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/biz/ - Business & Finance

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9741052 No.9741052 [Reply] [Original]

I'm 28, I inherited some property from my family that is worth a little over $1 Million.

I hate my job, I work in a restaurant, i'm fat, balding and i'm Asian. My parents are militantly middle class thinkers that think the only way to be happy is to work a job, earn active income be asset rich but cash poor.

I want to make this $1 Million generate enough passive income from investments; I want to go into Private Banking and I plan to move to some SE Asian country (Thailand?) to live in a low-cost environment while letting my dividends reinvest itself for the years.

How feasible is this? I hate my life and I hate to work. I hate my body and I want to spend this freedom to become a healthier better me.

Any advise would be greatly appreciated.

>> No.9741059

Kill your self

>> No.9741083

I'll give you personalized advice for a healthier and better you for 1 BTC.

>> No.9741113

this or chainlink

>> No.9741115

Sell said house and invest in equity market.
Wait 7 years for 1 mill to double then quit the restaurant job and live off the passive income.

>> No.9741140

I’ll do anything for a 1 btc. 22 y/o, virgin Ahole with 6k in hospital bills what’s a guy gotta do, just tell me.

>> No.9741163


Do you think Private Banking is worth it? Because I don't have the experience or time to manage my own wealth and would prefer a professional to do it.

Also, waiting for 7 years is not possible for me. I don't think working another 7 years in my shit job is feasible for my health and my sanity.

Thats why I'm thinking of generating that passive income now, living off 20% of it in a cheap country then reinvesting the other 80%.

>> No.9741209

Don't listen to these autist crypto token bagholders
Couple of pre requisites though
>do you have a trust?
>what kind of "passive income" are you expecting to make?
>what country are you in or did you receive the money in?
You want your money to produce dividends but unless you are you g to just dump it all in index funds, bonds and CDs you need to determine exactly HOW you want to grow your money
You are going to need access to this money obviously for spending purposes and because you can only keep so much money in a bank account, I'd speak with an accountant who can help you keep more of your money and out of Uncle Sam's pocket
Next thing you might want to do is pay off your debt and get a credit card, and use that as your main source of money once your dividends start coming in
Put something in your retirement account and if you must live overseas I would stick to strictly cash purchases
You might think it's a lot of money and in some places it is, but you merd to understand if you are not careful, you'll see that money go up in smoke quick
As for the trust it's anonymous and only you have access to it you go see a lawyer and have him set it up for you

>> No.9741220
File: 6 KB, 249x202, 1527587129202.jpg [View same] [iqdb] [saucenao] [google]

Go all in DERO. Guaranteed investment. Transparent company. Destined for success.

>> No.9741265

Don't do anything you are thinking about.

The dollar is going to implode soon. Take at least 100k and buy gold and silver. Deflationary collapse is coming and the deals will be unimaginable for those that own real money when the currency reset happens.

You are a fucking idiot op like you said... now is the time to protect what you have and not put it in overinflated assets

>> No.9741268

Private Banking is normally reserved for individuals with 5M+, they won't deny your money but after fees are deducted it won't really be much
Also if you don't have relatives in Thailand to stay with while getting your citizenship I'd just stick to staying under the radar by living in the US or wherever you are from until the process is clear
I noticed you said you hate your body or whatever so since you aren't working anymore and provided you only want to live off of 20% (about 180k a year or 12k a month which is a bit too much tbqh)
I'd stick to just getting /fit/ and go to college and get some kind of degree or pursue a hobby that you can monetize in your free time

>> No.9741275

Trust me OP... shave off 10% of that million and buy gold. You will thank me for this very soon.

>> No.9741284


I live in Hong Kong and I'm not an American citizen, so tax for me is not a problem since there is no capital gains or dividends tax here, the only tax we have is 15% capped on active income.

I'm an aggressive investor with a high appetite for risk, so if its not too unrealistic, I would like to have10-15% returns on my investments and generate at least $10,000 a month in passive income; $3000 of which I will use for living, while the rest will be to reinvest.

I am looking to open a private banking account and let a professional manage it for me.

I expect to have the bank take care of all my investments for me, I pocket the $3000, go live in Thailand and the rest of the income is reinvested with the bank.

>> No.9741289

come to vietnam, better than thailand. been here 7years, its great. get

>> No.9741294

Smart shit. You sound like this mining buddy of mine. You will do well

>> No.9741308
File: 3.46 MB, 4128x2322, 1528100388277440155436.jpg [View same] [iqdb] [saucenao] [google]

crypto is absolutely unregulated in vietnam. trade what you want, cash out cash in whatever, nobody cares.
by the way, btc is selling almost 5% - 10% better against VND than usd. because VND is such shitfiatcoin

>> No.9741314

buy an apartment complex live off the rent

>> No.9741486

Its a good plan...buy house and rent out the rooms
Ukraine ia cheap as hell

>> No.9741498

Send $500 to me.

>> No.9741815


what did your mining buddy do? How is he doing now?

>> No.9741852

>Making it
Sorry bro, you lost the genetic lottery. Have fun watching girls of your race flock to whites and other races. Only people worse off than you are pajeets, but that's not saying much.

>> No.9741875
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go all in on LINK

>> No.9742420

OP I can't really help you much with the financial stuff but as a /dietitianfag/ i can help you get fit as fuck

>> No.9742512


>> No.9742577

Sit down with a goddamn spreadsheet and project out earning AFTER FEES AND TAX for hedge funds, mutual funds, and index funds you fucking mongloid. You’re a fat muppet buying into misbegotten mystique thats burned off since the 90s.

You might get 15% with PE - that you can get into with a milly - but like hedge funds they have lockup periods and withdraw restrictions.

>> No.9742640

Got siblings?
Ritchfag willing to see how far you'll go for just 1 BTC

>> No.9742708
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I'd say that's very good advice. And maybe another 5% in BTC. You can see a perfect storm brewing in the world economy right now. They can't kick the can down the road for much longer. Pic related.

>> No.9742724


banker here. 1 million is a joke in private banking and they will buttfuck you with fees for their "service". if you are smart open a schwab brokerage and do a 60% stock/40% bond index fund split. You can spend 4% of the total each year for life.

However you are on biz which is a really bad sign. They are going to tell you to buy magic beans and you will lose it all. Go to reddit for real financial advice.

>> No.9742753
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>if you are smart

The problem, I haven't a clue as to what I am doing. I have absolutely no idea what I am doing but I know with a broad brush what I want.

I'm not in the USA, I am in Hong Kong and some of the local banks here are willing to accept $1 Million.

This $1 Million is my only shot to living the life that I want and I don't want to lose my only ticket to freedom by screwing it up by attempting to invest myself.

>> No.9742786

If you don't know what to do with $1,000,000, you're simply lazy. Go buy a small house somewhere nice, sit at home and invest in the rest. While you're waiting, focus on physical training. Don't to change how you look or you'll just fuck yourself up. Focus on changing how you feel. If you feel fine, then just accept how you look, because the truth is, aside from the first five seconds if meeting you, most people don't give a fuck how you look, they judge based off the vibes they get from you.

>> No.9742817

With $1 million, look into either:

A.). Taking around $20k or less to start a business of some kind that can be largely scaled up and automated/outsourced or is least in a field you care about. You may also want to go to college if there’s a career path you’re truly interested in that requires the degree.

B.). Diversity the fuck out of the rest into about 3-5 different income streams and investments. Pne can be a fairly passive income business like a car wash, vending machine company, or a laundromat. One good one would be to learn how to lend money smartly and carefully via P2P lending sites like Lending Tree, where some loans go bust but overall you can get a steady 7% annual return if you’re careful. If you do that with $300k, that’s $21k a year, which is a good Income in a cheap country. Put another $300k into low risk stuff like bonds and mutual funds. You may also want to consider buying an apartment complex and hiring a management company to maintain it so the income becomes nearly 100% passive and the property holds value, too. With maybe 10% you can go chase riskier investments like crypto for moonshots. What you want is to maintain that wealth so you can keep making it work for you throughout your life. Don’t squander your chance.

>> No.9742861

I worked in private banking. They are not professional and rarely beat the market while charging you high fees.

10-15% means you will have to invest in highly speculative things. You can get 10% on real estate in Europe (renting) in some areas by using leverage but since you have no income thats out of the question.

Realistically only pe/vc can generate you that type of return but the downside is that most pe/vc funds draw in portions (capital calls) and dont have exits in the first couple of years so its hardly reliable income.

To be fair your expectations of a solid 10k passive income per month on 1M dollars is far from realistic.

>> No.9742864


Sit down and write out with a broad brush what you want, then try to make some plans for how to get there. You can use this money in small chunks to bankroll your attempts to get there and feel things out. $1 million in Hong Kong can pay for a lot of attempts and adventures. Just don’t go all in one one thing with $1 million like a dumbass unless you’re damn sure it’s what you really want and you’ll be ok with losing everything if it fails.

Fuck, with that kind of money you can put it in the bank, keep $50k on hand, and just travel around the world to “find yourself” like a hipster/boomer for a year or so while you figure shit or and still have almost a million dollars left. Cheers, anon!

>> No.9742870

1million is definitely enough for a low passive income

>> No.9742889

And to add: fact that you want to earn 10k a month by doing nothing at all with your life kind of makes me doubt you'll be able to hand that money.

To keep it simple for you: buy a modest place for yourself and a few appartments. Get like 2-3k of net rental income per month. With no mortgage its a fine way of life and you can even save up a little.

>> No.9742955

>To be fair your expectations of a solid 10k passive income per month on 1M dollars is far from realistic.

I had a feeling that's too much to ask for. I guess thats just wishful thinking on my part. What is a realistic return that I can expect with 1M?


> 10k a month by doing nothing at all with your life

I am thinking of starting my own business in Japan, my girlfriends family have their own Import/Export business and her mother is interested in me helping out her family business. It's not that I am planning to spend my days scratching my bum, but I view it as freeing up my time towards building something that can contribute more to society.

>buy a modest place for yourself and a few appartments

I live in Hong Kong, it's the most expensive real estate market in the world. So, real estate is out of the question for me. I have the option of buying real estate in Canada, but I don't want to open a can of worms in regards of filing taxes.

>> No.9742960

hey banker
suggesting a 60/40 split and a 4% withdrawal rate for life for someone in their 20s is not very good advice, as the risk of running out is pretty big

OP, stock valuations are high right now so I would myself not go all in right now (I'm ovr 90% cash atm)
but after some correction, a 90/10 100/0 or maybe 80/20 split should be pretty good, actually feel free to leave 1-5% for any "other" investments you like(crypto, gold, p2p lending, teak, etc etc)

then, withdraw no more than 3.5-3.75% from your portfolio if you want to maximize the odds of capital retention through a 60 year period.

t. finance graduate and investor

>> No.9742971

>What is a realistic return that I can expect with 1M?

5-6% before tax

>> No.9742996


This, genuinely this

I traveled for a month around Thailand, didn't really limit my spending... but a lot of beer was drank and I flew across the country a couple of times. I spent in total around $1200 for the whole month. Well worth it

>> No.9743006
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>OP, stock valuations are high right now so I would myself not go all in right now (I'm ovr 90% cash atm)
>but after some correction, a 90/10 100/0 or maybe 80/20 split should be pretty good, actually feel free to leave 1-5% for any "other" investments you like(crypto, gold, p2p lending, teak, etc etc)
>then, withdraw no more than 3.5-3.75% from your portfolio if you want to maximize the odds of capital retention through a 60 year period.

I'm 5 years old. Can't you explain that again please.

>> No.9743032

Please don't put it at the banks.
Buy this, https://en.wikipedia.org/wiki/Tracker_Fund_of_Hong_Kong
and collect 3% a year. Put 100k in ETH.

>> No.9743059

Look at a graph of the Shiller PE and google shit until you understand it. Also google things like ‘nominal vs real rates’ and use fucking excel to plot out your next 60 years.

>if your rate of return is lower than your rate of withdraw you will go broke at some point like the muppet you are

>> No.9743061

>collect 3% a year

Collecting 3% of the dividends or the whole invested amount?

Sorry, I am financially illiterate.

>> No.9743091

You will collect dividends every year. For the tracker fund you will get ~3%. It will be market returns based on Hang Seng's performance. Leave it there and don't touch it. Sure 30k per year isn't much in HK but you know the place and know how to live decently without paying too much

>> No.9743102

Keep some cash, don't go all in. Maybe 100k.
Another 100k in crypto.
The rest in the market.

>> No.9743116

Do not buy any investment-linked products from the insurance companies (AIA etc.). They are out to rip you off.

>> No.9743126

yeah, I will simplify it
the "traditional" retirement/passive income portfolio consists of 2 asset classes, stocks and bonds
normally people talk about 60/40 and 4%, meaning your portfolio is 60% stocks and 40% bonds and you withdraw 4% of your total portfolio per year.
this is based on studies many years ago e.g trinity study, and it is flawed for someone in their 20s in 2018
instead I suggested something like 90/10 --> for example 90% some total stock market etf, 10% bonds and 3.5% withdrawal rate

DESU it is impossible to explain this to someone who knows nothing about it in one biz post, but I suggest you check out this for example
be sure you understand this if you decide to invest on your own, or do as you say and get a private banker or a financial advisor, but be sure to compare these because their fees and performance can vary a lot

sorry but I don't think you can get 10% returns unless you happen to get some of the best fund managers to manage that money or/and you take so high risks you might get BTFO at some point leaving you without money in whatever shithole you are moving to.

>> No.9743148

that is not true
afaik asian girl prefer asian guys as a first preference
in scandinavia where I'm from asian guys also get a lot of white girls these days

isn't it illegal there?

>> No.9743206

>be sure you understand this if you decide to invest on your own, or do as you say and get a private banker or a financial advisor,

Thanks for explaining it to me senpai, I think I have a better idea of what i'm up against.

I still thinking paying a fee at a small loss to myself to have a professional manage my money for me is miles better than saving that cost and BTFO myself 10 years down the line when my CV becomes irrelevant.

>> No.9743209

This guy somehow after all these years believes in private banking and their shitty scammy programs.

If the market crashes in the first 5 years after putting your money in one of those retarded funds you'll be bleeding yourself out with withdrawals. The strategy is completely inviable unless you make enough money to pay your fixed living costs without the investment returns.

Also enjoy your 2% TER for bring in some pooled fund managed by rng primates.

>> No.9743210

This. Everything more is high risk investing. 10% is junkbonds with a high chance of losing it all.

>> No.9743223

5-6% is equity market returns and even that is far from reliable as its more like -20 +9 +12 -5 +13 and so on. Equity investments are high risk, especially if you need withdrawals to live.

>> No.9743230

I would put it into a strongly diversified portfolio of REITS and dividend stocks. Live off the passive income

>> No.9743236

If you can live a good life in thailand on 14k a year just move their as the million will at least keep you going for 50 years.

>> No.9743237

The "professionals" dont give a flying fuck about your money, they charge you enough fees for their annual lambos. If they make a loss they will just send you a letter telling you that and keep charging you every year for the "privilege" of using them. Jesus just read some books on investing, stick to a strategy and you'd do a lot better than some shitty "private" bank product.

>> No.9743246

np fren

I don't believe in them?
I simply said that if someone is completely clueless maybe talking with a financial advisor or wealth manager first is not a bad idea, it is better if they are not associated with a bank. Private banking can work for some but in most cases you should avoid them
I also said i would not put my own money in any funds right now and that I'm 90% cash

>> No.9743260
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Ok so I want to summarize exactly what I want.

>I want to not work 50+ hours a week for a shitty boss

>I want to have enough passive income to be free to live a middle-class lifestyle with enough left to reinvest to hedge against inflation and for it to compound

>I want to relocate to a cheaper country to take advantage of geographical arbitrage(??)

>I just want the money to keep growing but having enough to live off

What makes this plan unfeasable, what makes me a shitty human being for expecting this, and why am I an idiot to expect this?

>> No.9743266

yes, it is called sequence of return risk, which is why I'm personally going to go 90/10 and withdraw the bond portion first completely so that I avoid any situation where the market goes -20 the first year I withdraw

>> No.9743298

With $1 million, you can put it all in a balanced index fund and live from it for the rest of your life. You don't even have to move to a cheap country.

>> No.9743342

You're gonna lose all your money doing some dumb shit
Calling it now

>> No.9743457

no, in fact in Huobi's expo a government official spoke the opening with very kind words to blockchain tech is great. he just warned about make sure we dont leave the old behind and help them understand this new ways. very bullish for vietnam.

>> No.9743727

I like dero as much as the next guy but dude almost made it already he doesn't need a billion dollars

>> No.9743833

A great place to learn how to invest your inheritance is LITERALLY ANYWHERE BUT /BIZ. Do not take any advice from the children on these boards. Run for the hills and go find a financial advisor. These idiots will lose you your fortune.

>> No.9743868

chuck that shit in a couple index funds that will pay you the dividends then travel the world nigga

>> No.9743967

before putting any money anywhere, get the fuck educated.

I'm not even kidding, if your personal happiness for the rest of your life rests upon that money, don't go asking places like /biz/ for advice because you're financially illiterate. become not financially illiterate (honestly it's not that hard) now, discuss options later.

>> No.9743997


Don't quit your job before you figure out what to do. Take your time figuring it out so you don't fuck up.

>> No.9744052

cool, is it tax free there?

>> No.9744055

invest in a mining farm. youll never regret it.

>> No.9744198

Put 10% in a PoS or DPoS project, obviously one that's most profitable and is somewhat of a potential project and live off the staking income. Unless you use that first property as your foothold to enter the property/rental market you can really generate much passive wealth, let alone enough to live off

>> No.9744229

>>I want to have enough passive income to be free to live a middle-class lifestyle with enough left to reinvest to hedge against inflation and for it to compound
Then you need a lot more than $1M desu.

>> No.9744420

Bro you have 1 million dollars, just put it all into blue chips and fuck off to a cheap country.

On shitty returns you'll be taking home 30k at least which is more than enough money to chill in Thailand.

>> No.9744529


How much is needed?

>> No.9744543

tax? whats that :)

>> No.9744640

and import hot bitches

>> No.9744676

Become a link whale. Duh

>> No.9744709

hair transplant

>> No.9744936


Quit your job, invest in yourself, reap the rewards.

If you're unfit as fuck, get meals prepared & hire a PT, if you suck with women, hire a coach, etc. Give yourself a time limit like a year, if you have 1m, you don't need to invest it, you don't need to do ANYTHING, just let it sit in a bank, fix your shit, if a good trade or investment comes to you (let the trade come to you is the advice that comes to mind), otherwise, tend to your garden and be patient.

I made a quarter mil when Trump won the election, I had enough money to quit & not give a fuck about money, instead I continued on with my job and it's the single biggest regret of my life. Had I just quit and continued trading (instead of working and trying to do both, in the process making mistakes that cost literally hundreds of thousands of dollars) I would be a millionaire by now. Guess what happened? Despite losing huge sums of cash I quit my job anyway, and now it's just going to take a little while longer.

What's the worst thing that happens? You quit your job, you somehow lose all your money, you end up fatter & more miserable...then you're just back to working a job anyway. You have bigger issues in your life right now than money anon, fix that shit first. If your job is making you miserable, that is your body telling you to get the fuck out of it. Live life on your terms anon. Best of luck.

>> No.9745305

Get the fuck off of /biz/, this place will only ruin you. That said, I had the same thing happen to me.

This is what you do:
>Liquidate the property.
>Pay off all debts.
>Use 200k to buy and fix a foreclosed house in an area with decent real estate growth.
>Live in that house, sell it when the property matures.
>Pull 100k, keep it in a savings account. Do not touch it. This is your SHTF money.
>Take the remainder and invest with a portfolio management firm. You want one that works for a percentage of the return. Talk to their clients, ask how they do and what percentage return they get on average. A good manager should make you at least 10 percent after everything.
>Reinvest as much as possible each year.

You do this, and you should be starting out making at least 50k a year sitting on your ass doing nothing. This will increase every year. Don't move to SE Asia, it won't make you happier. Use some of your money to get a gym membership and hire a PT.

>> No.9745611

Live normally until the housing bubble pops again and they buy a ton of property to rent out. EZ

>> No.9746043
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>> No.9747101

Give it all to me.