*Investors Blog*

[Pablo]

Thread kinda petered out.

1) Hey Ima get a SS raise, tad over $100 month.
2) All my 2023 maturities (Bonds, CD's, etc) are done for the year
3) I still have to send my 2023 tax payment to the IRS
4) I scheduled an appointment with an open mind, with a Fidelity rep. Mainly to see what he says in 2023. I haven't spoke to anyone from Fido since 2019, so what the heck. https://digital.fidelity.com/prgw/digital/faa/advisorbio/8780/8e806c2d28a5b54c657c3c2aa340fdea
5) I moved into a couple small positions. But the majority of my money is in these 4: FZDXX, SGOV, BACPRB, FTEXX

 

[SC Maintenance]

I found this tweat intersting. I follow Michael Gayed. There is a lot he says I don't agree with, but he at least always brings data, and a traders perspective.

Full tweet -

 

[ArrestMeRedZ]

Thread kinda petered out.

1) Hey Ima get a SS raise, tad over $100 month.
2) All my 2023 maturities (Bonds, CD's, etc) are done for the year
3) I still have to send my 2023 tax payment to the IRS
4) I scheduled an appointment with an open mind, with a Fidelity rep. Mainly to see what he says in 2023. I haven't spoke to anyone from Fido since 2019, so what the heck. https://digital.fidelity.com/prgw/digital/faa/advisorbio/8780/8e806c2d28a5b54c657c3c2aa340fdea
5) I moved into a couple small positions. But the majority of my money is in these 4: FZDXX, SGOV, BACPRB, FTEXX

If you get the recommendation to have a "professional" manage your retirement account for a percentage, or if he suggests an annuity, just say "NO!". I've found Fidelity account executives to be very helpful if you let them know up front you won't be giving in to "timeshare salesman" tactics on these two subjects.

 

[Pablo]

If you get the recommendation to have a "professional" manage your retirement account for a percentage, or if he suggests an annuity, just say "NO!". I've found Fidelity account executives to be very helpful if you let them know up front you won't be giving in to "timeshare salesman" tactics on these two subjects.

My last encounter was a lovely little girl, who didn't know much. She wanted me to go near 100% bonds in 2019. Uhhh...no. I mean she was dark and pretty, but I'm not falling for that! She was arbitrarily assigned to my account. That said she was 0% pressure, she never bugged me. She suggested I get my arctangent on writing a real budget. My lovely wife was quite proud of that budget. Basically showed how easily we could retire.

This latest clown I chose on my own from their line up. Yeah we will see. I just want another POV as I feel I'm missing something.

 

[Dave Hess]

Ho Ho Ho, get ready for Santa Claus Rally and make some money this month.

 

[zzyzzx]

4) I scheduled an appointment with an open mind, with a Fidelity rep. Mainly to see what he says in 2023. I haven't spoke to anyone from Fido since 2019, so what the heck. https://digital.fidelity.com/prgw/digital/faa/advisorbio/8780/8e806c2d28a5b54c657c3c2aa340fdea

Report back on that please.

 

[Dave Hess]

My last encounter was a lovely little girl, who didn't know much. She wanted me to go near 100% bonds in 2019. Uhhh...no. I mean she was dark and pretty, but I'm not falling for that! She was arbitrarily assigned to my account. That said she was 0% pressure, she never bugged me. She suggested I get my arctangent on writing a real budget. My lovely wife was quite proud of that budget. Basically showed how easily we could retire.

This latest clown I chose on my own from their line up. Yeah we will see. I just want another POV as I feel I'm missing something.

Why waste time with these idiots if you already do a GREAT job managing your money / retirement accounts ?

 

[Warstud]

Heading Higher

 

[alarmguy]

Help please/ (thanks in advance)
I have a Roth that I trade in, happy with my success on that.(actually thrilled mostly)
I also have a 401k that I dont touch. Its a mix of Nasdaq 100, S&P 500 index funds and my POS WFC (Wells Fargo) that I have done well in, only because I purchased it all the way down to the twenties and all the way back up.

So I kick myself every time its gets to where it is now for not selling it. So I am selling and chances are I will before I hear some of your thoughts.
Im dumping the WFC but since I always paid attention to individual stocks for my Roth and NOT funds for my 401k I have no idea how the market sectors have done or where to go with the proceeds from WFC.

Im trying to do some quick research before I go out shopping with the wife. *LOL*

To late Never mind,
OUT = WFC
INTO Existing = Nasdaq 100 Index
INTO Existing = S&P 500 Index

OUT = Global ESG Index Fund
INTO Existing = Nasdaq 100

Would be nice if the Nasdaq and S&P hold up nice come back after terrible 2022. I didnt even know since I dont pay much attention to this 401

 

[Pablo]

Report back on that please.

He was extremely level headed, no charge and started a good conversation. Not pushy at all.

He gave me some ideas about getting the MB Sprinter.

He asked the right questions, answered mine.

TBC Monday AM. We did speak the entire hour.

 

[Pablo]

Help please/ (thanks in advance)
I have a Roth that I trade in, happy with my success on that.(actually thrilled mostly)
I also have a 401k that I dont touch. Its a mix of Nasdaq 100, S&P 500 index funds and my POS WFC (Wells Fargo) that I have done well in, only because I purchased it all the way down to the twenties and all the way back up.

So I kick myself every time its gets to where it is now for not selling it. So I am selling and chances are I will before I hear some of your thoughts.
Im dumping the WFC but since I always paid attention to individual stocks for my Roth and NOT funds for my 401k I have no idea how the market sectors have done or where to go with the proceeds from WFC.

Im trying to do some quick research before I go out shopping with the wife. *LOL*

To late Never mind,
OUT = WFC
INTO Existing = Nasdaq 100 Index
INTO Existing = S&P 500 Index

OUT = Global ESG Index Fund
INTO Existing = Nasdaq 100

Would be nice if the Nasdaq and S&P hold up nice come back after terrible 2022. I didnt even know since I dont pay much attention to this 401

Late but watch WFC preferreds.............OK maybe not, and I don't own any currently, but was another of my March 2020 back up the truck preferred stock moments.

 

[99Saturn]

Help please/ (thanks in advance)
I have a Roth that I trade in, happy with my success on that.(actually thrilled mostly)
I also have a 401k that I dont touch. Its a mix of Nasdaq 100, S&P 500 index funds and my POS WFC (Wells Fargo) that I have done well in, only because I purchased it all the way down to the twenties and all the way back up.

So I kick myself every time its gets to where it is now for not selling it. So I am selling and chances are I will before I hear some of your thoughts.
Im dumping the WFC but since I always paid attention to individual stocks for my Roth and NOT funds for my 401k I have no idea how the market sectors have done or where to go with the proceeds from WFC.

Im trying to do some quick research before I go out shopping with the wife. *LOL*

You’re going to be limited to whatever the options are in your 401k if you don’t roll the money into a traditional IRA no? Worth considering if you want to roll a portion to a traditional IRA if you want more flexibility in investment choice.

 

[Pablo]

You’re going to be limited to whatever the options are in your 401k if you don’t roll the money into a traditional IRA no? Worth considering if you want to roll a portion to a traditional IRA if you want more flexibility in investment choice.

There are 401k accounts with brokerage

 

[99Saturn]

There are 401k accounts with brokerage

Good point. I’ve never had one that allowed for individual stocks other than company stock so I just assumed…plus the sector comment.

 

[SC Maintenance]

Late but watch WFC preferreds.............OK maybe not, and I don't own any currently, but was another of my March 2020 back up the truck preferred stock moments.

I need a tutorial on how to buy prefered's. I looked a couple times and it looked like a root canal. I would like actually to buy some BAC prefered's. Well I think I do - but I really don't know what I am looking at - except a juicy dividend from a TBTF bank. Sounds like a winner.

https://investor.bankofamerica.com/fixed-income/preferred-stock

 

[Pablo]

I need a tutorial on how to buy prefered's. I looked a couple times and it looked like a root canal. I would like actually to buy some BAC prefered's. Well I think I do - but I really don't know what I am looking at - except a juicy dividend from a TBTF bank. Sounds like a winner.

https://investor.bankofamerica.com/fixed-income/preferred-stock

Same as buying any stock other than odd symbols.

Depends on your broker.

I own two BAC preferred stocks, good choice.

Fidelity is BACPRB which is Series GG, also called BAC-PrB or BAC-B (and other tickers depending on broker)
Fidelity is BACPRL which is Series LL convertible, BAC-PRL or BAC-L

Read more about each here: https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=BAC

 

[SC Maintenance]

Same as buying any stock other than odd symbols.

Depends on your broker.

I own two BAC preferred stocks, good choice.

Fidelity is BACPRB which is Series GG, also called BAC-PrB or BAC-B (and other tickers depending on broker)
Fidelity is BACPRL which is Series LL convertible, BAC-PRL or BAC-L

Read more about each here: https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=BAC

The tickers were the starting problem, since every broker lists them different. BAC-PRB at Schwab I think is BAC/PB at fidelity (I have both), but thats an assumption - I don't know how to know other than the price and yields match. Schwab sucks BTW. I want to move it to Fidelity but I don't want to be locked out 2 weeks while it moves.

Second issue is there are multiple prefered's with different Yields? This intuitively makes no sense to me since there essentially the same investment / risk.

For example - BAC-PRB has a 6% yield and is callable but not convertable.

BAC/PL has 6.24% yield, is not callable - but is convertable.

That seems wrong to me. Wouldn't you want the non-callable prefered more that the callable one?

 

[Pablo]

The tickers were the starting problem, since every broker lists them different. BAC-PRB at Schwab I think is BAC/PB at fidelity (I have both), but thats an assumption - I don't know how to know other than the price and yields match. Schwab sucks BTW. I want to move it to Fidelity but I don't want to be locked out 2 weeks while it moves.

Second issue is there are multiple prefered's with different Yields? This intuitively makes no sense to me since there essentially the same investment / risk.

For example - BAC-PRB has a 6% yield and is callable but not convertable.

BAC/PL has 6.24% yield, is not callable - but is convertable.

That seems wrong to me. Wouldn't you want the non-callable prefered more that the callable one?

I can assure you Fidelity is BACPRB once you own it. But I know what happened, the old system did not accept "/"

Maybe. I don't really worry much about being called, because I never buy over face. That said with a convertible the terms are important, in this case not much worry of conversion

 

[alarmguy]

You’re going to be limited to whatever the options are in your 401k if you don’t roll the money into a traditional IRA no? Worth considering if you want to roll a portion to a traditional IRA if you want more flexibility in investment choice.

Yes, I know, I have a personal Roth and Company 401. I very well may in the future, when I feel like paying the taxes, roll everything into the Roth. I just kept it like this as both were doing ok, considering the Roth as the speculative and 401k as conservative. It's really amazing how limited a 401k can be, yet recovered from the 2022 disaster pretty good with a 29% gain this year.

 

[SC Maintenance]

Yes, I know, I have a personal Roth and Company 401. I very well may in the future, when I feel like paying the taxes, roll everything into the Roth. I just kept it like this as both were doing ok, considering the Roth as the speculative and 401k as conservative. It's really amazing how limited a 401k can be, yet recovered from the 2022 disaster pretty good with a 29% gain this year.

Am I mistaken - I thought you had retired? If you are no longer an active employee you can roll your 401 to a "rollover IRA", which is like mostly any other IRA, relative to the investment parts at least?