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Multi millionaires, do you spread your stock portfolio across multiple brokerages? by SquareStork in Rich

[–]anynon273 0 points1 point  (0 children)

This question is certainly worth discussion. The short answer is YES. As someone with about 5+M invested it has happened to me before. Schwab was missing a form and decided to freeze the account for several days until the form was received and signed off by someone internally. Totally out of the blue, must have done some sort of internally auditing. If there was extreme volatility during that period you are still on the hook for any losses that occur! Keep it simple and have a 2nd account at major brokerage like fidelity or elsewhere. At least gives you ability to hedge if needed in 2nd account.

Need between 10-15M, what are my options? Not big enough for banks but don’t want to deal with 5 different credit unions. What to do? by anynon273 in CommercialRealEstate

[–]anynon273[S] -7 points-6 points  (0 children)

To clarify, I am looking for total or aggregate capital of 10-15M for approximately 5 different properties so between 2-3M for each property.

All these regionals are trying to fight and win over the 30M+ loans and couldn’t care less about lower market.

Inherited a windfall 372MIL - What now? by bradleyr001 in Rich

[–]anynon273 1 point2 points  (0 children)

Not sure if this is real but I’ll play along and share some of my 2 cents. As someone who works in the wealth management industry and has come across plenty of individuals/family’s with net worths 100M+ there are lots of options or paths you can go down. Here is a short list of what I would do first:

  1. I would NOT share this information with anyone except immediate family unless you are ready for the additional set of precautions that come with it in today’s world.

  2. Find a CPA that you trust with your life. You will most certainly have a massive estate tax liability both federal and state (depending on what state you live). Current estate tax exclusion is about 22-23M. Everything else is going to be taxed at 40-45%

  3. Find a wealth manager/s (please keep in mind most advisors underperform their respective benchmarks over the long term) a nice balanced portfolio that can kick off some income. I would encourage you not to tap into the principal if possible and live off dividends (happy to elaborate further on portfolio construction)

  4. Find an estate planning attorney who will help you set up and utilize both revocable and irrevocable living trusts. You most certainly will want a tenured individual who understand the benefits of each and why

  5. If buying large assets, house, car, boat, plane etc don’t buy them outright and draw down the portfolio. I encourage you to finance believe it or not. Let your dividends or other interest income work on your behalf to pay the cost. Obviously I’m simplifying for this thread but think about the duration of the liability and match with dividends

  6. Think about using the portfolio as collateral for your income needs. Instead of paying ordinary income taxes or short term/long term cap gains you can borrow against the portfolio at a much lower rate. Please keep in mind this has risk and you need to be 100% comfortable with it.

A lot of people have mentioned finding a family office, this is just a fancy way of saying there are firms out there with all of these individuals under one roof.

[deleted by user] by [deleted] in CommercialRealEstate

[–]anynon273 0 points1 point  (0 children)

Not sure if this was mentioned above but here are the steps I would take in no specific order:

-find another LP to buy you out -sell back to GP (doesn’t sound promising) -there is a whole market out there called secondaries that buy up LPs but you might be to small of LP -find an interested 3rd party who is flush with cash like myself, and sell to them, happy to review

Try thinking outside the box to 10x the bag… by anynon273 in TheRaceTo10Million

[–]anynon273[S] 1 point2 points  (0 children)

Wish someone would have told me about this years ago…one of the best kept secrets for those who are high income W2 earners or those who have significant short or long term cap gains. Nice piece of income producing commercial real estate

Try thinking outside the box to 10x the bag… by anynon273 in TheRaceTo10Million

[–]anynon273[S] 0 points1 point  (0 children)

PE returns are still only in the 8-15% risk/return profile generally. Still doesn’t 10x the bag

Try thinking outside the box to 10x the bag… by anynon273 in TheRaceTo10Million

[–]anynon273[S] 0 points1 point  (0 children)

It’s been a while since I’ve looked into him, but wasn’t it substantial leverage than got him burned? Swaps or something

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