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soc / soc.support.depression.family / Re: More millionaires are among us thanks to ballooning 401(k), IRA balances

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o Re: More millionaires are among us thanks to ballooning 401(k), IRA balancesa425couple

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Subject: Re: More millionaires are among us thanks to ballooning 401(k), IRA balances
From: a425couple
Newsgroups: soc.support.depression.family, soc.support.depression.crisis
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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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