Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

This has the requirement that your plan administrator signs off on it. The benefit is being able to access it now, with the 10% early withdrawal fee waived. You still pay taxes on it this way. I’m not familiar with the 72T program.

 

• The payments must continue for at least five (5) years or until you are age 59½, whichever period is longer.
• You must take the payments at least annually.
• The payments must be substantially equal and generally may not be changed or stopped during the payment term, unless you become disabled or die.
• You may not roll over or convert your 72(t) payments.
• The 72(t) payment plan is only applicable to the IRA from which you calculated your initial payment. Before setting up a 72(t) payment plan, you can split your IRA into two IRAs, if desired. You can use one IRA to calculate and take your 72(t) Series of Equal Periodic Payments, while the other can remain available for future non-72(t) use.
• You can switch to the RMD method from either the amortization or the annuity factor method. This is a one-time irrevocable switch and you must use the RMD method for the remainder of the schedule. Any modifications beyond this, would retroactively trigger the 10% penalty back to the beginning of your 72(t) plan. This can be very costly.
• The IRS has approved 3 methods for calculating 72(t) payments. Those methods are the required minimum distribution (RMD) method, the amortization method, and the annuity factor method. While other methods of calculating the payments are not prohibited, it would be extremely risky to use some other method that is not officially “blessed” by the IRS.
• An extra withdrawal is considered a modification of the payment schedule. Any change in the account balance other than by regular gains and losses or 72(t) distributions, will be also considered a modification and the 10% penalty will be triggered. This means that you cannot add funds to your IRA either through rollovers or contributions.

Just another way to gain access to retirement funds, but with some hoops to jump thru. Me retiring at 52, I need to use this program.

 

Well the argument against that action is usually the 10% fine...and the repayment rules...all of which are waived...So it's basically an interest free loan from yourself that you have 3 years to pay back...

 

WOW...anyone holding AMD calls?
The $70 31JUL20 calls were $170 today and they'll open around $600 tomorrow.

 

I was out getting a hair cut (First time since December) and things really went to shit from 3 to close...

 

Story of the day: Kodak getting a government loan worth 2x market cap to make drugs. https://www.npr.org/sections/corona...le-a-kodak-moment-with-new-loan-to-make-drugs

 

Not paying it back, I withdrew it.

 

You don’t have to right? Only gotta pay the taxes, no other fees?

 

You can take it as a loan and repay it, but I think you can do that anytime. Under the CARES Act you can take it as a distribution, and fees are waived, but you do pay taxes.

 

Interesting article on AGEagle Aerial Systems ($UAVS).

My feelings are that the author nailed it (expensive short term, cheap long term). I got in on them doing a bit of research during what turned out to be a pump and dump frusty. I am planning on getting out at $4/share, but part of me wants to see how high they will go in the next year or two. As a former ISR and drone guy (and current remote sensing guy), I believe they have a solid future ahead of them... but I am not sure if their stock price will agree. I do think their stock will shoot up if/when they can get the drone delivery thing up and running, but I don't really have confidence in drone delivery becoming a thing. It would be nice if they disclosed who their secret customer was and how much they are being paid to come up with a drone delivery system. But this leads to some of the negatives about the company. I believe, in the penny stock arena, they don't have a good reputation and are seen as a shady stock.

While their stocks have consistently been in the $3 since they got a new CEO, this looks to be in jeopardy this week or next with how the market has been in general.

Do any of you have any thoughts on them or any info that I may not have seen? Like I said, I am long $UAVS (it's only been 3 months), getting out at $4. I hear lots of positive things about the future and wonder if I should cancel my limit sell and do something manually or what. I'll be happy walking away with a profit at $4, especially knowing how this started. But seeing how high the stock has gone in the past, I wonder if it has the potential to be a big winner in the future.

 

Shit. I recently just filed to transfer my Metlife annuity to Fidelity. I should have looked into this because I think I am going to get hit with the 10% fee...

 

Looks like a profit decision is what you’ll have to make. If it gets to 4 that is. If it’s a good steady climb it’s easier to hold on a little

 

Yeah, "IF" is the key word. I am confident there will be another pump and dump within the next year and I will get out that way if it doesn't climb legitimately. It was all throw-away money anyways. I just don't like taking losses if I don't have to, which is why I will hold as long as I can...unless it goes the way of HTZ...

 

My favorite thing to do is read the article, envision what I think the company looks like...and then go to their investor relations and look up the address of the actual business...and think "Would I use the bathroom there...."
https://www.google.com/maps/@37.416...4!1sqIBFq0tb_nPHnqQFlgXF_Q!2e0!7i13312!8i6656

 

That is solid advice right there!

 

There was on someone was pumping about a month ago...not here...it was some air filter covid thing...and I looked up the company and the address of the business was 3 bedroom home in the shitty part of Worcester Ma....I was like what??? How is this going to do "Millions of filters for covid"
It was trading at $0.02 and now it's at $0.06 so yeah I guess I missed out but there was no way I was accepting that a 3 bedroom home in Worcester had 20M market cap...it's now at 68M with over a BILLION Shares...
https://finance.yahoo.com/quote/VYST/

 

And then you remember, many of the great big tech companies were started in a garage or something. So who really knows. But I’m ok getting into Microsoft or AMZN just after they at least have a separate corporate headquarters

 

Interesting. If I start a company, I am going to name it similar, so when I go public, I can have my ticker symbol look like a Vanguard ETF and get some sucker investors that way. It only has to work once!

 

BTW, I just wanted to thank you all that are posting up in this thread and helping me learn. I hope I don't come across as trying to pump certain stocks that are losers or high risk. I am really just trying to get input to see what others see in the investments I have made against my strategy. Since I am not a trader (although I would like to get to a place where I can trade a little here and there), I am ok with holding a "mistake" for years and ride it into a profit or (more likely) into the dirt.

The ones that trade definitely make this thread exciting and I wish you all the best of luck! One day I will play with you.

 

leave now while you still have a chance.



Do the opposite of whatever we do, especially me, and you’ll be rocking it.