Search found 27 matches

by Lucky2Invest
Fri Oct 18, 2019 3:26 pm
Forum: Personal Investments
Topic: Leveraging Investment with Pledged Asset Loan
Replies: 48
Views: 2547

Re: Leveraging Investment with Pledged Asset Loan

You will get eaten alive here for even suggesting this. But given your circumstances (FIRE) why do anything even remotely risky? If you really want to go this route isn’t there a leveraged etf that would give similar results without the 3-4.5% loan?
by Lucky2Invest
Sun Oct 13, 2019 3:41 pm
Forum: Personal Investments
Topic: How to Invest in Friends Private Business
Replies: 19
Views: 1188

Re: How to Invest in Friends Private Business

Not true at all. I said my friend would pay the taxes and then pay himself back before giving me the profits. There was no fraud intended. I was simply asking people’s opinion if it was doable. I can see that this is the wrong place to ask such a question so I will just consult with my lawyer.
by Lucky2Invest
Sun Oct 13, 2019 1:56 pm
Forum: Personal Investments
Topic: How to Invest in Friends Private Business
Replies: 19
Views: 1188

Re: How to Invest in Friends Private Business

Thanks for the comments so far. Again this is a solid investment for me. It meets my risk appetite.

My question has to do with the irs and how the transferring of money would work in their eyes. Any ideas?
by Lucky2Invest
Sun Oct 13, 2019 1:31 pm
Forum: Personal Investments
Topic: How to Invest in Friends Private Business
Replies: 19
Views: 1188

How to Invest in Friends Private Business

Hey All I’m a bit confused on the best way to go about this. My best friends private company offers company stock which has paid a 13-15% dividend every year for the last 19 years. I finally convinced him to buy some for me during the next buying period...December. Now we are wondering how we go abo...
by Lucky2Invest
Wed Oct 09, 2019 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Strategic Way to take Bonus to minimize Taxes?
Replies: 5
Views: 536

Re: Strategic Way to take Bonus to minimize Taxes?

I’m an independent contractor with a solo 401k. They won’t match my contributions. I’m already maxing my Solo401k. I’m a contractor so not offered the companies 401k
by Lucky2Invest
Wed Oct 09, 2019 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Strategic Way to take Bonus to minimize Taxes?
Replies: 5
Views: 536

Strategic Way to take Bonus to minimize Taxes?

Hi everyone. I’m a contractor (single member llc)for a large, not quite Fortune500 company. I have worked there for 10 years and make a salary. 3 years ago they started a bonus program to offer additional incentive. They have deferred the bonus for 3 years until I tell them how I want to receive it....
by Lucky2Invest
Fri Jun 28, 2019 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 311
Views: 37116

Re: Relationship mortgage discounts for moving a million assets

This thread is going to save me hundreds of thousands of dollars. I had never heard or even thought such a thing existed. So thank you. Question: is this a one time thing for transferring money or does it continue as long as you have the money at the institution? If i transferred money could I get a...
by Lucky2Invest
Fri Jun 14, 2019 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3859

Re: Do I need "Professional Trustee?"

If the two of you are the trustees for each other, there could be a risk that the IRS could say that it's reciprocal. Marty Shenkman and I wrote an article on reciprocal trusts in the April 2012 issue of Trusts & Estates that discusses that concept in detail: https://www.kkwc.com/wp-content/uploads...
by Lucky2Invest
Fri Jun 14, 2019 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3859

Do I need "Professional Trustee?"

Hey Everyone My parents have asked me and my twin sister to serve as trustees for their Dynasty trust. In the first meeting with the lawyer, she (lawyer) told us that she would be the 3rd trustee and would take a 1.25% fee of the assets per year. After research this seems pretty standard. The trust ...
by Lucky2Invest
Sat Dec 02, 2017 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Website ISSUES
Replies: 2
Views: 589

Vanguard Website ISSUES

Let me start by saying I love everything Vanguard stands for but I am having a very tough time with their website. I have a solo 401k set up which I access through the Vanguard Small Biz website. That website is very limited, they instruct you to access the personal investor side of the Vanguard web...
by Lucky2Invest
Wed Nov 08, 2017 9:36 pm
Forum: Personal Consumer Issues
Topic: what pickup truck
Replies: 65
Views: 7417

Re: what pickup truck

What pickup truck do you recommend and why? Are the new eco-boost 6 cyl. with twin turbos by Ford reliable? Whymcan't the Tundra 5.7 L get better gas mileage? Has Ford and Ram cured their electronic issues? Are GMC and Chevrolet pickups that bad to be poorly rated by Consumer Reports driver satisfa...
by Lucky2Invest
Thu Sep 21, 2017 12:17 am
Forum: Personal Consumer Issues
Topic: replace freon???
Replies: 17
Views: 1704

Re: replace freon???

You can buy a new, sealed 25lb jug of Freon on Ebay for $132. Then pay the HVAC pro an hour labor to install it. Installation is not a DIY effort. But the OP says his unit is R-410a. I suspect that what you call "Freon" is actually R-22, which is pure CHClF2. R-410A is a blend containing only about...
by Lucky2Invest
Fri Sep 08, 2017 12:09 am
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 4989

Re: Guaranteed 7% Real Estate Deal: Pull from Stock Market?

OP, you use the word "we" a lot in your initial post. If you are a real estate investor doing a deal, negotiating with Fortune 500 companies, you can judge if it makes sense. If you are not, if you are being asked to put some money in someone else's deal, my advice as an internet stranger is "no wa...
by Lucky2Invest
Thu Sep 07, 2017 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 4989

Re: Guaranteed 7% Real Estate Deal: Pull from Stock Market?

Who will do the building? Are you and any other investors taking on the risk that construction might come over budget? The building is being built by some local contractors. We have built in some large cushions in our calculations to take into account construction issues that aren't catastrophic. D...
by Lucky2Invest
Thu Sep 07, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 4989

Guaranteed 7% Real Estate Deal: Pull from Stock Market?

I've come across a large Real Estate Investment that will guarantee me a minimum of 7% for the next 10 years. Long Story Short we have 2, 10 year contracts in hand from Fortune 500 companies to rent a large facility on a large piece of land we have under contract in a major city, the facility is not...
by Lucky2Invest
Mon Jul 10, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping Pre-Marital Property Separate
Replies: 22
Views: 3386

Re: Keeping Pre-Marital Property Separate

Thank you, those links are very helpful. Ok last question. Taxes...do I need to file as "married filing separately" and make sure all that money comes from my separate accounts? Or can I pay all my taxes and my wives from this separate account?
by Lucky2Invest
Sun Jul 09, 2017 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping Pre-Marital Property Separate
Replies: 22
Views: 3386

Keeping Pre-Marital Property Separate

I am married to the love of my life and I can't see ever getting divorced but I think everyone who has been divorced probably felt the same way. I have brought some substantial stock and real estate assets into the marriage, $5M+. I live in an equitable distribution state so I understand as long as ...
by Lucky2Invest
Tue Feb 07, 2017 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 3596

Re: Please help with real estate question

My parents live in a home with a large six figure mortgage left on the home. They want to transfer the home to my name (while still living in it) so that I will be able to benefit from the tax deductions, as I will soon be in the highest tax bracket (39%). After the transfer, I would be making the ...
by Lucky2Invest
Sat Jan 28, 2017 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Commercial Real Estate Venture: What type of Loan?
Replies: 1
Views: 385

Commercial Real Estate Venture: What type of Loan?

I have a $5M commercial real estate venture in front of me. I am wondering what the best course of action is. This venture is very safe, guaranteed 10% rate of return for 10 years, contract with AAA rated tenant. After 10 years there is a risk the tenant could leave but the project would be fully ow...
by Lucky2Invest
Mon Apr 04, 2016 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA issues with S Corp
Replies: 10
Views: 1043

Re: SEP IRA issues with S Corp

Could you or your accountant clarify what it means by "SE Tax"? If you have a W2, it should show how much federal, state, Social Security and medicare tax you have paid as employee. I'm not sure what he means. Yes the W2 shows all those payments. Is the salary portion what I use to figure what I ca...
by Lucky2Invest
Mon Apr 04, 2016 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA issues with S Corp
Replies: 10
Views: 1043

Re: SEP IRA issues with S Corp

OP, Do you have a W2 from your LLC? If so , what does your accountant say this W2 as? Distribution or Salary? He again says W2 income isn't subject to SE tax so can't be used. I take half as a salary and half as a distribution. He seems to be saying I can't apply 25% of either to a SEP. is he wrong?
by Lucky2Invest
Mon Apr 04, 2016 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA issues with S Corp
Replies: 10
Views: 1043

SEP IRA issues with S Corp

I'm having some issues with setting up my SEP. I missed the deadline for a solo 401K, SEP looks only option at this point in addition to Traditional IRA, BUT... My accountant says "I don't have any self-employment income since my distributions are coming from S Corps". I am a single owner LLC taxed ...
by Lucky2Invest
Sat Mar 26, 2016 11:00 am
Forum: Personal Investments
Topic: Missed 401 election date...can anything be done?
Replies: 2
Views: 349

Missed 401 election date...can anything be done?

I would like to open a solo 401k but I see the deadline to elect was Dec 31, for 2015 contributions. I see I can contribute until April 15 but the election date has passed.

Can anything be done about this or should I just elect for 2016 and beyond?

Thanks
by Lucky2Invest
Fri Mar 25, 2016 11:32 am
Forum: Personal Investments
Topic: Large Inheritance...Do I need to worry about retirement?
Replies: 69
Views: 11746

Re: Large Inheritance...Do I need to worry about retirement?

In regards to my allocation. 70% of it is in 3 large bank stocks and 1 railroad. I would love to sell off some of these and buy some bonds and broad index funds. But as you have pointed out, my cost basis is close to 0 on each stock. Is there a way to reallocate parts of my portfolio without trigge...
by Lucky2Invest
Thu Mar 24, 2016 3:12 pm
Forum: Personal Investments
Topic: Large Inheritance...Do I need to worry about retirement?
Replies: 69
Views: 11746

Re: Large Inheritance...Do I need to worry about retirement?

They watched their money double 25 times over the past 40 years .... The math on that is quite interesting, 2 raised to the 25th power: 2**25 or 2^25. That would mean a $1 investment would end up at over $33 million I think. Very nice! Maybe instead of "double" you meant "increase"? :) Ha, yes bad ...
by Lucky2Invest
Thu Mar 24, 2016 1:10 pm
Forum: Personal Investments
Topic: Large Inheritance...Do I need to worry about retirement?
Replies: 69
Views: 11746

Re: Large Inheritance...Do I need to worry about retirement?

Thanks for all the advice...I have asked my parent's and they tell me to "leave it alone and don't even look at it, just like we did". They watched their money double 25 times over the past 40 years so I guess I can see where they are coming from but I don't think anyone on this forum would say that...
by Lucky2Invest
Wed Mar 23, 2016 6:25 pm
Forum: Personal Investments
Topic: Large Inheritance...Do I need to worry about retirement?
Replies: 69
Views: 11746

Large Inheritance...Do I need to worry about retirement?

Two years ago I inherited a large amount of money, approximately $5 Million (All in stocks). My parents have done very well for themselves over the years in the market and wanted to use the $10 Million gift exemption before it runs out [OT comment removed by moderator prudent] . My question is how i...