Roth IRA
Hello, I was curious on why the last day to contribute towards my Roth IRA is the same day as the last day to file taxes, April 18th? I mean this is great news because I didn't buy stocks for a couple of months despite being told to DCA. So now if I'm reading correctly, I can build positions in my IRA on 1/02/2023, and possibly DCA into individual stocks/bonds/index funds up to $6,000 between 1/02/2023 – 04/18/2023? Then be allotted another $6,000 limit on 04/19/2023 for next 365 days?
It sounds great to me so I just wanted to make sure I was reading this right. The reason why I didn't contribute too much towards my Roth IRA was that I was focused on my main brokerages that which allowed for more active portfolio management. I also got caught up with work and life so I didn't have time to focus on longer-term investments that I would feel comfortable for the next 30 years or so. I'm also aware that I can't exceed the $6,000 limit even if I have multiple IRAs right? Just wanted to confirm this. Thank you.
401k
Last question, but this is about 401k. Unfortunately, the companies I work for currently don't offer a 401k. But the next company I work for might match up to 2%. Is that worthwhile opting in for? And if my next employer after doesn't offer a 401k, what happens to my 401k? Because I believe I do have one from my employers 3 jobs ago that I was with for around a 1.5 years that matched 5% that I had opted-in for.
An investments idea for my Roth IRA
A few stocks I had thought about for my retirement account go the following.
HanesBrands, I enjoy their product and see them doing well regardless of the current debts. This would be a smaller position when compared to Index funds.
Sinopec, Sinopec is a Chinese company not listed that trades on the HKSE and OTC. Being Chinese doesn't matter, and being traded OTC/HKSE means a lot of de-listing or geopolitical risks are gone. I was considering having around 2%-3% in Sinopec because I do own companies like OXY and Chevron in my main brokerages where I actively manage my portfolio. But I wanted to diversify as I think Sinopec and many Chinese stocks are undervalued. It would be a long-term hold and I am not worried about geopolitical risks. I would like to know more about the company itself. If anyone has gone more into the companies financials and has kept up with the news regarding the company. I'm somewhat familiar with Chinese stocks but it''s hard to find information on less popular Chinese stocks such as Sinopec or even Chinese banks. Finding information on the smaller things like contracts, loans, etc is already difficult with U.S. banks. But I am interested in banks as well if I could somehow find the information I would need whether it be U.S. or Chinese banks.
My main question here: Does Charles Schwab or any brokerage that offers a Roth IRA/401k allow for stocks listed on the HKSE or OTC?
Honda Motor Co., I understand Honda is an ADR, but I use to work for the company a long time ago. I love the product and think it's becoming more attractive as a long-term hold. Should I be mindful that Honda is traded as an ADR? I think as the stock drops down, it will be a good value play. I think Honda like any other foreign company is an ADR right? So I wonder if I would have to pay an ADR fee similar to Chinese stocks. Couldn't find much information on google.
Mutual Funds/Index Funds: A few interested me such as KWEB because I felt it was undervalued relative to popular U.S. index funds. Another one was Vanguards Real Estate Fund. I did consider the S&P500 but at these prices, I'm not willing to put too much as I would when compared to KWEB to Vanguards Real Estate fund. I would consider it regardless but at a much smaller amount, this would change if the S&P500 or S&P500-related index funds came down substantially more. High yield bonds after risk analysis would be something I would also consider. But at this moment I am waiting.
Options Tax Loss Harvesting: I took profit on a few call options on META, but lost money on META puts and calls as well. Could I tax loss harvest from my META puts and calls that expired worthless, and use it towards my capital gains tax on my call options on META that were profitable? I bought them all at the same time and did not buy anymore after.
I would mostly by DCA into these for Q1 2023 up to around $2,000-$6,000. And in Q2 2023 – Q1 2024, plan to contribute $6,000 over that span of time equally. All these are subject to change as I see fit.
Any advice is also welcomed, thank you.
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