Do you even invest?

[nuggstein]

The bad thing with Coinbase is that they own the private key, so technically they control your Bitcoins. I've been thinking about getting a hardware wallet, such as Trezor. It should only be purchased directly through them. That way it's mine/yours to do whatever with, and if there are any forks, such as Bitcoin Cash, or the failed Segwit2X, we'd be able to get those immediately, vs. waiting for Coinbase to give us access. If you bought Bitcoin before the Bitcoin Cash fork, you essentially got free Bitcoin Cash coins/money, but could not do anything with it since Coinbase doesn't support it yet. Come mid-January or so, they will give us access. Right now Bitcoin Cash is around $600. However many Bitcoins you had prior to the fork, that's how many coins of the other currency you have. It's pretty sweet. People made lots of money just from the fork, when they had individual control of their keys.

https://trezor.io/

are you even talking about

Right now credit card fees are like 3%+. With Bitcoin, transaction fees are 0% - 2%, which is why it's becoming such a hit, and more merchants are accepting it as means of payment. Papa John's now accepts it.

Essentially there are teams out there to try to make a better Bitcoin, faster, cheaper transactions, etc. There's a lot of negatives about this, I can't really explain it, but from I personally understand, is that the "blockchain" splits, becoming two. And then all of a sudden you now have coins on both blockchains. It's possible that Bitcoin Cash (one of the forks/splits) could overtake Bitcoin if it was better, and then everyone would try to dump their Bitcoins into Bitcoin Cash. That didn't happen, and it was the reverse effect. When the fork/split happened, people who owned 10 bitcoins, now also owned 10 Bitcoin Cash coins @ whatever value they were at. People made a shitload of money, almost think of it as an instant dividend from a stock. Except these can happen a lot. The Bitcoin Cash fork happened this year, and the Segwit2X fork was supposed to happen on November 16th, but now it's not because it was very sketchy how it worked, so it has been suspended.

If you have cryptocurrency through Coinbase, they own it. They own the private keys, so unless you move your coins to your own wallet where no one has access to it, it's not technically yours. So when the Bitcoin Cash fork happened, Coinbase was not supporting it, therefore, all Coinbase users were unable to cash out or buy Bitcoins with their Bitcoin Cash. Come mid-January of 2018, Coinbase will be supporting Bitcoin Cash, and we'll all have access to it from the time of the split. So I will have .5 of Bitcoin Cash coins. Those other users who had 10 Bitcoins, will have 10 Bitcoin Cash coins to do whatever they want with. Right now, Bitcoin Cash is worth about $600/coin, so someone who has 10 will get an instant $6,000.

If you have your own hardware wallet, such as Trezor, your cryptocurrency is all yours and secure, unless someone knew the 24 words you used to secure it and the passcode. This stuff should all be hidden away somewhere so that ONLY YOU can access it in case you forget, or someone else you trust with your life.

[Desertbreh]

Ok, it's been a few months now, and things have calmed down for me emotionally, and it's time to get down to business.
Since this is kind of serving as the general "Financial Advice" thread, in addition to investment discussions, I figured this would be a good place to post this.

My mother left my brother and I a sizable inheritance.
Primarily in a Merill Lynch IRRA and CMA

In addition to this, are a sum of assets, such as her house, two bank accounts, and a collection of antiques.
Brent (my bother) and I are going to keep all the antiques, and sell off what furniture we don't want. We plan to empty the house and sell it later this year, it's paid for, so will be a nice bit of cash for the both of us.

I've made an initial visit with the lawyer, who is working with Brent and I on estate succession.
I've met with my mother's financial adviser, who is trust worthy, he's handled my grand parent's accounts on my mother's and father's side, handled my mother's accounts for years, and his wife worked in the cancer detection lab with my mom for about fifteen years. Point is, I like the guy, and wouldn't mind continuing my business with him in the foreseeable future.

As I move forward, I'm doing my best to educate myself on the language of law and finance, as well as familiarize myself with the laws (and taxes) I'll now be subject to.

So, Fellow DFD-ers:
Has anyone had experience with Merill Lynch? Good or Bad.
Also,for those more savvy and experienced than myself, what would you do if you were me? And pointers, things to look out for, hurdles to avoid?

Lastly, I was really hesitant to post about this, because I didn't want to come off as a braggart.
It's not so much money I can quit my job and travel the world, nothing like that, just a little nest egg that I'd like to continue to grow until I retire.

Nice. Sometimes good deeds do go unpunished.

1. It's not "Merill Lynch" it's your "guy" at ML. Just take the time to look at each investment and see how it's performed over the last 10 years. Did this dude churn your mom's account or did she buy and hold?
You own all of this shit now so take a look. Some things probably need changed. Some don't.
2. I don't need to give you advice on not being an asshole, but look at the money as a kick start on retirement and nothing more.
3. Only use it to pay off any debt you have at crazy interest rates.
4. Have you and your brother thought about turning the house into a rental? Another nice income stream.

[Melon]

Nice. Sometimes good deeds do go unpunished.

1. It's not "Merill Lynch" it's your "guy" at ML. Just take the time to look at each investment and see how it's performed over the last 10 years. Did this dude churn your mom's account or did she buy and hold?
You own all of this shit now so take a look. Some things probably need changed. Some don't.
2. I don't need to give you advice on not being an asshole, but look at the money as a kick start on retirement and nothing more.
3. Only use it to pay off any debt you have at crazy interest rates.
4. Have you and your brother thought about turning the house into a rental? Another nice income stream.

All very good points.

1.) My mother had VERY conservative investment strategies, it's already been discussed to move it to more of a moderate risk strategy. This is going to be worked with my current salary, 401k, IRRA mandatory disbursements, and ignoring social security, to provide an investing strategy that gets me where I want to be when I retire.
And yes, it's grown equal to her withdrawls, which have been substantial in the past two years to pay off her medical debts.
2) Dat, it's definitely a chunk of change, but it's not winning the lottery.
3) Between residual bank accounts, life insurance, and the sale of her house, I'll be out of flood debt, but, I've already sent an email asking for a meeting with my guy at ML to discuss what the wisest course of action would be for me to take regarding the funds.
4) I just rebuilt from the flood, it's nothing I have interest in doing again. Between work, and the past two years of constant stress, I don't need another headache. This way it's a clean break, I do as little as possible, we both walk away with some extra funds.

[Melon]

are you even talking about

Right now credit card fees are like 3%+. With Bitcoin, transaction fees are 0% - 2%, which is why it's becoming such a hit, and more merchants are accepting it as means of payment. Papa John's now accepts it.

Essentially there are teams out there to try to make a better Bitcoin, faster, cheaper transactions, etc. There's a lot of negatives about this, I can't really explain it, but from I personally understand, is that the "blockchain" splits, becoming two. And then all of a sudden you now have coins on both blockchains. It's possible that Bitcoin Cash (one of the forks/splits) could overtake Bitcoin if it was better, and then everyone would try to dump their Bitcoins into Bitcoin Cash. That didn't happen, and it was the reverse effect. When the fork/split happened, people who owned 10 bitcoins, now also owned 10 Bitcoin Cash coins @ whatever value they were at. People made a shitload of money, almost think of it as an instant dividend from a stock. Except these can happen a lot. The Bitcoin Cash fork happened this year, and the Segwit2X fork was supposed to happen on November 16th, but now it's not because it was very sketchy how it worked, so it has been suspended.

If you have cryptocurrency through Coinbase, they own it. They own the private keys, so unless you move your coins to your own wallet where no one has access to it, it's not technically yours. So when the Bitcoin Cash fork happened, Coinbase was not supporting it, therefore, all Coinbase users were unable to cash out or buy Bitcoins with their Bitcoin Cash. Come mid-January of 2018, Coinbase will be supporting Bitcoin Cash, and we'll all have access to it from the time of the split. So I will have .5 of Bitcoin Cash coins. Those other users who had 10 Bitcoins, will have 10 Bitcoin Cash coins to do whatever they want with. Right now, Bitcoin Cash is worth about $600/coin, so someone who has 10 will get an instant $6,000.

If you have your own hardware wallet, such as Trezor, your cryptocurrency is all yours and secure, unless someone knew the 24 words you used to secure it and the passcode. This stuff should all be hidden away somewhere so that ONLY YOU can access it in case you forget, or someone else you trust with your life.

Did a little reading on this split of the blockchains. Seems to be very polarizing, and moving into uncharted territory.

[Desertbreh]

Nice. Sometimes good deeds do go unpunished.

1. It's not "Merill Lynch" it's your "guy" at ML. Just take the time to look at each investment and see how it's performed over the last 10 years. Did this dude churn your mom's account or did she buy and hold?
You own all of this shit now so take a look. Some things probably need changed. Some don't.
2. I don't need to give you advice on not being an asshole, but look at the money as a kick start on retirement and nothing more.
3. Only use it to pay off any debt you have at crazy interest rates.
4. Have you and your brother thought about turning the house into a rental? Another nice income stream.

All very good points.

1.) My mother had VERY conservative investment strategies, it's already been discussed to move it to more of a moderate risk strategy. This is going to be worked with my current salary, 401k, IRRA mandatory disbursements, and ignoring social security, to provide an investing strategy that gets me where I want to be when I retire.
And yes, it's grown equal to her withdrawls, which have been substantial in the past two years to pay off her medical debts.
2) Dat, it's definitely a chunk of change, but it's not winning the lottery.
3) Between residual bank accounts, life insurance, and the sale of her house, I'll be out of flood debt, but, I've already sent an email asking for a meeting with my guy at ML to discuss what the wisest course of action would be for me to take regarding the funds.
4) I just rebuilt from the flood, it's nothing I have interest in doing again. Between work, and the past two years of constant stress, I don't need another headache. This way it's a clean break, I do as little as possible, we both walk away with some extra funds.

Right-o on the flood, you've had your decade's supply of home improvement.

[Melon]

Must...

...resist...

...urge to buy a C7...

[Desertbreh]

Must...

...resist...

...urge to buy a C7...

Ha, ha if that were your only act of inheritance douchebaggery the gods of kharma would not frown on you.

[dubshow]

3 months in got vested. 8% out with that 4% match. Which I’m pretty happy with. 401k will stack really quickly with OT.

[dubshow]

Must...

...resist...

...urge to buy a C7...

Ha, ha if that were your only act of inheritance douchebaggery the gods of kharma would not frown on you.

If he sold it all and had independent women and kept his a c7 seems pretty logical. Especially a lightly used one.

[rockchops]

are you even talking about

Right now credit card fees are like 3%+. With Bitcoin, transaction fees are 0% - 2%, which is why it's becoming such a hit, and more merchants are accepting it as means of payment. Papa John's now accepts it.

Essentially there are teams out there to try to make a better Bitcoin, faster, cheaper transactions, etc. There's a lot of negatives about this, I can't really explain it, but from I personally understand, is that the "blockchain" splits, becoming two. And then all of a sudden you now have coins on both blockchains. It's possible that Bitcoin Cash (one of the forks/splits) could overtake Bitcoin if it was better, and then everyone would try to dump their Bitcoins into Bitcoin Cash. That didn't happen, and it was the reverse effect. When the fork/split happened, people who owned 10 bitcoins, now also owned 10 Bitcoin Cash coins @ whatever value they were at. People made a shitload of money, almost think of it as an instant dividend from a stock. Except these can happen a lot. The Bitcoin Cash fork happened this year, and the Segwit2X fork was supposed to happen on November 16th, but now it's not because it was very sketchy how it worked, so it has been suspended.

If you have cryptocurrency through Coinbase, they own it. They own the private keys, so unless you move your coins to your own wallet where no one has access to it, it's not technically yours. So when the Bitcoin Cash fork happened, Coinbase was not supporting it, therefore, all Coinbase users were unable to cash out or buy Bitcoins with their Bitcoin Cash. Come mid-January of 2018, Coinbase will be supporting Bitcoin Cash, and we'll all have access to it from the time of the split. So I will have .5 of Bitcoin Cash coins. Those other users who had 10 Bitcoins, will have 10 Bitcoin Cash coins to do whatever they want with. Right now, Bitcoin Cash is worth about $600/coin, so someone who has 10 will get an instant $6,000.

If you have your own hardware wallet, such as Trezor, your cryptocurrency is all yours and secure, unless someone knew the 24 words you used to secure it and the passcode. This stuff should all be hidden away somewhere so that ONLY YOU can access it in case you forget, or someone else you trust with your life.

Crangcoinz are the future. I've made 4x on crypto this year, would be more if I developed my trading bot more. If I had hung on to my couple hundred bucks of btc from back in the day id have almost 150k now. Welp...win some lose some, back in the game with a lot less now.

[Melon]

Must...

...resist...

...urge to buy a C7...

Ha, ha if that were your only act of inheritance douchebaggery the gods of kharma would not frown on you.

Nah, the larger items, such as flood debts I'll allow myself to pay off with cash proceeds.
Anything unnecessary, like a C7 has to be paid through my own means.
New wasn't such a big deal, the monthly payment is the same as what I've been paying for green truk + blue betch, and they're both paid off now.

Blue Betch is going to stick around for a while, hoping I get another good raise next summer.

[nuggstein]

Right now credit card fees are like 3%+. With Bitcoin, transaction fees are 0% - 2%, which is why it's becoming such a hit, and more merchants are accepting it as means of payment. Papa John's now accepts it.

Essentially there are teams out there to try to make a better Bitcoin, faster, cheaper transactions, etc. There's a lot of negatives about this, I can't really explain it, but from I personally understand, is that the "blockchain" splits, becoming two. And then all of a sudden you now have coins on both blockchains. It's possible that Bitcoin Cash (one of the forks/splits) could overtake Bitcoin if it was better, and then everyone would try to dump their Bitcoins into Bitcoin Cash. That didn't happen, and it was the reverse effect. When the fork/split happened, people who owned 10 bitcoins, now also owned 10 Bitcoin Cash coins @ whatever value they were at. People made a shitload of money, almost think of it as an instant dividend from a stock. Except these can happen a lot. The Bitcoin Cash fork happened this year, and the Segwit2X fork was supposed to happen on November 16th, but now it's not because it was very sketchy how it worked, so it has been suspended.

If you have cryptocurrency through Coinbase, they own it. They own the private keys, so unless you move your coins to your own wallet where no one has access to it, it's not technically yours. So when the Bitcoin Cash fork happened, Coinbase was not supporting it, therefore, all Coinbase users were unable to cash out or buy Bitcoins with their Bitcoin Cash. Come mid-January of 2018, Coinbase will be supporting Bitcoin Cash, and we'll all have access to it from the time of the split. So I will have .5 of Bitcoin Cash coins. Those other users who had 10 Bitcoins, will have 10 Bitcoin Cash coins to do whatever they want with. Right now, Bitcoin Cash is worth about $600/coin, so someone who has 10 will get an instant $6,000.

If you have your own hardware wallet, such as Trezor, your cryptocurrency is all yours and secure, unless someone knew the 24 words you used to secure it and the passcode. This stuff should all be hidden away somewhere so that ONLY YOU can access it in case you forget, or someone else you trust with your life.

Crangcoinz are the future. I've made 4x on crypto this year, would be more if I developed my trading bot more. If I had hung on to my couple hundred bucks of btc from back in the day id have almost 150k now. Welp...win some lose some, back in the game with a lot less now.

Damn dude. That's awesome. Hook me up with that trading bot.

[Barnes93cb]

So I've been doing some light reading recently and have begun to follow a few trading pages. I'm where I want financially that I think I can throw a few thousand at the market.

But I still find myself completely lost when it comes to charting and fully understanding all of the terminology.

What resources have everyone used to become educated?


Sent from my iPhone using Tapatalk

[SAWCE]

I might throw $1k at a roth IRA with Vanguard just to get started on that

[Barnes93cb]

I might throw $1k at a roth IRA with Vanguard just to get started on that

I already contribute 15% of my pay to a Roth IRA. Now I'm attempting to diversify and learn more. I'm willing to hold off on throwing money around. I'm looking for resources and knowledge.


Sent from my iPhone using Tapatalk

[dubshow]

So many new s in here.

[dubshow]

When this market turns, you will have a day of recognition. Just remember long term goals. And never sell when down.

[Melon]

It's all about the long game.

vs.

[nuggstein]

Damn, Bitcoin Cash is almost hitting $1,000. Highest it's ever been. Bitcoin is falling a bit, probably due to a correction. Wish I dumped all of my Bitcoin and put it into Bitcoin Cash. Could've doubled everywhere. Unfortunately, don't have access to my Bitcoin Cash through Coinbase until mid-January.

[Acid666]

What's up investment thread? Long time listener, first time caller.
So our 401K FINALLY got transferred over to this new company and I finally have access to at least SEEING what my money's doing. Before this company basically just gave us a sheet of paper once a year with an amount. Zero transparency. Now, I've got access to it online and can move things around if I see fit.
Started doing retirement calculators and shit, and some friends recommended setting up an account with Personal Capitol. Kind of nice, I can see all my income and spending in there and charts, along with my current debt. Just sad that it's not finding my 401K in the search where I can give it access to help point me in certain directions.

I've been putting 8% into it with a 4% match, but I need to renew some paperwork so I might change the amount to 10%. You have a limit to yearly contributions correct? I'm wondering if it's even worth it, or if I should just open a Roth IRA or something on the side and just do both. I'm still a noob to a bunch of this but I'm at least aware of what I don't fully know.

[Apex]

What's up investment thread? Long time listener, first time caller.
So our 401K FINALLY got transferred over to this new company and I finally have access to at least SEEING what my money's doing. Before this company basically just gave us a sheet of paper once a year with an amount. Zero transparency. Now, I've got access to it online and can move things around if I see fit.
Started doing retirement calculators and shit, and some friends recommended setting up an account with Personal Capitol. Kind of nice, I can see all my income and spending in there and charts, along with my current debt. Just sad that it's not finding my 401K in the search where I can give it access to help point me in certain directions.

I've been putting 8% into it with a 4% match, but I need to renew some paperwork so I might change the amount to 10%. You have a limit to yearly contributions correct? I'm wondering if it's even worth it, or if I should just open a Roth IRA or something on the side and just do both. I'm still a noob to a bunch of this but I'm at least aware of what I don't fully know.

Contribution limit is $18k for 2017 and is $18.5k for 2018.

[Acid666]

What's up investment thread? Long time listener, first time caller.
So our 401K FINALLY got transferred over to this new company and I finally have access to at least SEEING what my money's doing. Before this company basically just gave us a sheet of paper once a year with an amount. Zero transparency. Now, I've got access to it online and can move things around if I see fit.
Started doing retirement calculators and shit, and some friends recommended setting up an account with Personal Capitol. Kind of nice, I can see all my income and spending in there and charts, along with my current debt. Just sad that it's not finding my 401K in the search where I can give it access to help point me in certain directions.

I've been putting 8% into it with a 4% match, but I need to renew some paperwork so I might change the amount to 10%. You have a limit to yearly contributions correct? I'm wondering if it's even worth it, or if I should just open a Roth IRA or something on the side and just do both. I'm still a noob to a bunch of this but I'm at least aware of what I don't fully know.

Contribution limit is $18k for 2017 and is $18.5k for 2018.

Friend of mine just emailed me this. So yes, Apex is teh koreekt.
Looks like I'll be upping it to 10% since I'm doing ok with my fiances at 8%. PREESH DAT!

[troyguitar]

What's up investment thread? Long time listener, first time caller.
So our 401K FINALLY got transferred over to this new company and I finally have access to at least SEEING what my money's doing. Before this company basically just gave us a sheet of paper once a year with an amount. Zero transparency. Now, I've got access to it online and can move things around if I see fit.
Started doing retirement calculators and shit, and some friends recommended setting up an account with Personal Capitol. Kind of nice, I can see all my income and spending in there and charts, along with my current debt. Just sad that it's not finding my 401K in the search where I can give it access to help point me in certain directions.

I've been putting 8% into it with a 4% match, but I need to renew some paperwork so I might change the amount to 10%. You have a limit to yearly contributions correct? I'm wondering if it's even worth it, or if I should just open a Roth IRA or something on the side and just do both. I'm still a noob to a bunch of this but I'm at least aware of what I don't fully know.

Buy a

[Acid666]

Buy a

I have a $3K marvelous beater of a machine that you stood right next to at Nola. Even better bang for the buck than the Z!

[wap]

What's up investment thread? Long time listener, first time caller.
So our 401K FINALLY got transferred over to this new company and I finally have access to at least SEEING what my money's doing. Before this company basically just gave us a sheet of paper once a year with an amount. Zero transparency. Now, I've got access to it online and can move things around if I see fit.
Started doing retirement calculators and shit, and some friends recommended setting up an account with Personal Capitol. Kind of nice, I can see all my income and spending in there and charts, along with my current debt. Just sad that it's not finding my 401K in the search where I can give it access to help point me in certain directions.

I've been putting 8% into it with a 4% match, but I need to renew some paperwork so I might change the amount to 10%. You have a limit to yearly contributions correct? I'm wondering if it's even worth it, or if I should just open a Roth IRA or something on the side and just do both. I'm still a noob to a bunch of this but I'm at least aware of what I don't fully know.

Buy a

Can't afford not to.