[quote=BankFC][quote=7GOD63]

For an IRA????? At 130 billion I dont see it as a steady blue chip or long term investment.

Noggin sometimes I write with a little bit of shazam. Hope you dont mind.

Skee what is IMO? Amazing that the company had the wrong tax bracket. WOW, that really makes you question a potential earning correction over the next year or two. Just like the good old times in 2000.

[/quote]

Hey dipsh*t,

If you are going to buy and sell stocks over short periods of time (aka under 13 months) it is BETTER to do it in an IRA to avoid SHORT TERM CAPITAL GAINS.  Even better in a Roth if your income is within range.

Newbies.

[/quote]

Harsh words BankFC.

Yeah...maybe I should've worded it a little nicer...I do apologize.

Long day my friends.

I know the feeling.  Just took me by suprise, you’re normally a little more diplomatic.  Hope tommorrow’s a better day for you.

I appreciate it.

[quote=BankFC]

Yeah...maybe I should've worded it a little nicer...I do apologize.

Long day my friends.

[/quote]

By the way smartarse LONG TERM is 12 months and 1 day if your going to go and take potshots at people at least get your facts right......

Thanks for the guidance. I have a long way to go... So many little tricks of the trade... For sure one learing this stuff can really help them selves in the long term...

Joe,

Take a pill man.  I had a cocktail last night and it was all better  , plus I did apologize to the kid...

I actually meant to put a 12 there, you know, the button beside the 3...but regardless, it doesn't matter anyway.  I got my point across.

7god63,

I appreciate your attitude.  I had to learn the hard way right out of college, and I have very little patience for new guys that don't take the time to learn basic concepts.  I have a feeling you might not be one of those guys.  I hope anyway. 

Do most people here mess around with their retirement account to avoid capital gains? AMZN following the trend of google... 

Yeah I am a young pup in this industry. About to take the 7,66 and what ever else. I have been around the block so I know what it’s like to deal with a rookie.

Hey so you did well although you started after college? I say this since many hammer the super rookies or new college grads.

I do all my individual stock trading in my IRA.  I have a 401K, and it’s in MFs of course.  In my taxable account I have a few MF (bought at NAV of course ), some IShares, and I also on a non-publicly traded REIT.

Also I understand the 12 month rule with capital gains, but I just though as the IRA as a safety net… Do not mess with it type stuff. I talk to a lot of union guys who have been changing portfolio daily. To me that is risky to try to time the market. If and when there is a down turn they may think tomorrow will be a better day (like a gambler) and get wacked day after day.

I do my personal individual stock trading in my taxable account and have MFs and Reits in my IRA/Simple IRA.   I can take advantage of the cap gains rate of 15% and if need be offset capital losses with cap gains. Tax wise it works for me since my husband and I are both self employed and are always having to work the angles.

Everyone is different.  No hard and fast rule.

I actually started WHILE IN college, as an intern.  Been studying this business since then (important, I spent much more time learning the "business" than studying the market, understand?).

It's been an uphill battle (the age thing), but for the most part, I have gotten past it.  When you are younger than EVERYONE you sell to, you must:

1.  Own it, don't hide it.  Don't display it on your forehead, but if asked, be honest and move on.  You can use this to your advantage...I have a 2 minute story I tell (if needed) that takes the entire issue off the table. 

2.  Know as much as you can.  Devour information.  Be articulate.  The only reason age is an issue is because people equate age with inexperience.  The only reason inexperience is an issue is because that equates with lack of knowledge, which in turn means NO VALUE.

So, in a confident manner, show folks your ability.  For example, I explain, in a very easy to understand way, the concepts of beta and alpha, and how they relate to evaluating a portfolio.  These are easy concepts to learn, and they come off as impressive to most clients.  That's one example.

3.  Look the part.  Lean always towards conservative.  Shave.  Buy decent shoes, a nice belt (one that wasn't bought at American Eagle), keep your hair cut, etc.  You don't need expensive suits, I don't care what anybody on here says.  Any decent tailored or well fitting suit will be fine. 

4.  Do about 1/4 of the talking.  It's harder to say something stupid when you aren't talking.  Stay away from subjects you are uneducated on. 

Those are some of the things that have helped me.  My free gift of the day.   

Babbling,

What do you mean "I can take advantage of the cap gains rate of 15% and if need be offset capital losses with cap gains."

I understand what your saying, but my point was if I am trading stocks held less than 12 months, I am doing it inside my IRA to avoid SHORT TERM CAP GAINS, which, as you know, is not 15%, but is taxed as ordinary income.

If you are holding stocks longer than 12 months, that's fine.  15% tax isn't the worst thing in the world.  But I am quite a bit younger than you, and I am buying and selling concentrated positions in the short term (aka speculating, and doing darn well I might add), and I'd rather not pay any taxes on it, let alone ordinary income.

So your point, while not untrue, is a little inaccurate in reference to the point being made.

Nice feedback. For sure that is great advice for anyone in the industry.

[quote=BankFC]I do all my individual stock trading in my IRA. [/quote]

I used to do the same thing, but not anymore. I tell clients to hold stocks in a taxable account and bonds and bond funds in a retirement accounts, because stocks produce capital gains and dividends, which are taxed at a much lower rate than the interest paid on bonds.

When stocks are in a retirement account, and the money is withdrawn, it’s taxed as regular income, as if it had been earned on the job. As a result, you are giving away an important tax break.

Stocks have a much lower after-tax return inside a retirement account than they do outside, with no reduction in risk. If stocks are held outside the retirement account, Uncle sam, in effect, shares the risk by allowing a tax deduction for any losses.

I'm no CFP or CPA, but this is why I get paid the big bucks.  Asset location is as important as asset allocation.

Good point, but only applicable if you are referring to a traditional IRA, not a Roth, which is the BEST place to trade individual stocks.

Good point, my clients don’t qualify for a Roth. Thanks.

Skee, don't get touchy just because I pointed out a fact.

LOL, I'm sure EVERY client you have is ineligible to contribute to a Roth, and you are a multi-million dollar producer. 

There, feel better?