Dutch Asset Corporation
At Dutch Asset Corporation, Cullen and his team help families and individuals reach their financial goals by merging technology and personalized advice to provide a world class experience that could only exist in the 21st century.
BA, Economics, State University of New York at Albany
Assets Under Management:
Please note that the information above is not a recommendation and is for informational purposes only.
Advisor Insights, Cullen Breen, CFP® - Dutch Asset Corporation
The formula you need is found here, If the amount of payment is constant you are correct to assume that monthly or quarterly would result in a higher IRR. We calculated a monthly IRR of 17.5% and annual of 12.15% based on monthly or annual payments. It is also important to consider taxes and employ a model to evaluate the different payment periods. If you would like further assistance please reach out and we can walk you through it.
Hi, Congrats on the home purchase. If you plan to use the EUR I would look to move them stateside as soon as possible, I am not an expert on AML but your bank should be able to assist in this regard. As far as a 401k loan(up to 50% or 50k, whichever is less) this can be great for short term capital as long as it can be paid back in a short period of time, usually there are origination fees so note that this will be a sunk cost. Another option you may want to consider is looking at a portfolio lender because there is much more flexibility in terms of down payment and mortgage insurance. Currently Sofi has a portfolio product with 10% down as do many other smaller lenders; I would take a look at these options.
Many times lost assets find their way to the Office of Lost or Unclaimed funds in your state. I would start by inquiring here and if you have no luck track the succession of the firms(Wikipedia) to find out the ultimate destination.
Use a portfolio lender AKA a Bank that actually lends it's own money. Many have programs that require only a 5-10% downpayment(in addition to closing costs.) I purchased a house in november 2017 and received a 3.875% rate with no points and 10% down. My bank was Trustco which primarily lends in New York and Florida, but in the course of my research I found out that SOFI has a similar product.
Great question, the answer is two fold. Firstly 1500/mo =18000 annually which would imply an interest rate of 9%, which I will flat out tell you is impossible without exposing yourself to substantial risk. The good news is you may not actually need a 9% return, you just need 1500 a month for the rest of your life. We can assume about a 3% interest rate using high quality short term investments, under a 3% assumption you would be able to draw 1500 per month for 13.5yrs. 5% would last you 16.5 yrs and 7% would last you 22yrs. Hopefully that helps in your analysis as most retirees will spend down principal to meet their needs. Take a look at this annuity calculator if you would like to play with the variables, and this is not an indorsement of annuities just the components of principal and interest that make up a stream of income. https://www.bankrate.com/calculators/investing/annuity-calculator.aspx