Cramer's First Hour, Part 4 -- December 3, 2024

Locator: 44488CRAMER.

See disclaimer. Especially the part about typographical and content errors. My most common typographical error: "now" for "not" or vice versa. Example:

• I am now investing.
• I am not investing.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.  

ATT: surges. Up 3.5%. Later, up 4.5%.

Trump: against the "steel deal." US Steel Corp drops 7%. But the deal will close before January 20th -- up to Biden. David Faber on CNBC. Needs to be fact-checked. Everyone will sue everyone if the deal is blocked.

IRA conversion: I've covered this numerous times -- maybe not on this blog, but elsewhere -- regardless. 

A lot of folks are missing the big story. Traditional IRAs were first offered in 1974. My first "real" paycheck was 1977 and I began investing that year (or shortly thereafter) -- I forget the specifics -- and opened the first of several IRAs that year (or shortly thereafter). So, let's say 1980. Those IRAs have been growing tax-free for forty-four years. I haven't paid any tax on those investments for forty-year years. Now I'm required to withdraw about 4% from those accounts on which I will pay federal tax (no state tax) on the withdrawals.

Regardless of whether a Roth conversion makes sense or not, I'm simply blown away that my IRAs have been growing tax-free for 44 years, and now I owe federal taxes on 4% of their value (EOY, 2023). I just can't get too excited over these discussions about conversion. Know what will make a bigger difference than a conversion? Continued investing going forward.

Investing: active duty military and other federal employees (including US postal workers) can maximize IRAs (traditional and Roth), 401(k)s, TSPs, 529s, and a pension. Not tax-free, but if one has any money left over, then EFTs.

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Disclaimer
Brief Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  
• If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
• Longer version here.