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"Dumb" Questions Thread - Personal Finance

OctoberBlu

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When it comes to selling stocks and paying capital gains tax, can you be sure you'll get what your sale was valued at the time you sold it? For example, say your investment is worth $1M today and you sell it but the next day the value plummets to $500k. You're still getting that $1M minus the taxes right? I wanna make sure there's no trickery or learning holes that all the gurus fail to disclose that I might be missing.

Someone correct me if I'm wrong, but I think you get whatever it's worth at the time you sell. That's why stock are risky.
 

LazyDaisy

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Someone correct me if I'm wrong, but I think you get whatever it's worth at the time you sell. That's why stock are risky.
That's what I'm assuming but the thought occurred to me last night when I saw a thumbnail about someone's profits off stock investments and I thought about taxes and when they would be due and how long it takes to get the money from the sale and how much money would you get from the sale and wondering if there was any trickery involved about what value is being paid out to you, etc. So my mind went down the rabbit hole.
 

ReynoldsWrap

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This is more of a vent than a question. This has been erking my nerves with some of the Wells Fargo Auto customer reps. I usually like to pay my balance with a rep with my debit card. I usually pay on my due date or during the grace period. I know my grace period because I see it on the statement. Not all agents ask this but I get ask why my payment is late and I always have to remind them that I am in the grace period. I just get annoyed because I feel like I'm paying my balance owed right now so why is this question even relevant??
Hi I know you posted this awhile ago but it's a possibility that it may be a "script" they are "required" or recommended to read. Depending on the procedure if they don't ask or say certain things they can get written up and basically fired.
 

HeySunshine22

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I should know the answer to this based on my financial profile but..

.. At some point, the market is expected to get better right?

I generally shovel money into a HYSA and property investments but I don't do a lot with stocks. Now that things are DOWN, I'm told the wisdom is when its down you buy in, and then wait for it to go back up. If you can afford to be greedy, then do so. And I can, so I'm thinking of going in this direction.

Is anyone doubling down on stocks while things are in the shitter? How much worse might it get from here? Hopefully, it'll begin to climb soon, yes?
 
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I should know the answer to this based on my financial profile but..

.. At some point, the market is expected to get better right?

I generally shovel money into a HYSA and property investments but I don't do a lot with stocks. Now that things are DOWN, I'm told the wisdom is when its down you buy in, and then wait for it to go back up. If you can afford to be greedy, then do so. And I can, so I'm thinking of going in this direction.

Is anyone doubling down on stocks while things are in the shitter? How much worse might it get from here? Hopefully, it'll begin to climb soon, yes?
Soon? I doubt it. This is just the beginning of the downward slope.
 

LazyDaisy

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I should know the answer to this based on my financial profile but..

.. At some point, the market is expected to get better right?

I generally shovel money into a HYSA and property investments but I don't do a lot with stocks. Now that things are DOWN, I'm told the wisdom is when its down you buy in, and then wait for it to go back up. If you can afford to be greedy, then do so. And I can, so I'm thinking of going in this direction.

Is anyone doubling down on stocks while things are in the shitter? How much worse might it get from here? Hopefully, it'll begin to climb soon, yes?
I'd say a month ago I bought some additional shares of S&P 500. Of course it's fluctuated since then of but as of yesterday it's in the green, meaning my value is going up. It's scary at first to start investing but after a lot of research and calculators, I finally got on board. I do keep some cash in my IRA though. It gives me some level of security. My 401k is fully invested in stocks and bonds though. I do it that way because usually my employer's match makes up a significant chunk of those funds and I feel better knowing it's their funds helping me "win the gamble" so to speak.

But none of us can predict what will happen. You truly just gotta dive in and see where it goes. Conventional wisdom just states that eventually, however undefined it is, the market will go back up and you can cash in on the gains but significant gains won't be immediate. That takes time.
 

NO EDGES

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I want to switch from term life insurance to whole and I want to borrow some from my life insurance to pay off some debts is this smart?
 
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I should know the answer to this based on my financial profile but..

.. At some point, the market is expected to get better right?

I generally shovel money into a HYSA and property investments but I don't do a lot with stocks. Now that things are DOWN, I'm told the wisdom is when its down you buy in, and then wait for it to go back up. If you can afford to be greedy, then do so. And I can, so I'm thinking of going in this direction.

Is anyone doubling down on stocks while things are in the shitter? How much worse might it get from here? Hopefully, it'll begin to climb soon, yes?
This is a tough time in the world, with political and financial upheaval almost everywhere. The general thinking is we are in a difficult, recession-like period. The average length of a recession is about eleven months. Things could be choppy for awhile.
 

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