Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[MP3Mike]

Failure to do so could place 1/2 of $6mil of TSLA shares into the hands of those unscrupulous actors willing to do the unthinkable -- sell them.

He didn't say $6 million, he said _.6 million. That could be $0.6 million or $9.6 million...

 

[astrotoy]

I hope you realize, it's person-to-person, so you could each give $15k to each kid, $30k each.

Edit: and if Kid is married, $30k to Kid and another $30k to Mx. Kid.

And if your kids have children (your grandchildren) each of them can get $30K ($15K from each of you). You can give them TSLA shares, but note that their cost basis will be your cost basis. Only after your death is the cost basis stepped up to the price at your death.

 

[sroh]

It's amazing how many spouses are in the dark. My wife knew we were all in on Tesla a few years ago, but didn't realize what it did to our fortunes until 3-4 months ago. Now she asks to see the accounts once a week or so. Fortunately, she thinks the money is not ours until we take the gains.

Little does she know we're hodlers. Oh well...

My wife has no interest in our TSLA holdings. She was surprised when I told her a few months ago how much we had. All she cares about is when we can retire. I've tried to convince her we could pull in our retirement date by several years if she allowed me to invest some of her 401k funds into Tesla (her 401k allows transfer into rollover IRA), but she is conservative and thinks we are already too concentrated.

Oh well is right.

 

[generalenthu]

And if your kids have children (your grandchildren) each of them can get $30K ($15K from each of you). You can give them TSLA shares, but note that their cost basis will be your cost basis. Only after your death is the cost basis stepped up to the price at your death.

Are you saying if I have low cost basis stock, I can give more than 15k (at current value)?

 

[AimStellar]

He didn't say $6 million, he said _.6 million. That could be $0.6 million or $9.6 million...

You are correct, thanks. However the larger point remains: Every long TSLA share is precious in its own beautiful way.

 

[astrotoy]

For 529 plans (which grow tax free until withdrawn, normally for educational costs - tuition, etc.) you have to go through a plan authorized by a state (doesn't have to be your state, although some states give further tax credits, etc.) States approve the funds that you can invest in, typically taking an administrative fee beyond the mutual fund's fee. I'm pretty sure that no state allows you to investing in individual stocks in a 529 plan. Where we are in California, we don't get any benefit from the state to use California's plans, so we chose the Nevada 529 plan that is administered through Vanguard, since it is low administrative fee plan. There are other states that also have low admin fee plans.

 

[astrotoy]

Are you saying if I have low cost basis stock, I can give more than 15k (at current value)?

You can give $15K and your spouse (or any friends you have) can also give $15K - per year to any person. Your spouse or you can also allow each other to use their $15k allowance for a combined gift. It can be cash, stock, mutual fund, etc. but the market value at the time of the gift determines the value, not the cost basis. When the giftee sells the stock, they have to pay capital gains on the stock, based on the cost basis (effectively preventing escaping capital gains tax). The only way to escape capital gains is for you to die and bequeath to your beneficiary.

 

[mejojo]

First I've seen of West coast deliveries... So maybe mine will be arriving soon too.

They attempted to deliver mine in SoCal, but I wasn't there. Rescheduled delivery for Monday.

 

[Prunesquallor]

Heading out for New Year's Eve dinner. You all played a big role in making this year as enjoyable as it was for me. Hope you all remain safe and healthy in 2021 and I look forward to many more trading days of fun and frolic.

 

[Model S M.D.]

ATH, HODL, DCA while WFH, DYOR blah blah, running out of acronyms! Cheers everyone for this silver lining in a crazy 2020. Very thankful for this community and looking forward to an even better 2021.

 

[Fred42]

Heading out for New Year's Eve dinner. You all played a big role in making this year as enjoyable as it was for me. Hope you all remain safe and healthy in 2021 and I look forward to many more trading days of fun and frolic.

You're going out to dinner? Yes, safe and healthy.

 

[Andy O]

Happy New Year to all, and thanks for all the good advice, including the advice to be charitable.

 

[BabyBull]

Your questions are so basic that you need to educate yourself a bit - try the Top 10 Free Options Trading Courses | #1 Options Trading Education free courses and then take it from there

May be I did not word it correctly. I will read up and come back with better questions. Thanks.

 

[pz1975]

Happy New Year's everyone! I am on call tonight so sadly will not be able to partake in any drinking.

I also want to express a great deal of gratitude for all the contributors on this thread going back to when I first randomly stumbled upon it in 2013. I owned TSLA shares at that time, but this thread is a major reason that I never sold (core shares - I do trade in and out of options) and only added to my position over these long, and sometimes difficult, years as a TSLA investor and Tesla fan. Although 2020 sucked for many reasons, the rise of TSLA has set up my family and I with financial security for likely multiple generations (unless someone messes up big time!), and I want to thank all of you and wish you the best! Someday we will all meet up with our Roadsters and islands...

 

[DriveMe]

10x!

Today is special! My Tesla investment turned 10x!!! Something that was supposed to take 10-15 years, happened in less than two! Wow!

And while my Tesla investment is modest by TMC standards (not a Teslanaire yet), the way I see it, I just saved 5-10 years on my path to retirement! Unbelievable!

Thanks to Tesla, Elon Musk and this forum!

Cheers and Happy New Year everyone!

 

[HG Wells]

Happy New Year's to all!

My wife just realized we have _.6 million dollars in TSLA stock and now wants to sell a bunch.

What do I do?!

Talk to an attorney. Each state is different as to what is joint and separate.
If the initial investment was an inheritance and was kept separate from common funds you might be in the clear. Depending on state.
Elon doesn't lose the company every time he gets a divorce. But that's probably a prenup.

My advice ? RUN !

Disclaimer. I am not an attorney.

 

[Discoducky]

Your mistake was letting her know it was that much.

Ha, agreed, I've only showed one of my several accounts to my better half

Also, I was going to reserve a roadster when I reserved Cybertrucks Nov 2019. So glad I kept that invested as now that reservation money has been turned into a few SpaceX Roadsters

Happy new year to everyone and to all the newbies (yeah, I'm an old fart on this forum from 2011) welcome! There isn't a more better group of mostly strangers that I'd rather hang out with, make crazy money while transitioning the world to sustainable transportation/energy!

 

[StealthP3D]

It's amazing how many spouses are in the dark. My wife knew we were all in on Tesla a few years ago, but didn't realize what it did to our fortunes until 3-4 months ago. Now she asks to see the accounts once a week or so. Fortunately, she thinks the money is not ours until we take the gains.

Maybe I misunderstand your last sentence, but your wife is correct.

You are a shareholder. There is no money, unless you sell your shares. If there is no money, the money can't be "yours". When your account lists a value for the shares, that's just the last price that other identical shares most recently sold for, not money that is owed to you.

 

[Off Shore]

Thanks to all here for the signal and the noise, which together offered orders of magnitude more reliable information about Tesla. May the future treat you all well.

 

[JustMe]

ATH, HODL, DCA while WFH, DYOR blah blah, running out of acronyms! Cheers everyone for this silver lining in a crazy 2020. Very thankful for this community and looking forward to an even better 2021.

TYVM