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    TIPS & SUGGESTIONS (A Personal Guideline) FINANCIAL "TO DO" LIST With Large inheritance

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    Carol
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    TIPS & SUGGESTIONS (A Personal Guideline) FINANCIAL "TO DO" LIST With Large inheritance

    Post  Carol on Wed Nov 19, 2014 8:03 pm

    Note: This post is for informational purposes only.  It is not legal, tax or investment advice.  Everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.

    Rajaf: Revised 11/18/14

     TIPS & SUGGESTIONS (A Personal Guideline) 
    FINANCIAL "TO DO" LIST

    .
    1. move 55% into holding account – pay STATE taxes same year to get the fed tax deduction – can move funds into Triple A Brokerage Account with side-by-side Money Market Account for Brokerage Account, dividends to sweep into.
    [ ] State
    [ ] Fed


    2. contact CPA/Tax Attorney to help with taxes and prepare for the initial Fed tax payment / maximum quarter Fed Tax is 110% based on previous year (depending on when funds are received in account) tax return
    [ ] ______________________________________


    3. pay off mortgage / debts
    [ ]

    4. insure funds in accounts
    [ ] Abbot Downing
    [ ] Lloyds of London
    [ ] Prudential
    [ ] Life insurance for beneficiaries


    5. meet with CPA/Tax attorney to discuss setting up trusts and LLC
    [ ]


    6. purchase precious metals ~ gold/silver ~ digital money
    [ ] Monex
    [ ] Sterling / Dinar Banker
    [ ] Bitcoin (digital money)


    7. set up MCA and purchase foreign currencies (multi-currency account and hard foreign currency cash)
    [ ] HSBC
    [ ] Wells Fargo
    [ ] Sterling (exchange for hard foreign currency)
    [ ] EverBank, headquarters in Jacksonville, Fl; offer progressive international investments not usually found at other banks


    8. purchase land & rental properties (add liens at 110% to prevent against being sued for frivolous lawsuits)
    [ ] 100 unit apt building (minimum) 3 yr performance record, maintained well
    [ ] hotel
    [ ] rental income properties
    [ ] REITS
    [ ] MLPS
    [ ] EFTS / REITS / ETF (exchange traded fund) is big collection of stock ~ Instead of 20 REITS an ETF holds all of them (poor performance lately)


    What Exactly Is a REIT?
    “A Real Estate Investment Trust is a business that buys real estate. Typically they specialize in one particular slice of the commercial market,” he explains, pointing out that a REIT buys a series of properties, manages them, collect rents, and then passes that money along to shareholders…..


    finance.yahoo.com/blogs/breakout/investing-real-estate-without-buying-property-132429342.html

    [ ] investment that pays high dividend

    [ ] MLPs = Master Limited Partnerships – they invest in oil, energy and gas


    [ ] BARRONS 2013 TOP FINANCIAL ADVISORS LISTS

    online.barrons.com/report/top-financial-advisors

    Resources:
    www.thestreet.com/story/11901939/2/forget-buying-a-single-family-home-purchase-an-apartment-complex.html

    www.biggerpockets.com/renewsblog/2012/02/02/investment-property-valuation-residential-vs-commercial/

    www.propertyobserver.com.au/commercial/should-you-invest-in-residential-or-commercial-property-mark-armstrong/2013012358907

    9. Set up annuities and life insurance for each principal family member
    [ ] (Permanent Life Insurance policies) typically return 4-5% annually tax-free (be sure to have a rider [beneficiary] to protect principal)
    [ ] State Farm
    [ ] Prudential

    10. Investigate other investment options
    [ ] a Laddered Government Bond Portfolio / Diversified Bond Portfolio
    [ ] Stock Portfolio (Preferred Stocks-Bonds / Index Stocks - TD Ameritrade keeps fees low))
    [ ] Life Settlement Portfolio by public traded company
    [ ] US Agency Bonds
    [ ] Currency baskets
    [ ] Oil & Gas

    11. Annuities
    [ ] Fixed Index Annuities
    [ ] Immediate Annuities
    ImmediateAnnuities.com is the website of Hersh Stern, founder of one of the nation’s leading #1 online annuity brokerage firms
    [ ] Hybrid Annuities
    [ ]
    [ ]


    12. CDs (an option to hold funds for Fed taxes until due on April 15, 2015)

    13. Brokerage Account: Seek advice from a CPA/Tax attorney. (if your Private Banker is managing your funds tell him/her you don’t want any risk to principal)

    [ ] Option (put funds into a brokerage account(s) where dividends are paid into side-by-side money market account(s)

    For more information, see www.greencompany.com/EducationCenter/GTTRecCommodities.shtml 

    [ ] Do you have a Certified Financial Planner (CFP)

    Self-directed Brokerage Account (options with price quotes from Feb 2014)

    [ ] AT&T (T) $33.48
    [ ] *Amazon.com Inc. (AMZN) $397.54
    [ ] *Alliance Data Systems Corporation (ADS) $263.70

    [ ] American Express (AXP) $89.74
    [ ] Bank of Hawaii Corp (BOH) $57.99
    [ ] Bank of Montreal NYSE (BMO) $66.78
    [ ] Bank of Novia Soctia BNS $61.50
    [ ] Chevron Corporation (CVX) $124.35
    [ ] Coca-Cola (KO) $39.69
    [ ] *ConEdison (ED) $53.45
    [ ] *CORP PIMCO Investment Grade Corporate Bond / Index ETF $99.48
    [ ] Dominion Resources (D) $63.51
    [ ] *DST Systems, Inc. (DST) $90.18
    [ ] *ExOne (XONE) (3D) $65.24
    [ ] Firstenergy Corp (FE) $32.01
    [ ]*First Hawaiian Bank / French owned bank (BNP:FP) €55.68 EUR
    [ ] *Franklin Biotechnology Discovery Fund Class A (FBDIX) $131.18
    [ ] Franklin Templeton Investment Funds Franklin Growth Series Class A (FKGRX $64.74
    [ ] *Google Inc (GOOG) $1,105.00

    [ ] GW Pharmaceuticals PLC (GWPRF) $3.40
    [ ] *The Home Depot, Inc (HD) $81.01
    [ ] *International Business Machines Corp (IBM) $186.64

    [ ] Intel Corporation (INTC) $25.78
    [ ] *Johnson & Johnson (JNJ) $91.85
    [ ] Kinder Morgan Inc (KMI) $ 35.97
    [ ] *Lockheed Martin, NYSE (LMT) $147.06
    [ ] *McDonald’s (MCD) $96.54
    [ ] *MedBox (MDBX) $28.74
    [ ] *Nestle (NSRGY) $73.37
    [ ] *Nextera Energy (NEE) $84.36

    [ ] NOBIA AB ADR $42.93 ?
    [ ] NuStar Energy L.P. NYSE: (NS) $50.62
    [ ] *Novartis AG (ADR) (NVS) $79.11
    [ ] *PepsiCo, Inc. (PEP) $82.24
    [ ] *Procter & Gamble (PC) $80.45
    [ ] *Starbucks Corporation SBUX $75.46
    [ ] *Stratasys, Ltd. (SSYS) $136.46 (3D printer)

    [ ] Target Corporation (TGT) $63.49
    [ ] *The Home Depot, Inc (HD) $81.89
    [ ] *The Walt Disney Company (DIS) $76.11
    [ ] Verizon Communications Inc. (VZ) $48.42
    [ ] *VMware, Inc. (VMW) $89.42
    [ ] *Wal-Mart NYSE: (WMT) $78.65
    [ ] Wells Fargo Advantage Discovery Fund Investor Class (STDIX) $33.40 ?
    [ ] *3D Systems Corp (DDD) $96.42


    Two types of advisors. Fee based and *commissioned” based: a commissioned advisor who is paid by the company he uses to place your contract and trades. Then gets paid only on new invested funds as they are invested and only once except if the fund is sold or traded for another fund family if traded outside an annuity or life contract . You never pay the commissions. Vanguard Funds only deal in indexes, have the lowest fees and high returns for their investors.

    14. Taxes: There is a safe harbor for federal purposes that you only have to pay in 110% of your previous years (2013) tax on (quarterly) estimated and /or withholding tax.

    [ ] State (____%)
    [ ] Federal (23.8%) long term IQD [ ] other due to change in current law?
    [ ] Federal (43.4%) short term IQD


    15. [ ] PLR / Private Letter Ruling from IRS via Tax Attorney
    finance.yahoo.com/news/8-disappearing-tax-breaks-090200680.html


    [ ] Mortgage insurance property tax deduction

    Some big tax breaks for companies that invest in research and development, generous exemptions for financial institutions doing business overseas, and several breaks that let businesses write off capital investments faster. A series of tax breaks promote renewable energy, including a credit for power companies that produce electricity with windmills.

    A deduction for state and local sales taxes benefits people who live in the nine states without state income taxes. www.inance.yahoo.com/news/congress-letting-55-tax-breaks-171347516.html

    16. INTEREST BEARING ACCOUNTS (optional / depends on the amount of interest available – better to put money into higher yielding profit making options/ income producing property, money market, self- directed brokerage account, State Farm annuity, Triple A tax free muni bonds, etc)

    17. [ ] CDARS (?) Safe but may not get the best interest rate. Want money making money.
    Use interest calculator, enter the months as a decimal of a year, i.e. 4months = 0.3333 year for savings rates depositors are getting.

    www.u.arizona.edu/~avr/finances/scalculator.htm

    These are some example rates from WF:
    www.wellsfargo.com/savings-cds/rates/


    18. Real Estate to purchase:
    [ ] ________________________________
    [ ] ________________________________
    [ ] ________________________________

    19. Invest in gold/silver. Given the new banking laws gold dealers in the near future are going to be restricted to how much money they can wire to gold providers outside of the country,. Subsequently gold from outside of the US (that the US can’t confiscate) will become increasing difficult to obtain making the price of gold go up. This is considered a long-term investment.  www.monex.com

    www.exohuman.com/wordpress/2013/11/typhoon-haiyen-yamashoota-gold/

    [ ] American Eagles,
    [ ] Australian Lunar series
    [ ] Australian gold Nuggets
    [ ] Australian Kangaroos
    [ ] Austrian Philharmonics

    [ ] 500 oz silver eagle boxes 500x$22.28=$11,140.
    1 mil $ get:
    [ ] big bars 1k silver / 400 oz or 100 oz gold bars

    [ ] 100 oz silver bars Johnson Mathew / Inglehart
    [ ] 10 oz silver bars

    [ ] 1 oz Canadian Maple silver coin

    [ ] PAMP Minted Gold Ingots:
    [ ] 1 Troy Ounce
    [ ] ½ Troy Ounce
    [ ] 10 gram
    [ ] 5 gram
    [ ] 2.5 gram
    [ ] 1 gram


    20. Foreign Currency
    [ ] Vietnamese Dong
    [ ] Chinese Yuan
    [ ] Hong Kong Dollar
    [ ] British Pound
    [ ] Canadian Dollar
    [ ] Singapore Dollar
    [ ] Brazilian Real
    [ ] Australian Dollar
    [ ] Swiss Franc


    For liquidity put money into a MCA (multi-currency account) i.e. Canadian dollar, Brazilian real BRL, Singapore dollar, Australian dollar, Swiss franc, Hong Kong dollar, IQN, Great British pound or foreign currency of a country you travel too. You can get a credit card for travel while having currency available where you travel to. HSBC is an international bank that may be a good choice to set up a MCA with. Or get hold of hard currency that can be keep in a personal safe along with precious metals and other important papers.

    Or put your cash into the Bank of Nova Scotia in Canada, buy gold via this bank and borrow cash from yourself off your gold to keep in the account when needed. (Tip from multi-millionaire George Green)

    Set up a secret verbal password that only you and your private banker know. You will use this password to do remote banking by phone when needed…like lifting a spending limit on debit cards or secure transfers of funds for purchases or investments.

    Any funds in bank accounts over 250k need to have additional insurance. For example, Lloyds of London does not cover checking accounts but do for other things – Abbott Downing with WF for accounts with over 25M$. Consider immediately insuring funds in your accounts until you transfer them over to other investment vehicles.

    Check out Lodmell and Lodmell (lodmell.com) for possible asset protection.

    21. [ ] Self-Directed Brokerage Account the purchaser has complete control. It will include a few stocks that are making 5-7% interest. Long-term investments.

    22. [ ] To maintain privacy/security with large investments, obtain PA (privacy agreement) & NDA (non-disclosure agreement) forms for people you do business with. Use them with your attorney / CPS, professional contacts.. another one suited to individuals and gif tees.

    Website that is a good start to get annuities quotes based on the dollar amount to be invested and the type of annuity you are interested in. It is a good place to start but please work with a qualified Financial planning professionals when you are ready to implement a plan.

    www.immediateannuities.com with Hersh Stern

    23. Annuities (get info on the following):

    Deferred Annuities
    Deferred Income Annuities
    [ ] Fixed” Index Annuities
    [ ] Hybrid Annuities
    [ ] Immediate Annuities
    [ ] Permanent Life
    [ ] Longevity Annuities
    [ ] Secondary Market Annuities


    ImmediateAnnuities.com is the website of Hersh Stern, founder of one of the nation’s leading online annuity brokerage firms.

    24. [ ] Setup accounts with limits for your protection. Example: $5000 debit card, $25000 credit, etc. this too is a safety measure and can be modified at will.

    25. [ ] Set up life time insurance for beneficiaries to cover for inheritance tax.

    26. [ ] Always write the words “All Rights Reserved” ABOVE your signature on everything you sign, no matter what it is…. for the rest of your life 


    Source:  http://www.dinarrecaps.com/our-blog/post-rv-tips-and-suggestions-from-rajaf-at-tnt


    http://www.stage2omega.com/post-rv-tips-and-suggestions-from-rajaf-at-tnt/#


    Last edited by Carol on Sat Sep 30, 2017 11:57 am; edited 3 times in total


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
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    Carol
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    Location : Hawaii

    Re: TIPS & SUGGESTIONS (A Personal Guideline) FINANCIAL "TO DO" LIST With Large inheritance

    Post  Carol on Tue Nov 25, 2014 5:56 pm

    Using a CPA /Tax Attorney provides one with attorney-client privilege on financial communications; 
    Bitcoin, Money Market and Brokerage accounts can be risky (if your Private Banker is managing your funds tell him/her you don’t want any risk to principal); 
    Triple A tax free muni bonds are a long-term investment (10-15 years) and according to one wealth manager NOT a good investment / can use short-term CDs instead to hold funds for 2015 taxes due April 15, 2015. 

    Safer investments include:

    • Index Stocks (TD Ameritrade keeps fees low) 
    • Diversified Bond Portfolio 
    • Annuities (life insurance products that guarantee income, deferred tax until accessed, are insured and have death benefits) 
    • CDARS/CDs and 
    • Precious metals (gold, silver, etc. 
    • a Laddered Government Bond Portfolio 
    • a Life Settlement Portfolio by public traded company @ around 11%
    • Texas Tax Lien Certificates @  around 15%
    • Asset protection would include replacing some of your funds with foreign currency and/or moving a portion of assets outside of the US in off-shore real estate. 

    A CPA/Tax Attorney, Estate Attorney, International Attorney and Private Banker make up a good financial team. 

    I still like the idea of flipping a few houses and carrying the loan for the new buyer. If the borrower defaults you always get the house back to resell. This can be a guaranteed income for 20 or 30 years at a higher interest rate then any bank would give you in a savings account. Some loans can be set up with a balloon payment after a shorter period if you want to free up funds to reinvest in something else. Basically you’re using principal tied up in collateral, which is a hard asset. Since taxes were already paid on the principal, taxes would incur annually on interest from buyer’s repayment of loan.


    Last edited by Carol on Fri Sep 11, 2015 10:51 am; edited 1 time in total


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
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    orthodoxymoron

    Posts : 7957
    Join date : 2010-09-28

    Re: TIPS & SUGGESTIONS (A Personal Guideline) FINANCIAL "TO DO" LIST With Large inheritance

    Post  orthodoxymoron on Tue Nov 25, 2014 8:50 pm

    I'd be interested in doing a long-term study of those who spend at least one-hour a day reading and studying The Wall Street Journal (on a long-term basis). I've spent a lot of time looking-at crazy, controversial, and historical subjects -- and it's just about ruined me -- with seemingly no benefit to anyone else. I've gone round and round with certain religious individuals on the most basic ethic topics -- with no positive results -- and many negative consequences. I have been critical of the Torah -- but I envy really smart and successful Jewish people -- and often wonder if they really are God's Chosen People. The following lecture is by just such a person:

    avatar
    B.B.Baghor

    Posts : 1851
    Join date : 2014-01-31
    Age : 67
    Location : Druid county UK

    The coming great transition by Jordan Greenhall

    Post  B.B.Baghor on Wed Nov 26, 2014 3:03 am



    https://medium.com/emergent-culture/the-coming-great-transition-e50d62da77d4


    This is a post on LinkedIn I noticed this morning. One of many signs slowly emerging, entering a whole new world of thinking about society.

    Source: Jordan Greenhall... http://lnkd.in/bbfGtyU

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    Re: TIPS & SUGGESTIONS (A Personal Guideline) FINANCIAL "TO DO" LIST With Large inheritance

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