Current Affairs Stocks and shares and stuff

[SerenityNigh]

Lumber having a bit of a moment over here in the US

To my understanding, there's an issue with production facility capacity, the mills are operating at full capacity so until demand dips you'll see wood prices remain high. I don't know how long it takes to open a new facility, but I would guess months at least.

 

[SerenityNigh]

Anyone else thinking that all this nay saying of Bitcoin by some HUGE names is all a ploy to crash it, so that they can buy several billion dollars worth then sell for ENORMOUS profits when it rises again?

MSN

www.msn.com

No

 

[treer]

People been saying bitcoin is useless since it emerged, many big names who decried it before now sing it praises.
On the the bitcoin thread here there was someone(think it was ChesterBlue), told everyone it was a ponzi and they would lose their money, and this was when it was less than 10000. A mod closed that thread saying it was because "he didn't understand it".
Suppose like any investment, you pays your money, and take's your chance.

 

[roydo]

People been saying bitcoin is useless since it emerged, many big names who decried it before now sing it praises.
On the the bitcoin thread here there was someone(think it was ChesterBlue), told everyone it was a ponzi and they would lose their money, and this was when it was less than 10000. A mod closed that thread saying it was because "he didn't understand it".
Suppose like any investment, you pays your money, and take's your chance.

Not quite.

I closed it cos plenty of people dont understand it.

 

[toffee82]

Yes, but for other practical reasons; regular paycheck deductions, including pre-tax deductions. I have no idea what plans are like elsewhere, but in the US a common plan is pre-tax deduction + company matching. So for instance, if your salary is $50,000 and you deduct 5% with a 3% match, then what you pay is:

$1,950
$50,000 gross salary x 5% = $2,500 salary deduction
$2,500 x 22% tax rate = $1,950 "take home pay"

What you get is: $4,000

Your 5% = $2,500
The matched 3% = $1,500
*your cost* = $1,950

And this is usually deducted per pay period. So you're effectively dollar cost averaging before you begin thinking about dollar cost averaging. But then you probably *should* buy simple indices, the lowest cost offerings available (Vanguard are the best, but many plans sell their own index funds).

So your rate of return is 105% *before* you see any market gains. This adds up *a lot*, especially over a long time. And only costs you $162/month (YMMV, as your salary may be more or less than these values).

Is this what the 401k is?
Do you pay tax when you start drawing on it.

It sounds like our work place pension where employees are employers match the contribution to a set percentage. You can make additional voluntary contributions which reduces your tax but you may pay tax when you withdraw (we have an annual tax free allowance). With basic rate tax at 20% AVCs can be a good idea (plus employers contribution) as you might have the equivalent of 25% returns before the markets.

ISAs are tax free savings accounts. A variety of ways to use these from fixed interest cash ISAs (pitiful rates) to index funds. Limited to £20k going in each year. If you exceed that you can still invest in index funds but pay tax on your gains (although the first £1000 interest is tax free). Work does not contribute.

 

[SerenityNigh]

Is this what the 401k is?
Do you pay tax when you start drawing on it.

It sounds like our work place pension where employees are employers match the contribution to a set percentage. You can make additional voluntary contributions which reduces your tax but you may pay tax when you withdraw (we have an annual tax free allowance). With basic rate tax at 20% AVCs can be a good idea (plus employers contribution) as you might have the equivalent of 25% returns before the markets.

ISAs are tax free savings accounts. A variety of ways to use these from fixed interest cash ISAs (pitiful rates) to index funds. Limited to £20k going in each year. If you exceed that you can still invest in index funds but pay tax on your gains (although the first £1000 interest is tax free). Work does not contribute.

There are various pre-tax retirement accounts, I think IRAs and 401s, 403s, can all be arranged this way. Sounds similar to ISA. I was really answering two questions above, and they got merged, but most of these funds operate in a way that forces dollar cost averaging--that's how the topics got merged in my head.

 

[SerenityNigh]

People been saying bitcoin is useless since it emerged, many big names who decried it before now sing it praises.
On the the bitcoin thread here there was someone(think it was ChesterBlue), told everyone it was a ponzi and they would lose their money, and this was when it was less than 10000. A mod closed that thread saying it was because "he didn't understand it".
Suppose like any investment, you pays your money, and take's your chance.

I have plenty of questions but generally the responses are: you just don't understand; enjoy being poor. Whether true or not, when I see responses like this it confirms by biases.

 

[CharliePotato]

Not quite.

I closed it cos plenty of people dont understand it.

Seems like a strange reason to close a thread.

 

[nikom court]

Seems like a strange reason to close a thread.

i think he was worried about some members being scammed,
i think its a problem in society in general were people cant do there own research and make their own decisions,
they need the govt,the media or someone else to hold their hand and run their lives for them!

 

[CharliePotato]

i think he was worried about some members being scammed,
i think its a problem in society in general were people cant do there own research and make their own decisions,
they need the govt,the media or someone else to hold their hand and run their lives for them!

Why just close down that thread, why not this one then if that’s the case.

Seems like a personal thing to me.

 

[roydo]

Why just close down that thread, why not this one then if that’s the case.

Seems like a personal thing to me.

It wasnt a personal thing at all. This thread is about stocks and shares and stuff.

 

[LinekersLegs]

 

[LinekersLegs]

Tendies on tendies

 

[Paris]

Ethereum at $3,000

What a beautiful sight.

 

[SerenityNigh]

I'm not clever enough to figure this out, but seems like there is some balance to strike between cash in and cash out, and keeping your cash stores ready for the next huge dip could be a good strategy, if you are lucky. But then it's always better to be lucky than good, it seems.