Market/Financial Thread

[Soxbadger 573]

3 hours ago, Heads22 said:

Anybody have any experience with estates in probate (namely those with medical claims filed against them).

You can message me if you want. I presume you mean that a company has filed a claim to recover unpaid medical bills against an Estate?

[soxfan49 1,886]

14 hours ago, Heads22 said:

Anybody have any experience with estates in probate (namely those with medical claims filed against them).

Your best bet will be to hire a lawyer. Probate is bad enough, but medical bills, claims, etc is tough

[Heads22 1,286]

18 hours ago, Soxbadger said:

You can message me if you want. I presume you mean that a company has filed a claim to recover unpaid medical bills against an Estate?

I'll be shooting one your way here in a bit.

[Heads22 1,286]

7 hours ago, soxfan49 said:

Your best bet will be to hire a lawyer. Probate is bad enough, but medical bills, claims, etc is tough

Got one of those too.

[greg775 1,240]

I have a relative whose net worth is close to $1 million after inheriting money after both parents' deaths. She has no dependents and her husband is dead. She is close to retirement age.

Question: What do she do with that kind of money when she'll need to start spending some of it during retirement years? She currently is working. Is 900,000 to 1 mill enough to live on combined with social security payments that can start whenever she wishes between 62 and 65? I know nothing about money so thought I'd ask you kind folks.

[brett05 12]

18 hours ago, greg775 said:

I have a relative whose net worth is close to $1 million after inheriting money after both parents' deaths. She has no dependents and her husband is dead. She is close to retirement age.

Question: What do she do with that kind of money when she'll need to start spending some of it during retirement years? She currently is working. Is 900,000 to 1 mill enough to live on combined with social security payments that can start whenever she wishes between 62 and 65? I know nothing about money so thought I'd ask you kind folks.

This really depends on her ongoing expenses.

[greg775 1,240]

6 hours ago, brett05 said:

This really depends on her ongoing expenses.

Her ongoing expenses will be ongoing. Cept for SS she will need to feed herself daily, and pay rent monthly unless she buys a house and pays cash.

[soxfan49 1,886]

On 2/16/2020 at 3:27 PM, greg775 said:

I have a relative whose net worth is close to $1 million after inheriting money after both parents' deaths. She has no dependents and her husband is dead. She is close to retirement age.

Question: What do she do with that kind of money when she'll need to start spending some of it during retirement years? She currently is working. Is 900,000 to 1 mill enough to live on combined with social security payments that can start whenever she wishes between 62 and 65? I know nothing about money so thought I'd ask you kind folks.

This is a loaded question. I mean, how much is the SS payout monthly? Is she careful or careless with her money? If the payout is $1,500/month and she only spends $750 of it, she can probably live very well for the rest of her life with no issue. Keep in mind SS can now be taken at 67 and even 70 now, not just 62 or 65.

Just because she's inheriting 1M doesn't mean she will "need" to take distributions from it. If it's an IRA then yes but there are a few options- lump sum, 5 year or stretch IRA- but if it's a life insurance payout, she can simply take it and put it into a checking/savings. At that point I'd put some in a short term bond fund or a conservative mutual fund. Hell, even a CD isn't a bad option although the rates on those have declined over the summer.

Edited February 21, 2020 by soxfan49

[greg775 1,240]

6 hours ago, soxfan49 said:

This is a loaded question. I mean, how much is the SS payout monthly? Is she careful or careless with her money? If the payout is $1,500/month and she only spends $750 of it, she can probably live very well for the rest of her life with no issue. Keep in mind SS can now be taken at 67 and even 70 now, not just 62 or 65.

Just because she's inheriting 1M doesn't mean she will "need" to take distributions from it. If it's an IRA then yes but there are a few options- lump sum, 5 year or stretch IRA- but if it's a life insurance payout, she can simply take it and put it into a checking/savings. At that point I'd put some in a short term bond fund or a conservative mutual fund. Hell, even a CD isn't a bad option although the rates on those have declined over the summer.

thanx, much needed advice. thank u

[Jenksismyhero 55]

Whelp, hope everyone enjoyed the last year of growth! 

Edited February 27, 2020 by Jenksismyhero

[Look at Ray Ray Run 3,732]

Time to buy some more Tesla!

[caulfield12 1,737]

My co-worker here bought one in January.  Feel bad for him, as he and his wife have hardly been able to drive it.

Fortunately, his wife’s family chipped in 180,000 rmb, but still on the hook for 180k over 36 months, or about $700/month and $25000 total remaining.

Plus, he agreed to change his job next year to private consulting about China to US intl school admissions, which is looking iffier by the week with everything so uncertain.

Edited February 27, 2020 by caulfield12

[pettie4sox 145]

On 2/27/2020 at 9:36 AM, Jenksismyhero said:

Whelp, hope everyone enjoyed the last year of growth! 

Regression was always going to happen let's hope it doesn't regress too much.

[caulfield12 1,737]

Hit the breakers on futures trading at a 5% dive, oil prices cratering with supply war/glut between OPEC, Russia and US.

Markets set to open about 17% below DJIA highs of the last year.

-20% is textbook definition for bear correction.

[southsider2k5 5,896]

This is your tank day reminder.  Now is not the time to panic sell.  If you didn't already sell, you probably missed your window.  if anything, this is a bargain hunting day, assuming you are investing for the long term.

[caulfield12 1,737]

1 hour ago, southsider2k5 said:

This is your tank day reminder.  Now is not the time to panic sell.  If you didn't already sell, you probably missed your window.  if anything, this is a bargain hunting day, assuming you are investing for the long term.

Pretty hard to jump back into the market when a Wuhan/Italy outbreak promises another 10-15% fall in the market.

Yeah, yeah, dollar cost averaging from here on out the next year.

[southsider2k5 5,896]

Just now, caulfield12 said:

Pretty hard to jump back into the market when a Wuhan/Italy outbreak promises another 10-15% fall in the market.

Yeah, yeah, dollar cost averaging from here on out the next year.

The problem is historically if you try to time the bottom, you probably miss it, and the first appreciable move to the upside.  We have a saying on the trading floor about people who pick bottoms.  They get shit on their fingers.

[NorthSideSox72 401]

9 minutes ago, caulfield12 said:

Pretty hard to jump back into the market when a Wuhan/Italy outbreak promises another 10-15% fall in the market.

Yeah, yeah, dollar cost averaging from here on out the next year.

This isn't how markets work. If there was a "promise" or even nearly one of another 10-15% drop, then the markets would have already gone there.

 

[caulfield12 1,737]

24 minutes ago, NorthSideSox72 said:

This isn't how markets work. If there was a "promise" or even nearly one of another 10-15% drop, then the markets would have already gone there.

 

The entire COUNTRY of Italy is now on lockdown.  That wasn’t priced in at the end of the day.  Or what can go wrong in the press conference about to transpire when a certain someone releases his pent-up frustration about the falling stock market and four GOPers already on self-quarantine. 

Short of MBS and Putin calling off their game of chicken...

Edited March 9, 2020 by caulfield12

[Heads22 1,286]

For just 99.95, I can tell you what stocks to pick every week. I can't guarantee your return will be as good as mine, but you can definitely invest.

[soxfan49 1,886]

6 hours ago, caulfield12 said:

Pretty hard to jump back into the market when a Wuhan/Italy outbreak promises another 10-15% fall in the market.

Yeah, yeah, dollar cost averaging from here on out the next year.

"promises"

*rolls eyes*

[caulfield12 1,737]

46 minutes ago, soxfan49 said:

"promises"

*rolls eyes*

I’m just happy I took 25% out last year when we were at 27,000 and put it into a two year CD at 3.8%.

Of course, I also missed the peak at around 29,600.

That said, I still don’t expect a remarkable change in this touch-and-go situation in the near future.

For now, the off hours trade is up mid 500’s.  At any rate, my father had a saying, no profit is a bad profit.  But selling anything now, after holding for twenty plus years, except for tax losses to offset gains, is ill advised.

Edited March 10, 2020 by caulfield12

[caulfield12 1,737]

Down now below 23,000 in after hours/extended trading...another 600 points down.

Edited March 12, 2020 by caulfield12

[Balta1701 2,932]

47 minutes ago, caulfield12 said:

Down now below 23,000 in after hours/extended trading...another 600 points down.

Plummeted over 1000 dows now. Started right at the end of presidential address.

[caulfield12 1,737]

16 minutes ago, Balta1701 said:

Plummeted over 1000 dows now. Started right at the end of presidential address.

Market was at roughly 20,000 in January, 2017.    About 75% of gains in the last 3+ years gone, poof.

Mnuchin, S.Miller and Kushner back to the drawing board.

 

That said, financial crisis was roughly 14000 to 6600 fall.