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

[Skipdd]

Hmmmm. The US gift limit is $16K. Let's call it 15 shares. If you do this when they are born, what's that going to look like in 18 years, or in 2040?

It was $14k last year and that was per person, so for example, a married couple could each have given $14k. I’m pretty sure our accountant said for 2022, the amount went up to $15k per person. Regardless, great idea. Wished I had considered that 4 years ago. But this has given me food for thought for future fundings, not just grandkids, but helping any family member..

Speaking of taxes (a bit up thread), son is getting a nice refund, and is putting a chunk into his IRA as additional TSLA shares, per our discussion last night.

 

[Hock1]

It was $14k last year and that was per person, so for example, a married couple could each have given $14k. I’m pretty sure our accountant said for 2022, the amount went up to $15k per person. Regardless, great idea. Wished I had considered that 4 years ago. But this has given me food for thought for future fundings, not just grandkids, but helping any family member..

Speaking of taxes (a bit up thread), son is getting a nice refund, and is putting a chunk into his IRA as additional TSLA shares, per our discussion last night.

No. I was $15K for '21. Went to $16K for '22.

 

[jbcarioca]

The things that are going to kill non-Tesla EV's (at least in the short term) include:
- Production (per Elon, making prototypes is far easier than production)
- Dealerships, who don't want to sell EV's to begin with
- Recalls, there will be many and unlike Tesla all will have to be performed by the dealer
- Repairs, as there will need to be serious training of the dealer's mechanics in order to diagnose and fix any issues that may arise
- Maintenance, rest assured there will be much more maintenance required for EV's made by OEM's and post warranty it will be expensive.

These are just a few of the areas where Tesla, having been designed on a clean sheet of paper, has a huge advantage over their OEM competition. I personally think a lot of folks who buy these vehicles will eventually switch to Tesla because it's going to be too expensive and too much of a pain to own them.

Just in case you needed more ammo when discussing investments with your significant other...

Those of us who, like me, own BEV both Tesla and non-Tesla have informed opinions which sometimes differ a bit with you list, probably nit materially for the most part.
For the record, my Volvo just completed an OTA update which included at least one item (a headlight actuation change) that might have been deemed a recall in some markets.

some OEM including Volvo are changing dealer incentives and procedures to mitigate the negatives, so…direct sales and service are not the only approach from customer view, but are obviously cheaper, more efficient and more flexible.

We are, as Tesla enthusiasts, prone to ignore how some others may adapt. Zero doubt, I am a part of ‘we’.

 

[BornToFly]

No. I was $15K for '21. Went to $16K for '22.

As someone already mentioned, you can give more without anyone paying taxes, but then you have to keep track with an IRS filing, because it counts toward their lifetime limit, which is currently over $11 Million.

 

[traxila]

my kids are 10 and 14. They are both very nearly millionaires in their own right thanks to UTMA accounts i set up many years ago, seeded with Tesla (and other) stock. Neither of them are aware of these accounts yet. I'm legally obligated to hand the accounts over to them when they turn 18 of course, and I'm honestly fearful that doing so could end up doing more harm than good overall in their lives. Everyone wants to provide for their children, but is handing a teenager millions of dollars really good parenting? I suppose I'm going to find out.

Trusts.

 

[JRP3]

Trusts.

Would a trust count if he is legally required to turn the accounts over to them at 18?

 

[betstarship]

Trusts.

Set one up last year, very much worth the hassle.

 

[traxila]

Would a trust count if he is legally required to turn the accounts over to them at 18?

Think may be too late now as a UTMA is a type of trust, but if you are going to set that up should set up a trust from the start to specify age and beneficiary powers of your choice.

Pez is a great parent and I wish the best but I shudder at the thought of giving my soon to be eighteen year old access to millions. 28 is what we set.

I would totally trust the trust if I could and let your child figure out who they are before plowing ahead with millions in hand.

 

[mrmage]

No. I was $15K for '21. Went to $16K for '22.

Lifetime gift limit is $11.7 million.

Annual gift limit is $16k, which does not require filing a gift form to the IRS. File the gift form for anything over 16k to pay taxes only for the cumulative amount gifted above $11.7 million.

 

[CLK350]

my kids are 10 and 14. They are both very nearly millionaires in their own right thanks to UTMA accounts i set up many years ago, seeded with Tesla (and other) stock. Neither of them are aware of these accounts yet. I'm legally obligated to hand the accounts over to them when they turn 18 of course, and I'm honestly fearful that doing so could end up doing more harm than good overall in their lives. Everyone wants to provide for their children, but is handing a teenager millions of dollars really good parenting? I suppose I'm going to find out.

The psy advisor (or was it one of his teachers?) whom I talked with re what I could to to help w/ my son's future development (given his exceptional aptitudes) was .. well Mr . there isn't much you can do after he reaches 10 - by then he'll follow the group norms of his classmates, regardless of what you want. Implying: that the best and only thing I could do is choose best I can in which environment he grows up.

Edit - added note
Money by itself isn't enough at all (like, medical advice, simple or complex: recall Steve Jobs unfortunate experience, or -fill in the blank- ).

 

[wws]

Trusts.

+1. Even more important with a "special needs" kid, where one will want to set up a special needs trust.

 

[Discoducky]

Boom, this is huge!

CNN: US fuel economy rules will soon require 49 mpg average.

US fuel economy rules will soon require 49 mpg average

The Biden administration Friday rolled out final emissions rules that will require cars and trucks to have an average fuel economy of 49 miles per gallon in just a few years.

www.cnn.com

The 49 mpg standard, a roughly 33% improvement from the current average of 36 mpg, applies to cars and light trucks, such as pickups and SUVs, in model year 2026, which will start hitting showrooms in late 2025.

 

[Dangerous Fish]

Boom, this is huge!

CNN: US fuel economy rules will soon require 49 mpg average.

US fuel economy rules will soon require 49 mpg average

The Biden administration Friday rolled out final emissions rules that will require cars and trucks to have an average fuel economy of 49 miles per gallon in just a few years.

www.cnn.com

The 49 mpg standard, a roughly 33% improvement from the current average of 36 mpg, applies to cars and light trucks, such as pickups and SUVs, in model year 2026, which will start hitting showrooms in late 2025.

Ha ha! April Fool!

Seriously, though, do we think this will encourage the auto makers away from ICE to EV or will they just plough more (wasted) money into trying to make more efficient gaz guzzlers?

 

[Discoducky]

View attachment 789079

Ha ha! April Fool!

Seriously, though, do we think this will encourage the auto makers away from ICE to EV or will they just plough more (wasted) money into trying to make more efficient gaz guzzlers?

It has to, so very few ICE cars get even close to 49. They have to move to EVs to not get hit with crushing regulatory penalties.

 

[mejojo]

It has to, so very few ICE cars get even close to 49. They have to move to EVs to not get hit with crushing regulatory penalties.

Don't get too excited....this will all go away as soon as the next political party change...and then they can go back to 25 mpg.

 

[SmokyPeat]

It has to, so very few ICE cars get even close to 49. They have to move to EVs to not get hit with crushing regulatory penalties.

Exactly. And if the legacy makers can't/don't make the efficiency targets, who do you suppose they will be buying those regulatory credits from?

 

[Discoducky]

Don't get too excited....this will all go away as soon as the next political party change...and then they can go back to 25 mpg.

Yeah, I was thinking that as well, but here's to hoping it survives!

 

[wipster]

Those of us who, like me, own BEV both Tesla and non-Tesla have informed opinions which sometimes differ a bit with you list, probably nit materially for the most part.
For the record, my Volvo just completed an OTA update which included at least one item (a headlight actuation change) that might have been deemed a recall in some markets.

some OEM including Volvo are changing dealer incentives and procedures to mitigate the negatives, so…direct sales and service are not the only approach from customer view, but are obviously cheaper, more efficient and more flexible.

We are, as Tesla enthusiasts, prone to ignore how some others may adapt. Zero doubt, I am a part of ‘we’.

Note I did say in my first sentence that these were short term. Some manufacturers (i.e. Volvo) will see Tesla's advantages and adapt more quickly than others (GM). However I do think it will take several more years before most adapt... if they're still in business that is.

 

[Discoducky]

PSA...

While we are waiting for Q1 production numbers, please consider enabling TFA (Two Factor Authorization) and using strong passwords on your financial and sensitive information accounts. And if you want to be thoroughly incentivized, listen to this Lex interview with Brett, who stole incredible amounts of money from folks. I've time stamped it to a particularly interesting bit he calls "spear phishing".

I'm seeing all kinds of new attacks in tech and the best line of defense is TWA and strong passwords. Even TMC has TWA, which I have enabled. Fidelity, eTrade, MS, Vanguard...etc as well as traditional banks.

Here's a phishing email which is not legit supposedly from Coinbase where I hold my crypto...

 

[StapleGun]

my kids are 10 and 14. They are both very nearly millionaires in their own right thanks to UTMA accounts i set up many years ago, seeded with Tesla (and other) stock. Neither of them are aware of these accounts yet. I'm legally obligated to hand the accounts over to them when they turn 18 of course, and I'm honestly fearful that doing so could end up doing more harm than good overall in their lives. Everyone wants to provide for their children, but is handing a teenager millions of dollars really good parenting? I suppose I'm going to find out.

Invest the assets in NKLA. Problem solved!