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Bishop

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Posts posted by Bishop

    Home Brewing Beer

    in Squadron Bar

    Posted

    if you are going to go with child-size kegs then try these:

    http://www.homebrewi....html?AffId=160

    that's only 20 pints though. Won't last a week.

    I have about 6 3gallon kegs laying around for about 3 years I had wanted to get into kegging but then I had to moved into a extremely small apartment and put an end to my kegging dreams. These look pretty awesome though. either do mini batches (that take the same time as a full batch (- the time for the water to boil). If you go that route I would recommend brewing more than the keg can fit and keeping at minimum a 6 pack to bottle condition. If I had the money id defniitely spring for these 2.5's and get a 1.7cu fridge to put them in.

    General Petraeus resigns amid affair scandal

    in General Discussion

    Posted · Edited by Bishop

    I looked for pictures online of Holly Petraeus when she was younger and she was a pretty lady. Time is not kind to everyone, but I am always impressed to hear what she has done for military families. However, I have no personal knowledge of it.

    You kidding me? Just look at that dog!!

    8100857193_fbcefe4ec9.jpg

    Update.. OK didn't read the caption, I guess Holly is the one in the chair with the blue coat (J/K)

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted · Edited by Bishop

    I guess you owe me $100. I do feel the need to respond to statements made towards me or about something I said. Not sure where you got the blame everyone else part from but alright.

    Not sure where you got that I was going to start UPT anytime soon. That ship has sailed and I unfortunately was not on it, would of been nice though.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    DN, I guess we have different meanings of the words advice, your personal experience mixed in with your take on a few of the items being thrown around comes off a lot like advice to me in some shape or form. Im not saying your telling us to go buy this stock and sell that fund, but your first hand account of being screwed over is advice enough for some of the people in here to possibly stop one from making a bad decision.

    Butters, I'm not TSP eligible (no gov affiliation), if its all the same, Ill stick with my current format of investing (combing message boards for the next great stock tip!). Its working out very well for me in that I never have to worry about CG taxes because I never gain anything.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    Thank you Butters, I apologize for jumping to the offense previously, I really thought you were being sarcastic toward me

    I was referring to it as a penalty because to my understanding your taxed differently Short term (no to your benefit) then you are long term. Regarding specifying which securities you intend to sell, when I used USAA I did not see an option to state which ones you wanted to sell (I assume they are FIFO). I know the concept is not that difficult to grasp but with taxes there is always some sort of side note it seems (this only applies if a and b did or didn't happen). Just wondering if that was one of those instances.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted · Edited by Bishop

    You keep telling me to not ask advice on an anonymous forum, however your giving out most of the advice on here (and its pretty damn useful advice). Perhaps I underestimated the complexity of my question and/or screwed up the wording I'm sure it was both. I was asking for clarification on the penalty's for short term gains with 3 different scenarios, not sure why that is hard for you to understand, but go ahead and belittle me more because you didn't understand what I was saying. No one is able to answer it fine enough, ill keep looking. If my post didn't make sense and you are willing to help me on the subject then maybe ask me to clarify what I asked, or at least tell me I would have better luck with an answer if my question dint look like a pile of crap.

    I was not throwing spears, like I said I picked up on a smart ass remark so I replied back to him the same way. To simplify where I felt he was being a smart ass, it should be pretty clear to someone reading my question that I understood >1y=Short term, so it should be pretty obvious <1yr=long term gain. Not to mention I didn't ask anything about long term gains my question was only dealing with 1 year or less. Then he tells me I shouldn't be doing any trading because I dont know the difference, does that mean since you cant answer my question you have no business trading stocks either? If he was truly trying to help and not be sarcastic with his response to me then I am truly sorry I misread his tone.

    This is going off course, so I am sorry if I upset you or butters, you were both right and i was wrong. Thank you for your insight whether you believe it or not, I admire your knowledge on investments.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    I suggest you quit being a prick. Don't come on here and ask for advice then throw spears at someone attempting to reply to your question honestly--even if it's not quite what you were looking for.

    I wasn't really being a prick, maybe I misread the tone but I picked up sarcasm in his post and responded as I would normally to someone being sarcastic towards me. If he had read my question it would be quite obvious I understand that if you dont hold it for a year you are penalized with short term gains my question was regarding the clarification of the rule and other factors that would be accounted for in the penalization. What I took as sarcasm was him stating that if I dont understand the difference between short and long term gains I shouldn't be trading at all when that had nothing to do with my original question.

    Thank you for reiterating your advice to not take advice on an anonymous board. Ill be the first to admit I dont know my @$$ from my hand on most of this investment stuff, you were one of the people I was referring to who appears to know much more about this than I and I was hoping to get some sort of useful feedback but would of been just as ok with none at all. Instead I'm getting criticism for my curiosity which is fine too, but not what I was hoping for. This thread is about investments, taxes need to be taken into account on investment decisions, I figured it was a good place to ask.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    There is no penalty. Selling within a year is taxed at short term capital gains rate and over a year is long term. If you do not know the difference I would stop buying shares of XYZ on your e-trade account and go talk to a proffsional. ( not Dave Ramsey)

    I suggest you re-read my original question. I was asking how literal the law is or if there are exceptions with regards to selling then picking the same thing up a week later if it makes a difference and other scenarios. I was also asking if anyone knew the IRS takes your income before or after the sell in determining your bracket. This question primarily comes about from curiosity of dividends that get auto reinvested are those also required to be held for a year. Thank you for explaining to me the difference between short and long term although that isn't what I asked.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    Some of you seem much more informed on some of this stuff than I am. Was hoping to get some clarification on the tax penalties when holding a stock less than a year. May seem pretty straightforward but want to be sure I have a clear understanding

    • I buy one share of XYZ today and then Next week I buy another share of XYZ
    • One year from last week I sell one of my shares having held both shares less than a year but I'm still holding the other share, I assume I'm hit with the tax penalty for that one share (assuming I had profit)
    • I pick up another stock of the company a week later, does it matter that I'm back up to 2 shares in that tax year?
    • When I am being taxed on the short term gains, are they taxing me on my pre-gain income or is the gains from the sale figured in possibly bumping me up another bracket.

    Just FYI this is purely curiosity and i have been reading up on it and became confused by it. I am nowhere near a stage that I would possibly worry about being bumped up another tax bracket (nor am I dealing with any "gains" at this moment.

    Thanks in advance.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    Why buy individual stocks? Index funds with extremely small expense ratios will almost always outperform individual stock purchase plans like that one. And $12 a month actually does sound like a lot compared to $0 per month with companies like Vanguard where you can set up the same system for free.

    After looking at Vanguards, I see the value if I am just buying up vanguard ETF's but If I invest in something other than vanguard I'm looking at 7.25 a trade and then after so many it jumps to $20 a trade.

    Three holer, what do you consider a good fee schedule? I had everything with USAA but even that gets pricy after a while. I see they have the $4 flat fee brokerage at tradeking. Am I missing something seeing where the $12 a month for 12 auto trades ($1 per trade beyond 12) and discounted brokerage ($7.95 a trade).

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    Why buy individual stocks? Index funds with extremely small expense ratios will almost always outperform individual stock purchase plans like that one. And $12 a month actually does sound like a lot compared to $0 per month with companies like Vanguard where you can set up the same system for free.

    And to second Noonin's advice, if you haven't read The Investors Manifesto, I suggest you go to the library ASAP. I won't go into all the math he does, but he goes through a hypothetical situation where an investor uses a brokerage for 40 years that charges a 3% fee. If the brokerage turns around and invests their 3% charge in an index fund like most of them at Vanguard, the brokerage will have actually made more money over the 40 years than the investor. That is pretty eye opening and could/will have a huge impact on your retirement savings.

    I like to have a mixture of the index funds and the individual stocks never let yourself be weighted in one thing. I am looking into vanguard but for the time being I have about $200 in different incentives i got just for signing up that I need to stay with them for a while.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted · Edited by Bishop

    I'm a bit confused, I was previously told by someone that the mil does not offer a "Matching" retirement investment vehicle like 401k. If they do what is the % match they offer?

    Also, anyone utilize sharebuilder for their investments? I just signed up for them, seems like their auto investment plan for $12 a month is a nice deal (12 stock purchases included, every 1 after is $1, plus other discounts). Before I jump into that was wondering if anyone has experience with them.

    Investment showdown -- beyond the Roth, SDP, & TSP

    in Squadron Bar

    Posted

    Not sure anyone's figured out how to do that yet...

    What he said. If you are very anal about your finances, Id recommend GNUcash, works good across platforms, and I used it when I was in my linux kick. I just use USAA's money tools to track "where I spend" for the most part. once every few months ill look at my purchase history and think of items anywhere I overspent and make adjustments if necessary. What works for me is pre-routing my paycheck into separate accounts. I have fixed dollar amounts going into my checking, and joint accounts, whatever is left over goes into my savings account that I use to feed into investments and/or emergency funds. All bills are paid from the joint, and the checking account is my own money to spend as I want.

    Fantasy Football 2012

    in Squadron Bar

    Posted · Edited by Bishop

    Looks like im out unless I can get an invite to join the league by 7pm est today (31st). Going out of the country until the 10th

    If im not able to sign up hope everyone enjoys it, I played 2 years ago and it was a good time

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