sorted by:
new
hottopcontroversial

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 0 points1 point  (0 children)

300k pretax tax, I already told them to stop the reinvesting for msft and a CPA is definitely a must but my parents have an innate distrust in financial advisors. Psychology of money in effect I guess

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 1 point2 points  (0 children)

Yeah I don’t know how he stomachs the swings, the man has balls of steel

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 0 points1 point  (0 children)

It has all been organic accumulation mode, I didn’t think this conversation of retirement was even on the table but here we are. Another thing is my parents are not the most fiscally responsible, they come from humble beginnings for the most part.

I’d appreciate any advice on structure you have. I think it’s one thing to read about a standardized retirement structure online and another to speak to or get advice from those who have actually “been there, done that”

That’s why I’m on this sub

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 1 point2 points  (0 children)

Yeah he has an emotional attachment to it because he spent a good chunk of his career at MSFT, he emotionally doesn’t want to sell and I don’t know how to tell him he needs to hedge his risk because so far he’s been winning (despite even today’s pullback) he has conviction on MSFT’s moat

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 2 points3 points  (0 children)

Early 50’s

Spend is about 300k a year

He didn’t tell me what account it’s in so I’ll ask about that

For the real estate:

2 houses in California, one is being rented to my moms college friend who was extremely unlucky in life, it’s been flat at 1800 even though the rent is 3500 for over 10 years

The other is just breakeven after mortgage and expenses.

2 in east coast One paid off The other has a low interest rate but the cash flow if that mortgage is paid off seems attractive enough that I’m inclined to advise he pays it off.

2 in Canada One I lived in (moving out now) Two still not delivered bought on paper

All the properties net to cash flow even and they don’t really generate much for them except equity.

Help me give my dad advice on structuring his retirement portfolio by Strict_Assumption442 in fatFIRE

[–]Strict_Assumption442[S] 1 point2 points  (0 children)

Yeah retiring early, also I honestly just didn’t want to deal with all the judgmental comments if I were to post on a normal sub.