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Old 02-09-2015, 11:23 PM   #41
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Just thinking about this...
So if you are a business as a "trader", then why not set up a 401k to defer those gains??

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Old 02-10-2015, 06:09 AM   #42
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I have a trading account I started around 1990 with $5K. Due to my extreme skill at picking which decade to start investing in I built that up to over $70K currently. Buying AAPL at a split adjusted $.75 helped too. I've bought and sold things off and on, sometimes making multiple changes in a week, other times not touching it for years. It's for fun money, or as Uncle Mick says, keeping the testosterone under control.

The past couple of years I've been selling all the stocks as best I can to not impact my taxes too much, and have set aside a Roth account to replace the taxable account. This will allow me to do any trading I want to without having to worry about short term CGs or any other tax implications. I've managed to sell about half the taxable stocks (thank you 0% CGs and tax loss harvesting). Most of the other half is in BRK.b, and my taxable income has increased, so I can't figure out how to sell now without a tax hit.

However, I've yet to buy a single stock in the Roth. My life has been real busy these past few years, plus I sort of think the market in general is priced pretty high. But that's why it's a play account. If I don't play for a few years, no harm, no foul. Eventually something (oil?) will call to me and I'll make a purchase and start again.

Edit: I forgot, that $70K is what's left after funding DD's Roth for 5 years. So closer to $100K. The '90s rocked!

"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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