Ok but that's true of any asset other than cold, hard cash. You can't exchange your stock or bond certificate for groceries!home equity isn't an asset unless you release it
Sure but they could downsize to a more appropriate property (and would be incentivised to do so if we had a property tax that was in line with international norms). Their heirs would certainly consider their homes to be assets!in other words, all those old ladies or gents in a €1.5m house but living on a small pension aren't millionaires, as they'll never downsize to a €400k two bed ground floor apartment down the street.
That looks very like the definition of an "accredited investor" in the US. Basically, the US rules assume that if you have $1million in investable assets, you are to be trusted to make your own financial decisions and can invest in private funds that haven't been vetted by the SEC.'Official measure' would be any of the notable global wealth reports - for example they would define a 'millionaire' as someone with €1m of investable assets, minus liabilities, and excluding the PPR.
I assume that is interest less DIRT. So you can spend something like 0.20% of your capital every year.My golden rule is - dont spend capital, only spend the interest or income on your capital.
You must be going way out the risk curve to achieve anything like that kind of net yield in the current environment.I am averaging 4% nett yield p.a.
If retiring at 50, would they still not pay tax on the 48k? I thought taxfree retirement income only came at 65+?Two people with no debts should be able to live comfortably on €48,000 a year. On that income, split between two people, you will pay almost no tax. You should have a take home income of around €850 a week.
You always have income tax to pay, even over 65. There are bigger exemptions for over 65s, that’s all (I think it’s 18€k for singles and €36k for married couples).If retiring at 50, would they still not pay tax on the 48k? I thought taxfree retirement income only came at 65+?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?