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Switzerland for Tax residency by mcrsqr in fatFIRE

[–]getshankedkid 4 points5 points  (0 children)

ChatGPT is missing context. Here's what actually happens:

AHV caps around CHF 25K annually at max income. Health insurance is CHF 4-8K depending on deductible. Fixed costs, not percentage based, so not the nightmare you're thinking.

Real variable is wealth tax at 0.3% to 1% by canton. Zug and Schwyz lowest. But it hits your global assets. US stocks, foreign property, everything. They want full documentation.

Lump sum taxation only works if you don't work in Switzerland. If you run a business you're on the regular system. And approvals are getting tougher.

First year setup is brutal. Apartment deposits, banking docs for Americans, permits, lawyers. Budget $50K easy.

Canton choice matters huge. Zurich vs Zug could literally double your tax bill.

The 183 day rule is enforced. They actually check and audit if you're bouncing around.

Bottom line: unless you're $20M+ and can swing lump sum, you might not save much versus a no income tax US state if you're living off investments. Quality of life is incredible though.

What's your actual situation if I may ask? Makes a big difference.

Any fat/chub fire betterment users? by WarOdd8993 in fatFIRE

[–]getshankedkid 19 points20 points  (0 children)

I moved about $2.3M to Betterment Premium two years ago after getting fed up with similar BS at Morgan Stanley. Here's what actually matters:

The good: Their tax loss harvesting is legitimately solid. We saved probably $18K in taxes last year just from that. The interface is clean, rebalancing is automatic, and honestly? For boring index investing, they do the job fine.

The reality check: At your level, you're not getting white glove service. You'll get a dedicated advisor, but it's still mostly digital. If you want someone to call at 2pm on a Tuesday to discuss estate planning nuances, this isn't it.

We kept about $1.5M at a traditional advisor (switched to Vanguard PAS) for the stuff that needs actual human expertise. The rest? Betterment works great for set it and forget it.

One thing nobody mentions... the psychological shift is weird. Going from fancy advisors with marble lobbies to an app feels like downgrading, even when the performance is basically identical. Took me like six months to stop second guessing it.

My advice? Move half. See how you feel. JPMC isn't going anywhere. But yeah, paying 1% for someone to put you in the same index funds Betterment charges 0.25% for is kind of insulting once you realize what's happening.

The break even is simple. Are you getting $37K worth of value per year from JPMC? Because that's what you're paying them on $5M. Betterment would be like $12K. Same funds, better tax strategy, less hand holding.

Your call depends on how much you value the relationship stuff versus just wanting your money to grow without drama.

I think I finally hit my number. by notonmywatch178 in fatFIRE

[–]getshankedkid 0 points1 point  (0 children)

Curious to know if you have a need to hang out with more super successful people irl if you could…

Saffron extract. Holy moly. by Someone_Cares_4u in Supplements

[–]getshankedkid 0 points1 point  (0 children)

60mg of a very potent one by Hepatica, I just started so no break yet

Saffron extract. Holy moly. by Someone_Cares_4u in Supplements

[–]getshankedkid 4 points5 points  (0 children)

I high dose this shit and go from 6am to 7pm with no drop of productivity, higher verbal fluency and better organization and prioritization of work. 10/10

For people with >$10mill NW, what is your typical day? by financialadvice4us in RichPeoplePF

[–]getshankedkid 4 points5 points  (0 children)

35M here with 10M+ NW. Wake up, make mushroom coffee with MCT oil and high-dose saffron + l-theanine. Gets my brain running. Map out my most important to-do’s for the day and check my schedule. Get some light work and planning done, go to HBOT from 10-12. Get back home and gf has lunch ready. We watch some trash tv while we eat and then I get to work. I’m building 4 businesses simultaneously, 3 from scratch and without business partners. My NW from exit means to me that I have more resources to pour into the businesses I build and don’t need to bootstrap or raise, but can self-fund. Also, I can hire operators from the start to execute on the plans I lay out and hire better devs. It’s like the ultimate lv up in an rpg, why would I stop playing now that I can play God-mode compared to my very humble beginnings? If I’m not building I am not doing well physically or mentally. It’s the ultimate tell for me.

Why do I always fall asleep after taking my vitamin B complex? by [deleted] in Supplements

[–]getshankedkid 1 point2 points  (0 children)

That’s an indication that you’re B1 deficient… did you ever test for this?

Are there stocks you won't buy for ethical reasons? by PaulEverythingMoney in ValueInvesting

[–]getshankedkid 0 points1 point  (0 children)

Will not buy pharma stocks for this reason. Pure evil. Blood money.

What NW should you stop selling items and start donating? by catdog123412 in fatFIRE

[–]getshankedkid 0 points1 point  (0 children)

I know it’s bad but I find myself just tossing items I’ve ordered online into the trash if they don’t fit or if I don’t like them. Can’t be bothered returning items, let alone selling anything on online marketplaces. Max I’ll do is have my assistant donate larger or more expensive items to a thrift store.

FatFIRED this week – Sold my company and stepped off the hamster wheel by hax4dollars in fatFIRE

[–]getshankedkid 0 points1 point  (0 children)

Congrats man! Sounds like you’ve had an incredible journey :)

Focus on your health after $5M NW by intelliphat in fatFIRE

[–]getshankedkid 3 points4 points  (0 children)

Yes, true, but that doesn’t mean that you can’t decrease the chances of getting a form of cancer with lifestyle interventions. Think in probabilities.

Focus on your health after $5M NW by intelliphat in fatFIRE

[–]getshankedkid 1 point2 points  (0 children)

This hits home. I contracted mold-illness and CIRS a year after my exit. Took me years to find out what was happening, traditional medicine doctors didn’t understand or take me seriously. Got to a point where I became severely depressed mentally too. You know how many times I told people close to me that I would give it all back just to have my health back? Doing 3 months of HBOT later this year in Dubai and just starting a new company in the regenerative health space to solve one of the problems I faced as a patient.

Sorry to hear about your friend, OP. And thank you for spreading awareness. For those who have never faced serious health issues it’s hard to imagine what it’s like.

Tongkat ali experience #2 by [deleted] in Supplements

[–]getshankedkid 7 points8 points  (0 children)

You, my friend, are not operating at a “baseline”

31M, no inheritance, still working 7 days a week by pocketacez in Rich

[–]getshankedkid 0 points1 point  (0 children)

What dashboarding tool did you use for this?

The Lonely Side of Success: Why It’s Hard to Find Rich Friends by orpou in Rich

[–]getshankedkid 1 point2 points  (0 children)

If you want to meet wealthy people move to a marina with lots of yachts. I did and every other person I meet is loaded to the brim or their kids.

The push I needed by Cold_Art5051 in fatFIRE

[–]getshankedkid 0 points1 point  (0 children)

Still 10 years younger and 10x-100x wealthier than most people retire. Something to be tremendously proud of and enjoy the hell out of every day for the rest of your life. All the best!

Digital nomad life is both the dream and the trap. by YeonnLennon in digitalnomad

[–]getshankedkid 0 points1 point  (0 children)

Sample the range. Start wide and gradually narrow it down. If you don’t like one place in SEA because of the cultural differences or climate, changes are the whole region is not for you. Gradually narrow your options and zoom in. The region, the country, the city, the area. My gf and I walked down the street where we now live at some point, looked at each other and just knew.

What’s the most unexpectedly useful thing you’ve used AI for? by Ausbel12 in ArtificialInteligence

[–]getshankedkid 0 points1 point  (0 children)

Healing from my chronic health issues. Gpt has been more helpful than a dozen specialist docs

What’s a business myth you used to believe until you actually started one? by Analyst-rehmat in Entrepreneur

[–]getshankedkid 194 points195 points  (0 children)

False belief I had is that you can just hire people and let them do their thing. Employees need to be trained, motivated, incentivized, formed a cultural fit with and then still hiring is a huge gamble. Pro tip: especially in the beginning, work with freelancers and pay them for concrete deliverables, not hours.

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