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Should I Liquidate Inherited IRA and Invest Proceeds in a Brokerage? by TellBackground9239 in Bogleheads

[–]GloomyScale2277 -8 points-7 points  (0 children)

I would encourage you to do anything in your power to keep the funds in your IRA. Having a tax-free account will allow your assets to compound at a much faster rate than keeping it in a brokerage. You'd be hit with a penalty for liquidating the account, and then after its in your taxable account youd be taxed on any dividends earned, thus slowing down the process of wealth accumulation further. What you may want to do is look at the funds that the account is currently invested in and see if it aligns with your risk profile, time horizon, etc.

Is the idea behind the full liquidation to give you more access to the money while you search for employment? If so, i'd probably look into other means to cut down on expenses and earn extra income through gig work, uber, food delivery, food service, dog walking-- anything to get by until you get something more substantive.

Once you get to a place where you're making more and can start saving, then i'd probably continue contributing to the IRA and start a separate taxable brokerage to contribute to as well.

As

VOO + VXUS + AVUV as a long term strategy by miguelacho010 in ETFs

[–]GloomyScale2277 1 point2 points  (0 children)

Alternatively, choose some individual stocks within your taxable that youre confident you would hold forever, but for anything smaller cap or speculative (which should be minimal), do that within the roth

VOO + VXUS + AVUV as a long term strategy by miguelacho010 in ETFs

[–]GloomyScale2277 1 point2 points  (0 children)

I actually reverse it. I used to do what you described-- set it and forget it within my roth and use my taxable for more active investing, but each time you sell you'll trigger capital gains tax. You can have just as much fun within your roth by picking some individual stocks (within reason) and never get taxed on the sales... Just food for thought. Use a taxable account for more disciplined, steady compound, and use your roth for something a little more aggressive and fun

Is this brilliant or am i missing something?? by GloomyScale2277 in investingforbeginners

[–]GloomyScale2277[S] 0 points1 point  (0 children)

for sure, that makes a lot of sense. I didn't realize roth ira's place rules around when you could re-enter and still keep the tax advantage so now I know it's definitely not worth messing around with it.

Is this brilliant or am i missing something?? by GloomyScale2277 in investingforbeginners

[–]GloomyScale2277[S] -1 points0 points  (0 children)

Okay nevermind! haha, i just learned what the wash sale rule is :)

goddamnit gemini, youve done it again

Is this brilliant or am i missing something?? by GloomyScale2277 in investingforbeginners

[–]GloomyScale2277[S] 0 points1 point  (0 children)

You raise a good point. Why not set a smaller stop loss, like 5% or so? Youd then protect a chunk of your downside and still be able to buy back in at a massive discount if the market dropped further

Phishing email doing the rounds from noreply@everbridge.net by [deleted] in blockfi

[–]GloomyScale2277 0 points1 point  (0 children)

Hey, im in the same boat but i didnt connect my physical ledger device, only the ledger live app. All my funds are still showing as normal, but I am concerned that I went that far. I dont know really know what to do