O nice. There are some agents in australia who sell and look after us properties. They take care of financing also. Theres a lot of interest from australians looking to buy property in the us because of the exchange rate. Which has increased like 30% in a relatively short period. Investing in etf would also be an option. Although if u buy individual houses, extra research can lead to more gains, depending on ur skills as a real estate investor. Well the money was mostly from parents. Although i also did pretty well in equities. Just worried about the sustainability of the current rally. I wish i had the experience and exposure ur having at your job. You’re very lucky.
Ya im on the iphone also jcole. Thought u said etf instead of reits. Haha. My mistake. Considering buying reits also. Looking at one atm actually. Australian listed but investing in the us.
Fvck a Viper. Buy an Ariel Atom and a raincoat.
Atoms are ghey. At least if you’re going that route get a crossbow or radical. If you look at the atom’s high speed stats (100-160mph, where most real racing takes place) including acceleration, handling, etc, it’s garbage. Atom is just a high performance go cart showcased in conditions favorable to it’s profile. Even above 50 mph the zo6 and viper are reaping it in hard based on splits. Plus, at least the other cars named pretend to hav some sex appeal. Like I said acr kills even from an appearance standpoint at 100k flat.
AndyPettitteIsGreat Wrote: ------------------------------------------------------- > I graduated from college in 2008 with $10K in cash > and $17K in student loans, a net worth of -$7K. > > I worked in the back office for 2 years while > living with my parents in Queens and paying down > my debt. I moved to Manhattan this July and got a > job in the front office. > > During this time, I made some investments that > paid off, now I have $105K in my ROTH IRA / ROTH > 401K, $40K in my brokerage account, $10K cash, and > all student loans paid off. I have maxed out my > ROTH 401K / ROTH IRA for the past 2 years, and now > I have to decide if I want to do this again for > 2011. Am I saving too much for retirement? > > I am asking because I fear that if I want to buy > property in NYC, or even start a business, I would > not have enough liquid assets to do so, since much > of my net worth is in my retirement accounts. No offense - but your numbers sound a little inflated unless your parents or someone else handed you some cash after graduation. Assuming you graduated in June of 2008, you’ve only been working for 2.5 years. Even assuming the entire 105k in a non-roth ira account (pretax in a non-roth, your income would have to be even higher if it were in a roth), plus the 40k in brokerage (which equates to 70k in pre-tax income). You would have had to have made 175k in salary in 2 years and not have spent a single penny to have that brokerage account and retirement account. Including the payment of student loans you would have had to make a six figure salary for both of the years straight out of college and not spent a single cent. Congrats if this were the case. Besides that though - if you have the money in a 401k you can borrow against it for a down payment on your first house. You just pay it back with interest but everything (including the interest) goes back to yourself. There’s really no such thing as saving too much for retirement.
verse214 Wrote: ------------------------------------------------------- > AndyPettitteIsGreat Wrote: > -------------------------------------------------- > ----- > > I graduated from college in 2008 with $10K in > cash > > and $17K in student loans, a net worth of -$7K. > > > > I worked in the back office for 2 years while > > living with my parents in Queens and paying > down > > my debt. I moved to Manhattan this July and got > a > > job in the front office. > > > > During this time, I made some investments that > > paid off, now I have $105K in my ROTH IRA / > ROTH > > 401K, $40K in my brokerage account, $10K cash, > and > > all student loans paid off. I have maxed out my > > ROTH 401K / ROTH IRA for the past 2 years, and > now > > I have to decide if I want to do this again for > > 2011. Am I saving too much for retirement? > > > > I am asking because I fear that if I want to > buy > > property in NYC, or even start a business, I > would > > not have enough liquid assets to do so, since > much > > of my net worth is in my retirement accounts. > > > > No offense - but your numbers sound a little > inflated unless your parents or someone else > handed you some cash after graduation. > > Assuming you graduated in June of 2008, you’ve > only been working for 2.5 years. > > Even assuming the entire 105k in a non-roth ira > account (pretax in a non-roth, your income would > have to be even higher if it were in a roth), plus > the 40k in brokerage (which equates to 70k in > pre-tax income). You would have had to have made > 175k in salary in 2 years and not have spent a > single penny to have that brokerage account and > retirement account. Including the payment of > student loans you would have had to make a six > figure salary for both of the years straight out > of college and not spent a single cent. Congrats > if this were the case. > > > Besides that though - if you have the money in a > 401k you can borrow against it for a down payment > on your first house. You just pay it back with > interest but everything (including the interest) > goes back to yourself. > > There’s really no such thing as saving too much > for retirement. the truth has been spoken
@verse - you cant always borrow against your 401(k) for the down payment on a house. The 401(k) has to actually have a provision for borrowing. There are many that do not have that provision built in.
verse214 Wrote: > No offense - but your numbers sound a little > inflated unless your parents or someone else > handed you some cash after graduation. > > Assuming you graduated in June of 2008, you’ve > only been working for 2.5 years. > > Even assuming the entire 105k in a non-roth ira > account (pretax in a non-roth, your income would > have to be even higher if it were in a roth), plus > the 40k in brokerage (which equates to 70k in > pre-tax income). You would have had to have made > 175k in salary in 2 years and not have spent a > single penny to have that brokerage account and > retirement account. Including the payment of > student loans you would have had to make a six > figure salary for both of the years straight out > of college and not spent a single cent. Congrats > if this were the case. > Capital Gains. Investing in Leveraged Mutual Funds in the beginning of 2009 really works wonders.
AndyPettitteIsGreat Wrote: ------------------------------------------------------- > verse214 Wrote: > > No offense - but your numbers sound a little > > inflated unless your parents or someone else > > handed you some cash after graduation. > > > > Assuming you graduated in June of 2008, you’ve > > only been working for 2.5 years. > > > > Even assuming the entire 105k in a non-roth ira > > account (pretax in a non-roth, your income > would > > have to be even higher if it were in a roth), > plus > > the 40k in brokerage (which equates to 70k in > > pre-tax income). You would have had to have > made > > 175k in salary in 2 years and not have spent a > > single penny to have that brokerage account and > > retirement account. Including the payment of > > student loans you would have had to make a six > > figure salary for both of the years straight > out > > of college and not spent a single cent. > Congrats > > if this were the case. > > > > Capital Gains. > > Investing in Leveraged Mutual Funds in the > beginning of 2009 really works wonders. Yo dawg, I herd leveraged mutual funds are limited to 35% leverage, so lyke, thats insane if it’s true. In any case, assuming you’ve returned 100 or 150% you had to have had at least 15k to put into the market when you were “paying down debt.” I know living the 'rents makes bank though so who knows.
In my PA I only owned two stocks at the begining of 2009: ENOC and ILMN. ENOC went from like $6 to $30, but I sold at about $18. Too bad I didn’t have big money in my PA, I always go for the sure “tax alpha” with the 401k.
this is a good thread.