Real estate is booming right now! Very ripe for selling. The rental market is shaky with so much unemployment but every situation is different of course. Good luck!
I have a brother-in-law who bought 11 fairly upscale rental homes in Fl when they had the housing recession early 2000s, has really paid off for him despite paying management fees. Timing.
My Roth IRA is maxed and my 401k is not maxed. I put 15% of my paychecks in 401k.
I also open new accounts (savings, checking, credit card) as a side hustle. Plan on taking advantage of the Chase offer soon. Capital One money market has been great.
I like those advising only max up to the 401K match, needed cash flow to live some, keep my wife and me happy with travel, etc, and that’s what I did in my working days. I built up a Roth and a taxable brokerage account with spare Cash for buying/selling stocks since only mutual funds could be selected for 401Ks back in those days. That was how I learned to invest, had to pay those pesky capital gains’ taxes, but used the $100,000 I slowly built up to supplement my pension at retirement age 59 for me. I rolled over our 401Ks into IRAs, have had lots of tax free trading fun with those.
He lives in a very nice gated community in Lakeland, Fl, know he bought 4 or 5 homes there, fairly new at the time, not sure where he bought the other units, 11 total with plans to leave 8 of them to two daughters. Knowing him, he was very careful selecting a top property manager. Lakeland’s location is ideal, little hurricane damage being inland and attractive to those doing business in Tampa or Orlando. He had a couple of rental properties when he lived in South Bend, so he was experienced.
Small world. My little brother owns rental property in Lakeland, FL. He's also a Publix employee.
Visited a store near by a few times, I believe it’s very close to their home office.
Bull not in control, IMO, too much uncertainty, don’t think a pure Bear is lurking, just big swings up and down until a vaccine happens. Covid is in control, Cramer this AM was amazed how fast several stay at home stocks sold off just because vaccine test results look good...way too early to know anything, I’m holding to most of those, though not over buying them either, just getting a mix of stocks. I suppose bonds are ok to mix short to mid term, but beware them when interest rates inevitably go up.
Love the hustle in this thread. [smoke]
I think it could be choppy until a vaccine comes about. Possibly another leg down around election time but longer term the best of the best company's will prosper no matter what. So 60/40 seems very reasonable to me for someone over 40. One thing I would never do is get completely out of stocks. They just seem to move so quickly and makes it almost impossible to time.
Great position to be in, a bout with cancer in 1993 helped me to decide not to wait longer than I needed, wanted to enjoy retirement and have done so since 2007. Some friends prefer working and staying busy, no hobbies, that’s fine, too.Love the hustle in this thread. [smoke]
I hear ya lz! I didn't fund my IRA's at all like I normally do around tax time. Too much uncertainty and cash is king!
We contributed all year to our 401k's and the wife's Roth though. And yes, up to the match with the 401k's with more money in cash and in the TD trading account. Those reserves are up to about 17% of our retirement assets meaning I have the possibility of retiring soon if I want to.
I was 100% stocks for my complete investing experience until I hit 60. I will be 66 in September and this move was more about protection than growth.
Today was ok for me. Bonds earned more than my stocks lost. More states shutting down. Schools not likely to open. College football looking more like a no compete. 1.3M workers filed new unemployment claims. Airlines asking for more bailout money. UA to layoff 36k. AA to layoff 25k. Delta hopes to avoid layoffs with 17k volunterring for a buyout. Southwest which has never had a layoff says it will be hard to avoid. The current $600 weekly unemployment supplement comes to a halt on 7/25. Congress back in session on 7/20.
And I suspect Bucket’s head is in a bucket because his index funds got nailed the last 2 days.
He's been with Publix for 21 years, 3 years at corporate. He started as a bag boy. Worked into a produce position. Managed a produce dept at an Orlando store for several years. Moved into district management and finally to corp office.
Check out Doctor of Credit regarding savings, checking account and credit card hustles or churning. I've earned $516 in bonuses over the past 2 years. I could earn more if I really applied myself and tied up more cash. Mr. Money Mustache Share Your Badassity is another good resource.
