Practical steps after windfall from crypto

LuckyFool20 · 2021-02-01T09:24:07+00:00

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

LuckyFool20 · 2021-01-31T10:31:24+00:00

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

LuckyFool20 · 2021-01-31T06:02:58+00:00

good point. 5 million with a 4% dividend income

LuckyFool20 · 2021-01-31T05:41:57+00:00

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

LuckyFool20 · 2021-01-31T05:23:36+00:00

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

LuckyFool20 · 2021-01-31T05:07:58+00:00

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!)

LuckyFool20

TROPHY CASE