Author Topic: Meet Mr Money Mustache who retired at the age 30  (Read 23917 times)

rb

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #60 on: January 16, 2018, 08:23:59 PM »
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!
That loophole cannot be closed. We are a free country and freedom of movement is guaranteed by our constitution. Specifically section 6 of the Charter of Rights and Freedoms. We either scrap the program completely or people have the right to live wherever they please.


rb

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #61 on: January 16, 2018, 08:34:48 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...
Or you could apply to come up here as a regular person under the regular immigration program. That'll only cost you a few grand for processing background checks, etc. The difference is that you wait in line for a couple of years. But once you're here you still get the healthcare. We're nice like that. :)

Btw, why wouldn't you live in the US if you were retired? As fat as I know once you hit 65 you go on Medicare and you're on easy street healthcare wise.

Cigarbutt

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #62 on: January 16, 2018, 08:43:34 PM »
"guaranteed by our constitution"
Definition of constitution: the way in which a thing is composed or made up; makeup; composition.
Definition of Constitution: the system of fundamental principles according to which a nation, state, corporation, or the like, is governed.

Isn't it revealing that the former explains the latter?

But then, a quote from Mr Money Mustache:
"A big part of the recipe for a good life is to love the place you live. Although you can compensate for almost any living conditions with a strong Stoic attitude and some training, it sure is nice to be surrounded by an environment that truly agrees with your constitution." (my bold)

Another definition of constitution: the aggregate of a person's physical and psychological characteristics.

RichardGibbons

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #63 on: January 16, 2018, 09:18:48 PM »
Thanks Cigar.  The Fortin-Paradis paper is interesting. I don't actually buy their conclusions because most of their conclusions are derived from a survey of people who are extremely biased to present a particular view, plus they seem to hand-wave away social costs.  (Like, if you think immigration is a key component of the Vancouver bubble, what is the cost of locals not actually being able to afford accommodation in the city? What's the cost of businesses not actually being able to hire employees because it isn't economically feasible to work here when housing prices are so high?)

The other interesting part was the quantification of the value of the 5-year loans the investors provide the government.  If the authors believe these loans were so valuable, I wonder if they'd support the government simply borrowing money on the open market (saving most of the administrative costs of the program, while paying interest), and investing themselves without bothering with the "immigrant investor" part.  It's hard to know from the numbers they provide if this is economical, but I suspect that their number support this sort of centralized economy.

Nevertheless, despite the flaws, it is interesting seeing someone attempt to quantify the value.  I find the tax numbers a far more compelling argument, but I think all those tax numbers came out after this study, so the authors can't be criticized for missing those.

Richard

LC

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #64 on: January 16, 2018, 11:44:35 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...
Or you could apply to come up here as a regular person under the regular immigration program. That'll only cost you a few grand for processing background checks, etc. The difference is that you wait in line for a couple of years. But once you're here you still get the healthcare. We're nice like that. :)

Btw, why wouldn't you live in the US if you were retired? As fat as I know once you hit 65 you go on Medicare and you're on easy street healthcare wise.

Well, my personal situation is unique...I had the (pre-birth, haha) foresight of instructing my grandparents to emigrate to Canada from Italy and have my grandmother give birth to my mother during their 10 year 'layover' in Quebec before moving to New York. Come the great age of 17 I applied for and was granted Canadian citizenship based on my mother's citizenship. It was much more palatable for a 17 year old with no money and no idea wtf to do with his life, to pay $4k/yr for tuition vs. the prevailing rate of $30k/year in the US.

Citizenship is a valuable option. You can take your skills to whichever country provides the most compensation for those skills, and whichever country provides social services when you need them.
"Lethargy bordering on sloth remains the cornerstone of our investment style."
----------------------------------------------------------------------------------------
brk.b | cash

Cigarbutt

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #65 on: January 19, 2018, 05:46:07 PM »
@RichardGibbons
I reviewed this topic.
Thanks for shining a light on my (relatively weak) assumptions and for underlying other key issues.
Live and learn.


Liberty

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #66 on: February 08, 2018, 06:14:11 AM »
New post about installing solar panels on his roof:

http://www.mrmoneymustache.com/2018/02/07/diy-solar-power/
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Liberty

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #67 on: March 09, 2018, 11:46:38 AM »
New post, some interesting thoughts about confidence and insecurity:

http://www.mrmoneymustache.com/2018/03/09/money-and-confidence-are-interchangeable/
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bskptkl

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Re: Meet Mr Money Mustache who retired at the age 30
« Reply #68 on: March 09, 2018, 02:01:03 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...
Would you mind sharing name of insurance company?
My plan is way more expensive than that here in California.
tia

Liberty

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