if youre truly rich, you can do whatever you want, even if its expensive

for many people, saving a couple hundred thousand every year for a couple years in their early adulthood is worth a lot (time value of money) and buys them plenty of time with family / friends in the future

https://twitter.com/alpeh_v/status/1716347159698682157

someone asked me about relocating for tax minimization and the above was my answer

with each higher tier of tax savings, there is also an associated "costs"

some are "low-cost" to do, like just investing from a retirement account instead of a tax-liable cash brokerage account

altered the based infographic to remove the $10k tier

you'd notice 2 main things:

#1 - primary residence + real estate as a % of wealth decreases over time

#2 - financial assets (in blue) increase over time

bonus notes: rich people do not depend on retirement schemes

https://twitter.com/dollarsanddata/status/1712559580327158024

let's talk house

primary residence peaks at ~45% for people with 100k networth and continually dives down as people get richer, why?

the ceiling for primary residences essentially caps out worldwide at ~$50M

yeah, there's some crazy exepensive houses, but those are outliers

my answer: if not for own use and just a pure return play, it is not apparent to me RE has better returns

even if negating RE downside of leverage, illiquidity, etc

the increase in mental overhead is also a QoL drain

yes, you can outsource it

but who will manage the managers

https://twitter.com/0x_emperor/status/1653238884632006656

i think its fairly easy to backtest this

find a property 5-10 years ago in your city of choice and simulate buying it and renting it out, dont forget financing cost and taxes

compare that to SPY, and remember, you do nothing for your SPY returns, returns just drops from the sky

watched a youtube video yesterday in which a guy rated investors based on

1. returns, of course
and 2. scalability of strategy

as i make more money, i start to realize the 2nd part is pretty important ive simplified things on the tardfi side of things that i only employ 2 simple strategies, each with infinite scalability:
- S&P500 ETFs (for risk on)
- t-bills (for risk off)

i hate the concept of passive investing, especially passive income

nothing about investing is passive

even choosing which passive index to follow and how much to allocate, is still an active choice

"passive" just simplifies and compresses the operational processes at the tip however, this does not mean that indexing is bad; i think it's superior

for normal people with access to normal products and cant suck the dick of some star fund manager for allocation: index

the active outperformance (if there even is any) is almost never justified by the fees

no physical metals

- as someone holding physical metals

a small regret in life: i should've bought more digital gold instead of analogue bitcoin

GLD works fine, but one could also buy unallocated PM with reputable banks with built in ongoing custody fee and optional delivery

https://twitter.com/CrunchnastyG/status/1651658747453005826

imo (could be wrong) the self custody aspect of PMs is hugely overrated

the odds that the world collapses and reverts to a barter system based on precious metals is insanely retarded and thats just doomer prepper hardcore fantasy porn

it is decent for money laundering i suppose

probably unpopular opinion, but i consider the better crytpo exchanges superior to lower tier offshore banks

i know its not the same thing - just how confident am i to get back my money

you rather have 10m in kraken/coinbase/binance or in bank in turkey/cyprus/caribbean islands

https://twitter.com/DegenSpartan/status/1650778546959450114

there's probably less than 10 jurisdictions in the world you'd want to bank in with serious sums of money, pick a couple

+ bank where you live / have residences, if possible, just makes payment for daily and domestic expenses easier

then its just shifting between your own bases

imo, the removal of speculation in the residential property market is important for fairness and societal stability

it is intuitive that 1st property for natural people should be at no/minimal tax

while subsequent properties or for entities should be priced substantially higher

https://twitter.com/ASvanevik/status/1651398726471282688

coincidentally just read this article

singapore is expensive as a foreigner, only if you live like a foreigner

why should cost of living be similar to locals?

locals live in public housing, take public transport, eat local food, ofc cost is lower lol

https://twitter.com/WuBlockchain/status/1650843805992775680

unfortunate but common situation

unless you keep large enough balances with them, let them parasite enough fees or just a bank with poor compliance

the cost-benefit analysis result is that they SHOULD nuke you as a customer instead of taking AML risks and extra compliance work

https://twitter.com/CryptoDonAlt/status/1651290544411123713

ive had banks that tell me absolutely under no circumstances can inbound sources be crypto related

fine, i just use them bank for regular banking

ive no intention to increase their share of my account - its a very transactional relationship with them. i simply pay for services

i feel like i should do the stupid NFT mint and shield emoji since im a COIN community member bag holder but also because

brian is bald

https://twitter.com/coinbase/status/1651001240627875841

i might not even mint the NFT and just use the emoji anyway

illegally

almost exactly how i see it

2 drives
1 bear market rally
then accumulation

im not a double bottom believer though (next tweet)

as mentioned, i hate using the march 2020 datapoint

im expecting a fairly obvious higher low

https://twitter.com/warobusiness/status/1650791916470956032

idk what kind of analysis this is

but its mine

https://twitter.com/DegenSpartan/status/1598217802372247552

norway ups wealth tax by 0.1% to 1.1%, the rich yeet themselves out

countries realizing that people can just, get up and leave, with the rich being the most ABLE to do so

expect divergence, as govts either rush to lock in wealth or attract UHNW refugees

theguardian.com/world/2023/apr… 1% to 1.1% is nothing

but rumblings of a stricter EXIT TAX to lock them in has forced their hands

once the exit tax laws are fortified, the govt is free to raise wealth taxes as high as they want on the imprisoned

oh, not happy about it, ganna leave?

no problem, pay exit tax

CT discussing their retirement number

https://twitter.com/ApeDurden/status/1650197722211979264

i was thinking about scaling yesterday

the only way to reach 100m+ is

- lottery
- inheritance (another lottery)
- finance

nobody works their way from a job into a 100m+

if they did, work happened to be the side show, the main carry was the upside of being a business owner

Unpopular opinion:

If most of these tardfi doxed ppl were anons instead of borrowing old world legitimacy from their dox and namedropping their past + current affiliation, nobody would be following or care about them

There are few obvious exceptions, but most are not exceptions

https://twitter.com/richardchen39/status/1649905407576375297

brotatoes, i implore you to only ever dox for 3 reasons:

- legal and banking reasons

- to hook up irl with a cute femboi you met here

- you have a job that relies on people trusting your reputation

even then, i think 2 out of 3 of them arent really very good reasons

out of intellectual curiosity ill probably try to withdraw every LSD and talk about the experience from the pov of an ex effirium core dev did you know that you can claim to be a core dev and no one actually cares

i like this comment because it also highlights the impact of portfolio allocation

you allocated 100% your crypto portfolio into BTC and got a 2x? very nice

but you're 90% in stables and your allocation was 10%? your BTC 2x translates into a portfolio +10% gain

size does matter there's only 2 ways to outperform someone else (not sure why you'd want to do that tho)

-buy things with higher beta
-have a larger % allocation to risk

the thing is tho, for gripto, since so many of us are 90%~all in (maybe even leverage), outperformance comes from #1

has your portfolio 2x'd in USD value since the nov 22 bottom?

if it has, you've outperformed bitcoin

if it hasn't, you need to realize that you're terrible at this shit just saying that if youre going to higher risk stuff, you should be outperforming BTC or ETH or a benchmark blend of both

because if not you might be better off with a simpler strategy

i realized this for myself last cycle when i aped shitcoins and didnt really outperform much

kyle asking followers for good fried chicken restaurants is breaking my brain btw from my research, a franchisable F&B biz is probably one of the best ways to airdrop yourself into any country

almost all non-retarded countries have an entrepreneur visa for people that set up shop and hire a bunch of locals

just copy-paste as necessary to get a work visa

i watched the latest nomad cap video

my estimate of AH's nw is ~$15m +/- $5m, ex company value (illiquid, probably worth much less w/o him)

with about $3-4m in his 6 properties

not a dig, but i now can see why he focuses so much on developing countries and seeking "value" it is indeed great to have pied-à-terres all over, especially in places that you frequent, bonus if you can get a free resident visa or citizenship to go along with it

but if one has to rationalize why malaysia over singapore, the real answer is cos they are just not rich enough

people buying crypto coins do so regardless of macro

oh the fed is hiking interest rates i should reduce my crypto allocation by selling some bitcoin / doge / NFTs and instead buy 10y treasuries yielding 4% since the risk adjusted returns is now bussin said no one ever

https://twitter.com/FredWick7/status/1632564590146998273

look around, less than 10% of the people in crypto even have a brokerage account

of that 10%, only 1 bored ape guy has level 3 data and he can see all our liquidations

i still standby that tax optimization is one of the biggest environmental buffs that one can acquire during their wealth building phase and the downsides of "not seeing family", "no social network" etc are massively overexaggerated to confirm the bias of their already made choice

https://twitter.com/Cheguevoblin/status/1632170160206299140

will concede that if you have children that formula changes

but then again since most of you have never touched a woman, that's also an overblown irrational fear of something thats not going to happen to you anytime soon

and that literally comes with a 9 month warning heads up