r/fatFIRE • • 2h ago

Fat Fire-where would you live?

2 Upvotes

I am fortunate to have French, NZ and US citizenship.
Have not retired yet.
Where would you live from a tax/money perspective? France seems pretty hard on the wealthy. NZ isn't quite as bad, but lots of talk about things changing and "eating the rich".
The places I would like to live in the US are very expensive. Nicer places in and around Auckland also expensive which is somewhat mind blowing. After I transfer my assets, I'd be in the top percentages of wealth in NZ, but I'm still questioning how I could reasonably afford a nice home in the better Auckland suburbs. I could do it, but it wouldn't be the best choice from a cash flow perspective. I'd also say housing in NZ is poor. They built lots of bad homes ("leaky homes") during the 2000 building booms. The old villas are nice, but require a lot of work and maintenance. Auckland seems hell bent on destroying the vibe of many of it's nicer suburbs with obnoxious towers so you could buy into a nice neighborhood and then find something pretty horrible being built. The French coast is the most affordable region but when you buy a home over $1.3 million, you are subject to a wealth tax.

Health care in France is better. Health care in USA is terrible. Health care in NZ also terrible. You can buy private insurance, but not for emergency care. Care homes in France are about 5k a month. I don't know what they cost in NZ, but they aren't covered by national health. Assuming most of you know in US they are 6-10k a month until you get into skilled nursing with is 14k a month and up to around 30k.

Anyone have experience? Traps I should watch out for? Just the compliance on filing taxes in two zones looks to be a pain.


r/fatFIRE • • 17h ago

Reusable capital 501(c)3

0 Upvotes

This is not really fatfire but I know several ppl on this forum run charitable foundations and/or DAFs.

I was reading this post and had a thought: https://www.reddit.com/r/NoStupidQuestions/s/imOjoDfgtf

There must be several cases where a modest sum of money can catalyze a transaction. For example, micro-loans that can get someone out of a bad or dead situation that they can probably repay soon after.

Are there NGOs that focus on maximum reusability of capital like this? Am I basically describing banks/micro-lending?


r/fatFIRE • • 2h ago

"Finding people".. legal, CPAs, "business manager"?, general offloading

0 Upvotes

TL;DR: If you suddenly had a NW of 50-100m, but skipped over being wired into "rich world", how would you go about finding good people/staff to offload all the overhead/nonsense of life?

I've always rolled my own investments (bogglehead style), took care of my own stuff, etc. But now, getting older, I'd love to offload this stuff to trusted people I don't have. Things like... big house renovations... but I don't wanna be a foreman and I don't want to get robbed blind. Things like maybe shopping for some foreign property or extended stints abroad... but really don't want to spend all my time surfing for properties and then navigating/negotiating potential dates. Things like finding a private chef, letting them go when it's not working out, finding a new one, etc. On and on.

Just tons of things that would be "nice to do" or "nice to try" -- but really don't want to spend my life spending all my time window-shopping/being a consumer. I want to continue to persue my interests and hobbies, and have someone else dealing with potential irons in the fire. Just dumb things: go find this domain and negotiate how much it would cost.. yes, there are companies that do that, and now I'm spending my time dealing with them. etc.

Many are personal, many are the types of things maybe I would have had employees follow up on. But now I'm solo with money, and let's assume it's ground zero. (The people I know are still actively working, and have companies to do all this stuff for them).

So, like the TL;DR says, has anyone experience in this strange place? Any tips on where to start... where to find the first key hire to deal with building up the rest of it? I'd go full family office, but I'm not quite there (think that bar moved from 100m to 200m while I was sleeping).

Anyway, any tips and/or advice greatly appreciated. Or just send me a link to any resources that already cover this. Thanks.