What Did You Buy Today?

[divmenow]

Sold out of BNTX on the $13 up swing this morning

Bought NOC

[divmenow]

(07-13-2020, 09:48 AM)Hi SChadR Wrote: Initial position into AVGO.

Smart buy. If this didn’t have such a high paying dividend and make a ton of cash this would be like TSLA and trade at $1000 plus

[vbin]

Added NOC and MO recently.

[stockguru]

Bought FCX as copper hits a new high. I think this runs to $20 at some point.

Also added to NOC, BTI and CVS

[fenders53]

(07-13-2020, 01:15 PM)stockguru Wrote: Bought FCX as copper hits a new high. I think this runs to $20 at some point.

Also added to NOC, BTI and CVS

FCX is a good spec stock.  I trade it some and I am long again here.  They mine a little gold too last I checked.

[saimash]

Hello Dividend Gurus -

I have a question that I've been grappling with over some time now (please tell me if this is not the right thread to be posting this).

So we have 2 kids (Son who is 18 and daughter who is 13)... While I started a Roth IRA for my son (ever since he started working around age 16), I want to start a similar account for my daughter (even though she cannot start working officially for another few years. In the past I refrained from starting any separate account for my son thinking it would impact his chances of getting any scholarships, but based on our combined income level we soon realized that he definitely didn't qualify for any kind of "Need Based" Scholarship (and so we essentially lost all the traction/savings that could've accumulated in his account if we had started an UTMA/UGMA account for him).
I see some of you here saying that you investing in stocks in your kids accounts... Can one of you please share what type of account this is and the reason (pros/cons) behind the investment.

Thanks once again in advance for your advice !

[divmenow]

(07-14-2020, 09:05 AM)saimash Wrote: Hello Dividend Gurus -

I have a question that I've been grappling with over some time now (please tell me if this is not the right thread to be posting this).

So we have 2 kids  (Son who is 18 and daughter who is 13)...  While I started a Roth IRA for my son (ever since he started working around age 16), I want to start a similar account for my daughter (even though she cannot start working officially for another few years. In the past I refrained from starting any separate account for my son thinking it would impact his chances of getting any scholarships, but based on our combined income level we soon realized that he definitely didn't qualify for any kind of "Need Based" Scholarship (and so we essentially lost all the traction/savings that could've accumulated in his account if we had started an UTMA/UGMA account for him).
I see some of you here saying that you investing in stocks in your kids accounts... Can one of you please share what type of account this is and the reason (pros/cons) behind the investment.

Thanks once again in advance for your advice !

I have 7-8 year old boys. And each have a 529 savings plan. It tax feee and it’s used for college. I started them off early so they will me set once they turn 18. Both also have custodial IRA accounts which they cant touch until they are of legal age Lol. This is where I buy them stock. I buy names they know and follow to keep them interested. Names like MCD, AAPL, HD, NKE ect.

[fenders53]

I think custodial accounts are good. It's impossible to know what education financial aid looks like in the future. Divemenow has it right on stock selection. Buy something fun to track. It's entirely possible you will do more long-term good just getting your children interested in investing.

[saimash]

(07-14-2020, 09:29 AM)divmenow Wrote:

(07-14-2020, 09:05 AM)saimash Wrote: Hello Dividend Gurus -

I have a question that I've been grappling with over some time now (please tell me if this is not the right thread to be posting this).

So we have 2 kids  (Son who is 18 and daughter who is 13)...  While I started a Roth IRA for my son (ever since he started working around age 16), I want to start a similar account for my daughter (even though she cannot start working officially for another few years. In the past I refrained from starting any separate account for my son thinking it would impact his chances of getting any scholarships, but based on our combined income level we soon realized that he definitely didn't qualify for any kind of "Need Based" Scholarship (and so we essentially lost all the traction/savings that could've accumulated in his account if we had started an UTMA/UGMA account for him).
I see some of you here saying that you investing in stocks in your kids accounts... Can one of you please share what type of account this is and the reason (pros/cons) behind the investment.

Thanks once again in advance for your advice !

I have 7-8 year old boys. And each have a 529 savings plan. It tax feee and it’s used for college. I started them off early so they will me set once they turn 18. Both also have custodial IRA accounts which they cant touch until they are of legal age Lol. This is where I buy them stock. I buy names they know and follow to keep them interested. Names like MCD, AAPL, HD, NKE ect.

Yup I have had a 529 Plan (been funding 600$ per month for the last 13 years.. although it hasnt appreciated as much, its a pretty decent start for now, although my son's college fees are sucking the life out of it and I'm not sure if I should increase the monthly funding amount so we can have some left for our daughter as well) :-)
I'll have to look at the Custodial IRA account (Would it be taxed on our tax bracket since we still own the money, or would starting an UTMA account make more sense) ?

[fenders53]

You generally have to give up legal control or everyone would just use it as a tax shelter whether they intended to send kids to school or not.

[vbin]

(07-14-2020, 11:11 AM)saimash Wrote:

(07-14-2020, 09:29 AM)divmenow Wrote:

(07-14-2020, 09:05 AM)saimash Wrote: Hello Dividend Gurus -

I have a question that I've been grappling with over some time now (please tell me if this is not the right thread to be posting this).

So we have 2 kids  (Son who is 18 and daughter who is 13)...  While I started a Roth IRA for my son (ever since he started working around age 16), I want to start a similar account for my daughter (even though she cannot start working officially for another few years. In the past I refrained from starting any separate account for my son thinking it would impact his chances of getting any scholarships, but based on our combined income level we soon realized that he definitely didn't qualify for any kind of "Need Based" Scholarship (and so we essentially lost all the traction/savings that could've accumulated in his account if we had started an UTMA/UGMA account for him).
I see some of you here saying that you investing in stocks in your kids accounts... Can one of you please share what type of account this is and the reason (pros/cons) behind the investment.

Thanks once again in advance for your advice !

I have 7-8 year old boys. And each have a 529 savings plan. It tax feee and it’s used for college. I started them off early so they will me set once they turn 18. Both also have custodial IRA accounts which they cant touch until they are of legal age Lol. This is where I buy them stock. I buy names they know and follow to keep them interested. Names like MCD, AAPL, HD, NKE ect.

Yup I have had a 529 Plan (been funding 600$ per month for the last 13 years.. although it hasnt appreciated as much, its a pretty decent start for now, although my son's college fees are sucking the life out of it and I'm not sure if I should increase the monthly funding amount so we can have some left for our daughter as well) :-)
I'll have to look at the Custodial IRA account (Would it be taxed on our tax bracket since we still own the money, or would starting an UTMA account make more sense) ?

Have you looked into ESA? If you fall into high income category, you can also do backdoor ESA.

[fenders53]

HD is going to blow earnings away this quarter. You heard it here first.

Keeping running DE and I will short you for the sixth time in under a year.