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Re: who is bailing on stocks? [Re: pittsburghracer] #2751271
03/12/20 01:55 PM
03/12/20 01:55 PM
Joined: Feb 2015
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crackedback Offline
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Originally Posted by pittsburghracer
The only part that scares me and I guess it shouldn't is I'm holding and can wait it out. I have a pension and Social Security to get by on. But at 64 if I should pass away I really don't know the rules re-guarding when my kids would have to cash out my account. I have no Wife to worry about and my Sons are now 28 and 31 so between the house, shop, cars, tools, and truck they both will get something from my estate but I would hate to see them have to "cash out" in bad times.


Inherited IRA's used to be able to go on a minimum distribution based on the person inherited age, same as the orig owners... No longer... The Secure act changed everything.

The SECURE Act dictates that, for accounts inherited after Dec. 31, 2019, non-spouse beneficiaries typically must cash out the account within 10 years of the original owner's death. Some heirs are exempted: those whose age is within a decade of the deceased's; disabled or chronically ill individuals; or minor children. However, these minors must be direct descendants (no grandchildren, in other words) and, once they reach majority age, the 10-year rule kicks in for them too. There's no particular timetable for the withdrawals; they can be taken annually or all at once.

So they would have to liquidate the IRA within 10 years.

It's one way to pay for those tax cuts by removing money from tax exempt accounts which are inherited.

Last edited by crackedback; 03/12/20 01:57 PM.
Re: who is bailing on stocks? [Re: rrbrucea] #2751291
03/12/20 02:38 PM
03/12/20 02:38 PM
Joined: Jan 2004
Posts: 10,966
Nort Cackalacky
rrbrucea Offline
Member known as the "Artist"
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Nort Cackalacky
Just checked mine again today... now down slightly over 14%. But that wasn't my only surprise. I also learned that my employer made a contribution to my account yesterday that more than covered my losses.

Of course, given the way things are going I'll lose some of that too before things fully recover... But I'm not complaining.

Re: who is bailing on stocks? [Re: rrbrucea] #2751307
03/12/20 03:18 PM
03/12/20 03:18 PM
Joined: Jun 2005
Posts: 5,097
Western Md.
skicker Offline
"The Champ"
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Western Md.
Boeing down at $160. and change is tempting...work

Just not tempting enough... shake_head


...FAFO...
Re: who is bailing on stocks? [Re: skicker] #2751313
03/12/20 03:33 PM
03/12/20 03:33 PM
Joined: Jan 2003
Posts: 3,675
South San Francisco, Ca
70sixpkrt Offline
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I need to buy stock in adult toys. People are staying home and have to keep themselves busy/entertained somehow.


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Re: who is bailing on stocks? [Re: 70sixpkrt] #2751347
03/12/20 05:28 PM
03/12/20 05:28 PM
Joined: Feb 2005
Posts: 20,116
PA.
pittsburghracer Offline
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One good thing about the stock market drop. If you run out of toilet paper you have something to use. lol 😂


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Re: who is bailing on stocks? [Re: pittsburghracer] #2751385
03/12/20 08:12 PM
03/12/20 08:12 PM
Joined: May 2018
Posts: 92
Minnesota
TrackPack Offline
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Minnesota
I wish I had invested in toilet paper.

Re: who is bailing on stocks? [Re: TrackPack] #2751402
03/12/20 09:07 PM
03/12/20 09:07 PM
Joined: Dec 2007
Posts: 19,774
Puttin' on the foil in Charles...
not_a_charger Offline
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Posts: 19,774
Puttin' on the foil in Charles...
Our stock (PGR) is down quite a bit, but that's temporary. We were making money hand over fist before the market crashed. We are a product that is mandated by law, and guess what? There are fewer people commuting right now, fewer people traveling, fewer people driving to games, recreational activities, school, etc...fewer cars on the road = reduced loss frequency = more profits. Our stock was flying along before this, and it's going to take right back off again as soon as this sort itself out, and maybe earlier than that.


Earning every penny of that moderator paycheck.

DBAP
Re: who is bailing on stocks? [Re: not_a_charger] #2751411
03/12/20 09:25 PM
03/12/20 09:25 PM
Joined: Jun 2004
Posts: 9,404
Texas
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carcrazyguy Offline
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I have been considering buying some PGR stock myself. Less driving means fewer claims. Fewer claims equals more profit.

I am certainly no expert but I think this is a 2-6 month “panic”. Then the fear will subside some and we slowly get back to a “normal” market. I don’t think it will snap back as quick as it dropped.

Re: who is bailing on stocks? [Re: carcrazyguy] #2751413
03/12/20 09:45 PM
03/12/20 09:45 PM
Joined: Nov 2004
Posts: 25,050
Texas
GoodysGotaCuda Offline
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Buying puts and selling call credit spreads has kept me busy.


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Re: who is bailing on stocks? [Re: skicker] #2751505
03/13/20 11:30 AM
03/13/20 11:30 AM
Joined: Feb 2014
Posts: 1,695
central il.
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second 70 Offline
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central il.
Originally Posted by skicker
Boeing down at $160. and change is tempting...work

Just not tempting enough... shake_head


$150 yesterday worked for me. $170 now question is when to sell lol. JPM @ 87 now 95 missed DIS bid too cheap. Wouldn't be surprised if they didn't give it all back this afternoon. S&P did break 2500 yesterday closed at 2480. If it doesn't hold around 2140 is the next support which is another 14.5% lower. Lets see if it holds and then might be time to reload! But not on a Friday especially the 13th. lol

Re: who is bailing on stocks? [Re: second 70] #2751640
03/13/20 06:53 PM
03/13/20 06:53 PM
Joined: Dec 2007
Posts: 2,680
Des Moines IA
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Soopernaut Offline
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I opened an account today with TD Ameritrade and wrote the biggest check of my life. We shall see what happens.


1970 Dodge d100/eventually going on a 77 D100 frame
Re: who is bailing on stocks? [Re: Soopernaut] #2751659
03/13/20 07:57 PM
03/13/20 07:57 PM
Joined: Jan 2003
Posts: 7,471
Minnesota
Hemi_Joel Offline OP
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Originally Posted by Soopernaut
I opened an account today with TD Ameritrade and wrote the biggest check of my life. We shall see what happens.

Be careful. This is not Las Vegas! make sure you understand defensive strategies. Stop loss orders, puts, spreads, etc


[img]http://i.imgur.com/boeexFms.jpg[/img]
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Re: who is bailing on stocks? [Re: Soopernaut] #2751708
03/13/20 10:30 PM
03/13/20 10:30 PM
Joined: Nov 2004
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Texas
GoodysGotaCuda Offline
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Originally Posted by Soopernaut
I opened an account today with TD Ameritrade and wrote the biggest check of my life. We shall see what happens.


Good luck, it took a few months for the market to find bottom in 2008. It's only been two weeks..


1972 Barracuda - 5.7L Hemi, T56 Magnum 6spd - https://www.facebook.com/GoodysGotaHemi
2020 RAM 1500
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Re: who is bailing on stocks? [Re: GoodysGotaCuda] #2751760
03/14/20 06:40 AM
03/14/20 06:40 AM
Joined: Sep 2003
Posts: 1,110
sw michigan
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TB3CUDA Offline
super stock
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sw michigan
moved mine to the money market,low risk til this passes,i did invest in 3 72-73 barracudas pretty safe investment

Re: who is bailing on stocks? [Re: TB3CUDA] #2751832
03/14/20 12:25 PM
03/14/20 12:25 PM
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central il.
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second 70 Offline
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Should be going back down next week there was a ton of short covering the last 30 minutes. Also remember it was still down 9% for the week and 20% overall. There will be selling pressure for people who didn't get out but want out now.

Dang Joel I hope you had a limit on MORL down 50% in a couple days now a 53% dividend.

Re: who is bailing on stocks? [Re: second 70] #2751882
03/14/20 03:10 PM
03/14/20 03:10 PM
Joined: Jan 2003
Posts: 7,471
Minnesota
Hemi_Joel Offline OP
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Thankfully, I had a stop loss sell order set at 10.00. It hit on Wednesday, by the time it was executed it sold for about $9.90 a share. So I lost about 20% of what I put in. but I'm really happy that I stopped out when I did! I was expecting some kind of a bounce or upward move in all this volatility that I could play but it never happened. With a massive drop on Thursday, I wish I would have been short. So much for the veracity of my crystal ball.
Regardless, I think it's important to pay heed to the old axiom "cut your losses short, let your profits run."


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31 Plymouth Coupe, 392 Hemi, T56 magnum
RS23J71
RS27J77
RP23J71
RO23J71
WM21J8A
I don't regret the things I've done. I only regret the things I didn't do.
"Wise men talk because they have something to say; fools because they have to say something. ~ Plato"
Re: who is bailing on stocks? [Re: Hemi_Joel] #2751929
03/14/20 05:14 PM
03/14/20 05:14 PM
Joined: Dec 2007
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Des Moines IA
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Soopernaut Offline
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Des Moines IA
Originally Posted by Hemi_Joel
Originally Posted by Soopernaut
I opened an account today with TD Ameritrade and wrote the biggest check of my life. We shall see what happens.

Be careful. This is not Las Vegas! make sure you understand defensive strategies. Stop loss orders, puts, spreads, etc


I opened a cash account and plan to keep it pretty simple for now, no futures, options or selling short. I may not even use stop losses. If the prices keep falling I'll keep buying. I have 20+ years till retirement age so I have time to ride it out. As long as prices go back up eventually I'll come out ahead and I'm pretty sure once fears of Covid-19 go away things will level off. There is no guarantee stock prices will ever be as high as they were recently, but I'm willing to take some risk.

Originally Posted by GoodysGotaCuda
Originally Posted by Soopernaut
I opened an account today with TD Ameritrade and wrote the biggest check of my life. We shall see what happens.


Good luck, it took a few months for the market to find bottom in 2008. It's only been two weeks..


Thanks. I think it is hard for anyone to tell the bottom, even the experienced. They say to never time the market. As long as I'm not buying at the top I think I can eventually come out ahead.


1970 Dodge d100/eventually going on a 77 D100 frame
Re: who is bailing on stocks? [Re: Soopernaut] #2751945
03/14/20 05:55 PM
03/14/20 05:55 PM
Joined: Feb 2014
Posts: 1,695
central il.
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second 70 Offline
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I just checked my account and the stocks I picked moved up19% Friday but the mutual & etfs were only up 5%. Good companies are on sale but others aren't down very much and have more room to fall. Be careful and move slowly. I wouldn't put any money in a index fund unless it gets under 2700. My guess is around 2750 will be about as high as it can hold for a while anything over will probably be sold.


Joel that's great news that you're out there's a really good chance that fund is going to fail. The entire thing is debt. Which is fine in a up market but I wouldn't touch it now.

Re: who is bailing on stocks? [Re: GoodysGotaCuda] #2752428
03/16/20 07:10 AM
03/16/20 07:10 AM
Joined: Nov 2004
Posts: 25,050
Texas
GoodysGotaCuda Offline
5.7L Hemi, 6spd
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Texas
Boy is it going to be a bloodbath today, holy smokes. Futures limited down in about 10 minutes yesterday, lots of tickers are in a free-fall.


1972 Barracuda - 5.7L Hemi, T56 Magnum 6spd - https://www.facebook.com/GoodysGotaHemi
2020 RAM 1500
[img]https://i.imgur.com/v9yezP9.jpg[/img]
Re: who is bailing on stocks? [Re: GoodysGotaCuda] #2752433
03/16/20 07:38 AM
03/16/20 07:38 AM
Joined: Aug 2007
Posts: 2,754
Conway, SC
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Looks like I will be stocking up on some Silver and Gold pretty soon.

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