64
votes
Accepted
How do the rich and wealthy withdraw from accounts without leaving home?
Many services are available to people who are wealthy enough to use private banks. The linked Wikipedia article says:
...banking services (deposit taking and payments), discretionary asset
...
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16
votes
How do the rich and wealthy withdraw from accounts without leaving home?
This is a facility called Home Banking, which banks in some locations offer. You do not necessarily have to be super-rich to use it though.
Kotak Mahindra Bank has been offering it here in India for ...
- 291
8
votes
Billionaires, loans, and tax avoidance
You don't have to be a billionaire to do this. I have a business that is accumulating some money because I pay myself only what I need. Then I decided I wanted to buy something quite expensive. I ...
- 13.4k
7
votes
Why do rich people prefer shares with dividend over bonds?
I don't think rich people will prefer shares(stocks) with dividend or even bonds. Because in both these cases they will need to pay taxes.
I think rich people will prefer non dividend paying , high ...
- 550
5
votes
Billionaires, loans, and tax avoidance
Larry Ellison with a nearly $10B line-of-credit secured by Oracle stock
What I don't understand is how these loan positions get closed out. Are they merely deferring taxes for some number of years, ...
- 50.8k
4
votes
Is it even possible for billionaires to spend their money?
Almost everything you write in the question is nonsensical.
There are no regulations dictating how people spend their money. People can and do buy consumer items worth hundreds of millions of dollars (...
- 34k
3
votes
Why do rich people prefer shares with dividend over bonds?
The question seems to assume that bonds and stocks are nearly perfect substitutes for each other. They are not. They are exposed to different risks (market risk vs. interest rate risk, primarily) and ...
- 15.1k
2
votes
Accepted
Why is Jeff Bezos, and not his initial investor the richest person in the world? How does it work for Jeff Bezos?
And the investors, hence, got the majority share in the company (like
95% or so) and the remaining an be considered to be possessed by Jeff
Bezos (who had little money to contribute in it)
Why would ...
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2
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Why is Jeff Bezos, and not his initial investor the richest person in the world? How does it work for Jeff Bezos?
Consider Jeff Bezos. He was just like anyone else (financially).
Ah, SERIOUSLY? As per wikipedia: His last job pre Amazon "He worked there from 1988 to 1990.[32] He then joined D. E. Shaw & ...
- 11.6k
2
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How do the rich and wealthy withdraw from accounts without leaving home?
Anyone who has that kind of money to blow probably has a CPA with a power of attorney who could provide such a service.
I don't have that kind of money but I do have a CPA with a POA who would gladly ...
1
vote
Accepted
How can increasing the max of SALT deductions from 10kUSD to 72.5kUSD cause an average tax cut of 145kUSD for the top 0.1% earners (>1MUSD) in the US?
The 145kUSD tax cut assumes that the SALT deduction cap is removed, and not increased to 72.5kUSD as Fox News incorrectly wrote.
Source (mirror 1, (mirror 2):
Who would benefit from removing the cap ...
- 11.4k
1
vote
Why do rich people prefer shares with dividend over bonds?
Generally, all securities on the market can be analyzed for their dividends vs growth potential, and this is called Value on the high-dividend end, and Growth on the low-to-no dividend end; of course ...
- 37.8k
Only top scored, non community-wiki answers of a minimum length are eligible