Need Advice ASAP

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #46  
Old 03-13-2020, 04:12 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 6,495
Thanks: 673
Thanked 5,028 Times in 1,832 Posts
Default

Quote:
Originally Posted by jimlambert View Post
There are tax consequences to giving that much money to your kids all at once. Talk to an expert before doing that!
There is no income tax if you give money away. Also, there is no Federal estate tax, as long as you don't give away more $11.58 million during your lifetime. So, $200K won't even come close to triggering any taxes.
  #47  
Old 03-13-2020, 05:24 PM
rjm1cc's Avatar
rjm1cc rjm1cc is offline
Soaring Eagle member
Join Date: Apr 2010
Posts: 2,056
Thanks: 93
Thanked 270 Times in 106 Posts
Default

Pay attention to the costs.
I would look to an online broker. Either do it on your own or use their Robo free advice or there paid advice. I like ETF and maybe a stock or two you think is really good.
Since you can not time the market I agree with you that now is a good time to buy. Be sure to list the beneficiaries on the account if you do not have any special estate objectives.
  #48  
Old 03-13-2020, 06:05 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 6,495
Thanks: 673
Thanked 5,028 Times in 1,832 Posts
Default

Quote:
Originally Posted by rjm1cc View Post
Pay attention to the costs.
I would look to an online broker. Either do it on your own or use their Robo free advice or there paid advice. I like ETF and maybe a stock or two you think is really good.
Since you can not time the market I agree with you that now is a good time to buy. Be sure to list the beneficiaries on the account if you do not have any special estate objectives.
It may appear that the stock market is dropping like a rock. But, do the math. The S&P 500 Index closed today at only 3.5 percent lower than is was one year ago. So, it may not be as good a deal as it may seem.
  #49  
Old 03-13-2020, 06:10 PM
Kenswing's Avatar
Kenswing Kenswing is offline
Sage
Join Date: Jan 2016
Location: Villages Bound!
Posts: 6,427
Thanks: 1,197
Thanked 2,905 Times in 1,546 Posts
Default

Quote:
Originally Posted by Johnrocketstrong@yahoo.co View Post
I would recommend gold coins or gold. Gold is rising right now when all else is failing. We just had cashed some in and was worth $2000 more per coin than what we aquired for. Long term you can always go gold certificates. Very safe and probably best bet right now with unsure markets.
lol Gold is falling like a rock.. Last week gold hit $1,700 an ounce. Today = $1531..
__________________
Birthdays Are Good For You. Statistics Show the More That You Have The Longer You Will Live..

We've Got Plenty Of Youth.. What We Need Is a Fountain Of SMART!
  #50  
Old 03-13-2020, 06:22 PM
CoachKandSportsguy CoachKandSportsguy is offline
Veteran member
Join Date: Jan 2019
Location: Marsh Bend
Posts: 576
Thanks: 297
Thanked 571 Times in 236 Posts
Default Gold is an asset class correlate to inflation

Gold is an asset class which has no income, and has mostly used in jewelry, and small amount in industrial products. What gold is most highly correlated with is the strength of the US dollar which is reflective of the US relative inflation rate versus other currencies.

With US asset deflation, gold will go down, not up. With a currency crises meaning that the US inflation rate is increasing faster than the rest of the world's inflation rate, then gold will rise. With excessive debt, the dollar could plummet, increasing the price of gold. So everyone should own no more than 5% of a portfolio in gold, but that's it.

In today's market, people have been selling their gold to pay off margin and offset losses. Not until the US deficit balloons out of control, will gold start to appreciate significantly, YMMV
  #51  
Old 03-13-2020, 06:27 PM
Kenswing's Avatar
Kenswing Kenswing is offline
Sage
Join Date: Jan 2016
Location: Villages Bound!
Posts: 6,427
Thanks: 1,197
Thanked 2,905 Times in 1,546 Posts
Default

Quote:
Originally Posted by CoachKandSportsguy View Post
Gold is an asset class which has no income, and has mostly used in jewelry, and small amount in industrial products. What gold is most highly correlated with is the strength of the US dollar which is reflective of the US relative inflation rate versus other currencies.

With US asset deflation, gold will go down, not up. With a currency crises meaning that the US inflation rate is increasing faster than the rest of the world's inflation rate, then gold will rise. With excessive debt, the dollar could plummet, increasing the price of gold. So everyone should own no more than 5% of a portfolio in gold, but that's it.

In today's market, people have been selling their gold to pay off margin and offset losses. Not until the US deficit balloons out of control, will gold start to appreciate significantly, YMMV
But it's always good to have some on hand for the Zombie Apocalypse.. lol
__________________
Birthdays Are Good For You. Statistics Show the More That You Have The Longer You Will Live..

We've Got Plenty Of Youth.. What We Need Is a Fountain Of SMART!
  #52  
Old 03-13-2020, 06:31 PM
waynehal55 waynehal55 is offline
Member
Join Date: Jan 2020
Posts: 37
Thanks: 37
Thanked 31 Times in 20 Posts
Default

Quote:
Originally Posted by joeharing View Post
buy .........VYM
.........use the dividends or reinvest.
Great choice..............Yield is about %3.70.
  #53  
Old 03-13-2020, 06:37 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 6,495
Thanks: 673
Thanked 5,028 Times in 1,832 Posts
Default

But, I sure like those William Devane commercials. By the way, if you buy gold coins from that company, and then sell them back when the gold value has not changed, you will lose 8 percent of your money.
  #54  
Old 03-13-2020, 07:25 PM
Finchs's Avatar
Finchs Finchs is offline
Member
Join Date: Jun 2016
Location: CALUMET GROVE--Love the northside of The Villages!
Posts: 37
Thanks: 305
Thanked 39 Times in 15 Posts
Smile I respectfully disagree

Quote:
Originally Posted by dewilson58 View Post
This is a bad place to get investment advice.
You don't know the poster, the poster does not know you.
Too many "look at me and my great timing decisions" on this board.
Ask friends & family you trust and do your own due diligence.
Good Luck.
Hey, normally you would be right on, saying this is not the place for investment advice--However!
If you read the intelligent, thoughtful responses this post has received you may be surprised how really helpful they are! I retired as a real estate agent, but spent 20 years as a stockbroker and then as a financial planner before that, and at this time of downsizing in my own personal world of finance I find the advice given here lead me to explore some investment vehicles that I had not considered (ETFs specifically). In fact, I never heard of them til now. Those did not exist when I was in the business, and I really appreciate this posting opening up the discussion. Thanks, All!!!
  #55  
Old 03-13-2020, 08:30 PM
jimshrager jimshrager is offline
Junior Member
Join Date: Aug 2019
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Default

I would recommend dollar cost averaging until potential news of a cure for the coronavirus. Until that the news comes out the market will be very volatile and putting all the money in at at one time could be mistake. Talk to Fidelity here in The village about their managed accounts you get a personal advise to manage your account based on my risk tolerance .
  #56  
Old 03-15-2020, 07:20 AM
cuzg8tor cuzg8tor is offline
Member
Join Date: Dec 2007
Posts: 83
Thanks: 0
Thanked 0 Times in 0 Posts
Default

I have an appointment with a Vanguard advisor next Thursday. I think his services will cost me about $600 for managing the $200k for the first year. I will take this year to get smarter as an investor.

I need to learn how to pass this money on to kids with minimal tax due, how to sell and buy smartly, how to intelligently diversify and how to minimize costs. Excited about my new journey as I am OCD when it comes to learning new skills. Thanks for all of the advice even though some was contradictory.
  #57  
Old 03-15-2020, 07:28 AM
JoelJohnson JoelJohnson is offline
Veteran member
Join Date: Jun 2012
Location: Lady Lake, FL
Posts: 623
Thanks: 389
Thanked 181 Times in 87 Posts
Default

While I won't suggest what to buy, I do agree to wait a bit, but I suggest you open a ROTH IRA (depending on when you will need the money). If you won't need the money for over 5 years you can do very well in the market and withdraw the money tax free (after the first 5 years, not counting what you put in).
  #58  
Old 03-16-2020, 07:27 AM
Bay Kid's Avatar
Bay Kid Bay Kid is offline
Sage
Join Date: Feb 2013
Location: The Villages and the Northern Neck on the Chesapeake Bay, VA.
Posts: 3,746
Thanks: 705
Thanked 1,615 Times in 663 Posts
Default

Great time to buy a home. Interest rates are dropping like a rock.
Closed Thread

Tags
money, market, advice, week, estate

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 01:27 PM.