Let’s imagine, if you will, that you have a large (50% of your total assets) payment to make, to a past mistake in your life.
would you wipe out 75% of your 401k and 90% of your brokerage.
or would you sell your paid for homes, and keep about 85-90% of your investments? You are 57 yrs old.
yes I know I should, and will, consult my investment guy, but I feel there’s some folks here that could have some respectable comments.
Morally Flexible. Kinda.
I know a Sicilian who might be able to help your situation . . .
@joe_hoopsier My wife if 1/2 Sicilian. Her dad is looks like a guy straight out of an Italian mobster movie. His dad said he knew guys who ran around with Capone mobs (he was a straight arrow).
What do you think Dave would say?
I'm thinking he would say dump the houses. I think. And I think that is the answer, but I am actually asking opinions.
As a side note, I am thinking of dumping the investments NOW (short term). Build a new house on a piece of dirt I own myself, then sell the houses and put the money back.
It makes her go away now, and in 4-6 months I can have basically the same investment position. So I loose 4-6 months of any $ gains.
I'm probably thinking to much about it. Your opinion UncleDave?
Morally Flexible. Kinda.
I'm thinking houses first, brokerage second, and 401K last.
Where would you live? Shack with #1?
@unclemark That's probably the correct answer, thanks for that.
#1 (legacy) would love that actually. Maybe short term rent here while I build or do what I really want and call Bama home. It's not worth much but it makes me drun.. Happy.
Morally Flexible. Kinda.
@Sammy LOVE the new Gif button ! ! !
Morally Flexible. Kinda.
I'm thinking he would say dump the houses. I think. And I think that is the answer, but I am actually asking opinions.
As a side note, I am thinking of dumping the investments NOW (short term). Build a new house on a piece of dirt I own myself, then sell the houses and put the money back.
It makes her go away now, and in 4-6 months I can have basically the same investment position. So I loose 4-6 months of any $ gains.
I'm probably thinking to much about it. Your opinion UncleDave?
Dump the property, save the investments, live somewhere cheap for a while.
Dump the property, save the investments, live somewhere cheap for a while.
Funny that the two poorest bastards on the board are the ones responding.
Let’s imagine, if you will, that you have a large (50% of your total assets) payment to make, to a past mistake in your life.
would you wipe out 75% of your 401k and 90% of your brokerage.
or would you sell your paid for homes, and keep about 85-90% of your investments? You are 57 yrs old.
yes I know I should, and will, consult my investment guy, but I feel there’s some folks here that could have some respectable comments.
1. sell everything.
2..Get fake passport.
3. Move to Costa Rica.
@joe_hoopsier
It all depends on where you want to live. At 57…that should decide everything.