No. of Recommendations: 3
... Bill Gates can't give money away fast enough to keep his fortune from growing.

The Simple Strategy Fueling The Rise Of Bill Gates’s Fortune
https://www.fa-mag.com/news/the-simple-strategy-fueling-the-...

Bill Gates is still in wealth-creation mode.

“We’re not, you know, in some defensive posture where we’re mostly in cash, or anything like that,” the Microsoft Corp. founder said in an interview with Bloomberg Television. “The strategy that’s been used on the investments is to be over 60% in equities.”

That’s helped Gates add $16 billion to his net worth this year, taking his wealth to $106 billion, behind only Jeff Bezos on the Bloomberg Billionaires Index, even as his charitable donations have topped $35 billion.

</snip>


intercst
Print the post Back To Top
No. of Recommendations: 5
<<That’s helped Gates add $16 billion to his net worth this year, taking his wealth to $106 billion, behind only Jeff Bezos on the Bloomberg Billionaires Index, even as his charitable donations have topped $35 billion.

</snip>

intercst>>




Both Seattle investors and business people.


Or perhaps I should say "Washington State", so that interst can identify.

Perhaps the lack of a state income tax explains the attraction of Washington state. Gates moved Microsoft to Seattle from Colorado, and Bezos moved to Washington State to start Amazon.

Taxes, you know. Important!



Seattle Pioneer
Print the post Back To Top
No. of Recommendations: 13
SP analyzes,

Perhaps the lack of a state income tax explains the attraction of Washington state. Gates moved Microsoft to Seattle from Colorado, and Bezos moved to Washington State to start Amazon.

Taxes, you know. Important!

</snip>


Absolutely! Gates mentioned taxes in the article. (Though I suspect not in the way you think. <LOL>)

https://www.fa-mag.com/news/the-simple-strategy-fueling-the-...

That may start to shrink if politicians heed his {Gates'] call for higher taxes.

“I doubt, you know, the U.S. will do a wealth tax but I wouldn’t be against it,” he said in the interview. “The closest thing we have to it is the estate tax. And I’ve been a huge proponent that that should go back to the level of 55% that it was a few decades ago.”

Inequality has become an explosive political issue with America’s richest 0.1% controlling more wealth than at any time since 1929. On Tuesday, the Bill & Melinda Gates Foundation released its annual Goalkeepers report. The study seeks to monitor and aid the progress of the United Nations in achieving in its Sustainable Development Goals, which the foundation says are being hindered by persistent inequality. The report called for greater investment in health care, education and technology to help reduce inequality worldwide.

</snip>


Bill Gates recalls his meeting with the "Dear Leader"
https://www.youtube.com/watch?v=dY7byG1YGwg

intercst
Print the post Back To Top
No. of Recommendations: 6
<<
Perhaps the lack of a state income tax explains the attraction of Washington state. Gates moved Microsoft to Seattle from Colorado, and Bezos moved to Washington State to start Amazon.

Taxes, you know. Important!

</snip>

Absolutely! Gates mentioned taxes in the article. (Though I suspect not in the way you think. <LOL>)>>



So, intercst ---- was it just a coincidence that you moved from Texas, a state without an income tax, to Washington State, another state without an income tax?


Surely a highly numerate engineer and financial planner such as yourself considered that issue carefully!


And it must have been more than a coincidence that you moved to low tax Vancouver, Wa, directly across the Columbia River fro Portland Oregon, a bastion of liberals that featured an income tax.

Sarah Palin once observed that from Alaska, one could get a view of the Soviet Union/Russia. From Vancouver, Wa, you can see Progressive Portland, Oregon. But you chose to move to Vancouver. Surely taxes figured in to that decision?

Isn't being able to live in a low tax area an attractive feature of early retirement? I don't recall you pointing that out.



Seattle Pioneer
Print the post Back To Top
No. of Recommendations: 24
SP asks,

<So, intercst ---- was it just a coincidence that you moved from Texas, a state without an income tax, to Washington State, another state without an income tax?

</snip>

Actually my move to WA State 13 years ago was largely based on two factors.

1) The Pacific Northwest Cascades are objectively a nicer place to live than anywhere in Texas. And the strong environmental regulation in WA State ensures that it stays that way. In Texas, corporations that have bought off the GOP-controlled state legislature can pretty much do what they want in terms of despoiling the State for profit.

2) My sophisticated analysis of the differences in insurance regulation between the two states led me to believe that my health insurance premiums would be far cheaper in WA State. A conclusion confirmed by the 60% drop in my monthly health premium on my move to WA State 13 years ago and the less than $20/year I'm paying for an Obamacare Plan today. There are few states in the union with as consumer-focused insurance regulation than WA State. See link:

https://retireearlyhomepage.com/obamacare_2017.html

3)Taxes were a distant third, which is as they should be. If you're making your financial decisions solely on taxes, you're likely missing something.

intercst
Print the post Back To Top
No. of Recommendations: 3
“The strategy that’s been used on the investments is to be over 60% in equities.”

That's what I keep saying, "buy stocks," not all the other garbage on offer (gold, bonds, treasuries, currencies, real estate, etc.). Make sure you have enough cash to stay liquid.

The Captain
Print the post Back To Top
No. of Recommendations: 3
Gates:"And I’ve been a huge proponent that that should go back to the level of 55% that it was a few decades ago"

Gates will leave 99% of his 50 plus billion to his foundation, probably nearly side stepping the tax man.

He'll likely set up trusts so his kids also go to college and those trusts bypass the taxman.

The 'rich' never pay estate taxes.

It's only the middle class, farmers who try to pass on the family farm, who get shafted by the inheritance tax.

warren Buffet, too, will totally side step the tax man when he dies, leaving all his money to the foundation.

It's amazing that folks like him advocate high tax rates he'll never pay.


t.
Print the post Back To Top
No. of Recommendations: 1
intercst:"The Pacific Northwest Cascades are objectively a nicer place to live than anywhere in Texas. "

well, Houston is not the garden spot of TX. They are now expecting up to 18 inches of rain from a tropical storm.

Some places in WA get 200 -300 days a year of rain, rain, and more rain and even more rain. Not a whole lot but every day is rain........easy to be a weatherman there....forecast for tomorrow is rain, with maybe a few hours when it isn't raining....for the day after - rain.


t.
Print the post Back To Top
No. of Recommendations: 15
Perhaps the lack of a state income tax explains the attraction of Washington state. Gates moved Microsoft to Seattle from Colorado, and Bezos moved to Washington State to start Amazon.

A while back, I posted a list of some of the tech company founder's birthplaces Most of them, like Zuckerberg, and Larry Page were from elsewhere, but moved to California.

Maybe the west coast flourishes because maybe the culture is not as focused on crushing originality and pushing conformity?

Steve
Print the post Back To Top
No. of Recommendations: 2
<<
That's what I keep saying, "buy stocks," not all the other garbage on offer (gold, bonds, treasuries, currencies, real estate, etc.). Make sure you have enough cash to stay liquid.

The Captain>>




That's a good strategy, but incomplete.


The other part is "keep your investments out of the hands of government. Government steals every pot of money it can get it's hands on sooner or later.


Seattle Pioneer
Print the post Back To Top
No. of Recommendations: 0
<<well, Houston is not the garden spot of TX. They are now expecting up to 18 inches of rain from a tropical storm.

Some places in WA get 200 -300 days a year of rain, rain, and more rain and even more rain. Not a whole lot but every day is rain........easy to be a weatherman there....forecast for tomorrow is rain, with maybe a few hours when it isn't raining....for the day after - rain.


t.>>



Heh, heh! That's right! It's TERRIBLE around here when it rains every day!

Better to move to Houston!

Intercst, Go Home! Delaware, wasn't it? LOVELY state!



Seattle Pioneer
Print the post Back To Top