I wanna move out of the US but there's not a lot of other countries more libertarian. Friggin Andora? Portugal? I just want to not pay tax and also freely eat drugs.
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Just dump what you can of the remainder in an S&P or Nasdaq Index fund & at an approximate 9.8% annual ROI you'd recoup all of that taxed money in less than 7 years.
And of course, if you keep it in for 14 years you'll have 200% of what you had originally made pre-tax.
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im probably gonna be paying close to 50% of my income in taxes after everything's done (self employed, in california, high income). How long will it take me to earn that back?
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If you earned $100,000 & immediately lost half of it to taxes ($50,000), & put the remaining $50k in an S&P 500 index fund like through Vanguard (which has insanely low fees) at approximately 9.8% per year (the average for 90 yrs!) that $50k would become $100k again at year 7.
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Definitely worth trying to establish residence in a state with no income tax (like WA).
