David Ramsey talks about stocks, mutual funds, etc.. whereas I made my money by being an active investor in real estate.

Transferring a 1031 exchange property into an LLC shortly after purchase typically won’t trigger immediate tax consequences for your wife if the LLC is a disregarded entity, as you file jointly.This post does not create a CPA-Client relationship.

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

They have seem my flips and know my business in some ways and are now starting to get more and more interested.Our 2025 plan, for the first time, is to have two family meetings a year where I go through all of our real estate, stocks, cash, and any other assets and explain to them how each one makes money.

If you choose to sell, consider post-retirement timing, installment sales, or a 1031 exchange to mitigate taxes.

The same can be done with C corporations through distribution of different classes of stock, but this is much more complicated.  

I am not a fan of the stock market.

However, if I earn too much “earned income,” I risk losing these essential benefits.That’s why I’m exploring real estate and the stock market, as these generate “unearned income” and allow me to maintain my benefits while building financial security.

Ultimately, I realized that trying to wait for a perfect moment feels a lot like attempting to time the stock market or predict a real estate bubble.There may be advantages to waiting and seeing how the election affects market policies, but it's hard to predict when those policies will take effect or how they’ll impact the market.

I don't think a gift card is necessary at this point, but if you can exchange addresses and phone numbers that would be great.Think like a neighbor....they are going to be worried about parties, noise, trash, etc.