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Post by PolarsStepdad on Oct 29, 2024 9:17:35 GMT -5
Shoukd I be buying or selling
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Post by ferris1248 on Oct 29, 2024 10:13:14 GMT -5
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Post by ferris1248 on Oct 29, 2024 10:18:13 GMT -5
The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025. The tax items for tax year 2024 of greatest interest to most taxpayers include the following dollar amounts:
The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
Marginal rates: For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).
The other rates are:
35% for incomes over $243,725 ($487,450 for married couples filing jointly)
32% for incomes over $191,950 ($383,900 for married couples filing jointly)
24% for incomes over $100,525 ($201,050 for married couples filing jointly)
22% for incomes over $47,150 ($94,300 for married couples filing jointly)
12% for incomes over $11,600 ($23,200 for married couples filing jointly)
The lowest rate is 10% for incomes of single individuals with incomes of $11,600 or less ($23,200 for married couples filing jointly).
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Post by OhMy on Oct 29, 2024 13:35:27 GMT -5
Anybody own an income annuity?
I am looking to invest in something with a guaranteed income when I am older.
I am semi-retired now and will likely work part-time until I die or become ill. It would be nice to have a another source of income when I get older.
Alternatively, I could buy a rental investment but that comes with other types of issues and I would definitely not buy a rental property in Miami, way too costly right now.
As far as the stock market. I like index based ETF.
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Post by PolarsStepdad on Oct 29, 2024 14:44:11 GMT -5
Whew I hope I have some deductions
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Post by madm002 on Oct 30, 2024 10:13:04 GMT -5
Anybody own an income annuity? I am looking to invest in something with a guaranteed income when I am older. I am semi-retired now and will likely work part-time until I die or become ill. It would be nice to have a another source of income when I get older. Alternatively, I could buy a rental investment but that comes with other types of issues and I would definitely not buy a rental property in Miami, way too costly right now. As far as the stock market. I like index based ETF. The problem with an annuity is that when you die it goes away. If you have an assets that yields 8 per cent or more which is the same or more as a annuity you keep you money. I find it hard to beat qqq and spy |
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Post by OhMy on Oct 30, 2024 10:35:42 GMT -5
Anybody own an income annuity? I am looking to invest in something with a guaranteed income when I am older. I am semi-retired now and will likely work part-time until I die or become ill. It would be nice to have a another source of income when I get older. Alternatively, I could buy a rental investment but that comes with other types of issues and I would definitely not buy a rental property in Miami, way too costly right now. As far as the stock market. I like index based ETF. The problem with an annuity is that when you die it goes away. If you have an assets that yields 8 per cent or more which is the same or more as a annuity you keep you money. I find it hard to beat qqq and spy Thank you. I just bought SPY this morning. I already own a bunch of QQQ. My certified financial planner said something similar and said the fees are also expensive. I guess I will avoid those. I have 2 CFP advisors and one was discussing annuities yesterday so I thought i would cross check him with the other financial planner and the forum experts too!! |
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Post by madm002 on Oct 30, 2024 11:28:14 GMT -5
The problem with an annuity is that when you die it goes away. If you have an assets that yields 8 per cent or more which is the same or more as a annuity you keep you money. I find it hard to beat qqq and spy Thank you. I just bought SPY this morning. I already own a bunch of QQQ. My certified financial planner said something similar and said the fees are also expensive. I guess I will avoid those. I have 2 CFP advisors and one was discussing annuities yesterday so I thought i would cross check him with the other financial planner and the forum experts too!! Annuities pay the highest commissions of any products, there is a reason for that. If a CFP is pushing an annuity fire him. |
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Post by OhMy on Oct 30, 2024 12:33:57 GMT -5
Thank you. I just bought SPY this morning. I already own a bunch of QQQ. My certified financial planner said something similar and said the fees are also expensive. I guess I will avoid those. I have 2 CFP advisors and one was discussing annuities yesterday so I thought i would cross check him with the other financial planner and the forum experts too!! Annuities pay the highest commissions of any products, there is a reason for that. If a CFP is pushing an annuity fire him. Thanks. This CFP pushing the annuity was from Fidelity and he was trying to drum up some business. I only pay one CFP from Schwab but Fidelity CFP have been calling me for a year or more. He technically was not "pushing it", he was making suggestions where I could invest some of the cash. Once I emailed my paid CFP / CFA and asked him his thoughts, he shut it down like you are doing as well. Thank you for your help. |
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Post by madm002 on Oct 31, 2024 13:15:19 GMT -5
Stock market today = ouch
Laying on dirty linoleum floor drinking cheap scotch
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Post by PolarsStepdad on Oct 31, 2024 13:21:02 GMT -5
Stock market today = ouch Laying on dirty linoleum floor drinking cheap scotch Mine isn't terrible. Not real good either. But not terrible |
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Post by ferris1248 on Oct 31, 2024 15:43:20 GMT -5
Annuities have a place in a diversified portfolio. I've got 2. One is a five year, 5.8%, non callable. At renewal it rolls to whatever they are paying at the time. However I have the option of principle and interest withdrawal at that time. No penalty. It is a jumbo. It is not compounded as interest isn't paid until maturity.
The other is a 2 year at 5.4%. It is callable and I can also withdraw at maturity. It is not a jumbo. Interest is compounded.
For me, I have no interest in being tied up in a life long annuity.
Edit: The 5 year is compounded. I just don't get the interest till maturity.
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Post by madm002 on Nov 1, 2024 8:24:59 GMT -5
Annuities have a place in a diversified portfolio. I've got 2. One is a five year, 5.8%, non callable. At renewal it rolls to whatever they are paying at the time. However I have the option of principle and interest withdrawal at that time. No penalty. It is a jumbo. It is not compounded as interest isn't paid until maturity. The other is a 2 year at 5.4%. It is callable and I can also withdraw at maturity. It is not a jumbo. Interest is compounded. For me, I have no interest in being tied up in a life long annuity. If someone offers you one, take a look at the surrender value in the first 4 years.......... |
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Post by ferris1248 on Nov 5, 2024 17:35:16 GMT -5
An interesting day. Almost like the market isn't concerned who wins.
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Post by whitebacon on Nov 5, 2024 18:00:01 GMT -5
An interesting day. Almost like the market isn't concerned who wins. Or, they are totally convinced who will win........if it's fair. Big if. |
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Post by johngalt on Nov 6, 2024 6:07:35 GMT -5
Anyone noticed the market futures this morning??
At 0500 CT the Dow futures are up1213.00. And climbing,br]I wonder why???🤔🤔🤔🤔🤔🤔
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Post by johngalt on Nov 6, 2024 8:42:47 GMT -5
Just imagine where you would be today if you invested in Bitcoin ten years ago.
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Post by ferris1248 on Nov 6, 2024 8:50:01 GMT -5
Just imagine where you would be today if you invested in Bitcoin ten years ago. Probably would of died from a heart attack with all it's ups and downs.  Time will tell if bitcoin sticks to it's original premise of having a lid on the number manufactured. There's money to be made if you're not faint of heart. |
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Post by madm002 on Nov 6, 2024 9:15:35 GMT -5
Just imagine where you would be today if you invested in Bitcoin ten years ago. Probably would of died from a heart attack with all it's ups and downs. Time will tell if bitcoin sticks to it's original premise of having a lid on the number manufactured. There's money to be made if you're not faint of heart.
I dont know, was thinking about just putting like 3% of the portfolio in it if it ever falls. I think it is more young persons game, who can ride it out over the long term |
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Post by ferris1248 on Nov 6, 2024 9:57:46 GMT -5
It's interesting to watch the different sectors this morning.
I think it will hold up through the close. Maybe some profit off the table by week's end.
How's the bond market nuevo?
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Post by ferris1248 on Nov 6, 2024 10:20:41 GMT -5
Looking at the banking sector, I wonder how future bank deregulaion will proceed? The big banks are sitting on piles of cash. Does this make regionals and smaller banks more attractive for takeover? "Banks have been pushing all year to loosen capital requirements. They are also expected to benefit from potential tax cuts, as well as the market rally that set in after Trump was declared the winner, with stock futures rallying, the dollar surging and Treasury yields jumping." “Markets seem to have accepted that another Trump term would mean a supportive and expansionary fiscal policy, which could positively impact growth in the US,” said Daniela Sabin Hathorn, senior market analyst at Capital.com. “This is evident in the bullish reaction in equities, especially those largely influenced by the domestic economy.” "Discover Financial Services led S&P 500 gainers, up 11.9%. Capital One Financial Corp. was up 10.2%, Synchrony Financial was up 10.4% and Citizens Financial Group Inc. was up 9%." "Wells Fargo & Co. was up 9.3%, KeyCorp was up 8.6% and PNC Financial Services Group Inc. was up 8.4%." "Among the big money center banks, Citigroup Inc. was up 8%, Goldman Sachs Group Inc. was up 8% and Bank of America Corp. was up 7.7%." "JPMorgan Chase & Co. Inc. was up 6.8% and Morgan Stanley was up 7%." "The Financial Select Sector SPDR exchange-traded fund was up 5% and the iShares U.S. Regional Banks ETF was up 11%. The Invesco KBW Regional Banking ETF was up 4%." www.msn.com/en-us/money/markets/bank-stocks-soar-as-trump-victory-expected-to-lead-to-looser-regulatory-backdrop/ar-AA1tBVWB?ocid=msedgdhp&pc=u531&cvid=672121e6881144cfdf5c142dc0c94a4c&ei=59 |
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Post by OhMy on Nov 6, 2024 11:37:00 GMT -5
Dow up 1300 right now.
Sweet!
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Post by whitebacon on Nov 6, 2024 11:49:54 GMT -5
Dow up 1300 right now. Sweet! Yay team!! |
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Post by madm002 on Nov 7, 2024 17:30:05 GMT -5
The last two days have been breathtaking.
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