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He's asking for an invite
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Jul 14, 2022 18:18
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I logged onto my Vanguard account for the first time since March and wow that balance is upsetting. Reminder to ignore the white noise.
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Jul 14, 2022 19:39
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Tyro posted:Yeah WSB was always semi-entertaining trash, but ~2 years ago you could find some interesting information and analysis among all the dumb jokes. After Gamestonk became a thing most of the more serious posters left for private subreddits because of the influx of even dumber posters Epitope posted:He's asking for an invite  Along those lines, a few of my partners are involved in various syndicated RE groups as well as VC deals that they seem to be quite happy with return wise. Does anyone have any good resources for reading up on how to evaluate deals like this? I'm particularly interested in trying to figure out how these might be efficient in terms of taxes, as currently 95% of our income is W2-based and we get absolutely destroyed.
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Jul 14, 2022 19:48
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Residency Evil posted:
You just can't stop trying to do doctor things with your money, can you? Don't be dead med cash for these groups. You know better.
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Jul 14, 2022 20:49
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Motronic posted:You just can't stop trying to do doctor things with your money, can you? Don't be dead med cash for these groups. You know better. I’m just looking for more tax efficient ways to invest. 
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Jul 14, 2022 21:31
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 Taxes? You guys have gains?!
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Jul 14, 2022 21:37
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GoGoGadgetChris posted:
Well, maybe gains again one day. 
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Jul 14, 2022 21:46
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Residency Evil posted:
Would start with BiggerPockets for anything Real Estate related. Bigger Pockets Money podcast episode 219 is a good intro and probably has references to the things that you'll need to review. My personal thoughts are: 1) Just listen to Motronic. 2) Syndication manager and strategy and fund evaluation seems like a lot of work. Definitely more work than buying VTI. 3) Beyond being more work, there's a chance all my money just disappears. 4) Beyond that issue, there's a huge degree of illiquidity (at least with the things I was looking at). Theoretically this should result in a return premium, but I don't need a premium over the broad equity market to achieve all of my financial goals and more within a timeframe I'm comfortable with. 5) Moana I think at one point mentioned how K-1's loving suck for tax preparers. Sounds like half a problem for my CPA, but I like being all done with my taxes each year in March.
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Jul 15, 2022 01:40
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Residency Evil posted:
Doctors: notably a group that knows things about investing. I know motronic kicked my rear end to this one but it bears repeating. You make a lot of money, just pay your taxes. It’ll work out a lot better for you in the end.
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Jul 15, 2022 02:14
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CubicalSucrose posted:4) Beyond that issue, there's a huge degree of illiquidity (at least with the things I was looking at). Theoretically this should result in a return premium, but I don't need a premium over the broad equity market to achieve all of my financial goals and more within a timeframe I'm comfortable with. rational reminder podcast recently was discussing private equity and brought up some research that investors are paying a premium for illiquidity, not receiving a premium. the suggested explanation is that not having your position constantly marked to market smooths out returns and gives the appearance of lower risk, which is attractive to investors, especially institutional investors who knows if it's true, but i find it amusing
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Jul 15, 2022 04:02
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Alliant CU HYSA rate is back up to 1.2% now.
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Jul 15, 2022 04:37
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Actual venture capitalists are multimillionaires. Doctors are a product sold to VC companies looking for gullible cash. Don't be that product.
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Jul 15, 2022 05:15
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Residency Evil posted:I’m just looking for more tax efficient ways to invest. Listen to Motronic. Also maybe consider tax-free muni funds for the fixed income part of your portfolio, depending on how the tax math works for you.
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Jul 15, 2022 05:59
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Give me money to fund my hobbies and if any of those hobbies ever make money, I'll pay you back. That's a better deal than those VC companies will give you.
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Jul 15, 2022 06:02
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Does your hobby involve bitcoins.
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Jul 15, 2022 06:04
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no
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Jul 15, 2022 06:16
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i'm sure i've asked about hysa before but i didn't put any money before but i need some place so there are some other online only banks offering 1.8 (Brio), 1.65 (Bread) and 1.40 (Live Oak)... is there a site that does good reviews? They're all FDIC insured so it shouldn't matter right if I don't care about having a checking account etc. What about CDs with these companies? NerdWallet seems to give all of them 4+/5 stars and DepositAccounts seem to go to the opposite
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Jul 15, 2022 06:18
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KillHour posted:Give me money to fund my hobbies and if any of those hobbies ever make money, I'll pay you back. I just got a $500 distribution from my hobby. At this rate I’m making like 0.03-0.04$ per hour.
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Jul 15, 2022 06:59
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Strong Sauce posted:i'm sure i've asked about hysa before but i didn't put any money before but i need some place so there are some other online only banks offering 1.8 (Brio), 1.65 (Bread) and 1.40 (Live Oak)... is there a site that does good reviews? They're all FDIC insured so it shouldn't matter right if I don't care about having a checking account etc. What about CDs with these companies? NerdWallet seems to give all of them 4+/5 stars and DepositAccounts seem to go to the opposite The biggest thing is yes, just make sure there is a big FDIC insured stamp for whichever bank. Most people either go with a known brand, which tends to be Ally, AmEx, Citi, etc, or their local credit union (still known locally and FDIC insured, just not nationally known). HYSA are naturally influx with rates going up quickly , so I wouldn’t base it on “does bank A have 0.05% more savings rate than bank B?” Because they’re all changing. I use Ally, and my bank rate changed twice this month, currently at 1.25%. The ones you listed don’t ring a bell to me, but I also haven’t looked in years. I will say 1.6 to 1.8 seems higher than what most current rates are, so I would just double check and make sure they don’t have some catch or loophole. I would bet HYSA rates will hit 2% in like , the next 2-6 months , but they’re not quite there yet. Overall, I would recommend just picking one. I have had Ally for 12 years now (good god), and I’ve been super happy with them , but they’re all pretty similar.
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Jul 15, 2022 12:52
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Bread owns Comenity, and Comenity has had their online account management services down for the past month. I’d pass on Bread just for that.
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Jul 15, 2022 13:25
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Are there any gotchas or tax implications to buying CDs through a brokerage instead of through a bank? I'm looking to park some short/medium term cash somewhere better than a HYSA, and it looks like there are much better interest rates available through my brokerage. For example, a 12 mo CD at Ally is yielding 1.9%, but I can get 3% instead. Sorry if this is a dumb question - I don't have much experience with brokerage accounts outside of retirement funds, so I want to be sure I'm not doing something stupid.
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Jul 15, 2022 15:34
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you ate my cat posted:Are there any gotchas or tax implications to buying CDs through a brokerage instead of through a bank? I'm looking to park some short/medium term cash somewhere better than a HYSA, and it looks like there are much better interest rates available through my brokerage. For example, a 12 mo CD at Ally is yielding 1.9%, but I can get 3% instead. This probably has all the info you're looking for: https://www.investopedia.com/terms/b/brokered-cd.asp But 1 year US treasury bills are also at 3% right now, so you could always just get those instead.
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Jul 15, 2022 16:22
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Leperflesh posted:Actual venture capitalists are multimillionaires. Doctors are a product sold to VC companies looking for gullible cash. Don't be that product. I want to emptyquote this as hard as I can You may be making good W-2 money but you are a joke to the investment world. High income, low-discretionary time workers are their absolute favorites because you have the perfect combination of overconfidence in your intuition and no time to check their work. There is a finely-tuned series of arguments and techniques specifically designed to convince you to take YOUR MONEY and put it in THEIR POCKETs because to them you are the perfect mark. Residency Evil posted:I'm particularly interested in trying to figure out how these might be efficient in terms of taxes, as currently 95% of our income is W2-based and we get absolutely destroyed. They have succeeded in appealing to your greed. Shake it off. Hire an accountant if you want to figure out tax breaks.
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Jul 15, 2022 16:42
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you ate my cat posted:Are there any gotchas or tax implications to buying CDs through a brokerage instead of through a bank? I'm looking to park some short/medium term cash somewhere better than a HYSA, and it looks like there are much better interest rates available through my brokerage. For example, a 12 mo CD at Ally is yielding 1.9%, but I can get 3% instead. CDs sold by banks are actually the gotchas most of the time, in general they're significantly worse. You can't transfer them, you can't resell them if you need the money now, and they have worse rates.
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Jul 15, 2022 16:51
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Also re: private WSB sub, I was in it for a year but it had requirements to stay in in terms of posting and I fell off after I started grad school and got the boot. The entrance requirement was something like make an actual good post on WSB, gamble at least $50k on it, and don't be involved in any of the GME conspiracy poo poo. This is a good example of the post that would get an invite: https://www.reddit.com/r/wallstreetbets/comments/vzclge/a_golden_opportunity_casino_crashing_imminent/
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Jul 15, 2022 17:00
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withak posted:Alliant CU HYSA rate is back up to 1.2% now. I asked before and while I'll probably pick up some bonds at the end of the month, I did find that https://www.quontic.com/ has a HYSA with a 1.85% APY. Going to give that one a shot from HMBradley.
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Jul 15, 2022 17:12
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you ate my cat posted:Are there any gotchas or tax implications to buying CDs through a brokerage instead of through a bank? I'm looking to park some short/medium term cash somewhere better than a HYSA, and it looks like there are much better interest rates available through my brokerage. For example, a 12 mo CD at Ally is yielding 1.9%, but I can get 3% instead. Depending on the amount, consider I-bonds too if you don’t mind the money being locked up for a year. Rate is pegged to inflation that updates every 6 months. In the past it under performed everything due to low inflation but in this environment it has skyrocketed. Check out the last 5-10 pages for some in-depth conversations on them, and make sure to understand the ins and outs, like the changing rate, 1 year lock out, 3 month gain loss if cashed out in under 5 years, $10k contribution yearly limit per person (some options to increase this) etc. Right now it’s a great place for 2/3 of my emergency fund. If it ever sinks below HYSA rates I’ll consider moving it back. Loan Dusty Road fucked around with this message at 17:37 on Jul 15, 2022 |
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Jul 15, 2022 17:31
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ranbo das posted:Also re: private WSB sub, I was in it for a year but it had requirements to stay in in terms of posting and I fell off after I started grad school and got the boot. Before it went to hell, wsb had a similar vibe to when SA was popping off. Bummed me out when it got too famous and spammy. Although 10$ is sure an easier fee than 50k
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Jul 15, 2022 18:52
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I had an M.D. friend who passed me to a new York life sales jerk. Like, I had to extricate myself from some hard sales crap cuz he, well I don't know what he thought, if he used them or was just too much of a wuss to tell them no I won't let you in my friend's door
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Jul 15, 2022 19:31
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KYOON GRIFFEY JR posted:Doctors: notably a group that knows things about investing. I like to think I'm not totally clueless when it comes to investing. Heck, I have a feeling I'm doing pretty decently so far. CubicalSucrose posted:Would start with BiggerPockets for anything Real Estate related. Bigger Pockets Money podcast episode 219 is a good intro and probably has references to the things that you'll need to review. Thanks. I've been avoiding Biggerpockets, but it sounds like it may be a decent resource. 4 is what I'm primarily curious about. Like you said, illiquidity should give a return premium, and I'm fine with some illiquidity for a portion of my portfolio. I do remember Moana mentioning the multiple K-1s being a PITA. Not a Children posted:I want to emptyquote this as hard as I can As you're insulting me, are you talking about VC or syndicated RE specifically? Leperflesh posted:Actual venture capitalists are multimillionaires. Doctors are a product sold to VC companies looking for gullible cash. Don't be that product. How about syndicated real estate then? Again, the spectrum here is wide, ranging from direct ownership of single properties to REITs. I don't have the time or energy to deal with single properties, but I'd be interested in learning about syndicated deals that may allow for a premium return/tax advantages at the expense of liquidity. Agronox posted:Listen to Motronic. Also maybe consider tax-free muni funds for the fixed income part of your portfolio, depending on how the tax math works for you. Will do, thanks.
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Jul 15, 2022 21:02
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Residency Evil posted:I like to think I'm not totally clueless when it comes to investing. Heck, I have a feeling I'm doing pretty decently so far. I think you're doing fine, you just appear to now be starting to listen to your fellow doctors about investing, which, like, you definitely know better.
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Jul 15, 2022 21:10
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Throwing like 5% of your long term portfolio into REITs isn't a completely terrible way to add (really, overweight) real estate to your asset allocation. Attractive properties, including large developments like condos and apartment buildings, have deep-pocketed investors clamoring to throw money at them. Look at the state of the real estate market for the last couple years, investor activity is insane. Why do you think a given property is instead being marketed as a crowdfunding exercise (that's basically what syndicated real estate is)? One answer is that the property is being overvalued (perhaps due to defects) to the extent big money isn't interested. Another answer is that via syndication a huge amount of fees can be extracted from the marks and those fees are larger than the expected return on a direct single-owner investment in the property. If you actually had the time to properly evaluate each property, you could just do that on your own and buy an investment property yourself. Of course that carries a concentration risk, so, if you'd like to be diversified, go for an REIT with a broad porfolio and low fees. If you don't have time to do that (you don't), you're trusting in grifters to do it for you and generously offer you a share in this exciting property. That's aggressive marketing for high-fee high-risk crap. People that show up to pitch poo poo to you, including real estate, VC deals, timeshares, it's grift. Look at it this way: why do these people put so much effort into marketing to doctors? It's because their investment options are not attractive to the broad market of high-income individuals on their own merits, they have to push them, and doctors are notorious marks. If what you actually want to do is avoid taxes, talk to an accountant who can advise you of your options for doing that, your state, actual income, and lots of specific details matter. If you want to save lots of money, index funds will do fine. If you want tax-efficient funds for outside your tax-advantaged accounts, those exist. If you want to put all your money in a trust in the cayman islands etc. I have no idea how to do that but I'm sure you can find a shady financial advisor who will charge you 1.5% of your money annually to do it for you. Leperflesh fucked around with this message at 21:24 on Jul 15, 2022 |
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Jul 15, 2022 21:20
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DNK posted:Bread owns Comenity, and Comenity has had their online account management services down for the past month. I’d pass on Bread just for that. Comenity is a big piece of garbage, avoid avoid avoid.
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Jul 15, 2022 21:21
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runawayturtles posted:This probably has all the info you're looking for: https://www.investopedia.com/terms/b/brokered-cd.asp Thanks, that link was really helpful. I'll look into treasury bills also, though they seem a little more confusing to me. Loan Dusty Road posted:<Good stuff about I Bonds> I maxed out on them in January, but thanks for the advice!
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Jul 15, 2022 22:12
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Anyone have good starter info for buying my first investment real estate house?
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Jul 18, 2022 20:32
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Don't.
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Jul 18, 2022 20:36
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The Puppy Bowl posted:Don't.
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Jul 18, 2022 20:39
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Fozzy The Bear posted:Anyone have good starter info for buying my first investment real estate house? It's a very risky financial proposition, and also you are talking about either starting a new part-time job as a landlord, or cutting into your theoretical profits by paying a management company to be a landlord for you. Also SA is pretty left-leaning and landlords are not popular around here. Lastly, if what you actually want to do is add real estate to your long-term portfolio, consider just putting a couple percent into REITs. You'll have a much more diversified investment and you won't have to be a landlord.
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Jul 18, 2022 20:43
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Basically ask yourself if you would buy a stock that, + Paid a (taxable) dividend of maybe 7% + Gave returns approximately equal to inflation - Had a ~3% expense ratio - Had a ~5% fee to sell - Took months to liquidate - Was leveraged and mortgaged - Was susceptible to risk on a country, state, county, city, even neighborhood-level
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Jul 18, 2022 20:54
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The Puppy Bowl posted:Don't. Yeah. Above and beyond the morality of landlording, interest rates are rising, markets are softening, and you have all of your liquid assets tied up in something that's even more illiquid than property would be on its own. Apartment complexes can deal with one bad tenant out of dozens or hundreds. You have your fortunes tied to one tenant. If that tenant's an rear end in a top hat, decides to trash your place, decides to stop paying, injures themselves or someone else, anything, your entire investment is at risk.
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Jul 18, 2022 20:55
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