Just sold my (shared with older brother) last significant RE asset in the USA, a condo*** insanely well located near the ocean. With rich refugees from the Palisades fire disaster beating on the door of the condo management, we decided to drop our plans to do a renovation and sell now while the (ahem) chaparral is still hot.
I am putting the money into renovating an ancient stone home in Mallorca, Spain, and into purchasing still more land with solid water rights near a still hard to access (surfing) beach in Oaxaca, Mexico.
We have rapidly increasing uncertainty (on top of all the rest, a new Pope will be on the scene in two months, most likely young, vigorous, and Woke) and insanity (just look at the photos of the high and powerful, and then of the steadly increasing number of sick, starving, war tossed, hopeless and angry) in the world.
I do not need to grow my wealth further, but to protect it as a trustee. My oil and gas working interests income has increased obscenely (it is the exact sort of medium sour grade mostly from Canada now threatened to go into short supply, needed to blend with the light sweet making up most of USA production so as to match input specs for most USA refineries)
When husband and I are both dead it will almost all go to assisting
impoverished Mexican college students
emergency help for gaylesbiantrans kids worldwide
and those assets normally are not correlated with the securities markets (which make up most of the current endowment income to the relevant charities etc)
***Dad bought the condo super cheap during a RE collapse in Los Angeles in the mid 1970’s, later joined by Mom as they ended their separation in the 1990’s, Dad passed, and then Mom’s long time good friend “Geri” from church moved in and stuck with her as Mom weakened and died. Geri (aged 84, still hale, driving cars and golf balls, and readying to do “god ordained mandatory protest” organizing and marching) has now moved to live with and life coach a struggling young great niece of hers in Pennsylvania.