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How much do you know about financial independence?

May 17, 2021, 10:04 a.m.
Posts: 15171
Joined: Nov. 20, 2002

If you want to sleep at night yup indexed funds ^^ will out perform

there are all kinds of ways to make or lose money on the market

do you want to be "IN " the game, I know I don't have the attention span nor do I want to

May 17, 2021, 2:42 p.m.
Posts: 16696
Joined: Nov. 20, 2002

"Index funds are a great way to get average returns" - Warren Buffet

May 17, 2021, 5:17 p.m.
Posts: 15171
Joined: Nov. 20, 2002

or not lose it all depending on how you wana spin it,

who here can afford to lose it all and start again ?

May 17, 2021, 6 p.m.
Posts: 184
Joined: June 17, 2016

Average market returns at zero effort are good enough for us. No need to get rich overnight or at all, we just need enough. We're early 40s and hope to live at least another 40, statistics say that the number of people who will consistently manage to get above average returns over that time period will be very very small, like 1%, so why bother.

May 17, 2021, 6:19 p.m.
Posts: 1302
Joined: March 18, 2017

Plus if you're a Millennial or even Gen-X your life expectance is lower than that of the Boomers.  

IIRC this is the first time in modern history that wealth and health is trending downwards with each new generation.  Fun times a-head.

May 17, 2021, 7:27 p.m.
Posts: 323
Joined: Oct. 23, 2003

The planets gunna die anyways. Seems like every country in the world is not only doing nothing about it but hitting fast forward.

May 17, 2021, 8:52 p.m.
Posts: 18112
Joined: Oct. 28, 2003

Posted by: niels@nsmb.com

We just ran some numbers to see how much we'll need to be able to live off our investments. One of the things I discovered is that with some strategic withdrawing, we could be paying close to zero taxes once we reach that stage. How strange is that?

that's one of  the keys.   I cut my marginal tax rate from 30% to an average of 15% in 2020.   The wifee did much better.

May 24, 2021, 7:59 a.m.
Posts: 18112
Joined: Oct. 28, 2003

A message from the great stoic

https://www.mrmoneymustache.com/2021/03/26/beware-of-the-bubble/

May 24, 2021, 10:45 a.m.
Posts: 15171
Joined: Nov. 20, 2002

did you hear the one about the stock promoter trying to get into heaven ? St peter tells him that heaven already has a full quota of stock promoters, so the stock promter asks if he can convince someone to leave can he get into heaven ? St Peter sez well thats unusual but OK .

Half an hr later a big crowd of shady characters are running out of heaven followed by the stock promoter, St Peter asks how did you get them to leave and where are you going?

I started a rumor gold has been discovered in hell ! sez the promoter

and it could be true !

May 24, 2021, 11:19 a.m.
Posts: 18112
Joined: Oct. 28, 2003

it's a 200+ year old game.

https://en.wikipedia.org/wiki/Gregor_MacGregor

General Gregor MacGregor (24 December 1786 – 4 December 1845) was a Scottish soldier, adventurer, and confidence trickster who attempted from 1821 to 1837 to draw British and French investors and settlers to "Poyais", a fictional Central American territory that he claimed to rule as "Cazique". Hundreds invested their savings in supposed Poyaisian government bonds and land certificates, while about 250 emigrated to MacGregor's invented country in 1822–23 to find only an untouched jungle; more than half of them died. MacGregor's Poyais scheme has been called one of the most brazen confidence tricks in history.

May 25, 2021, 11:42 a.m.
Posts: 11507
Joined: June 29, 2006

Posted by: XXX_er

did you hear the one about the stock promoter trying to get into heaven ? St peter tells him that heaven already has a full quota of stock promoters, so the stock promter asks if he can convince someone to leave can he get into heaven ? St Peter sez well thats unusual but OK .

Half an hr later a big crowd of shady characters are running out of heaven followed by the stock promoter, St Peter asks how did you get them to leave and where are you going?

I started a rumor gold has been discovered in hell ! sez the promoter

and it could be true !

Sounds like Barkerville in 1862.

June 8, 2021, 11:49 p.m.
Posts: 3558
Joined: May 23, 2006

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

June 9, 2021, 6:39 a.m.
Posts: 1448
Joined: Feb. 17, 2009

Posted by: tungsten

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

An article suggesting that unrealized capital gains should be taxed. Not likely

June 9, 2021, 10:19 a.m.
Posts: 184
Joined: June 17, 2016

Posted by: rnayel

Posted by: tungsten

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

An article suggesting that unrealized capital gains should be taxed. Not likely

My home country (Netherlands) does this. Over there you don't pay tax on actual capital gains but you report the total value of your combined savings and investments on Jan 1st and pay income tax over a fixed assumed return on them (something like 4%), regardless of actual returns (even if negative).

I posted on the previous page about paying (close to) zero taxes once starting to live off investments, because taxable income will stay under or close to the personal amount tax credit. This is partly due to how capital gains are taxed here (they only count half basically). And anyone can do this - as has been discussed in this thread, just live below your means and keep saving and investing until you have enough.

I have mixed feelings about the tax thing - on one hand it will help us to retire early, on the other hand, if everyone did the same nobody would be paying taxes.

I'm in favour of some level of income/wealth redistribution but it's very difficult to come up with an effective, balanced solution. It's questionably whether the wealth tax in the Netherlands really works. It disproportionally hurts regular folks who just hold some money in savings accounts as they pay tax over assumed returns they don't actually make. And the ultra rich have the means to structure their finances in such a way that they can avoid the tax altogether anyway.

June 9, 2021, 10:39 a.m.
Posts: 15171
Joined: Nov. 20, 2002

the Haida had a great solution, there was no banks, no money, no refridgeration, no written language so the only solution was to give it all away

The richest man was the man who had given the most away, wierd for sure it only works if everyone is giving away every thing

this is a potlatch pole the rings indicate this man had held 13 potlatches where he had given it all away 13 times so in the culture  he was a very rich man,

this is an online photo but i did see this pole on a kayak trip in Haida Gwai


 Last edited by: XXX_er on June 9, 2021, 12:27 p.m., edited 2 times in total.

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