Author Topic: Meet Mr Money Mustache who retired at the age 30  (Read 26493 times)

Liberty

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #50 on: November 24, 2016, 01:04:12 PM »
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TBW

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #51 on: November 24, 2016, 04:28:54 PM »
Huge fan of mmm. That was a great post and I totally agree with him.

Liberty

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #52 on: January 16, 2018, 10:49:09 AM »
Video of MMM chatting with the YNAB guy, kind of goofing around, but fun (you can skip the beginning when they're getting set up):

https://www.youtube.com/watch?v=WFQ8kagqi9Q
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LC

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #53 on: January 16, 2018, 11:58:39 AM »
You can buy your way into Canada as well: http://www.cic.gc.ca/englisH/immigrate/business/investors/index.asp

You need to have $1.6m in net worth and invest $800k in Canada.  It's a fascinating program, the government takes the $800k and invests it into government projects that create jobs.  So in essence you are paying $800k to get in, there is zero return on that money.  You get your money back without interest after five years and three months.

Which is essentially paying $18,800/year for 5 years (or about 100k) for your Canadian citizenship.


For US healthcare, it's crazy expensive if you're not on an employer-sponsored plan. It's absolutely ridiculous. If I was retired or whatnot, and not wealthy, I would not be living here.

I always ask, who is getting rich from all this? Is it the doctors? I don't think so. The government? Doubtful. Insurance/Pharma? Now we're getting warm...
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mrholty

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #54 on: January 16, 2018, 01:27:31 PM »
You can buy your way into Canada as well: http://www.cic.gc.ca/englisH/immigrate/business/investors/index.asp

You need to have $1.6m in net worth and invest $800k in Canada.  It's a fascinating program, the government takes the $800k and invests it into government projects that create jobs.  So in essence you are paying $800k to get in, there is zero return on that money.  You get your money back without interest after five years and three months.

Which is essentially paying $18,800/year for 5 years (or about 100k) for your Canadian citizenship.


For US healthcare, it's crazy expensive if you're not on an employer-sponsored plan. It's absolutely ridiculous. If I was retired or whatnot, and not wealthy, I would not be living here.

I always ask, who is getting rich from all this? Is it the doctors? I don't think so. The government? Doubtful. Insurance/Pharma? Now we're getting warm...

I don't think you absolve blame from a) the bloated hospital staff and b) the doctors.
Around here each private practice has a small lab in the basement and while they are a "seperate company" if you look into it they are owned by the doctors.  They draw blood/something everytime you go in.  The money flows back to the doctors.

My wife is friends with many docs and PACs.  Its strange that it was an issue 15 years ago but has died.  And that is Tort reform.  Estimates are 10%-15% of healthcare costs are due to additional services/tests performed so that doctors don't get sued.  If you ask them privately they will tell you its 2x as much as they run tests when they know its nothing. 

The other one is end of life care.  NPR's Planet Money did a thing on LaCrosse Wi a few years back and have updated it.
https://www.npr.org/sections/money/2016/10/05/496751771/episode-521-the-town-that-loves-death

There should not be this much variability. 
https://www.healthaffairs.org/do/10.1377/hpb20140306.633790/full/

oddballstocks

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #55 on: January 16, 2018, 02:46:18 PM »
You can buy your way into Canada as well: http://www.cic.gc.ca/englisH/immigrate/business/investors/index.asp

You need to have $1.6m in net worth and invest $800k in Canada.  It's a fascinating program, the government takes the $800k and invests it into government projects that create jobs.  So in essence you are paying $800k to get in, there is zero return on that money.  You get your money back without interest after five years and three months.

Which is essentially paying $18,800/year for 5 years (or about 100k) for your Canadian citizenship.


For US healthcare, it's crazy expensive if you're not on an employer-sponsored plan. It's absolutely ridiculous. If I was retired or whatnot, and not wealthy, I would not be living here.

I always ask, who is getting rich from all this? Is it the doctors? I don't think so. The government? Doubtful. Insurance/Pharma? Now we're getting warm...

I have my own plan this year.  To keep things updated, for a family of six in the US:

$960/mo for coverage, with a $3800 deductible and $14k total out of pocket.  I think there's a 20% co-insurance or so.

This isn't terrible at all.  When I was able to buy through a group it was $200 a month, plus a $5k deductible and the company paid $1000 a month on my behalf.  I was able to find something better on my own.

But all of that said.  If you're tapping out on health care that $18k a year is cheap.

Also worth noting.  I've since done some research into this.  The investor visa is ONLY available in Quebec.  Canada suspended it, but Quebec still has it.  For $1.2m USD you can become Canadian and live in Quebec.  Worth considering at least...
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Parsad

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #56 on: January 16, 2018, 02:52:22 PM »
You can buy your way into Canada as well: http://www.cic.gc.ca/englisH/immigrate/business/investors/index.asp

You need to have $1.6m in net worth and invest $800k in Canada.  It's a fascinating program, the government takes the $800k and invests it into government projects that create jobs.  So in essence you are paying $800k to get in, there is zero return on that money.  You get your money back without interest after five years and three months.

Which is essentially paying $18,800/year for 5 years (or about 100k) for your Canadian citizenship.


For US healthcare, it's crazy expensive if you're not on an employer-sponsored plan. It's absolutely ridiculous. If I was retired or whatnot, and not wealthy, I would not be living here.

I always ask, who is getting rich from all this? Is it the doctors? I don't think so. The government? Doubtful. Insurance/Pharma? Now we're getting warm...

I have my own plan this year.  To keep things updated, for a family of six in the US:

$960/mo for coverage, with a $3800 deductible and $14k total out of pocket.  I think there's a 20% co-insurance or so.

This isn't terrible at all.  When I was able to buy through a group it was $200 a month, plus a $5k deductible and the company paid $1000 a month on my behalf.  I was able to find something better on my own.

But all of that said.  If you're tapping out on health care that $18k a year is cheap.

Also worth noting.  I've since done some research into this.  The investor visa is ONLY available in Quebec.  Canada suspended it, but Quebec still has it.  For $1.2m USD you can become Canadian and live in Quebec.  Worth considering at least...

I can't believe how high insurance premiums are in the U.S.  I feel for you guys!

Regarding the investor visa program...the loophole everyone is exploiting is that you can still enter the Quebec program, but you don't have to live in Quebec...you can go anywhere.  Alot of people have been taking advantage of the loophole to move to BC, Alberta or Ontario.  They have not closed that loophole yet...even though they should!  Quebec gets the $1.2M, but other provinces end up footing the bill for the participant.  Cheers!
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Cigarbutt

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #57 on: January 16, 2018, 04:15:27 PM »
Would like to contribute here.
My opinion is that the Immigrant Investor Program is a good one (win/win).
Canada has repealed the Program in 2014 and the province of Quebec has maintained it in parallel.

Common sense and actual studies (which I can supply on demand) show that the receiving territory benefits from the arrival of immigrants who meet the criteria. Applicants must "intend" to settle in Quebec. Applicants come with a relatively large family, are often business oriented and children often get higher education.

The main disadvantages are that the process is relatively long and integration assistance is suboptimal.
I understand that legal assistance may be helpful. Just in case:
http://www.investorimmigrationcanada.com/

I don't understand the 1,2 million quoted above.

In addition, you may want to remember that tax rates in Canada/Quebec are relatively high and quite "progressive". If you are wealthy, the health insurance premiums that richer Americans pay may be a good relative deal.

I hope that everyone is happy where they are but otherwise Quebec welcomes you, especially if you're rich. :)

RichardGibbons

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #58 on: January 16, 2018, 06:52:47 PM »
My opinion is that the Immigrant Investor Program is a good one (win/win).

I'd be interested in the stats that you have that show it's a good one.  From what I have seen, it looks like win/lose.

After five years, people coming in through IIP declare less income than refugees.  One could make the the argument that they're "investing" in houses, but I don't think this is a good thing when most IIPs are settling in two overcrowded cities, helping to push housing prices far out of reach of the median household.  Thus, to me, it seems like investor immigrants are a big net negative.

On the other hand, it seems like refugees and immigrants--who will build a life here, work hard, and contribute to the country--add far more value.

Richard

Cigarbutt

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #59 on: January 16, 2018, 08:16:40 PM »
Not an easy question and there are always two sides to a coin.

The Program was terminated at the federal level because: opinion that it was "cash for citizenship", many stated the Program provided little or no benefit to the host country, the tax issue that you allude to and skyrocketing home prices in certain places. All these reasons are at least partially valid.

The issue obviously has political ramifications.

There are two schools of thought (described in the second link). My take is that, instead of simply repealing the program, it could have been improved (selection criteria to improve the "fit", to include a form of active management (certain provinces have that), etc).

http://www.immigration.ca/inc/uploads/2016/08/Fortin_Paradis-IIP_March_2010.pdf
https://www.brandonu.ca/rdi/files/2014/03/2017.05.24-Slides-Canadian-Entrepreneur-Investor-Immigration.pdf

Note/limitation: The first study does not cover the most recent years.

Final comment: The IIP accounts for a very small portion of immigrants coming to Canada and an often overlooked variable is that, concomitant to their arrival, money "deposited" is channeled into funds lending to small domestic businesses.
« Last Edit: January 16, 2018, 08:30:04 PM by Cigarbutt »