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PickleRick

Life after XRP: How to Make Your Money, Make You Money.

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Um, I hate to be...........that guy.  But, $ is to be spent, not saved.  I will make sure I die broke and leave nothing behind.  My son will obviously be set up.  But, other than the next generations, I don't care about them.  That will be up to my son to take on that burden.  Spend spend spend baby!!!!!!!!!!!!!!!  But, it's easy for me to say that as I own a company that is bringing in residual income for the rest of my life, so my company is my retirement.  If I decide to sell it, great, I'll just dump $250k into XRP and let it ride. 

Edited by txferrari

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10 minutes ago, CarloRossi said:

Wish i had someone with @teddybear's skills as my financial adviser

Still it's probably 1-2 years before i need one.... maybe  -  difficult to know when to pull some out
 

Managing your own money has everything to do with your personality. If you are a big spender who can't control themselves then definitely get a financial advisor.

If you are conservative and use your head on every purchase and develop sound goals on how to grow your money, it is pretty simple to do it yourself with 3 to 6 months of in depth research. 

No matter which personality you have, a very good accountant is of the utmost importance at the very least. No multimillionaire I have ever come in contact with uses TurboTax lol. Have a guy that handles that. 

Edited by Guest

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2 hours ago, Hodlezerper said:

For the love of god don’t manage your own money unless you’re an expert.

Ignorance of complex tax laws alone will degrade your wealth. 

Take a small portion of profit and start to dip your toes in. Reality is much different than the ideas we create in our minds. 

Don’t convince yourself you’re smarter than you are because you stumbled across one of the easiest buys in our era. XRP is a freaking unicorn. 

The rest of the world will not be this way.

Be humble. Learn.

 

great advice, thanks 

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3 minutes ago, Noovy said:

Dividend ETF and high quality bond ETF from iShares. Generate passive income...

Vanguard is better .. lowest fees

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4 minutes ago, bruce21b said:

the first thing i'm going to do is hire a private investigator to find the guy who beat my wife with and "ugly stick".......don't ever marry an ugly woman, fellas.....it sucks the life right out of you.....

haha.  that's messed up. Fortunately, I don't have that problem. Sometimes I wish I did tho.  Well, yea.............sometimes.

Jenandamythanksgiving.jpg

Edited by txferrari

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On 12/30/2017 at 4:54 PM, xrpsailor1 said:

I plan to use it to start a business. The new tax plan gets rid of the alternative minimum tax. This allows you to build taxable losses through non cash expenses (depreciation) in real estate. I will use this to reduce my tax liability on XRP profits to zero. I will start a private equity real estate firm over the next 7 months. I will then use the removal of the alternative minimum tax to help my doctor friends make bank while creating taxable losses for them to offset their massive ordinary income. 

My goal long term is to privitize as much of the government as I can because it is a complete drag on society.

Finance degree, work as a real estate developer, have studied tax avoidance since I was a wee lad

 

Teach me sensai.  Real Estate degree, but ended up a corporate attorney. Would love to venture into real estate with XRP proceeds.  I’ve been browsing Loopnet a lot lately.

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This is quite optimistic. I think the people holding are not in it to reinvest or to learn about a new investment sector. You want to pull out once and live life, not gamble it away. Maybe if you want to repeat the process, put $1k each into three altcoins under 50 cents or so. Hope that altcoins are still relevant by then. For me crypto is my first investment and it's attractive because I can do it on my own.

Edited by TreeLine

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24 minutes ago, gbrgba said:

Teach me sensai.  Real Estate degree, but ended up a corporate attorney. Would love to venture into real estate with XRP proceeds.  I’ve been browsing Loopnet a lot lately.

If you are interested I have a really good PDF that explains how to maximize the tax benefits of real estate. You can PM me your email or I can put it in dropbox and pm you the link? Depending on what tax bracket you are in, the tax benefits can add another 3-10% to real estate returns. 

EDIT: i realized others may be interested: just google "millionaire tax strategies for real estate investors albert aiello"

Edited by xrpsailor1

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Personally, I'm a simple man.  I could make living in a cardboard box work and be comfortable doing so.  I plan to invest the bulk of the money for a steady and safe 4-6% annual return once I cash out.  Probably with Vanguard.  If XRP ever sees valuation about $100, then I doubt I could even spend all of the 4-6% that I'd be expected to live off of per year unless I was buying really stupid ****.  I'd also take a close look at real estate opportunities in San Diego and Boston - both exploding tech towns with similar pricing today that should come close to doubling in value over the next 10 years.  Austin/Dallas/Houston offer much cheaper, but equally growing markets that shouldn't slow down any time soon as well.

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