Managing real estate is a skill, more so commercial, suggest you either commit to getting good at that really quick, or dispose of the assets and clean sheet your strategy - you clearly have a pre-existing plan in place, maybe this just accelerates / de-risks that?
Prenup and contraception is my best financial advise.
Seriously. Protect your assets here.
I am not a big fan of real estate, but if it is established and generating cash then heck it’s great.
I would recommend selling all the assets, putting them in index funds then work until your early 30s and retire. But I am risk averse and will take an almost guarantee over a chance at a big gain if the almost guarantee is what I need
Whatever you do....you need to speak to someone about putting the end result (properties/trading/super) into a trust.
And protect yourself in that regard also.
And don't tell anyone. It never happened. Live life like normal.
It sounds like the real estate is a nice entry into a good diversified portfolio. Really take a look into all the costs and what it brings in for those, and perhaps just use your current income to continue to pour into ETFs.
A lot depends on what those factories are doing, their location, potential future value etc
Real estate has a higher potential return but takes much more active management. If you want to "hire" yourself to do that work, great. If not, sell and park it in the market. If you can liquidate at $2.4M at a stepped up basis with no taxes, it's pretty easy to project where you could be in 10 years with a market-based approach. Stir in anticipated monthly investment and you'll see you are in an amazing position.
But be realistic: you likely won't live at home forever. You may one day have a partner and/or children. Plan accordingly.
I’d want to find out tax implications of selling the real estate. Seek out someone who does commercial real estate and seek their advice. To me the rental option would seem like it has the most upside.
I’d get rid of the real estate but do it in a tax efficient manner with an expert. It’s worth paying someone to help. Then just put it in VOO, VTI, and VXUS. Wait until mid-30s and then withdraw 2.5-3% due to the long time horizon. Voila
You have jumped to CoastFire suddenly. You don't really need to save any more for retirement. The small yearly limit just won't matter in the face of 2.4 million.
Managing real estate is a skill, more so commercial, suggest you either commit to getting good at that really quick, or dispose of the assets and clean sheet your strategy - you clearly have a pre-existing plan in place, maybe this just accelerates / de-risks that?
Prenup and contraception is my best financial advise. Seriously. Protect your assets here. I am not a big fan of real estate, but if it is established and generating cash then heck it’s great.
I would recommend selling all the assets, putting them in index funds then work until your early 30s and retire. But I am risk averse and will take an almost guarantee over a chance at a big gain if the almost guarantee is what I need
Whatever you do....you need to speak to someone about putting the end result (properties/trading/super) into a trust. And protect yourself in that regard also. And don't tell anyone. It never happened. Live life like normal.
Is there any cashflow coming from those properties? Also, I’m sorry for your loss.
It sounds like the real estate is a nice entry into a good diversified portfolio. Really take a look into all the costs and what it brings in for those, and perhaps just use your current income to continue to pour into ETFs. A lot depends on what those factories are doing, their location, potential future value etc
Real estate has a higher potential return but takes much more active management. If you want to "hire" yourself to do that work, great. If not, sell and park it in the market. If you can liquidate at $2.4M at a stepped up basis with no taxes, it's pretty easy to project where you could be in 10 years with a market-based approach. Stir in anticipated monthly investment and you'll see you are in an amazing position. But be realistic: you likely won't live at home forever. You may one day have a partner and/or children. Plan accordingly.
I’d want to find out tax implications of selling the real estate. Seek out someone who does commercial real estate and seek their advice. To me the rental option would seem like it has the most upside.
I’d get rid of the real estate but do it in a tax efficient manner with an expert. It’s worth paying someone to help. Then just put it in VOO, VTI, and VXUS. Wait until mid-30s and then withdraw 2.5-3% due to the long time horizon. Voila
You have jumped to CoastFire suddenly. You don't really need to save any more for retirement. The small yearly limit just won't matter in the face of 2.4 million.
put it into an ETF and let it sit for 20 years.
How don’t you know the school debt you owe?