Quote:
Originally Posted by feralmerril
I lost it buying on margin.
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Another term for that is gambling.
Actually, there was reportedly a lot of this going on in 1929. When the market went south and the margin calls went out the fertilizer hit the fan.
There is a lot of things to be aware of with 401K and IRA's. I was told I would be paying at a lower rate and I doubt that I am. Also my social Security wouldn't be taxable if I didn't take money out of my IRA, Since I do, I have to also pay tax on my Social Security. It seems like double taxation to me.
In 2001 when the market went south I lost thousands on paper. Of course I lost the most in my divorce. I probably paid $50,000 in lawyer costs alone!