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beachbumbabs
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beachbumbabs
Joined: May 21, 2013
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January 6th, 2017 at 12:46:24 PM permalink
Fwiw, I talked to my FA yesterday, and I made 18% on my IRA money last year. Thanks, President Obama!

Was a lump sum rollover. I just left it alone.

I don't know how that compares to other 2016 returns, but I'm very satisfied.
"If the house lost every hand, they wouldn't deal the game."
WatchMeWin
WatchMeWin
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January 6th, 2017 at 1:10:20 PM permalink
Quote: beachbumbabs

Fwiw, I talked to my FA yesterday, and I made 18% on my IRA money last year. Thanks, President Obama!

Was a lump sum rollover. I just left it alone.

I don't know how that compares to other 2016 returns, but I'm very satisfied.



18% annual return is very good... and its tax free in your IRA! Most professional hedge funds dont even have that type of return.. they are happy if they can return 5-10% and think that is good. Your FA is doing a good job for you.
'Winners hit n run... Losers stick around'
WatchMeWin
WatchMeWin
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January 6th, 2017 at 1:12:08 PM permalink
As for the dow hitting 20,000.... Well it didnt close over it today... soooo frickin close! I feel that it will get there next week with earnings and financial sector leading the way!
'Winners hit n run... Losers stick around'
ontariodealer
ontariodealer
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January 6th, 2017 at 7:51:43 PM permalink
Quote: WatchMeWin

It has to close over 20,000. If it hits but pulls back before the market closes... it doesnt count. Very close now!



i missed that it said close over..........my call was less than 1 third of a point off though.
get second you pig
odiousgambit
odiousgambit
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January 7th, 2017 at 3:01:46 AM permalink
Quote: WatchMeWin

18% annual return is very good... and its tax free in your IRA!

back to school for you - unless that's a Roth, which I doubt [and even then the gov got 'its']
Quote:

Most professional hedge funds dont even have that type of return.. they are happy if they can return 5-10% and think that is good. Your FA is doing a good job for you.

BBB, I would consider firing your FA. Yes, I said that for effect, but seriously, the only way you can get those kind of returns is very, very potentially nuts for someone retired or nearing retirement [which I believe fits the case]. Working out OK now but - do I have to go on? Nuff said, none of my business.
"We thank with brief thanksgiving Whatever gods may be That no man lives forever, That dead men rise up never" Nor any gambler the long run see ever ........apologies to Swinburne for that last line
WatchMeWin
WatchMeWin
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January 7th, 2017 at 5:42:01 AM permalink
Quote: odiousgambit

back to school for you - unless that's a Roth, which I doubt [and even then the gov got 'its']

Note - An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. The three main types of IRAs each have different advantages:
Traditional IRA - You make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement.1 Many retirees also find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate.
Roth IRA - You make contributions with money you’ve already paid taxes on (after-tax), and your money may potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.2
Rollover IRA - A Traditional IRA intended for money "rolled over" from a qualified retirement plan. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA.

BBB, I would consider firing your FA. Yes, I said that for effect, but seriously, the only way you can get those kind of returns is very, very potentially nuts for someone retired or nearing retirement [which I believe fits the case]. Working out OK now but - do I have to go on? Nuff said, none of my business.

Why is 18% nuts? It was very easily achievable this past year.

'Winners hit n run... Losers stick around'
odiousgambit
odiousgambit
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January 7th, 2017 at 8:09:58 AM permalink
Quote: WatchMeWin

Why is 18% nuts? It was very easily achievable this past year.



If you had all your funds in stocks it was doable, definitely better than the S&P 500 though. That kind of allocation would be for someone in their 20s, not someone at/near retirement.

BTW they say the millennials will hardly invest in stocks at all - only 1 in 3, and I suppose that means those that do invest cautiously.
"We thank with brief thanksgiving Whatever gods may be That no man lives forever, That dead men rise up never" Nor any gambler the long run see ever ........apologies to Swinburne for that last line
GWAE
GWAE
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Thanks for this post from:
MaxPen
January 7th, 2017 at 8:36:42 AM permalink
I know almost nothing abut the market but I have a question. When the market crashed my dad said he lost 80k from his 401k. Now that it is in better shape does that mean he should have recouped that plus a bunch or does the 20k mean nothing to him.
WatchMeWin
WatchMeWin
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January 7th, 2017 at 8:37:21 AM permalink
Quote: odiousgambit

If you had all your funds in stocks it was doable, definitely better than the S&P 500 though. That kind of allocation would be for someone in their 20s, not someone at/near retirement.

BTW they say the millennials will hardly invest in stocks at all - only 1 in 3, and I suppose that means those that do invest cautiously.



I understand your point.. The larger your portfolio becomes in value, the more conservative you become. Preservation mode.
Just dont put your money with Bill Ackman!
'Winners hit n run... Losers stick around'
beachbumbabs
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beachbumbabs
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January 7th, 2017 at 9:12:00 AM permalink
Quote: odiousgambit

back to school for you - unless that's a Roth, which I doubt [and even then the gov got 'its'] BBB, I would consider firing your FA. Yes, I said that for effect, but seriously, the only way you can get those kind of returns is very, very potentially nuts for someone retired or nearing retirement [which I believe fits the case]. Working out OK now but - do I have to go on? Nuff said, none of my business.



He has me in several relatively conservative mutual funds. His 10 year record on the strategy he's using has averaged 9.5% per annum, prior to this year, though he's been doing it for nearly 30 years.. He had a great year with it this year. My relatively small amount is riding along with several clients with 10x or more my assets, the type of investing not usually available to people at my level. So I won't be firing him any time soon.

He did, however, say I could bring a couple friends in if I wanted. They have to be willing to put their money in and leave it alone, as I have, rather than hitting it for funds or changes every couple of months. He doesn't gin fees; he buys and holds for extremely low cost to me, and has the volume to do well enough for himself without being greedy.

I know at least 3 honest brokers who are good at it; this guy, a good friend at Morgan Stanley corporate, and paradigm, though I know the least about paradigm. They are out there. They just don't get movies made about them.
"If the house lost every hand, they wouldn't deal the game."

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