Which country would you im.igrate if you could work abroad??
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Date: May 25th, 2025 4:59 PM Author: swollen meetinghouse
No, it's more than that. Even a 2% wealth tax is ruinous and makes UMC self-funded retirement essentially impossible.
Suppose you want $150,000 pre-income tax yearly in retirement. At a safe withdrawal rate of 3%, you need a portfolio of $5 million. If there is a wealth tax of 2%, that uses up all but 1% of your safe withdrawal rate, so your new minimum portfolio is $150,000 / 1%, or $15 million. Essentially a 2% wealth tax triples the amount you need to save for retirement.
(http://www.autoadmit.com/thread.php?thread_id=5729556&forum_id=2#48961034)
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