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Old 04-29-2021, 12:28 PM
DAVES DAVES is offline
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Originally Posted by Boomer View Post
Yes. Those kinds of records of trades can be tedious. I always set a limit price on a trade and now I plug in “all or none” on the order. With no commissions now, I realize making the order read “all or none” might seem moot. But I just don’t want to see little batches traded within nano-seconds when I look at buy and sell histories.

I never recommend a stock — although, obviously, sometimes I do like to discuss stocks. Earlier in this thread, I did recommend playing around, just a little, with a stock to see what you really think about owning it — for real — for a more significant amount or time. (Easiest done, if possible, inside an IRA so no tax consequences for capturing a gain if you want to.)

Nobody can predict the market. I am aware that even without commissions built in and semi-hidden fees, a lot of those giving “expert” advice get paid on a percentage basis. If it’s 1% a year, they tap the account quarterly. Whether the client is making money or not, the advisor always does — obviously more when the investments are up — but never “nothing.”

Dave, I am not clear on what you mean about IRAs and the “fee” you mention. All I know is that IRAs remain tax-deferred until tapped, whether by choice or because the RMD age has been reached. That’s when the tax-hit happens. (At RMD age, using a QCD, if charitably inclined, can be a tax advantage and a good one — definitely worth learning about to consider, at least.)

I think if you hit an IRA before 59 & 1/2, there is an early withdrawal tax penalty and I am pretty sure it’s 10%. But those are the only things I know about tax consequences from an IRA. I don’t know anything about a “fee” other than the tax thing.

Anyway, thanks for the conversation.

Boomer
My view. A large part of knowledge is knowing what you don't know. For many people, they don't know but will gladly argue that what they don't know but they are sure they are right.

I am aware that there is an all or none option. I'm not sure if you chose that option it, might prevent your order from going through, As I stated I have had trades where it is say a few hundred shares and it trades in groups of weird numbers all at the same 10th of a second. Like 6 shares, 8 shares etc etc etc it seems to be impossible and yet, I've seen it many times. I don't recall ever placing a sell at whatever price I've put in and had only part of it sold. We do not see what is going on. I assume once part of your sell order goes though you get put on some sort of priority status.

Re: not recommending a stock. I proudly think different than most. In discussing a stock I always make it clear that I HAVE and say it as many times as necessary for it to sink in, I am not an expert. I will be happy if you make money because it means that I have made money. If, you lose money, I to have lost money. When, talking money, truth is it is very rare that anyone will tell you the truth. Many people even without knowing it lie to themselves. Wow I made xxxx on this trade and xxxx on that trade. It is far to easy to forget wow I lost it all plus on that trade. I like the fidelity reports. It keeps me honest with myself.

Re: 1% to an advisor. I don't know what your position is on this. As you said they do not take 1% of your gains. I may be wrong but I think that was made illegal at the time of the great depression. People do not understand math. If, an advisor is charging you 1%
and your account is 10,000 I don't think they would take such an account but the math is the same. 10,000x.01=$100. If, you make one percent that year they take your entire gain. If, you lose money that year say 1%, they still take their 1%. Fuzzy math but you are down not 1% but 2%. Nothing is free. Is it worth it? Perhaps.

Re: calling a TAX a fee in an IRA.
Actually the same is true in a ROTH. When, you sell a stock there is a FEE that goes to the government. I had looked it up in the past. This FEE that is a TAX on what is supposed to be a non-taxible account is as I stated a word spin. Right now, if, I recall it is like .15 on any sale. Like ,25 on 10,000. Yes, it is nominal. We should know from experience any TAX always works the same. It is slipped in and then it goes up.

As far as RMD. It is now 72. I have about a year to go. I am planing on what to do.
Last I looked giving to charity is limited to 100,000. I'm not sure what my number is.
But, I do expect tax laws to change in a year. I read years ago they need to keep changing the tax laws to prevent people from figuring out how to minimize the taxes they pay. There is no problem finding people ready, willing and able to take the money I've worked for.