UJRefugees.net

B-Tender wrote: ↑Mon Apr 06, 2020 8:42 pm Nice day in the Market today. Zoom was my only holding that didn't do well.

do you need any more evidence at all that the virus has peaked and the lockdown is soon going to be over?

Flumper wrote: ↑Mon Apr 06, 2020 8:55 pm

B-Tender wrote: ↑Mon Apr 06, 2020 8:42 pm Nice day in the Market today. Zoom was my only holding that didn't do well.

do you need any more evidence at all that the virus has peaked and the lockdown is soon going to be over?

I'm optomistic that is the case.

Zoom has been hit by privacy and security concerns.

Flumper wrote: ↑Mon Apr 06, 2020 8:55 pm

B-Tender wrote: ↑Mon Apr 06, 2020 8:42 pm Nice day in the Market today. Zoom was my only holding that didn't do well.

do you need any more evidence at all that the virus has peaked and the lockdown is soon going to be over?

I don't know, maybe it had something to do with Zoom getting hacked?

Reservoir Dog wrote: ↑Mon Apr 06, 2020 8:58 pm

Flumper wrote: ↑Mon Apr 06, 2020 8:55 pm

B-Tender wrote: ↑Mon Apr 06, 2020 8:42 pm Nice day in the Market today. Zoom was my only holding that didn't do well.

do you need any more evidence at all that the virus has peaked and the lockdown is soon going to be over?

I don't know, maybe it had something to do with Zoom getting hacked?

shit, i have no idea. i don't even know what it is other than i have heard the girls saying that is their "get together" method now that they can't go out for drinks.

Flumper wrote: ↑Mon Apr 06, 2020 8:54 pm

FreakShowFanatic wrote: ↑Thu Apr 02, 2020 10:48 pm Does anyone here have any opinion about Annuities?

i am not an expert on annuities and I have never had money in one. (which is primarily my go-to pre-requisite for someone to have a valuable opinion).

I had a good friend that advised me years ago to stay the fuck away from annuities. If I remember his advice right, he said that you are basically loaning your money to an insurance company. And then they pay you back a little at a time over the years. If you die you get fucked (literally. he said if you die they keep what's left and they are betting you will die before they have to pay you back). and if you want to take your money out early you get really fucked.

i think the way the commissions are rigged its a very good sell for a money manager.

Good to know. Sadly, this is what my financial advisors are recommending to me these days. The other big whammy is what if said insurance company goes under and out of business? Guess what you're completely fucked.

Damn, I need to find an independent financial advisor that doesn't have a conflict of interest trying to steer me in directions where they make the most money & not me. I'm gonna go do my research and find someone like that.

I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

FreakShowFanatic wrote: ↑Mon Apr 06, 2020 9:52 pm I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

yeah, now that you mention it, i think it was also described as being a way for a complete moron to go to a financial advisor and say "look i have 15 million dollars and I want to have income coming into me after I retire of $15,000 a month". and then the financial advisor licks his chops and says "I have just what you need".

Annuity sellers? Go look at the skyscrapers with insurance company names on them. They sell annuities.

Antknot wrote: ↑Mon Apr 06, 2020 10:36 pm Annuity sellers? Go look at the skyscrapers with insurance company names on them. They sell annuities.

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

FreakShowFanatic wrote: ↑Mon Apr 06, 2020 9:52 pm I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

Dude, I honestly do like you & I think you're a plus on this board. However, could you, just for a moment stop being prejudice and racist about my wife when I already explained to you that she's completely awesome?

I srsly think you were raped up the ass by someone from El Salvador from MS 13 but that's not what my wife is about, OK? Nobody in her family is in MS 13 and they don't condone it and they have nothing to do with it. They're honest, hard working people that are a plus in this world, probably even more than you is.

Figure it out bro. I don't know how many times I need to explain simple things like this to you. Grow up & be a man for a change.

Help him out for a change QD, instead of just being silent when he makes ignorant remarks like this. TIA

Just curious, how many here are still only in cash? How long do you think you'll stay out of the market? What will bring you back in?

B-Tender wrote: ↑Tue Apr 14, 2020 5:14 pm Just curious, how many here are still only in cash? How long do you think you'll stay out of the market? What will bring you back in?

i got back in when my models showed everything suddenly turning around (april 3rd). But, I didn't start trying to cherry pick stocks. I took the easy route and just bought index funds. its been a fun ride since then, up and down, up and down. i try to never look back and second guess the decisions.

Flumper wrote: ↑Tue Apr 14, 2020 6:33 pm

B-Tender wrote: ↑Tue Apr 14, 2020 5:14 pm Just curious, how many here are still only in cash? How long do you think you'll stay out of the market? What will bring you back in?

i got back in when my models showed everything suddenly turning around (april 3rd). But, I didn't start trying to cherry pick stocks. I took the easy route and just bought index funds. its been a fun ride since then, up and down, up and down. i try to never look back and second guess the decisions.

Are you concerned about another dip when the earning reports come out?

Antknot wrote: ↑Mon Apr 06, 2020 10:36 pm Annuity sellers? Go look at the skyscrapers with insurance company names on them. They sell annuities.

Annuities are the highest commissioned product an investment person can legally sell except some private issues which most firms prohibit. If they cut the commission in 1/2, annuity sales would be virtually non-existent.

My retirement accounts are barely down at this point. The Nasdaq is down <4% for the year.

Biker wrote: ↑Mon Apr 06, 2020 10:35 pm

Flumper wrote: ↑Mon Apr 06, 2020 9:58 pm

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

FreakShowFanatic wrote: ↑Mon Apr 06, 2020 9:52 pm I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

yeah, now that you mention it, i think it was also described as being a way for a complete moron to go to a financial advisor and say "look i have 15 million dollars and I want to have income coming into me after I retire of $15,000 a month". and then the financial advisor licks his chops and says "I have just what you need".

Yeah, pretty much. I think Beagleboy sells them as one of his product offerings

I've never sold an annuity in my life. I was licensed for it at one point. Fixed annuities had a place in this world, for most people a variable annuity doesn't.

B-Tender wrote: ↑Tue Apr 14, 2020 7:02 pm

Flumper wrote: ↑Tue Apr 14, 2020 6:33 pm

B-Tender wrote: ↑Tue Apr 14, 2020 5:14 pm Just curious, how many here are still only in cash? How long do you think you'll stay out of the market? What will bring you back in?

i got back in when my models showed everything suddenly turning around (april 3rd). But, I didn't start trying to cherry pick stocks. I took the easy route and just bought index funds. its been a fun ride since then, up and down, up and down. i try to never look back and second guess the decisions.

Are you concerned about another dip when the earning reports come out?

absolutely. But, fundamentally I think its the right thing to do at the time. Its legalized gambling.

beagleboy wrote: ↑Tue Apr 14, 2020 7:26 pm

Antknot wrote: ↑Mon Apr 06, 2020 10:36 pm Annuity sellers? Go look at the skyscrapers with insurance company names on them. They sell annuities.

Annuities are the highest commissioned product an investment person can legally sell except some private issues which most firms prohibit. If they cut the commission in 1/2, annuity sales would be virtually non-existent.

My retirement accounts are barely down at this point. The Nasdaq is down <4% for the year.

I'm back in the positive for the year right now. It will be interesting the next few months.

B-Tender wrote: ↑Tue Apr 14, 2020 8:22 pm

beagleboy wrote: ↑Tue Apr 14, 2020 7:26 pm

Antknot wrote: ↑Mon Apr 06, 2020 10:36 pm Annuity sellers? Go look at the skyscrapers with insurance company names on them. They sell annuities.

Annuities are the highest commissioned product an investment person can legally sell except some private issues which most firms prohibit. If they cut the commission in 1/2, annuity sales would be virtually non-existent.

My retirement accounts are barely down at this point. The Nasdaq is down <4% for the year.

I'm back in the positive for the year right now. It will be interesting the next few months.

Honestly I'm thoroughly amazed how well the market is doing. I really have no idea why since we're getting so wiped out in the US by this virus.

beagleboy wrote: ↑Tue Apr 14, 2020 7:27 pm

Biker wrote: ↑Mon Apr 06, 2020 10:35 pm

Flumper wrote: ↑Mon Apr 06, 2020 9:58 pm

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

FreakShowFanatic wrote: ↑Mon Apr 06, 2020 9:52 pm I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

yeah, now that you mention it, i think it was also described as being a way for a complete moron to go to a financial advisor and say "look i have 15 million dollars and I want to have income coming into me after I retire of $15,000 a month". and then the financial advisor licks his chops and says "I have just what you need".

Yeah, pretty much. I think Beagleboy sells them as one of his product offerings

I've never sold an annuity in my life. I was licensed for it at one point. Fixed annuities had a place in this world, for most people a variable annuity doesn't.

Thanks for the info guys. I never really touched my 401k's for over twenty years and I've been fortunate that they've done well, but from 2 financial advisors that work for the companies that have my 401k's that is what they recommended to do. They keep recommending that I take my money out of the 401k, and even switch to making them IRA's for some reason.

I told them I'd look into it but I've received nothing but an overwhelmingly negative opinion on annuities so I guess I'm not going that route.

What I really need to find now(I think) is an independent financial advisor that can objectively look at all of my investments and assets to determine my best investment strategy since I'm not too far from retirement (I'm 57, my wife is 51). Rather than having these people push for me to invest my money in the way where they get the highest commission I'd rather they try to get me the best results.

I'm thinking that might work by paying someone a fixed fee that doesn't work on commission, but I'm not sure there's even people out there like that.

Thanks again.

FreakShowFanatic wrote: ↑Tue Apr 14, 2020 9:24 pm

beagleboy wrote: ↑Tue Apr 14, 2020 7:27 pm

Biker wrote: ↑Mon Apr 06, 2020 10:35 pm

Flumper wrote: ↑Mon Apr 06, 2020 9:58 pm

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

FreakShowFanatic wrote: ↑Mon Apr 06, 2020 9:52 pm I'm surprised Biker has nothing to say about this. I thought he was the financial guru on this board & would know all about Annuities, and their alternatives. Go figure.

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

yeah, now that you mention it, i think it was also described as being a way for a complete moron to go to a financial advisor and say "look i have 15 million dollars and I want to have income coming into me after I retire of $15,000 a month". and then the financial advisor licks his chops and says "I have just what you need".

Yeah, pretty much. I think Beagleboy sells them as one of his product offerings

I've never sold an annuity in my life. I was licensed for it at one point. Fixed annuities had a place in this world, for most people a variable annuity doesn't.

Thanks for the info guys. I never really touched my 401k's for over twenty years and I've been fortunate that they've done well, but from 2 financial advisors that work for the companies that have my 401k's that is what they recommended to do. They keep recommending that I take my money out of the 401k, and even switch to making them IRA's for some reason.

I told them I'd look into it but I've received nothing but an overwhelmingly negative opinion on annuities so I guess I'm not going that route.

What I really need to find now(I think) is an independent financial advisor that can objectively look at all of my investments and assets to determine my best investment strategy since I'm not too far from retirement (I'm 57, my wife is 51). Rather than having these people push for me to invest my money in the way where they get the highest commission I'd rather they try to get me the best results.

I'm thinking that might work by paying someone a fixed fee that doesn't work on commission, but I'm not sure there's even people out there like that.

Thanks again.

You told us you pulled all your money out 6 weeks ago.

Reservoir Dog wrote: ↑Tue Apr 14, 2020 9:27 pm

FreakShowFanatic wrote: ↑Tue Apr 14, 2020 9:24 pm

beagleboy wrote: ↑Tue Apr 14, 2020 7:27 pm

Biker wrote: ↑Mon Apr 06, 2020 10:35 pm

Flumper wrote: ↑Mon Apr 06, 2020 9:58 pm

Biker wrote: ↑Mon Apr 06, 2020 9:55 pm

Annuities are for people with little to no finance skills to secure an income in retirement. Your mestizo family would be perfect candidates

yeah, now that you mention it, i think it was also described as being a way for a complete moron to go to a financial advisor and say "look i have 15 million dollars and I want to have income coming into me after I retire of $15,000 a month". and then the financial advisor licks his chops and says "I have just what you need".

Yeah, pretty much. I think Beagleboy sells them as one of his product offerings

I've never sold an annuity in my life. I was licensed for it at one point. Fixed annuities had a place in this world, for most people a variable annuity doesn't.

Thanks for the info guys. I never really touched my 401k's for over twenty years and I've been fortunate that they've done well, but from 2 financial advisors that work for the companies that have my 401k's that is what they recommended to do. They keep recommending that I take my money out of the 401k, and even switch to making them IRA's for some reason.

I told them I'd look into it but I've received nothing but an overwhelmingly negative opinion on annuities so I guess I'm not going that route.

What I really need to find now(I think) is an independent financial advisor that can objectively look at all of my investments and assets to determine my best investment strategy since I'm not too far from retirement (I'm 57, my wife is 51). Rather than having these people push for me to invest my money in the way where they get the highest commission I'd rather they try to get me the best results.

I'm thinking that might work by paying someone a fixed fee that doesn't work on commission, but I'm not sure there's even people out there like that.

Thanks again.

You told us you pulled all your money out 6 weeks ago.

That's incorrect sir. What I explained was I switched my 401k investment options. I took my investments 100% out of the stock market and switched to a guaranteed money market. It's still in a 401k though and I can switch it back to the stock market or a number of other investment blends and options. Like I've said, I'm not an expert so that's why I'm trying to find someone I can hire to manage my investments for a fee that is not biased and looks out for my best interests.

FreakShowFanatic wrote: ↑Tue Apr 14, 2020 9:24 pmThey keep recommending that I take my money out of the 401k, and even switch to making them IRA's for some reason.

i would recommend that you take all of your 401(k) money and roll it into your IRA money. And then i would gather up every single IRA account that you might have and get all of that money into one single IRA account. You can still have it diversely invested with some in stocks, some in bonds, money market, whatever. But its in one account and one place.

The reason is because at some point you are going to have to issue a plan to the IRS on how you plan to remove the money (so they know how they can expect to collect the tax on it). Having it all in one place greatly simplies all of that.

Flumper wrote: ↑Tue Apr 14, 2020 9:37 pm

FreakShowFanatic wrote: ↑Tue Apr 14, 2020 9:24 pmThey keep recommending that I take my money out of the 401k, and even switch to making them IRA's for some reason.

i would recommend that you take all of your 401(k) money and roll it into your IRA money. And then i would gather up every single IRA account that you might have and get all of that money into one single IRA account. You can still have it diversely invested with some in stocks, some in bonds, money market, whatever. But its in one account and one place.

The reason is because at some point you are going to have to issue a plan to the IRS on how you plan to remove the money (so they know how they can expect to collect the tax on it). Having it all in one place greatly simplies all of that.

Agree with this. There is also likely more investment options available to you in an IRA as oposed to a 401k plan. Also 401k plans tend to have higher fees. Check out Vanguard.

Also agree with going with a fee only advisor.