SE ND | IN555 - 11/25/2022 06:39
Yep that would be nice to be one of those heirs!! Now lets say they didn't need that income they could pay the roughly 400k tax each year and invest the rest. Or better yet as Boone suggested they could use a tax deferred annuity and earn 5% on uncle sams money. Take that 400k times several years times 5% and that is a lot of interest earned on uncle sams money. Its highly unlikely that a future tax bracket change would off set the earnings of the deferment. I only chimed in because I thought it was comical to argue with someone of Boone's knowledge but most importantly to argue with him about his own personal finances just doesn't make any sense. If your going to pick a fight its a lot easier if you don't pick out the toughest guy in the room.
Boone is a 'wealth' of knowledge and I really enjoy and appreciate his insights here and in other forums. What really makes someone knowledgeable is actually being challenged regarding what they proclaim to know. If someone who I feel has a good grasp of a topic, contacts me asking about markets or some other field I tend to use that as an opportunity to "check my work." You might not want to fight the toughest/smartest guy in the room but you definitely want to talk with him.
Edited by NoDakFarmer 11/25/2022 21:16
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Hey 555 take a look at this.
