.Private Banking and Private Bankers

From the Dinar Recaps Archives originally posted on 6/4/2019

Philanthropy 101

Giving money away can be just as complicated as making it.

Private bankers help spread the wealth.

Private bankers help clients to guard their wealth; they also hold their hands when it’s time to give some of it away.

“Many times clients are interested in donating, but they don’t really have the people to sit down and have a dialogue with,” says Nicholas Stonestreet, head of Trust & Wealth Structuring at Merrill Lynch International Private Client Group. “It’s a really important part of private banking.”

Stonestreet encourages his staff to ask clients about their philanthropic intentions. Like therapists exploring personal problems, charity experts at private banks can help donors think through their altruistic inclinations and motives.

Will the client get more out of giving while still alive or after death? Some may want a foundation to carry on their legacy forever; others may want the bequest spent out at some point.

The tax implications of giving are a frequent concern. Though the U.S. leads the world in tax breaks for charitable giving, other countries are catching up.

In recent years the U.K. has improved its Gift Aid plan, introduced in 1990 to allow charities to reclaim basic-rate tax (now 22%) on one-time cash donations of at least £250 ($390), by eliminating the minimum amount and allowing income tax deductions to those donating stock.

This year Canada indefinitely extended legislation that halves to 25% the amount of capital gain subject to tax for gifts of public securities made directly to charities.

Private bankers will help structure a donation to maximize the writeoff, selecting the best asset and even seeing to the completion of the transaction. Sometimes an offshore trust is advantageous for tax or other reasons; private banks have always known the score there.

As philanthropy becomes more widespread on the giver end, so too are receivers becoming more active. Banks can set up a screening service for pleas and proposals from would-be beneficiaries.

To continue reading, please go to the original article here:

http://www.wikihow.com/Become-a-Private-Banker

4 Steps to Make Your Money Last a Lifetime

From the Dinar Recaps Archives originally posted on 5/30/2019

4 Steps to Make Your Money Last a Lifetime
By Jane Bryant Quinn, AARP Bulletin

A simple, easy-to-use formula to make sure you never run out of cash

As a financial columnist, I get asked the same heartfelt question over and over: “How do I make sure I don’t outlive my money?” And that makes sense. Surveys confirm that the No. 1 worry among older Americans is running out of cash.

Fortunately, financial planners have come up with sound ways to prevent this. Collected here are their key rules for maintaining a livable income for life, plus case studies that show how to put these general rules into action. The goal is your peace of mind — knowing that you’re getting the most from the money you’ve saved and that you’ll always have enough.

The Magic Number

The key to long-term planning is knowing one essential number: how much money you can afford to spend annually. From there, you can adjust your expenses to fit.

You may be tempted to reverse the order — estimate your future expenses, then adjust your investment assumptions to make that spending appear possible. But that’s wishful thinking: a hope that big investment returns will rescue your budget. It leads to overspending early on, and regret later.

Instead, let’s focus on the real, guaranteed money you’ll have. There are two main sources:

Your personal savings and investments.
Your guaranteed income from other sources.

Download this worksheet to help you find your sustainable income. The key steps:

Step 1: Tally Your Guaranteed Income

The most common source is Social Security, which you may already be collecting. (If you’re not, get an estimate by calling Social Security or by opening a My Social Security account at ssa.gov.) You might also have a pension or annuity.

If you own a reliable rental property, include the amount of rent you receive after expenses.

To continue reading, please go to the original article here:

https://www.aarp.org/retirement/retirement-savings/info-2018/make-money-last-lifetime.html

Possible Bank Perks to ask for at your Exchange Apt.

From Dinar Recaps Archives

Possible Bank Perks to ask for at your Exchange Appointment.
 
AUM - Assets Under Management

1. No fees ever for foreign currency exchanges

2. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an non-interest-bearing account overnight and sweep those funds into other non-interest bearing accounts within your bank the following day; until I meet with bank advisers and other financial professionals and make some general guidelines for the management of these funds and the distribution of a portion of these funds through your bank, trust, and LLCs.

3. Family Office Services

4. Perks can be based on AUM (Assets Under Management) in a tier grid

5. Discounts on AUM fees

6. No fees ever - no fee to deposit/wire transfer money

7. No Broker fees ever

8. Free Safe Deposit Box, Certified Checks, Notarized, Courier Services

9. Provide Excess Deposit Insurance (i.e. Lloyds of London and/or Travelers) or Abbott Downing

10. Provide Senior Wealth Managers/Investment Bankers for selection

11. Tax/Business/Estate Attorney & CPA

12. Private transactions representation –assistance in buying a house/car/anything ( my trustee will purchase through my bank) 13.

Free Due Diligence Services provided for outside investment opportunities(research on any person or service) they will get it

14. 100% funding availability (immediate Funds) before we leave

15. Unlimited Platinum or Black Visa Signature Debit & Credit Card with no ATM fees

16. Line of Credit available

17. Group Health Insurance - to cover the signers and families of depositors

18. Guarantee 12-15% interest per year on deposits

19. Bank Trading Platforms & Repurchase Agreement Sweep Accounts

20. Short Term/High Yield Interest Rates

21. Assist in opening an offshore bank account with affiliate bank for foreign investments

22. Access to information on great investment opportunities

23. Pre-IPO deals

24. Provide free Executive Privacy Plus subscription with Reputation.com

25. 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

26. 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

27. Limousine & VIP transportation based on AUM in a tier grid

28. Private Jet Travel (5-25 flight hrs. per mo.) based on AUM in atier grid on flight hours per month

29. First Class seats/commercial airlines based on AUM in a tier grid

30. Private Yacht access/usage (40 hrs. annually) based on AUM in a tier grid on access/usage hours per year

31. Donations to our favorite charities (Banks matching a certain percentage)

32. Prime seats at charity events

33. Suites at Luxury Hotels & VIP Dinners at Restaurants based on AUM

34. Membership fee & Annual fees to Inspirato Core resorts & residences

35. Membership fee & Annual fees to Exclusive Resorts & Residences for 60 days with Priority Holiday Access annually

36. ClubCorp Private Membership based on AUM

37. Spa & Massage Club Membership based on AUM in a tier grid

38. Concierge Services 24/7 based on AUM

39. Provide a free Vertu Ti cell phone & concierge subscription service for  members with $1 million and over AUM

40. Free Family Financial Education provided for group family members

41. Provide any and all other perks that was not mentioned

Possible Exchange Apt. Checklist and Tips

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 zipcode is__________________

My e-mail address is  (If they ask for it)________________________________

I have________________________ IQN (Iraqi) currency

I have________________________VNN (Vietnamese)currency

I have________________________1000 notes from 2000 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!!!!)

Name of Bank Exchanger____________________________________________

Bank____________________________________________

Branch___________________________________________

IQN Checking Account Number__________________________________________

IQN Checking Routing Number__________________________________________

IQN 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 Checking Account Number__________________________________________

VNN Checking Routing Number__________________________________________

VNN 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)

Possible Bank Perks to ask for at your Exchange Appointment

Negotiating At Your Exchange by Mother Esq.

From Recaps Archives

MotherEsq:  Negotiating at your Exchange

 Dear TNT family,

Taking another day off here and wanted to comment just a little bit about the “Exchange”.   I am not an Intel provider but simply an “educator” on what I perceive to be tactics.  

Again I admonish. You to be discerning in who you listen to among the Intel providers.  As Rayren has stressed this week and last week, “there is some crazy stuff” out there.  

A lot of it starts out good and then as you get near the end “the yellow submarine” takes effect and and the lunacy comes out.   

I received many positive comments on my last posting thank you. And only a few negative. I do not read everything – time constraints to be candid.  However, I approach my analyzing like a lawyer approaches “evidence”.

 When a lawyer looks at a document or listen to testimony we are looking at “context” – a document we apply the “4 corners” test which is often referred to as “Parole Evidence”.

Not going to give you all a dissertation here but – when I read a posting or even listen to a call – in the back of my mind I am running through the tests for heresy statements, relevant facts, lineage etc.  

 Lastly I apply something that is applied in “criminal proceedings”.  The doctrine of “Fruit from the “Poisoness Tree”.  This doctrine says that if there is a  violation in the collection of evidence in other words things like “chain of custody” or someone lied to obtain an affidavit or something was done wrong in the pursuit of evidence then anything obtained from this “Tree of evidence” is tainted and therefor thrown out.

This all applies to investigations done by the state in criminal investigations.  You may be asking how does this apply to my thinking?  Well when I look at a blog or posting and I see something crazy in it – then in my mind the whole thing is “tainted”.  

Many of said take the good and discard the bad.  That is like separating the “wheat from the chaff”.  However if the source is bad how can you trust anything the person says? What is their motive? What is their agenda?  

To my main purpose this morning.  Negotiating.   Please do not over complicate your first visit to the bank or exchange center by:

1.Taking an entourage of folks with you

2.Telling the banker you want to be a philanthropist and give away a lot of money

 If you take someone with you to the bank you may block or prevent yourself from having a shot at “contract” rates.  Because everyone knows a NDA will have to be signed.   And that agreement is between you and the bank acting as agent for the government.  

Do you really want to make the circle larger and create possible leaks that would jeopardize your future?   If you take someone with you and they do not have a stake in this – it is easy for them to put you in jeopardy.   Of course not willingly but why do you want o expose yourself?   Remember, “Lose lips sink ships”.  

I heard earlier this week from some outfit or notes from a call. Tell them the banker at the exchange you want to give to humanitarian causes and be this great philanthropist. Why in the world if I am a banker would I want to do business with someone who wants to give it all away?  

 I am representing the bank or financial institution.   When you go into the bank – you need to tell the banker or exchanger, “Hey first of all thank you for working me into day. I know you are busy and have been dealing with a lot of folks.  

Please I want and it is my hope we can establish a solid banking relationship and your institution can give me guidance for long term stability, planning. I want this to a mutually great profitable partnership, I would like to obtain the highest possible rate or contract rate available..”  

Now your talking the banker’s language.   They are there to make money for the bank and collect assets for management.

 If right out of the gate you tell them how great you are and how much you want to give away – what is their incentive to help you?  

 Remember when negotiating, do not play all your cards, and the second rule upon making an opening statement, “first one who talks loses”.  Just make a nice opening statement, then be quiet.  

You have 1.  Been gracious to the banker or showed empathy, 2. You have set the table – that you are sophisticated and want a solid relationship, 3. You have shared your expectations.   Now be quiet.   

 Again you want to play to the vanity and greed of banks.  If you go in saying you’re going to give money away – how does that benefit them?   And remember “Planned Giving” is a part of “Planning” it is not about Exchanging.  You are there to do an exchange not “plan”.  So keep the two separate.  

 At your next appointment even then is not the time to “blab”. It is the time to meet the Planner and or Wealth manager and lay out goals and objectives to sustain your wealth into the future and grow it and put structures together that maximize “asset protection”, “provide for yourself and possible heirs” and to “minimize tax liabilities”.  Planned giving fits into the last category because through planned giving you effect tax liabilities.  

 Anyway I hope in some way this helps a lot of folks. 

 Be courteous, kind and gracious upon your exchange. Keep it simple you are there to exchange and obtain the highest rate as possible if you chose that route.   And you want to communicate stability, a level of sophistication and you want to get it over with so the banker can move on to the next person.   Simple keep it that way.  Be as “Wise as a Serpent and as Harmless as a Dove.   

 Kindest regards

 Mother, Esq.

.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.

Curbed on campers, RVs, and more:

• RV toilets: Why I’ll never have a bathroom in my camper

• The business of van life

• Millennials are the future of RVs. Is the industry ready?

• Rare 40-foot Airstream renovated into midcentury modern dream

• Why is RV design so boring?

• This vintage-style camper is the future of travel trailers

• The ultimate RV shopping guide

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:

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.

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

https://www.kiplinger.com/slideshow/retirement/T037-S001-cheapest-u-s-cities-for-early-retirement-2019/index.html

.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.

“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

https://www.kiplinger.com/slideshow/retirement/T037-S001-reasons-you-ll-regret-an-rv-in-retirement/index.html

.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.

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

https://womenwhomoney.com/hiring-coach-worth-money/

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

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