Brace yourself! I am very against 401Ks because you can only choose from crappy option that have heavy fees. I don't really like Self Directed Roths or any tax sheltered retirement…
This is the first property in a series (1 out of 9) of acquisitions that resulted from a couple 1031 exchanges. If this is your first time reading this post…
“My wife is officially is quitting her job at the end of this year. Thanks for helping us be able to do that. One of her friends had to go back to work 10-weeks after having their second kid because they need her income to pay the mortgage. It makes me cringe just thinking about that.” –Hui Deal Pipeline Club Member
The typical SimplePassiveCashflow tribe member asks a lot of questions..
Why do I have to work 40 years at my JOB? Why do the wealthy always get ahead? Why do I stay up late at night reading Quora?
Alexa, why does Dave Ramsey think I’m dumb? (Revisions below)Are you broke? Don’t have $20,000 to start buying a rental – learn here.
I know I was beating the drum of the Turnkey rental a few years ago but now investing in Syndications. (Turnkey rentals are not passive and still a PITA) I am admittedly a work in progress and this website/podcast is my journey.
Mainstream investing (401K, stocks, mutual funds, 529, IRA, or anything retail) is based on investing for appreciation. You know buy-low-sell-high …. usually based on factors wholly outside an investor’s control.
Then one day (when you are grey and immobile) retire and live off your nest egg at 4% withdrawal rate. We (us sophisticated investors) call this gambling not investing.
Buy-low-sell-high trading mentality encourages the churning of holdings … which generates commissions and short-term capital gain taxes. Which is another reason why we do not like commission based Financial Planners or Registered Agents. Some of these guys use hard-selling techniques. If they make enough phone calls, eventually they get someone to purchase a stock and make their commission.
“Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway” -Warren Buffet
In case you have not seen this whole financial world is an engineered system by Wall Street firms and the government which protects them, to prevent Main Street investors to building enough passive retirement income in you 30s/40s as opposed to your 70’s. The mainstream financial news never talks about yields (coming from cashflow – income minus expenses). Discussions focus in the context of share prices. It’s pattering you to think buy-low-sell-high. Churn and cha-ching for those executing transitions in the industry. And for most people who are confused and freeze that’s why there is a hidden asset management fee which is an above the line expense to you.
The secret… Is not about appreciation but cashflow. Creating multiple mini-pensions today as opposed to hoping and praying you have enough to deplete from during your dying days.
Link to ULTIMATE SPC 1031 GUIDE Link to ULTIMATE SPC TAX GUIDE https://www.youtube.com/watch?v=nBQfXrk-TZw 11 Not So Obvious 1031 Exchange Strategies My promise to my readers: No click bait here…
I was a guest on the Joe Fairless Podcast, how I got started, and a bit about turnkeys and trench drains https://www.youtube.com/watch?v=USfnofwIHJs
Link to ULTIMATE SPC 1031 GUIDE Link to ULTIMATE SPC TAX GUIDE Learn how/why I got out my high priced Seattle (Appreciation) market and into 9 Properties In 5 Months…