On 1/13/2018 4:33 AM, Mr. Luddite wrote:
On 1/12/2018 8:01 PM, Alex wrote:
amdx wrote:
On 1/8/2018 6:29 PM, Alex wrote:
wrote:
On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote:
amdx wrote:
and hey, how about the stock market?
I should do well under the new tax law, looks like I'll qualify for
the pass thru, knocking off 20% of my business income from being
taxable.
and a Standard deduction of $24k, what's not to like.
Â* I'll will lose two child deductions, but I would have lost one
anyone, she's getting married.
Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek
My 401K hit seven figures shortly after President Trump was
elected and
has grown even more.Â* I'll have to see how it affects my paycheck.
The
new rates won't be active until next month.Â* If this continues I
might
be able to retire at 55!
===
I've been moving into more conservative, and more diversified assets
in anticipation of a market pull back.Â* I'd suggest keeping your job a
bit longer if you enjoy what you're doing.Â* Inflation becomes a real
risk once you stop working.
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I'm realistically looking to retire by 60.Â* I've got a few IRA's and
some non-retirement investments, too.Â* I don't want to have to watch
the market all the time to feel comfortable.
Investing new money is challenging right now with the market so
high. I'm looking more and more at real estate.
Many people do well with real estate, but if you buy rentals you are
buying a job. 20 some years ago I had 5 rentals, I did well with them,
but when I moved out of state I sold them all, and at 62 I have zero
interest being on call to do repairs or maintenance.
Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â* Mikek
I'm looking at land.Â* Residential lots in SW FL and some acreage in
Central FL.Â* All would be held in an LLC but I need to find out if I
still need to carry liability insurance in case some idiot trespasses
and gets hurt.
I would never be a landlord for the reasons you mention.
Me either.Â* We purchased two "extra" houses in the past but never rented
them. My mother lived in one of them for several years until she had to
move into assisted living.Â* My youngest son and his wife lived in the
other for a while after he was discharged from the Navy and they were
getting their civilian life going.
We ended up selling both but "held the paper" meaning we hold the
mortgages.Â* They are conventional, 30 year notes with interest at the
prevailing rates at the time they were written.Â* I think one is at 6.5
percent and the other at 8 percent.Â* Neither buyer has ever missed a
payment and we make all the interest the bank would normally make over
the term of the mortgage.Â* The buyers pay for taxes, insurance,
maintenance, etc. just like a regular bank mortgage.Â* We only pay income
taxes on the interest, not the principal.Â* They provide a nice little
addition to our income every month.
I'm holding paper on a property collecting 8%.
Family member wanted to borrow money to buy a property,
I told my wife if she wants to lend money that she needs to get her name
on the deed. So we were 1/3 owner, after a couple years the 2/3 owner
wanted out. we got a little discount and were full owners. For a couple
years we collected 11%, then when we renewed the contract I dropped it
to 8%. It has a couple more years to go. I'm tempted to cash out, but
it's money every year and all I need to do is cash the check. The buyer
has made great improvements to the property and even bought more land
around it. It is part of a church, so I feel it is pretty safe and even
with a default it's more valuable then when we sold it.
Mikek