Best locations for a vacation/rental property?

Buck Rio wrote: All you Colorado brethren, please stop making me miserable with all of the talk of "Good snow" and "freshies".

I'm stuck in Minnesota with sub zero temps staring me in the face for the next week or so.

End of Feb I am going to Bozeman to ski, then JTree (fingers crossed) in March.

4 inches overnight, still dumping. 

Never More wrote:

4 inches overnight, still dumping. 

200+ so far.  Couldn't help myself Buck ;)

Have fun!  Not every year looks like this one.

Lamar

Matt N wrote:

Rental properties are another job. You have to put in a lot of time/work or pay someone to. Might as well work OT and invest the cash, unless you want a second or primary job as a landlord. 

That $67k invested in the S&P500 in 1985 would be worth over $2.2m now. 

You can’t get that done while you’re still in your 30s. It’s still just a long-term strategy. 

Buck Rio wrote: All you Colorado brethren, please stop making me miserable with all of the talk of "Good snow" and "freshies".

I'm stuck in Minnesota with sub zero temps staring me in the face for the next week or so.

You are right.  No good snow down here right now, it's sunny and 50 today.  
We'll probably taunt you again before this weekend, though, since the peaks are getting dumped on again.

Matt N wrote:

Rental properties are another job. You have to put in a lot of time/work or pay someone to. Might as well work OT and invest the cash, unless you want a second or primary job as a landlord. 

That $67k invested in the S&P500 in 1985 would be worth over $2.2m now. 

Many people starting out today might start a 401k at 25, but then scale it back so they can buy a house.  Then they are house poor for a while, and don’t resume significant retirement I nvesting until 35 or 40.  So, your argument of 35 years worth of exponential growth is a myth for Gen Y and Z.  Even as a Gen X, I haven’t been able to capitalize on 35 years worth of stock market growth.  Quit comparing what the forgotten generation and Boomers could do, with what the Y and Z can do.  The forgotten generation didn’t even take out mortgages, they paid cash for their houses, and could then start retirement planning at a very young age.

J T wrote:

Many people starting out today might start a 401k at 25, but then scale it back so they can buy a house.  Then they are house poor for a while, and don’t resume significant retirement I nvesting until 35 or 40.  So, your argument of 35 years worth of exponential growth is a myth for Gen Y and Z.  Even as a Gen X, I haven’t been able to capitalize on 35 years worth of stock market growth.  Quit comparing what the forgotten generation and Boomers could do, with what the Y and Z can do.  The forgotten generation didn’t even take out mortgages, they paid cash for their houses, and could then start retirement planning at a very young age.

I don't think that you are painting a very clear picture either.  It depends on income and spending habits.  Yeah, buy a new car, pay insurance and loans on that, and then you are going to have problems putting savings away.  Eating out all the time is expensive too, as is a $5k bike.  I'm GenX and came from a welfare-reliable family with a disabled mother.  Yet I've had investments since 23, probably mostly owing to being a careful spender and having 4 room mates in a house until I had solid financial footing.  I continued to add to those throughout my house-buying process, which I started at 27.  Several of my younger coworkers are following a similar path, several are not.  The probable outcomes of these courses are predictable.

Let's not say what Gen X and Gen Y/X Can not do.  It's a choice for most of them.

Perchance you mean skinflint, vs spendthrift, Tony.

David Rivers wrote: Perchance you mean skinflint, vs spendthrift, Tony.

Yeah, I got one of those words wrong, but not the other.  I wouldn't say Skinflint. I was still giving to charity... Skinflint is not the opposite of spendthrift IMO.
I would say I was just 'thrifty.'  But yeah, thanks for catching that error.

Tony B wrote:

I don't think that you are painting a very clear picture either.  It depends on income and spending habits.  Yeah, buy a new car, pay insurance and loans on that, and then you are going to have problems putting savings away.  Eating out all the time is expensive too, as is a $5k bike.  I'm GenX and came from a welfare-reliable family with a disabled mother.  Yet I've had investments since 23, probably mostly owing to being a careful spender and having 4 room mates in a house until I had solid financial footing.  I continued to add to those throughout my house-buying process, which I started at 27.  Several of my younger coworkers are following a similar path, several are not.  The probable outcomes of these courses are predictable.

Let's not say what Gen X and Gen Y/X Can not do.  It's a choice for most of them.

I love a man with Huge 403b

Karen Hammersmith wrote:

I love a man with Huge 403b

And a van you can drive off with?

Karen Hammersmith wrote:

I love a man with Huge 403b

Which means they were a teacher??? 

Buck Rio wrote: Better is a maxed out Roth IRA from someone in the top tax bracket for many years.

If you are in the top tax bracket you can't contribute directly to Roth IRA. If you are back-dooring it you can put away a lot more in a Roth 401k/403b. Of course, the choice isn't an either/or...

reboot wrote:

If you are in the top tax bracket you can't contribute directly to Roth IRA. If you are back-dooring it you can put away a lot more in a Roth 401k/403b. Of course, the choice isn't an either/or...

I change jobs a lot, everything rolls to my IRA eventually.

Buck Rio wrote:

Which means they were a teacher??? 

Tim Stich wrote:
No, 403bs are also for non-profit companies.

"In the United States, a 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organizations, and self-employed ministers in the United States.[1] It has tax treatment similar to a 401(k) plan, especially after the Economic Growth and Tax Relief Reconciliation Act of 2001.[2] "

cooperative hospital service organizations =  For nurses that steal vans.

Tony B wrote:

cooperative hospital service organizations =  For nurses that steal vans.