billryan
billryan
Joined: Nov 2, 2009
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January 26th, 2021 at 9:03:52 AM permalink
Quote: AZDuffman

Many condos do, but they are small and just hold the car for the most part. Point is it is not like a house with a garage where you might do regular projects.




You really have no idea what you are talking about here. Many Vegas Condos have two and three car garages. I even looked at one that each unit had a three car garage plus a pull down stair ladder into a loft/attic.
One member here uses his two car garage as a workshop for his carpentry hobby.
Perhaps condos with garages are rare in other places but not in Vegas.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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January 26th, 2021 at 9:09:17 AM permalink
Quote: AZDuffman

But an issue on a condo is if the HOA decides to make improvements and charge extra you gotta pay. If the HOA defaults you are liable.



And now if my fancy garage floor needs to be redone. $3k
Roof. $15k
AC unit. $3k
Sewer line. $6k.
Etc.....

Maintaining a house is not cheap.
billryan
billryan
Joined: Nov 2, 2009
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January 26th, 2021 at 9:41:00 AM permalink
Quote: SOOPOO

You do realize that if it was 100% sure that you would repay the loan, paying 2% over say the next year, you would get access to thousands of investors willing to loan you that million. The federal government, who can just print more money, only pays less than 0.25% now.

Your premise is that Ace2 will need to invest in stocks, or bonds that carry default risk. I agree with you that doing so the EV is substantially over 2%. But comes with substantial variance.

I am retired.... and depend on the income from my saved money like Ace2 will. Exactly what % to Ďdependí on is a very complicated decision.

As far as condo versus house.... condo fees are X. Upkeep on a house is Y. Sometimes X>Y. Sometimes Y>X.




I've been living off the income my nest egg generates since 2015. Some of it is locked in, some of it varies. I made a decision years ago to buy ATT stock. While I know what I paid for it, it doesn't really matter, nor do I care what it is selling for today. All I care about is it pays about $16,000 a year in dividends and has never lowered them. Now that I hit 62 and will start getting SS in two weeks, I have my basics covered. $30,000 a year without touching my principal means I should never have to live near poverty, nor outlive my money. I currently have several other income streams and even though I strongly suspect I have much more than I'll ever need, I still try to save 15-20% of my income.
In Eighth grade, we learned in school that one's retirement should be a three legged stool, with SS as one of the stools. I remember telling my uncle that and him laughing. He said picture retirement as a Viking ship with many oars in the water. Build your ship, man the oars and when you hit the open ocean let the sails do all the work.
You are about the same age as me. Just because you retired from being a Doctor doesn't mean you can't earn more money.
My Cardiologist retired a few years back, was always into classic British sports cars and soon realized he could make serious money by flipping them. While I'm sure he isn't making anywhere near what he did before, he enjoys it, it pays for a couple vacations a year and instead of drawing down his retirement funds, they are still growing.
billryan
billryan
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January 26th, 2021 at 10:11:02 AM permalink
Investors Business Daily had an article on Monday about how to get $100,000 a year out of a $1,000,000 nest egg. They offered several options and the worst came in around $60,0000 a year and the best was about $120,000.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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January 26th, 2021 at 11:29:24 AM permalink
Quote: billryan

Investors Business Daily had an article on Monday about how to get $100,000 a year out of a $1,000,000 nest egg. They offered several options and the worst came in around $60,0000 a year and the best was about $120,000.



All presuppose no market severe downturn. I far exceeded both those rates of return last year. I in no way would expect to do that again this year.

Your AT &T example... What if you had picked Boeing? Or Delta? Or GE? Or Citibank? All 4 of those a few years back seemed invincible, with good dividend pays. My point is ANY stock has some risk.

Some people are naturally entrepreneurial (you). Some are not (me). I was REAL GOOD at running my anesthesia group, maximizing income, negotiating contracts with insurance companies, hospitals, surgicenter, etc... But I donít think Iíd want to put the effort and work into flipping cars... or comic books... or real estate....

I planned on saving X. With a pension of Y. And living off the combination of income generated from X + Y. Add SS at some point. Iím there.
Ace2
Ace2
Joined: Oct 2, 2017
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January 26th, 2021 at 11:41:31 AM permalink
Quote: billryan

Investors Business Daily had an article on Monday about how to get $100,000 a year out of a $1,000,000 nest egg. They offered several options and the worst came in around $60,0000 a year and the best was about $120,000.

If you have a minimum 30 year timeline, you MIGHT be able to get that average 10% per year in the stock market, with several negative years. 8% is more realistic, call it 5% after inflation. However, that is for a young person, not a retiree with a shorter timeline and a large portion of his portfolio in very low-risk fixed income (on which he earns close to zero )

Wasnít that the publication with the article about ďpositive EVĒ PowerBall jackpot ?
Last edited by: Ace2 on Jan 26, 2021
Itís all about making that GTA
MDawg
MDawg
Joined: Sep 27, 2018
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January 26th, 2021 at 12:36:12 PM permalink
I've always thought about buying a high rise condo near the Strip, but not to live in full time. For my taste it gets too hot in the summer and then too windy and cold in winter. Of course I am comparing to Southern California.

Sometimes I don't mind being in 107 degrees heat but not for days on end.

Then again, a lot of retired people like Palm Desert, CA which is just as hot if not hotter than LV but the ones who may afford it leave to their other homes during the summer months.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
billryan
billryan
Joined: Nov 2, 2009
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January 26th, 2021 at 2:06:11 PM permalink
Quote: SOOPOO

All presuppose no market severe downturn. I far exceeded both those rates of return last year. I in no way would expect to do that again this year.

Your AT &T example... What if you had picked Boeing? Or Delta? Or GE? Or Citibank? All 4 of those a few years back seemed invincible, with good dividend pays. My point is ANY stock has some risk.

Some people are naturally entrepreneurial (you). Some are not (me). I was REAL GOOD at running my anesthesia group, maximizing income, negotiating contracts with insurance companies, hospitals, surgicenter, etc... But I donít think Iíd want to put the effort and work into flipping cars... or comic books... or real estate....

I planned on saving X. With a pension of Y. And living off the combination of income generated from X + Y. Add SS at some point. Iím there.



Congratulations . You had a plan,and a goal and you achieved it. You've retired with the assets you wanted. Now what? Playing pickleball and vacationing gets old fast, or at least it did for me. Everything in life comes with some risk. Being retired or semi-retired doesn't change that.
terapined
terapined
Joined: Dec 1, 2012
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January 26th, 2021 at 2:22:08 PM permalink
Quote: billryan

Congratulations . You had a plan,and a goal and you achieved it. You've retired with the assets you wanted. Now what? Playing pickleball and vacationing gets old fast, or at least it did for me. Everything in life comes with some risk. Being retired or semi-retired doesn't change that.


I'm recently retired
Loving it.
Living the dream
I travel all over the country seeing everything there is to see. Been doing it for 6 months. Having the time of my life. I've barely scratched the surface. So much too see.
Short term heading to Utah for the national parks after I wander around Arizona.
Heard about a massive crater in NE AZ. Definitely want to see that.
I try to visit anything interesting including of course Bisbee. Nice town.
"Everybody's bragging and drinking that wine, I can tell the Queen of Diamonds by the way she shines, Come to Daddy on an inside straight, I got no chance of losing this time" -Grateful Dead- "Loser"
billryan
billryan
Joined: Nov 2, 2009
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January 26th, 2021 at 2:32:39 PM permalink
Quote: Ace2

If you have a minimum 30 year timeline, you MIGHT be able to get that average 10% per year in the stock market, with several negative years. 8% is more realistic, call it 5% after inflation. However, that is for a young person, not a retiree with a shorter timeline and a large portion of his portfolio in very low-risk fixed income (on which he earns close to zero )

Wasnít that the publication with the article about ďpositive EVĒ PowerBall jackpot ?




The stock market is one egg in a diverse basket. If you are an accredited investor, there are a myriad of better opportunities.
Stick with grandpas investment strategy and you should expect to live out your days as most Seniors did in the 60s and 70s.
If a large portion of your portfolio is in investments that earn close to zero, that's on you.
We are in the middle of a worldwide pandemic, unemployment is high, and a third of the country seems to want a civil war, but the stock market is setting new highs, real estate and housing prices are the best in a decade and sales in the collectible industry are through the roof. Does this seem like a good time to have your money earning zero? Perhaps you should think about why you are so afraid of risk?
It's well over a generation since savings accounts were worth owning, yet the vast majority of people have still them, and think they are a safe investment. You worked for all your money. Now let your money work for you.

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