Allocation of rent.

A helpful tip is to create a budget that allocates money for both savings and guilt-free spending.

I also think sometimes people underestimate or don't properly account for longer term cap ex costs so there is some money allocated there as well (maybe more than some people allocate).

We allocate 100% of the money to an SP500 Index Fund.

And, because you have been depreciating, you know what your original depreciation basis was for the dwelling structure and how much of your purchase price was allocated to the land at the time of your purchase.  

As a side note, I did a research project on lotteries back when I was an undergraduate, and as it turned out most of the states simply eventually substituted regular expenditure for lottery money - in other words, all the benefits such as increased money for education et al were never realized since the states just used the money that had been allocated before the lottery to do tax cuts or spend on other projects. 

Every time I want a new toy or a liability, my agreement with my wife is that I just have to do another deal that pays for it and allocate those funds appropriately.

Areas with more senior water rights will probably fare better and areas that rely on groundwater (Pinal County and many of the newer developments that don't get allocations from CAP) may fare worse, assuming current water rights remain in place and play a role.

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How does the 5% RE allocation jive with that  I wonder?