10 years ago, I graduated Uni with no debt and about $1,000 net worth.

My first job (engineer) paid $100k/yr. After taxes & expenses, I saved $70k per year for 3 years.

With $200k net worth, I lived on $5k per year and for the past 7 years, I worked only 30% of the time – just enough to cover my expenses without dipping into my savings.

This year I sold bitcoin (bought for $7,000. sold for $1,000,000). My target to retire-retire was $800,000, so I’ve finally reached my goal.

The sell orders executed so fast that I don’t know where to put it. I already stuffed every US bank that I have to the $250k FDIC max, but my last sell order exceeds that. I’ve applied to open bank accounts with maybe 100 banks in the US, and I’ve only succeeded in opening 1. My requirements:

[1] No monthly fees
[2] No inactivity fees
[3] No phone or phone number required
[4] Online Banking with 2FA support (TOTP, Webauthn, or email)

99% of the banks that I’ve tried to open with auto-deny me. My credit is great. When I call and ask why, they say something about the information I gave them not matching their records. The ones that have an appeal process told me “the system” denied me, and there’s nothing they can do – even supervisors.

My long-term plan is to buy a small condo in a city and a lot of land in the country. But it’ll probably take me 6-24 months to find and finish those deals, and in the meantime I want to keep my money somewhere safe.

I’m also a bit worried about the USD tanking. I’ve looked into banks in Europe and Canada, but Canada requires a tax ID and I only speak English. Can anyone recommend a very stable bank abroad (with English language support) that a US American can open remotely that meets the above requirements?

Where would you put your money if you were in my situation?

  • Uncurious3512@lemmy.worldEnglish
    14·
    1 day ago

    To all of you in the comments who are trying to give OP advice, thank you.

    To OP, I’m sure you aren’t doing it intentionally, but you’re getting some great free advice from internet strangers, but your responses are coming off condescending and unappreciative.

    To eco some of the others:

    • Get a tax accountant to help you plan for tax time. The cost is minimal and the savings could be impactful.
    • Invest the portion that you are not going to spend on taxes or the condo. You said you don’t like Vanguard. Okay. Fidelity has a great mutual fund search tool that allows you to filter for other traits such a sustainability. Yields may be lower, but you do you.
    • Look into finding a fee only financial fiduciary to help you come up with an investment and retirement plan.
    • If you graduated Uni 10 years ago, I assume you are still young and are in your prime earning years / future life events (spouse, kids, etc) may alter your expenses. You may want to consider staying in the job market in some capacity until you’re positive the income or skills are no longer needed.

    Or ignore. It’s your life. Congrats on the windfall and kudos on keeping your expenses so low. Best of luck!

    • throwaway92937OPEnglish
      2·
      15 hours ago

      Sorry, I do appreciate advice in general – but I do not take kindly to people who tell me to invest in mass murder and genocide.

      Too often in these spaces do people take that in stride; we need a culture that condemns such advice. It’s not okay to invest in companies like Lockheed or UnitedHealtcare.

    • throwaway92937OPEnglish
      2·
      15 hours ago

      Thanks. Is a tax accountant different than a CPA? That’s definitely my priority now.

      I’m still waiting for them to pencil me into a meeting, but so far it looks like three’s not much I can do to reduce my capital gains tax burden.