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About Smaug

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  • Location Frankfurt am Main
  • Nationality Spain
  • Hometown Madrid
  • Gender Not Telling
  1. Berlin to get a Tesla Gigafactory

      Probably from abroad. Imported from countries with nuclear power stations (France)?
  2. Health insurance costs during early retirement

      I thought you only had to do that for a month, not a full year.  
  3. Health insurance costs during early retirement

      Absolutely typical [for private insurance agents to lead foreigners up the garden path]. Plan to switch to public (hard to do in most cases) or retire somewhere else. That's what I'll have to do. It's too expensive in Germany.
  4. Health insurance costs during early retirement

      I bet the salesperson who sold him private insurance didn't mention all the disadvantages of choosing that route. 
  5. Inheritance of a joint account

    @catjones @BethAnnBitt Re trusts, in which country/countries? My understanding is that Germany doesn't offer or recognize trusts. Can a trust own German real estate for example?
  6. Tax on interest earned in German bank/s

      Capital income is always taxed at 25% (approximately, actually it's a little bit more than that but let's not go there). This includes capital gains, interest and dividends.   Other income, such as from employment, self-employment and rental income is taxed at a variable rate.   If you only have capital income the graph is not applicable; you just pay no tax for all the income under your personal taxable allowance (€9,000 or thereabouts) and the rest is taxed at 25%.   So yes, if your income is sufficiently high you pay less tax as someone who just lives from passive investments than someone who actually works for wages.    
  7. Inheritance of a joint account

      Can't you find a brokerage that does?    If you sell and take the money a taxable event occurs, whereas if you transfer in kind to a new broker any cap gains remain unrealized and there's nothing to worry about. 
  8. Question about driving licenses

      I'd be worried. If you exchange a UK license for a German one, don't the Germans send your old UK license to Blighty and tell them you've exchanged it? Wouldn't you be accused of fraud if you told the Brits you lost it?   I am only guessing, maybe they put old licenses in the shredder and that's that.
  9. A single tear for the Makler: Provision in the crosshairs

    @Returning All the Makler does is sell the property: show it to potential buyers and lie as much as possible to both potential buyers (to get it sold at the best price) and the seller (in order to secure he doesn't get fired).   1. They don't appraise in my experience. 2. They do advertise, which makes it more convenient for the seller. 3. They do show the property but they don't do any buyer screening. Screening might happen for multi-million properties, but in my experience, there's zero screening for regular residential real estate. 4. Not sure about negotiating. The Makler will try to get the highest price possible because his or her commission is based on a percentage of the price, but it's up to the seller to allow any wiggle-room or not in the price. I don't follow your suggesting that there's a conflict of interest in that Maklers are "representing the buyer and the seller"; they work for the seller. 5. A Makler might be able to suggest builders for renovation if the property needs them, but one must exercise caution when following their advice because they'll lie through their teeth to get the contract signed. Never trust what they tell you.   In my opinion, realtors just take some of the work off the shoulders of the seller, but it's not really worth it.   
  10. Tax on UK pension

      My understanding is that the FA will only know the end-of-year balance of the bank account and any capital income that the account has accrued during the year but no details of account movements. I would assume that the pension payout that Nightstalker is talking about would not be considered as capital income and would not be reported that's why it would have to be mentioned in the tax return. Of course, if the difference between the bank balances reported at the end of 2021 and 2020 (both reported) is much bigger than the capital income generated (also reported) the FA might get curious and ask where the money comes from (the pension payout, which I'd assume doesn't get reported).
  11.   Did you try with a Revolut or with a Transferwise Borderless account? They come with sterling accounts and in my experience when you purchase something intangible online you can just enter a fictitious address (in this case in the UK) and the transaction goes through as long as you approve it in your smart phone. I am not saying this works all the time, but it's worked for me in the past.
  12. Having a USD bank account in Germany

    I have the transferwise borderless. It works well. 
  13. Interesting shaped vegetables - post yours

    All carrots look like Donald Trump to me.
  14. I've just posted a silly photo

      My theory is that she got onto the starship Enterprise and the jump to warp speed caught her breast implants by surprise.
  15. I've just posted a silly photo

    360 cleavage