Got Inheritance, Now What? New, Want Help
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the guy seems inexperienced, suggesting gold and cryptos does not sound appropriate, those 2 asssets are not evil or great, but they tend to be very volatile (==> risky). Same story for "ETFs" on indexes. There could be many good ETFs and/or other instruments.
There is no short answer, the personal situation must be assessed considering risk tolerance, personal goals and personal circumstances. This is what a professional advisor should be able to do. In theory, as most of them are incompetent.
So before taking any decision do your research and due diligence, always analyze RISK in depth.
Look at the charts, if you had bought gold on the 8th of March 2022 would you be happy today? Gold is︀ not safe, like nothing is safe.
Low risk bonds / terms deposit are being eaten︁ by inflation now.
Cryptos? ahhahaha Overnight government could decide they are illegal and you are︂ left empty handed and if you try to "escape" all transactions are recorded on the︃ blockchain, far too easy to track.
Good luck
There is no short answer, the personal situation must be assessed considering risk tolerance, personal goals and personal circumstances. This is what a professional advisor should be able to do. In theory, as most of them are incompetent.
So before taking any decision do your research and due diligence, always analyze RISK in depth.
Look at the charts, if you had bought gold on the 8th of March 2022 would you be happy today? Gold is︀ not safe, like nothing is safe.
Low risk bonds / terms deposit are being eaten︁ by inflation now.
Cryptos? ahhahaha Overnight government could decide they are illegal and you are︂ left empty handed and if you try to "escape" all transactions are recorded on the︃ blockchain, far too easy to track.
Good luck
i agree. investing in crypto does not mean you have to put everything into a cryptoasset with a easily searchingable blockchain under analysis. I may not be educating, and didn't go to much school, but these other posters do not concern me.
No one is telling me best jurisdictions for incorporation.
Cyprus seems to pop up here a lot, but I don't know how︀ lengthy process of incorporation is.
Any investment advice that I pay for from someone who︁ has experience with risk would be licensed by my country and would likely be required︂ to give advice that is approved by advice rules and take records. I distrust my︃ government to be ethical or nice or do things in a fair way involving process.︄ I'll pass on that idea of giving money to a risk management specialist who will︅ tell me what the government allows and will say I should put assets in my︆ country's bonds to help government afford more printing presses so they can print more ponzi︇ money. I understand diversification and volatility.
Can someone discuss fast places to incorporate that have︈ decent privacy and are cryptofriendly?
No one is telling me best jurisdictions for incorporation.
Cyprus seems to pop up here a lot, but I don't know how︀ lengthy process of incorporation is.
Any investment advice that I pay for from someone who︁ has experience with risk would be licensed by my country and would likely be required︂ to give advice that is approved by advice rules and take records. I distrust my︃ government to be ethical or nice or do things in a fair way involving process.︄ I'll pass on that idea of giving money to a risk management specialist who will︅ tell me what the government allows and will say I should put assets in my︆ country's bonds to help government afford more printing presses so they can print more ponzi︇ money. I understand diversification and volatility.
Can someone discuss fast places to incorporate that have︈ decent privacy and are cryptofriendly?
Where to incorporate is also a long story.
Many details depend on which country you are resident now.
In most cases you get the benefit only if you actually relocate to the new country where you wish to incorporate (e.g. Cyprus, Dubai).
If you stay in your own country, then you need to declare everything to your government and probably you need to be able to justifiy why you incorporated a company in another country; also, to keep it legal could be quite an effort. And in many cases you would have to pay taxes on the foreign corporate income in the country where you︀ reside.
You can read many posts on this forum about CFC, economic substance, etc. or︁ arrange a chat with an accountant in your country.
Many details depend on which country you are resident now.
In most cases you get the benefit only if you actually relocate to the new country where you wish to incorporate (e.g. Cyprus, Dubai).
If you stay in your own country, then you need to declare everything to your government and probably you need to be able to justifiy why you incorporated a company in another country; also, to keep it legal could be quite an effort. And in many cases you would have to pay taxes on the foreign corporate income in the country where you︀ reside.
You can read many posts on this forum about CFC, economic substance, etc. or︁ arrange a chat with an accountant in your country.
This is the best advice in here...
Just buy SP500 ETFs - tickers like SPY or VOO and forget about it...
Average returns SP500 since introduction are about 11% per year since introduction taking account all market crashes, or about 16%/year for the past 10 years.
Don't buy crypto or gold as it doesn't produce any new value - it's just a "thing".
So "investing" in gold or crypto is actually not investing - it's more "price speculation"... (my opinion)
I mean you can invest some of the money in gold/crypto︀ if you like - but not all to leverage your risks...
The 5-10% would be︁ fine I guess in today's terms.
Making money is all about creating new value and︂ that's what the companies do...
Nobody does that better than biggest 500 companies in the︃ US (SP500). If all of these fail - the US will fail too.
Warren Buffet︄ usually says "Never bet against America". This has proven to be true so far...
Setting up a company could cost you $5 - $15k plus annual expenses.
To do that︅ to protect $65k is not worth it and makes no sense.
Also, if you're into︆ real estate you could invest in a REIT like Realty Income Corporation - the ticker︇ is just "O" (one letter).
This company pays out monthly dividends for last 50 years!︈
So investing a 65k would bring you about $250/month or about $3k/year in dividends.
You could take that money each month and spend it or reinvest it back.
The performance︉ is not as good as with SP500 but it can make you a monthly cash︊ flow (in case you need it).
Just buy SP500 ETFs - tickers like SPY or VOO and forget about it...
Average returns SP500 since introduction are about 11% per year since introduction taking account all market crashes, or about 16%/year for the past 10 years.
Don't buy crypto or gold as it doesn't produce any new value - it's just a "thing".
So "investing" in gold or crypto is actually not investing - it's more "price speculation"... (my opinion)
I mean you can invest some of the money in gold/crypto︀ if you like - but not all to leverage your risks...
The 5-10% would be︁ fine I guess in today's terms.
Making money is all about creating new value and︂ that's what the companies do...
Nobody does that better than biggest 500 companies in the︃ US (SP500). If all of these fail - the US will fail too.
Warren Buffet︄ usually says "Never bet against America". This has proven to be true so far...
Setting up a company could cost you $5 - $15k plus annual expenses.
To do that︅ to protect $65k is not worth it and makes no sense.
Also, if you're into︆ real estate you could invest in a REIT like Realty Income Corporation - the ticker︇ is just "O" (one letter).
This company pays out monthly dividends for last 50 years!︈
So investing a 65k would bring you about $250/month or about $3k/year in dividends.
You could take that money each month and spend it or reinvest it back.
The performance︉ is not as good as with SP500 but it can make you a monthly cash︊ flow (in case you need it).
Offshore incorporation without moving to another country will most likely not do anything positive for you. On the contrary. If your shady government finds out, you might be in bigger trouble then you could have ever imagined.
You may setup a company in Switzerland, Liechtenstein or some similar non EU places where you still can get some sort of security depending on which country your are a citizen of.
I have seen a lot of talk lately about the mentioned countries which got my attention after all.
I have seen a lot of talk lately about the mentioned countries which got my attention after all.
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