calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We've been doing real estate loans for some time but have been cutting back - too much money sloshing around out there, interest rates too low, property values too high. Had a call yesterday from a longtime repeat borrower who is going to refi and pay us off in the next couple weeks. Real pleased to get the call - he's been paying a bunch of interest to us and hasn't been able to sell the house we hold the first on. Glad for him. Thing is, his payoff represents one tenth of our net worth, including homes and everything. After that payoff we will have 1/3 of our net worth in bank accounts and CDs. On the one hand that feels like a bit much. We still have a few contracts that will be paying for a few more years and the rentals are churning out substantially more than we need for our normal living expenses, though I'm slowly moving toward divesting of them - don't need the stress. But what to do?
We have about 16% of NW in various stocks/funds/ETFs and could add to those. Maybe house shop in a lower tax state, though if we shrink our income we won't have much for taxes to affect. We could do nothing and just spend from the pile but that doesn't feel normal for me - I like money to work. Wurra wurra.
Other than doing good in the world or giving to relatives do you have any useful suggestions for what to do with a surfeit? How would you spend/invest this?
We have about 16% of NW in various stocks/funds/ETFs and could add to those. Maybe house shop in a lower tax state, though if we shrink our income we won't have much for taxes to affect. We could do nothing and just spend from the pile but that doesn't feel normal for me - I like money to work. Wurra wurra.
Other than doing good in the world or giving to relatives do you have any useful suggestions for what to do with a surfeit? How would you spend/invest this?