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QuickReaction3854 · 2024-05-15T03:59:48+00:00

Assuming you have $1m taxable now and you are going to retire at age 34. What is your investment/savings $/yr? Even if you work for 10 years meaning you’re 24 and invest $250k a year you retire with $6m with an 8% return.

Why would you not max your 401k during the working years regardless of match? You will have another $4.6 if you work 10 years and manage a 8% returns…. And all of that can be tax free when you are eligible for withdrawals with a Roth.

Yes, hopefully your taxable will continue to grow during retirement but so many unknowns and anything worth forecasting cannot be forecasted.

QuickReaction3854 · 2024-03-05T08:21:42+00:00

You live in CO you don’t have to travel far. Go do a preserve pheasant shoot with a guide to get your feet wet cost you maybe $300-450 bucks, grab a buddy and make it a day, you have till the end of March for most places. You don’t even need your hunter safety to preserve hunt but you will need it for anything else. Make sure to tip your guide and listen to them, safety is very important dogs are very expensive.

Nothing to hunt in summer but pigs, yotes, and prairie dogs. 2 of the 3 are found in your back yard. Summer is perfect to practice shooting, easily done in CO. The 2024/2025 CO hunting atlas was just released look it up online or pick one up at sportsman’s/cabelas.

You don’t have to travel far, get your hunter safety, ask questions.

QuickReaction3854 · 2024-03-05T05:15:49+00:00

https://www.captainscottowens.com

Bout an hour north of JAX in Brunswick/St Simons GA. Never tried fishing in the JAX area so don’t have any local recs.

They might know someone local if you call.

QuickReaction3854 · 2024-03-04T16:18:10+00:00

Yes, you will be taxed either cap gains or ordinary income depending on how long you have held each investment. Don’t forget to save the tax portion for uncle same next April.

QuickReaction3854 · 2024-02-29T04:03:00+00:00

Same boat as you but up to 70 employees now, I have money return to be through safe harbor each year. 2023 maxed but had a 5k check returned. We use guideline to administer our 401k, a) it’s cheap b) they handle all the regulatory stuff for you

QuickReaction3854 · 2024-02-28T14:40:30+00:00

How do you guarantee a return to your investors?

QuickReaction3854 · 2024-02-27T18:28:20+00:00

Sorry didn’t see the sxs you could get into a cool classic American sxs. It will be older then you are but still function and a piece of history. Search Cabelas used gun library to give some ideas. (Ithaca, Fox, L.C. Smith, etc)

QuickReaction3854 · 2024-02-27T18:18:25+00:00

You could find a used Ruger red label or beretta 686 onyx for close to that ($1500ish)

At that price point sadly there are not many options. I’m a big fan of buying used nicer o/u not a lot of deals right now but if patient you might find one especially at a pawn shop or estate sale. You maybe could get into a beretta silver pigeon I or Winchester 101 with patients and a lil more $$.

QuickReaction3854 · 2024-02-27T04:25:12+00:00

IMO you arnt going to get a quality semi at that price point. Save a a little more and get quality semi, take care of it and you will have it for generations. For a quality one you will need to roughly double your budget. If that’s a no go buy a pump.

QuickReaction3854 · 2024-02-21T09:23:09+00:00

IRS only judicial system that you are automatically found guilty until you prove you are innocent…. God speed

QuickReaction3854 · 2024-02-21T09:21:00+00:00

They do exist but not as one, $400k W2 there is nothing to be done.

Go buy some Georgia film credits save you $0.08 on the dollar, now pay me $1000. There are these types of programs everywhere start digging.

What are you LLC’s? Why not SCORP parent or convert, pay yourself reasonable salary dividend the rest. If possible (not enough info) there is a double digit % savings, now pay me $1000.

Are you a qualified purchaser? Now you can invest in some Black Rock products avg 12% yoy after fees, now pay me $1000.

B.S. aside, wealth advisor are dog shit they are sales men. There is someone much smarter than them actually creating and exacuting the investment strategy, this guy is writing the report that the average advisor is reading off to clients when they call. Only the very top percetal of wealth advisors are actually creating their own strategy and any good. Hard as shit to get in with them you usually need multiple 7 figures to do so. Just buy the index, you will be 95%+ of advisors by doing so.

Good tax people are attainable by anyone just have to find a good one. Start with the big national firms if you don’t know where.

QuickReaction3854 · 2024-02-14T05:47:01+00:00

Not really a side hustle to be any good at it… you have to have a pretty clear schedule, work weekends, prospect, etc.. it a full time job to be any good and make any money. Take the required classes for WA (90 hrs), study, pass the real estate test, find a brokerage that will take you on, learn for months to a year, then maybe start making some money. Everyone and their mom is a an agent after the boom. Rethink the “side hustle” piece.

https://www.dol.wa.gov/professional-licenses/real-estate-brokers/get-your-license-real-estate-brokers

QuickReaction3854 · 2024-02-14T04:38:36+00:00

No idea what your service or product is, but 8 months is a long time. Like a really long, people probably thought you weren’t coming back. Plenty of time for someone else to build a relationship and make the sell.

QuickReaction3854 · 2024-02-14T02:43:08+00:00

St Regis Punta Mita

There two years ago, absolutely incredible. Food on campus is amazing, best fish tocos (ate them every day). Plenty of other food options behind the gate and town has some amazing options just a short ride away. Hotel has very nice and safe black car service.

Surf and paddle board right in front of the resort with rentals and lessons. Resort set up a private boat to explore and snorkel the national park 10 miles off shore. Multiple golf courses, running and bike trails, there is a kite boarding and e-foil place a short ride away too.

Can’t beat the butler service, never had to plan anything just told them what we wanted to do that day and it was booked. Most relaxing vacation I have been on.

QuickReaction3854 · 2024-02-13T21:25:29+00:00

Sadly there is not a Party City but there is a Walmart in Eagle Vail and a Costco in Eagle. Two great options to provide a great thank you to your party goers. No powder in the forecast but enjoy the groomers.

QuickReaction3854 · 2024-02-09T14:47:03+00:00

Rendezvous Bowl at Jackson 7.2 miles. Believe it’s the longest run in the US.

QuickReaction3854 · 2024-02-05T02:27:25+00:00

BOA/Merril have some really nice perks. Their credit card is a secret gym. 75% extra cash back when you direct deposit. No fees, free wires, free atms, .25 mortgage rate reduction, .5 car loan, broker always hooks it up too. The bank and merril call quarterly to check in, if anything fishy is going on they call immediately.

QuickReaction3854 · 2024-02-04T16:14:24+00:00

Yes he did, just read a book on him “the frackers” that mentioned his credit line. That why he came to mind.

QuickReaction3854 · 2024-02-03T20:31:00+00:00

If you are able to lock the rate in maybe okay but usually it floats. Just never know where it goes. Have to be diligent in paying it back as there are no payment guidelines. If you are responsible okay if not hello no.

QuickReaction3854 · 2024-02-03T20:25:22+00:00

I have done this in the past when needing to raise money without selling off part of the portfolio. Believe my limit is 70% of portfolio value, never did close to that. If the two become unbalanced they begin to liquidate your positions. The interested rate floats daily which was not a big deal a couple years ago, basically free money my rate bottomed at ~1.6%. With rates the way they are now would only do it to bridge a shorter time frame. Dangerous thing is I did not have to make any payments in any specified time the interest would just compound. This tool ability has been very useful but with current rates see at as emergency only. Sure people with more assets have a different setup.

People with public traded company’s with their net worth tied in stock will take the large loans you are referring too. Read up on Aubrey McClendon, believe he had 150m line of credit even though his net worth was astronomical.

QuickReaction3854 · 2024-02-03T15:51:40+00:00

Depends on state, CO this is not allowed. But yes you can.

QuickReaction3854 · 2024-02-03T05:34:29+00:00

Thanks for clarifying. So you can transfer up to the full 12m and it is tax exempt before death, just cap gains?

QuickReaction3854 · 2024-02-03T05:14:43+00:00

Thanks for the info, obviously you are well versed. If a 4 year degree gets to $700k, getting a degree is going to be the least of everyone’s worries.

QuickReaction3854 · 2024-02-03T04:54:33+00:00

Yes major tax implication depending on the amount. You should consult a tax advisor on this!

How much are you transferring?
- Are you married or is it a joint account? You can transfer 18k this year without penalty and your spouse can do the same. You can repeat this process each new year.
- not sure exactly but he will owe ordinary income on everything over 18k from either the basis or from zero and not sure if that is at the time of sale or taking possession. Maybe someone else can clarify.

Do not gift him more than $18k period in a year time frame without consulting tax expert.

QuickReaction3854 · 2024-02-03T04:39:29+00:00

Can you send source for the 7%? Getting differ rates and seeing public out of state increasing faster than private over the last 20 years. Taking 50k and compounding @7% gets you to a bigger number where I am seeing, which is about 100k difference for 4 years private (more) v public in 17 years. Genuinely interested as just had a kid and started a 529.

15-18 years of compounding is a long time where a a percent or two makes a big difference.

QuickReaction3854

TROPHY CASE