Recent content by Fantasm

Better margins in the used car biz anyways right?

I would be looking at ways for that $665K to be making you money on its own. Once you accomplish that, you can most definitely retire now. The best ways I can think of are 1) real estate and 2) business ownership. I would pick #1 and with $665K you should be able to generate approximately...

how did you grow 800k by an additional 200k in 1 year?

You need way more than $1MM to retire if you dont plan on having your $ work for you ... I wish I could be done and done already and just do whatever I want, and I just reached $1MM in assets -- but it just isn't enough -- not unless I want to drastically cut down on my life style. But maybe...

Hi I just had a thought. My parents are getting older, and I was thinking that when they get to the point where their health starts going and/or they require more frequent visits to the hospital, in-home care, etc -- who would pay for that? I had the thought of trying to hedge against those...

Not when you realize that all the hours you spend working, and close to 50% off the top of what you make is then paid out to someone else for doing nothing. Its like protection money or the mafia shaking you down for being on their turf. Here's a thought: Since I make more, and thus have to pay...

My taxes are gonna be $195K again :( Unmarried and no deductions :( I fully support (all expenses) my long-time girlfriend of almost 9 years, and I still can't claim even "Head of Household" as far as I understand the tax rule. So I can't even claim that. Makes me so sad/angry/depressed/annoyed...

Do you own your house outright? As in, have no payments other than property tax? What about renting it out? Could the income from the rental, plus your pension afford you enough to rent a place in Florida? You can easily find places to rent in warmer climates in the $400-$800 range now a days...

How does the risk for a boat go up 2-3% every year? What are you doing every single year that raises the risk of something happening to it? Do they expect us to incrementally build up inappropriate usage and storage of the boats until we get to the point where we just burn the boat down every...

I looked up the insurance I have on my 5 rental houses in South FL. I'm paying $400/year for each house valued at $125K. This is thru Cypress Insurance Group

You may want to advise them / they may want to start building credit. Even if they don't pay interest on their credit cards by paying off the balance each month, their credit history and score will grow. They may come to a point where they will severely regret not having any or enough credit...

I'm the first 20-24 as of now (im 24)

I'm paying $600/year~ for houses valued at around $115K How's that sound?

I'm 24 too and in my opinion a house is part of the FI and/or ER requirement, but kids are an obstacle to FI/ER. I would make sure that there was a lot more of a cash bankroll and a house deal had already happened before anything to do with even 1 kid happened. The time and effort you lose...

With a 30% downpayment, I would even be lenient on the credit rating. You are getting 30% down that is yours to keep even if you have to evict / foreclose them. That will easily cover the costs involved in the foreclosure plus any potential cleanup (carpet cleaning, painting) and still give you...