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The only thing I don't like about Rental property or just Property in general is all the taxes and upkeep.
there are write offs that you won't get with stocks. If you don't feel comfortable with owning actual real estate,
you can purchase a REIT, real estate investment trust. A real good one is Realty Income Corp, trades under the
ticker "O" on NYSE. I believe they are the largest REIT now. They pay dividends and have never failed on that.
In fact they increase their dividend over time and have never decreased the dividend. The CEO was explaining
their business model to me one time and it's no wonder they are such a great company.
The Shop
Because being a "financial advisor" in and of itself does not make them worth their fees.
I know a lot of wealthy folks who wouldn't give 5 min to so call CFPs that most of us have
access to.
TM
I'll also add, make sure they have the same goals as you do for your money.
Wall Street is full of crooks, liars and cheats. I'll never put 1 cent more than I have to into that ponzi scheme.
It's at 18,000 right now? Expecting it to go higher or are you betting on a crash? Maybe the power players can manufacture another crash. fuckers.
At least if the world's markets kill themselves again you'll still own property. Property is a limited commodity.
1, not one of you read his second post, real estate is out of the question.
2 none of you truly understand annuities.
3 CFP is a worthless title thats helps a client feel better about the adviser they hire.
I have lic in Fl, call me I'll give you all the free advise you need.
If you walked into my office after inheriting 2 mill nd told me you wanted to rent it out, I'd ask why? Don get me wrong, I have rental units, but its a partnership deal I do with 3 other guys.
I would say, why wouldn't you take that 2 million and let it work for you instead of you working on rentals? wouldn't you rather put 1 million in a income growth annuity and pull 60k a year off it and put the rest in an aggressive fund and let it grow for 10 years and retire without a care instead of dealing with rentals?
2. False
3. False
Some downsides for the investor:
- Generally much higher fees than comparable mutual funds and especially ETF's.
- Gains are taxed at ordinary income rates rather than capital gains rates.
- No step up in cost basis upon death meaning a potentially huge difference in tax burden that your heirs will assume
If you want to talk about the great safety net that the guarantees provide, please also show me a specific time period where someone with a few million wouldn't have come out better by simply staying in stocks and riding out the downturn.
Pit Row
He needs to receive a monthly check to pay for the care of her, don't know if any of you have any idea of what a decent home cost for a person in her shape, but it isn't cheap. He needs the money to continually grow, depending on his mother in laws age, a home will burn through that amount in 8 to 10 years. If the money is gone from a bad investment, and they are unable to pay for a home, but the state requires her to have full time care, the state will come after his personal estate to pay for it.
So what do you do?
2. False, its qualified money, he will pay regular dividends rates.
3. its under 5.5 million, his heirs wont pay a dime.
Again, he needs an income to pay for the care of his mother in law,.
And I'll stick to my opinion that most of you have no idea about annuity outside of what insurance guys sell.
2. Either I'm confused or you are, so to make things clearer, can you please show me an annuity where withdrawals are taxed at capital gains rates rather than income tax rates?
3. You're talking estate taxes which have zero to do with what I'm referring to. When you inherit an annuity you inherit the original cost basis rather than the stepped up amount you would receive with stocks, mutual funds, real estate, etc, meaning it will be much costlier when it comes time to sell.
2.In his case, he is using after tax dollars, it will be taxed as capital gains. You're thinking of a tax deferred annuity. There is a lot more to the annuity word then what an insurance guy can sell you.
3. No, again, it depends on the annuity product you invest in. Again, there is a lot more to the annuity world then what some guy selling insurance can get.
If you don't annuitize and you simply begin withdrawing money, you are able to withdraw up to your cost basis without incurring taxable income issues. After that, ordinary income, which means every dollar withdrawn from a pretax contract is taxed.
Post a reply to: Inheritance question.