Ask Rande 10,000+

Top 145. Sep 23, 2001 9:21 AM

» Rande - Re: Mutual Fund Tax Loss Selling

In response to message posted by Kirk:

Kirk,

I would tend to agree. Last year, there was a lot of tax-loss selling by the mutual funds for fear of distributing taxable gains in an overall losing year. Hard to imagine there are many gains left to offset this year. Seems more likely that buying/selling this fall will be primarily driven by factors other than taxes. But then, as you say, who knows?

-- posted by Rande

Top 146. Sep 23, 2001 9:48 AM

» Slick - Recharacterization Of Roth IRA

Hi Rande:

I posted , a while back , about the possibility of "recharacterizing" my Roth ( going back into a basic IRA ). Oy Vie !

The difference between then and now , is about 40% ! So obviously, taking advantage of the " recharacterization " clause is a plus, in a dismal market.My thoughts are now to " re-Roth " it next year ( Jan 1 ) which will give me 16 months to plan for the expected tax hit. Any advice / comments concerning the new game plan ? I hope I got the terms correct...and spelling smile

Slick

-- posted by Slick

Top 147. Sep 23, 2001 2:59 PM

» Rande - Re: Recharacterization Of Roth IRA

In response to message posted by Slick:

Slick,

You get one recharacterization a year. If it's going to save you a heap of money, then why not do it? If you're asking whether now is the best time or not, you'll need to check with Madame le Rue and her cyrstal ball. smile

-- posted by Rande

Top 148. Sep 24, 2001 10:38 AM

» dax - Hi Rande,

Hi Rande,

I wonder if you could offer some advice about this:
It's a five-year CD (FDIC insured) that pays no interest but at maturity instead pays 125% of the average yearly gain in the S&P500 with your principal guaranteed. It's offered by something called Oriental Bank & Trust, located in Puerto Rico. Here are the specifics:
http://www.bankingforcds.com/ProductInfo...

What are your thoughts about this?

-- posted by dax

Top 149. Sep 24, 2001 11:30 AM

» Thruhiker - Re: Hi Rande,

In response to message posted by dax:

susbstantial penalty for early withdrawal...they ain't joking!!!! from the website...

Early Withdrawal Penalties: If principal is withdrawn before maturity, no interest is earned and certain penalties apply. When withdrawn:

During the first year, 30% of principal is retained.

-- posted by Thruhiker

Top 150. Sep 24, 2001 12:30 PM

» BPyles - Address?

Rande: Good to see this topic rise to top - like cream. In a previous post you mention Madame le Rue for info...do you have an e-mail address or website for her?

dax: I checked out one almost identical to this, doesn't seem like it was Puerto Rico tho, and was turned off by withdrawal penalty and also it was callable which meant the 7 1/2% they were offering would probably be paid off if interest rates dropped. They did...

-- posted by BPyles

Top 151. Sep 24, 2001 3:31 PM

» Bernie777 - BB thread closed

Does anybody know why the BB thread is closed? Does BB have anything to do with this? I surely thought BB would say this is a buying opportunity.

-- posted by Bernie777

Top 152. Sep 24, 2001 3:38 PM

» Bernie777 - Sorry!! BB Thread Opened

For some reason I must have gotten into their old thread. Anyway, I still don't understand why he has not given a buy signal?

-- posted by Bernie777

Top 153. Sep 24, 2001 3:55 PM

» thecook - Tax Loss Info Needed

Hi Rande,

I'm one of the fools who invested 10k in TEFQX. I understand I can only write off 3k in a year for tax losses. Is there a deadline for when I need to sell. Also, how do I figure out how many shares to sell. I currently have about 617 shares at $2.14. I paid just over $16 per share. I don't want to sell all this year if I don't have to.

Thanks so much

-- posted by thecook