XPost: soc.support.depression.family

On 8/30/24 09:10, a425couple wrote:

On 8/29/24 15:52, Trump's Bitch wrote:

On Thu, 29 Aug 2024 09:42:33 -0700, a425couple <a425couple@hotmail.com>
wrote:

from
https://www.aol.com/more-millionaires-among-us-thanks-090000058.html

More millionaires are among us thanks to ballooning 401(k), IRA balances >>> Yahoo Finance
Kerry Hannon
August 29, 2024 at 2:00 AM

Yeah, I have a family member that on paper is worth $600,000 dollars due
to real estate, but he is cash poor since he retired.

While I worked (1973 to 2001) I invested in a 403b (later became IRA)
and heavily in rental residential real estate.  Around 2010 I got real
tired of the newly developing rental problems, sold about 1/2 of them
and bought a fairly nice residence for myself and put rest into stock
mutual funds.  Been turning the rental real estate over to management companies.  Liberal trends have made it just too risky for the old
time mom & pop renting houses.

As to rental residential real estate, in general I found they lost
money the first 10 years.  then between 10 and 20 years mostly
broke even.  After that they became cash positive.  Time, and
predicable inflation (especially kicked up by Carter and Biden)
really heal lots of wounds and mistakes.

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