All Forum Posts by: Account Closed

Let me see if I understand this correctly. She invests her money in a work 401k without your approval or blessing, however you must run your investments past her and she has veto power? Karyn Tapley has great advice set up your own sd401k and direct your own investments. If she opposes you and or needs a business plan ask for one from her. I'd want stock annual reports, asset allocation, balance sheet info, price to earnings Morningstar ratings, future price projections. She should be able to tell you why each of her funds and or stocks are a good investment. If she's like most mutual fund investors these concepts are foreign and she's investing with the herd. Not knocking her. All I'm saying is if real estate investing is something your set on go for it!

Let me see if I understand this correctly. She invests her money in a work 401k without your approval or blessing, however you must run your investments past her and she has veto power? Karyn Tapley has great advice set up your own sd401k and direct your own investments. If she opposes you and or needs a business plan ask for one from her. I'd want stock annual reports, asset allocation, balance sheet info, price to earnings Morningstar ratings, future price projections. She should be able to tell you why each of her funds and or stocks are a good investment. If she's like most mutual fund investors these concepts are foreign and she's investing with the herd. Not knocking her. All I'm saying is if real estate investing is something your set on go for it!

If someone only makes 60,000 a year and lives like a pauper with no debt then in 25 years blah, blah, blah you will have 1 million. WHO CARES??

I agree with @joel Owens. I'm one of those people who worked hard saved money invested every extra cent in mutual funds, company match, make six figures for Fortune 500 company everyone has heard of.  I'm debt free, have a long term horizon all the koolaid that they gave me I drank.  So let's see how it worked out for me.  I'm 44 have been investing for almost 20 years and I see no retirement in my horizon anytime soon. I work because I have too. Oh and did i mention i live below my means? I have 2 boys and want to stay home with them but can't. I don't know anybody that got rich investing in mutual funds. Forget rich I'm just looking to uncuff the handcuffs corporate America has on me. As for my old coworker who invested in real estate for the last 20 years how did it work out for him? He lives in a 3 million dollar house, left the corporate world many years ago, is very involved in his kids lives, and just purchased a Ferrari for Xmas all cash.  Just sayin

Joel,

I set up a sdira and then funded my LLC. I did not use an attorney rather a CPA. I use the money to lend to a rehabber. I use Pensco which is headquartered in Denver.

Pros: my retirement is now in my control and not dependent on the stock market

I have more investment opportunities 

The money you make is tax free

Cons: I have more investment choices (I could choose wrong)

Expensive- state of Ca $800 yearly fee, CPA fees, LLC setup fees etc

There are specific rules that can't be broken. It's up to you not to break them and your custodian will not give you tax advice. (This is where my CPA comes in).

Overall definitely worth it. 

Good luck!

I will be in attendance 

Jeanette