Made $1 M on Doge. I’m 33 years old, is this enough to retire in PR?
Congrats. Sell. It’s a dinosaur coin now. Find the next up and coming alt and put that 1M to work again
I don't think Doge lost it's shine, just that I grew up lower middle class and a million will give me some stability.
Completely depends on where you live in PR. Not enough for San Juan unless you are looking at a studio or 1BR with a low HOA. Make sure you look into health care. 33 is young but 60 will come one day and you will need health insurance and a supporting infrastructure.
Any recommendations? If you know the territory well.
Don’t forget to make quarterly estimated tax payments or you’ll get a nasty surprise next April
PR is tax free.
you mean puerto rico capital gains tax is 0? What about Federal? Also I check puerto rico: Long-term capital gains are subject to a special tax rate of 15%. What about like: moving to Singapore or Thailand in Nov or Dec, and then sell the following March, and perhaps come back to the US next year. Then for the state tax it is tax free?
You can retire at $5M
Convert them into Bitcoin and watch it grow even more. Bitcoin just completed its halving so bull market is guaranteed in the long-term
I'm planning to stay out for sometime. Including Doge gains, I have total $1.5 M in cash, will come back when I'm less burnt out. It's been a pretty crazy year, that's why I sold Doge early.
Since you sold doge, you need to pay tax. Isn’t it? Or you swapped it via metamask or using some defi platform?
Safe withdrawal rate on 1M would be about 40k a year, so probably not. Invest it and keep working for a few more years.
Makes sense!
You'd have to live frugally, but you can can definitely live off $40k per year in PR.
you need 10M min
In PR, I can rent a 2 bedroom luxury apartment close to beach for $1000 and with a 10 percent annual return - retirement is feasible, not in mainland US though. I'm planning to build a crypto startup there so hopeful to make money in near future.
single or nah?
Single.
dm
yeah but don't retire in PR, it's a dumb idea
For now, I want to sell my coins and invest - PR is tax free for capital gains for US citizens. My other options is to create a trust but that's a lot of headache.
Please sell and cash it out before it falls. Congrats on the w and invest it well.
Yes, I just sold.
Excellent! Have fun with it buddy