I started an M1 Finance account a month or so ago because I wanted fractional ETF shares, but I just recently realized that Fidelity offers fractional ETF shares. I have my Roth IRA and 401k with fidelity, so I would like to have this account there to simplify things. Is there a good way to move my account? Obviously, I could just sell it and move it, but then I have to pay short term tax on it, and this is a long term investment. At this point, I feel like my best option is to just stop DCA'ing into the M1 account and start DCA'ing into a new Fidelity account, and then after a year sell my shares in M1 and put the money into Fidelity. Is there a way to move my shares without cost or should I do what I plan on doing?
Jack Parker
ALL HAIL THE MIGHTY CRAB
Brody Wright
can someone buy my DHT bags for 7 dollars please? i’ve been told the divvies are very comfy, you won’t regret it i promise
Christopher Thompson
Why is Jordan Peterson in the OP?
Connor Cook
You can't move your shares from one brokerage account to another for free.
However, you can sometimes get a broker to agree to pay your transfer fee as a sign-up bonus for switching to their platform (or sometimes they will pay you a signup bonus in cash for depositing a certain amount). If your account size is small enough that you care about fractional shares, they probably won't offer this, but it doesn't hurt to ask :D
Why should I not go all in on QYLD and just collect the 11% divs and reinvest them
Jack Baker
I already have a relationship with Fidelity since my 401k and Roth IRA are there, so maybe they would be willing to pay the transfer fee. I've only got around $5k in the M1 account, but I've been adding $1k every two weeks so Fidelity might be interested in the account. Thanks. I'll give it try
two issues with pure buy-write: if QYLD goes down, the yield goes down. For example if you bought at 24, you would be getting about 10% yield on that 24, but then it goes down to 20. People who but at 20 are getting 10% yield, but you are now only getting an ~8.5% yield. The numbers are a little more fuzzy than that, but that's sort of how it works. If QYLD goes up, of course, your yield increases.
Because they are writing calls on ALL of the underlying, you don't capture any strong upward movements, especially on the monthly scale. So there are some interesting time-based behaviors. If QQQ goes up really strong one month, and down really strong the next, it's basically the worst case for QYLD holders, because they eat all of the downside and only pennies on the upsides. But if the market goes mostly sideways month-to-month, it's the best case for QYLD holders.
You also have to pay yearly taxes, which eats into your compounding more than a situation where your stocks grow by 10% per year.
I don't have any issue with QYLD, but I would never be all in on a buy-write strategy. See if some mix of QYLD &/or QLD &/or QQQ &/or QQQX might be better for you
Been taking positions since April 30th. Currently up 10% from 5.5k principle, no capital gains tax/sales yet. All my cash is tied up and I want some in case of market dip. I'm thinking sell WFC.
lets assume major oil companies go bancrupt, wouldnt that led to higher oil prices because way less companies extract oil so there is less oil in the marked? or am i retarded?
But what companies are still valuable since it seems that most oil companies have recovered a large portion of their pre-crash value.
Nicholas Rivera
Yea I just want something not so volitile for a majority of my money, the tax stuff doesn't necessarily bother me cause I may tap into it as necessary. But I was actually thinking about doing a portion in qld or tqqq though. Thoughts?
Ian Moore
tankertrash deserve the suffering and 24/7 cope, at least you admit the need to sell off and look for better opportunities, most of them are still convinced of profits coming soon
Ethan Miller
*I forgot to say another thing: You have to reinvest dividends into QYLD to keep your portfolio growing, or else it will tend to decay over the long run. It gets hit pretty bad when the market goes down, but doesn't go up much when the market goes up. So if you zoom out on the chart, the only really good period for the share price was 2016-2017. Without that sort of all-calm market going on for years, the price (and thus yields) would be even lower. partial buy-write ETFs like QQQX and KNG don't have this issue; they do give nice yields (about half of QYDL or a little less), but they price per share (and thus the yield) tend to appreciate over time, so any re-investment just improves that performance (in a more tax-advantaged way)
it depends other companies will just buy the assets of the bankrupt ones, and they'll keep pumping those wells if it's financially advantageous. So the amount of oil production won't necessarily go down by as much as you would expect
That isn't a "logical mistake". Efficiency isn't a problem with solar panels, they produce plenty of electricity during the day at a very low cost. The problem has always been energy storage which in the past had been prohibitively expensive but due to electric vehicle adoption, as well as advancement of battery technology, solar plus storage is now on par or cheaper than other sources of energy and the price will only keep falling.
You keep trying to make this a left versus right thing and frankly, it's retarded. Fossil fuel subsidies in the US are greater than the entire defense budget, yet you probably complain about a paltry solar tax credit because you're a useful idiot for oil and gas companies who have you shilling for them like a good little goy. It's even worse because billions of dollars in heath care costs due to fossil fuel use are also being subsidized by the people affected by them.
