Question = pegasus0ne: Freeway Bill...a couple of questions for you.
I read NK's summary post this morning and a couple of Jonnywg's answers to the question posed have me a little confused.
1) Someone asked if it might be a good idea to wait until January to cash in, I assume to push this new found wealth into the new tax year....he responded with 'NO' and then followed that up with 'it's better to have 50% of something than 100% of nothing.'
2) Someone also asked him if there was time to cash-in a small amount and take the time to set up the financial tools to handle the funds properly, ie foundations, trusts, etc. and his response was, again, 'NO'
If you speak with him on a regular basis some clarification would be nice. I'd also really like to hear from the guys here at PTR regarding these responses, if they have any foundation? We are constantly being counceled to cash in a small amount, take care of setting things up properly and then cashing in. I'm all set up so not too worried but this is something that should be discussed and cleared up for the entire PTR membership. Thanks pegasus0ne
Reply - FREEWAY BILL: For both questions, I believe like Jonnywg. # 1 You have to pay the taxes anyway and pushing them into the next year would certainly be to your benefit but also remember that this is moving rate once it hits and it could go down. In fact, it is expected to after an initial honeymoon period, to go back up gradually until it gets to where Shabibi wants it at a later date. So he is trying to tell you that the rate you get in November may not be as high as what will be there in January. # 2 I have checked this one out myself. You can deposit all of your money into a non-interest bearing checking account and then set up your LLC and Trust accounts, so why wait to cash in for this? Consult your professional for a better outlook on this. As for me, I will be cashing in as soon as I can accumulate all of the dinar that I have sitting in 3 states if the initial rate is anything but an RI.
As for the much questioned remark of "It saddens me" This was about the bashing that Jonnywg has taken when I know where he gets his information and how credible it is. This guy is spending 24/7 on this to report to all of us for FREE. Where I work a 50 hour + week and dive into this at night, Jonnywg is working all day and then still working on it at night as well.
I hope that answers all of your questions, but I am sure that Jonny feels as I do that this is your blessing and you should handle it the way you are more comfortable.
Read More Link on Right
Reply #2 - FREEWAY BILL: AFTER READING MY RESPONSE TO YOU, I REALIZED THAT I MISPOKE.... THE RATE THAT COMES OUT AT THE BEGINNING MAY BE HIGHER THAN WHAT YOU SEE IN JANUARY.... SO SORRY.... THE PLAN THAT I HAVE HEARD, AS JONNYWG HAS HEARD AS WELL IS THAT THIS MAY COME OUT AT A GOOD RATE .... STAY THERE A SHORT PERIOD LIKE 30 DAYS AND THEN GO DOWN TO WEED OUT THE REST OF THE "INVESTORS" BEFORE IT WILL GO BACK UP GRADUALLY, EVENTUALLY ENDING UP AT THE RATE THAT SHABIBI FEELS THEY CAN LIVE WITH LONG TERM.
Along with that thought, we are dealing with a country that is unstable still and so if you get a good rate now, why would you not cash in, call it a day and start enjoying your windfall? GOD has given me the wisdom of "How Much is Enough?" so you can see why I am saying that if we see a rate of $ 4 + which I sincerely feel it will be significantly higher than that, you will see FREEWAY BILL hit the FREEWAY to the BANK to gratefully cash in all of my dinar so that I can start spending my time GIVING FORWARD and enjoying this blessing. Going back to spending time with my wife when I am not working would be very nice considering that she has not had my attention for more than a minute or two here and there for a long long time. This has went on long enough for me. After San Francisco, my wife and I plan on working with the less fortunate and causes in need for the rest of our lives... sounds like a great plan to me!