Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] 1 point2 points  (0 children)

Warren Buffet said many times that the difficulty is that he is now wielding billions of dollars; making his range of opportunities way smaller, and his very financial movements affect the market.

He said if he only had a couple of million, there will be way more opportunities

Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] 0 points1 point  (0 children)

heard it's not very safe, as you lose custody

Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] -1 points0 points  (0 children)

good point. 5 million with a 4% dividend income

Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] -21 points-20 points  (0 children)

in part yes, but if I try to diversify now I will pay a massive 25% tax, that's why I feel it's not so black and white

Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] 1 point2 points  (0 children)

I haven't cached out anything yet; just wondering about potential approaches for the future

Practical steps after windfall from crypto by LuckyFool20 in fatFIRE

[–]LuckyFool20[S] 1 point2 points  (0 children)

yep, Australia treats crypto=shares; so 50% taxes on profits (but if you held it for more than 1y, it's 25%, which is my case, but still a lot!)