User Panel
Posted: 3/28/2024 6:12:13 PM EDT
Got about 10k coming my way in tax returns
Do I dump into high yield savings (4.5%) Do I roll the dice and just dump it all into the market? I’m shocked the market it doing this well, I’m reluctant to dump money before it slumps. I feel like the fed is going to cut rates which might inflate the market IDK option 4 Buy ammo |
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If you’ve got a comfortable emergency fund set up then invest it. If your emergency fund is lacking then put it in savings. Or, ignore what I said and put it towards hookers and blow.
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Send it to Fidelity it’ll earn 5% until you feel like buying into the market.
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MM and then $1k a month into VOO until the MM is empty if you're nervous about possibly buying the peak.
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Quoted: If you’ve got a comfortable emergency fund set up then invest it. If your emergency fund is lacking then put it in savings. Or, ignore what I said and put it towards hookers and blow. View Quote emergency funds are largely retarded. Sure have a couple grand extra hanging out but if you have an emergency just put it on a credit card and get your cash back. If you really need to you can pull money out of your brokerage easy enough. The likelihood that we have such a huge market crash that your vanilla sp500 index fund tanks too hard to pay for a new water heater or ac or something is so small as to not even be relevant. Granted if you really think the market is inflated right now it could be a good idea to hold the money in your money market/cash settlement fund which would get about the same 5% but you could also go ahead and set some limit orders for whatever you think the market will drop to. in essence getting both. |
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You already paid taxes on it and loaned it to the government for a year.
Fund a Roth, limit is $7k or $8k if over 50 in 2024 |
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I got a life insurance settlement and put it in a Cap1 savings account @ 4.35% interest. If it goes below 4%, I will likely dump it into the market, depending.
Honestly, I was set on blowing it (not on hookers and blow), but my financial maturity (I'm frugal) prevented me from doing so (I'm a pussy), so I figured I would at least earn some interest until I find something (grow some balls) that I want to buy (not hookers and blow.) |
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Quoted: emergency funds are largely retarded. Sure have a couple grand extra hanging out but if you have an emergency just put it on a credit card and get your cash back. If you really need to you can pull money out of your brokerage easy enough. The likelihood that we have such a huge market crash that your vanilla sp500 index fund tanks too hard to pay for a new water heater or ac or something is so small as to not even be relevant. Granted if you really think the market is inflated right now it could be a good idea to hold the money in your money market/cash settlement fund which would get about the same 5% but you could also go ahead and set some limit orders for whatever you think the market will drop to. in essence getting both. View Quote I don't think a credit card is a replacement for an emergency fund and it's not about the water heater. It's when the economy tanks, companies cut jobs, and credit card companies start cutting limits. I'd much rather be riding out a rough job market with cash than a credit card. |
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Vanguard Money Market (VFMXX) is paying 5.28% until the fed drops rates.
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Let me get this straight. You want to take the little they let
you have back, reinvest into something they can still get their dirty mitts on at a later time. Whatever, I guess keep feeding that sucking sound. |
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View Quote The tax return is what you file. A tax refund is what you get if you're bad with money or don't have a job. I was happy that I owed less than $2,000 this year. Get your money up. |
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Put it into a money market account. I use Fidelity. Incredibly easy to transfer money back and forth between that and your bank account.
Invest at will. All at once, a little at a time, or some up front and then a little at a time. I invest in the S&P 500. I use both IVV(brokerage) and VOO(IRA) Invest for the long term. Open up a Roth if you don't have one. Or if you have already maxed out your retirement accounts, open a Health Savings Account. If you have credit card debt, pay that down first. |
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Quoted: Put it into a money market account. I use Fidelity. Incredibly easy to transfer money back and forth between that and your bank account. Invest at will. All at once, a little at a time, or some up front and then a little at a time. I invest in the S&P 500. I use both IVV(brokerage) and VOO(IRA) Invest for the long term. Open up a Roth if you don't have one. Or if you have already maxed out your retirement accounts, open a Health Savings Account. If you have credit card debt, pay that down first. View Quote This is what I do. |
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My "return" doesn't exist. I'd rather owe a slight amount, knowing that those bastards in Washington aren't borrowing it for zero interest. Instead, I put my money in my investments making a decent amount of money off of it.
The math isn't that hard, people. But, if you want that illogical psychological boost of having Uncle Sam hold on to your yearly allowance, I certainly can't fault you. |
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Long story short, the people relying on a refund every year are doing it wrong.
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I remember I got 10K back a few years ago but I had a 40K medical expense deduction.
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Invest it in something that doesn't fund abortion and the crap that is lending towards the downfall of our country.
Catholic United Financial or Ave Maria offers morally sound investments so your money is clean and doesn't turn into blood money. |
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Quoted: Got about 10k coming my way in tax returns View Quote A tax return is what you file. A tax refund is what you receive. |
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State listing at link
Don't pay state tax on exempt T bills? States with Tax-Exempt Interest from U.S. Debt Obligations |
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Quoted: The tax return is what you file. A tax refund is what you get if you're bad with money or don't have a job. I was happy that I owed less than $2,000 this year. Get your money up. View Quote Fully aware of the difference between a return and a refund, killer. |
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Quoted: Got about 10k coming my way in tax returns Do I dump into high yield savings (4.5%) Do I roll the dice and just dump it all into the market? I’m shocked the market it doing this well, I’m reluctant to dump money before it slumps. I feel like the fed is going to cut rates which might inflate the market IDK option 4 Buy ammo View Quote Also election year, so markets probably going higher. They won't crash it while bidens up for election |
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Quoted: Got about 10k coming my way in tax returns Do I dump into high yield savings (4.5%) Do I roll the dice and just dump it all into the market? I’m shocked the market it doing this well, I’m reluctant to dump money before it slumps. I feel like the fed is going to cut rates which might inflate the market IDK option 4 Buy ammo View Quote 4.5% isn't high yield 5-5.25 is pretty easy to find |
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Dump it into Physical Metals...
Brass, Copper, and lead specifically. |
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Toyota Income Driver notes are paying 5.25%. Easy transfer money in and out, usually one day turnaround. It's where I keep some of my emergency money.
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Quoted: Got about 10k coming my way in tax returns Do I dump into high yield savings (4.5%) Do I roll the dice and just dump it all into the market? I’m shocked the market it doing this well, I’m reluctant to dump money before it slumps. I feel like the fed is going to cut rates which might inflate the market IDK option 4 Buy ammo View Quote @Glock4140 How much ammo do you have? |
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give my wife's LLC $10,000 and I'll give you back $10,500 in 90 days.
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Use the tax refund to pay property tax. That’s how it always ends up for me.
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