Quote from: d_eddie on Today at 03:35:09 PM

Quote from: ivomm on Today at 10:24:00 AM

Quote from: ivomm on June 24, 2024, 09:31:42 PM

I've never been a weak hand to sell during a big dump. But, this time it is different. I have to sell in a week about 1-2% of my stash to order a new car from the Mercedes factory. (It will come after 5 months, so I can't delay anymore. This is just the initial payment, the rest will be from my salary and probably some smaller percentage of my stash after 5-6 years.) I know that this is not a lambo to brag about, but I just need a nice car with a good suspension and high tech packages for my daily errands. I'm waiting for a call from the bank when they are ready with the formalities, so I have to sell no matter the price. The timing is rather bad, really. I coud have sold at 70K, but I didn't want to sell until I am certain the deal is 100% sure.

I just got news from the bank. The bad news is that I won't get the deal with the parameters which I wanted, so the deal is off. The good news is that I don't have to sell anything in the coming months.

Fuck banks. If mine would've allowed me to borrow against my assets (sitting with them), even for like 1/5 or 1/10 of the value, I would have quite a better stash now. The problem was that my assets weren't their shitty funds (I am NEVER going to subscribe that shit at their conditions, EVER!). There were stocks, but "not enough diversification". There were ETPs (but based on... what's that XBT/BTC thing? No wayyyy this is garbage to borrow against!).

I asked for a bank loan when the interest was very reasonable (and only on the amount actually used), waiting for a low that punctually came and I obviously missed (apart from the measly quasi-DCA I could afford at the time). I could have bought a big sack of corn instead, resold a handful and paid off the interest in just a few months. FUCK BANKS.

You can borrow from yourself in some individual/solo 401k plans (allowable for a single member LLc or single personpropreitorship).
Those are 'magical'- you can tax defer up to 76500/year (!) and borrow up to 50K from yourself (not all brokers support this, but some do).
Talk to your CPA about it.