Author Topic: Race from $2M to $4M...and Beyond!  (Read 571330 times)

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #3500 on: July 18, 2020, 04:51:52 PM »
And I do include projected SS in my household CF analysis, but at my own peril. Small risk of going away I think.
I agree, very small chance of SS going away. I personally think it is close to zero chance. Now, SS being means tested, however, that is already happening in multiple countries.
I guess as long as I get it when my AGI gown because my assets run out. Then itís really spend your own assets first...


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pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3501 on: July 18, 2020, 05:23:38 PM »
Think about Social Security from a little different viewpoint.  The naysayers are always talking from their fact and figure sheets that it cannot be afforded by the country.  I nod my head and just say," Uh huh."  While we are talking industry is installing machines to make production cheaper and easier.  Farmers are increasing the yields from the same plots of land.  Other nations are happy to sell us clothing and other necessary products at bargain basement prices.  Basic survival is certainly easier than when Social Security was implemented on August 14, 1935.

Large demonstrations have been taking place all Summer for Black Lives Matter.  It just kind of shows people still care about each other.  This shows a willingness to help others.

Back to Social Security - There is the will and there are the means to provide a decent living for folks when they exceed their working years.  Unless people develop a callous indifference in the next few years, I don't think Social Security will suffer much.  The COVID-19 has fostered some realization that we all live on this blue green rock together.

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3502 on: July 18, 2020, 06:10:06 PM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

honeyfill

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Re: Race from $2M to $4M...and Beyond!
« Reply #3503 on: July 18, 2020, 07:22:39 PM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS. 

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3504 on: July 18, 2020, 07:30:31 PM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS.
Weíll see. Part of the genius of SS was making essentially everyone both a contributor and beneficiary; it helped secure the systems future. I think a more likely scenario is that SS contributions wonít have a ceiling.

alienbogey

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Re: Race from $2M to $4M...and Beyond!
« Reply #3505 on: July 18, 2020, 11:26:11 PM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS.
Weíll see. Part of the genius of SS was making essentially everyone both a contributor and beneficiary; it helped secure the systems future. I think a more likely scenario is that SS taxes wonít have a ceiling.

Fixed that for you.

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #3506 on: July 19, 2020, 07:01:12 AM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS.
Weíll see. Part of the genius of SS was making essentially everyone both a contributor and beneficiary; it helped secure the systems future. I think a more likely scenario is that SS taxes wonít have a ceiling.

Fixed that for you.

I think we can pretty easily see what's naturally next with SS from the progression we've already seen in the past (slowly moving up the employee and employer rates a couple tenths a percent at a time) and in funding Medicare (moving up contributions one-tenth of a percent at a time, lifting earnings cap, then a new additional rate on higher earnings.  And the NIIT to capture revenue from unearned income sources, which was really made easier to stomach by the cap gains rate holding firm and not reverting back to the earned income brackets, so in the end just redirected the revenue, etc, etc).  SS is already means tested (in an admittedly different way than a real means testing) practically speaking with the bend points, and with the taxation structure of social securtiy benefits themselves.  Of course the big practical move on that will be the lifting of the cap but bending the return to zero at that point (I'm sure no one is gonna suggest expanding SS at this point to bring 'security' to a higher income level), etc.  There are so many levers to push I think the parties will stay away from anything that looks like a real black and white change and just keep moving these levers.

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3507 on: July 19, 2020, 08:28:32 AM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS.
Weíll see. Part of the genius of SS was making essentially everyone both a contributor and beneficiary; it helped secure the systems future. I think a more likely scenario is that SS taxes wonít have a ceiling.

Fixed that for you.

I don't think we can realistically ever get rid of SS or should we.  There are too many people who have saved too little for retirement.  We cannot as a prosperous nation let millions of people die in poverty in old age.  That would be unconscionable. 

I expect the SS tax ceiling will need to rise to keep the program solvent.  Since one of our big issues in this country is inequality, I would have no problem with that.  I view taxes as a necessary evil but it's better than the alternative of having the system go insolvent or letting people die in poverty.

If the whole program were to become means tested and I wasn't given a single penny after paying in over a lifetime, though, I'd probably be pretty frustrated.  The whole point is that it's a benefit that everyone pays into (some more than others) and everyone receives (some more than others).  I've got no problem with it being "progressive" (speaking tax speak not culture), since the primary purpose is to provide a base income.  To flatly deny benefits to people because they did a job saving over the course of their life?  That sucks and sends a bad message to boot. 


BeanCounter

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Re: Race from $2M to $4M...and Beyond!
« Reply #3508 on: July 19, 2020, 10:32:57 AM »
$15k of $200k is 7.5%.
My investment portfolio has returned an average of 7.9% over the last ten years and it requires zero work. I could pull out 7.5% each year and still leave the principal alone to appreciate further.
I think rental property is overrated because the checks coming in the door each month give you a false sense of profitability. Iím not saying it doesnít work out, my great grandfather made his fortune on apartment buildings years ago, but it isnít as easy as folks make it sound.

I put a 7.5% withdrawal rate strategy into www.cfiresim.com and it had a 30.43% success rate over 30 years.   

THAT is the difference.

For a 30 year retirement, you need to use a 4% withdrawal rate to have a 95% success rate.   

Functionally, that rental property investment is producing the income that a stock/bond portfolio of $375,000 can sustain over 30 years, but it only required a $200k investment to do it.

But youíre assuming that a rental property returns 7.5% every year. Which would ignore maintenance expenses and any rental income that might be lost if a property sits empty or you have to evict someone etc.
I think when rental property is good, itís really good. But when itís bad it can be really bad and a huge drain on your assets.
Weíve kicked around the rental property idea for many years, as well as vacation properties and ultimately decided it seemed to be a bigger risk to us than itís worth when we can live on 3% of our portfolio.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3509 on: July 19, 2020, 12:03:11 PM »
$15k of $200k is 7.5%.
My investment portfolio has returned an average of 7.9% over the last ten years and it requires zero work. I could pull out 7.5% each year and still leave the principal alone to appreciate further.
I think rental property is overrated because the checks coming in the door each month give you a false sense of profitability. Iím not saying it doesnít work out, my great grandfather made his fortune on apartment buildings years ago, but it isnít as easy as folks make it sound.

I put a 7.5% withdrawal rate strategy into www.cfiresim.com and it had a 30.43% success rate over 30 years.   

THAT is the difference.

For a 30 year retirement, you need to use a 4% withdrawal rate to have a 95% success rate.   

Functionally, that rental property investment is producing the income that a stock/bond portfolio of $375,000 can sustain over 30 years, but it only required a $200k investment to do it.

But youíre assuming that a rental property returns 7.5% every year. Which would ignore maintenance expenses and any rental income that might be lost if a property sits empty or you have to evict someone etc.
I think when rental property is good, itís really good. But when itís bad it can be really bad and a huge drain on your assets.
Weíve kicked around the rental property idea for many years, as well as vacation properties and ultimately decided it seemed to be a bigger risk to us than itís worth when we can live on 3% of our portfolio.

No, I'm not assuming that at all.  I'm assuming the OP knows how to properly calculate profit on a rental property.   You have to subtract out vacancies and future repair costs before you calculate profit.

Some years the expenses will be higher and some they will be lower, but over time they average out -- just like the stock market has ups and downs that average out.

JoJoP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3510 on: July 21, 2020, 09:06:29 PM »
$15k of $200k is 7.5%.
My investment portfolio has returned an average of 7.9% over the last ten years and it requires zero work. I could pull out 7.5% each year and still leave the principal alone to appreciate further.
I think rental property is overrated because the checks coming in the door each month give you a false sense of profitability. I’m not saying it doesn’t work out, my great grandfather made his fortune on apartment buildings years ago, but it isn’t as easy as folks make it sound.

I put a 7.5% withdrawal rate strategy into www.cfiresim.com and it had a 30.43% success rate over 30 years.   

THAT is the difference.

For a 30 year retirement, you need to use a 4% withdrawal rate to have a 95% success rate.   

Functionally, that rental property investment is producing the income that a stock/bond portfolio of $375,000 can sustain over 30 years, but it only required a $200k investment to do it.

But you’re assuming that a rental property returns 7.5% every year. Which would ignore maintenance expenses and any rental income that might be lost if a property sits empty or you have to evict someone etc.
I think when rental property is good, it’s really good. But when it’s bad it can be really bad and a huge drain on your assets.
We’ve kicked around the rental property idea for many years, as well as vacation properties and ultimately decided it seemed to be a bigger risk to us than it’s worth when we can live on 3% of our portfolio.

No, I'm not assuming that at all.  I'm assuming the OP knows how to properly calculate profit on a rental property.   You have to subtract out vacancies and future repair costs before you calculate profit.

Some years the expenses will be higher and some they will be lower, but over time they average out -- just like the stock market has ups and downs that average out.

Yes, @SwordGuy  is correct.  It's 15K on a 200K investment, after factoring in expenses including vacancies, taxes, insurance and property manager for that particular unit.  There's no mortgage.  This investment is stable, the sturdy, well maintained house will most likely still be standing when I'm dead and buried, and the rent checks should be coming in like clockwork for as long as I own it.   I know many of my beloved friends in this cohort are skeptical, but hear me out.   It's always good to hear how someone made it to this thread, yes?

 We do most of our own work in true MMM style, and yes, there's the occasional need for a roof (about 7500 for a small 3/2 footprint w/garage), or a backed up pipe.  Or we buy a fixer upper and the work is substantial.  It may take weeks or even months to get a fixer to the caliber that we want them to be.  We'll know that going in.   But let's set fixer uppers aside, because our core rentals have been fixed up and cash flowing for years, most more than a decade. 

 Overall, our tenants are very happy and long term (we keep them happy, our beautiful houses are below market and in good repair,  and they stay).  Most of my houses are only vacant for for a few days at a time.  Most of the occupied houses need less than an hour of our time a month, some less than a minute.   In July, so far, one tenant called to ask where the water shut off valve is.  One asked if they could remove some bushes.   I didn't hear from anybody else.    Then I check the financials for the first few days of the month to make sure the autodeposits are deposited.   That's about 10 minutes so far this month and we're 3 weeks in.    Last year we had several vacancies, but that is very unusual.  We raise the low rents when they move out, so it's a cash positive move.  Generally we have about 1 vacancy a year that takes 1-4 weeks to get rented. 

 RE is so good to us that I can't bring myself to do it any other way.   There is no doubt that investment portfolios are easier and has worked brilliantly for most of you, but RE has made us very wealthy.  When I do the math, I can't imagine sinking 200K into the market and hoping it all works out.  In theory, I've heard again and again how it works, but in practice, I'm way better at real estate and more comfortable having my eyeballs on my own investment.  No judgement or debate, because we all choose a path that is comfortable for us.    I'm glad it's worked for most of you, but it hasn't for us.   Instead, I make an investment that starts to give me a return immediately.   I don't see monthly rent checks as a false sense of profitability.  I see them as a bird in the hand.   I know that rent income came in last month and safely landed in my bank account.   It will happen again next week.   I didn't wait for the dividends to post.     We're not hand to mouth here waiting on rent checks to pay the bills.   We an ever increasing NW and cash in a growing bank account.  Freedom and wealth. 
« Last Edit: July 22, 2020, 12:12:09 PM by JoJoP »

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3511 on: July 22, 2020, 07:24:19 AM »

- SNIP -

.   We an ever increasing NW and cash in a growing bank account.  Freedom and wealth.

Wow!  Sounds like one of those TV ads I used to see when my insomnia forced me to watch old Black and White movies late at night.  These ads for flipping houses and renting houses always sounded too good to be true, but they must have some basis in fact.

Maybe - it's a part of the American dream that they haven't taken away yet.

I like the sound of it.  It seems far more stable and controllable than the mysterious stock market where your fingers need to be crossed.

JoJoP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3512 on: July 22, 2020, 08:01:30 AM »

- SNIP -

.   We an ever increasing NW and cash in a growing bank account.  Freedom and wealth.

Wow!  Sounds like one of those TV ads I used to see when my insomnia forced me to watch old Black and White movies late at night.  These ads for flipping houses and renting houses always sounded too good to be true, but they must have some basis in fact.

Maybe - it's a part of the American dream that they haven't taken away yet.

I like the sound of it.  It seems far more stable and controllable than the mysterious stock market where your fingers need to be crossed.

That's right, baby,  step on in!

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3513 on: July 22, 2020, 02:21:24 PM »

- SNIP -

.   We an ever increasing NW and cash in a growing bank account.  Freedom and wealth.

Wow!  Sounds like one of those TV ads I used to see when my insomnia forced me to watch old Black and White movies late at night.  These ads for flipping houses and renting houses always sounded too good to be true, but they must have some basis in fact.

Maybe - it's a part of the American dream that they haven't taken away yet.

I like the sound of it.  It seems far more stable and controllable than the mysterious stock market where your fingers need to be crossed.

It's definitely possible for regular people to make money in rental properties.   Not in every market, but certainly in plenty of them.
You can get a higher dollar return on investment if you're willing to do a lot of the work yourself but that's not an essential requirement.

We have 4 rental properties and have been really pleased with the results we've gotten with them.   FIRE is all about a reasonably reliable cash flow that covers expenses, plus reserves to handle life's dammits as they come your way.   

Compared to the 4% rule for stock/bond portfolio, we were able to get the same cash flow from rental profits for half the dollar investment -- plus a lot of sweat equity to get the properties ready for sale.   Once they hit the market we spend very little time on them because we hire out the running of them to a property management company.


Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3514 on: July 22, 2020, 02:38:51 PM »
I keep on kicking around the Real Estate angle, but still have a hard time shaking the memories of my parents forays into it. Tenants that donít pay the rent. Holes kicked into walls. Trapping 30 feral cats.

Landlords earn every dime. Not so sure I want that sort of drama in my life.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3515 on: July 22, 2020, 03:18:21 PM »
I keep on kicking around the Real Estate angle, but still have a hard time shaking the memories of my parents forays into it. Tenants that donít pay the rent. Holes kicked into walls. Trapping 30 feral cats.

Landlords earn every dime. Not so sure I want that sort of drama in my life.

yeah my two small rentals make roughly 21k/yr in profit and I've had them for 23 years. The money has been great, heck thats how I paid off the house and they provide about 40% of our FIRE income.

That said.. I've had floods, renters not pay (they did eventually after some hair pulling), renters threatening to sue me, damage etc.

Its now got to the point where they are a PITA that honestly I don't need.. and I certainly don't need the money.

If the trailer rental suddenly burst into flames (its insured for $12k) I wouldn't exactly be heartbroken..:)

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3516 on: July 22, 2020, 04:48:54 PM »
I've got three houses.  I've rented one of them.   Last renter left me with unpaid rent and utilities.   I pulled the electrical service with the renter inside.  He came out to threaten me immediately after the power was cut.  He'd been beating his girlfriend onsite.  She'd left by then.  He said he'd be calling his lawyer on me.  I told him he'd be adding assault to my charges if he didn't get the fuck out immediately.  That was my last and final renter.

flyingaway

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Re: Race from $2M to $4M...and Beyond!
« Reply #3517 on: July 22, 2020, 10:55:14 PM »
I keep on kicking around the Real Estate angle, but still have a hard time shaking the memories of my parents forays into it. Tenants that donít pay the rent. Holes kicked into walls. Trapping 30 feral cats.

Landlords earn every dime. Not so sure I want that sort of drama in my life.

yeah my two small rentals make roughly 21k/yr in profit and I've had them for 23 years. The money has been great, heck thats how I paid off the house and they provide about 40% of our FIRE income.

That said.. I've had floods, renters not pay (they did eventually after some hair pulling), renters threatening to sue me, damage etc.

Its now got to the point where they are a PITA that honestly I don't need.. and I certainly don't need the money.

If the trailer rental suddenly burst into flames (its insured for $12k) I wouldn't exactly be heartbroken..:)

Claim insurance on your fire damaged trailer rental.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3518 on: July 23, 2020, 07:46:32 AM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3519 on: July 23, 2020, 12:39:22 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

One can make a lot of money in trailer parks by being evil.  It is simple.  Find a park where the tenants own the trailers and someone is selling you the land.  The trailers are actually very hard to move.  So you jack up the rent a lot, enough that trailers are worthless vis-a-vis renting an apartment (or maybe even worse) and the tenants need to choose between paying your extortionate rent or leaving the home they thought they owned.  Again, this is in my view basically evil.  Private equity funds do this.

Thankfully, I have never worked on this type of deal and won't ever be in a position where I'll need to.  But it is a thing that people do, and some very rich people make some very nice returns by investing in generic real estate funds that they may not even realize do this. 

(I think it's easier to justify evil when there are middlemen.  So like the king doesn't torture the prisoners, the king just tells the sergeant at arms that he needs information about the upcoming battle, and then the sergeant at arms tells a poor new recruit he needs to make the prisoner talk and then the king gets his information without having to come fully to grips with what he's responsible for.  There are various modern examples of this phenomenon as well.) 

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3520 on: July 23, 2020, 12:43:04 PM »

Evil tactic #2.  Buy a run down building in a gentrifying area.  Treat it like garbage and never fix it.  Make the tenants live in terrible conditions, so bad they all want to just move out on their own.  Then the building is mostly empty and run down.  OOOPS, I guess it needs to be rebuilt with fancy condos now.  Zoning board would never approve this if it required mass evictions.

I did work on a deal where the city cracked down on some jerk who did this (he lives in a huge house in a rich area of course) and he had to sell all his properties to responsible owners and get out.  I represented the nonprofit purchaser trying to fix his bad behavior.  That made me feel good. 

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3521 on: July 23, 2020, 12:43:33 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

yes in fact one of the most lucrative types of trailer parks are the one catering to sex offenders. Its great.. no kids obviously and the renters are pretty much not allowed to live anywhere except your trailer park.. You can then raise the rent to have the renters virtually starving then they have no money to leave.

If they default you simply kick them out and of course they can't afford a lawyer and you don't have to accept any of their potential buyers so you (do them a favour) and buy their trailer for pennies on the dollar then rent it out again or sell it to a new "owner" who is in the same situation as the last person only now you've made a ton of money on the deal.

There are always sex offenders that need somewhere to live.. You'd be doing them a great service!

This might sound slightly sarcastic but apparently this is exactly what happens.

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Re: Race from $2M to $4M...and Beyond!
« Reply #3522 on: July 23, 2020, 01:43:13 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

yes in fact one of the most lucrative types of trailer parks are the one catering to sex offenders. Its great.. no kids obviously and the renters are pretty much not allowed to live anywhere except your trailer park.. You can then raise the rent to have the renters virtually starving then they have no money to leave.

If they default you simply kick them out and of course they can't afford a lawyer and you don't have to accept any of their potential buyers so you (do them a favour) and buy their trailer for pennies on the dollar then rent it out again or sell it to a new "owner" who is in the same situation as the last person only now you've made a ton of money on the deal.

There are always sex offenders that need somewhere to live.. You'd be doing them a great service!

This might sound slightly sarcastic but apparently this is exactly what happens.

We do our best to be good and responsible landlords.    We fix what needs fixing and we get it fixed as promptly as we can.   We expect things to be fixed properly.

I despise landlords who abuse their tenants by not properly maintaining the rentals.

But, damn, I'm having a tough time feeling sorry for this particular subset of clientele.   Perhaps that's because I think that most of them should have just been executed in the first place.   

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3523 on: July 23, 2020, 02:02:45 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

yes in fact one of the most lucrative types of trailer parks are the one catering to sex offenders. Its great.. no kids obviously and the renters are pretty much not allowed to live anywhere except your trailer park.. You can then raise the rent to have the renters virtually starving then they have no money to leave.

If they default you simply kick them out and of course they can't afford a lawyer and you don't have to accept any of their potential buyers so you (do them a favour) and buy their trailer for pennies on the dollar then rent it out again or sell it to a new "owner" who is in the same situation as the last person only now you've made a ton of money on the deal.

There are always sex offenders that need somewhere to live.. You'd be doing them a great service!

This might sound slightly sarcastic but apparently this is exactly what happens.

We do our best to be good and responsible landlords.    We fix what needs fixing and we get it fixed as promptly as we can.   We expect things to be fixed properly.

I despise landlords who abuse their tenants by not properly maintaining the rentals.

But, damn, I'm having a tough time feeling sorry for this particular subset of clientele.   Perhaps that's because I think that most of them should have just been executed in the first place.

Gotta love the logic there.  This person is so dangerous that we're going to force them to register in perpetuity as a sex offender so they can live in working classs and lower class neighborhoods. But they're not so dangerous that we'll actually spend the money incarcerate them.

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Re: Race from $2M to $4M...and Beyond!
« Reply #3524 on: July 23, 2020, 02:19:08 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

yes in fact one of the most lucrative types of trailer parks are the one catering to sex offenders. Its great.. no kids obviously and the renters are pretty much not allowed to live anywhere except your trailer park.. You can then raise the rent to have the renters virtually starving then they have no money to leave.

If they default you simply kick them out and of course they can't afford a lawyer and you don't have to accept any of their potential buyers so you (do them a favour) and buy their trailer for pennies on the dollar then rent it out again or sell it to a new "owner" who is in the same situation as the last person only now you've made a ton of money on the deal.

There are always sex offenders that need somewhere to live.. You'd be doing them a great service!

This might sound slightly sarcastic but apparently this is exactly what happens.

We do our best to be good and responsible landlords.    We fix what needs fixing and we get it fixed as promptly as we can.   We expect things to be fixed properly.

I despise landlords who abuse their tenants by not properly maintaining the rentals.

But, damn, I'm having a tough time feeling sorry for this particular subset of clientele.   Perhaps that's because I think that most of them should have just been executed in the first place.
When this topic came up in a branch of our family tree, we were told the majority of offenders were themselves victimized as children. That "execution" solution is a lot more complicated in light of this knowledge. In the case I'm referring to, the perpetrator eventually died of other causes. How it has continued to impact his victim's life is hard to say, because the relative(s) are distant enough that we just don't know. And it's not like it's something you bring up in casual communication. It's a tragedy in every direction.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3525 on: July 23, 2020, 02:51:21 PM »
But, damn, I'm having a tough time feeling sorry for this particular subset of clientele.   Perhaps that's because I think that most of them should have just been executed in the first place.
When this topic came up in a branch of our family tree, we were told the majority of offenders were themselves victimized as children. That "execution" solution is a lot more complicated in light of this knowledge. In the case I'm referring to, the perpetrator eventually died of other causes. How it has continued to impact his victim's life is hard to say, because the relative(s) are distant enough that we just don't know. And it's not like it's something you bring up in casual communication. It's a tragedy in every direction.

I signed up for our state's sex offender registry notification system after someone opened up a halfway house for rapists and pedophiles in our neighborhood (two homes ago).   That way, when a new person moved in we would know who to watch out for.   (That's not being paranoid or overreacting, we didn't do that until we discovered that multiple pets had been poisoned, one had had it' back broken, another was burned, all starting right after the place opened up.   That's when we also better secured the doors, bought a shotgun and I made sure we both knew how to use it.)

We're discussing people who raped 2 year olds when they were in their 30s thru 50s.   Never saw anyone who had just turned 18 and got in trouble for fooling around with their still 17 year old girlfriend...   

Sometimes I simply do not care WHY someone does something so awful.   I simply don't.    They just need to be dead.    Many of these offenders fit into that category.

PS -- when Animal Control put enough pressure on the original 5 occupants of said half-way house -- the only government agency who would do a damn thing to help us -- they moved out one by one.  (And were replaced by new tenants.)   After the last one was gone the brutal mistreatment of animals stopped -- in our neighborhood.   Some other neighborhood, probably poorer, got to live with someone going thru their serial killer self-training program.

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3526 on: July 23, 2020, 07:34:02 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

Trailer park? Now thereís an interesting investment idea. Kinda hard for tenants to damage a piece of dirt. Not impossible, but theyíd have to work at it.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3527 on: July 23, 2020, 08:50:39 PM »
Seen a few stories on investing in trailer parks in the past year or so.  I'm not like you guys into savvy investing.  I just happened across them.

[url=https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92][url]https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#4c23ef6c6e92[/url]

Seems like a good deal.  If you lose a renter or two you've still got the other tenants in the lot.  It's the tenants problem to take care of their trailers.  These things are kind of captive so you can bump up the rent once the trailer park is full.  It's hard to move them and they can be hard to sell.

Personal Experience - I lived in a trailer many years ago.  It was in a park that the farmer owner had converted from a cornfield.  It was full.  Bad year for corn was still a good year for the trailer park.

Is this a good niche real estate market?  (I still don't want to do it.)

If I did it maybe I could get a book deal, "I was a Redneck Slumlord."

Trailer park? Now thereís an interesting investment idea. Kinda hard for tenants to damage a piece of dirt. Not impossible, but theyíd have to work at it.

There are utility lines and attachment points, lawns, mailboxes, possibly a laundromat, roads, signs, etc.   Never underestimate the ability of people to vandalize something.   Plus they could drive out good tenants.

soccerluvof4

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Re: Race from $2M to $4M...and Beyond!
« Reply #3528 on: July 24, 2020, 04:21:37 AM »
But, damn, I'm having a tough time feeling sorry for this particular subset of clientele.   Perhaps that's because I think that most of them should have just been executed in the first place.
When this topic came up in a branch of our family tree, we were told the majority of offenders were themselves victimized as children. That "execution" solution is a lot more complicated in light of this knowledge. In the case I'm referring to, the perpetrator eventually died of other causes. How it has continued to impact his victim's life is hard to say, because the relative(s) are distant enough that we just don't know. And it's not like it's something you bring up in casual communication. It's a tragedy in every direction.

I signed up for our state's sex offender registry notification system after someone opened up a halfway house for rapists and pedophiles in our neighborhood (two homes ago).   That way, when a new person moved in we would know who to watch out for.   (That's not being paranoid or overreacting, we didn't do that until we discovered that multiple pets had been poisoned, one had had it' back broken, another was burned, all starting right after the place opened up.   That's when we also better secured the doors, bought a shotgun and I made sure we both knew how to use it.)

We're discussing people who raped 2 year olds when they were in their 30s thru 50s.   Never saw anyone who had just turned 18 and got in trouble for fooling around with their still 17 year old girlfriend...   

Sometimes I simply do not care WHY someone does something so awful.   I simply don't.    They just need to be dead.    Many of these offenders fit into that category.

PS -- when Animal Control put enough pressure on the original 5 occupants of said half-way house -- the only government agency who would do a damn thing to help us -- they moved out one by one.  (And were replaced by new tenants.)   After the last one was gone the brutal mistreatment of animals stopped -- in our neighborhood.   Some other neighborhood, probably poorer, got to live with someone going thru their serial killer self-training program.




Those people should NEVER be let out imo! But I would want to know that info as well. Some sick people.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3529 on: July 24, 2020, 06:40:33 AM »
Reminds me of the lyrics to an old Doors song.

There's a killer on the road
His brain is squirmin' like a toad
Take a long holiday
Let your children play
If you give this man a ride, sweet family will die
Killer on the road.

I used to hitch hike years ago.  I think it helped give hitch hikers a bad name. 

LetItGrow

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Re: Race from $2M to $4M...and Beyond!
« Reply #3530 on: July 25, 2020, 05:02:56 PM »
Social security isnít going anywhere. If the Fed can toss a cool couple trillion at businesses and the financial sector at the drop of a hat, then we can fund Social security. The politicians will exert the proper amount of angst and drama as we would expect, but in the end it gets funded.

Remember, the cohort in this topic will be considered too rich for SS.  Part of the solution to the shortfall will be 'means testing'.  I'm not saying if that will be fair or not. What I am saying is that if you are in the 2-4 and beyond club in 2034, do not count on getting much SS.
Weíll see. Part of the genius of SS was making essentially everyone both a contributor and beneficiary; it helped secure the systems future. I think a more likely scenario is that SS taxes wonít have a ceiling.

Fixed that for you.

I don't think we can realistically ever get rid of SS or should we.  There are too many people who have saved too little for retirement.  We cannot as a prosperous nation let millions of people die in poverty in old age.  That would be unconscionable. 

I expect the SS tax ceiling will need to rise to keep the program solvent.  Since one of our big issues in this country is inequality, I would have no problem with that.  I view taxes as a necessary evil but it's better than the alternative of having the system go insolvent or letting people die in poverty.

If the whole program were to become means tested and I wasn't given a single penny after paying in over a lifetime, though, I'd probably be pretty frustrated.  The whole point is that it's a benefit that everyone pays into (some more than others) and everyone receives (some more than others).  I've got no problem with it being "progressive" (speaking tax speak not culture), since the primary purpose is to provide a base income.  To flatly deny benefits to people because they did a job saving over the course of their life?  That sucks and sends a bad message to boot.

Good post. I expect to have our benefits clipped a bit in 20 years when we start drawing, but yeah a major haircut on it would be pretty disappointing. Doesnít seem likely, but all sorts of weird shit has happened in this country.

secondcor521

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Re: Race from $2M to $4M...and Beyond!
« Reply #3531 on: July 25, 2020, 05:29:09 PM »
If you look at the history of Social Security, it follows a very consistent pattern.

When the program gets in trouble, two things happen:  taxes are raised and benefits get expanded.  The first part makes sense financially, the second part probably makes sense politically.

Like most, I account for a haircut to be conservative (fiscally, not politically ;-) ), but if pressed I would actually predict, based on history, that I will get my full benefit if not more.

flyingaway

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Re: Race from $2M to $4M...and Beyond!
« Reply #3532 on: July 26, 2020, 12:31:32 PM »
I cannot think of social security going away without something like universal income to replace it. Someone in previous posts said that there are too many people in this country who have saved close to nothing for their retirement.

What I heard is that the democrats are calling for more in social security payments, which would mean higher taxes in one way or another. There may be means tests for the social security. Does that means it looks like being eliminated for the "rich" folks in this tread?

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3533 on: July 26, 2020, 01:00:09 PM »
I cannot think of social security going away without something like universal income to replace it. Someone in previous posts said that there are too many people in this country who have saved close to nothing for their retirement.

What I heard is that the democrats are calling for more in social security payments, which would mean higher taxes in one way or another. There may be means tests for the social security. Does that means it looks like being eliminated for the "rich" folks in this tread?

Stop the corporate welfare, bloated defense spending, and make the ultra-rich and mega-corporations pay more taxes, and it will all work out just fine.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3534 on: July 26, 2020, 01:08:26 PM »
The problem with means testing SS payments of course is that everybody pays into it so in theory everybody should get a payout to some degree. Right now we have both an uplift (i.e the very poor get a bigger percentage of their contribution)

From what I can see they take the total earnings for the highest earning 35 years then divide that by 420 to get an average monthly earning.

If that monthly average is $926 or below, then you get 90% of that earning, i.e up to $833/month. Above $926, you only get 32% of those extra earnings up to $5583/month, then it drops to 19% I believe.

So you can see the lower income folks get a proportionally far bigger payout.

There are some strange tax things too.. like the more you earn the bigger proportion of your payout gets taxed.

Don't even mention the "Windfall Elimination Program" where up to $463/month of your payout gets stolen like it it does in my case.

So as you can see there is quite a bit of means testing going on already.

Incidently, I read an article from last year that says on average, individuals spend 43% of their SS payments on healthcare.. I.e Medicare.

This jives with some of the cost projections I came up with that suggests my total SS check will go to funding Medicare for DW and I.
« Last Edit: July 26, 2020, 01:12:51 PM by Exflyboy »

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3535 on: July 26, 2020, 07:59:41 PM »
@Exflyboy, I'm not sure that's a fair characterization of the WEP rule.  If you spent many years working for a job that didn't pay into social security and you got a pension from that job, then you already got your reward and your social security is being adjusted for the fact that you didn't really pay in.

At least that is what Google tells me.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3536 on: July 26, 2020, 08:22:56 PM »
@Exflyboy, I'm not sure that's a fair characterization of the WEP rule.  If you spent many years working for a job that didn't pay into social security and you got a pension from that job, then you already got your reward and your social security is being adjusted for the fact that you didn't really pay in.

At least that is what Google tells me.

So you work some number of years (presumably less than 35) and that buys you a reduced benefit. But you don't get that benefit you paid for.. it gets cut because you paid into (or not) some other scheme.

Sure sounds like theft to me..

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3537 on: July 26, 2020, 09:13:20 PM »
@Exflyboy, I'm not sure that's a fair characterization of the WEP rule.  If you spent many years working for a job that didn't pay into social security and you got a pension from that job, then you already got your reward and your social security is being adjusted for the fact that you didn't really pay in.

At least that is what Google tells me.

So you work some number of years (presumably less than 35) and that buys you a reduced benefit. But you don't get that benefit you paid for.. it gets cut because you paid into (or not) some other scheme.

Sure sounds like theft to me..

I thought the rule only applied if you paid into the other pension program INSTEAD of social security. 

Did you have social security contributions witheld from your paycheck?

Roboturner

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Re: Race from $2M to $4M...and Beyond!
« Reply #3538 on: July 27, 2020, 08:34:32 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3539 on: July 27, 2020, 09:05:56 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

It's just a number, but it still feels kind of good, doesn't it?  Welcome.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3540 on: July 27, 2020, 01:04:20 PM »
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Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

Wow! Such an accomplishment at your age.   Job well done.  Wishing I'd been as focused.  Welcome aboard.

Car Jack

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Re: Race from $2M to $4M...and Beyond!
« Reply #3541 on: July 27, 2020, 01:26:47 PM »
I do find it interesting how recent talks about the next Covid payment and how the White House was saying they would not sign anything without reduced payroll taxes.  Well.....payroll taxes are social security and medicare.  Cut those and that 2034 date for a cut in payments gets pulled in.  Those in office won't care until the AARP folks are alerted.  They vote.  They'll vote out anyone who dares touch that 3rd rail.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3542 on: July 27, 2020, 03:28:56 PM »
I do find it interesting how recent talks about the next Covid payment and how the White House was saying they would not sign anything without reduced payroll taxes.  Well.....payroll taxes are social security and medicare.  Cut those and that 2034 date for a cut in payments gets pulled in.  Those in office won't care until the AARP folks are alerted.  They vote.  They'll vote out anyone who dares touch that 3rd rail.

From your lips to God's ears...

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #3543 on: July 28, 2020, 05:44:56 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

Wow.  At 31 in a MCOL area, that's absolutely amazing.  Can I ask what your annual expenses are? 

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #3544 on: July 28, 2020, 06:44:17 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!
I saw your post on the other thread yesterday and figured you'd turn up here soon. Congratulations and welcome aboard!

soccerluvof4

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Re: Race from $2M to $4M...and Beyond!
« Reply #3545 on: July 28, 2020, 09:09:31 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!
I saw your post on the other thread yesterday and figured you'd turn up here soon. Congratulations and welcome aboard!


Well Done and Welcome!

BlueHouse

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Re: Race from $2M to $4M...and Beyond!
« Reply #3546 on: July 28, 2020, 10:32:40 AM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

Wow.  At 31 in a MCOL area, that's absolutely amazing.  Can I ask what your annual expenses are?

Congratulations!  I just eeked in too and am hanging on by my fingernails.  I hope I don't have to leave again (although the people here are so kind they didn't evict me).  It feels great to be here!

LWYRUP

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Re: Race from $2M to $4M...and Beyond!
« Reply #3547 on: July 29, 2020, 03:32:33 AM »
I also squeaked back in the club in June, then got kicked out, then back again in early July.  Hopefully this time for good but who knows?

LightTripper

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Re: Race from $2M to $4M...and Beyond!
« Reply #3548 on: July 29, 2020, 03:37:16 AM »
Welcome in new peeps!

Car Jack

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Re: Race from $2M to $4M...and Beyond!
« Reply #3549 on: July 29, 2020, 09:44:08 AM »
I also squeaked back in the club in June, then got kicked out, then back again in early July.  Hopefully this time for good but who knows?

If anyone tries to kick you out, here's a guest pass (hands over pass).  You're welcome in here.