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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Investing megathread extravaganza
A place to talk about investing stuff.
Last edited by DaFace; 02-19-2021 at 06:35 PM..
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Old 10-13-2021, 05:39 PM   #11671
scho63 scho63 is online now
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Anybody here into physical precious metals? I'm intrigued by the stacks these guys have. https://www.reddit.com/r/Wallstreetsilver/top/
I see no big value in holding precious metals anymore.

The inflation hedge is Crypto coins, not precious metals.
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Old 10-13-2021, 08:03 PM   #11672
Hog's Gone Fishin Hog's Gone Fishin is offline
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Nah.

I need your AMC tips on when this is supposed to explode. We’re past July you know?!?!
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Did I say it would happen by the end of July? I don't believe so.
Let's put it on Trey's shoulders. He expects next leg up in 2-4 weeks.

https://www.youtube.com/watch?v=Cf5LA0WSVFQ
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Old 10-14-2021, 10:43 AM   #11673
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Price action looks good today. We are up against the 50 day SMA again, however. That was resistance last time we hit it and volatility appears to be trying to pick back up a bit which for the SPY is never a good thing. A break through the 50 day SMA would confirm a short term head and shoulders pattern but we really need to see a break through the highs on 9/23.
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Old 10-17-2021, 07:26 AM   #11674
MTG#10 MTG#10 is offline
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I talked about this a while back but need some clarification from the retirement plan experts here.

My company was bought out recently, so my existing 401k is being terminated. I've been given several options by some financial adviser that came over with the new company...rollover to a Roth and pay taxes, rollover to a traditional, or leave it where its at and it will automatically roll over to an American Funds IRA and invested into a money market fund.

I asked the guy about just straight cashing it out. I understand the tax implications since 401k's are pre-taxed, but other than tax there should be no other penalties assessed, correct? He strongly discouraged that choice and said there would be penalties on top of the tax.

I thought since the plan is being terminated and that is out of my control the cash-out penalties would be waived? We're not talking about a huge sum of money, this particular 401k has less than $20k.
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Old 10-17-2021, 08:19 AM   #11675
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Originally Posted by MTG#10 View Post
I talked about this a while back but need some clarification from the retirement plan experts here.

My company was bought out recently, so my existing 401k is being terminated. I've been given several options by some financial adviser that came over with the new company...rollover to a Roth and pay taxes, rollover to a traditional, or leave it where its at and it will automatically roll over to an American Funds IRA and invested into a money market fund.

I asked the guy about just straight cashing it out. I understand the tax implications since 401k's are pre-taxed, but other than tax there should be no other penalties assessed, correct? He strongly discouraged that choice and said there would be penalties on top of the tax.

I thought since the plan is being terminated and that is out of my control the cash-out penalties would be waived? We're not talking about a huge sum of money, this particular 401k has less than $20k.
I believe you have to pay a 10% penalty on top of any taxes for an early withdrawal.

If it was me, I'd just roll it over, preferably into a Roth IRA. Tax free growth!
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Old 10-17-2021, 08:22 AM   #11676
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Yeah, there is a penalty, I believe 10%. Between that and the tax, you'll lose close to half.

Don't do it. Talk to whomever the agent is about a Roth, but if there are tax implications, just roll it to a traditional. Don't **** around and get killed on pulling it out.
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Old 10-17-2021, 08:27 AM   #11677
DaFace DaFace is offline
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The automatic rollover is probably fine. Once it's rolled over, it's all but certain that you will have control over it and can choose your preferred investments at that point.
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Old 10-17-2021, 09:09 AM   #11678
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Originally Posted by MTG#10 View Post
I talked about this a while back but need some clarification from the retirement plan experts here.

My company was bought out recently, so my existing 401k is being terminated. I've been given several options by some financial adviser that came over with the new company...rollover to a Roth and pay taxes, rollover to a traditional, or leave it where its at and it will automatically roll over to an American Funds IRA and invested into a money market fund.

I asked the guy about just straight cashing it out. I understand the tax implications since 401k's are pre-taxed, but other than tax there should be no other penalties assessed, correct? He strongly discouraged that choice and said there would be penalties on top of the tax.

I thought since the plan is being terminated and that is out of my control the cash-out penalties would be waived? We're not talking about a huge sum of money, this particular 401k has less than $20k.
Roll it over to an IRA and have unlimited choices (ask about a ROTH), including individual stocks. Do not take the penalty, that's absolutely pointless for you.
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Old 10-17-2021, 09:43 AM   #11679
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I guess I got some bad info, thanks guys. I always thought and must have heard somewhere if an employer terminates a 401k you can cash out with only taxes paid and no penalty. Now I know.
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Old 10-17-2021, 09:54 AM   #11680
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I guess I got some bad info, thanks guys. I always thought and must have heard somewhere if an employer terminates a 401k you can cash out with only taxes paid and no penalty. Now I know.
That'd be a really good loophole for somebody who's self-employed or buddies with the boss!
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Old 10-17-2021, 10:39 AM   #11681
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Yeah, there is a penalty, I believe 10%. Between that and the tax, you'll lose close to half.

Don't do it. Talk to whomever the agent is about a Roth, but if there are tax implications, just roll it to a traditional. Don't **** around and get killed on pulling it out.
This.
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Old 10-17-2021, 11:01 AM   #11682
Hog's Gone Fishin Hog's Gone Fishin is offline
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I guess I got some bad info, thanks guys. I always thought and must have heard somewhere if an employer terminates a 401k you can cash out with only taxes paid and no penalty. Now I know.
You're in good hands here. We're all financial advisors.

Buy moar AMC.
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Old 10-17-2021, 11:13 AM   #11683
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by MTG#10 View Post
I guess I got some bad info, thanks guys. I always thought and must have heard somewhere if an employer terminates a 401k you can cash out with only taxes paid and no penalty. Now I know.
You're in good hands here. We're all financial advisors.

Buy moar AMC.
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Old 10-17-2021, 11:16 AM   #11684
Rausch Rausch is offline
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You're in good hands here. We're all financial advisors.

Buy moar AMC.
Just watch congress closely and do what they do...
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Old 10-17-2021, 11:38 AM   #11685
Hog's Gone Fishin Hog's Gone Fishin is offline
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Just watch congress closely and do what they do...

Destroy America.... No thanx
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