June 2007
You are currently browsing the articles from General Finance written in the month of June 2007.
The stock portfolio report for my assets has been positive recently, at the same time fluctuating. As I had previously stated, I have pared down my portfolio several weeks back because of risk jitters. Soon there after I flip-flopped and took more money from cash and placed it in individual stocks. My stock portfolio performance has been very good this year save one stock.
That one stock is the New York Stock Exchange (NYX). It has dipped significantly since my original purchase in January, and I have even double and tripled up on it. Last week I took about 30% out because I needed to pay for taxes for an IRA transfer to a Roth IRA. I have faith that NYX will be a long-term success and I will not reduce that position until it turns around and is positive unless some extraordinary circumstances prevent that. Short-term, the New York Stock Exchange (NYX) might have more problems though will not dip below 80, however, it could jump to 100.
When and if this stock rises significantly my overall stock portfolio performance will rise with it. I do not expect this until quarter-earnings are reported in a couple months.
Written by Nagel on June 9th, 2007 with no comments.
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The last couple days of trading on Wall Street has been significantly down. Although the market has been hot for an extended period of time, this might be the beginning of a rush out of stocks. Wednesday the market slowly fell further down throughout the day.
Will this be the start of the crush where investors begin to jump out the windows on Wall Street to the safety of cash equivalents? Flippers have already turned away from the housing market as an investment once the housing market cooled. Will stock investors do the same, if a cool off is upon us?
Written by Nagel on June 8th, 2007 with 1 comment.
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Stock Portfolio Report
Recently, my wife was gifted Conoco Phillips (COP). I began tracking the stock in April before the transfer of the gifted stock. Since then it is up around 15%. The actual transfer came about in early May and since then COP has increased around 12%. This is the good news.
The bad news was the because the stock was gifted it was automatically put into an account with Mellon Investor Services. I do not have a problem with Mellon, but I have never dealt with them before. The letter my wife received stating the gifted stock transfer occurred was short and vague. My wife signed up for online access to her account and that has not offered any answers. We have sent an email proposing some specific questions and their support team did not directly answer those questions. Therefore, it has been a bumpy start to the financial relationship. Now my wife will need to call their 800# and get the answers we need so we better understand our new account with Mellon.
Written by Nagel on June 6th, 2007 with no comments.
Read more articles on Household and Stocks.
In the last several weeks and months my stock portfolio has had some major and minor changes. Last week a transferred all my family’s IRAs into Roth IRAs. You might wonder why I did this. I thinkn the current tax rate for income are very low, mainly because of the Bush Administration’s tax cuts. Because of the current and future financial mess the country is in, I do not think tax rates will be this low again in my lifetime. Medicare, Medicaid, and Social Security are a mess; defense spending is ridiculously high, we are borrowing more and more money to fund these prgrams along with the costly War on Terror. I do not think the economy will grow to the point where it will just pay for itself on the current tax rate and programs we have.
Paying the taxes out of the traditional IRAs and rollover IRAs will be a short-term loss in the value of our retirement portfolio. However, in the long-run this will be a huge gain for us because all the retirement money we have now will not incure any tax consequences once we remove it for our retirement.
Many might disagree with this strategy, but that is my story and I am sticking with it.
Written by Nagel on June 3rd, 2007 with no comments.
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We have started a discussion on methods of saving money. Below are some saving money tips.
- Bring your lunch to work
- Cut or color your hair less often
- Look for rebates to your favorite stores
- Buy used cars
- High interest yield accounts
- Eat healthy and exercise
Add your own money savings tips to the discussion.
Written by Nagel on June 1st, 2007 with no comments.
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