Photography Retirement Trust

[Bob]

Retire in style: Match all spending on photographic equipment with a deposit in a tax deferred account.:ROTFL:
Maybe this is something that Terry could set up.
-bob

 

[Jack]

Great idea Bob, but if I had to match, I wouldn't own half the gear I already own!

 

[TRSmith]

Or, simply buy nothing except "Investment Grade" lenses. After all, it's important to keep your portfolio diversified.

 

[harmsr]

Bob - I hate you for any logic about all of this. We are talking priorities here. MY GEAR always comes first.

What we were talking about yesterday? Oh, yea.

My name is Ray and I'm a gear slut.

 

[cmb_]

. . . retirement . . . ah . . . too logical Bob! I am leaving my wife a list of all my gear (purchase price included) with Guy and Jack's phone numbers attached.

 

[Jack]

. I am leaving my wife a list of all my gear (purchase price included) with Guy and Jack's phone numbers attached.

:ROTFL: :ROTFL: :ROTFL:

 

[Terry]

is this pro bono or do I get to earn some investment management fees to pay for my equipment "needs"?

 

[Bob]

I was thinking 75 bps
That ought to cover it
-bob

 

[Jack]

A far cry off her normal 125!

 

[Terry]

And if I want to go medium format, set it all up as a hedge fund and charge 2 and 20.

 

[Jack]

Usurious!

 

[Terry]

Usurious!

Actually pretty standard - but in many cases standard = usurious!
However, we don't get 75bps on management as we are finding the clients managers and working on their asset allocation not picking stocks. So, even Bob's 75bps is high!

 

[Bob]

I agree when you are picking managers, but not when you are actively managing the investments.
I figure that the fund would be HUGE given all of the cash flowing around here
-bob

 

[Robert Campbell]

I am retired...what should I do?
My equipment fund equivalent gives me a pension of about £1 per annum

 

[Ben Rubinstein]

This is actually a serious question, most of us here are self employed, how many have a financial plan for when we retire?

 

[jonoslack]

I am retired...what should I do?
My equipment fund equivalent gives me a pension of about £1 per annum

Hi Bertie
Don't you have young kids as well?
In which case, you don't need to worry, as you'll have to go back to work when they get to college

Wot's 75bps? (bucks per second?) Sounds cheap to me Terry!

 

[Terry]

Well at 75 bucks per second I could buy a new MF system every week. It is "basis points" 75bps = 0.75% per annum
So, on $1 million you would pay $7,500/year

 

[Robert Campbell]

Hi Bertie
Don't you have young kids as well?
In which case, you don't need to worry, as you'll have to go back to work when they get to college

Jono, they're not so young now; one out of college, two going [hopefully for free] and one wanting somewhere nice in US - not Harvard, but perhaps Brown or Dartmouth...:shocked:

 

[jonoslack]

Hi Terry
Basis points - well, you learn something every day. Of course I don't know anything about this, as I don't have any money!

Bertie
The paint picture was obviously very old then (I thought it looked like film)? It's amazing the wrong impressions you can get!

I've been scanning old film recently, the quality is complete crap, but there are a lot of fun images.

 

[woodyspedden]

. . . retirement . . . ah . . . too logical Bob! I am leaving my wife a list of all my gear (purchase price included) with Guy and Jack's phone numbers attached.

I have done the same. David Farkas who is a great dealer and great friend agreed to help Phyllis liquidate all of this to cash. Now that I have made the plunge into MFDB the reasons become even more profound.

Woody