Biggest crash in stock market history?

THATmanMANNY

Well-Known Member
Two years ago I started using robinhood because of no fee. It was great until it wasn't. I have a pretty decent position there that they cannot fix my "total return" to be accurate. It shows my market value all the time. After contacting them two times to correct they say they can't fix it.... WHAT? It's a long and I'm leaving it there but that's the only position I got. i used it to dabble in options but not for me. No doubt they target schmucks to join and do habitual day trading or emotional trades and lose their shirt. However, I give them credit for challenging the other brokers to step up their game. RB the worst. sticking with my long term scottrade now TDA.
 
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Patrick

Overthinking the draft from the basement already
Staff member
I'm actually surprised you (older) guys haven't spent more time on the SS payout determination. I'm years away so I don't look for myself, but there must be online calculators that take into account your age, average death rates, etc etc.

I always hear different things from people with regards to it, and often it's similar to Dave's comment about "My neighbor said to take it late/early otherwise you miss out, so therefore I'll take it late/early."

I would take it day 1 if there were no penalties for income above $1,500/mo (average) before full retirement age.
Something like 65y8mo for me.

Long break-even point - can delay taking money from other sources - so they continue to grow.
dying leaves $$ on the table.

mtbnj admin is such a honey pot, i should be good to retire soon.
Didn't you notice @soundz traveling the world on the yacht and private jet?
 

pkovo

Well-Known Member
Nasdaq hit new record yesterday and everything is up solidly out of the gates this morning. I guess Stonks really do only go up!
 

thegock

Well-Known Member
I would take it day 1 if there were no penalties for income above $1,500/mo (average) before full retirement age.
Something like 65y8mo for me.

Long break-even point - can delay taking money from other sources - so they continue to grow.
dying leaves $$ on the table.

mtbnj admin is such a honey pot, i should be good to retire soon.
Didn't you notice @soundz traveling the world on the yacht and private jet?

Are you sure about that full retirement age? Are you older than @SNOWFAK3?
 

Patrick

Overthinking the draft from the basement already
Staff member
Are you sure about that full retirement age? Are you older than @SNOWFAK3?

i was looking up the other person that lives in the house....plus a typo 66y8m
mine is 67 per the Tim.
 

Dave Taylor

Rex kwan Do
I started wiggling back i to FNGD and TECS. Keep adding to my GLD in my rollover IRA. The market won’t correct until the FAANGS go down.
 

pkovo

Well-Known Member
I've been long on Apple for a pretty long time. I'm tempted to dump it all, but every other time I've been tempted, they drop and then eventually end up hitting another all time high.
You could always just "trim" the position instead of getting rid of it all.
 

pkovo

Well-Known Member
I started wiggling back i to FNGD and TECS. Keep adding to my GLD in my rollover IRA. The market won’t correct until the FAANGS go down.

Looks like you wiggled into TECS and FNGD at the right time. Up over 6 and 5 percent on the day already and climbing
 

Cassinonorth

Well-Known Member
Took a flyer on AMC today. I'm sure folks will head out to movie theaters as soon as allowed.

Not so sure on that one. My girlfriend and I were avid movie goers, 5-6x a month...A-List subscribers and we won't be resuming our membership until the Fall at the very earliest. Not to mention many movies are already delayed or going straight to Netflix/Hulu.
 

Dave Taylor

Rex kwan Do
I
Looks like you wiggled into TECS and FNGD at the right time. Up over 6 and 5 percent on the day already and climbing
am only about 30% commited but it’s good. Added CEF today. I randomly bought one september $39 uvxy call at eod yesterday expecting something in the next 2 months. Not the next day!
 

kidzach

Well-Known Member
Not so sure on that one. My girlfriend and I were avid movie goers, 5-6x a month...A-List subscribers and we won't be resuming our membership until the Fall at the very earliest. Not to mention many movies are already delayed or going straight to Netflix/Hulu.
appreciate the feedback. Near the end of July I think I will know if AMC was a mistake or not. Was thinking of purchasing ROKU stock in January. That might still be the move.
 

pkovo

Well-Known Member
I keep waiting for some random piece of news to come out and reverse todays trend anyway. It's so all over the place lately I have no insight to what this market might do next.
 

Cassinonorth

Well-Known Member
appreciate the feedback. Near the end of July I think I will know if AMC was a mistake or not. Was thinking of purchasing ROKU stock in January. That might still be the move.

There's definitely people less cautious than us, so take my opinion with a grain of salt.

Reddit.com/r/amcsalist has some decent discussion on AMC and their stocks from time to time as well as a good pulse on how their core demographics are feeling. Plenty of excited people over there.
 

Fire Lord Jim

Well-Known Member
I'm actually surprised you (older) guys haven't spent more time on the SS payout determination. I'm years away so I don't look for myself, but there must be online calculators that take into account your age, average death rates, etc etc.

I always hear different things from people with regards to it, and often it's similar to Dave's comment about "My neighbor said to take it late/early otherwise you miss out, so therefore I'll take it late/early."
Up until age 62, Social Security is a tax. After you start collecting it, it is a transfer payment. But from age 62 until you claim it, it is insurance. Specifically, it is insurance against outliving your money. Postpone and it grows 8% a year. I totally get the breakeven analysis. But here's the thing. Breakeven analysis is the wrong tool for insurance. I have auto insurance. I never break even. I have a fire extinguisher. I never break even there either. All insurance fails breakeven analysis. Insurance is the small payment vs the big catastrophe. That catastrophe is being old, unemployable, and broke. The bigger question is will you still be alive when your money is gone, and getting a much bigger check each month—months when you can't particularly get employment—is the goal.

Try looking at it this way: The monthly check I have postponed collecting is treated as the insurance premium I pay to get a check at age 70 which is nearly double the age 62 check. As you breakeven guys point out, I'm not really paying it, since I will get it all back later.

Some other considerations. Social Security is taxable income for most. Not only do you give up the 8% growth each year postponed provides, but you subject the lower amount you do get to income taxation, again, for most people.

So what am I doing? I am retired, and collect dividends. With no wage income, and no Social Security income (yet) I pay zero % tax on dividends and LTCG. I'm taking that. I harvest capital gains to supplement the dividends. So far, zero tax. I have ten years before my RMDs kick in. That means I can do ten more Roth conversions—one each year— deciding how much tax I am willing to pay (last year 14%), so that my RMDs will be lower and I have a source of funds that are tax-free. I plan on claiming Social Security at age 70 unless my doctor recommends I claim sooner.
 
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