Home > Florida house sold, portfolio update, odds and ends

Florida house sold, portfolio update, odds and ends

August 19th, 2021 at 01:13 am

The Florida house did close on 8/10 as scheduled. All went pretty smoothly. I had to run around a bit to get the paperwork notarized and sent back but that was minor.

Final result was me walking away with $477,203.26. It went into the estate account for now. I'll get it once the probate period ends in early October. There's now over $547,000 in that account.

That means that our overall portfolio now stands at over $3.1 million. That's well above where I thought we'd be with the inheritance. I had estimated we'd be around $2.7 or 2.8 million but the inheritance ended up being more than I thought plus the ongoing stock market returns have pushed up the value of what we already had as well as the value of the money I inherited that was invested in equities.

That estate account, however, has pushed our cash allocation to about 23% right now and our stocks down to 51% with the remaining 27% in bonds.

I'm working on fixing that. I can't do anything about the 540K in the estate account yet but I'm reallocating the money that is in our control, namely the inherited traditional IRA. I started moving 10K/week from bonds to stocks but realized that would take forever, so today I moved 50K and will do that every week for the next couple of months. That will get us to about 57% stock. Then the estate account will get distributed to me and I'll be able to invest that to get the asset allocation where I ultimately want it.

No word yet on when my part time status will begin. We're actually short staffed at work right now so it's very possible they will hold me to my contract, meaning I'll remain full time until December 1. I'm hoping they can find a way to get me part time before that but I'm not complaining as I completely understand I'm bound by the contract.

We go to Florida 3 weeks from today for a big fundraising event and convention. We're not thrilled about traveling in the midst of the COVID surge but we've decided we're just going to do it and take precautions as much as possible.

4 Responses to “Florida house sold, portfolio update, odds and ends”

  1. rob62521 Says:

    Glad the house sale went smoothly. That's quite a bit in your estate account.

    Hope you have a safe trip.

  2. mumof2 Says:

    Glad the house sale has been finalised and that is a nice chunk of change to add to your retirement...the way things look at the momet I can't see anyone in the medical field working pt but fingers crossed....stay safe in your travels..

  3. terri77 Says:

    Congrats on getting the house sold so quickly. I know you would rather have your cousin, but he has left you a wonderful gift in his estate. What allocation of stocks are you shooting for?

  4. disneysteve Says:

    Thanks for the comments.

    GoodLiving - I will be going part time. It's just a matter of when. By contract, I have to work full time until December 1, but they can make it sooner if they're able. We're really short-staffed right now so I don't see that happening.

    mumof2 - The decision to go PT was totally up to me. They can't say no. I mean they could say they won't offer me a PT position but it would be incredibly stupid for them to do that. As I said, they're already short-staffed. If I walk away, that gets even worse. Me going PT will already leave them a 12-hr gap to fill. I know they don't want to have to fill 36 hours.

    terri77 - I'm planning to keep stocks in the 60-65% range once everything is settled.

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