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Solice Kirsk posted:I'd agree with that.
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Nov 11, 2019 19:34
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FactsAreUseless posted:A banker for money I'll do what you want me to do *shuffles money into a tax haven like Jersey and still gets a tax break.*
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Nov 11, 2019 19:41
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fauna posted:she's kind of like the old-timey mad queen of this place, but, if a queendom was allowed to banish its own queen for weeks at a time without her losing her claim to the throne Didn't that happen in Spain?
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Nov 11, 2019 19:50
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Glenn Quebec posted:I'll do what you want me to do *shuffles money into a tax haven like Jersey and still gets a tax break.* From what I understand Delaware is better. I'm not a tax guy though, so I stay out of that stuff and don't really understand the ins and outs. A small chunk of my clients personally claim negative income which I think is pretty funny.
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Nov 11, 2019 20:06
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Solice Kirsk posted:I'd agree with that. Enjoy the guillotine, friend
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Nov 11, 2019 20:07
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Solice Kirsk posted:From what I understand Delaware is better. I'm not a tax guy though, so I stay out of that stuff and don't really understand the ins and outs. A small chunk of my clients personally claim negative income which I think is pretty funny. All we gotta do is reduce their stature accordingly and all will be well in the world. 
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Nov 11, 2019 20:11
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Solice Kirsk posted:From what I understand Delaware is better. I'm not a tax guy though, so I stay out of that stuff and don't really understand the ins and outs. A small chunk of my clients personally claim negative income which I think is pretty funny. Nah, if offshore you want Jersey for Europe or the Caymans for Carib. Onshore would def. be Delaware.
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Nov 11, 2019 20:18
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Solice Kirsk posted:I'd agree with that. Lmao
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Nov 11, 2019 20:23
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It depends on what you're used to working with. A $15m networth is even on the low end for private bank invites. I don't think people understand just how much money is out there. In my industry people with $1m to ~$15m are just called "affluent." Meeting someone in your neighborhood with $5m would probably make them seem rich, and they're incredibly well off obviously, but in high finance that wouldn't even get them on a call list. It's hard to define "rich" in any case. There's people that think anyone that makes six figures is rich. I'm not saying one is right or wrong, but in the actual financial industry saying "$15m is the start of being rich" isn't that far fetched.
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Nov 11, 2019 20:39
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It's true. The minimum for private wealth management where I'm at is lol +--+-- a lot of money.
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Nov 11, 2019 20:48
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Solice Kirsk posted:It depends on what you're used to working with. A $15m networth is even on the low end for private bank invites. I don't think people understand just how much money is out there. In my industry people with $1m to ~$15m are just called "affluent." Quantity is generally expressed in terms of its relative distance from zero, not infinity.
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Nov 11, 2019 21:55
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my read on this is that in the financial industry rich means one thing, but in general practice it means another thing. this is a pretty normal thing to happen, with words. it's interesting and illuminating that $15M is a rough boundary for financial industry 'rich', but i don't think that has any relevance to the thresholds applied in general practice, which i would argue are all a lot lower than that. personally i've heard the claim that ~$4M is the threshold for being able to live comfortably off dividends - your pile of money is generating enough new money that you don't have to go find other sources if you don't want to. i'm sure i'm wrong on the number, so financial commentators, where would you think to draw that line? in my opinion it's the most meaningful threshold that gets at the question, but that's just my opinion. there's probably another threshold in the six figure range that's more meaningful to others, something like 'can afford an American medical emergency' edit: i'm mixing my arguments in the above; the $4M in the second-to-last paragraph would be wealth while the six figures in the last paragraph would be income. that's enough rigor for this post i think oystertoadfish has a new favorite as of 22:14 on Nov 11, 2019 |
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Nov 11, 2019 22:07
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financial wealth means nothing if you are not connected to the universal spirit
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Nov 11, 2019 22:11
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Depending on lifestyle, I'd say most people could retire pretty comfortably at right around $3m.
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Nov 11, 2019 22:14
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^^thanks!fauna posted:financial wealth means nothing if you are not connected to the universal spirit how much does it cost to buy peyote
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Nov 11, 2019 22:15
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oystertoadfish posted:personally i've heard the claim that ~$4M is the threshold for being able to live comfortably off dividends - your pile of money is generating enough new money that you don't have to go find other sources if you don't want to. i'm sure i'm wrong on the number, so financial commentators, where would you think to draw that line? Depends on a number of factors, but to strip things down to basics: 1. To look at a comparable scenario, colleges set up their payouts from endowments to be 4.5% to 5.5% annually. Call it 5% because it will make the math in step 3 work out beautifully. They expect to maintain the inflation-adjusted value of the endowment forever while taking this 5% annually. 2. Figure out what you want your annual income to be in current dollars (remember, this will be invested to provide an inflation hedge as well as the 5% payout). 3. Multiply the number in step 2 by 20 to see what your base needs to be to result in that amount as the 5% annual payout. So $4 million, invested reasonably, should generate a $200,000 annual inflation-adjusted income indefinitely. As Solice Kirsk noted, $3 million would work for many people ($150,000 using these heuristics).
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Nov 11, 2019 22:25
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Can't wait to retire and make several times my current annual income
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Nov 11, 2019 22:27
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Solice Kirsk posted:Depending on lifestyle, I'd say most people could retire pretty comfortably at right around $3m. Most people don't make that much in their entire lives.
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Nov 11, 2019 22:36
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Nope. But that's just a spitball figure not taking into account age, lifestyle, expenses, dependants, etc. If a 30 year old won the lottery and got $3m lump, they could potentially retire right then and there. Most people don't retire until well into their 60's so the number will go way down. It's hard to guesstimate because retirement stuff is different for everyone and not everyone gets to retire. My advice would be contribute to a retirement account every year automatically, take advantage if your company offers retirement matching, and make sure those funds are invested into something and not just sitting in cash. Most companies have a target date fund option (TDF) if you wanna just throw it into something and ignore it. Otherwise index funds are a great option. Putting 5% of your check into that will put you way ahead of most people in the retirement planning game.
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Nov 11, 2019 23:14
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Edgar Allen Ho posted:p sure all goons have severe depression. I think most people who get their primary socializing through message boards have a predilection for mental illness.
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Nov 12, 2019 02:03
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Unless you plan on living forever (e.g. if you're a large institution instead of a individual sack of decaying meat), you don't actually need to maintain the value of your retirement fund - you can draw out more then it's getting in interest and still be fine.
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Nov 12, 2019 02:13
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Solice Kirsk posted:Otherwise index funds are a great option. Index funds are the best option. Turns out investment advisers and stock pickers are mostly bullshit. Cats and chimps that don't even know what the stock market is and are trained to pick things at random do just as well as investment advisers. Since the overall trend of the world economy is "up" with some fluctuation the best investment plan is to just buy little pieces of literally everything. Yeah some of them will crash and burn and sometimes you'll see a downturn overall but in the long term it just wins. Assuming, of course, that America doesn't have some kind of financial collapse. Though that you can deal with by just going international. Every now and again a currency totally tanks but most economic systems just keep chugging along.
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Nov 12, 2019 03:55
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Honestly, time in the market is going to be your biggest friend. Indexes have been cleaning up pretty handily for a couple decades now on the retail side of things. I'd caution thinking of them as the be-all-end-all, but for just dumping money into something and leaving it alone for a long time you can do a lot worse. There are managed funds out there that absolutely smash their respected indexes year after year, but all the good ones I've seen are proprietary and with pretty high minimum investment requirements, so it's not something you can just go and buy through a self directed account or even call a broker and have them make a trade. But if you're just trying to, say, keep up with the S&P 500 you'll be hard pressed to find anything even in the proprietary stuff that will outperform VOO or SPY.
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Nov 12, 2019 04:27
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If You Can: How Millenials Can Retire as Millionaires covers the basics of funds, fund diversification, and periodic reallocation and is fairly short. Although anyone coming into investing with little to no knowledge can just go ahead and skip the part about annuities.
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Nov 12, 2019 04:32
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I love how a statement showing how out of touch a poster was turned into "No but really, and other excuses for the guillotine".
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Nov 12, 2019 04:38
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It doesn't matter how diverse your portfolio is once the cannibal biker gangs come to steal your water, or "the holy life liquid" as it will come to be known.
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Nov 12, 2019 05:19
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I call dibs on being the guy that pulls the guillotine lever.
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Nov 12, 2019 07:32
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oystertoadfish posted:how much does it cost to buy peyote
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Nov 12, 2019 09:01
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neither does salvia, through some weird trick of biochemistry, the same sort of thing that makes people allergic to avocadoes usually also allergic to bananas
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Nov 12, 2019 09:02
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Who What Now posted:It doesn't matter how diverse your portfolio is once the cannibal biker gangs come to steal your water, or "the holy life liquid" as it will come to be known. Saving up my caps now, investing in stimpaks, ammo, and power armour.
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Nov 12, 2019 09:17
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fauna posted:it costs me nothing, my friend grows it on his peacock farm in the red desert, but unfortunately it has no effect on me sorry to hear about your third eye problems also an apocalypse that 99% of people don't immediately die in probably goes like in that british movie Threads about the aftermath of a nuclear war, where the government went underground and came back out with steam-driven tanks and poo poo to keep running things. there have been and probably still are bunkers full of gold and food ready to be staffed with VIPs until the fallout settles down, or whatever the plan is exactly. even canada had one, apparently known as the Diefenbunker. so i doubt even an apocalypse would change the way money works and the general outlines of who has it although this is the luxury the prime minister would've been looking forward to. somebody should make a movie set in the VIP's bunker 
oystertoadfish has a new favorite as of 13:20 on Nov 12, 2019 |
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Nov 12, 2019 13:11
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oystertoadfish posted:sorry to hear about your third eye problems Oats Studios' Zygote shot in one of the Diefenbunkers. They're neat. John Diefenbaker, the Canadian prime minister it was built for, famously refused to ever set foot in the place in the event of nuclear attack because it was for government officials only. He wasn't going if his wife couldn't join him.
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Nov 12, 2019 17:31
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Smh Imo If you do not live in the heart of a major city 100, 000 $plus a year income is rich
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Nov 12, 2019 17:35
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Spins posted:Smh Is this a poem?
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Nov 12, 2019 21:50
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Tater Love 
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oystertoadfish posted:sorry to hear about your third eye problems I’m planning on doing the tour of the bunker in the Greenbriar Hotel in WV that was built for the US congress over the winter, stuff like that fascinates me. That article you shared was exactly my kind of thing.
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Nov 12, 2019 21:59
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zakharov posted:Is this a poem? I text in haikus
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Nov 12, 2019 23:25
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This came up in the Internet Personality thread at RGD, start here and read forward a few pages to see some epic dunking on oneself.Spark That Bled posted:Okay, what the gently caress? This is how Spark characterized that meltdown, fyi: A big flaming stink posted:wait is spark the one that lost their goddamned mind in the anthem thread? Spark That Bled posted:...you mean the one where people made jokes about me being a terrorist after I said I was half-Arab?
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Nov 13, 2019 06:14
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Absurd Alhazred posted:This came up in the Internet Personality thread at RGD, start here and read forward a few pages to see some epic dunking on oneself.  That is some quality self ownage 
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Nov 13, 2019 07:02
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Absurd Alhazred posted:This came up in the Internet Personality thread at RGD, start here and read forward a few pages to see some epic dunking on oneself. I didn’t bother clicking through when someone posted it in RGE because I assumed it would just be another dumb argument. Holy poo poo. This might be the dumbest person on the forums. And that’s coming from me.
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Nov 13, 2019 07:51
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oh my god
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Nov 13, 2019 08:34
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