property tax for couples and singles. Charitable contributions also count. Tax wise..it is not really beneficial for two working professionals.
 
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owlegrad

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Ah my mortgage interest isn't close to the standard deduction.
You might be surprised how many things you can deduct. A tax professional can also review your last few filing and see if you could have gotten more and amend your tax returns if so. If you’re interested send me a PM and I can give you the contact info of a guy who specializes in that. I was shocked how much money I was leaving on the table.
 

Momus

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You might be surprised how many things you can deduct. A tax professional can also review your last few filing and see if you could have gotten more and amend your tax returns if so. If you’re interested send me a PM and I can give you the contact info of a guy who specializes in that. I was shocked how much money I was leaving on the table.
Yo, what did you deduct?
 

owlegrad

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Yo, what did you deduct?
All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
 

lord999

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All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
I'm definitely surprised as a tax attorney does my household's and business, and I never could have deducted personal assets and get away with it for US or the Feds even for clearly separated items. It's one of the reasons why I had to form an LLC for it to keep the distinction. The depreciation/partial asset deduction does sound a bit shady under the revised rules for home offices, but you've not been audited yet.

Honestly though, the IRS is so understaffed that they are letting go of most minor issues that are not instantly provable. That said, the office could be a tax evasion office, there's consultancies at Deloitte and PWC that got hammered a couple of years back with treble damages for wealth management fraud and the IRS is just catching up.

 
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msweph

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All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
Not sure those are allowed anymore, unless your 1099 or self employed
 
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Z-Qualizer

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All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
In addition to your primary residence, do you also have rental properties? I have a friend with a few rental properties, and that's how he's able to deduct similar items. I'm obviously not a tax expert though.
 

pezdispenser

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All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
If you're an employee, you used to be able to deduct home office expenses and unreimbursed employee expenses, but these have been eliminated since the 2019 tax year. If you're self employed or a 1099 contractor, you can still deduct them.
 
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mentos

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All kinds of stuff. Part of the cost of my mortgage, car payment, computer purchase, other stuff I am sure I am forgetting. Truthfully it sounded kinda shady to me but the accountant assured me it is all legit. Apparently their clients have only be audited by the IRS a handful of times and in each case the IRS accept the amended returns after the audit. The accountant handles the audit if it happens for no extra charge of course. If you're interested feel free to shot me a PM. To be honest I never would have thought I would have been comfortable with it myself but after discussing it with the accountant I feel good about it.
Why would you be able to deduct car payment? Some car loans are 0%, so the government would pay for your car?
 
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