Should they remove the estate tax or the death tax?

[icedwards]

Originally Posted by Patriam1066 [You must be logged in to view images. Log in or Register.]

Two people married making $60k each saving 40 years in index funds would have more than that

I am worth several multiples of that and am a brown immigrant engineer from Islamistan

I work in wealth management and previously was a tax accountant for a mid-size public accounting firm. Saying something incredibly dumb like "Two people married making $60k each saving 40 years in index funds would have more than that" makes me think you're lying about "I am worth several multiples of that".

[Gatordash]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

I work in wealth management and previously was a tax accountant for a mid-size public accounting firm. Saying something incredibly dumb like "Two people married making $60k each saving 40 years in index funds would have more than that" makes me think you're lying about "I am worth several multiples of that".

Its closer to 7-8 million but add in other assets like homes and the way inflation is going you'd get close. I think a lot more people are affected by estate taxes than you are giving credit for.

[icedwards]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

Its closer to 7-8 million but add in other assets like homes and the way inflation is going you'd get close. I think a lot more people are affected by estate taxes than you are giving credit for.

Alright.

$120,000 a year in income taxed at let's say 35% with a conservative $45,000 of expenses a year leaves $33,000 to be invested a year. Compounded at 5% annually, that's a NFA value at year 40 of $3.98 million.

Where are you pulling your numbers out of your ass?

[Jibartik]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

Alright.

$120,000 a year in income taxed at let's say 35% with a conservative $45,000 of expenses a year leaves $33,000 to be invested a year. Compounded at 5% annually, that's a NFA value at year 40 of $3.98 million.

Where are you pulling your numbers out of your ass?

Your cowboy account you put 5k into ETH with and forgot about [You must be logged in to view images. Log in or Register.]

[Gatordash]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

Alright.

$120,000 a year in income taxed at let's say 35% with a conservative $45,000 of expenses a year leaves $33,000 to be invested a year. Compounded at 5% annually, that's a NFA value at year 40 of $3.98 million.

Where are you pulling your numbers out of your ass?

Each spouse contributes 1150/mo at 8%. He said index funds and the S&P returns almost 10%. Over 40 years you'll be closer to 10 than 5.

[icedwards]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

Each spouse contributes 1150/mo at 8%. He said index funds and the S&P returns almost 10%. Over 40 years you'll be closer to 10 than 5.

$7.15 million with your numbers ($27,600 invested annually, 8% return). The historical average annual return for the S&P500 is 7%, so let's not pretend that last years gains are sustainable over a 40 year time frame.

Back to my original point, none of y'all will ever be effected by the estate tax.

(edit: $5.51 million NFA at 7% annual return FYI)

[Gatordash]

Originally Posted by icedwards [You must be logged in to view images. Log in or Register.]

$7.15 million with your numbers ($27,600 invested annually, 8% return). The historical average annual return for the S&P500 is 7%, so let's not pretend that last years gains are sustainable over a 40 year time frame.

Back to my original point, none of y'all will ever be effected by the estate tax.

(edit: $5.51 million NFA at 7% annual return FYI)

Google has it at 8% thru 2018 so it doesn't include the past year. But if this hypothetical situation were to start today then yeah they probably would make fuck all for the next decade with Trump/Biden trying to pass it along to the next. Also I need help in wealth management so let me know if you have any recommendations in Las Vegas.

[Horza]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

I think a lot more people are affected by estate taxes than you are giving credit for.

I wonder why it is you think that.