[Rilee] As many of you know, I am a former owner of a Dinar Forum. Thru a unique connection, I found a local Dinar investor who works for a Financial Investment Company.
[Rilee] After talking with her, I realized that I was wasting precious time. All the hours I spent hunting down the next chat, or looking for the elusive RV, I wasn’t getting prepared for my own future.
[Rilee] As of right now, I am still not completely done, but it has taken me months to get this far.
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[Rilee] They work for me, I am using them as an example, you may choose to go with them, but if not, PLEASE! Find ONE! Enough of the background, let’s get to the good stuff.
[Rilee] The very first thing you need to do is establish goals. As individuals, each of you has different goals. Even if you are in a relationship, each of you could have different goals.
[Rilee] Your dreams of financial independence are unique. Based on your age, demographics, current debt load, health, risk tolerance, etc., this all figures out into your plan.
[Rilee] For example, your age….if you are 20 years old and want to make your money work for you throughout your lifetime, based on your dreams and goals, how much money do I need to live out that lifetime?
[Rilee] You want your finances to outlive you, especially if you plan on leaving a legacy.
[Rilee] Planning to make your money last a lifetime depends on your lifespan and your future lifestyle. Do you want to travel?
[Rilee] Relocate? Buy a new home? Do you want a paycheck from your investment every single month?
[Rilee] People are living longer now, and that is taken into play when planning your financial future.
[Rilee] Do you want to start a new business like Mr. Kaperoni? Or do you plan to never work again?
[Rilee] Sit down and identify your dreams. When I did this with my husband, we realized that some of our dreams were not the same.
[Rilee] That’s not a bad thing, but it opens up a line of communication in where you are DOING something about your dreams and it does make it more real.
[Rilee] Your financial advisor will need to gather a lot of information about your current life. Previous tax filings, paycheck stubs, life insurance policies,
[Rilee] , 401K information, any current investments you hold like stocks or bonds. They need all this information so that they can bring your current situation
[Rilee] and your new found wealth together in a way that will diversify your investments.
[Rilee] Many people ask me for the ONE hint or tip I was given in this process. They want to get rich and have it all done for them the easy way.
[Rilee] In reality, this has been an easy investment. Low cost to get in with a chance to get rich! Moving forward, if you expect to maintain your wealth throughout your
[Rilee] lifetime, you will need to do the work yourself. There isn’t a stock tip to give you. You have to do the work yourself, thru a Financial Planner.
[Rilee] Someone you trust who has a proven background. They gather all your information, analyze the current information, propose recommendations and then take action.
[Rilee] Once that has happened, they track your money for you in a way that reduces your tax liabilities and increases your wealth.
[Rilee] I am not an economics major so I don’t know how to do this myself. Even rich people have someone else managing their money. That’s why they are rich.
[Rilee] How much money will I need to retire? Everyone wants to know that answer. It depends on how old you are, what your health issues are, where you live, etc.
[Rilee] . And it also brings back the same notion of: What are my dreams and goals. No two plans are alike. Some people are riskier than others
[Rilee] Some are younger or older. This process has taken our family almost 4 months in the making.
[Rilee] We have spoken to a trust attorney, but have not made a commitment with him. And we have yet to speak with our tax advisor. So I still have work to do after 4 months.
[Rilee] This process is not quick!
[Rilee] I decided that my time was better spent pre-RV to work on post-RV plans. I do not regret a moment of it. It has solidified my trust that this IQD will reevaluate and I will have wealth.
[Rilee] I don’t want to get a call that it’s RV’d and I want to cash in and where do I deposit the money? In my CHECKING ACCOUNT?
[Rilee] And then what? Shop? Well the malls close too! So you need a plan based on your individual dreams and goals.
[Rilee] And how much dinar you actually hold is not an issue, because we don’t have a rate. How much money you earn now is not an issue, because you will soon be wealthy.
[Rilee] . What I found to be important was that I stayed wealthy.
[Rilee] What areas do you want to diversify? There are Asset classes like stocks and bonds, real estate etc. Then there are investment products like mutual funds and annuities and then Tax Characteristics.
[Rilee] Taxes will be an issue with investments. Not just the capital gains tax. When you diversify your funds you are able to look at Tax Free, Tax Deferred and Taxable sectors
[Rilee] They also take into factor the Income Tax History for the US. Do we plan on seeing an increase?
[Rilee] ? Right now the US is at 35% but at one time from the 60’s thru the 80’s, the tax rate was much higher. Do you want to keep track of that? An advisor had access to data and a way of deciphering it better than a layperson.
[Rilee] I didn’t understand a word of it, until it was explained to me in plain English by a professional.
[Rilee] When you reach out to an advisor, you have someone to watch out for your cash and liabilities, handle your protection like insurance etc, your investments and your taxes.
[Rilee] . I didn’t think that Life Insurance would have to be taken into consideration. But based on your needs, a Variable Universal Life Insurance Policy can actually make money for you and offer some tax protection.
[Rilee] An advisor can help with your personal preferences.
[Rilee] Another factor is “where are you in your life?” Are you getting married? Purchasing your first home? Do you need to plan for your children’s education?
[Rilee] What about paying for your kids wedding? Are you a Grandparent?
[Rilee] Hopefully at that point you will want to say you have reached financial independence and plan for retirement? Once again, you want this money to outlast your lifetime.
[Rilee] Are you leaving a legacy? Did you know that life expectancy for women is 84 years old, but men tend to only make it to 82 years old?
[Rilee] ? Do you want to plan on having money set aside for Long Term Health Care? Maybe you want to be able to stay at home instead of going to a home. Plan for that.
[Rilee] Your dreams and goals will be different from everyone else just because of where you are in your lifespan and what you hope to achieve during this wonderful life! Dream Big!
[Rilee] The benefit of having a personalized plan is that your start focusing on your goals. Forget about short-term market conditions.
[Rilee] They will assess your risk tolerance, rebalance during market volatility, take into consideration and help you neutralize the inclination to make emotional investments.
[Rilee] Now is the time to plan ahead on major purchases and life goals.
[Rilee] I have bored you all enough right now. You are probably thinking you will never get the past 30 minutes of your life back and why did I log on…LOL
[Rilee] if you ARE thinking that, my point has been well made. While we are (were) sitting on the forums or on conference calls, we could be getting all the above planned AND STILL RV!!!!
[Rilee] After Moderating, Administrating and owning a dinar forum, I have spent countless (no Thousands) of hours over the last 7 years on Forums. I was reading/reporting rumors, reading news.
[Rilee] . And had it RV’d back then, I would be either broke today or it would have taken the first 4 to 5 months of my new found wealth to get all this in place BEFORE I cashed in.
[Rilee] For any of you that know me, this is the LAST thing I want to do when this hits. I have been privileged to have made many friends in this investment and due to a friendship,
[Rilee] I was able to get a head start on this process and do it right. NOW ITS YOUR TURN! It’s not easy, and I WANT TO HELP!
[Rilee] Again! Kap,Thank you for giving me this platform to share the experience with your members. If you walk away with anything, please let it be that you need help managing your new found wealth.
[Rilee] There is no better time to begin this process. I would like all of us to become success stories! This is what I do now, manage my money and work with those who can guide me along the way.
[Rilee] This is my full time job. And I have no money now…LOL Can you all imagine what it will be like with Big Money!