Things to Consider or help round out your Final Plans -- Worth Printing or saving as document
I posted this last year, and I just wanted to bring it forward again for people whom may have not seen this. For those that did, please bear with me..
Things to consider with your new found wealth. Some items you will use, others may not be for you. Do what you feel comfortable with, as I am just trying to help you round out your plan…
1) Do your due diligence, Choose your bank (s) carefully, and set up CDARS (Certificates of Deposit Account Registry Service) accounts and all accounts should be POD (Paid on Death) accounts.
Do not deal with banks that have derivatives and hedge funds. Look for institutions that have a AAA rating. Consider banks that hold multi-currency accounts.
For an added level of protection consider insuring your money with lloyd’s of London. Even most brokerage accounts are fully insured.
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If you know someone who is wealthy, and I mean really wealthy, ask them. You can also check here http://www.martindaleratings.com/av-preeminent-lawyers.htm Set up your family’s trust(s).
3. A guide: Set aside 15%-20% of your new wealth for your “mad money” and use this amount for your flings into wealth. This is your payoff for your dreams and frustrations.
If you spend more than this on new homes, automobiles etc., you are on a well known pattern of blowing it all. Of course this will depend on how much you have invested and how much it RV’s for. This is “just a guide”
4. Invest the remaining 80% -85% [after taxes] in safe high paying interest insured CD's etc. Your in the big leagues now, banks will want your business. They have private bankers and high wealth options for investing. That have proven track record. Again, do your due diligence here…
And don’t forget, you can look out side the US for good rates, Panama is paying up to 7% on large CD'S. Dubai is paying up to 10% on the same amounts, Check Cyprus as they have been in the 10% bracket also. Pay the interest to a debit account, spend and live on the interest with a Debit card.
These monies can be split up in multicurrency account to help keep depreciating currencies from taking your earned monies. Depending on how much Dinar you have to cash in, there could be a lot of interest; to be almost as exorbitant as you like, living the life so to speak.
A 10M savings here or off shore could bring you interest of $700,000 to more than 1M a year in income. I am sure you could survive on that …lol Always do your due diligence and seek professional help to setting these up.
5. Get an unlisted telephone number. for your home, with caller ID. For a private home phone, use a company name or your Trust when setting up a new phone account, rather than your own.
6. Keep things low key and quiet as you don't want long lost friends and family members bothering you. Some will eventually find out, but you need time to put your plan into action.
7. Remember #2, everything you buy will be taxed yearly either in Real estate taxes, sales taxes and or personal property/ luxury taxes, and if you live in one of the States with State Income taxes, you will pay the State on all interest earned and not to mention on the principal amount when it is received initially.
Think about this statement.... Maybe move to a State that has the lesser of the applicable taxes or no state taxes at all. All States are creating new taxes daily to preserve their bloated Beauracracies under the guise of service.
Check with the professionals on this, but most states have guidelines on how long you must live there before you can take advantage of of the lower taxable income/ no state taxes.
8. Pay off ALL debt.
9. Fix everything that needs repair.
10. Upgrade your insurance; medical, personal/ life, home, auto and really consider getting umbrella insurance it’s cheap enough.
11. Stock up provisions, necessities, medical and survival items to get you and your family through any type of emergency. Get enough for 8-12 months. You will have the money. Hopefully you won’t need it, but you will be thankful if you/ family/ friends do...
12. Set aside enough liquid funds for you to survive for 8 months to 2 years. What ever you feel comfortable with.
13. Invest in precious metals (gold & silver). Do your due diligence here. Everybody has their own preferences, do what you feel comfortable with. Make sure you have access, but it is secured. Never tell anybody, except maybe your spouse how much you have and where it is kept. No exceptions…nuff said This is why I mention having two safes below item #21-G One hidden, one obscure.
14. Attend seminars to learn to make money through GOOD investments, not schemes .
Learn about your investments, understand them, watch them like a hawk. As a good steward, it is your responsibility and no one else’s…
15. PAY YOUR TAXES!
16. Pay your tithe
17. Pick your friends judiciously.
18. Contribute to Charity on a fixed rate yearly; do not over contribute as they ( most of them ) spend money like drunken sailors as they contribute increasingly lower subsidies to the needy.
This should be done through your corporation/ trust for benefits and anonymity. This is another area that should be discussed and planned with your tax/ CPA professionals.
19. Change your lifestyle to a calmer existence; find peace and harmony with yourself. Find a compatible travel mate if you are single, travel the world into safe places and educate yourself to their way of life, as it helps you understand how they think, rationalize and perceive americans.
This promotes peace and harmony within you, while hopefully building perspective and insight. Do NOT flaunt your wealth, especially when your are out of country. You can very easily become a victim of crime not to mention a victim of abduction.
Consider getting a second citizen passport that will let you travel freely but not as an american citizen. Many law firms can help you with this. It not as expensive as you may think.
20. Someone will be "watching you" so you'll want to do the following:
Be very low key (non-descript) Lower your profile; do not flaunt your new wealth as the tort laws in this country allow Trial Attorneys to target you as a defendant. Trial or Tort lawyers are the only profession that never contribute to society but just create misery so they can take your rewards for your hard work.
There are some good books on becoming invisible, buy one and follow as much as you feel comfortable with. Your Trust will help you in these some of these areas. You will want to heed this advise when traveling outside of the united states, you can and will become a target. Do Not become a victim…
21. Think about personal/ family safety.
A) Open up a secure Email address.
B) Get a new cell phone number; cancel the old one. Get a cell phone with two sims cards, one number is for family and close friends, the other for business or ???
To add a further level of phone privacy, purchase a prepaid cell phone – such as those offered by Trac Fone through Blockbuster, WalMart, and Staples.
No name, address, credit check, etc. is required to set up an account, and you can buy phone cards for cash to add more time.
C) Get a P.O. Box. Receive all mail personally addressed to you at a nearby mail drop, such as Mail Boxes, Etc. (about $15 a month), or an Executive Office Service ($50 to $150 a month), or at the address of a friend who owns a nearby business (free).
Then use this address for your driver's license and car registration. Naturally, your car will also be registered in the name of your corporation/ trust.
D) Put a monitored security system in your house. Install high security locks. Medco and Mul-T locks they are pick, bump and drill resistant. Schlage Primus are good locks too. I believe these locks all have a patented key systems.
Only a locksmith can duplicate keys for you and only the people you list, can go in and get a copy done.
E) Install reflective film on your home windows.
F) Consider building a safe room.
G) Install two safes, one hidden and the other obscure.
H) Get training in self-defense / firearms.
I) Use PGP (or better) encryption on your computer and Email.
J) Don't trust anyone ... keep your friends close and your enemies closer.
K) Shred or burn important documents. The U.S. Supreme Court has ruled that it's 100% legal for snoops to rummage through your curbside trash and keep any papers they find.
So never throw any important papers in the trash without shredding them – including bank and credit-card statements, utility bills, letters from Social Security or other government agencies, information from your stock broker, etc.
At a minimum, use a cross-cut shredder ($100-$150) which reduces documents to confetti, rather than a less-expensive shredder that cuts paper into strips which can be pasted back together.
I will use a level 5 or 6 shredder, because I will have the money and security will be important to me. For ultra-sensitive documents, nothing beats burning them.
L) Isolate sensitive computer files from snoops. As we use our computers more and more to keep sensitive records and correspondence, it becomes more important to protect them from snoops.
The #1 threat to your sensitive files is your modem, fax, or DSL Internet connection – anything that electronically connects your computer to the outside world.
Thanks to cookies, e-mail wiretaps, and other techniques, when you're browsing the web or reading your e-mail, snoops at the other end can download files from your computer hard drive.
The only sure way to protect yourself is by keeping all sensitive information on a different computer (or at least a different hard drive with its own, separate operating system) than the computer you use for web browsing.
In other words, you use Computer #1 to browse the web and send e-mail; and you use Computer #2 for word processing, accounting, and storing important information. Computer #1 has no important files or sensitive information.
Computer #2 has no electronic connection to the outside world.
To minimize expenses, your two computers can share the same keyboard and monitor, by the addition of a network hub (about $100).
M) Keep your web browsing and e-mail private. Whenever you contact a company or organization on the Internet, the computer at the other end will often insert a "cookie" into your computer – enabling merchants and government agencies to keep track of your web browsing.
The information that can be collected about you in this way is absolutely mind-boggling and includes your name, address, phone number, detailed information on the type of computer you are using, your Social Security number, credit-card numbers, a list of your friends and business contacts, and much more.
To keep your web browsing private, use an anonymous connection service, such as Anonymizer (http://www.anonymizer.com).
Another alternative is Hushmail, based in Anguilla, which offers a free e-mail service that allows you to encrypt e-mail using ultra-powerful 1024-bit encryption.
For further protection, encrypt your e-mail, using high-level, 1024-bit encryption software, such as Pretty Good Privacy (PGP). http:// www.pgp.com
Zero Knowledge Systems (ZKS) offers software called "Freedom" which also uses 1024-bit encryption and which:
1) Allows you to use multi-pseudonyms that can't be traced to your real name
2) Prevents the receipt of Internet cookies
3) Provides multi-layers of encryption
N) Keep your medical records more private. Information in your medical files can be used to deny you insurance, jobs, and legal benefits. It could be even used by a government just slightly more authoritarian than the one we now have, to take away your children or commit you to a mental hospital.
Unfortunately, each time you see a doctor or check into a hospital or clinic, they will usually demand your Social Security Number, which in turn will be used to file and locate your medical records.
You can protect yourself from unwanted snooping by getting an alternative Medical photo ID from ID Network (IDN). No SSN is required, and medical records are kept in your own handwriting. $9.95. Call 1-888-329-3686 or 314-416-7411, http://www.idnetwork.com
O) To keep your home address private, rent or buy your home in the name of an out-of-state corporation (Delaware and Nevada corporations (NOT LLC.) or trust are the best).
Also put your utilities in the name of the corporation/ trust, as well as your phone, and magazine and newspaper subscriptions. This is precisely what TV personalities, professional athletes, and film stars do to protect their privacy.
And it's not expensive. A Delaware corporation can be set up for as little as $150 and maintained for $50 a year! Trust will vary in cost (Just my two cents below)
22. Pray for guidance but please do not turn into zealot, as this can override your mindset to a point you will not recognize happiness when you see it.
Everything in moderation, be truly happy for you are blessed. Be a friendly person not someone who is critical of others lifestyles and their views on faith. Recognize everyone is born free and with their own opinion.
23. Make sure to personally change at least one persons life for the better, pay it forward… Personally, I will pick 5 people and change their lives forever….I am hoping they will do the same. Whether they do or don't, makes no never mind to me. I will know in my heart, and God sees everything. Maybe one by one, we will help to rebuild this great country again.