As stated earlier we have actually done these things over last 2 years. $10k for me, $10k for wife account. $10k for living trust. And $10k for self employed business. Plus now using the gift box to front load gifts to each other for future years to lock into the 9.62 rate for six months. Buy I Bonds as a Gift: What Works and What Doesn't Individual - Savings Bonds as Gifts
Living trusts have pros and cons as an estate planning tool. They do help you avoid probate for any asset that is retitled to the trust. Living trusts are revocable. They can also be an effective way to transfer title to assets more easily upon the death of one spouse The downside is they are oversold, and in most cases probate isn’t that expensive. The cost of probate may not be any more than the cost of the living trust. Plus you have to retitle yours assets to the trust in order to avoid probate. Many strip mall type attorneys or ones giving a free steak dinner will heavily pimp RLTs. Having said all that we do have an RLT for some specific reasons. If your purpose was to use the RLT as an estate planning vehicle I’d prefer an actual estate planning attorney. If you wanted to set up an RLT just for the ibonds you can get RLT templates online from legal sites like nolo. you could set yourselves up as co trustees of one living trust, or you could set up a separate RLT for each you. From an estate planning perspective there probably isn’t a need for two, but for ibonds you could buy more with two. We only have one and spouse and I are co-trustees.
Actually if you buy ibonds over the years they can become a form of second level emergency/liquidity fund. With current ibond rates I’ve reduced the amount sitting around in bank accounts. Once you have past the first year it is easy to just transfer it out if you need it. At that point you will recognize cumulative interest as taxable so I rarely tap these unless necessary. Having said all that lots of people have struggled with issues on the treasury direct website in terms of getting locked out. Over about 15 years I’ve never had any problems but I’ve heard a lot of accounts where people have. For that reason I probably would always want enough emergency money in cash or equivalents to fund a real short term emergency.
I have 3 years before I have to make minimum required distributions from my IRA. This has got to be safe money. I Bonds are for individuals and not IRAs. The best rate I can find locally right now is 2.60% with Navy Federal Credit Union locked up for 33 months. Got any suggestions for what I can do in a safe and secure instrument? I'll have to move the IRA to an MMSA which pays shit when I start to draw down the minimum required distributions.
Nah. I know better. And, this was in an IRA - can't imagine what tax headaches that would have created even if they tried to undo it....!
Checked first thing this morning. The APY on a 33-month CD at Navy Federal Credit Union is 3.30% effective 8/1 which is in line with the brokered CDs at Vanguard. It has a $100,000 maximum so I can't do all in the 33-month CD, but I can do work arounds on the rest which will give me a decent yield until I start my required minimum distributions. The federal reserve isn't scheduled to make another interest rate change until September 27, so I don't see any reason not to go ahead with the 3.30% APY. I get to keep NFCU as my primary financial institution to boot which makes my wife happy. Happy wife = happy life.
I have my money in a 401k, real estate holdings, a savings account and stock. What else is a good investment vessel? I'm nearing retirement in about 3 -5 years.
everyone’s goals are different- some are in wealth preservation mode (they have enough to retire comfortably) and weight towards bonds annuities and other safe investments, some are in growth mode and lean toward stocks, crypto and other higher risk reward ones. Some have properties that make money, some lose money which impacts what you should do with it. Heck, downsizing their housing is a legit discussion for many. Some have to worry about money for their kids some don’t which impacts whether you want to do annuities or trusts. Some will pay a higher tax rate in retirement, some a lower one, which impacts how and where to invest. I would suggest talking to a professional. If you have a decent amount saved, even an initial consultation is probably worth the money. I would never pay them to manage my accounts though. Jmo.
Just bought about $15K of RIVN to bring my total up to around $25K. Is that dumb? I really don't know. But I plan on holding it for a long time.
Largely depends on how concentrated you are in it. It’s a very different answer if it’s 1 percent of your portfolio vs 100.
Ryan Cohen did. Meme Lord Ryan Cohen Unloads Bed Bath & Beyond Bet, Sending Shares Spiraling Meme Lord Ryan Cohen Unloads Bed Bath & Beyond Bet, Sending Shares Spiraling Move comes roughly five months after taking a major stake in the company and pushing for changes At its August peak, Bed Bath & Beyond shares climbed to $30 intraday, up nearly 500% for the month. They finished Thursday at $18.55, down 20%—after Mr. Cohen’s proposal to sell his shares was revealed—before falling an additional 35% in after-hours trading after securities filings showed that he had sold all of his shares. “Somebody bought it at $30, and someone lost 12 bucks a share to enrich Ryan Cohen,” said Michael Pachter, an equity research analyst who covers GameStop for Wedbush Securities. “That’s a retail investor who bought the stock.” Mr. Cohen netted a profit of about $60 million on his sale of the stock based on an analysis of regulatory filings. He declined to comment.
So just for fun, by my math… I started working at 16 and worked through college, so around 7 years. I lost more today than I made in those 7 years combined lol.
someone heard me! https://www.cnbc.com/2022/09/26/thr...ud-in-100-million-new-jersey-deli-scheme.html
We now return to pre-pandemic levels of interest in the stock market: https://www.cnbc.com/2022/09/29/a-d...-retail-investors-are-leaving-the-market.html It's been said before, notably by Peter Lynch, that you should be concerned when you're getting offered stock tips from the shoe shine guy. Happens every time at the end of a bull market - everybody and their brother are getting in on the action. Then the market contracts and the smaller retail investors tend to be the first ones to shake out. Interesting that google search data can now be used as a measure of investor sentiment. My advice: stick it out, keep investing regularly, don't try to time the market. I built a good portion of my nest egg with money put aside during the 2008 dip, and rode the boom market that came after. I'm not going anywhere this time either...
