Average NW of users

[wellington]

I see comments on here discussing trusts etc

Might be better to tailor group sections based on user net worth’s so as to ensure the best advice seeps to the correct people opposed to people trying to do things they can’t for various reasons such as costs etc

Also factoring in NWs tailoring in advisories on establishing residence in certain regions/countries etc

Obviously if there is a user base concentrated in a specific NW segment then concentrating the forum on those segments might be beneficial

 

[Sols]

Need a "Less than 0" option for users who have some money in the bank but a massive tax debt looming.

I don't think you need that many tiers.

0–1 million: don't do anything, besides maybe relocating to Malta, Cyprus, UAE, Costa Rica, Panama, and similar low tax jurisdictions that don't require a massive capital investment to live in. If you can't relocate, hire a good tax advisor/accountant to max out deductions and such.

1–20 million: relocate and/or set up a genuine substance for your business. Hire a good tax adviser/lawyer.

20+ million: keep doing what you're doing. Hire a good tax advisor/lawyer if you're still worried about tax. Tax planning for 20 million isn't that different from 200 million or 2 billion. The exact solutions may vary but that's a level of detail best discussed with an individual advisor.

Asset protection has just as much to do with the amount/value as it has to do with threats and risks, types of assets, and more. But once you're over the 20 or so million mark, the solutions aren't all that different (on a high level) most of the time.

But it's hard to quantify net worth for people who run businesses. They might individually not be worth that much run businesses that are still scaling and not paying dividends yet.

 

[wellington]

Tried to update - seemingly can't - can you as a mod?

It's kinda like i read about a Trust idea in one post, and in another a guy thinking about establishing companies for low 6 figures instead of just being non-tax resident etc, think with the plethora of options out there a streamlining guide based on NW/LIQ/CorpVal etc might be a good way to direct people in different directions (might be just me).

 

[Sols]

Tried to update - seemingly can't - can you as a mod?

Changed. I can set it to other tiers, though, if you want.

It's kinda like i read about a Trust idea in one post, and in another a guy thinking about establishing companies for low 6 figures instead of just being non-tax resident etc, think with the plethora of options out there a streamlining guide based on NW/LIQ/CorpVal etc might be a good way to direct people in different directions (might be just me).

I see your point and oftentimes I wish I knew people's net worth or their business' actual turnover/revenue figures. Although capturing an average is interesting, it doesn't make much of a difference in individual threads.

If people respond, I think the average is going to work out to be under 1 million with some sitting at 1–20 million. Whatever the result, it's interesting. But then when JoeSchmoe99 creates a thread, we don't know which category they fit into without asking, unless Joey states in the thread.

So we'll still be telling people barely worth 10,000 USD to form a group company in Malaysia, hire a local director and 2–3 local backoffice workers, for years to come.

 

[KJK]

I think with people with sub 7-digit net worth are wasting time on a forum like this and would be much better off if they just focused on their primary activity - business, trading, crypto, affiliate marketing, whatever...

On the other end, people with 9-digit net worth and higher may lurk here but in the end, they will probably use an advisory firm or a reputable personal contact and won't discuss their details here that much.

So the sweet point for OCT and similar communities is the seven and eight digit range.

 

[daniels27]

I think with people with sub 7-digit net worth are wasting time on a forum like this and would be much better off if they just focused on their primary activity - business, trading, crypto, affiliate marketing, whatever...

They are very numerous here. All those questions from users with less than 5 posts and barley any information are usually from sub 6-digit net worth guys (no, not girls, they usually read other posts before asking and understand what it takes to get a useful answer).

 

[Cloudbanck]

I think with people with sub 7-digit net worth are wasting time on a forum like this and would be much better off if they just focused on their primary activity - business, trading, crypto, affiliate marketing, whatever...

Tax hell countries are making it more and more difficult to leave their tax nets and introducing exit taxes, and like Norway a three year taxation by citizenship period after one moves out.

For young and ambitious people I would actually recommend to move out of one's tax hell country of origin before one has amassed significant net worth, and before one is stuck with a house, wife, children and a dog.
So yeah, sure, focus on your primary activity, but nothing wrong with keeping an eye on the forum.

I moved out of my tax hell country in my 20s after graduating, but before having a family and before setting up a business. That decision saved me from lots of headaches and problems.

 

[wellington]

I moved out of my tax hell country in my 20s after graduating, but before having a family and before setting up a business. That decision saved me from lots of headaches and problems.

I honestly believe had i not moved i'd be stuck in the system, yes a higher earner but stuck like 99%.

Can't say enough if smart-intelligent with skills its essential to leave the West.

 

[12345]

Changed. I can set it to other tiers, though, if you want.


I see your point and oftentimes I wish I knew people's net worth or their business' actual turnover/revenue figures. Although capturing an average is interesting, it doesn't make much of a difference in individual threads.

If people respond, I think the average is going to work out to be under 1 million with some sitting at 1–20 million. Whatever the result, it's interesting. But then when JoeSchmoe99 creates a thread, we don't know which category they fit into without asking, unless Joey states in the thread.

So we'll still be telling people barely worth 10,000 USD to form a group company in Malaysia, hire a local director and 2–3 local backoffice workers, for years to come.

what do you think is the estimated minimal income of a company to be able to start looking for tax avoidance strategies with offshore low tax companies ? Like Tax base erosion, the method nike did in panama papers or something similar. I understand that it comes with high costs of lawyers, accountants, creating substance etc.
Company with a yearly profit of 1-2 m $ in western european tax hell is enough profit or it's still too small considering the costs? Asking out of curiosity

 

[JohnnyDoe]

I am hopelessly worth zero, I am disinherited and I am not even a proletarian.
I make this deposition under penalty of perjury.

Those who are in a better situation might benefit from reading this: Own Nothing, but Control Everything – A Concept That Can Change Your Life

 

[EliasIT]

I don't think you can determine who reads the threads and the information posted here based on how much money they have. Regardless of wealth, everyone should be interested in what's happening in the world and the opportunities they might have missed.

Sometimes it's not just reading a thread that helps; if a creative mind reads it, they might suddenly come up with a thought or idea inspired by what they read, which can be entirely different.

As mentioned a few times over the years, people who underestimate the audience here on OCT are mistaken. Through two personal meetings at airports, I have met people who frequent this forum regularly; they could buy the entire forum for 10 million euros and shut it down without it affecting them at all. These are interesting people with valuable viewpoints about this forum.

You also miss the fact that OCT resembles a movement many wealthy individuals with over 20 million euros follow; they seek peace, protection of their wealth, and want to pay as little tax as possible! They might not find the solutions here and likely have a team of lawyers and accountants, but they feel entertained and enriched by reading the posts on OCT.

This is my opinion, and which category I belong to is irrelevant. I am like most here, I work for fun and only do what suits me, and no one tells me what to do.

 

[jafo]

Sometimes it's not just reading a thread that helps; if a creative mind reads it, they might suddenly come up with a thought or idea inspired by what they read, which can be entirely different.

This man gets it 100%!

 

[sebastian]

Well said @EliasIT by far you're right.

 

[burden]

I fall into the middle class in this survey, and I come here to OCT every day.

There are so many things discussed here that I often find interesting or inspiring. Of course, there are also uninteresting things, which I quickly skip over.