Author Topic: OMG I'm in a free form f'ing panic because the market is TANKING!  (Read 42404 times)

dragoncar

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #50 on: October 08, 2014, 04:23:29 PM »

As far as I can tell, "technical analysis" is the practice of looking very carefully at stock price graphs to try to recognize patterns in the movements of the price over the course of a (day, week, month) and use those patterns to guess what will happen to the price in the near future. It seems to be about as scientifically valid as staring at tea leaves. Yet there are lots of programs designed to help technical analysis enthusiasts discover these patterns by drawing lines and curves all over the price history graph.

The amazing thing is you DO see some of the TA stuff work out -- like the price "bouncing off" support or a moving average.  I guess it's true simply because it's part of investor psychology and people act accordingly.  But obviously I don't think it has very much predictive value.

secondcor521

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Bytowner

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #53 on: October 09, 2014, 06:57:26 AM »
Cramer's latest stock tip: Increase speed, drop down, and reverse direction!

...and always twirling, twirling, twirling towards freedom!

Eric

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #54 on: October 09, 2014, 11:18:37 AM »
I feel like I'm at Cedar Point.

Scandium

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #55 on: October 09, 2014, 11:50:32 AM »
Having mainly invested since 2009 I'm enjoying this chance to test my resilience to losses.  My taxable account is now officially down by over $1000! I still haven't sold. Shouldn't I be wanting to sell now? I don't think I'm doing this right..

I also wouldn't mind a larger downturn letting me put more in at lower prices. From what I can see this is pretty pathetic as far as "corrections" go.

Cheddar Stacker

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #56 on: October 09, 2014, 12:02:00 PM »
It has been a strange few days though right? Down 1.5%. Up 1.5%. Down 1.5%. Smells funny.

I'm with you though Scandium. I'm still accumulating, and now that I have serious money in the market I'm curious to see how I will react to a large drop.

RapmasterD

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #57 on: October 09, 2014, 12:04:39 PM »

As far as I can tell, "technical analysis" is the practice of looking very carefully at stock price graphs to try to recognize patterns in the movements of the price over the course of a (day, week, month) and use those patterns to guess what will happen to the price in the near future. It seems to be about as scientifically valid as staring at tea leaves. Yet there are lots of programs designed to help technical analysis enthusiasts discover these patterns by drawing lines and curves all over the price history graph.

The amazing thing is you DO see some of the TA stuff work out -- like the price "bouncing off" support or a moving average.  I guess it's true simply because it's part of investor psychology and people act accordingly.  But obviously I don't think it has very much predictive value.

I've changed my perspective on this one. I think TA is more meaningful than FA. And I use TA as a very blunt butter knife indicator of when to get in and when to get out of 'the market.' I don't escape some losses, and I miss out on some gains. But all in all it works pretty well for me. FYI my super secret hyperbolic indicators don't inform me that we're even CLOSE to a selling point. And I'm gonna "lose" (triple underline the bogusness of that one) a shit lot more than $1,000 today.

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #58 on: October 09, 2014, 02:32:49 PM »
I'm with you though Scandium. I'm still accumulating, and now that I have serious money in the market I'm curious to see how I will react to a large drop.

I also have serious money in the market and am still accumulating, so I'm strongly rooting for a major correction to happen now rather than after I FIRE.

Gone Fishing

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #59 on: October 09, 2014, 02:44:53 PM »
I'm with you though Scandium. I'm still accumulating, and now that I have serious money in the market I'm curious to see how I will react to a large drop.

I also have serious money in the market and am still accumulating, so I'm strongly rooting for a major correction to happen now rather than after I FIRE.

Yep, I'm also hoping we can clense the system sooner rather than later.

Frankies Girl

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #60 on: October 09, 2014, 02:51:51 PM »
I'm with you though Scandium. I'm still accumulating, and now that I have serious money in the market I'm curious to see how I will react to a large drop.

I also have serious money in the market and am still accumulating, so I'm strongly rooting for a major correction to happen now rather than after I FIRE.

+1

I'm down about 30k and hoping this is the correction or crash now, since I am planning to RE next year! And no not panicking about the "on paper" losses either...

geekette

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #61 on: October 09, 2014, 09:19:10 PM »
C'mon, now - y'all just quit wishing on a crash...some of us are in our first year of FIRE.  Sequence of returns and all that. 

At least we have a few years of cash sitting around, so no panicking or selling for us either. 

milesdividendmd

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #62 on: October 09, 2014, 10:54:56 PM »

I am a little bummed. I saved like $20K last quarter and I'm ending up even. Boo. Not gonna do anything stupid like sell, but never fun to see account balance going down. It hasn't happened in years so I'm not used to it.

Nice Brooklyn.

I feel the same way. It's not rational, but I believe that honestly dealing with reality as we actually experience is helpful in avoiding the behavioral errors that we are hard wired to commit.

The truth (as you know) is that for young investors bear markets are a blessing. But then most young investors also have parents who are invested so it is always a mixed blessing when assets lose value, and experientially it feels like a failure.

Here is a nice apropos quote from Buffet to lighten your mood.

"To refer to a personal taste of mine, I’m going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the ‘Hallelujah Chorus’ in the Buffett household. When hamburgers go up in price, we weep. For most people, it’s the same with everything in life they will be buying — except stocks. When stocks go down and you can get more for your money, people don’t like them anymore.”

dodojojo

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #63 on: October 09, 2014, 11:20:54 PM »
The checks were delivered yesterday morning but checking my account, Fidelity didn't rollover my dough.  I was told they pretty much process the rollover upon receipt of checks and forms.  Maybe it will happen today or Monday?  Hopefully there isn't an issue or holdup.  I had enough of that trying to get my money out of TIAA-CREF.

I for one, do not want the market to go up today or Monday. 

MikeBear

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #64 on: October 10, 2014, 03:25:41 AM »
The checks were delivered yesterday morning but checking my account, Fidelity didn't rollover my dough.  I was told they pretty much process the rollover upon receipt of checks and forms.  Maybe it will happen today or Monday?  Hopefully there isn't an issue or holdup.  I had enough of that trying to get my money out of TIAA-CREF.

I for one, do not want the market to go up today or Monday.

Sorry, It went down yesterday, so that means it's likely going back up again today.

2Birds1Stone

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #65 on: October 10, 2014, 06:19:16 AM »
Futures point at another 1-2% drop today. Global slow down and deflation are a real thought now.

frugalecon

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #66 on: October 10, 2014, 06:35:40 AM »
Futures point at another 1-2% drop today. Global slow down and deflation are a real thought now.

Today is payday, so I would prefer it is down today rather than up...

Cheddar Stacker

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #67 on: October 10, 2014, 07:25:36 AM »
The checks were delivered yesterday morning but checking my account, Fidelity didn't rollover my dough.  I was told they pretty much process the rollover upon receipt of checks and forms.  Maybe it will happen today or Monday?  Hopefully there isn't an issue or holdup.  I had enough of that trying to get my money out of TIAA-CREF.

I for one, do not want the market to go up today or Monday.

I'm in the same boat. Large in-service distribution to an IRA. Funds left 401k yesterday, haven't been deposited into IRA yet. Hopefully if they are idle for a day or two it's not a 2% run up while they are essentialy cash. Worse things could happen though I guess.

Timmmy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #68 on: October 10, 2014, 07:28:27 AM »
I think it's hilarious that this has turned in to a semi-serious conversation. 

Scandium

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #69 on: October 10, 2014, 08:30:46 AM »
dang! another ~1% drop in both domestic and international. The international ETF i put a large sum into in the summer is down over 10% now

Middlesbrough

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #70 on: October 10, 2014, 08:58:50 AM »
Stay down market! More cash is coming on payday. Down boy!

sirdoug007

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #71 on: October 10, 2014, 09:57:38 AM »
Can anyone remember what percentage move the market made 10 years ago today?

That's because it doesn't matter one bit to FIRE which is a long term strategy.

Forget about the static in the market.  It simply does not matter for anyone but the day traders.

iris lily

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #72 on: October 10, 2014, 10:08:24 AM »
I think it's hilarious that this has turned in to a semi-serious conversation.

...and where they are talking about the daily market. A serious discussion on the daily ups and down of the market is a recipe for making yourself crazy.

I pulled a bunch of money out of the market last fall. That means I didn't make money on the upswing of the past 12 months. On any given day, when I think about that in relation to what the market is doing on that particular day, I am either happy or unhappy.

That's why I generally don't think about The Market, I don't let it occupy space in my head. There is no point.

Eric

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #73 on: October 10, 2014, 10:20:12 AM »
Here's a serious question for you market followers:

I'm approximately 6 years from FIRE.  I normally make regular contributions to my taxable account twice a month.  However, I've currently suspended those contributions with an eye on saving $11K to fully fund my/our Roths on January 1st.  But watching this market drop, it makes me want to abandon this strategy and just buy in right now and fund the Roths at some later date in 2015.

I'm waffling back and forth on this.  On one hand, I could actually use the lower price in my taxable accounts as I'll want to access that money in 6-10 years so the higher profit potential is alluring.  My access to the money going into my Roths is limited to only to my contributions of $11K.  So no matter if I fund it on 1/1 or 12/31,  I can't access the gains for another 20 years so it matters less trying to get the lowest price and/or fully funded at the earliest possible time.

On the other hand, I shouldn't worry about this at all, and just fund my Roths on January 1st and be happy in 20 years for the tax free bucks.  In fact on January 1, they could easily be lower than today and I'd end up coming out ahead anyway (albeit a decade further down the road).

Any thoughts?

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #74 on: October 10, 2014, 10:33:44 AM »
I'm in the same boat. Large in-service distribution to an IRA. Funds left 401k yesterday, haven't been deposited into IRA yet. Hopefully if they are idle for a day or two it's not a 2% run up while they are essentialy cash. Worse things could happen though I guess.

I sympathize with people in this situation.  The last time I switched jobs, my 401(k)-to-IRA distribution had to be done via paper check and snail mail, forcing me to assume the risk of market volatility for a few weeks on a huge chunk of change.

Even if it only took a single day for the transfer to settle, yesterday's 2% drop could instantly vaporize half a year's worth of living money or more for someone who was unlucky enough to have just transferred their entire stash in this way.

eyePod

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #75 on: October 10, 2014, 10:37:42 AM »
The only time I know there's a market drop is cause someone posts on the MMM forum about it.

Are that many of you constantly checking on the market's performance?  If so... why?

Because mom calls asking if she should take out her entire IRA...every time the market farts. 
Next time I'm sending her Dragoncar's graph.  That will stump her for a while....

LMAO 4% dip, DEAR GOD IT'S ALL OVER.

Scandium

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #76 on: October 10, 2014, 10:38:27 AM »
Can anyone remember what percentage move the market made 10 years ago today?

That's because it doesn't matter one bit to FIRE which is a long term strategy.

Forget about the static in the market.  It simply does not matter for anyone but the day traders.
No I don't really care what the market does daily, but it has been generally going down now for several weeks. If it keeps dropping I'll consider taking some cash from my too large emergency fund to my investments. I like having a healthy savings accounts so haven't touched it, but it is a bit too much and with large drop I'd be willing to move some over. Market timing? Sure, I guess.

NP

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #77 on: October 10, 2014, 10:39:19 AM »
Hi Eric,

I cannot comment on what you should do with your Roth accounts, but here are my two cents about the current market:

When you look at the big picture this last drop is still quite small. Why would you make a rash decision and abandon your plans for something that so far hasn't been a big event? If it turns out to be a small correction and prices quickly recover, you won't have missed a huge opportunity. If it turns out to be a major correction, there'll be even better market conditions to take advantage of a bit later.

It's not market timing that I'm advocating here, quite on the contrary: If you think you'd like to do a little market timing (as it seems to be the case), why not wait for conditions that are very obviously favorable? Why not revisit this question right before you're ready to contribute to your Roth accounts, or if you see a really big market correction, whichever happens first?

Scandium

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #78 on: October 10, 2014, 10:43:58 AM »
Here's a serious question for you market followers:

I'm approximately 6 years from FIRE.  I normally make regular contributions to my taxable account twice a month.  However, I've currently suspended those contributions with an eye on saving $11K to fully fund my/our Roths on January 1st.  But watching this market drop, it makes me want to abandon this strategy and just buy in right now and fund the Roths at some later date in 2015.

I'm waffling back and forth on this.  On one hand, I could actually use the lower price in my taxable accounts as I'll want to access that money in 6-10 years so the higher profit potential is alluring.  My access to the money going into my Roths is limited to only to my contributions of $11K.  So no matter if I fund it on 1/1 or 12/31,  I can't access the gains for another 20 years so it matters less trying to get the lowest price and/or fully funded at the earliest possible time.

On the other hand, I shouldn't worry about this at all, and just fund my Roths on January 1st and be happy in 20 years for the tax free bucks.  In fact on January 1, they could easily be lower than today and I'd end up coming out ahead anyway (albeit a decade further down the road).

Any thoughts?
Obviously impossible to know, but I'd agree that you have "more" time on your side with the Roth. Whether you fund it in a januray or july shouldn't make a huge difference in 20-30 years.
Then again you might put that money into taxable now and then it drops 30 % next week.. Market timing is fun!

I usually put in money I have now, and figure I'll probably find the cash to fund those other accounts when I need to.

eyePod

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #79 on: October 10, 2014, 10:45:48 AM »
On the other hand, I shouldn't worry about this at all, and just fund my Roths on January 1st and be happy in 20 years for the tax free bucks.  In fact on January 1, they could easily be lower than today and I'd end up coming out ahead anyway (albeit a decade further down the road).

Any thoughts?

I highlighted the important part of your post where you answered your own question. You shouldn't be asking random people on the internet whether the stock market and tax situation will be the same 6 years from now. What's in your control? Spending! Minimize that and you'll be fine.

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #80 on: October 10, 2014, 10:48:22 AM »
Eric, I don't see how this strategy makes sense.  By deferring investments now in order to front-load next year, you're just trading the volatility risk now for volatility risk next year.  As you said, you could end up worse off or better off, depending on what the market does.

Cheddar Stacker

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #81 on: October 10, 2014, 10:52:59 AM »
On the other hand, I shouldn't worry about this at all, and just fund my Roths on January 1st and be happy in 20 years for the tax free bucks.  In fact on January 1, they could easily be lower than today and I'd end up coming out ahead anyway (albeit a decade further down the road).

Any thoughts?

I highlighted the important part of your post where you answered your own question. You shouldn't be asking random people on the internet whether the stock market and tax situation will be the same 6 years from now. What's in your control? Spending! Minimize that and you'll be fine.

I agree to an extent eyePod, but aren't we all trying to optimize here? I think that's what Eric is going for. So the question remains in my opinion.

Which is better for a young, aspiring FIREman:
Buying a dip in a taxable account? or
Buying a dip in a Roth?

I vote taxable provided you hold that purchase and harvest the gains after your income drops. But they're both good options.

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #82 on: October 10, 2014, 11:09:37 AM »
Cheddar, how do you know he will be buying a dip in January?  Since we don't know how the market will perform in the future, the question is really whether it's better to defer taxable investments for the remainder of this year in order to front-load the Roth next year.  In my view, the answer is no.

Cheddar Stacker

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #83 on: October 10, 2014, 11:24:45 AM »
Cheddar, how do you know he will be buying a dip in January?  Since we don't know how the market will perform in the future, the question is really whether it's better to defer taxable investments for the remainder of this year in order to front-load the Roth next year.  In my view, the answer is no.

I don't and no one does, but that's not what I understood Eric to be asking. Maybe I'm interpreting it wrong, but here's my thought process:

What I got from it is it doesn't matter when he funds the Roth, he can only access the $11K for the next 20 years and none of the gains. So if he funds the Roth on 1/1, he can't buy a dip in his taxable account today. If he funds the Roth later in the year, he pays the opportunity cost of not frontloading. If you believe in not timing the market, you essentially believe in getting your money in right away to capture potential gains. I take that to mean you are always assuming/hoping/guestimating the market will be higher later in the year. So buying on 1/1 is always buying the dip, since it will always go up.

I realize it will not always go up, but that's the general thought behind frontloading right?? Get it in now so you can capture the gains??

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #84 on: October 10, 2014, 11:32:09 AM »
Ok I see what you mean.  That's exactly the point I was trying to make in my earlier comment about trading next year's risk for this year's.  Basically, deferring this year's taxable investments in order to fund the Roth in full on 1/1 is opting not to front-load now in order to front-load later.  I don't see how it makes any sense to do that, unless you are making predictions about where the market is headed (but since the whole rationale behind front-loading is that it's better to get your money in ASAP since the market always moves up in general, I don't see how the deferral strategy makes any sense).
« Last Edit: October 10, 2014, 11:34:01 AM by brooklynguy »

Ftao93

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #85 on: October 10, 2014, 11:41:07 AM »
What's got me pissed off about it, is it crashes big every other week lately, and unfortunately for me, it's been pretty much on the same day my deductions from my pay check go into my 401k.

So, it immediately steals pretty much all the money I've been putting into it for 3 pay periods now. I've been thinking about getting my boss to move payroll to the opposite week, lol. At least that way I'd get a little ride for my money...

That keeps happening to me, too.

Oh well.  I keep reminding myself I am buying SHARES, so the current value doesn't matter until I actually go to sell them off in bits ages from now.

Eric

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #86 on: October 10, 2014, 11:59:53 AM »
Cheddar, how do you know he will be buying a dip in January?  Since we don't know how the market will perform in the future, the question is really whether it's better to defer taxable investments for the remainder of this year in order to front-load the Roth next year.  In my view, the answer is no.

I don't and no one does, but that's not what I understood Eric to be asking. Maybe I'm interpreting it wrong, but here's my thought process:

What I got from it is it doesn't matter when he funds the Roth, he can only access the $11K for the next 20 years and none of the gains. So if he funds the Roth on 1/1, he can't buy a dip in his taxable account today. If he funds the Roth later in the year, he pays the opportunity cost of not frontloading. If you believe in not timing the market, you essentially believe in getting your money in right away to capture potential gains. I take that to mean you are always assuming/hoping/guestimating the market will be higher later in the year. So buying on 1/1 is always buying the dip, since it will always go up.

I realize it will not always go up, but that's the general thought behind frontloading right?? Get it in now so you can capture the gains??

You got it.  I'm now questioning the timing of adding $11k to the Roth on 1/1 because no matter when I add it during the year, I'll only have access to $11k and it's going to be a long time before the gains are accessed.  Twice as long or longer than if I add to my taxable.  I originally thought that frontloading the Roth was the best strategy, in a similar thought process to this MadFientist post.

http://www.madfientist.com/front-loading/

Eric

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #87 on: October 10, 2014, 12:00:19 PM »
On the other hand, I shouldn't worry about this at all, and just fund my Roths on January 1st and be happy in 20 years for the tax free bucks.  In fact on January 1, they could easily be lower than today and I'd end up coming out ahead anyway (albeit a decade further down the road).

Any thoughts?

I highlighted the important part of your post where you answered your own question. You shouldn't be asking random people on the internet whether the stock market and tax situation will be the same 6 years from now. What's in your control? Spending! Minimize that and you'll be fine.

Psshaw!  Random internet people rule!

gimp

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #88 on: October 10, 2014, 12:36:18 PM »
Dow was down 300 yesterday so I threw spare change into vanguard. Yay!

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #89 on: October 10, 2014, 12:43:48 PM »
Cheddar, how do you know he will be buying a dip in January?  Since we don't know how the market will perform in the future, the question is really whether it's better to defer taxable investments for the remainder of this year in order to front-load the Roth next year.  In my view, the answer is no.

I don't and no one does, but that's not what I understood Eric to be asking. Maybe I'm interpreting it wrong, but here's my thought process:

What I got from it is it doesn't matter when he funds the Roth, he can only access the $11K for the next 20 years and none of the gains. So if he funds the Roth on 1/1, he can't buy a dip in his taxable account today. If he funds the Roth later in the year, he pays the opportunity cost of not frontloading. If you believe in not timing the market, you essentially believe in getting your money in right away to capture potential gains. I take that to mean you are always assuming/hoping/guestimating the market will be higher later in the year. So buying on 1/1 is always buying the dip, since it will always go up.

I realize it will not always go up, but that's the general thought behind frontloading right?? Get it in now so you can capture the gains??

You got it.  I'm now questioning the timing of adding $11k to the Roth on 1/1 because no matter when I add it during the year, I'll only have access to $11k and it's going to be a long time before the gains are accessed.  Twice as long or longer than if I add to my taxable.  I originally thought that frontloading the Roth was the best strategy, in a similar thought process to this MadFientist post.

http://www.madfientist.com/front-loading/

I opened my very first Roth with Vanguard on September 5th this year. I put in $6,500, and it's already down almost $400 since then.

I'm still happy I managed to scrape together the money to open one. I also am cramming the entire $23,000 into my 401k this year.

NONE of this would have happened, if it wasn't for my discovering Mr. Money Mustache in February, and getting a Chuck Norris style WAKE-UP! kick in the face. 

So, take that for what it's worth. NO time like today to get a new account going for you...
« Last Edit: October 10, 2014, 12:45:32 PM by MikeBear »

massmustache

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #90 on: October 10, 2014, 12:48:10 PM »
I dropped 10k I had stupidly been storing in my checking account for 3 months (been very busy few months) into Vanguard.  Not usually one to drop large sums at a time... but timing wasn't bad I guess (who friggen knows)...

Le Barbu

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #91 on: October 10, 2014, 12:55:28 PM »
I manage to transfert some short term canadian government bonds into stock market next week (oct. 15th)

...some 93k$

Eric

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #92 on: October 10, 2014, 01:10:06 PM »
I opened my very first Roth with Vanguard on September 5th this year. I put in $6,500, and it's already down almost $400 since then.

I'm still happy I managed to scrape together the money to open one. I also am cramming the entire $23,000 into my 401k this year.

NONE of this would have happened, if it wasn't for my discovering Mr. Money Mustache in February, and getting a Chuck Norris style WAKE-UP! kick in the face. 

So, take that for what it's worth. NO time like today to get a new account going for you...

Congrats Mike!  That's nice work.  For clarification, it's not a new account for me.  My 2014 Roths were already fully funded on 1/1/14.  I'm looking to the 2015 funding.

lemanfan

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #93 on: October 10, 2014, 01:14:29 PM »
For the traders here, a tip.

There is a book called Reminiscences of a Stock Operator released in 1923 which is bascially the auto-biography of a daytrader and stock speculator from a century ago.  It is a quite interesting read, where you can recognize many things from today.  The full book in PDF form is available a web search away... :)

GardenFun

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #94 on: October 10, 2014, 01:22:43 PM »
The only time I know there's a market drop is cause someone posts on the MMM forum about it.

Are that many of you constantly checking on the market's performance?  If so... why?

Because mom calls asking if she should take out her entire IRA...every time the market farts. 
Next time I'm sending her Dragoncar's graph.  That will stump her for a while....

LMAO 4% dip, DEAR GOD IT'S ALL OVER.

Yeah....my phone is turned off....and I'm washing my hair......

Scandium

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #95 on: October 10, 2014, 02:11:26 PM »
For the traders here, a tip.

There is a book called Reminiscences of a Stock Operator released in 1923 which is bascially the auto-biography of a daytrader and stock speculator from a century ago.  It is a quite interesting read, where you can recognize many things from today.  The full book in PDF form is available a web search away... :)
Not sure I'd call us traders when we're only taking about putting more money in, and when. And as usual the answer is: yesterday.

brooklynguy

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #96 on: October 10, 2014, 02:13:53 PM »
You got it.  I'm now questioning the timing of adding $11k to the Roth on 1/1 because no matter when I add it during the year, I'll only have access to $11k and it's going to be a long time before the gains are accessed.  Twice as long or longer than if I add to my taxable.  I originally thought that frontloading the Roth was the best strategy, in a similar thought process to this MadFientist post.

http://www.madfientist.com/front-loading/

The problem is that in order to front-load your Roth you are back-loading your taxable account, so it doesn't make sense to do it.

dodojojo

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #97 on: October 10, 2014, 04:38:56 PM »
Found my rollover money in Fidelity this morning.  I assume I got yesterday's closing prices.

surfhb

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #98 on: October 10, 2014, 04:43:44 PM »
It's common knowledge that that market will eventually tank much more then it has recently.     Why are some of you freaking out?   Plan accordingly......Were in the best bull market in history.....embrace it. Jeesh!

2Birds1Stone

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Re: OMG I'm in a free form f'ing panic because the market is TANKING!
« Reply #99 on: October 10, 2014, 05:57:32 PM »
Wish I was wrong this morning LOL