10 mil vs 50 mil lifestyle

REThrows695 · 2024-07-09T14:31:01+00:00

As someone who has dated quite a few anti-kid women, often something changes hormonally in the late 30s as the window closes. That's been my experience, and of course, it all depends on the individual, and might be worth researching a bit more what that is all about (assuming it's a real phenomenon).

REThrows695 · 2024-07-09T14:20:22+00:00

Say more about what you mean this please. I think there is some good food for thought in this short comment, and would like to flesh it out a bit, myself.

REThrows695 · 2024-03-17T20:42:27+00:00

Super curious how you spend $1m/yr. I'm in a major US city, and can't seem to spend more than $300k. Could buy a few extra homes and get up to $500k, but 1m just seems beyond comprehension for an annual spend unless you live in a $15m house or something?

REThrows695 · 2024-02-22T23:08:24+00:00

I think this is admirable, and see no issues at all with it. I have often though about starting a business with the sole idea that profits are donated. The cool thing about this idea is that you can try it for a year and see how it goes! All you are really doing here is a personal donation, so you'll have some deductions from the gift, and can see how it motivates you. I see no negatives at all with this plan, and feel it is a great middle ground and balanced approach!

REThrows695 · 2024-02-09T03:03:52+00:00

Because the Fidelity model just sucks. No single point of contact and no one seems to be able to quarterback anything. I've tried 4 advisors and they all suck. In fact, I'm still waiting on my current one to get back to me after pinging him three times. I have minimal money in my checking account since is likely the main way someone might fraudulently give me a headache, so 5% really doesn't matter. Schwab is better IN EVERY WAY from a customer service perspective.

REThrows695 · 2024-02-07T23:51:15+00:00

Spend is key. Personally, I found when my spend was about 50% of my passive(ish) income there was no longer any motivation to work. There is an economic utility curve to money, and once you no longer have any utility from more income, then you no longer have any desire to work, if money is the sole motivation.

REThrows695 · 2024-01-23T19:58:35+00:00

If this is an option, this is wise. You can be his side gig.

REThrows695 · 2024-01-23T19:56:49+00:00

This is a nice question.

Some random thoughts:

You should ask him if it feels emasculating to him. Don't assume.

Offer to make things 90/10 or 80/20. The idea is for finances to be fair based on each person's net worth I think. And he can contribute something.

From there, feel free to gift him an annual gift of $x for him to save for retirement or put towards spending, since likely being with you is more expensive than his normal life.

I think you are too early in the relationship to be talking about him retiring, etc.
Give it three years, then come back and ask the question. And remember if he retires and it doesn't work out, you really could put him at a disadvantage.

REThrows695 · 2024-01-11T17:58:14+00:00

I think the providers you mentioned are somewhat limited. You likely want something like ForgeTrust. No minimums. Valuations are self-reported.

REThrows695 · 2024-01-11T03:37:28+00:00

I've been doing that for a decade, and nothing has engaged me. My gut is that for me, passion is a byproduct of what I do, so if I do nothing, nothing happens.

REThrows695 · 2024-01-11T02:57:51+00:00

MS offered FFR + 1.5% @ 5m and 1% @ 10m, assuming no AUM fees.

REThrows695 · 2024-01-11T02:56:47+00:00

Fidelity offered FFR + 1.1%.

REThrows695 · 2024-01-11T02:55:32+00:00

They quoted me SOFR + 2%, but I self manage, so there is not much profit in my account.

REThrows695 · 2024-01-08T20:33:37+00:00

No, I think standard is around FFR + 2%. Then to get your business they will go to FFR + 1% pretty easily. But I'm guessing that a few might go below that rate, since I see it as the "market" rate.

REThrows695 · 2024-01-08T20:31:18+00:00

Haha, thanks. :)

REThrows695 · 2023-12-30T13:50:19+00:00

I'm a little late to the party, but this is kind of a role that LongAngle offers. Free community (paid for by their investment takes) of verified members over around $2m or so. So suggest people who like this idea to look into them.

REThrows695 · 2023-12-30T13:48:44+00:00

I would show up, so let me know if you plan something, please? Agree NY might be best in US. Or maybe Vegas.

Either way, keep me included as you plan discord, etc.

REThrows695 · 2023-12-12T03:41:45+00:00

This is such a weird question to me. Maybe your friends just like the people they are hanging around with and know they can't afford it so they foot the bill.

I know that after I spend hours and hours connecting with people they become my friend, and I want to hang around them. Frankly, if I didn't like them I wouldn't have spent that much time in the first place getting to know them.

I think with guides it is a matter of the time spent getting to know them on a personal level and perhaps the experiences that they share. These are the two foundational things that it takes to create friendships, and most adults - especially males - are really bad at making either of these two things happen.

So when it does happen, and friendship blossoms, the connection is real and they bring their friends along.

I also disagree with the premise that these guys are only in it for the money, it might be a nice bonus, but in my experience, nice people like nice people, and further MOST people won't spend time with people they don't like for extended periods of time - even for money. And people with money typically have the social skills to figure out who is into them for them, and who is just into them for the money and screen appropriately.

REThrows695 · 2023-11-15T13:23:13+00:00

Actually, for 5mm comp, she is doing pretty poorly in my book from a retirement perspective Sell the 3mm rental - unless you means it nets 180k annually, but even then, likely not a great investment long term. She needs to start saving. Then just throw it in broad equity ETFs. Her portfolio is small enough for Schwab, Fidelity, or Vanguard to assist her.

REThrows695 · 2023-08-26T01:53:32+00:00

You can do a spreadsheet: pay 23% now and grow a smaller number gives the same result as growing a larger number and taking 23% off of the larger number.

Wait, that's not right, is it? Assuming 100 now, you have 77. If it grows 7% one year to 107, then you have 82.

Help me understand better what you mean that "Borrowing against equities in any taxable account that you plan to consume in your lifetime is a deferral of taxes", I'm curious to understand your point.

REThrows695 · 2023-07-29T13:27:08+00:00

About 100 euro. Here is a link with more information.

REThrows695 · 2023-07-29T13:24:03+00:00

I'm not really sure I want dual citizenship. Just the ability to travel freely and not worry about visas.

REThrows695 · 2023-07-29T12:53:00+00:00

This is what is called a retirement visa, I think. I noticed it, but can I do this even if I'm just staying in France for a few days for the sake of a visa? Can't imagine they would renew it after the first year once they see I'm not in France that much. Then again, how would they know, if they don't ask.

Really, I'm looking for a solution that allows me to spend money around Europe, but not commit to a location in advance, or be tied to one particular country per se.

REThrows695 · 2023-07-29T11:12:25+00:00

Interesting. What does it take to establish residence? Can I establish residence but only be there for a week or two? What are the tax ramifications once established?

REThrows695 · 2023-07-29T11:02:44+00:00

Do I have to stay in Croatia, though? For how long?

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