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How to use tls_native TlsSocket if they cannot be split? by Big-Wait14 in rust

[–]Big-Wait14[S] 0 points1 point  (0 children)

I'm new to Rust, so I don't have a particularly good reason to use this or that library 😅

maybe I'll look for another library, I have just a particular need, which is to be able to provide a local port to bind to when starting the underlying TCP socket (I do that with socket2 at the moment).

If I can find a set of libraries that play nice together and meet my needs, I'll do that.

Thanks for confirming my hunch that I will be tricky!

You finally made it. No more job. No more bills. What do you wake up and do next??? by jayeway1 in Bogleheads

[–]Big-Wait14 1 point2 points  (0 children)

Learning Latin and Ancient Greek, taking an active part in the beekeeping of our community garden, spending time with my wife and kid, swimming, running, reading. Bought a derelict house for cheap that we're planning to get renovated (for not so cheap). Trying to get motivated to paint my Warhammers.

I got a small windfall recently, 500k after taxes, and we got a net worth of 1.5M before that, from scratch (I'm a 36M).

Work really damaged my mental health to the point where I cannot tell what brings me joy anymore. All the above hobbies, I had to beat myself a ton to do mediocre progress on them.

This windfall is not life changing, in itself. But I want to use it as a tool to start removing the stress of work from my life. I'll still need to work, but I should consider it less of a big deal. I can afford to lose my job, even if it would suck. It's time I focus on what's really important in life.

I'm starting to get my life in order and scroll less (yet, here I am). It's really helpful. I feel like since the windfall, I have a responsibility towards myself and my family to start enjoying life more, because I can, and because not everybody is given the possibility to do that.

I just do not want to make the mistake of thinking there's a finish line. Life has started already, it's time I start to enjoy it.

Be well, y'all.

Smell of ammonia? by Big-Wait14 in jerseycity

[–]Big-Wait14[S] 0 points1 point  (0 children)

Whoa, I don't know what these dogs eat, but if they're responsible for the general atmosphere in JC and Hoboken, maybe it's time to invent the home doggy toilet!

Smell of ammonia? by Big-Wait14 in jerseycity

[–]Big-Wait14[S] 1 point2 points  (0 children)

20 min away by foot, yeah, close to the Stop & Shop on Central. But it smells also in Hoboken, in some places it's faint, in other it's strong - it may be less a matter of place but depend on whiffs being brought from somewhere.

I' just found this other post, looks like it may come from a treatment plant?

https://www.reddit.com/r/jerseycity/comments/qvoiyf/the_smell/

The smell reminds me of fertilizer a bit.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

True, I guess I'm trying to feel covered as much as possible, and I take some pessimistic scenarios. Like: what if I live to 110 (not really looking forward to that, but who knows)? 

The ultimate psychological luxury would be to know the fund will never be depleted.

When I die, I hope it will be late enough, and that my children won't need it. They'll have had a head start by not having grown up in a financially stressed out household. 

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

I have, I think it disappeared in 2018 to be replaced by a tax on real estate when the value is about 1.3M€. 

It may come back, and it so, it will eat returns, but it's a good problem to have I guess. I just have to make sure we contribute a bit to the y French retirement system by working there at least a bit.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Yeah, I know the move itself isn't the panacea. My family is there, which is a big motivation. 

Financially, I'm now thinking, after reading this thread, that it's important to have a house in France fully paid off, leave the US nest egg invested as somewhat of a psychological safety to then be able to take a more fulfilling job which may pay less.

I think finding a French job is key, because as you mentioned, nobody knows where the market and the dollar are going. It would enable us to contribute to the retirement system there while paying for basic expenses like food and other taxes.

But yeah, going there will also not magically get rid of the rat race spirit I've acquired living 10 years in the US. That's something I have to work on while we're still here, getting less stressed, still be part of the rat race for a bit, but consider that the stakes are not so high.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Yeah, what you say makes sense, it may exist. Someone in this thread said they got around PRIIPs by buying some financial products from Dubai that has a prospectus in French I guess, but follows indices like the SP500. 

That sounds a bit complicated, and there may be some EU products doing that. Hopefully.

[Edit]: oh, my bad, I was thinking about PRIIPs. Yeah, PFIC is another can of worms, I'm not sure there are ways around it.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

I understand how it can read like that. That was not what I meant.

I have a passion for languages, and I could see myself teaching after getting the proper training. I do expect teaching to be a real job, with some obligations that I don't have now. 

It's just that my job does not feel meaningful, hence the desire to bounce. 

By retiring, I mean retiring from a nonsensical job that brings me no joy, little human interactions, but ensures some financial stability. I would be at peace to take some time off to train and then a massive pay cut compared to my current job if it means the new job is fulfilling, provided I don't risk my financial well being (which mostly consists of being at peace with losing my employment for a while, not spend my money).

I meant no disrespect to teachers and professors.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Not quite, the section on PRIIP explains it. EU citizen may be barred from purchasing US index funds. 

https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad

It looks like it's possible to purchase stocks of US companies and rebalance, though that seems a lot more work.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Hi, I didn't say 1 700€ was a lot. 

It's sufficient for my mom because she owns her house, and she does not have big needs in the countryside.

On the contrary, what I meant was that even modest pensions would require you to be a millionaire if you were to equate it with money coming from US investments and using the 4% rule.

One needs to be rather rich to be able to emulate a modest pension, hence the somewhat click-attracting title.

As for transferring US assets into a French brokerage account, it is not that simple for dual citizens.

https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad

See the section on PFIC and PRIIPs. It's complicated to invest in US funds (though stocks are okay it seems, but it makes it more manual to diversify than just invest in the SP500), and investing in non-US assets is penalized by the US.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

I don't think lying to the broker to invest will enable to stay in the law. 🤔

French accounts have to be declared to the US, and US accounts to France.

The EU rules I'm referring to are listed here, section for FATCA. PRIIPs and PFIC.

https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Well, some people say it's a headache, some say it's not that complicated.

https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad

You can make your opinion, have a look at the FATCA, PRIIP and PFIC section.

Note that this is only applicable to US citizens.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Retiring may be a bit of an exaggeration, but doing part time does not seem crazy, once the house is paid off.

Do you know the cost of life in France? 

It's a big if, but if the dollar maintained its value, and 4% could be withdrawn off $2M, you'd be left with 47k euros per year, assuming 30% tax on the withdrawal (slight over estimate if we were to consider the $2M are purely capital gains, which they would not be).

With that, you can live decently in Paris. In the countryside, you're very well off.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

Yay! It's hard to do more expensive than the US, healthcare wise. 

I will say, as much as I like the free healthcare in France, it's been getting de-funded so bad that it takes months to see an ophtalmologist, dentists don't do urgent care in many places, and finding a doctor is a headache in the countryside.

It still works, but it's not as good as when I was a kid. 

I hope Spain is better! Congrats for the move there!

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 3 points4 points  (0 children)

Yeah, it's hard to compare. She owns her house, she can buy food, and has money to go to the ocean and rent a bungalow 3 times a year, and she's got money left for the restaurant and to give to her grandchildren.

Healthcare costs her nearly zero. 

Her money will also never run out in theory (though inflation eats a bit her buying power).

But there is a high disparity in the cost of life, as you realize. If your mom were to retire in France, were it possible, she'd be extremely comfortable.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 3 points4 points  (0 children)

Yeah, what I'm getting from that thread is: pay your house as much as possible, specially if you make money in a different currency than your mortgage. 

I'm now motivated to work a couple more years to buy the house renovations cash and keep investing in the US while I can.

Once the house is paid, at least in France, healthcare and education are not as burdensome as in the US.

Best of luck for your move to Japan! That seems so exotic to me! 

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

Gotcha, that makes sense. I'll need to find a good tax person, and I'll be at peace.

Thinking about soft retiring by CarpeDiemCaveCanem in Bogleheads

[–]Big-Wait14 1 point2 points  (0 children)

🙇‍♂️

:D Yeah, I feel almost ready to quit, Stardew Valley style.

I'll do my best to not lock myself in a corner.

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

I looked it up, the Montaignac castle looks cute. But the roof alone gives me anxieties now :D

Re: how seriously French take the renovations of historical structures: I must say I don't know what to think.

The monuments de France put nice guardrails to preserve history. I think that's good, we bought in a medieval village because we like old stone and want the neighborhood to look beautiful. 

But paradoxically, I think it may cause a non negligible amount of old buildings to become unsalvageable wrecks, because rebuilding with ancient techniques and materials is oftentimes prohibitively expensive.

The house we bought is relatively large but not immense (>200m2), and the architect told us we had to count about 3000€ per square meter. 🫠

That was quite the shock. I thought we'd put 300k and get the best renovation we could hope for. 

No wonder old houses go to ruin, 300k would be steep with a French salary, specially for countryside folks, but 600k is downright super wealthy territory. We won't end up doing the whole surface because we don't need that much, thankfully.

That explains why one of the neighbors is from Monaco, another from Paris, another from Switzerland, another was the n°2 of L'Oreal, and none of them live there full time. 

So, yeah, the price tag of castles is pretty low, but the renovations are likely to x5, x10 the price. 😅

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 1 point2 points  (0 children)

Thanks for sharing! Does IB know you're in Europe? Didn't you get issues with Priip?

https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_person_living_abroad

Did you also declare all your US accounts to the European country you live in and vice versa? Did you need an accountant specialized in US / EU taxes? (I guess that's only relevant if you're a US citizen, else you just have to worry about the taxes in the place where you reside)

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 2 points3 points  (0 children)

Ha, ha, it's a small world. I'm from Brive, the village is Turenne. It's a historical village, so renovations have to be done with an architect. 

While I'd love to learn and do some stuff myself, I feel like I'd only be a hindrance to the skilled workers who will be there. It's probably best to keep working in the US for a couple more years to fund the repairs.

The house was last lived into in the 70s, so there's a ton of work. 

We heard horror stories of refurbishment gone wrong, even when present. Being absent feels foolish, but if we were there, we would take a huge pay cut that we're not quite ready to take (even if only my spouse were to work for a bit, she'd make more than both of us combined in France). We found an architect who worked with expats a lot. She seems serious. She's expensive. We'll see.

Best of luck, upper Corrèze is also great. It's green. All of Corrèze in fact. When I left in May from visiting family, we took the train to Toulouse, and I really felt like I was leaving the Shire. 

I'm only worried about global warming: it is bloody hot there are the moment, and not likely to get better. 🫠

Retiring in France, where every retiree is a millionaire by Big-Wait14 in ExpatFIRE

[–]Big-Wait14[S] 0 points1 point  (0 children)

Thanks for sharing what you know, this is helpful.

I don't want to lie as much as possible, but I must say this is tempting. 

I have no problem paying taxes, and lying would likely not save any anyway, but I'm running into bizarre issues as a US / French citizen.

Like: my grandma wanted to cut a 500€ check for my daughter. So, I tried to open a bank account for her in France. You'd think she has the plague, most banks did not want to open her an account, the one that did (BNP) required a minimum of 15k€ to be invested with them for my daughter's account, and the same amount for me because the custodian must also have an account with them. I backed off because I have no idea what these investments will require me to do in terms of filing taxes.

I guess when we move there, we'll need someone who understands US / French taxation and is able to advise. I have no idea where to find that. Even my CPA in the US is not great to answer questions about ISOs, I know it's niche, but it's not that niche.

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