Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 03-09-2011, 07:45 AM   #61
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 156
ETF's are fine if you want to babysit them thru good and bad times or just let them go as you please, like the -37% loss in 2008.
I think my fund managers are worth every penny they earn and high water mark keeps them enlightened to keep the returns positive. One waives the performance fees anyway and is the biggest investor in the fund he runs.

I don't use a % of withdrawl method or income producing portfolio.
When I see the need for cash I withdrawl from a fund for future expenses.
As I work now and then a year or two at a time which provides me with savings for around 3 years each year I work (much of it tax free). I am single and children are grown, parents live in one of my residence. I guess living overseas 30+ years, where I spend most of my off time lets me be nonchalant more than rigid.

How is that for a plan, make high returns or low losses paying top professionals to take care of it while I enjoy life when not working.
__________________

__________________
wcv56 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-09-2011, 08:16 AM   #62
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 156
Top Ten Hedge Funds make $28bn

http://www.ft.com/cms/s/0/24193cbe-4433-11e0-931d-00144feab49a.html#axzz1G62Wwbwl
If you’re curious as to just how well hedge funds perform for their clients then here is a recent article in the Financial Times Newspaper detailing the performance of the world’s top hedge funds run by high profile names as George Soros and John Paulson.

In just one comparison, the top 10 hedge funds made $28bn for clients in the second half of last year, $2bn more than the net profits of Goldman Sachs, JP Morgan, Citigroup, Morgan Stanley, Barclays and HSBC combined. So given how well these banks have done recently this is no mean feat.
__________________

__________________
wcv56 is offline   Reply With Quote
Old 03-09-2011, 08:41 AM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Back on topic, CDs or short-term bond funds...

Not sure hedge funds are the answer to this particular question...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 03-09-2011, 09:28 AM   #64
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Quote:
Originally Posted by HFWR View Post
Back on topic, CDs or short-term bond funds...

Not sure hedge funds are the answer to this particular question...
You forgot TIPS........

wcv56, I'm not doubting your success as a hedge fund investor, just the need to take on so much risk, but lets move on. Are you a US citizen? As a soon to be US expatriate myself I'm looking for tax advice, do you do your own taxes or pay someone to do them, I'm looking for someone with expatriate tax knowledge, can you recommend someone and I'm intrigued by your "tax free" wages....do you take the foreign earned income exclusion?
__________________
nun is offline   Reply With Quote
Old 03-09-2011, 09:49 AM   #65
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 156
I use an accountant who filed 15 years of taxes for me in 3 years without penalty.
Terrible fights with IRS but he was right every time, IRS didn't know their own rules
many times.
The average cost is around $3K for each year, 65 pages is average I would say.
Today the tax free amount is $91.5K if you work and file what you make. I work with
us companies and they almost always do a W-2. I keep all my money in the USA and use ATM's for withdrawls. I use Florida for home of record where I have a house.

Any earnings or interest from bank accounts is to be reported to include foreign bank accounts. Not sure IRS would ever know thou.

Lane Keeter (Little Rock Ar.) Ph 501-362-8281
This is a firm and I am not sure how many CPA's work there.

If you are going to just live overseas and not work nothing will really change for you as
far as taxes are concerned. You can try to do foreign market investments but not sure it would be worth trying to hide it, I don't and wouldn't. I don't mind paying taxes even though I have had some hefty tax bills in the past.
__________________
wcv56 is offline   Reply With Quote
Old 03-09-2011, 09:53 AM   #66
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Thanks, good info. It sounds like your accountant is doing the right stuff and filing FBAR etc, but just check that they are up to date with FATCA.
__________________
nun is offline   Reply With Quote
Old 03-09-2011, 10:17 AM   #67
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 156
He has helped me out chasing down K-1's and all as I am normally out of country.
2555 is used to report/file your overseas income. As I don't get taxed by the foreign countries I don't get into the credit for paying foreign country taxes if they have a
treaty with U.S.
I gave him power of attorney so he can sign my returns for me. He does have me look at them first and give him my approval on the filings.
__________________
wcv56 is offline   Reply With Quote
Old 03-09-2011, 10:18 AM   #68
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,834
Quote:

If you are going to just live overseas and not work nothing will really change for you as
far as taxes are concerned. You can try to do foreign market investments but not sure it would be worth trying to hide it, I don't and wouldn't. I don't mind paying taxes even though I have had some hefty tax bills in the past.
Foreign pooled investments ie mutual funds are not a good idea for US citizens, but individual foreign stocks are ok. I might work abroad, but I'll probably take a foreign tax credit as I'll be resident somewhere in the EU.
__________________
nun is offline   Reply With Quote
Old 03-09-2011, 10:31 AM   #69
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 156
I use the 330 days out of a 365 time frame for my filing.
Using a foreign residence filing has other requirements than staying out 330 days a year which can be from Mar thru Jan. I believe as foreign resident filing you can actually be in the USA more than 35 days a year. You can still own house or condo
in the U.S. and still be a foreign resident filer. If you work for foreign company not sure IRS would ever know you worked or had earnings.

I worked in Germany last Sept for a few weeks before I resigned and told them I was
taking a break. Single person tax 45%, VAT 19%, Fuel $7 a gallon, housing expensive also. The company would only give small bonus to compensate so I left.
They just ask me if I would work 2 years in another place, I said yes so just waiting
for offer letter.... Kind of bored traveling most of last 7 months allot of hotels, bars and golf courses.
__________________
wcv56 is offline   Reply With Quote
Old 03-09-2011, 10:43 AM   #70
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,074
Quote:
Originally Posted by wcv56 View Post
If you work for foreign company not sure IRS would ever know you worked or had earnings.
I've only got experience with the UK, and if you work for a UK company, or draw a pension from a UK company you will be taxed in the UK unless you get a certificate from the US IRS declaring that you are paying US taxes. I then declare my UK income and pay US taxes. I certainly wouldn't want to risk tax evasion by not fully declaring my UK income.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 03-10-2011, 06:36 AM   #71
Recycles dryer sheets
 
Join Date: Sep 2008
Posts: 142
How about using a fund like VASIX it holds ~ 20% stocks. I currently hold ~ 40% cash and it seems like a waste when compare to the yield on Cd's and money market funds. I wish that I could be a bank and borrow money at zero and lend it 4, 5 or 10%. The banks have a real nice milking machine!!!!
__________________

__________________
HF63 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Where is your cash? tuixiu FIRE and Money 47 09-25-2009 10:24 AM
How many years of cash/cash equilivents do you have now Florida FIRE and Money 70 03-10-2009 04:32 PM
Would you keep cash or... F-One FIRE and Money 16 02-24-2009 05:53 AM
cash on cash rate - what should it be DollahBillYall Young Dreamers 20 06-15-2007 07:14 AM
Should I have more cash? LRAO FIRE and Money 6 02-17-2005 03:54 PM

 

 
All times are GMT -6. The time now is 10:04 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.