Gunfighter

The group is Lifestyles Unlimited out of Houston, TX, with offices in several other locations. They offer education, mentoring and networking. In all honesty, I wasn't interested in the education as much as the networking. I was looking for a group of rich real estate friends. Having a conversation where the terms "cap rate", "NOI", "non-recourse" and "DSCR" were universally understood was appealing. This is NOT a group for "zero down" real estate wannabes, it is for investors who already have some net-worth and are looking to reposition into real estate. Knowledge isn't a prerequisite as they offer a comprehensive education program. The online education alone is worth the price of admission for the entry level. They will tell you nothing they teach is a secret and that all of the knowledge and information is freely available, they just consolidated it in one place for your convenience.

They offer three tiers of membership and only the highest tier can participate in multi-family syndications. If you are working with less than six figures, the first and maybe second tier works. Without explicitly saying it, the third tier is for people with at least six figures and often times seven of investable net worth. It is an excellent fit for high income individuals who want to invest outside of a 401k, but don't want to manage rentals. They also have a list of preferred vendors from CPAs to estate planning experts to hard money lenders to building trades that you can pick from to build your personal team of experts.

Real Estate Education & Mentoring Group Houston, TX | Lifestyles Unlimited

gloopy

The "tulip bubble" has nothing whatsoever to do with BTC. Tulip bulbs can become unlimited in supply in a short period of time as well as having storage costs and value erasure due to being too old. BTC not only has none of those problems, it excels at being the opposite to all of those things.

Fiat debasement is but one of many issues. BTC can and is used "to buy coffee" but that's a microscopic portion of its use case.

JamesBond

Self directed ROTH IRA... max it out every year and buy all the rental property you can and plow the rents back into it. I guarantee you that is what I would do if I were in your shoes. Unless the DC swamp douchebags kill the tax advantages of a ROTH, it may very well be the only thing you can do when you get to that 29th year that saves you on taxes. And all the earnings/rents/income are tax free.

Look into it.

You'll thank me in 29 years.

LeineLodge

It’s interesting to look back and see that some of the advice in this thread actually does work. We’re also a long way into this bull market which makes everyone look smarter than we really are, so take it all with a grain of salt. I’m about halfway down your road and will echo what some of the others have said:

Max out your savings. This is by far the most important factor, especially early, that you have much control over. Get in the habit of maxing your personal contribution at the beginning of your career, and it just gets easier from there. Do the math now on what % it will take to max and then set and forget. After a couple paychecks you won’t even notice it. I credit our current situation to maxing from the beginning, even when we had no clue what we were investing it in.

Keep expenses low. If you have zero idea what you’re doing a great place to start is one of the target date funds. With 29 years left, you could put it all in the 2050 fund and have a very reasonable, low cost portfolio. Just be aware that any other $ you have outside the 401k will tilt you one way or another. The target fund is meant to be a one stop shop.

Speaking of expenses, beware of advisors and anyone that is trying to charge you a % of assets under management (AUM). 1% sounds like no big deal but as another poster suggested, you need to run the math. A couple minutes with a compound interest calculator should sufficiently motivate you to figure out how to manage your $ on your own. You’re plenty smart enough (likely much more so than your “advisor”) you just need to learn some new lingo. This includes Financial Engines. Their % is much lower than a traditional advisor, but IMO completely unnecessary. A target date fund is all the roboadvisor you need if that’s your chosen route.

Only add complexity if you have a really good reason. A lot of the stuff you’re reading on this thread (real estate, options, other fancy vehicles) may have their place but are not required to do just fine over the course of 29 years. You’ll know if/when the time is right to add complexity.

Don’t let the intimidation factor of it all prevent you from using your most important lever. That is to set a reasonable savings rate and investment plan (could be as simple as the 2050 fund) from the beginning, and stick with it through the ups and downs.

I’ll say it one more time: savings rate matters. You can’t invest until you save.

Trip7

Lots of different investing styles/strategies will be mentioned here. Many of them excellent ways to build wealth. Multiple ways to skin a cat. Explore them all and find a strategy that suits your personality, passions, and available time. Some people have zero desire or available time to invest and out source it all. Some have ample time and passion therefore research and buy individual stocks and/or real estate properties.

Sent from my SM-N986U using Tapatalk

StickPig

I really appreciate the responses everyone. Looks like I have some things to learn, but I now have a starting point.

Appreciate it!

DeltaboundRedux

Considering some of the young pilots who are going to get quick upgrades, you can do a whole lot worse than committing to living on a copilot's income with a captain's salary, forever.

At $120-$150k/yr, you're doing much, much better than most Americans. Let's be honest here: the 9/11 airline industry tanking, "once in a lifetime industry crash cycle" seems to be coming in quicker and quicker waves.

Easy to commit to when you're a single copilot. Much trickier when you get married and/or upgrade.

It's not what you earn. It's what you burn.

gloopy

The Roths may or may not be in the first wave of money grabbing "reforms" but they will come for them. 401k attacks at our levels have already been advocated for by the current regime and are probably a single vote away from being implimented. Additionally, when these insane policies of endless money printing, unpayable debt and feel good social spending snaps back in their faces, the added assault we've seen on small businesses and landlords will be massive.

They've been attacking the best ways (rentals and small business) the pesantry (including the semi-serfs of the modern landed gentry) have been using to claw their ways up the ladder. Those attacks will only increase. More and more creative serfs have figured out the concept of, and started to impliment, the incredibly effective BBD (buy borrow die) stratedgy, which has not gone unnoticed. The next wave of assault on the uppidy middle class will be crushing inheritance tax schemes (a cornerstone "plank" of the Communist Manifesto) and the modern day Bolshevik revolution tactic of taxing "unrealized gains".

Many of these attacks might appear to start on "the rich" first. The originaly unconstitutional income tax got its ammendment rammed through based on the lie that only "the rich" would pay and it wouldn't even be that much for them. The original top rate was 7% and that only kicked in for incomes above around $10 Million a year in today's dollars. Now look where we are.

ERflyer

Have a nice Sunday. Geez.

SonicFlyer

He (Gloopy) is 100% correct.... sadly