Chat discussion early morning re: assets/ education / and money management etc. 10/30
This is from this mornings early chat room (10/30) unfortunately the top part was missed but thanks to Dovi who had presence of mid to start copying LOL. we have this THANKS DOVI
a mil or so so it should be fairly easy to figure out, I hope.
9:54 AM [mdglow] belabun , good morning!
9:55 AM [Domino] Morning everyone!
9:55 AM [belabun] in the meantime, as I have mentioned umpteen times, start educating yourselves, - regarding trusts, lots of them out there, be familiar basically with them before jumping in,
Read More Link On Right
study LLCs, study study, go to lodmell and lodmell on youtube for some basic videos, then take from there. etc. anything you think about LEARN ABOUT,
don't take anyone's suggestion just on what trust you may have or not have. ----- this is YOUR life, YOUR funds, and YOUR families legacy ------
9:56 AM [Domino] belabun Excellent point about the banks wanting our deposits
belabun remember, they can then borrow against the total amount like 9 to 10 times more, and they can invest for at least 10% return, and I have been told as much as 20%
9:57 AM [myblifeguard] belabun ..you are right..Bankers will kiss your feet for that kind of money....maybe other sites too LOL
9:59 AM [myblifeguard] belabun ..read Modern Money Mechanics..
10:00 AM [myblifeguard] belabun .also
10:00 AM [mdglow] myblifeguard good morning
10:00 AM [myblifeguard] Alternate server..
10:00 AM [myblifeguard] mdglow hey bud!!
10:00 AM [belabun] I receommended a book, couple years ago ~~ the people who read it were very complimentary --- the Author is Susan K Bradley, she is a certified financial planner (which you should interview 2 or 3 of) but it covers all aspects, from the emotion on, she is very basic, and here is her website, but she has a book out, can't remember the name at this moment ~~~
http://suddenmoney.com/ Susan K Bradley, very easy to understand,
10:01 AM [belabun] IF YOU DON"T educate yourself, you are just a lamb thrown to the wolves!!!! believe me
10:02 AM [belabun] remember , don't to anything major for many months, yes get your home, auto, vacation, etc, but relax with the rest for a bit.
10:03 AM [belabun] click on this link http://peopleinvested.com/forum/show...ed-banks-cdars
the last item in post is very good, more options =---remember FDIC only protects funds up to 250K per account, per bank ------ I am going to park mine, as I intend on tangible items , this is a good read,
also, if you do not have many millions, one can do this easily if have partner to open a/c with. you primary, them secondary and other them primary you secondary. That covers FDIC 500K, in same bank ~ so if have 1.5 mil, heck go to 3 banks or use the other options available.
10:04 AM [belabun] it has an item in that is , imo, much more flexible than straight cdars - but can insure up to 50M with FDIC, now of course we are going to move it into investments, etc, but I need to park until / and while, doing such endeavors
10:05 AM [myblifeguard] belabun Good advice...
10:05 AM [Domino] belabun Here is Susan's book: http://www.amazon.com/Su 71380865
10:06 AM [Domino] It's called Sudden Money
10:06 AM [belabun] This is anohter very very good posting we have in forum again ~~~~ worth reading ~~ http://peopleinvested.com/forum/show...den-Great-info
10:07 AM [belabun] this one is in opinions/rumors, the previus is in off topic, both are stickies
10:08 AM [belabun] Domino thank you!!! it is a great read, appreciate that so much!!!
10:09 AM [myblifeguard] Domino ..good find....thanks..
10:11 AM [belabun] Just do NOT rush into investments!!!!! quickest way to ruin
10:12 AM [myblifeguard] belabun that is the Lottery Mentality....many will do that
10:12 AM [All4HIM] Domino, Belabun, Thank you
10:12 AM [Domino] We are here to make a difference for you - AND we don't charge for that. However as with many you will encounter, TRUST BUT VERIFY
10:12 AM [faith1] Domino i also agree,,, will get our heads abover water first,,, then move forward with our plan !! Thanks so much for your input,, much appreciated,,
10:13 AM [belabun] as I have mentioned many times, I am most likely concentrating on r/estate, and will hold each property in a separate land trust , and they will be held by other entity etc. like how can I say simply, well a big box that contains a lot of small boxes lol
10:13 AM [Domino] faith1 Welcome
10:14 AM [myblifeguard] Domino belabun ..it is a pleasure to see peeps that actually think! LOL
10:14 AM [belabun] if sued by smeone cause tripped over stepping stone, broke leg, gonna sue your hinney off --- well all they can touch is that one property LOL have fun
10:14 AM [myblifeguard] Domino belabun ..Remember myblifeguard's 5 P's..Proper Preparation Prevents Poor Performance....
10:15 AM [faith1] Domino we might even use a few banks,,, to test the waters so to speak.. ! anain all depends on rates ,, fees,, spreads,, how long we have,,, things we are not sure of yet!
10:15 AM [Domino] myblifeguard Excellent
10:15 AM [belabun] you forgot the other P LOL - shut up bella !!! hahaha
10:17 AM [Domino] faith1 To a point yes but remember you won't need to be as concerned about what you pay for things as you are now depending on what you have. I have Chase and WF I will be working with. I'm not convinced I will use thier wealth management people for investing but may just to keep them in my court and to get free advice.
10:19 AM [myblifeguard] Domino ..when word gets out..you will be courted by a lot of peeps offering to seperate you from your $$ LOL
10:19 AM [Domino] It's all about building obligation and wins for someone else. If I can do that, I get what I want but I have to know what they want first. Listening and understanding are good interviewing skills to have in this.
10:19 AM [belabun] Domino very good , yes, if high enough status $$ banks have a bevy of professionals that you can consult with, you don't have to use, but they sure would like you to. everything from soup to nuts and if high enough value, they will fly in to meet with you.
10:19 AM [belabun] I know that for fact
10:19 AM [belabun] each bank has different levels of "managers LOL"
10:20 AM [Domino] myblifeguard You will & can be afraid of that just smarter!
10:20 AM [Fresh] myblifeguard myblifeguard belabun belabun faith1 faith1 Domino Domino GM all
10:20 AM [Domino] Fresh Cheers to ya sir
10:20 AM [belabun] gm fearless leader ---
10:20 AM [faith1] Fresh Fresh Good Morning fearless leader !!
10:20 AM [myblifeguard] Domino ..we are well situated in that respect...have friends with $ to arrange introductons...
10:20 AM [Fresh] How's everyone doing Today?!??!
10:21 AM [belabun] Dovi - I believe you have the one re fdic already will send the ohter, ok?
10:21 AM [Domino] myblifeguard Good, that is a big help but make sure you know what you want and choose for your plan, not because someone you admire referred another.
10:22 AM [Domino] brb. . .
10:22 AM [rollonjohn] Good morning everyone!
10:27 AM [belabun] rollonjohn moring there !!! happy Wednesday~ I just thought about that , heck Number is not here with the hump day youtube LOL
10:28 AM [Florida Country Girl] I seen this morning that our VP met with Maliki at 8:30 this morning oh to be a fly on the wall
10:28 AM [belabun] darn, should ahve had soemeone copying that info from earlier ------ lots of good stuff out there
10:28 AM [belabun] messed up!!!!!