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Yahoo! Divesting of two!
Old 05-01-2007, 01:50 PM   #1
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Yahoo! Divesting of two!

Closing is today on the sale of two of our little rental houses. Had one for over 30 years and the other for 20 or so, so Unca Sam will be celebrating with us. One of those calmloki kinda sales - the buyer is a contractor/developer attracted by the land, location, and current income stream. He contacted us, we threw out a #, he made a reasonable counter, we stuck at our asking price, he came back after a few weeks and met our price. Walked him through once and the bank appraiser once. No corrections, repairs, or requirements. Nice to deal with a man who is familiar with property and knows whether he wants something. May have helped that his wife was a teller at the bank I run our rental account through, so she knew me for a # of years.

We've been pretty much 100% rental real estate - trying to move into something that is less hands on and allows more freedom and less stress. Currently we have roughly comparable amounts to the after-tax amount of this sale in PenFed's 3 year 6% and in various property loans. After subtracting 3.5% inflation I figure the loans and Penfed will provide about 21.5% of our desired annual retirement income. 'Course both of those investments are short term. The gal has a tiny new dab of Wellesley in her IRA, which I thought was a spiffy fund. Watching Unclemick and WAB and CFB argue it's merits or sing it's praises is entertaining - but I now note that none of them - including the cheerleaders - currently OWN Wellesley! Uhm.. hunh? I'm considering putting some $ into a European fund, thinking that if the dollar continues it's slide against the Euro that could provide a local profit even if it just marks time compared to Europe. I'm thinking that Billy has a point in selling stocks and paying tax just on LTCG. At 57 1/2 years of age I'm not real risk happy - no pensions, paid healthcare, SS entitlement in any appreciable amount. I figure by the time we divest of everything that we will need to make about 3.6% above a 3.5% inflation rate to support us at our current standard. Decisions decisions - put it all on black or park it in Vanguard Prime and keep reading...?
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Re: Yahoo! Divesting of two!
Old 05-01-2007, 02:21 PM   #2
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Re: Yahoo! Divesting of two!

I vote stuff it in the money market and do your reading first. The more you understand why you choose whatever investments you eventually decide on, the more likely you are to stick with your carefully thought out portfolio (rather than do stupid panicky stuff). Asset allocation is there to keep you from mortally screwing yourself.
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Re: Yahoo! Divesting of two!
Old 05-01-2007, 02:56 PM   #3
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Re: Yahoo! Divesting of two!

brewer's advice makes sense to me. Unless there is some urgency that we're unaware of, I think you'll be happy if you take your time, do some research and re-invest in something that you feel comfortable with, after having first 'slept on it' for a few weeks.
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Re: Yahoo! Divesting of two!
Old 05-01-2007, 09:13 PM   #4
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Re: Yahoo! Divesting of two!

Quote:
Originally Posted by calmloki
The gal has a tiny new dab of Wellesley in her IRA, which I thought was a spiffy fund. Watching Unclemick and WAB and CFB argue it's merits or sing it's praises is entertaining - but I now note that none of them - including the cheerleaders - currently OWN Wellesley! Uhm.. hunh?
Well, I'm a Wellesley apprentice, with currently 0.482% of my total Net Worth in it (hey, I'm EXTREMELY diversified - perhaps too much - so give me time. Besides, I'm only a 1st year Wellesley Apprentice, so cut me some slack! )

Oh, before I forget....pssst....Wellesley.
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Re: Yahoo! Divesting of two!
Old 05-01-2007, 10:09 PM   #5
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Re: Yahoo! Divesting of two!

Quote:
Originally Posted by calmloki

Watching Unclemick and WAB and CFB argue it's merits or sing it's praises is entertaining - but I now note that none of them - including the cheerleaders - currently OWN Wellesley!
Currently 37% of my portfolio is in Wellesley. I've also been giving serious thought to proposing to propositioning the Norwegian widow.

heh heh heh.....

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Re: Yahoo! Divesting of two!
Old 05-02-2007, 01:12 AM   #6
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Re: Yahoo! Divesting of two!

Quote:
Originally Posted by REWahoo!
Currently 37% of my portfolio is in Wellesley. I've also been giving serious thought to proposing to propositioning the Norwegian widow.

heh heh heh.....

Ok, now doggonit - do you have to sign off with heh heh heh if you are a Wellesley proponent?!
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