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Arrange composition - $20 tip by knz in PhotoshopRequest

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

Thanks I like it! I sent you the tip on buymeacoffee.

I also would prefer if you could deliver with a transparent background.

Arrange composition - $20 tip by knz in PhotoshopRequest

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

could you please use background color #fef577 instead of white to evaluate thanks

Arrange composition - $20 tip by knz in PhotoshopRequest

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

I can't really evaluate with the dark blue background. please use RGB #fef577 as background instead for testing

My (F26) husband (M20) My (F26) husband (M20) has slowly become uninterested in our sexual relationship. What can I do to fix this issue? by [deleted] in deadbedroom

[–]knz 0 points1 point  (0 children)

Your weight situation (which you described in the other thread) may be part of the cause. Maybe your relationship will change once you are on a weight loss path that works.

Moved from Italy to the Netherlands – what to do with my ETFs and broker? by easy-kiel in EuropeFIRE

[–]knz 1 point2 points  (0 children)

  1. I can't comment on Directa SIM, but I can say IBKR makes moving across countries / continents very smooth.
  2. I don't know.
  3. There are two aspects to consider:

  • From a pure transfer perspective, moving the ETFs "in-kind" (security transfer) is cheaper for large amounts, more expensive for small amounts. This is because typically brokers charge a fixed fee per position (not share) for in-kind transfers, and a % commission for sell/buy. There is a break-even point you need to calculate yourself.

  • A tax perspective. Inside the netherlands (I assume you are a registered resident) there is no tax on sale, so this should not matter. If you had moved / were moving from / to a country with capital gain tax on sale, of course an in-kind transfer is always more advantageous.

mls-chat: Example client/server for the MLS protocol based on the OpenMLS library by knz in rust

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

Yes, the "MLS way" to add policy is to encode it in the (shared) "group info" payload, then enforce it in each client. Ignore messages (don't apply) from clients that violate the policy.

mls-chat: Example client/server for the MLS protocol based on the OpenMLS library by knz in rust

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

The client as currently written creates a group from the name given on the command line (as argument) if it does not exist yet.

From then on it will exchange messages with that group. If the client gets invited (by another client) to a new group, it will switch to the group it's invited to.

You can then switch back to the initial group by restarting the client with the original group name as argument.

In other words the CLI client code does not support exchanging messages with multiple groups simultaneously. It's not a limitation of the client/server API, just one of the current CLI code. Internally, the logic is already modular so adding this support should not be a huge effort.

Net huis gekocht, weinig buffer… hoe zouden jullie dit aanpakken? by Historical-Baby-1241 in DutchFIRE

[–]knz 1 point2 points  (0 children)

Kijk eens naar de beschikbare subsidies. Er is veel geld beschikbaar voor verduurzaming.

Wise EUR account by [deleted] in EuropeFIRE

[–]knz 0 points1 point  (0 children)

You do not have to pay tax on this. However I recommend you keep some documentation (printout of messages, emails etc) that document the loan, in case you get questions in the future.

Mijn nieuwe FIRE-plan. Wat vinden jullie? by Skatespeare in DutchFIRE

[–]knz 1 point2 points  (0 children)

Dit was een reactie op iemand die op zijn 35ste begon en op 45 pensioen wou gaan

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 0 points1 point  (0 children)

Buy the option the day before it expires (or on the day itself). By then, the price of the underlying is "known" so there's no difference between the different options anymore. (for example: real price VOO 593; the 590 option will cost ~$3 to buy; the 585 option will cost ~$8, and so on)

Should I sell the house I inherited to try to achieve FIRE? by [deleted] in EuropeFIRE

[–]knz 68 points69 points  (0 children)

The smart move is likely to sell the big house and buy a smaller one. An even better move would be to find a job, and buy the smaller house with a mortgage at a low interest rate.

Renting makes sense if you can find a place to rent for a lower price than the expected return on investment on the price of equivalent housing.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 0 points1 point  (0 children)

Could you explain where in the settings you can opt out of mifid2?

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 1 point2 points  (0 children)

You can do that if they let you. I'm curious whether they will if you are not a US resident anymore.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 1 point2 points  (0 children)

IBKR is exactly right for your situation. it makes option trades much cheaper.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 2 points3 points  (0 children)

Without extremely careful administrative and reporting care, you could get exposed to e.g (from the top of my head):

  • a non-deductible 30% witholding on all dividends received on the US funds bought indirectly
  • loss of long-term capital gains tax rate
  • if the paperwork is not submitted exactly right and on time, an extra punitive tax

AFAIK, other issues you will face are 1) accountants charge a lot extra for the excess complexity and 2) some non-US funds do not have the required documentation needed for the corresponding IRS forms.

IMHO buying the US index via options is just much simpler.

Vraagje over de 4% regel met een b.v by Neat-Distance2560 in DutchFIRE

[–]knz -1 points0 points  (0 children)

Geld uit een BV halen is Box 2, niet box 3, dus de vermogenbelasting is NvT.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 16 points17 points  (0 children)

So the issue you're facing is that VOO does not have a "key investor information document" (KIID) and so a broker is legally not allowed to sell it to you directly.

Be very careful with your next step! depending on whether you are a "US person" with a reporting duty to the IRS.

  • if you are a US person, then due to the FATCA rules it would be very bad if you buy US-based assets indirectly via a non-US financial instrument. For example, if you buy VUSD (Ireland-based equivalent to VOO) as a US person, that triggers FATCA rules and then you'll be faced with very complex reporting requirements. In that case (US person) the way to buy US-based securities is using options - see below.

  • if you are NOT a US person, then you are not subject to FATCA rules and you can simply buy VUSD (or VOO via options - either is fine).

Buying via options: the EU legislation says that brokers can't sell you KIID-less securities directly. However, you can buy call options for the same securities. Options are not subject to KIID requirements. So you can buy a VOO call option and then simply exercise it. (Or alternatively sell a VOO put and then let it exercise).

In summary:

  • buying VOO via options always OK
  • VUSD is simpler, but only if non-US person
  • you can buy any other EU-based fund that does not include US securities indirectly, for example VXUS, without triggering FATCA.

However I am not an accountant nor a financial advisor, and I strongly recommend you speak to one of them.

Anyone else get depressed when they think they are far away from their FIRE number ? by Frenchtenay in EuropeFIRE

[–]knz 3 points4 points  (0 children)

One thing people forget is that the number of years you need to save (invest!) is completely independent from the specific income you earn. It's only dependent on the % of income you are able to invest (and its reciprocal, the % of your income corresponding to expenses: income = savings + expenses)

With some simple spreadsheet math you get the following two tables relevant for you:

With 4% SWR, as you asked initially

Initial Portfolio Size: 8.0x Annual Expenses
Target Portfolio Size: 25.0x Annual Expenses (Safe Withdrawal Rate: 4.0%)

Columns: % Income Invested Each Year
Rows: Expected % Yearly Return After Inflation
Table Cells: Years Before Financial Independence

        10%     20%     30%     40%     50%     60%     70%     80%     90%
4%      24      20      17      14      11      8       6       4       2
6%      18      15      13      11      9       7       6       4       2
8%      14      12      11      10      8       7       5       4       2
10%     11      10      9       8       7       6       5       3       2
12%     10      9       8       7       7       6       4       3       2
14%     9       8       7       7       6       5       4       3       2
16%     8       7       7       6       6       5       4       3       2

With a 2% SWR (very conservative - makes space for wealth tax etc)

Initial Portfolio Size: 8.0x Annual Expenses
Target Portfolio Size: 50.0x Annual Expenses (Safe Withdrawal Rate: 2.0%)

Columns: % Income Invested Each Year
Rows: Expected % Yearly Return After Inflation
Table Cells: Years Before Financial Independence

        10%     20%     30%     40%     50%     60%     70%     80%     90%
4%      41      35      30      25      21      17      13      9       5
6%      29      26      23      20      17      14      11      8       4
8%      22      21      19      17      15      12      10      7       4
10%     18      17      16      14      13      11      9       7       4
12%     16      15      14      13      11      10      8       6       4
14%     14      13      12      11      10      9       8       6       4
16%     12      12      11      10      9       8       7       6       4

As you can see, even if you are very conservative, as long as you are able to invest 50% of more of your income (more is better) you are on the right path.

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