How many of you invest?

[Jogeephus]

I bought a 10 pound copper ingot off ebay last year.

What are you asking for it?

I got a bunch of older copper pennies. Their weight is worth more in copper than face value.

 

[Caustic Burno]

I have a few of these squirreled away
Had this one made up for a grand daughter

 

[SJB]

82vette - point taken about the taxes. I still submit that without a ton of know-how that tax hit in an investment account for the average joe is going to be prohibitive. If you get to the level of understanding you have about it, you ain't going to be asking for pointers on a cow forum!

 

[ga.prime]

I bought a 10 pound copper ingot off ebay last year.

What are you asking for it?

I got a bunch of older copper pennies. Their weight is worth more in copper than face value.

I read somewhere recently that even the copper clad zinc pennies are worth more than their face value.

That ingot was no bargain. Not really an investment but makes a good doorstop and conversation piece. Copper on world markets I think is somewhere in $2-$3/lb range. That ingot I think was $6-$7/lb. There's plenty more on eBay. I looked and I think they're cheaper now than when I got mine last year.

 

[Jogeephus]

Not that it really matters but this could be handy to know sometime but did you know a milk jug of pennies is worth roughly $50.

 

[Caustic Burno]

Not that it really matters but this could be handy to know sometime but did you know a milk jug of pennies is worth roughly $50.

I would say it is more of a hobby on the coins with me I have a couple rolls of uncirculated buffalo nickels a roll or two of silver dollars and a pile of mercury dimes. Still have quite a few silver certificates I think, I stuffed them in a safety deposit box years ago.
Have not been in the box in years I guess everything is still in it as they send me a bill for the box every year.

 

[TexasBred]

Not that it really matters but this could be handy to know sometime but did you know a milk jug of pennies is worth roughly $50.

I would say it is more of a hobby on the coins with me I have a couple rolls of uncirculated buffalo nickels a roll or two of silver dollars and a pile of mercury dimes. Still have quite a few silver certificates I think, I stuffed them in a safety deposit box years ago.
Have not been in the box in years I guess everything is still in it as they send me a bill for the box every year.

The big question CB is "Do you have any idea where the key is"??? :lol: :lol:

 

[Caustic Burno]

TB I think I do.
I know for a fact I haven't opened it since 07 or 08 haven't been in the bank since then.
It might just be an empty box

 

[herofan]

Another question:

For those of you who have invested for many years, what steered you in that direction? Did your parents invest and it just seemed like the normal thing to do, or did you just pursue it on your own without any persuasion from others?

 

[Caustic Burno]

Another question:

For those of you who have invested for many years, what steered you in that direction? Did your parents invest and it just seemed like the normal thing to do, or did you just pursue it on your own without any persuasion from others?

Are you kidding my folks didn't even believe in banks. They did buy war bonds and savings bonds when they died in 02 I guess they still had ever bond they ever bought. I know the bank had to call the government to get the value on some as they were over fifty years old,

 

[HDRider]

I spoke with a guy from Hilliard & Lyons yesterday. Being that I will have a state retirement, he said I had the retirement part taken care of. He didn't mention an IRA or anything of the sorts.

The taxes will kill you in a straight investment account, and your accountant will kill you if the taxes don't.

You should read about a Roth IRA. You can get your principal out for any reason at any time should you have a need. I use mine as my emergency savings, making sure to account for the possibility of having to sell some stock at a loss should an emergency happen.

I agree about looking into a Roth IRA. I don't know your level of understanding. Your guy should have told you to fund your retirement account at work first. At least to gain the maximum employer contribution match. Then your Roth IRA. You may even fund a spouses Ira/Roth account should the not have earned income. For example...I put $1600 into my Ira and the rest into my Roth because 1600 was the most that was deductible for me. I fully funded my wife Roth because she is retired and has no earned income. I had enough earned income to fund them.

The blanket statement about taxes in an individual account is a disservice to many. Maybe it's too complex but understanding how to "manipulate" schedule D can be very fruitful. Get yourself some tax software and see the taxable effect on different income levels. Take time to learn about tax gain/loss harvesting, how it effects your cost basis and taxes. Harvesting losses lowers a basis. Harvesting gains raises it. Why would you harvest gains? :shock: gasp..... Knowing where taxes on gains kicks in is key and it is a moving target. I paid no taxes on $72,000 worth of capital gains last year. No taxes on $56,000 the year before. Wasn't so lucky the year before that. We were finish up the house which I was writing checks for. Cost ran more than I had anticipated and had to overshoot that sweet spot. It does take time and effort, but you can tax manage a taxable account. If you don't want to put the time in to do it, I know most mutual fund companies have tax managed funds that might help with the tax sting.

82,
If you are comfortable sharing, I'd like to hear a couple of ways you managed that, at a high level. I understand if you aren't.

Did you do it with offset losses?

Or is is some type of tax exempt investment? I can't imagine such a thing, but I really am at a loss how you did such an exceptional job.

Taxes are the bane of my existences. Please excuse me if you feeling I am prying.

 

[1982vett]

HDRider, Take a look at the Qualified Dividends and Capital Gain Tax Worksheet. It is in Schedule D. I'm not 59 1/2 yet so no tax exempt income to take into account....but had I had withdrawals from Ira's or 401k's it would have been taxed as ordinary income.



Line 8 Enter:
$37,450 if single or married filing separately,
$74,900 if married filing jointly or qualifying widow(er)
$50,200 if head of household.

This is the "base line" for 0% taxable dividends and capital gains. I'm married filing jointly so i enter $74900.

Now Line 1 is the amount from Form 1040, line 43 which is taxable income ($74844)

Line 2 is qualified dividends ($2381)

Line 4 is qualified dividends plus capital gains ($74726)

Line 7 is dividends plus gains minus taxable income ($118)

Line 8 is the married filing jointly number ($74900)

Line 9 is smaller amount of taxable income or Line 8, 74900 ($74844)

Line 10 smaller of line 7 or line 9 ($118)

Line 11 Subtract line 10 from line 9....this is the amount taxed a 0% ($74726)

Had line 4, 6, or 11 been more than $74900, that amount would have gone on to be taxed at 15% up to another calculated number and then 20% of anything above that number. Line 8 doesn't change for the year. The other numbers do change depending on your starting point which is your taxable income.

It's usually early November when I get my copy of TurboTax software. I run my numbers to see where I'm at and make the plan.

 

[Hunter]

You gain nothing if you don't sell. That was one of the first things someone told me when I started buying individual stocks.

I will sell covered calls, take in the premium and if they get called away so be it as I am happy with the return.
Sure it has cost me larger gains but it also lessons my losses if the stock trends down.

 

[backhoeboogie]

You could also make a case that you lose nothing if you don't sell. I've actually heard that one a time or two.

I like equities. Right now I am waiting until the election results are in. Really hoping investor confidence comes back to what it was before the crash nearly 8 years ago.

 

[herofan]

82vette - point taken about the taxes. I still submit that without a ton of know-how that tax hit in an investment account for the average joe is going to be prohibitive. If you get to the level of understanding you have about it, you ain't going to be asking for pointers on a cow forum!

I wasn't planning to build a portfolio based on what I get here, but I like to hear from real people who invest and how it has worked for them. It sounds like some people here are knowledgeable, but like everything else, ask ten people and one will get ten different answers.

 

[TexasBred]

82vette - point taken about the taxes. I still submit that without a ton of know-how that tax hit in an investment account for the average joe is going to be prohibitive. If you get to the level of understanding you have about it, you ain't going to be asking for pointers on a cow forum!

I wasn't planning to build a portfolio based on what I get here, but I like to hear from real people who invest and how it has worked for them. It sounds like some people here are knowledgeable, but like everything else, ask ten people and one will get ten different answers.

True....and I'm one of those that had some money to invest but didn't feel really qualified to designate where I thought it should go so don't really mind paying a broker to help me. He's reasonable and has always done a good job. Others enjoy the challenge of doing it themselves but it's not really for me. I have a hard enough time trying to figure out when to buy or sell a cow. :lol2:

 

[Ryder]

82vette - point taken about the taxes. I still submit that without a ton of know-how that tax hit in an investment account for the average joe is going to be prohibitive. If you get to the level of understanding you have about it, you ain't going to be asking for pointers on a cow forum!

I wasn't planning to build a portfolio based on what I get here, but I like to hear from real people who invest and how it has worked for them. It sounds like some people here are knowledgeable, but like everything else, ask ten people and one will get ten different answers.

Different people with different opinions is what makes the market.

 

[Hunter]

When first round QE was happening I bought stocks I thought would increase due to inflation. That didn't work out so well. Few years ago I started buying higher div yielding stocks and also started investing in a Vanguard fund.
I did well investing in some Pot stocks back in '13 I think.

 

[ga.prime]

You could also make a case that you lose nothing if you don't sell. I've actually heard that one a time or two.

Or, you could lose everything if you don't sell. I bought 100 shares of WorldCom stock in 2000 for about $30/share, I think it was. A few months later, 100 shares of WorldCom was worth zero dollars and WorldCom was in bankruptcy.

 

[herofan]

82vette - point taken about the taxes. I still submit that without a ton of know-how that tax hit in an investment account for the average joe is going to be prohibitive. If you get to the level of understanding you have about it, you ain't going to be asking for pointers on a cow forum!

I wasn't planning to build a portfolio based on what I get here, but I like to hear from real people who invest and how it has worked for them. It sounds like some people here are knowledgeable, but like everything else, ask ten people and one will get ten different answers.

True....and I'm one of those that had some money to invest but didn't feel really qualified to designate where I thought it should go so don't really mind paying a broker to help me. He's reasonable and has always done a good job. Others enjoy the challenge of doing it themselves but it's not really for me. I have a hard enough time trying to figure out when to buy or sell a cow. :lol2:

Same here. As I mentioned in an earlier post, I went to Hilliard & Lyons. I know some other people, including my brother, who use them and they are well pleased.