Related Posts
Didn’t realize crypto had MLK Jr sales too! 🤑💰
It’s so fucking hard to make friends in SF.
Conversation Starter
More Posts
Is demand forecasting still a problem to be solved in today's FMCG industry? Or are all the possible solutions already there? We can always innovate and improve our forecasting models but just wanted to understand the market. HSBC India Tata Consultancy Accenture Infosys WNS Global Services EY Deloitte PwC KPMG
Bowl Leader
Conversation Starter
Hi Fishes,
I Will be Joining PWC AC B as SA2 on Sept 2,2022. Just want to know about Appraisal cycle. Is it Mid Year or Annual appraisal process. Also, will I be eligible for next appraisal cycle ? Tried asking the same Question to HR, but didn't get a proper response. She just mentioned as per company policy.
Pwc AC Deloitte USI EY PwC
Additional Posts in Personal Investment Chatter
What stocks are you betting on for 2018?
Is stock market surging tomorrow?
Pro
Conversation Starter
New to Fishbowl?
unlock all discussions on Fishbowl.
I like the hustle but I think I would hedge a little with a 529 as well. 16 years is a long time of compounding interest.
The 529 can be used by anyone. So if your kids don't completely use it, your grandkids could.
I did it. Bought a house to rent out and should be paid off right before the kids start college. $2200 a month in rent so that should cover their tuition
No worries OP. Be sure to weigh the pros/cons to see if it will be a good fit for you and your long term goals. Def think about taxes, maintenance, turnover, HOA, and other miscellaneous expenses. The biggest advise I can offer is that if you do decide to go down this path then talk to an accountant to make sure you structure it the right way from the beginning. Also, always try to stay diversified in your investments.
As for a 529, talk to a financial advisor. Sometimes it might not be the best way and they may have other vessels that could be more beneficial due to your tax bracket and other variables.
Rising Star
Could you rent out the condo at a rate greater than mortgage + insurance + other things and put the proceeds into 529?
Possibly! I’d need to look at the numbers as I’m not familiar with rent prices in this area. New to this city.
That’s one oversight on my part, I need to look at the mortgage cost vs rental price.
I feel like the stock market delivers better returns. I’ve owned a house for 21 years and it has maybe tripled in value over that time, but my 401k has performed very well in half that time. And mutual funds are diversified so you have a better safety net. I’ve been contributing into my kid’s college plan and it has grown nicely.
Rising Star
529 grows tax free if used for education. You’d have to pay taxes on your RE gains when you sell.
Just remember the long term returns on real estate are relatively poor. The past ten years were an anomaly. That really puts a lot of weight on the rental income. Make sure you factor in reasonable repair and maintenance costs to that calc and the time and stress factor of dealing with tenants.
Makes sense
Second 529. I opened one up and every money gift my daughter gets I deposit it into it. I advise people on the tax benifits as well depending on your state.
Pro
You’re basically asking whether real estate is a good investment. I’d probably go with sp500 based 529 myself.
Real estates is not a bad one if you have some leg up. If you can manage it yourself, you found an amazing deal, you are into construction, you want to leverage brrrrrrrrrrrrrr stratagy, you found an amazing deal, have some free time on your hands, etc.
But if you’re dreaming of an investment where you make a monthly mortgage payment and watch rent checks flow in without any other issues, that’s usually not how it goes.
It becomes a tougher sell when you add the tax advantages of a 529.
Pro
Well, if your family’s got fortunes, just relax! 🤣
There are other investment vehicles available . Real estate is tricky. But to each their own!
Mutual funds. Too many to list but historically many have higher ROI compared to a similar real estate asset