.The Truth About Rvs
.The Truth About Rvs
By Andrew Zaleski Sep 18, 2019, 8:00am EDT
Illustrations by Zack Rosebrugh
“You’re not going to buy an RV and drive it off the lot and have no hassles”
Deep dives on cities, architecture, design, real estate, and urban planning.
In 2018, Tom and Becky Olesh were living their best lives. They lived permanently aboard the Winnebago motorhome they purchased from a dealer for about $140,000. Crisscrossing the country in a house on wheels was nothing new to the Oleshes; they had spent nearly five years on the road.
And for two decades before that, 78-year-old Tom and 61-year-old Becky had owned all kinds of RVs: tag-along travel trailers, towable camper vans, even diesel motorhomes.
Experienced RV owners well acclimated to the lifestyle, the Oleshes knew what they were doing—which made what happened in their brand new Winnebago that much more of a surprise.
“The suspension was really bad,” Tom says. “Whenever we went over 45 miles per hour on a two-lane road, it was a challenge to keep it on the road.”
The Truth About Rvs
By Andrew Zaleski Sep 18, 2019, 8:00am EDT
Illustrations by Zack Rosebrugh
“You’re not going to buy an RV and drive it off the lot and have no hassles”
Deep dives on cities, architecture, design, real estate, and urban planning.
In 2018, Tom and Becky Olesh were living their best lives. They lived permanently aboard the Winnebago motorhome they purchased from a dealer for about $140,000. Crisscrossing the country in a house on wheels was nothing new to the Oleshes; they had spent nearly five years on the road.
And for two decades before that, 78-year-old Tom and 61-year-old Becky had owned all kinds of RVs: tag-along travel trailers, towable camper vans, even diesel motorhomes.
Curbed on campers, RVs, and more:
Experienced RV owners well acclimated to the lifestyle, the Oleshes knew what they were doing—which made what happened in their brand new Winnebago that much more of a surprise.
“The suspension was really bad,” Tom says. “Whenever we went over 45 miles per hour on a two-lane road, it was a challenge to keep it on the road.”
The trailers and camper vans they used to own tended to bounce up and down as they drove, a symptom of their leaf spring suspension systems, which is why they switched to a motorhome.
Tom and Becky anticipated suspension that more closely mirrored that of an automobile: some bouncing, but certainly less than their previous units. Instead, they shelled out $2,500 to outfit their new RV with additional suspension.
The rule, typically, is don’t buy a new RV. If you buy a new RV, you’re going to be sitting in a dealership for two years getting it fixed.
Not since the years before the Great Recession has the market for recreational vehicles in the U.S. been quite as hot as it is now. In 2017, for the first time in more than 40 years—and for the first time since the main industry group, the Recreation Vehicle Industry Association, has kept track—American RV manufacturers moved more than 500,000 units from their factories to the roughly 2,600 RV dealerships across the country.
Since those record-high production numbers, the overall RV market has cooled a bit. More than 482,000 units were sold last year, which is about 20,000 fewer RVs than in 2017, but still well above the fewer than 170,000 RVs being sold at the peak of last decade’s recession.
Despite shipments of RVs to dealers dropping about 20 percent so far this year compared to 2018, industry professionals remain optimistic about growth and predict shipments will increase in 2020.
But as the Oleshes found when they bought a new motorhome, dueling forces are shaping the current RV market. A buoyant economy coupled with rising interest in the nomadic lifestyle led to a rebound in the RV industry.
The comeback is as much due to millennials as it is to a retiring generation of baby boomers: Of 78.8 million households that hit the great outdoors at least once in 2018, the kids routinely blamed for their poor adulting skills and love of fancy toast made up 41 percent of campers.
At the same time, stories abound—in forums, recall blogs, personal testimonies ,industry publications, and talk radio—of disgruntled owners of RVs who purchased a unit only to immediately about-face the vehicle to a dealership to fix a problem.
“I’ve had people tell me they’ve bought a brand-new RV, drove it off the lot in a rainstorm, and it started leaking,” says Steve Lehto, a consumer protection attorney in Michigan who has handled his fair share of lawsuits for owners of allegedly defective RVs. (There are more than 600,000 views of his “Don’t Buy An RV!” YouTube video.) https://www.youtube.com/watch?v=IP_u2JR51_Y
To continue reading, please go to the original article at
https://www.curbed.com/2019/9/18/20870828/rv-camper-repairs-poor-quality
.To Gift or Not to Gift
.To Gift or Not to Gift
By TRACY CRAIG, FELLOW, ACTEC, AEP®, Partner and Chair of Trusts and Estates Group | Mirick O'Connell September 10, 2019
Sometimes it can be wise (or just pleasurable) to give your assets away while you're still alive.
In estate planning, giving away assets during your lifetime has traditionally been used to help lower estate taxes when you die. However, the federal estate tax exemption amount (the amount under which federal estate taxes do not apply) is currently $11.4 million per person and has been increasing each year due to inflation indexing, so federal estate taxes only apply to 0.1% of people.
The federal exemption amount is scheduled to fall to approximately $6 million (when taking into account future estimated increases for inflation) per person in 2026 (unless Congress changes the law), and even then only about 0.2% of people will be affected.
So, while taking action to avoid federal estate taxes is not necessary for over 99% of the population, there are at least three reasons why gifting may still make sense for you and your family:
To Gift or Not to Gift
By TRACY CRAIG, FELLOW, ACTEC, AEP®, Partner and Chair of Trusts and Estates Group | Mirick O'Connell September 10, 2019
Sometimes it can be wise (or just pleasurable) to give your assets away while you're still alive.
In estate planning, giving away assets during your lifetime has traditionally been used to help lower estate taxes when you die. However, the federal estate tax exemption amount (the amount under which federal estate taxes do not apply) is currently $11.4 million per person and has been increasing each year due to inflation indexing, so federal estate taxes only apply to 0.1% of people.
The federal exemption amount is scheduled to fall to approximately $6 million (when taking into account future estimated increases for inflation) per person in 2026 (unless Congress changes the law), and even then only about 0.2% of people will be affected.
So, while taking action to avoid federal estate taxes is not necessary for over 99% of the population, there are at least three reasons why gifting may still make sense for you and your family:
State Estate Taxes Could Be an Issue for You
While federal estate taxes aren’t a problem for the vast majority of people, state estate taxes are another story. Twelve states and the District of Columbia currently have a state estate tax, and their exemptions are much less generous than the federal limits — with some as low as $1 million. (See 9 States with the Scariest Death Taxes.) In those states, gifting can help reduce the state estate tax.
For example, in Massachusetts, lifetime gifts are not subject to the Massachusetts estate tax. As a result, by making gifts, the value of the assets you own when you pass will be reduced, and the state estate tax will be lowered.
However, before giving away assets to reduce state estate taxes (which are often graduated and never exceed a top rate of 20%), you need to keep in mind the issue of unrealized capital gains and what is known as the “step up in basis.” At death the fair market value of most assets (except most notably retirement accounts) becomes the tax basis of those assets.
Because most assets appreciate during life, the basis of assets is said to “step up” to the fair market value, essentially wiping away all potential capital gains taxes. This is true even if your estate is not large enough to pay any federal estate tax.
When you give away assets, instead of a step up in basis there is a carryover basis, meaning the recipient takes your tax basis. That means, if you paid $10 for your stock and it was worth $100 when you gifted it, a recipient who sold the shares would pay taxes on the $90 of gain.
However, if you don’t sell the stock in your lifetime, the cost basis resets to the value of the stock on the day you die. So, for example, if you had low basis stock, it could make sense to hold the stock until you die if the state estate tax would be lower than the potential capital gains taxes if the asset were sold.
An important consideration here is that in some cases capital gain taxes can be imposed at higher rates than state estate taxes. Federal capital gains tax rates are 0%, 15% or 20% depending on your income and filing status.
There’s also state income tax to consider, plus an additional 3.8% Medicare tax for higher income earners. (For example, in Massachusetts — where the state income tax rate is about 5% for individuals in a high income tax bracket — combined capital gains tax rates can equal almost 30%.)
Therefore, while gifting to save on estate taxes is possible, it should be analyzed carefully to make sure you don’t inadvertently expose yourself or your loved ones to capital gains taxes.
To continue reading, please go to the original article at
https://www.kiplinger.com/article/retirement/T021-C032-S014-to-gift-or-not-to-gift.html
.Cheapest U.S. Cities for Early Retirement 2019
.Cheapest U.S. Cities for Early Retirement 2019
By Stacy Rapacon, Online Editor Kiplinger| July 4, 2019
Early retirement can be more than just a daydream for those long Tuesday afternoons at work. With some smart planning, you can make leaving the workforce early a reality. You just have to keep in mind the unique challenges facing early retirees.
First of all, entering retirement at a relatively younger age means needing to stretch your nest egg further (hopefully). One way to do that is to find the right retirement destination for you. That's because where you live makes a big impact on your budget. After all, settling down in a place where the cost of living is below the national average means your retirement savings pack in more purchasing power.
With that in mind, we pinpointed 50 great places in the U.S. for early retirees—one in each state—focusing on living costs, median incomes and poverty rates for residents ages 45 to 64, as well as local tax environments and labor markets (just in case you want a second act to stretch your retirement savings further).
Of our 50 picks, these 31 destinations offer particularly low living costs, which heightens the chances of your money lasting through your extra-long retirement and beyond. The list is ordered alphabetically by state.
Cheapest U.S. Cities for Early Retirement 2019
By Stacy Rapacon, Online Editor Kiplinger| July 4, 2019
Early retirement can be more than just a daydream for those long Tuesday afternoons at work. With some smart planning, you can make leaving the workforce early a reality. You just have to keep in mind the unique challenges facing early retirees.
First of all, entering retirement at a relatively younger age means needing to stretch your nest egg further (hopefully). One way to do that is to find the right retirement destination for you. That's because where you live makes a big impact on your budget. After all, settling down in a place where the cost of living is below the national average means your retirement savings pack in more purchasing power.
With that in mind, we pinpointed 50 great places in the U.S. for early retirees—one in each state—focusing on living costs, median incomes and poverty rates for residents ages 45 to 64, as well as local tax environments and labor markets (just in case you want a second act to stretch your retirement savings further).
Of our 50 picks, these 31 destinations offer particularly low living costs, which heightens the chances of your money lasting through your extra-long retirement and beyond. The list is ordered alphabetically by state.
Huntsville, Ala.
Total Population: 444,908
Share Of Population, Age 45 To 64: 27.8% (U.S.: 26.1%)
Retired Cost Of Living: 5.4% Below The National Average
Median Income, Age 45 To 64: $77,266 (U.S.: $69,909)
State's Retiree Tax Picture: Tax Friendly
As one of the 10 Cheapest States Where You'll Want to Retire, the Heart of Dixie boasts many great spots for affordable living. And Huntsville, in northern Alabama, is one of the best. It offers all the low-cost, low-tax advantages as the rest of the state, but adds more generous household incomes.
Home to NASA's Marshall Space Flight Center, the Redstone Arsenal and the Huntsville campus of the University of Alabama, the city offers a robust economy and a highly educated population.
You can also find plenty of cultural attractions, from a sculpture trail to a symphony orchestra, as well as opportunities for outdoor recreation (think bass fishing). In fact, Alabama at-large offers many of Florida's popular retirement attractions—warm weather, nice beaches and plenty of golf—all at a typically lower price.
To continue reading, please go to the original article at
.13 Reasons You'll Regret an RV in Retirement
.13 Reasons You'll Regret an RV in Retirement
By Bob Niedt, Online Editor | August 27, 2019
Many Dinarians talk about buying an RV and doing a lot of traveling after exchanging their Dinars – Here are some informative tips to give consideration to -- Happy Traveling
As you drive toward retirement, dreams of blue highways are giving you that itch to hit the open road. With the kids grown and no job to tie you down, why not sell the house, buy a recreational vehicle and see the country? You wouldn’t be alone.
Approximately 10 million U.S. households own RVs, according to the RV Industry Association, and roughly 1 million Americans are living full-time in them.
But is an RV in retirement right for you? We spoke with retirees who spend much of their time in recreational vehicles for their guidance on the cons of RV living in retirement. Here’s what they had to say about the downsides of life on the road in an RV.
RVs Are Really Expensive
An RV is a big investment, but before you can even set a budget you need to understand the different options on the market.
13 Reasons You'll Regret an RV in Retirement
By Bob Niedt, Online Editor | August 27, 2019
Many Dinarians talk about buying an RV and doing a lot of traveling after exchanging their Dinars – Here are some informative tips to give consideration to -- Happy Traveling
As you drive toward retirement, dreams of blue highways are giving you that itch to hit the open road. With the kids grown and no job to tie you down, why not sell the house, buy a recreational vehicle and see the country? You wouldn’t be alone.
Approximately 10 million U.S. households own RVs, according to the RV Industry Association, and roughly 1 million Americans are living full-time in them.
But is an RV in retirement right for you? We spoke with retirees who spend much of their time in recreational vehicles for their guidance on the cons of RV living in retirement. Here’s what they had to say about the downsides of life on the road in an RV.
RVs Are Really Expensive
An RV is a big investment, but before you can even set a budget you need to understand the different options on the market.
“RVing introduces you to a whole new language,” says Charley Hannagan, who has been RVing with her husband, Joe, since 2014. “The cars that are towed behind motorhomes are ‘toads.’ ‘Sticks and bricks’ refers to a permanent house. ‘Class A’s’ are the bus-like vehicles, ‘Class B’ are vans, ‘Class C’ are the ones that have a truck cab attached to an RV chassis, and ‘fifth wheels’ are the big ones you see pulled by trucks.”
A trailer that’s hauled behind a truck or SUV is the most affordable way to test-drive RV living. A folding trailer, sometimes called a pop-up trailer, can cost as little as $6,000 and go as high as $30,000, according to pricing estimates from both the RV Industry Association and Consumer Reports.
Conventional travel trailers start around $8,000 but can top $100,000 depending on size and amenities. True fifth-wheel trailers that overlap the truck bed run from $18,000 to $160,000.
And then there are motorhomes, which you drive rather than haul. Type A motorhomes, the heaviest and typically the roomiest, begin at $60,000 and climb above $500,000. Type B and Type C motorhomes, smaller and lighter than Type A’s, cost anywhere from $60,000 to $150,000.
“The cost range is extraordinary,” says Nancy Fasoldt, who has been RVing with her husband, Allen, for 12 years. After retiring in 2007, they bought a new 24.5-foot Navion motorhome for $67,000.
They estimate the same RV would cost $106,000 today. Since then they’ve purchased a used 32-foot Wildcat fifth wheel ($20,000); a new 2016 38-foot Highland Ridge fifth wheel ($26,000 after trade-in); and a used Cirrus truck camper ($19,000) that slides into the bed of their pickup.
You'll Spend Even More Money Updating the Decor
This can be especially true if you buy used, but even new RVs can call for immediate upgrades depending on your tastes.
“The most disappointing thing about buying our RV was the décor,” says Charley Hannagan, who owns a 32-foot Jayco Precept Class A motorhome. “I think of it as 1970s old-age home. It was awful. We spent about $2,000 to buy fabric to re-cover the furniture in fabric I liked, to buy melamine dishes that won't break on the road, organizational stuff and sheepskin covers for the front seats.”
The Hannagan’s redecorating extended to the sleeping quarters as well: “We also replaced the mattress on the bed with one of better quality, another $900.”
Your RV Will Depreciate in Value
You might call it your home, but don’t expect your RV to increase in value over time like many traditional “sticks and bricks” houses do.
“With RVs ranging in price from $60,000 to $600,000, it's hard to compare them to a home that's paid off or near being paid off and find financial benefit,” says Margo Armstrong, who’s been RVing for two decades and writes the RV blog Moving On With Margo.
“RVs also depreciate rapidly; when you add in costs for gas, insurance, upkeep, food and the many other expenses of being on the road, traditional vacationing will likely seem to be a better value for your money.”
So don’t expect to recoup your initial investment. However, there is a market for used RVs, or you can trade in your old RV for a new one to offset the sticker price.
To continue reading, please go to the original article at
.Is Hiring A Coach Worth The Money?
.Is Hiring A Coach Worth The Money?
(And Do I Need One?)
You’re ready to make a significant change or to improve some part of your life. But you’re struggling to do it on your own. You’re finding it challenging to stay on top of “all the things” to know or with motivation or mindset to reach your goal.
Whether the changes we want to make or the goals we want to achieve are related to our health, career, finances, business, relationships, or some other aspects of our lives – we know it takes effort to make progress.
Striving for achievement, we read articles, download apps, buy books, courses, and products. Following blogs, chatting in forums, joining clubs and organizations, and attending conferences are other ways we might try to move closer to our goals.
large post it notes with coaching words being painted on them
Sometimes you find all the information you need and take action without help from others. But you can probably name at least one important goal you haven’t met – even after trying different ways to accomplish it.
Is Hiring A Coach Worth The Money?
(And Do I Need One?)
You’re ready to make a significant change or to improve some part of your life. But you’re struggling to do it on your own. You’re finding it challenging to stay on top of “all the things” to know or with motivation or mindset to reach your goal.
Whether the changes we want to make or the goals we want to achieve are related to our health, career, finances, business, relationships, or some other aspects of our lives – we know it takes effort to make progress.
Striving for achievement, we read articles, download apps, buy books, courses, and products. Following blogs, chatting in forums, joining clubs and organizations, and attending conferences are other ways we might try to move closer to our goals.
large post it notes with coaching words being painted on them
Sometimes you find all the information you need and take action without help from others. But you can probably name at least one important goal you haven’t met – even after trying different ways to accomplish it.
If you suffer from impostor syndrome, are uninspired, would like more guidance, and are ready to move to the next level or make a transformative change, but don’t know where to start -you might consider hiring a coach.
Let’s arm you with some info to help you decide if a coach is right for you. After looking at what a coach does for their client, we’ll dive into:
Why hiring a coach can be a smart decision
When a coach is not the answer
Things to look for in a coach
How to make the most of a coaching experience
What is the Role of a Coach?
Even if you have never played a sport, you know coaches help prepare athletes to meet a goal successfully. The job of a coach is to teach, demonstrate, analyze, encourage, motivate, and more.
Coaches who help you meet life or business goals have a similar role. They ask questions, help you identify goals, work with you to create a plan, and structure a process to assist you in being successful.
But don’t think a coach will tell you what to do and how to do it. You’ll work with your coach rather than being their student. While you’ll learn from them, you’ll be an active participant in the process.
Coaches and clients usually create a short-term arrangement to work together. But the amount of time can vary depending on your goals and the progress you make toward meeting them.
Is Hiring a Coach Worth the Money?
When you can find almost any information you’re looking for on the internet, and with people being able to DIY more things than ever, you might be questioning the value a coach can provide.
If you can save money and try to figure out how to meet your goals yourself, shouldn’t you try that?
While you can certainly work toward your goals on your own, there are several reasons why paying for a coach is worth the money.
Working with a coach can:
Help you discover what’s holding you back and find the motivation to move forward.
Challenge your assumptions; help you find truth and meaning.
Identify ways to capitalize on your strengths and manage your weaknesses.
Increase your awareness and clarity to help you make better decisions.
Clarify your priorities.
Aid you in creating processes and structure.
Keep you focused.
Answer your questions quickly.
Provide you with honest and personalized feedback.
Challenge you to think differently and explore new options.
Help you move out of your comfort zone to make changes and grow.
Make you more accountable.
Support you and boost your confidence.
Improve your work-life balance and relationships.
Help you achieve your goals sooner and set new goals.
Save you time and money!
While we may think we know ourselves well enough to put together our own plan, don’t overlook the knowledge, skills, and experience a good coach brings to the table.
Because a coach can assess your abilities and limitations – real or perceived – from the outside, they can provide suggestions for how to increase, address, or remove them.
Skilled coaches help you laser focus on your specific issues and goals to significantly improve your time to successful change or completion.
To continue reading, please go to the original article at
Updated List of Bank Perks
.TNT:
LC: Updated 7-7-19 List of Bank Perks
DISCLAIMER: Some of these bank perks will be based on the amount you are depositing or the quantity of currency you or your family group have to exchange. I hope this info will be helpful to everyone to negotiate during your bank appointment.
Bank Perks
1. No exchange or spread fees ever for foreign currency exchanges
2. Stability rates for customers holding large amounts of currency (new)
3. Bank Tier 2 long term contracts for qualified depositors (new)
4. IMF humanitarian projects (new)
5. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an overnight high yield interest rate account that will yield a minimum of 1% per month.
6. Family Office Services
7. Perks can be based on AUM (Assets Under Management) in a tier grid
8. Discounts on AUM fees
TNT:
LC: Updated 7-7-19 List of Bank Perks
DISCLAIMER: Some of these bank perks will be based on the amount you are depositing or the quantity of currency you or your family group have to exchange. I hope this info will be helpful to everyone to negotiate during your bank appointment.
Bank Perks
1. No exchange or spread fees ever for foreign currency exchanges
2. Stability rates for customers holding large amounts of currency (new)
3. Bank Tier 2 long term contracts for qualified depositors (new)
4. IMF humanitarian projects (new)
5. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an overnight high yield interest rate account that will yield a minimum of 1% per month.
6. Family Office Services
7. Perks can be based on AUM (Assets Under Management) in a tier grid
8. Discounts on AUM fees
9. No fees ever - no fee to deposit/wire transfer money
10. No Broker fees ever
11. Free Safe Deposit Box, Certified Checks, Notarized, Courier Services
12. Provide Excess Deposit Insurance (i.e. Lloyds of London and/or Travelers)
13. Provide Senior Wealth Managers/Investment Bankers for selection
14. Tax/Business/Estate Attorney & CPA
15. Private transactions representation –assistance in buying a house/car/anything
16. Free Due Diligence Services provided for outside investment opportunities
17. 100% funding availability
18. Unlimited Platinum or Black Visa Signature Debit & Credit Card with no ATM fees
19. Line of Credit available
20. Group Health Insurance - to cover the signers and families of depositors
21. Guarantee 12-15% interest per year on deposits
22. Bank Trading Platforms & Repurchase Agreement Sweep Accounts
23. Short Term/High Yield Interest Rates
24. Assist in opening an offshore bank account with affiliate bank for foreign investments
25. Access to information on great investment opportunities
26. Pre-IPO deals
27. Provide free Executive Privacy Plus subscription with Reputation.com
28. Sports tickets in suites and on the floor (Football, Basketball, Baseball, Boxing, Tennis, Golf, NASCAR & etc.) Also, special events like the Super Bowl, NBA Finals, College Bowls, NCAA Final Four, World Series & the Olympics. Based on AUM in a tier grid
29. Entertainment & Concert tickets in suites and on the floor (Music Concerts, Entertainment Awards Shows, Premier Movie Screenings, TV Show tickets & etc.) Based on AUM in a tier grid
30. Limousine & VIP transportation based on AUM in a tier grid
31. Private Jet Travel (5-25 flight hrs. per mo.) based on AUM in a tier grid on flight hours per month
32. First Class seats/commercial airlines based on AUM in a tier grid
33. Private Yacht access/usage (40 hrs. annually) based on AUM in a tier grid on access/usage hours per year
34. Donations to our favorite charities (Banks matching a certain percentage)
35. Prime seats at charity events
36. Suites at Luxury Hotels & VIP Dinners at Restaurants based on AUM
37. Membership fee & Annual fees to Inspirato Core resorts & residences
38. Membership fee & Annual fees to Exclusive Resorts & Residences for 60 days with Priority Holiday Access annually
39. ClubCorp Private Membership based on AUM
40. Spa & Massage Club Membership based on AUM in a tier grid
41. Concierge Services 24/7 based on AUM
42. Provide a free Vertu Ti cell phone & concierge subscription service for members with $1 million and over AUM
43. Free Family Financial Education provided for group family members
44. Provide any and all other perks that was not mentioned
AUM - Assets Under Management
Global Leader Risk Mitigation & Response
www.Kroll.com
Luxury Destination Clubs
www.Inspirato.com
www.ExclusiveResorts.com
www.Marriott.com/loyalty.mi (new)
Private Business Club
www.ClubCorp.com
.Currency Exchange Checklist and Tips for Banking Appointment
.From Recaps Archives
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Bank appointment for Currency EXCHANGE Instructions/Checklist
Bank Name_________________________________________
Bank 800#__________________________________________
“I am calling to schedule a foreign currency exchange”
My name is___________________________________________
My zip code is__________________
My e-mail address is (If they ask for it)________________________________
I have________________________ IQN/IQD (Iraqi)currency
I have________________________VNN/VND (Vietnamese)currency
I have________________________1000 notes from2000 of IDN (Indonesian)currency
I have_________100Trillion,________50Trillion,_______20Trillionand_______10Trillion
2008 AA notes of ZWN(Zimbabwe)currency
From Recaps Archives
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Bank appointment for Currency EXCHANGE Instructions/Checklist
Bank Name_________________________________________
Bank 800#__________________________________________
“I am calling to schedule a foreign currency exchange”
My name is___________________________________________
My zip code is__________________
My e-mail address is (If they ask for it)________________________________
I have________________________ IQN/IQD (Iraqi)currency
I have________________________VNN/VND (Vietnamese)currency
I have________________________1000 notes from2000 of IDN (Indonesian)currency
I have_________100Trillion,________50Trillion,_______20Trillionand_______10Trillion
2008 AA notes of ZWN(Zimbabwe)currency
FILL IN THE BLANKS for EXCHANGE appointment information that you get from the call
center representative:
Your appointment Information:
Date_________________________
TIME_________________________
The Location____________________
------------
The Day of Your Appointment- Things To Do
1. Make sure you know where you are going. Arrive early so you can “get yourself together, take a deep breath”.
Do not loiter. If you are too early, stay SECURELY in the general area but not in the bank
parking lot!
2. Remember to get in and get the EXCHANGE done, there a lot of other people behind you in line so be thoughtful of their time as well.
You will have time for questions at your second appointment with your new Private Banker/Wealth Manager.
3. Be discrete, be professional, and be alert and aware of your surroundings. BREATHE! Seriously consider hiring security to accompany you to your appointment or bring a trusted friend.
4. Collect business cards from everyone or take their name and phone numbers as well as the location of their regular branch office.
5. Read and Sign the NDA. If it is simple and states you cannot tell anyone except your spouse, lawyer, or CPA (These are the people that need to know how you came about your money for tax purposes) how you came about all of your new found wealth, sign it and move forward with your exchange.
Be prepared to uphold it!
If you break the terms, you could lose your newfound wealth.
If the NDA is more complex and you are not comfortable with it, simply let them know you would like to explore your options with another banking institution. They may or may not waive the NDA.
REMEMBER TO GET A COPY OF THE NDA IF YOU SIGNED IT.
The Day of Your Appointment Things NOT To Do
Do not demand anything while at the bank or act like a lunatic, you will be escorted out.
Remember the Golden Rule “Treat others the way you wish to be Treated”!!!
------------
Items to Bring to the EXCHANGE Appointment
(Check off the list as you put all items needed together to make sure you remember everything)
“Driver’s License
“Second form of ID (accredit card or passport)
“Your most recent utility bill (Water, power, etc.) to confirm residency in case you have never held an account with the bank you will be exchanging with or for another form of ID
“Power of Attorney Paperwork (If you are exchanging for someone else)
“A pad, pen to take notes, calculator
“Receipts for all currency purchased or gifting letter if they were a gift in case they are needed (Do not offer them, only do so if they are requested)
“IQN / VNN / IDN / ZWN currency
“Have your TOD designees (Transferable on Death) full legal names, phone numbers, addresses and Social Security Numbers written down that you want listed on your accounts.
You can have multiple TOD designations per account (Wife/Husband, Children, Grandchildren, Nieces/Nephews, etc.)
“Have a list of Cashier’s Checks you will need, if any, along with the exact amounts and who they need to be Payable to
“Decide in advance if you will be requesting cash for “Pocket Money” beforehand and how much.
DO NOT get more than $9,500 unless you would like Uncle Sam to visit you. Also remember the more you take with you, the bigger the target you are for thieves! BE SMART!!! Do you have a safe to store Cash In ??
“Know the ceiling rate!!! Make sure you do not get hit with a Spread Fee! If you do not like the spread fee they are charging simply let them know (In a Professional manner) you will go to another bank.
-----------
New Account Numbers for each Currency EXCHANGED
( DO NOT EXCHANGE ALL CURRENCIES IN TO ONE ACCOUNT, OPEN SEPARATE ACCOUNTS FOR EACH CURRENCY!!!!) Note- this may be outdated information…….
Name of Bank Exchanger____________________________________________
Bank____________________________________________
Branch___________________________________________
IQN/IQD Checking Account Number__________________________________________
IQN/IQD Checking Routing Number__________________________________________
IQN/IQD Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________
Add TOD (Transferable on Death) Names to Accounts (Checking and Savings)
“Make sure you receive copies of the deposit slips and all account information
“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)
“Get starter checks if needed until your checks arrive
“Get ATM card if you want one
“Set up Online Banking if wanted
“Inquire about Extra Insurance for your funds __________
------------
VNN/VND Checking Account Number__________________________________________
VNN/VND Checking Routing Number__________________________________________
VNN/VND Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________
“Add TOD (Transferable on Death) Names to Accounts ( Checking and Savings)
“Make sure you receive copies of the deposit slips and all account information
“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)
“Get starter checks if needed until your checks arrive
“Get ATM card if you want one
“Set up Online Banking if wanted
“Inquire about Extra Insurance for your funds____________
-------------
Zim Checking Account Number__________________________________________
ZIm Checking Routing Number__________________________________________
Zim Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________
“Add TOD (Transferable on Death) Names to Accounts ( Checking and Savings)
“Make sure you receive copies of the deposit slips and all account information
“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)
“Get starter checks if needed until your checks arrive
“Get ATM card if you want one
“Set up Online Banking if wanted
“Inquire about Extra Insurance for your funds
(Use the same format for Rupiah and Rial or other currencies if they are also exchangeable at this time)
DID YOU GET A COPY OF YOUR SIGNED NDA?
Set second appointment with a Private Banker or Wealth Manager (The bank will guide as to who you need to speak with based on your EXCHANGE/deposit amount
This appointment will be the one in which you discuss all of your options for investment and
your “perks”
Private Banker Name__________________________
Telephone Number____________________________
Appointment time______________
Location___________________________
(Dinar Recaps Note: You may also want to have a list of "perks" with you so you know which ones are important to you)
."Financial Advisors and What They Do" Posted by MRiles at TNT
.TNT:
MRiles: Essential Questions for a Financial Advisor
By Wendy Connett Updated Jun 25, 2019
Choosing the right financial advisor is, in essence, taking the time to invest in what should be a long-term professional relationship that keeps your financial health and future on the right track. The search should go well beyond referrals from colleagues, friends and family and an emphasis on investment performance.
In fact, investors should dedicate as much effort as they would to finding a medical professional with whom they trust their physical well-being. The right financial advisor will provide the professional help needed to reach long and short-term financial goals.
The following are questions that should be asked when choosing a qualified financial advisor. If they can’t or avoid answering them keep looking.
For advisors, being able to answer these questions may be the difference between whether or not a potential client decides to choose you over a competitor.
TNT:
MRiles: Essential Questions for a Financial Advisor
By Wendy Connett Updated Jun 25, 2019
Choosing the right financial advisor is, in essence, taking the time to invest in what should be a long-term professional relationship that keeps your financial health and future on the right track. The search should go well beyond referrals from colleagues, friends and family and an emphasis on investment performance.
In fact, investors should dedicate as much effort as they would to finding a medical professional with whom they trust their physical well-being. The right financial advisor will provide the professional help needed to reach long and short-term financial goals.
The following are questions that should be asked when choosing a qualified financial advisor. If they can’t or avoid answering them keep looking.
For advisors, being able to answer these questions may be the difference between whether or not a potential client decides to choose you over a competitor.
What are Your Professional Qualifications?
Anyone can hand out business cards maintaining they are a financial advisor so it is important to ask about qualifications and credentials.
While there are myriad professional designations, top advisors typically have credentials such as certified financial planner (CFP), chartered financial analyst (CFA) and chartered financial consultant (ChFC).
Advisors with CFP designations, for example, are regulated, licensed and take mandatory courses related to financial planning, such as estate planning and retirement planning among others.
Some advisors are also certified public accountants (CPAs). For those who also need tax advice and preparation choosing a financial planner who also has a CPA designation may make sense.
Financial advisors who sell stocks, bonds, mutual funds or insurance have licenses including the Series 6, Series 7, or Series 63. To obtain these licenses they must take exams administered by the Financial Industry Regulatory Authority.
Are You an RIA?
Some financial advisors are registered investment advisors (RIAs), which means they are held to high fiduciary standards put in place to protect investors. The fiduciary standard requires that advisors unconditionally put their clients' best interest first at all times no matter what.
Advisors who aren’t fiduciaries adhere to a less stringent standard called the suitability standard. This means that any investments they offer must be suitable for a client although it may not be in their best interest.
True to their name, RIAs are also required to register with the Securities and Exchange Commission or the states in which they conduct business. (For more, see: Becoming a Registered Investment Advisor.)
How Do You Charge for Your Services?
Most RIAs charge clients a percentage of assets under management or a flat fee or hourly rate. Advisors who are fee-only do not earn commissions on investment products they sell to clients. On average they charge no more than 2% of assets under management. That percentage often declines the more assets you have for them to manage.
Advisors who work for full-service firms, such as big broker-dealers like Merrill Lynch and Morgan Stanley, typically charge commissions on investment products such as stocks, bonds, mutual funds, exchange-traded funds and annuities that are bought and sold. In theory, advisors who charge commissions could be less objective when recommending investments.
Who Are Your Typical Clients?
To continue reading, please go to the original article at
https://www.investopedia.com/articles/personal-finance/050815/what-do-financial-advisers-do.asp
.12 Places to Keep Your Money Safe — And Growing
.12 Places to Keep Your Money Safe — And Growing
By Tara Struyk
Maybe you've heard a story like this: An entirely ordinary — and often reclusive — elderly person passes away, revealing the millions of dollars they have stashed away in their modest homes.
One Nevada man died to reveal a fortune, including gold bars and coins, worth more than $7 million. His bank account was found to be holding a meager $200.
In an age when there are so very many options for saving, investing, and managing our money, the notion that people still really do put cash under their mattresses is a bit hard to imagine.
Then again, if you've been faced with the task of deciding where to keep your savings, you've probably discovered it isn't an easy one, precisely because there are so many choices.
So where can you keep your money safe but still earn a decent return? Here are some key options.
Savings Accounts
They're simple, they're convenient, they're easy to find and they're perfectly safe in terms of protecting your principal investment. Because there is so much competition, you can also find a decent interest rate if you shop around. Just be sure to choose an account with no fees. Who wants to pay to save?
12 Places to Keep Your Money Safe — And Growing
By Tara Struyk
Maybe you've heard a story like this: An entirely ordinary — and often reclusive — elderly person passes away, revealing the millions of dollars they have stashed away in their modest homes.
One Nevada man died to reveal a fortune, including gold bars and coins, worth more than $7 million. His bank account was found to be holding a meager $200.
In an age when there are so very many options for saving, investing, and managing our money, the notion that people still really do put cash under their mattresses is a bit hard to imagine.
Then again, if you've been faced with the task of deciding where to keep your savings, you've probably discovered it isn't an easy one, precisely because there are so many choices.
So where can you keep your money safe but still earn a decent return? Here are some key options.
Savings Accounts
They're simple, they're convenient, they're easy to find and they're perfectly safe in terms of protecting your principal investment. Because there is so much competition, you can also find a decent interest rate if you shop around. Just be sure to choose an account with no fees. Who wants to pay to save?
(See also: Why Savings Account Interest Rates Are So Low)
Who It's Best For
Those who prioritize liquidity (the ability to withdraw your money whenever you want it without restrictions) above all other conveniences. If you're looking to save for shorter term goals, or for an emergency fund, a savings account is a great option.
Money Market Accounts
This type of savings account tends to provide higher returns than a typical savings account, but that also has more restrictions on withdrawals and minimum deposits.
Some money market accounts even allow some check-writing privileges. These accounts are risk free in terms of losing your initial deposit and, like a simple savings account, are insured by the Federal Deposit Insurance Corporation (FDIC), which protects your deposits against bank failure.
Who It's Best For
Those who value safety and are willing to forego some convenience and accessibility for higher rates of return.
High-Yield Checking Accounts
Many checking accounts charge a monthly fee, but some checking accounts, often called "high yield checking accounts," actually offer pretty solid interest rates instead.
These accounts are typically offered by local credit unions and online banks and, as of July 2014, some offered interest rates as high as 5% — although there are quite a few caveats to scoring that kind of return. You can run a search of these types of accounts and what they offer at CheckingFinder.
Who It's Best For
Those who seek safety, reasonably good liquidity and don't mind jumping through a few hoops for a higher return.
Certificates of Deposit
A certificate of deposit, or CD, is a sort of IOU from a bank in which the bank agrees to pay back the amount you deposited plus a specific amount of interest within a certain time frame.
For example, if you buy a $1,000 CD with a 5% interest rate, you'll be owed $105 when the CD matures. Generally, you can't withdraw this money before the CD's maturity date without incurring a penalty.
However, CDs are very low risk and generally provide higher returns than a savings or money market account. (See also: The Basics of CD Laddering)
Who It's Best For
Those who are seeking a long-term savings vehicle and don't expect to need to access their savings immediately.
To continue reading, please go to the original article at
https://www.wisebread.com/12-places-to-keep-your-money-safe-and-growing?ref=seealso
.9 Essential Personal Finance Skills to Teach Your Kid
.9 Essential Personal Finance Skills to Teach Your Kid Before They Move Out
By Tim Lemke
Your child is on the verge of moving out and living on their own. Are they prepared?
Arming them with the right personal finance knowledge will give them a strong foundation to go and achieve many of their life goals. If their understanding of personal finance is lacking, they could begin their independent life on the wrong foot (and they may even come back home).
Consider these ways that you can help your child build a base of financial knowledge before they move out.
1. Show Them How To Budget
Perhaps the most important personal finance skill is consistently spending less than you earn. There are a million different ways to budget, and whatever works for you may not work for your child.
9 Essential Personal Finance Skills to Teach Your Kid Before They Move Out
By Tim Lemke
Your child is on the verge of moving out and living on their own. Are they prepared?
Arming them with the right personal finance knowledge will give them a strong foundation to go and achieve many of their life goals. If their understanding of personal finance is lacking, they could begin their independent life on the wrong foot (and they may even come back home).
Consider these ways that you can help your child build a base of financial knowledge before they move out.
1. Show Them How To Budget
Perhaps the most important personal finance skill is consistently spending less than you earn. There are a million different ways to budget, and whatever works for you may not work for your child.
But encourage them to develop a system to track and categorize spending and then compare those expenses to their income.
Of course they'll need to account for housing, food, and utilities but also let them know it's OK to include "fun money" in their budget. It will help them stay motivated to stick to their budget. (See also: How to Help Your Kid Build Their First Budget)
2. Teach Them How Retirement Plans Work
If your child is moving out, they likely have some earned income. That means they can start contributing to a Roth individual retirement account.
They may scoff at the notion of saving for retirement so early, but if you help them open a Roth IRA and demonstrate how much money they can accrue over time, they'll get on board.
Urge them to save as much as they can each month, invest in simple things like index funds, and simply watch their account balance grow over time through compounding.
If they have a 401(k) plan through an employer, take time to review the plan document with them and encourage them to contribute as much as they can. Be sure to explain the advantages of getting a company match on contributions, if one is offered.
3. Explain Bank Interest Rates
Chances are, your child already has a savings account. But it's still helpful to explain that they don't necessarily need to put their money in the first bank they see.
Show them how interest rates can vary, and that it's OK to shop around for the best rates so they can earn a little extra money. Explain terms like APR and APY, and the factors that impact whether rates go up or down.
Also outline the pros and cons of placing money in certificates of deposit. These days, it's also helpful to explain that while interest rates are rising, they're still quite low, and that it might make sense to invest some funds in ways that generate a higher return than savings account interest.
To continue reading, please go to the original article at
https://www.wisebread.com/9-essential-personal-finance-skills-to-teach-your-kid-before-they-move-out
.13 Things to do if You Suddenly Become Filthy Rich
From Recaps Archives
.13 Things to Do If You Suddenly Become Filthy Rich
Becoming rich instantly, or in a very short period, is part of the great American dream. It happens each and every day to someone. What many people fail to consider ahead of time is that becoming wealthy also comes with great responsibility.
People can become wealthy in many ways. Some sell a business or an asset.
Some people become wealthy in a very short period because of a smart or lucky investment. Some of the instantly wealthy win the lottery, win a legal judgment or receive a settlement.
Others inherit more money than they expected, and some inherit money that they never knew was coming to them.
From Recaps Archives
13 Things to Do If You Suddenly Become Filthy Rich
Becoming rich instantly, or in a very short period, is part of the great American dream. It happens each and every day to someone. What many people fail to consider ahead of time is that becoming wealthy also comes with great responsibility.
People can become wealthy in many ways. Some sell a business or an asset.
Some people become wealthy in a very short period because of a smart or lucky investment. Some of the instantly wealthy win the lottery, win a legal judgment or receive a settlement.
Others inherit more money than they expected, and some inherit money that they never knew was coming to them.
And some people with stock options become instantly wealthy on paper if they have stock options when their employer has an initial public offering or gets acquired.
24/7 Wall St. has created a list of 12 things not to do if you win the lottery, but we wanted to create a blueprint for those lucky few who become wealthy overnight or in a very short time.
Again, becoming wealthy comes with responsibility. Suddenly having millions of dollars puts you in the so-called one-percenter club. Being responsible about your newfound wealth may do more than just protect your new assets — it could even save your life, literally.
Winning the lottery is one of the more well-known ways of becoming instantly wealthy. Other means of instant wealth do not require things like remembering to sign a ticket or to report winning to the proper lottery authority.CNBC released data in early 2015 showing that there were over 10 million households with investible assets over $1 million, with another 3.1 million households with $5 million or more. They also showed that there were nearly 500,000 new millionaires created in 2014 alone — well over 1,000 each and every day!
Becoming rich is one thing. Many people do it, but many also lose their wealth. Some people end up broke because of poor decisions, bad luck or recessions, or because someone else takes it from them. Consider one maxim here: you should only have to become rich once.
How would you like to become rich only to end up broke? Any takers? It can happen to anyone who avoids taking the proper steps to protect their wealth. Again, people who get rich should only have to get rich once.
Here are 13 things to do (and not do) if you become wealthy in an instant or in a very short time period.
To continue reading, please go to the original article at