|
|
11-16-2019, 01:01 PM
|
#61
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 5,170
|
I saw how it was going up yesterday that I decided to take a small distribution out of my 401K. I'm glad that the market didn't tank by the end of the day!
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
11-16-2019, 01:19 PM
|
#62
|
Recycles dryer sheets
Join Date: Jul 2018
Location: Topanga
Posts: 313
|
Quote:
Originally Posted by NW-Bound
Dow at 28,000. Is that it?
Back in 1999-2000, the following books were published.
Come on, it has been 20 years already. I don't have another 20 years to wait.
|
Or what about this?
Dow 30,000 by 2008! Why it's different this time!
|
|
|
11-16-2019, 01:23 PM
|
#63
|
Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
|
Aim high
|
|
|
11-16-2019, 01:38 PM
|
#64
|
Thinks s/he gets paid by the post
Join Date: Aug 2005
Location: Crownsville
Posts: 3,695
|
This little W- moment has put me just north of the $1.9M mark, a place I was only at for June, July, and August of 2018.
One thing that's a real eye opener, though, is that, since the Christmas Eve 2018 bottom, my investible assets have appreciated by around $431,000. My outstanding mortgage balance is around $468,000. It's kinda wild to think I could almost pay off the mortgage, and it would only put me back to that December low.
And while that December low is an era I'd rather not repeat, when I look back on the overall history of how long I've been investing, it's really just a blip. I first broke $1M back in early 2015, and broke $1.5M in mid 2017, although admittedly, I had an inheritance in there to help with that boost.
Another mind game I like to play with myself is, where would I be if I hadn't bought the house. And, by my estimate, somewhere slightly north of $2.1M, once I add back in the down payment, plus all the mortgage payments I've made since then.
|
|
|
11-16-2019, 02:03 PM
|
#65
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,566
|
The instructions (below) sure sound like prorating to me.
Quote:
Originally Posted by MichaelB
Not sure about MD taxes, but when we moved out of NY investment income was only included in the NY return if it has been paid on days were were physically present in the state. There was no part year prorating of investment income.
|
Complete the Additions to Income area using Instruction 12. If you had losses or adjustments to income on your federal return, write on line 5 those loss or adjustment items, which were realized or paid when you were not a resident of Maryland.
Complete the Subtractions from Income area using Instruction 13. You may include only subtractions from income that apply to income subject to Maryland tax. Include on line 13 any income received during the part of the year when you were not a resident of Maryland.
You must adjust your standard or itemized deductions and exemptions based on the percentage of your income subject to Maryland tax. Complete the Maryland Income Factor Worksheet to figure the percentage of Maryland income to total income. The factor cannot exceed 1 (100%) and cannot be less than zero (0%). If line 1 is 0 or less, the factor is 0. If line 1 is greater than 0 and line 2 is 0 or less, the factor is 1.
If you itemize deductions, complete lines 17a - 17b of Form 502. Prorate the itemized deductions using this formula: Net itemized deductions X Maryland income factor = Maryland itemized deductions. Enter the prorated amount on line 17 of Form 502 and check the Itemized Deduction Method box. Another method of allocating itemized deductions may be allowed. Please send your written request along with your completed Maryland return, a copy of your federal return including Schedule A and a copy of the other state's return. If the other state does not have an income tax, then submit a schedule showing the allocation of income and itemized deductions among the states. The Maryland return must be completed in accordance with the alternative method requested. This request should be sent to the Revenue Administration Division, Taxpayer Accounting Section (Special Allocations), P.O. Box 1829, Annapolis, MD 21404-1829.
If you are not itemizing deductions, you must use the standard deduction. The standard deduction must be prorated using the Maryland income factor. Calculate the standard deduction using the worksheet in Instruction 16 of the tax booklet. Prorate the standard deduction using the following formula: Standard deduction X Maryland income factor = Prorated standard deduction. Enter the prorated amount on line 17 of Form 502 and check the Standard Deduction Method box.
The value of your exemptions (line 19) must be prorated using the Maryland income factor. Use this formula: Total state exemption amount X Maryland income factor = Prorated exemption amount. Enter the prorated exemption amount on line 19 of Form 502.
You must prorate your earned income, poverty level and refundable earned income credits (if you qualify) using the Maryland income factor. See Instruction 26 in the Maryland tax booklet to see how the factor is applied.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
|
|
|
11-17-2019, 09:08 AM
|
#66
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
|
Made me look.
Up to new highs even with the bonehead moves I've made recently. (Moved the main bond holding to shorter duration in 2018, selling equities for next year's cash 3 weeks ago.)
Guess it's better to be lucky than smart.
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
|
|
|
11-17-2019, 09:22 AM
|
#67
|
Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Des Moines
Posts: 1,371
|
Quote:
Originally Posted by W2R
It's hard to believe, but at closing today the Dow is 28,005 and the S&P is at 3,120 . Seems so amazing.
But before you all "poo poo" my excitement, look at your portfolio balance. In my case, my portfolio is at its all time high (again) today. Also it is 145% of what it was when I retired ten years and six days ago, despite living on it. During that time the CPI only went up a little over 16% so most of this gain is real. During most of those ten years I didn't have SS to lean on like I do now, so who knows what the future may bring.
It would have been nice if I had had two cents to rub together when I was younger, or even middle aged. But then, maybe it's just as well since I did learn to LBYM by not having much.
Well, I just wanted to make all of you fine people smile and feel happy.
|
I agree, it is a happy day.
__________________
Retired in 2013 and we are living the dream!
|
|
|
11-17-2019, 09:23 AM
|
#68
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
|
Quote:
Originally Posted by GravitySucks
Made me look.
Up to new highs even with the bonehead moves I've made recently. (Moved the main bond holding to shorter duration in 2018, selling equities for next year's cash 3 weeks ago.)
Guess it's better to be lucky than smart.
|
No, after the run up even as of 3 weeks ago, you were just mitigating risk... so you're a risk mitigator, not a lucky bonehead.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
|
|
|
11-17-2019, 09:30 AM
|
#69
|
Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 1,951
|
If the underlying economy/market is so great, why has the Fed restarted QE?
|
|
|
11-17-2019, 09:35 AM
|
#70
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
|
They are doing it to fix recent problems with the overnight repo market.
https://www.federalreserve.gov/newse...20191011a2.pdf
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
|
|
|
11-17-2019, 10:01 AM
|
#71
|
Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,321
|
Quote:
LOL - the big alarm bell here is the phrase, "It's different this time". It almost never is!
Holymoly. I just looked at my balance, and I'm at 963K! Not a great deal for many here, but it's the most I've ever had. Now, I'm thinking that if I hadn't bought my campervan, I'd have around $985K now, and be within spitting distance of that magic number. Dagnabbit - how dare I spend money on something I was going to enjoy? What was I thinking! All I want is, when I'm living in my van down by the river because my portfolio took a deep dive, that I once had a million dollars - even if I only had it for a day
Of course, it's a bit silly, because the difference in income and portfolio survivability between 1M and what I have now is minimal but, as they say, it's the thought that counts. The thought that I have a cool 1M. OK, I'll stop thinking about money now, but that is part of the point of this forum.............
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
|
|
|
11-17-2019, 10:06 AM
|
#72
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 5,991
|
We are all having a good time laughing and all, but gee I really would be happy if I could avoid a 30% drop by a little market timing.
I sure do wish bonds were paying 6% right now.
|
|
|
11-17-2019, 02:04 PM
|
#73
|
Recycles dryer sheets
Join Date: Aug 2014
Posts: 132
|
Dow over 28,000!
If the underlying economy/market is so great, why has the Fed restarted QE?
+1
__________________
It's not what you earn. It's how you spend it.
|
|
|
11-17-2019, 04:10 PM
|
#74
|
Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,388
|
Not as concerned about a potential drop in the DOW as a I am in the inevitable rise in my age.
Cheers!
|
|
|
11-17-2019, 04:30 PM
|
#75
|
Thinks s/he gets paid by the post
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
|
Two "thanks gods" here:
1) Thank god back in 2008 I didn't know even just enough to be dangerous, so I didn't try to react and catch a falling knife.
2) Thank god that even from the beginning of my IRA/401(K) investing days when I had some really crappy choices and didn't know the differences, I picked target-date-ish funds and didn't mess with them. Sometimes laziness and apathy pays off!
__________________
"Time wounds all heels...." - Groucho Marx
|
|
|
11-17-2019, 05:12 PM
|
#76
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,797
|
It feels really good and that is a bit worrisome (if you are a worrier type).
But then the market is not showing a rising slope over the recent few years like happened in periods like the late 1990's and prior to the 1987 crash and the late 1920's. I don't know what will kill this market but it isn't obvious to me.
I updated my decades chart just a few days ago and here it is. It is getting a little hard to read with the addition of some more decades. Note the blue line for our decade has had a fairly constant slope i.e. fairly constant growth rate over recent years.
FWIW, I bought more stocks a week ago. Make golden hay while the sp500 shines.
|
|
|
11-17-2019, 05:45 PM
|
#77
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Quote:
Originally Posted by Major Tom
LOL - the big alarm bell here is the phrase, "It's different this time". It almost never is!
Holymoly. I just looked at my balance, and I'm at 963K! Not a great deal for many here, but it's the most I've ever had. Now, I'm thinking that if I hadn't bought my campervan, I'd have around $985K now, and be within spitting distance of that magic number. Dagnabbit - how dare I spend money on something I was going to enjoy? What was I thinking! All I want is, when I'm living in my van down by the river because my portfolio took a deep dive, that I once had a million dollars - even if I only had it for a day
Of course, it's a bit silly, because the difference in income and portfolio survivability between 1M and what I have now is minimal but, as they say, it's the thought that counts. The thought that I have a cool 1M. OK, I'll stop thinking about money now, but that is part of the point of this forum.............
|
What you would do is to look at net worth, and you include the RV in that net worth. See, you have not lost any money.
And then, because you have done some work on it, its value is now higher than what you paid for it. You are not that far from that $1M mark.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
11-17-2019, 06:30 PM
|
#78
|
Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,321
|
Quote:
Originally Posted by NW-Bound
And then, because you have done some work on it, its value is now higher than what you paid for it. You are not that far from that $1M mark.
|
Good point - and older Airstreams like mine tend to keep their value. The major depreciation has already happened.
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
|
|
|
11-17-2019, 06:53 PM
|
#79
|
Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Jalisco, Mexico
Posts: 1,738
|
We retired just over two years ago. Since then (8/30) S&P is up 27.7%. Brokerage account is up almost double that due to fairly regular contributions.
|
|
|
11-17-2019, 07:04 PM
|
#80
|
Recycles dryer sheets
Join Date: Mar 2016
Location: SoCal
Posts: 353
|
Make sure you take a screen shot of that 1st 1 mill. I saw my 1st 1M for just one day in January 2018 and did not see it again until July 2019.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
Similar Threads
|
Thread |
Thread Starter |
Forum |
Replies |
Last Post |
Is Dow 13,000 - 15,000 on the horizon at the rate of this plunge?
|
cyber888 |
FIRE and Money |
74 |
12-28-2018 09:17 AM |
$20,000,000,000 in Taxes.
|
mickeyd |
FIRE and Money |
12 |
11-01-2006 04:49 PM |
$423,000,000,000.00
|
Howard |
Other topics |
25 |
02-08-2006 02:59 PM |
$2,000,000,000,000- Happy 55th
|
mickeyd |
Other topics |
12 |
12-28-2004 08:19 AM |
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|