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03-22-2019, 03:56 PM
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#61
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Thinks s/he gets paid by the post
Join Date: Dec 2017
Posts: 2,534
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Quote:
Originally Posted by miguelmartino
since i dont know when my rich uncle will die then i dont know how old i will be when the money is actually in my possession! ....i live in the u.s. but only as a legal resident and if its necesary to one day renounce my legal status here in the u.s. then so be it!
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You need to seriously look at the tax requirements for the place(s) you'd want to live.
If you inherit the money before you renounce your US citizenship, you'll have to pay an 'exit tax' on the inheritance value before the US lets you give up your citizenship. That's about all I know about this. Time for you to do some serious research, or you could lose half or more of your inheritance to various taxes.
https://www.forbes.com/sites/robertw.../#7e782127287d
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03-22-2019, 04:07 PM
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#62
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Confused about dryer sheets
Join Date: Jun 2010
Location: West Seneca
Posts: 5
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Quote:
Originally Posted by REWahoo
Nothing is sure but death and taxes.
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and Nursing Homes for elderly care... draining what money that relative has.
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03-23-2019, 07:21 AM
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#63
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Full time employment: Posting here.
Join Date: Jun 2018
Location: Brisbane
Posts: 855
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Quote:
Originally Posted by davedionne
and Nursing Homes for elderly care... draining what money that relative has.
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sad but true
__________________
i hold the Australian listed versions of AU ( Anglo Ashanti ) , BHP , and JHG .
You must learn from the mistakes of others. You can't possibly live long enough to make them all yourself.
Samuel Levenson
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03-23-2019, 10:22 AM
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#64
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Recycles dryer sheets
Join Date: Oct 2011
Location: Upstate Ruralia
Posts: 356
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MIguel....have I told you today how handsome and talented you are?
Let's meet! For a small fee I will advise you in private what to do with your billions!
Bring your statements...better yet, bring your rich uncle's phone number!!!
Thanks!
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03-24-2019, 02:34 PM
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#65
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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Quote:
Originally Posted by miguelmartino
right now im going on 39 and dont know when so i can safely assume that if i were to inherit like 800 million dollars in the distant future i no longer need to plan for retirement?
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That depends on how lucky you feel.
If your uncle promised you a lot of money, how confident are you that you will actually get that money? People change their minds. Investments tank. Governments change.
Have you actually met this rich uncle in person?
If you feel very lucky, then stop planning for retirement and keep your fingers crossed for a lot of years. You'll learn if you guessed right sometime in the distant future.
I wouldn't use the word "safely" here. But we may differ on our definition of that word.
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03-24-2019, 02:57 PM
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#66
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Location: Palma de Mallorca
Posts: 1,419
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I'm starting to wonder if the OP had ever heard of this uncle until he received an e-mail from him, asking for help with the administration fees involved in getting the money out of those offshore accounts.
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03-24-2019, 04:41 PM
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#67
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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Quote:
Originally Posted by BigNick
I'm starting to wonder if the OP had ever heard of this uncle until he received an e-mail from him, asking for help with the administration fees involved in getting the money out of those offshore accounts.
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The Nigerian Uncle scam...
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03-24-2019, 06:10 PM
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#68
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,395
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Quote:
Originally Posted by joeea
The Nigerian Uncle scam...
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+1
Cheers!
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03-24-2019, 08:11 PM
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#69
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,232
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The bottom 2 posts were posted by the OP (1st 2 posts) in the City Data Retirement forum.
No mention of a rich uncle....
if someone started working at 20 and retired at 70, how big would their 401k be if they maxed it out? for 50 years they put as much money as the law would allow. each year for 50 years they made about 50k annually working as a bricklayer. they never had kids and never got married. how big would their 401k be after 50 years if they decided to max it out? i think that uncle sam puts a limit per year which i think is like 18 or 20k annually or something like that. would their 401k be like 3 million approximately or more? can someone please help me here? thanks.
could someone become rich by buying stocks and if so, how long would they have to wait to see some serious return on their stocks assuming they became millionaire rich ? 30 years or more or less? how long would someone typically have to wait in order to become millionaire rich with their stocks? would they have to wait a really long time assuming that they ever saw some serious potential here as far as stocks go or is this just an urban legend? whats the deal with buying stocks and some people claiming that they became millionaire rich or any kind of rich again assuming they maxed it out? would there be any stocks experts here on this forum regarding retirees and their stocks thinking someone made some serious money with their stocks? the only part i cant figure out is how long they would have to wait to see some serious return on their stocks? rsvp.
__________________
TGIM
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03-25-2019, 05:59 AM
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#70
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,395
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The rambling questions and statements do very little to install confidence that this person (if this is legit) can be helped until he exerts effort to educate himself on some fundamental principles. This posting of numerous hypothetical questions may never end.
The OP needs to spend some time reading a few of the resources here:
Retirement Planning Resources - Early-Retirement.org Links Directory
Are you still with us miquelmartino?
Cheers!
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03-25-2019, 07:03 AM
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#71
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Full time employment: Posting here.
Join Date: Jun 2018
Location: Brisbane
Posts: 855
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and thinking very carefully on what will be best for him ..there will plenty of temptations he should avoid
__________________
i hold the Australian listed versions of AU ( Anglo Ashanti ) , BHP , and JHG .
You must learn from the mistakes of others. You can't possibly live long enough to make them all yourself.
Samuel Levenson
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03-25-2019, 12:31 PM
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#72
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,686
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Confucius say, "Rich Uncle with $800M will surely find harem before death finds him."
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03-25-2019, 12:54 PM
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#73
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Confused about dryer sheets
Join Date: Mar 2019
Posts: 7
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Or wealthy uncle may find God... and give away his money for salvation.
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03-25-2019, 01:21 PM
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#74
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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Quote:
Originally Posted by ASung90s
Or wealthy uncle may find God... and give away his money for salvation.
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My not-so-wealthy aunt gave virtually all her money (6 figures) to her church.
She gave $1000 to one step-daughter who helped her for many, many years.
It was her money to give as she chose. And I guess she got a lot of peace from her religion.
But still, I thought her step-daughter deserved a lot more. The step-daughter seemed okay.
BTW, for everyone who intends to leave the bulk of their fortune to the church, leave a defined amount rather than "whatever is left". The latter makes the executor's job much harder (at least in my state). A lot of paperwork is required by the state to make sure nobody is getting scammed. That paperwork could have been avoided by bequeathing a fixed amount to the church and the remainder to an heir.
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03-26-2019, 08:39 AM
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#75
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Confused about dryer sheets
Join Date: Mar 2019
Posts: 7
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Quote:
Originally Posted by joeea
It was her money to give as she chose. And I guess she got a lot of peace from her religion.
But still, I thought her step-daughter deserved a lot more. The step-daughter seemed okay.
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If the step-daughter is also religious, it's very much understandable.
Counting on an inheritance before probate is just not a smart way to live.
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03-26-2019, 10:39 AM
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#76
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Confused about dryer sheets
Join Date: Feb 2019
Location: Swansea
Posts: 5
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Dtail above found the same info I did..... A guy with the exact same user name has been posting random financial questions on at least one other forum. The questions and poor grammar / punctuation are identical. I'm 99.9% sure this is a troll. If he is really about to inherit $800 frazillion billion million dollars, and he is seeking financial advice from strangers on retirement forums, he will probably be swindled out of it before he reaches 65!!
__________________
I totally 'get' the dryer sheets!!!
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