I don’t have any advice for getting the spouse interested in stocks. I haven’t been successful.
But what I realized, is that is OK. Sometimes its good to have some different interests.
It would be great to have someone in the house to talk stocks and companies with, but that is what the board is for.
My wife isn’t into too much. However, when I sold my shares in Netflix and completely renovated my old basement with the profits, she better realized how it has paid off for us.
She still isn’t into it where she will talk endlessly to me about companies. However, she will listen better now when I occasionally mention some company.
It’s the same with my rental homes. After the first one and each next one, she always says, no more. But, she always comes back around when I’m looking again and signs the paperwork each time.
I’m now thinking of getting a 4 bedroom/1 bath home in Alabama for $50,000 with a renter in it. I’d have to use a property manager, but I’d still turn a profit. Plus, by being far away, I wouldn’t be in it like I was in one of my local ones tonight cleaning it up for a new tenant tomorrow.
I’ll go OT a bit on real estate. If you buy a home to use as a rental, you can make money 4 ways.
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Your tenants gives you monthly rent which after paying your mortgage, taxes, insurance and setting a percentage aside for vacancies, repairs and capital expenditures, you should still have positive cash flow to save, spend or do whatever with.
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Your tenant is paying off the loan for you.
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Your home, if you bought wisely and care for it, should appreciate over time.
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Their are tax benefits to having rental property, better than with stocks or regular W2 income. So, you save tax money by having rental real estate.
Also, you use the banks money for the most part. With stocks, very few use margin. With real estate, almost everyone gets a mortgage. So, even if you had no other benefits, if your tenant paid off your mortgage for you, you still own a house at the end of the mortgage.
When you factor in positive cash flow for each month, the home appreciating over time, the tax savings and so on, you may find it’s worthwhile to pick up a rental home or two.
OT is over.
Fool on,
mazske
Long on having his wife supporting his investing