8 Insights Only the Self-Made Super Wealthy Understand
.From the Dinar Recaps Archives originally posted on 6/3/2019
Billionaire Ken Fisher Shares 8 Insights Only the Self-Made Super Wealthy Understand
Wonder what it's really like to strike it rich? Billionaire Ken Fisher explains the perspectives of the self-made wealthy.
BY KEVIN DAUM Inc. 500 entrepreneur and best-selling author@KevinJDaum
Not all entrepreneurs are in it for the money, but gaining wealth is certainly among the top motivators for company building. Not surprisingly, having great wealth brings it's own unique responsibilities and circumstances that few get to experience first hand.
I recently had the privilege of interviewing billionaire Ken Fisher, founder, chairman, and CEO of Fisher Investments, best-selling author, Forbes magazine columnist, and No. 225 on the Forbes 400.
Fisher provided a candid, no-holds-barred look at the perspective of the self-made super wealthy.
Here are his insights.
From the Dinar Recaps Archives originally posted on 6/3/2019
Billionaire Ken Fisher Shares 8 Insights Only the Self-Made Super Wealthy Understand
Wonder what it's really like to strike it rich? Billionaire Ken Fisher explains the perspectives of the self-made wealthy.
BY KEVIN DAUM Inc. 500 entrepreneur and best-selling author@KevinJDaum
Not all entrepreneurs are in it for the money, but gaining wealth is certainly among the top motivators for company building. Not surprisingly, having great wealth brings it's own unique responsibilities and circumstances that few get to experience first hand.
I recently had the privilege of interviewing billionaire Ken Fisher, founder, chairman, and CEO of Fisher Investments, best-selling author, Forbes magazine columnist, and No. 225 on the Forbes 400.
Fisher provided a candid, no-holds-barred look at the perspective of the self-made super wealthy.
Here are his insights.
1. It isn't pursuit of wealth, but pursuit of passion that creates wealth.
Focusing on money won't likely get you to the Forbes list like Fisher. He aptly states: "Most people don't get super wealthy by accumulating money. They get super wealthy by following some dream they are passionate about, whether its starting and running a business, or being a rock star musician or a visual entertainer."
He points out that most of the super wealthy overshoot their personal goals, and yet they are still driven by their passion. The super wealthy know that if you pursue your passion, the money will come.
2. After a certain monetary threshold, the desire isn't for more wealth, but more time.
There is very little that the super wealthy cannot buy. As the wealth keeps accumulating, spending becomes less of a joy or ambition. "After a certain point," Fisher explains, "there isn't much more you can think of that you want."
What becomes more desirable is time to enjoy life. "The vacation homes, cars, boats, and wardrobes are just more stuff to deal with." Fisher observes. "All that stuff clutters your time usage, so at a certain point, the wealthier you get the more you covet time."
3. Everyone you've known forever (except your spouse) will think you've changed.
There is a common belief that wealth changes everyone, and not always for the better. Fisher says, "Only you will know that you haven't changed; that passionate drive to follow dreams does not change."
Fisher explains it this way: "Everyone's perceptions of change are as though they are seeing the clock at a few different hour points in your evolution, as opposed to seeing it as a continuous sweeping minute hand that doesn't change."
To continue reading, please go to the original article here:
How To Move Money After The RV
.How To Move Money After The RV
By Muhammad Ali
This article I wrote for my group here in Malaysia. Most of the information pertains to Malaysians and Singaporeans, however, the general concept of moving money can apply to anyone, anywhere.
For some of you, after the RV, you will have hundreds of millions of RM (Ringgit Malaysia) or Dollars and for security reasons you may want to park your funds in several banks in several countries.
For example, you may have an account in Malaysia, Singapore and Brunei, as well as have an IBC (International Business Center) in Labuan.
As the English express goes, don't put all your eggs in one basket.
Diversification of your money in other countries or in other currencies (as in multi-currency accounts) may be a very good thing to do.
How To Move Money After The RV
By Muhammad Ali
This article I wrote for my group here in Malaysia. Most of the information pertains to Malaysians and Singaporeans, however, the general concept of moving money can apply to anyone, anywhere.
For some of you, after the RV, you will have hundreds of millions of RM (Ringgit Malaysia) or Dollars and for security reasons you may want to park your funds in several banks in several countries.
For example, you may have an account in Malaysia, Singapore and Brunei, as well as have an IBC (International Business Center) in Labuan.
As the English express goes, don't put all your eggs in one basket.
Diversification of your money in other countries or in other currencies (as in multi-currency accounts) may be a very good thing to do.
If you kept all of your money in Malaysia Ringgit and the Ringgit takes a dive and drops considerably in value, this may affect your net worth. So having money in Canadian Dollars, Australian Dollar, Singapore Dollar etc., might be a wise thing to do.
I will particularly focus on those living in Malaysia and Singapore.
As it is today, banks from one country to another do not share account details with each other, unless you are an American citizen or you have committed a crime.
So what this means, if you are in Malaysia, and you park some funds in Singapore, your Singapore bank will not reveal nor inform Malaysia.
So that's the first thing as to why we want to put money in other countries.
Now if you have an account in Singapore and you want to move money to Malaysia or Canada or any other country. Here are several ways you can do so.
1. Bank to bank transfer. From your account in Singapore, you can transfer to any bank account in any country.
2. When you open your account in Singapore you will receive a debit/ATM card, in which you can withdraw funds from any ATM in any country of the world.
3. You can use the money changers to move money across the border. Let's say you have money in Singapore and you want to move $250,000 SGD to Malaysia. Go to a money changer with the cash or transfer to their bank account and tell them you want to pick up the money in Malaysia.
The money changer will give you a pick up code and the location in Malaysia to pick up the money. So then you travel across the border hassle free and then you can pick up the money in Malaysia.
4. You can take out large sums of money from Singapore ATMs and then just drive over the border with the cash in your pockets but do not travel over via any public transport methods for example, bus, train, flight as the money will be detected thru travel scanners.
Ok, why am I sharing this information, as I said, for some of you, you will have hundred's of millions of RM or SGD after RV. You will be considered ultra-high-network individuals. You need to understand and keep all your options open and make it part of your exchange plan.
Taking money across the border is usually limited to about $10,000 USD for most countries. Singapore it is $20,000 SGD. If you are searched and found with money above this amount you will be charged and/or fined for not declaring the amount you have brought over the legal amount.
Why do we not want to declare? When we have nothing to hide? That is the question. The reason why we don't want to declare is because at the checkpoint or border they will make you fill in a form with all of your personal details, name, passport number, home address etc.
This information will be put into a computer system and printed paper versions left in the immigration systems and office with public access to your personal details by immigration officers.
So this is why, if we want to move money, we do it without declaring via the above methods.
Now let's say it's already RV and you want to take you 100 notes bundle of Iranian Rials (10 million Rials) over to Singapore to exchange at HSBC Singapore.
But you are scared to travel with that large amount of money. Or for some of you guys who are overseas and I am holding your currency and you want to come to Malaysia and then bring your currency back to your country to exchange.
Now this becomes difficult because the value of the Rial now has increased and way above the $10,000 limit to fly back with.
There is another solution to this problem. You would take your currency to a local bank (in Malaysia) and ask to exchange the currency to SKR. (Safe Keeping Receipts) the bank will exchange the currency at the current rate but not deposit the money into your account but will give an SKR for the amount.
Now you can travel safely with the SKR, these are just paper receipts and non-trackable at the airports or border crossings.
When you arrive to your home country you take the SKR to your bank, and they will convert it to your local currency and deposit to your account.
So this is how you can move your Dinar, Rial or Zim after the RV, without any worries at the border.
I hope my article brings awareness and helps you to if you plan on moving money across borders.
Any questions please send me an email to currencyexchangeplanner@gmail.com
I am the creator of the Currency Exchange Planner, an excel spread sheet, which is the most advanced and affordable planning tool for the Dinar Community.
Try the FREE Download version to test run or BUY the full version for a One-Time low price of $25. This includes free updates in the future.
My website is www.CurrencyExchangePlanner.com
Thank you so much, Muhammad Ali
https://www.currencyexchangeplanner.com/article-5-how-to-move-money
Finding a Financial Advisor or Planner
.From the Recaps Archives, originally posted on 6/3/2019
Finding a Financial Advisor or Planner
By Troy Segal Updated Jun 3, 2019
If it's ever occurred to you how complex and vital 'getting it right' is when it comes to saving, investing, maximizing the value of your wealth and planning for a safe, comfortable retirement, you've probably asked yourself if you should employ a financial planner or advisor.
Similarly, if you've felt the pressure of deciding on a big investment, such as a home or education—or felt overwhelmed with the financial details after a wedding, the birth of a child, divorce, death of a spouse, or major illness—you've probably wondered about finding someone to advise you.
From the Recaps Archives, originally posted on 6/3/2019
Finding a Financial Advisor or Planner
By Troy Segal Updated Jun 3, 2019
If it's ever occurred to you how complex and vital 'getting it right' is when it comes to saving, investing, maximizing the value of your wealth and planning for a safe, comfortable retirement, you've probably asked yourself if you should employ a financial planner or advisor.
Similarly, if you've felt the pressure of deciding on a big investment, such as a home or education—or felt overwhelmed with the financial details after a wedding, the birth of a child, divorce, death of a spouse, or major illness—you've probably wondered about finding someone to advise you.
Services of Advisors and Planners
According to a 2019 CNBC and Acorns Invest survey, over a third of Americans don't have a good understanding of what a financial advisor actually does. That figure balloons to 46% for Millennials.
So what kind of services do financial advisors and planners provide? Broadly, they can help you manage your financial life using a variety of strategies and products to both manage your wealth and improve your financial habits.
Types of Financial Advice
Not all financial advisors are the same. Some specialize in certain practice areas, types of clients, income levels, investment strategies, and products. Some work with clients all over the country, while others focus on clients in their town.
Some can help you with your taxes, insurance needs, or estate planning and others will focus on retirement planning. There are advisors for the younger client and some specialize on retirees. You can find a planner to help with life stages planning, estate distribution strategies, and business planning.
From managing every aspect of your personal or business financial life to simply suggesting directions, there are specialized professionals available to help.
Reasons to Seek Financial Advice
You may need an advisor for many reasons. For example, perhaps you just received a considerable sum of money from a relative who died or a windfall from the state lottery. As a person goes through different stages in life, their need for a financial professional will change.
erhaps you just had a baby and want to ensure their future in case the worst happens. Many parents seek help for college savings for children and setting up estates that can convey wealth to future generations.
The approach to investing at or during retirement is different than that of a young worker. As you near retirement your risk tolerance level will change, and your style of investing should change as well. Perhaps your company is offering a too-good-to-resist early-retirement package, and you want to make sure the money lasts.
Any of these events (and many others) could naturally trigger the desire for some professional help in managing your financial affairs.
To continue reading, please go to the original article here:
https://www.investopedia.com/updates/find-financial-advisor-planner/
.Private Banking and Private Bankers
.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.
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:
4 Steps to Make Your Money Last a Lifetime
.From the Dinar Recaps Archives originally posted on5/30/2019
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.
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.
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 Dinar 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)________________________________
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)
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”.
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.
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