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General Interest > Money Matters
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Setting up an estate to exist in perpetuity
    #26160395 -

So, as I am buying up land, I am trying to  make investment accounts that gain interest for each property. The interest should be able to pay for the land's taxes and maintenance (if house). The idea is that the land can pay for itself by being tethered to the investment account and thus exist "forever."

Let's discuss. How do we set these accounts up. I am just learning.


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TRUMP 2020

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Re: Setting up an estate to exist in perpetuity [Re: XUL]
    #26160409 -

Xul I like your style, we have similar plans. I am also just learning

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Re: Setting up an estate to exist in perpetuity [Re: Thesunbeam]
    #26175182 -

Now this is a thread worth following.


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"Real knowledge is to know the extent of one’s ignorance." — Confucius

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Re: Setting up an estate to exist in perpetuity [Re: Loaded Shaman]
    #26175217 -

Property taxes are set annually by the city or county. There is no guarantee what the rate might be in the future. It is the same dilemma with 401K contributions, because it is unknown what personal income tax rates will be in the future. Any government could come in at any point in the next 50 years and change it significantly.



Generally though, I'd probably consider making a bond ladder for your estimated expenses. Even though bonds are paying like 1.5%, and it's very possible they fall to 0% in the near future.


https://investinganswers.com/dictionary/b/bond-ladder
Quote:
A bond ladder is an investment strategy whereby an investor staggers the maturity of the bonds in his/her portfolio so that the bond proceeds mature and can be reinvested at regular intervals.



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I was pessimistic in my youth. Now I can just follow the Toronto Raptors.

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Re: Setting up an estate to exist in perpetuity [Re: Ole Field Trashe]
    #26189641 -

What are the other options too?

I am not so well versed in this.

How did you learn so well?


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TRUMP 2020

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Re: Setting up an estate to exist in perpetuity [Re: XUL]
    #26193783 -

Isn't the point of owning the land that it can generate income for you? If it requires external money to keep it going then it's a net negative.

Or you're thinking of living, being self-sufficient on it?

I'd say probably the way to do what you want is to have a second estate which you rent out. The rental income of one estate should be enough to pay the taxes for both estates, pretty much regardless of what happens with inflation/the economy - you'll be fine unless taxes exceed 50% of the rental value of the property.

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General Interest > Money Matters
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