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  1. #14751
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    So, toss a few bucks at RIVN at IPO or wait? With today's tech disaster happening this is probably not the best time to be asking this question...

  2. #14752
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    Facebook is in serious trouble. Tons of bad press.

    https://www.nytimes.com/2021/10/04/t...ook-files.html

    The world is perfect. Appreciate the details.

  3. #14753
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    Quote Originally Posted by gravitylover View Post
    So, toss a few bucks at RIVN at IPO or wait? With today's tech disaster happening this is probably not the best time to be asking this question...
    If you look back at any of the other IPOs this year, you can assume it's going to be frothy as shit! Had a client hell bent on getting in on the BROS IPO a couple weeks ago, advised we should wait a couple weeks and let it cool off. Adamant to buy at $50, refused to take profit at $62, watched it drop to low $40s.

    Honestly, I'd let it do its thing for a bit. Especially a sector like EV and a company that has been anticipated for a while.

    Not Financial Advice

  4. #14754
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    Quote Originally Posted by CovertM View Post
    If you look back at any of the other IPOs this year, you can assume it's going to be frothy as shit! Had a client hell bent on getting in on the BROS IPO a couple weeks ago, advised we should wait a couple weeks and let it cool off. Adamant to buy at $50, refused to take profit at $62, watched it drop to low $40s.

    Honestly, I'd let it do its thing for a bit. Especially a sector like EV and a company that has been anticipated for a while.

    Not Financial Advice
    In this age why would someone wanting to speculate in ipoís even ask an advisor? Conversely, why would an advisor even do that? Itís not like thereís a commission to be made on the trade.

  5. #14755
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    Thereís a significant gap on the sp500 daily chart between 4000>4050

  6. #14756
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    Quote Originally Posted by 4matic View Post
    In this age why would someone wanting to speculate in ipo’s even ask an advisor? Conversely, why would an advisor even do that? It’s not like there’s a commission to be made on the trade.
    I have a lot of clients with small unsolicited individual positions. They'd rather have everything in one place and not bother opening a RH account

    I will waive my AUM fee for individual positions that the client wants to manage themselves (when to buy more, when to sell), but keep a tight limit on % of total investable net worth.

  7. #14757
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    That's pretty shitty financial advice. But, hey, it's 2021.

    The world is perfect. Appreciate the details.

  8. #14758
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    Quote Originally Posted by Benny Profane View Post
    That's pretty shitty financial advice. But, hey, it's 2021.
    Huh? What is?

    Don't be bitter that you can't afford sound financial advice.

  9. #14759
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    The best financial advice I ever received was to buy low and sell high. It seems pretty obvious, but in practice it's harder than it looks.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  10. #14760
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    Quote Originally Posted by CovertM View Post
    Huh? What is?

    Don't be bitter that you can't afford sound financial advice.
    The best financial advice is free. Well, a Bogle book or two may cost a six pack's worth of coin, but, the internet and other media is saturated with safe, simple advice that works. It's remarkable to me that most people actually pay for day to day advice. Sure, a tricky inheritance would need some one time advice, but, generally, dollar cost averaging saving, mostly equities when young and transitioning to a classic 60-40 equity bond mix with age, buy a house if you think you aren't moving for awhile, don't buy stupid shit like expensive cars that basically do the same thing as cheaper cars, live in a town with excellent public schools to avoid private school costs, and learn to cook. Easy.

    The world is perfect. Appreciate the details.

  11. #14761
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    Quote Originally Posted by Benny Profane View Post
    The best financial advice is free. Well, a Bogle book or two may cost a six pack's worth of coin, but, the internet and other media is saturated with safe, simple advice that works. It's remarkable to me that most people actually pay for day to day advice. Sure, a tricky inheritance would need some one time advice, but, generally, dollar cost averaging saving, mostly equities when young and transitioning to a classic 60-40 equity bond mix with age, buy a house if you think you aren't moving for awhile, don't buy stupid shit like expensive cars that basically do the same thing as cheaper cars, live in a town with excellent public schools to avoid private school costs, and learn to cook. Easy.
    Ok, Suze Orman.

    Look, I don't claim that what I do is overly sophisticated. I tell most people they could easily manage their own money (most clients are highly educated professionals) but do they really want to spend their time vetting positions on a quarterly/annual basis? Do they want to spend their time rebalancing allocations regularly? Also, investment management is one slice of the pie. How do you turn your hard earned dollars into retirement income? Is the 4% rule really all you need to succeed? When to claim SS? When to consider Roth conversions? Wealth transfer/gifting considerations? etc.

    Clearly you are not the target audience, you know it all already. GL and keep dca into your super secret squirrel fund that outperforms all.

  12. #14762
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    facebook down...stock price too.

  13. #14763
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    Quote Originally Posted by CovertM View Post
    Ok, Suze Orman.

    Look, I don't claim that what I do is overly sophisticated. I tell most people they could easily manage their own money (most clients are highly educated professionals) but do they really want to spend their time vetting positions on a quarterly/annual basis? Do they want to spend their time rebalancing allocations regularly? Also, investment management is one slice of the pie. How do you turn your hard earned dollars into retirement income? Is the 4% rule really all you need to succeed? When to claim SS? When to consider Roth conversions? Wealth transfer/gifting considerations? etc.

    Clearly you are not the target audience, you know it all already. GL and keep dca into your super secret squirrel fund that outperforms all.
    You seem to exist to make them nervous, and make money from it. Why "vet" quarterly? Why worry about allocations so much? You want retirement income? Save enough in a Roth that you'll have some money for income. Claim SS maybe not at 62, but, pretty soon, because you're going to be really old, sitting in a chair, in your 70s, so, use it up. Fuck, I hear these people telling the public to wait until age 70 or so, and to me it sounds like a plot from the guvment to keep their money. Sorry, most people ain't making it to 80. Look around. 55 year olds look like shit, unless you're living in the mountains.
    Ok wealth transfer and inheritances require a bit of gaming the ever changing tax codes, but, your accountant can advise on that.

    I read once that most people, including your educated professionals, hell, probably mostly them, spend more time planning vacations than their personal finances. It's not hard, and, you really shouldn't dick around with it much, maybe once a year, because, if you really start worrying about it, you're inevitably going to do the stupid thing number one: panic and sell low after you bought high in good times. And there are always good and bad times.

    The world is perfect. Appreciate the details.

  14. #14764
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    Quote Originally Posted by Benny Profane View Post
    You seem to exist to make them nervous, and make money from it. Why "vet" quarterly? Why worry about allocations so much? You want retirement income? Save enough in a Roth that you'll have some money for income. Claim SS maybe not at 62, but, pretty soon, because you're going to be really old, sitting in a chair, in your 70s, so, use it up. Fuck, I hear these people telling the public to wait until age 70 or so, and to me it sounds like a plot from the guvment to keep their money. Sorry, most people ain't making it to 80. Look around. 55 year olds look like shit, unless you're living in the mountains.
    Ok wealth transfer and inheritances require a bit of gaming the ever changing tax codes, but, your accountant can advise on that.

    I read once that most people, including your educated professionals, hell, probably mostly them, spend more time planning vacations than their personal finances. It's not hard, and, you really shouldn't dick around with it much, maybe once a year, because, if you really start worrying about it, you're inevitably going to do the stupid thing number one: panic and sell low after you bought high in good times. And there are always good and bad times.
    (Face Palm) not worth it to discuss/refute your idiotic generalizations...congrats you made me almost argue with an internet troll. Now go make an appointment with an independent CFP and make sure you're all set, because based on your statements...you might be having a bad time sooner than later.

  15. #14765
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    Is the stock market going to tank?

    Taking Social Security early is horrible advice. The worst. Itís much better to drawdown savings and wait if you have the means. Especially if you have savings to draw that have already been taxed and interest rates are this low. Iím guessing you needed the money Benny? With a 6% cola this year anyone that has waited is getting PAID.

    https://content.schwab.com/web/retai...-single-4.html

    At 8% gain per year and now an additional 6% cola just waiting to full retirement age would have a significant payoff.

  16. #14766
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    Quote Originally Posted by CovertM View Post
    (Face Palm) not worth it to discuss/refute your idiotic generalizations...congrats you made me almost argue with an internet troll. Now go make an appointment with an independent CFP and make sure you're all set, because based on your statements...you might be having a bad time sooner than later.
    I'll bet you sell indexed annuities and insurance products, right?

    The world is perfect. Appreciate the details.

  17. #14767
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    Quote Originally Posted by 4matic View Post
    Taking Social Security early is horrible advice. The worst. Itís much better to drawdown savings and wait if you have the means. Especially if you have savings to draw that have already been taxed and interest rates are this low. Iím guessing you needed the money Benny? With a 6% cola this year anyone that has waited is getting PAID.

    https://content.schwab.com/web/retai...-single-4.html
    I ain't working and you are, genius. That's the point. To not work for somebody else if you don't have too.

    And to make it even simpler for you, genius, you don't live forever.

    The world is perfect. Appreciate the details.

  18. #14768
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    Quote Originally Posted by Benny Profane View Post
    I ain't working and you are, genius. That's the point. To not work for somebody else if you don't have too.

    And to make it even simpler for you, genius, you don't live forever.
    Jibberish to justify your pathetic choices.

  19. #14769
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    Do you still live in a place where you have to put bars on your windows? And I'm gibberish?

    The world is perfect. Appreciate the details.

  20. #14770
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    Is the stock market going to tank?

    Quote Originally Posted by Benny Profane View Post
    Do you still live in a place where you have to put bars on your windows? And I'm gibberish?
    I sold it for $900k. now I live 80 miles from Kirkwood just below the snow line in a gated country club.

  21. #14771
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    Quote Originally Posted by 4matic View Post
    I sold it for $900k. now I live 80 miles from Kirkwood just below the snow line in a gated country club.
    Name:  vein face.PNG
Views: 136
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  22. #14772
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    Quote Originally Posted by 4matic View Post
    Jibberish to justify your pathetic choices.
    benny vs 4matic in the retired blowhard battle Royale.

  23. #14773
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    Quote Originally Posted by dunfree View Post
    benny vs 4matic in the retired blowhard battle Royale.
    You keeping score? Please..

  24. #14774
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    Quote Originally Posted by 4matic View Post
    You keeping score? Please..
    If by score you mean injuries, yes. Now don’t be a pussy and get back out their tiger.

  25. #14775
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    Quote Originally Posted by Benny Profane View Post
    I'll bet you sell indexed annuities and insurance products, right?
    Lol, don't touch them, never will. Unwind quite a few BS products that people come in with though. Clearly you don't understand what a fiduciary adviser does, I couldn't touch those products and hold myself out as a fee only adviser. Sorry the annuities touched you inappropriately and you didn't seek advice.

    If you took SS at 62 or even FRA, sorry. Where else can you get a guaranteed 8% annual return (not including COLA)? I can't promise that! Can't tell you how many people have showed up after taking SS early because of conspiracy guberment BS you alluded to.

    edit: just say 4matic stating the same thing.

    take a walk benny and listen to another Bogle interview

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