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Talking stocks, trading, and investing in general

dhoff10

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Does a 500k condo in Chicago really rent for 3500 a month?

Seems high to me, but I guess it isn't something I have looked at too closely. Maybe these are high amenity high-rise buildings...but that adds sizable HOA fees (easily 700-800 a month)
Maybe a little high but Chicago does have higher rental ROIs than say, the bay area. Speculatively, I would attribute this to good incomes but not as much accumulated wealth. And much much more space preventing home prices from going too crazy.
 

jbarwick

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I think his earlier investments from 2012-2014 were probably good but current prices seem high across the board for every city.

Another guy is stuck in Amazon Golden Handcuffs and another is in a stressful career. They could not put a price on the health toll it is causing them but they sort of shrugged and said most of the men in their families die before 70...
 

otc

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Maybe a little high but Chicago does have higher rental ROIs than say, the bay area. Speculatively, I would attribute this to good incomes but not as much accumulated wealth. And much much more space preventing home prices from going too crazy.
I'm local, so it just feels high to me. A quick browse of zillow estimates suggests 2500 is more normal, maybe up to 3k. But that's for things like walkups or mid-rise buildings where HOA dues are only like $200 a month.

The exception would be newish full-amenity high rise buildings with stuff like gym, doorman, pool, etc. But then you're easily talking 7-800 in monthly dues which is really going to cut into the guy's profitability. Over 1k is easy with older buildings but I generally assume most absentee investors aren't buying more than 15-20 years old. Gotta be able to float a lot of negative cash flow for that to pay off.

Although full amenity buildings do tend to be easier to manage remotely. They usually have maintenance staff who can fix minor things for your tenants--simple stuff like clogs are free. Hell, I live in a ~50 year old building and I've never met my landlord. I'm coming up on 6 years and only twice has she had to arrange for 3rd party work in my unit (and one of those was to repair water damage from the unit above, so their insurance took care of the bill).
 

Texasmade

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Just a mishmash of wrong headed stuff.
Sort of reminds me of my friend's gf now fiance who's a pharmacist. I told her she needs to put money away into her 401k to at least get her company match. At the time she wasn't putting anything into her 401k. She was saving it all as cash in the bank.

Her response was what funds should I invest? Fair question, so I told her look for items with low fees/expense ratios.

Her next question is what if the market goes down? Won't I lose my money? I just had a damn wtf look on my face. I then had to go and explain the company match she had, tax deferrals, the fact that she's not retiring for another 35 years, bank interest on savings, etc.
 

RedLantern

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My wife (who is a pharmacist) has a friend (who is also a pharmacist) that wasn't contributing to her 401k, but was buying whole life insurance. She has no kids and a spouse with a high paying job . . .
 

jcman311

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Sort of reminds me of my friend's gf now fiance who's a pharmacist. I told her she needs to put money away into her 401k to at least get her company match. At the time she wasn't putting anything into her 401k. She was saving it all as cash in the bank.

Her response was what funds should I invest? Fair question, so I told her look for items with low fees/expense ratios.

Her next question is what if the market goes down? Won't I lose my money? I just had a damn wtf look on my face. I then had to go and explain the company match she had, tax deferrals, the fact that she's not retiring for another 35 years, bank interest on savings, etc.
1582073984983.png
 

Piobaire

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Whole life and any annuity I’ve ever examined should be illegal as usury.
 

Piobaire

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Like parting stupid people from their money? There is no use for whole life that a cheaper product could not do.
 

patrickBOOTH

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Sort of reminds me of my friend's gf now fiance who's a pharmacist. I told her she needs to put money away into her 401k to at least get her company match. At the time she wasn't putting anything into her 401k. She was saving it all as cash in the bank.

Her response was what funds should I invest? Fair question, so I told her look for items with low fees/expense ratios.

Her next question is what if the market goes down? Won't I lose my money? I just had a damn wtf look on my face. I then had to go and explain the company match she had, tax deferrals, the fact that she's not retiring for another 35 years, bank interest on savings, etc.
My wife (who is a pharmacist) has a friend (who is also a pharmacist) that wasn't contributing to her 401k, but was buying whole life insurance. She has no kids and a spouse with a high paying job . . .
Yeah I have a friend who is 30 who has been saving her whole career thus far in her 401k, but has only been putting the money in the money market fund. She missed out on "all of this" :spreads arms:

Like parting stupid people from their money? There is no use for whole life that a cheaper product could not do.
Yeah, I have heard people say in the past, to get life insurance right away and you can have a big benefit when you're old, but most of the time if you just invested the premium your whole life you can make out better. It has been a while since looking at it, but that's more or less what I came up with.
 

Piobaire

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Just buy term to 100 with riders to allow for more based on foreseen life events, i.e. having kids.
 

gettoasty

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But whole life your money can be:

Invested tax deferred (not deductible)
Out of the estate
May help with education financial aid (“hide assets”)
LTC rider
Cash value can be withdrawn/borrowed
 

Piobaire

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The cost of those benefits are more than their worth. Don’t drink the kool aid.
 

gettoasty

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I see advisors inform clients after exhausting all their tax deferred vehicles that whole life should be something to consider next. Granted, maybe for a different group of individuals, HNW and the ultra affluent?

the approach is parallel to setting yourself up with “various buckets” for retirement. Diversifying asset placement in addition to asset class?
 

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