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Emotional Rollercoaster/tax-loss harvesting/rebalancing/switching
Hello, fellow Fearless & funded investors, I am here, not quitting and not going anywhere. I'm working hard behind the scenes. I have been paying debts and investing at the same time. Oh boy, I can't wait to be debt-free and focus 100% on investing. Question: How do you get over the emotion when rebalancing or switching(stocks) your portfolio? I hold a stock I bought over 1.5 years ago. The stock is underperforming; I have lost about half of the money I spent to acquire it. I think now is the time to let that go; it is time to trade the loser for the winner, but when I see how much money I have lost in this particular stock, I am like, maybe I should just wait; the market will correct itself. This is the hard part for me: letting it go when I lose. I would like to know how other people cope with this. Would this stock be eligible for a tax-loss harvesting strategy even though it is only 1.5 years old? Thank you
Roth Conversion guide
Attached is the book I am reading to help me with tax strategies and Roth Conversions.
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Roth Conversion guide
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I'm starting to see clearly now...
Hello fellow Fearless and Funded voyagers! Michael W. here from Florida. Finally realized, I need complete picture on financial independence, Gen. wealth, and 'real' retirement planning. The WealthTwins offer the help that I need! They were gracious enough to invite me to join the WealthPack. After reading your comments and encouragements, I believe that with some hard work in this environment, I can learn to create a solid plan and gain the skills necessary to become a confident investor. Retirement in 4 to 7 years doesn't sound so daunting. I look forward to becoming a prosperous member of the pack! Best Regards!! P.S. I still got it...........!
I'm starting to see clearly now...
New Fed Chair Approved 😳
A new Fed Chair Kevin Warsh was voted in yesterday. Jerome Powell was the previous one and he and Trump often bumped heads. One of the main things the Fed does is control interest rates. Trump has wanted interest rates cut for a very long time and Powell refused to just do what the President wanted, but instead do what he felt the economy needed based on numbers and facts. The idea is that when interest rates are lowered people will spend more rather than save and interest rates on mortgages and other things are lowered. Many see Warsh as a Trump loyalist. Do you think we would see the Fed cut interest rates because of it?
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