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  • #16
    2022. I am excited to start Roth conversions.

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    • #17
      Originally posted by VentAlarm View Post

      What does “Big Heath” mean?
      He started a Christian Healthcare Sharing Ministry and he accepts premium money and then denies all claims.

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      • #18
        Originally posted by CordMcNally View Post

        He started a Christian Healthcare Sharing Ministry and he accepts premium money and then denies all claims.
        A Christian Science Healthcare Sharing Ministry!

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        • #19
          Originally posted by VagabondMD View Post

          I am referring to a large health insurance company, that everyone knows, that I choose not to name in social media settings (or forums).
          Got it. Wasn’t trying to “out” you online, just didn’t know what you meant.

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          • #20
            Originally posted by VagabondMD View Post

            I am referring to a large health insurance company, that everyone knows, that I choose not to name in social media settings (or forums).
            Aka. The dark side of the force 🤪

            Childhood friend doc also high ranks of AIM....which is the ultimate dark side

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            • #21
              Had a baby to kickoff the year. She'll be 1 the first week of January. She already has 60k saved for college... she is happy and healthy.
              Moved into custom built home during the winter storm in February.
              Eclipsed 7 figure NW not including personal residence value and mortgage (conventional limits, FWIW). Also doesn't include my wife's retirement, which would add around 100k. I'm 35 and was worth -270k at 32... so, I'm pretty happy with things.

              2022 goals- add another 7 figures to the NW. Predictions are for a rocky 2022 market given interest rate stuff, but I'll see what I can do.
              -get back to a single digit handicap (I'm a 10-11, but I'd like to be a 5 or better).
              -do all the estate planning stuff I've been putting off.

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              • #22
                Originally posted by Brains428 View Post
                Had a baby to kickoff the year. She'll be 1 the first week of January. She already has 60k saved for college... she is happy and healthy.
                Moved into custom built home during the winter storm in February.
                Eclipsed 7 figure NW not including personal residence value and mortgage (conventional limits, FWIW). Also doesn't include my wife's retirement, which would add around 100k. I'm 35 and was worth -270k at 32... so, I'm pretty happy with things.

                2022 goals- add another 7 figures to the NW. Predictions are for a rocky 2022 market given interest rate stuff, but I'll see what I can do.
                -get back to a single digit handicap (I'm a 10-11, but I'd like to be a 5 or better).
                -do all the estate planning stuff I've been putting off.
                Holy cow. Are you making 600+ to increase NW >1.25M in 3y?

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                • #23
                  Originally posted by Brains428 View Post
                  Had a baby to kickoff the year. She'll be 1 the first week of January. She already has 60k saved for college... she is happy and healthy.
                  Moved into custom built home during the winter storm in February.
                  Eclipsed 7 figure NW not including personal residence value and mortgage (conventional limits, FWIW). Also doesn't include my wife's retirement, which would add around 100k. I'm 35 and was worth -270k at 32... so, I'm pretty happy with things.

                  2022 goals- add another 7 figures to the NW. Predictions are for a rocky 2022 market given interest rate stuff, but I'll see what I can do.
                  -get back to a single digit handicap (I'm a 10-11, but I'd like to be a 5 or better).
                  -do all the estate planning stuff I've been putting off.
                  I am also genuinely curious ( if you feel comfortable answering )
                  how you plan to increase net worth by 1 million in 1 year

                  by saving ( obviously possible if you make a lot , you might be a neurosurgeon ( brains )
                  Or playing with stocks/ options ! Or real estate

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                  • #24
                    VentAlarm aside from year 1, yes. Little bit of geographic arbitrage, a little bit of hustle, a little bit of luck.

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                    • #25
                      uksho options and real estate. The real estate has been the safer play to this point (3 single family homes with some renovations). The NW does include the value of those homes and the loans against them.

                      The adding 7 figures is a lofty goal--- but why not set the bar high?

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                      • #26
                        Sold 47 units apartments in May, 28 units in SDIRA and 19 outside of IRA. Moved $450K out of SDIRA by reassigning the ownership of it's portion of some apartment units to myself and did $400K Roth conversions in Schwab, all tax free due to real estate generated losses, mostly paper due to cost segregation depreciation. In 2022 plan selling another 24 units, the last in the SDIRA and hope to move the $ out of the IRA if I can find something to buy and again do a cost seg, study to cover the distribution. 2022 is the last yr before the law starts to sunset.

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                        • #27
                          2021
                          The positive: Skied Taos, Park City, and 2 separate weeks at Arapaho Basin.
                          The negative: Nozawa Onsen, Japan and Chugach, Alaska both cancelled due to Covid related issues.
                          More positive:
                          Trip to Egypt.
                          Real estate related investments with bonus depreciation will shelter all income from federal tax for 2021.
                          Net worth increased by healthy 7-figure amount.

                          2022
                          Looking to ski Chugach, Alaska, Hintertux, Austria, Jackson Hole and Taos, plus maybe Telluride.
                          Planning trip to New Zealand.
                          Considering real estate related strategy for 2022, and not sure about further investments given current pricing, but the bonus depreciation at 100% starts to go down as of 2023.

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                          • #28
                            Originally posted by Brains428 View Post
                            uksho options and real estate. The real estate has been the safer play to this point (3 single family homes with some renovations). The NW does include the value of those homes and the loans against them.

                            The adding 7 figures is a lofty goal--- but why not set the bar high?
                            Infant, medical practice, renovating/managing three rentals, and options… You sound like a pretty busy guy but no better time to grind than early career. Congrats and good luck in 2022.

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                            • #29
                              Originally posted by Brains428 View Post
                              uksho options and real estate. The real estate has been the safer play to this point (3 single family homes with some renovations). The NW does include the value of those homes and the loans against them.

                              The adding 7 figures is a lofty goal--- but why not set the bar high?
                              Thanks for the reply! No harm in setting the bar high . Congrats !

                              Comment


                              • #30
                                Originally posted by TheDangerZone View Post

                                Infant, medical practice, renovating/managing three rentals, and options… You sound like a pretty busy guy but no better time to grind than early career. Congrats and good luck in 2022.
                                Honestly, I couldn't do it without my wife. We are similar spenders (as in, we don't tend to accumulate stuff for the sake of doing so). She is also very supportive of all the projects. She is a rockstar mom and overall great person.

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