• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

Investment Thread - For all your money needs

Maybe he's the same dude and people are just hearing what they want to hear.
 
It is amazing to me that people are defending SBF in any way. The dude is a liar and knowingly fucked over thousands of people.

Now he's talking like he had no idea what was going on when he was the main guy involved in all of this stuff... It's not even like he can make the typical CEO excuse of "that was day-to-day stuff I'm not involved with". It's amazing that anyone is falling for this shit.

It's 100% the hot dog car accident sketch.
 
We%27re_All_Trying_To_Find_The_Guy_Who_Did_This_banner_1.jpg
 
Sounds like Binance may be on the brink of collapsing. Allegedly failed an audit and have frozen some withdrawals the last 24 hours.

Kiss the crypto industry goodbye if it happens.
 
Liquid Karma said:
Sounds like Binance may be on the brink of collapsing. Allegedly failed an audit and have frozen some withdrawals the last 24 hours.

Kiss the crypto industry goodbye if it happens.
Click to expand...
both binance and FTX were the two major players using tether. I think most have assumed both would collapse eventually, so the industry can survive both going down. I mean binance doesn't even have an office!
 
So on my last paycheck at my prior company, I finally qualified for the 401k. So I have one paycheck's worth of investment in a random Transamerica 401k. For some reason, I am told this cannot be transferred into any of my Fidelity accounts (2 IRAs and a different 401k) and my only option is to open a new fidelity account to transfer it over. Does this seem correct to anyone?
 
TimmyClutch said:
So on my last paycheck at my prior company, I finally qualified for the 401k. So I have one paycheck's worth of investment in a random Transamerica 401k. For some reason, I am told this cannot be transferred into any of my Fidelity accounts (2 IRAs and a different 401k) and my only option is to open a new fidelity account to transfer it over. Does this seem correct to anyone?
Click to expand...
Not all that surprising that you can't add to a different 401k, surprising you can't rollover the Transamerica 401k to either of the IRAs. Are any of the Transamerica 401k or IRAs roth accounts? That's the only thing I can think of.
 
Wakelaw2006 said:
Not all that surprising that you can't add to a different 401k, surprising you can't rollover the Transamerica 401k to either of the IRAs. Are any of the Transamerica 401k or IRAs roth accounts? That's the only thing I can think of.
Click to expand...
This is what I recall. Can't rollover to an existing 401k but you should be able to rollover to an existing roth IRA. But I have a finance guy that handles all that for me if/when needed.
 
Yeah it might be your existing accounts at fidelity are all pre-tax and your new 401k is after-tax (Roth) so they can’t roll that into a pretax acct. or vice versa.

Or they just don’t know and you might want to call back and try again with another rep and Karen them into getting a manager who can either get it done or explain to you why not.
 
TimmyClutch said:
So on my last paycheck at my prior company, I finally qualified for the 401k. So I have one paycheck's worth of investment in a random Transamerica 401k. For some reason, I am told this cannot be transferred into any of my Fidelity accounts (2 IRAs and a different 401k) and my only option is to open a new fidelity account to transfer it over. Does this seem correct to anyone?
Click to expand...
Sorry for the delayed reply- just seeing this.

Most 401(k) plans will have a "force out" provision that allows for any participants who are no longer employed to be kicked out of the plan. Transamerica should send you distribution paperwork to find out where you want the check (or where you want the funds transferred). Others are right to point out the Roth vs. pre-tax issue. What you get may also be impacted by any vesting schedule that applies to employer contributions- if there were any. Ultimately, if you have a traditional IRA, there should be no problem with rolling over the 401(k) balance into that. Happy to answer any questions for you by PM if you want.
 
Apologies if this type of question has been addressed here at some point, I tried searching but 12 years of thread history is a lot to read...

We have some some large expenses coming due in the next month or so that outstrip our normal cashflow. Had an unexpected $20k plumbing issue recently that wasn't covered by insurance (awesome), have to pay the balance on a big trip the whole family is taking this summer, a couple other one-time things like that that are all coming together at once. Probably need $35k in February.

My question is, I'm trying to decide if it's better to take the money from a taxable brokerage account, or borrow the money (I have the option to take a line of credit through the brokerage firm at about 7.5% APR). The other variable is we're currently putting $2,500/month ($1,250 2x/month) into the brokerage account as part of overall savings plan.

With taking the money out of the brokerage account, the account value is reduced by $35k, plus there are likely some tax implications (will almost certainly have some cap gains that would be triggered). But I'm not paying any financing charges. We'd begin to rebuild the account balance almost immediately at $2,500/month, plus a larger lump sum contribution later this spring when my wife gets an annual bonus.

With taking the line of credit, the account balance isn't impacted, there is no taxable event, but I'm paying finance charges for the duration of the loan (probably will take 6-8 months to pay off), and there is also the opportunity cost of not being able to add to the investment account (because the brokerage will apply every deposit made to paying off the line of credit before allowing you to invest in the account) over that 6-8 month period, which is slightly concerning especially if the market stays flat/shitty - seems like a time that would be good to be buying in.

Any thoughts/advice on if one approach vs. the other is significantly better?
 
In the taxable brokerage account do you have a mix of investments that both made and lost money that you could sell so that the overall gain/loss is $0 and thus no taxable event? I'd do that and save the 7.5% and just rebuild the balance back up.
 
DeacInVermont said:
Sorry for the delayed reply- just seeing this.

Most 401(k) plans will have a "force out" provision that allows for any participants who are no longer employed to be kicked out of the plan. Transamerica should send you distribution paperwork to find out where you want the check (or where you want the funds transferred). Others are right to point out the Roth vs. pre-tax issue. What you get may also be impacted by any vesting schedule that applies to employer contributions- if there were any. Ultimately, if you have a traditional IRA, there should be no problem with rolling over the 401(k) balance into that. Happy to answer any questions for you by PM if you want.
Click to expand...
look at the SPD
 
dartsndeacs said:
In the taxable brokerage account do you have a mix of investments that both made and lost money that you could sell so that the overall gain/loss is $0 and thus no taxable event? I'd do that and save the 7.5% and just rebuild the balance back up.
Click to expand...

This - if you can sell specific lots you should have some that are in loss positions, assuming you invested in anything lately.

Def do not take a loan and in the future it’s probably good to build up an emergency fund in like a high yield savings acct for things like this.
 
dartsndeacs said:
In the taxable brokerage account do you have a mix of investments that both made and lost money that you could sell so that the overall gain/loss is $0 and thus no taxable event? I'd do that and save the 7.5% and just rebuild the balance back up.
Click to expand...
06deacon said:
This - if you can sell specific lots you should have some that are in loss positions, assuming you invested in anything lately.

Def do not take a loan and in the future it’s probably good to build up an emergency fund in like a high yield savings acct for things like this.
Click to expand...

Yes - could sell lots in a way to minimize tax impact.

Regarding the high yield savings account - we do have one, but only keep like $3k in it. Hard to justify parking $40k in a savings account, even a high yield one, unless I'm missing something and need to think of it differently.
 
You must log in or register to reply here.
Back
Top