3M NW at age 34.
I am 34 year old, married, single income. Current NW: ~3M (pre-tax) Breakdown: Stocks: 1.6M (of which 401k 394k) Home (primary + secondary): 1.6M Rentals: 975K Land: 440K Liabilities: 1.5M pls review and provide advice. ~90% of my stocks are microsoft (appreciated). I want to diversify but that will incur a huge tax because of the profit. any tips to improve my diversification and increase overall NW in general? FIRE number: 6M (3.5 withdrawal)
Talk to a financial advisor or a CPA about an exchange fund. There are requirements and caveats but it's possible to use them to avoid the cap gains. You need a professional to set it up I believe.
You will pay the tax man one day. Better pay and diversify than lose it all in next crash.
Incorrect. I will literally die and my tax bill will be eliminated.
Bad advice. Don’t pay capital gains unnecessarily. Put new money into indexes that are underweight on tech to counterbalance the MSFT position. S&P value or dividend indexes are a good place to start.
Diversify by leaving your wife. Insta-FIRE
Diversification > paying taxes
What's the land? Farm?
2 Farm (small), rest empty lots.
3M but can't pay a professional for an advice 🤣🤣. Guessing they are 3M in some cheap currencu
🥱 3M rupees.
You are no better than IG models looking for attention.
Seriously OP f*** off! You’re pretty much set.