All Forum Posts by: Daniel McNulty

@Matthew Purvis

Whether you owe Uncle Sam for taxes depends on a number of factors. Starting with whether or not you are even subject to US taxes.

Talk to your accountant, it’s fairly straight forward to ascertain whether you are subject to US taxes.

@Anthony Cuiffo

Put assets in trust. Hire specialty admins to handle management and liquidation over a number of years.

Distribute proceeds over next decade for cash flow and to limit tax liability.

@Keri Carpenter

Retirement is more a budgetary hurdle than anything else. Nail down your inflows and outflows and its a breeze.

It sounds like you may have some questions regarding your Real Estate inflows over long periods of time? Lots of people here have done just that, just search the forums or ask a more specific question if you have one.

@Zach D.

The simple answer is no, people stop contributing towards investment accounts and begin to live off of the wealth they have accumulated.

In reality it’s more complicated than that. Many people have years and months where they make far more than they need and then reinvest it.

The general idea of financial independence / retirement is that you do not HAVE to keep contributing to your wealth. You may choose to, but you should not HAVE to.

@Jennie Berger

Going rate depends on the amount, but the baseline is normally 1%.

@Adam Oldham

Yes. He runs a Airbnb Mgmt service too. Should be exactly what you are looking for.

@Anthony Schimmoeller

@Adam Oldham

Circlecitytraveler.com

Jim is top notch. You won’t regret it.

@Cathy Malmrose

What else do you do besides work? Retiring or slowing down can cause an identity crisis for those who don’t have plans for the next chapter of life.

@Leon G.

An irrevocable trust is unlikely to be better unless your other investments are quite large.

From a tax standpoint, the irrevocable trust is likely not what you want. More over, changing the beneficiaries of it, should you get married and have children, would depend on your brother agreeing to give it all back.

The definite nature of an irrevocable trust rarely makes sense when the nature of your future is not so definite.

While your assets would certainly be protected from your tenants, it may cause more harm than good.

@Cathy Malmrose

Similar to Joes advice above, this community as well as specific Reddit communities have been quite helpful.

You would be surprised how much support you get from like minded people.