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Talking stocks, trading, and investing in general

lawyerdad

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You're not that old, I was just really good at my job. Or maybe you were just terrible at yours?
I’m sure I was, but I was an amusement park janitor and the pay rates were standardized by job function/tenure.
 

Piobaire

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NEW RECORDS! YOU'RE WELCOME!!!!
 

jbarwick

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My FIL wanted to talk investments the other night and it was after a few glasses of wine. The one thing that stood out was the sheer amount of fees they have paid and are continuing to pay for the annuities they were scared into buying during 08/09. I feel like $3M in assets were put into annuities and the fee is somewhere are 4.0%-4.5% annually. So for 11-12 years, they have paid over $1M total in fees. They have tried to make excuses for owning them but damn fees are a bitch.
 

Omega Male

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You can usually tell how awful a financial product is by how heavily incentivized advisers are to push them. The fucker who foisted those dogs on your ILs would have pocketed $200K+ on the deal.
 

patrickBOOTH

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My FIL wanted to talk investments the other night and it was after a few glasses of wine. The one thing that stood out was the sheer amount of fees they have paid and are continuing to pay for the annuities they were scared into buying during 08/09. I feel like $3M in assets were put into annuities and the fee is somewhere are 4.0%-4.5% annually. So for 11-12 years, they have paid over $1M total in fees. They have tried to make excuses for owning them but damn fees are a bitch.
That's awful. I feel like with a little know how one can successfully manage to create their own annuity.
 

jbarwick

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You can usually tell how awful a financial product is by how heavily incentivized advisers are to push them. The fucker who foisted those dogs on your ILs would have pocketed $200K+ on the deal.
They still consider that old guy a friend. They did mention he bought a Porsche during the depths of the crisis.

As for my IL's, they were somehow surprised we made 25% last year without much effort on our end.
 

imatlas

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Right around the same time we talked my in-laws into putting some of their assets into an index fund and Berkshire B shares; the rest they insisted on putting into an annuity based on their financial planner’s advice.

My MiL recently thanked my wife for that, which was nice.
 

jbarwick

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"When stocks are coming out of a prolonged downtrend, this is an excellent buy signal. When it triggers with stocks at or near new highs, it’s more of an exhaustion signal in the medium-term, but still a good sign long-term."

 

brokencycle

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My employer as awarded me RSUs. If I understand correctly, I pay ordinary income tax on the value at vesting, right? Then I also have to pay capital gains on sale which will be ordinary income rates because I'm selling in less than a year.
 

patrickBOOTH

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So the way my company does it is you literally can't sell them until they vest. The normal stock purchase program is separate from RSU, where you would be able to sell as soon as you bought into it (with a plan specific penalty). RSU you can elect to be awarded the shares, or the cash value minus "bonus" income taxes (the highest marginal rate, which you will be made whole in April if need be). Capital gains doesn't come into play unless you elect the shares and sell them down the road at a higher basis. So if you just take cash value from a tax perspective it looks like you just received a bonus.
 

cross22

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My employer as awarded me RSUs. If I understand correctly, I pay ordinary income tax on the value at vesting, right? Then I also have to pay capital gains on sale which will be ordinary income rates because I'm selling in less than a year.
You pay ordinary income tax at vesting, pay ordinary income tax if selling before a year on the difference between selling and vesting, and you pay capital gains tax on the difference if selling after more than a year.
 

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