Thanks guys. Been busy dealing with a basement flood. I'll try to answer the questions without the longest multi-quote in internet forum history. It goes without saying but, a big thank you to everyone who gave me advice..
- why so much in bonds? I'm a nervous nelly. If I can hit 2.5% net with a 50/50 portfolio- and i believe that is reasonable (do you?)- that's way more than I can see myself ever wanting or needing. I can adjust down the road if the predictions that bonds are long term losers proves closer and closer to true.
-dividend etf- You hit a sour spot here. I debated going that route for a long time. I might still. You make fair points, all of which I considered. And am still considering. I'm talking about low cost index funds here, so I think it might be six one half dozen the other. Naive? Thanks.
- gift taxes. I am giving most of my money away through what my guy calls "lightning-trusts." This avoids gift tax entirely.
- Suggestions of monthly stipend to parents vs lump sum- I will be giving them a monthly stipend on top of the lump sum (via said trust), I just didn't mention it in the OP. The lump sum is for debts. The stipend amount over 14k annually will "count" towards the gift tax penalty, the lump sum, per cpa (I'm getting second opinions on this to make sure as we speak) will not.
- "Charity to parents." heh. Punishment accepted. Terrible choice of words.
- 2 mill home. I probably won't buy anything that expensive. I just want to know that I could, and be reasonable in doing so. I will say though that the areas I am considering settling down (seattle and boulder), 2 mill doesn't buy a mansion or anything close. The problem I'm finding is that frankly, most young people w/ money want a condo. I don't. So the picking for housing in that range is mostly about making huge compromises for someone like me. Such as 300-500k in "kid amenities" that I don't want or need. First world problems.
- Am I trolling? I'm not. But for the sake of solidarity, you can assume I am and nothing about the thread will change from the advice-givers perspective. Either way it's the same intellectual exercise from your POV. Agree?
- estate attorneys, cpa's, and liability coverage- got it down. Probably overspent. Oh well. Like I said, I'm a nervous nelly.
- No, I did not win a lottery. heh.
- detailed planning. I'm comfortable with fee-based advisors. I know that I will miss out on many "can't lose exotics," (I say that half-sarcastic and half totally serious) but I don't think I'll screw up majorly, either. The biggest way I can screw up as I see it, is with tax planning. I've hired several people with several different hats to help me with this (all fee-based). I'm under no delusion that I'm bulletproof, but I feel I know enough to do this on my own so long as I don't complicate things unnecessarily. I'm happy with a 2.5% return with the knowledge that maybe 3.3% was obtainable if only I hired a team of guys I don't really know/trust. I'm at peace with this.
- why a bond fund instead of CD ladder? Ronstar, if you have time I'd love to hear you elaborate on this opinion. Thank you.
If I missed anything please let me know. Thanks again for this resource.
- why so much in bonds? I'm a nervous nelly. If I can hit 2.5% net with a 50/50 portfolio- and i believe that is reasonable (do you?)- that's way more than I can see myself ever wanting or needing. I can adjust down the road if the predictions that bonds are long term losers proves closer and closer to true.
-dividend etf- You hit a sour spot here. I debated going that route for a long time. I might still. You make fair points, all of which I considered. And am still considering. I'm talking about low cost index funds here, so I think it might be six one half dozen the other. Naive? Thanks.
- gift taxes. I am giving most of my money away through what my guy calls "lightning-trusts." This avoids gift tax entirely.
- Suggestions of monthly stipend to parents vs lump sum- I will be giving them a monthly stipend on top of the lump sum (via said trust), I just didn't mention it in the OP. The lump sum is for debts. The stipend amount over 14k annually will "count" towards the gift tax penalty, the lump sum, per cpa (I'm getting second opinions on this to make sure as we speak) will not.
- "Charity to parents." heh. Punishment accepted. Terrible choice of words.
- 2 mill home. I probably won't buy anything that expensive. I just want to know that I could, and be reasonable in doing so. I will say though that the areas I am considering settling down (seattle and boulder), 2 mill doesn't buy a mansion or anything close. The problem I'm finding is that frankly, most young people w/ money want a condo. I don't. So the picking for housing in that range is mostly about making huge compromises for someone like me. Such as 300-500k in "kid amenities" that I don't want or need. First world problems.
- Am I trolling? I'm not. But for the sake of solidarity, you can assume I am and nothing about the thread will change from the advice-givers perspective. Either way it's the same intellectual exercise from your POV. Agree?
- estate attorneys, cpa's, and liability coverage- got it down. Probably overspent. Oh well. Like I said, I'm a nervous nelly.
- No, I did not win a lottery. heh.
- detailed planning. I'm comfortable with fee-based advisors. I know that I will miss out on many "can't lose exotics," (I say that half-sarcastic and half totally serious) but I don't think I'll screw up majorly, either. The biggest way I can screw up as I see it, is with tax planning. I've hired several people with several different hats to help me with this (all fee-based). I'm under no delusion that I'm bulletproof, but I feel I know enough to do this on my own so long as I don't complicate things unnecessarily. I'm happy with a 2.5% return with the knowledge that maybe 3.3% was obtainable if only I hired a team of guys I don't really know/trust. I'm at peace with this.
- why a bond fund instead of CD ladder? Ronstar, if you have time I'd love to hear you elaborate on this opinion. Thank you.
If I missed anything please let me know. Thanks again for this resource.