I hear you…… lol
it moved fast upwards and will move fast downwards.
I just got done reading WSB. I like what I am seeing. It is keeping me off the cliff. I will be looking for a rebound next week.
This is from WSB…….
Good luck! Pulling for ya!
I think it's typical Friday sell dip.
It is making you some great numbers today...congrats...I am not a hold with huge profits made investor I sell when I make a certain amount of profit and if the asset is still moving I buy back in chunks at a time, but in your case you enjoy the ride and have been 100% dead on with holding this long, AI is nuts, going crazy and probably still has not hit anywhere near its peak, if it drops you have still made a grip, if it keeps going up you are on a ride of your life. I would love to see it hit 2k and you still held but I would hate to see it drop large % and you did not sell at least a portion at huge profits. Always do what your gut tells you to do, sometimes we are right sometimes we are not...I hope when its time to walk you walk with a GIANT Number that is for sure.
I hope so…….
So I've had some MSFT in my name since I was a young child. The only thing I've ever done is turn DRIPS on whereas I used to take the dividends and put it into a Roth IRA. There have been a couple of times in the past 4 years where I think to myself that I should somehow take advantage of the over 1000% gains but I just can't see selling any as anything other than a shortsighted immediate gratification move. It'd be buy a nice watch money, not tell my boss I'm done or buy a 2nd home cash money. Is there a way you can take advantage of paper profits without actually selling? I've read that is what Elon does, he doesn't get paid from his companies, he just gets loans based on his shares as collateral. He's obviously playing a different game, but curious if there is any way to capitalize or benefit from gains "responsibly" without just outright selling the shares.
Simple Answer is: NO. The monster investors have financial firms handling their tax liabilities and they know every trick in the book to protect their clients. For us normal folks these loopholes can get us into the sights of big brother and cause an audit, they don't care because the costs are negligible for them, for us it could be costly to defend our actions and greatly outweigh any potential profits.
Thanks for the reply. I truly plan to hold the shares until retirement or they're absolutely needed. At this point, after paying the taxes it would cover a couple years living expenses, which I don't need because I'm happily employed and have other means to pay for cost of living if being employed stopped. Seeing the massive increase in value of the shares and the "paper" profit (1500% as of the most recent highs that were touched before falling over the past week) it sucks to not be able to utilize those gains for anything other than mental day dreaming about the future.
You are crazy. Are you already set for life financially? That could be the only reason not to take some profits on such a huge gain.
He is a tour boat captain doing what he loves and working when he wants. His wife is a senior partner at a prestigious law firm. They have no kids and live in a high rise condo overlooking the water in Florida..pretty sure he's doing fairly well.
Gotcha. Different levels to this game. He is sitting on dbl what my retirement is forecasted to have in 20yrs.
I think you did an excellent job summarizing my situation. I couldn’t have worded it any better!
Yes
And one of the nicest guys here on RDP and cant wait till my little one is older so I can sneak off to FL and do the grand tour with you!
Oops missed that one. In any event I applaud your success.
Gotcha. Need a 44 yr old son?
That’s one of the nice things about investing. You haven’t lost a dime nor made 3 million. On any given day your portfolio has gone up or down, but you settle up when you sell. That is planned to minimize the taxes. If you haven’t already, need to do some estate planning.
Figure 37% on the fed level.......
| Tax Rate | For Single Filers | For Married Individuals Filing Joint Returns | For Heads of Households |
|---|---|---|---|
| 10% | $0 to $11,600 | $0 to $23,200 | $0 to $16,550 |
| 12% | $11,600 to $47,150 | $23,200 to $94,300 | $16,550 to $63,100 |
| 22% | $47,150 to $100,525 | $94,300 to $201,050 | $63,100 to $100,500 |
| 24% | $100,525 to $191,950 | $201,050 to $383,900 | $100,500 to $191,950 |
| 32% | $191,950 to $243,725 | $383,900 to $487,450 | $191,950 to $243,700 |
| 35% | $243,725 to $609,350 | $487,450 to $731,200 | $243,700 to $609,350 |
| 37% | $609,350 or more | $731,200 or more | $609,350 or more |
That's "income" not long term capital gains.
yep.....37%
www.forbes.com
For me I went early on to the Merril Lynch slaughterhouse . My buddy's dad was the boss of our local branch, and he led me to my other big loser and lesson which was a spec house on a 20% slope rocky hillside I worked real hard on for a year , sold it and put 7 K into my old Sep ira, and the rest into all his recommendations ..... their "emerging Latin America fund" , " Asian fund" etc etc. All that shit went to zero basically other than some AMAT that I still have . I used to work with a guy named Andy whose FIL was a real legit big whig at Bear Stearns. We'd be sitting eating lunch and he would quietly tell us stuff like deals with MGM / Steve wynn and many others and everything he said played out like clockwork. That's when I knew the whole thing was rigged from the inside out, but Schwab has been a nice user friendly alternative for us for basic investment stuff in all the years since. Nothing like a piece of RE though, you may owe tax on it but at least you can stand there and take a piss on it -
Totally got it. Lol
