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Does anybody know if you can switch employer on sponsorship?from outside UK
My situation:I have filled visa and waiting for it from few weeks with company A and don’t want to join then because I have better offer from company B. Company B wants me to withdraw my visa application so they can file a new one for me and they r telling me they can’t generate my CoS until I withdraw application.How shall I withdraw my visa until I don’t even have CoS from company B??
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You might do well to see a one time financial advisor. 4% rule is for a 30 yr retirement and you are also not accounting for inflation, but you do have more than enough to retire.
genuine Q so dont flame on me bruhhs……for everyone that is saying $3M is not gonna be enough and the OP is toast, how much would say he needs at 44 at his level of current spending?
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Consultant 1, the 4% rule was derived from historical data on stock and bond portfolios over thirty year periods. Demand accounts ("cash") have much lower returns over long periods historically and are not considered good long term investments.
In historical US data, a 4% starting WR with inflation adjusted withdrawals from a 100% cash portfolio has depleted every single time.
Buy gold and silver coins with a few hundred thousand dollars. Gold stays at the same buying power historically and it has more than doubled in the last 3 years. Silver tripled in the last year, too; but that might have been a fluke. But they both can be classified as a retirement fund for tax purposes.
Thanks everyone that answered my actual question. Appreciate it. I will look into them.
For those that doubt that my savings will not last. Ive done enough research and actually lived a year without working to see what itll cost me in retirement and I think Ill be fine on $3M.
In short, for reference, 4% interest on $3M is $120,000. Net of taxes will be around $65k on the conservative side. Thats 3 times the average annual pretax salary in my birth country. Most concernd is healthcare cost and I have planned around that. Its cost me about $7000 for the year for insurance during my one year of "retirement". Coverage was excellent. Broke my pinky and had surgery with a 1 night stay and my out of pocket cost was $120. Excellent service and affordable.
I own a condo in a gated community with 3 pools so no rental expense. My recurring monthly expenses would be the HOA fee of $220, utilities average $150 and health insurance $600. Ill cash a car for around $50k and insurance will be around $200/month. Gas around $200/month. Thats $1500/month leaving plenty extra for a great quality of life.
Living on $5k per month is extremely well and wouldnt have to touch the principal at all. Inflation wouldnt eat all the $3M. I plan to spend it all.
SM, I dont get your point. OP, is fine to retire with $3M. She will not out spend that in her life time. So, whats your point? They are not looking to pass their money on or out beat inflation. they are looking to spend it all at the expenses that they have its impossible to spend it even with inflation. at their rate they will probably have $1M to $2M left to donate at end of life and thats being aggressive with later on with healthcare.
Just move it to one money mamagement firm with seperate TDA, ROTH, brokerage.
It’s funny that the person from Fidelity Investments says “do your own research”.
Can’t you just put in US Treasury bonds or notes? Aren’t they generally 4-4.5% and super safe? (Less fluctuation?)
One thing to consider, especially if you or your dependents have health problems, is that non-sponsored health insurance plans are complete trash. It’s so bad that it feels like society is saying if you are capable of but aren’t working at a young age, you should die faster. The best plan money could buy for my spouse and I was an EPO with a $18k deductible for $1.5k/mo (PPO isn’t offered). The alternative were HMOs with awful reviews. We are healthy and have a lot in savings, but it only takes one large health issue and a dropped insurance to get into problems.
The loophole we are working on for this is setting up and LLC with a part time employee (can’t be your spouse) tied to it and paying them + their insurance so we can qualify for small business PPO. We are also looking to be come dual citizens with a country that has decent socialized healthcare or cheaper but good healthcare.
Think of investing in tax free buckets so that you do not have to pay any taxes on the returns. make use of IRC 7702 tax code.
Why would someone with a net worth at 44 of $3M want to live like a pauper?
OK...so maybe to be able to retire, but I think few people who are used to the likely level of comfort that someone who has accumulated that much would want to live on the bank-interest-over-inflation of $3M (which is probably about 1% or $30K/year).
Said nothing about living like a pauper. You obviously have not traveled to know the purchasing power of a $1 outside of the u.s. For $25k where i will retire is living better than someone making $100k anywhere in the u.s. Like I said i spent 1 year living overseas to test retirement and spent less than $40k and had a very high quality of life. That covered house cleaning services 3 times a week, best healthcare, 24 hr access to a gym with 3 pools, one being rooftop infinity pool, and eating out at least once per day. If i wanted a full time personal chef thats $400/momth.
You can avoid that by using a cash sweep program at firms like Fidelity Investments or Charles Schwab → they spread your money across banks automatically (one account, full coverage)
Or use U.S. Treasuries via TreasuryDirect → no FDIC limits, very safe, similar yields
Bottom line: One account is possible—use a sweep program or Treasuries. I can help you on it
Thank you. Will look into it.