@CPAPlanner Here is my top 5....1. 1031 exchange 2. Depreciation loss to offset rental income 3. Step up basis on date of death 4. Refinance and cash out 5. 250k ind or 500k couple in exempted gains on owner occupied principal residential real estate
KEVIN O'LEARY JUST EXPLAINED THE EXACT FORMULA HE TELLS EVERY ENTREPRENEUR FOR FINANCIAL SECURITY
It's 2 sentences long.
Here's what he said:
"All you really need in the bank to be secure for the rest of your life is $5 million. The discipline is get to 5 million, put it in T-bills, and just look at it. Don't touch it."
He explained why: "If poo poo hits the fan, you're still good."
O'Leary said he's done this himself for years: "I have T-bills. I rolled a bunch of T-bills. That's my account and it always has been. I've never touched it. I buy dinner with the interest."
On gold? "You can also buy gold, but it doesn't have any yield."
At some point, the goal stops being growth. It becomes preservation.
@theficouple more balanced account would be...30% VTI, 30% GSEW, 10% VXUS, 10% in qqqi and drip it, 10% in gpix and drip it. IAUI 5% and drip it. 5% ICSH
@CryptoNobler If that was the case Bitcoin would be at 50k. Since Bitcoin is a risk asset on and is holding up means the markets will be fine tomorrow.