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Message
re: Would you take $50 million tax free or $2 million/year tax free for life
Posted on 2/12/20 at 3:15 pm to TechDawg2007
Posted on 2/12/20 at 3:15 pm to TechDawg2007
quote:
Would you take $50 million tax free or $2 million/year tax free for life
Yes
0
Posted on 2/12/20 at 3:15 pm to LSUFanHouston
(no message)
This post was edited on 10/19/21 at 7:56 am
Posted on 2/12/20 at 3:16 pm to LSUFanHouston
Warren Buffet is 89 and worth 90 billion dollars. I'm sure people were saying the same shite about taxes and the market when he got started. Good thing he didn't listen.
Posted on 2/12/20 at 3:18 pm to Thib-a-doe Tiger
quote:
If I net 1.5mm annually, and still have 50mm invested, you're going to say I'm better off taking 2mm tax free annually?
Year 1, you take a 20% hit, net of earnings (harsh, not crazy to consider). So now 50 million is 40 million.
Year 2, 5% total return, so 2 million, but 40% goes to taxes (because I live in a stupid high-tax state). So I net 1.2 million and have to take 800K from my 40 million, etc.
This keeps happening, I have to take on more risk.
quote:
I'm going to ignore the taxes and stock market stuff after that because one is an unknown and the other would lead to an apocalypse
That's like saying I'm going to divorce my wife and marry Halle Berry, and I'm going to ignore the fact I'm fat, unattractive, etc.
Look... the chances are LOW, which is why I'm saying, for the third time now, I'D TAKE THE 50 MILLION. But... it's worth considering, for a moment, alternatives.
Posted on 2/12/20 at 3:19 pm to lsutiger2010
quote:
So you think the stock market is going to be down and stay down for 70 years?
No. But I think a few big hits early on, combined with slow growth after, and high tax rates, and other wealth-confiscation scenerios, make this at least worthy of discussion.
Posted on 2/12/20 at 3:20 pm to RabidTiger
quote:
Warren Buffet is 89 and worth 90 billion dollars. I'm sure people were saying the same shite about taxes and the market when he got started. Good thing he didn't listen.
If we all invested like he did, we wouldn't need to worry about taking 50 mil or 2 mil / yr, LOL
Posted on 2/12/20 at 3:21 pm to LSUFanHouston
Why would you be paying 40% instead of the capital gains tax rate?
Posted on 2/12/20 at 3:25 pm to TechDawg2007
quote:
$50 million tax free
This one and make that money make me money.
Posted on 2/12/20 at 3:30 pm to tigercross
quote:
Why would you be paying 40% instead of the capital gains tax rate?
Because I think there's a good possibility that we will no longer have qualified dividends at some point in the near future, or at least at certain brackets.
Or maybe I'm investing in ordinary income activities.
Posted on 2/12/20 at 3:33 pm to TechDawg2007
50 and it’s not even a question for multiple reasons
You can invest it plus you might die next year leaving behind way less
Also depending on where this 2 mil/year is coming from I wouldn’t trust it to not dry up and not actually pay out for life
You can invest it plus you might die next year leaving behind way less
Also depending on where this 2 mil/year is coming from I wouldn’t trust it to not dry up and not actually pay out for life
Posted on 2/12/20 at 3:33 pm to poncho villa
[quote]50 million put half of it on red/quote]
Posted on 2/12/20 at 3:35 pm to TechDawg2007
50 mil cash all day. It will take you about 36 years after tax with the 2 million a year to reach 50 million cash. Even if you take the 50 million and put it in bonds, it would take you about 45 years to come close to making up the difference.
Posted on 2/12/20 at 3:35 pm to LSUFanHouston
(no message)
This post was edited on 10/19/21 at 7:56 am
Posted on 2/12/20 at 3:37 pm to TechDawg2007
$50 million tax free now. Even if I made zero in interest I would be set for the rest of my life and have plenty left over .
Posted on 2/12/20 at 3:39 pm to lsutiger2010
quote:
The Dow has only had a drop of greater than 20% once since the early 70's oil crisis. In that same time frame, it has had 15 years with growth of greater than 20%. It's not really a debate.
What's the old saying about past performance... future performance?
I mean, you have to be really risk-adverse to not take the 50. But... it's a greater than zero percent chance it goes to hell.
Posted on 2/12/20 at 3:41 pm to TechDawg2007
$2 million per year.
Posted on 2/12/20 at 3:44 pm to LSUFanHouston
(no message)
This post was edited on 10/19/21 at 7:56 am
Posted on 2/12/20 at 3:45 pm to poncho villa
quote:
50 million put half of it on black
2 mill/yr.
every birthday put one million on red for the rest of my life
Posted on 2/12/20 at 3:48 pm to TechDawg2007
Age matters, but 50.
Posted on 2/12/20 at 3:49 pm to tigernnola
quote:
Age matters,
No it doesn't.
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