Millionday & People Invested Chat
Suggestions for rv preparation (add any helpful info)
millionday] and first lets use a disclaimer and say -- we at PI are not responsible and are not experts in investment advice -- this is strictly for fun and should not be used in your everyday life etc etc
[millionday] first --- lets say what the first thing you should do is 1::::::::::;; get out your notebook
[millionday] now the first page should be all your phone numbers -- so lets list them you put the name and fill it in later
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[millionday] house sitter
[millionday] pet sitter
[millionday] child sitter
millionday] --- doctor
[millionday] exchange house you will use
[millionday] job to quit
[millionday] find out where you can cash a note in locally and write that down with number so cash is not a problem
millionday] write down airlines number
[millionday] lock in rate with who you will cash in with
[millionday] you need a private banker and an accountant -- so this is what i want you to do
[millionday] find an accountant now -- this is a local person that you will send all expenses to all the time -- someone that will get your bills and receipts etc throughout the year
[millionday] you will also have a quarterly person -- tax attorney and wealth manager -- these people will double check each other if you have trust issues and you should
[millionday] the accountant will send quarterly reports to each of these people so all oif that will be done after you get settled down
[millionday] remember you will be shaking and very nervous and feel lost it will be hard to have confidence in what you know and what you should be doing so this note book is very important
[millionday] and we mean a hand written -- and of course the info will be in a notebook and puter -- day planner etc -- but you need this for being silly and losing everything -- trust me
[millionday] all of your phone numbers need to be written down in a paper notebook -- you want to minimize the cost of an accident so your nerves can stay as settled as possible
[millionday] if you are buying a house right away -- you need your realtor number written down so you can tell them to get busy
[millionday] you need a title search -- survey and termite check -- etc etc -- so make sure and have a new number for business to get through to you -- this may sound crazy but there are things you can do now
[millionday] i want you to make sure that as soon as this hits -- you insure everything -- the first person to know that is not a nice guy (even though you should tell no one) will fall in your yard and sue you -- also
millionday] know that if your dog has ever had a tooth come in -- the neighbor will sue you -- etc etc -- insure everything to the max -- including you -- and let me tell you why
millionday] everything changes --- see if you go to the hospital now -- they make payments etc -- say you are a self employed painter or whatever --- a broken leg or surgery can cost you a quarter of a million dollars if they decide they want a new wing --- you know what i mean
[millionday] make sure you call and find out rates now -- this is something you can do to prepare ---
[millionday] how much is the local dog boarder ? this is something you can find out now --
[millionday] so make a list of all things like this and make the calls and then make a very neat folder ---- if you are broke -- these are steps you can make now
[millionday] write down what you are going to do with all of your old belongings--- for instance -- you are buying a new car -- so are you keeping yours?
is there someone God has shown you lately that needs one so bad ? ---
everyone`s situation is different -- so this is something you can do -- also ---- the things you have -- what stays and what goes ? this is also something you can do --
it may seem crazy but you would not believe what you have to do after the fact -- these are things to minimize stress for you
[millionday] get a separate notebook for this that i just talked about -- it is not crazy -- it is necessary and fun -- now lets cover some more serious things
[millionday] many have asked me questions that many are embarrassed to ask -- so lets talk about those things
[millionday] what is asset protection? it is not insurance or a shot gun it is for your name and is very simple to understand so lets talk about it
[millionday] when someone runs into your car or something stupid happens -- they actually try to find out if you have money --- so the way they do that is they google -- or hire someone --- so what asset protection is -- is this
[millionday] when they pull up who owns the yard they fell in or car they hit -- with asset protection they find a business owns the house and a business (another one) owns the business that owns the house -- and then your llc owns the first business that owns the one that owns your house ---
[millionday] see this way -- they are not able to find your personal name to sue you and the law protects the company from someone being able to find out all of their business and what is owned -- get it ? the asset protection in real easy terms --- puts your name deep so that they dont find out who to sue and the llc has insurance but isnt involved etc
[millionday] an attorney is going to explain what is best for you but this little info is typed here so that you are not in the dark when they start talking ---
[millionday] everyone has different situations and that is what they are trying to create --- a cushion so you can not be held responsible and someone can take what you have own nothing -- control everything --- yes
millionday] you should be the manager of a great company with a salary ----not the owner of millions and etc etc
[Papatom] may I interject a little something?
[Papatom] each county in America keeps records of who owns what property. that is where people check public records to see what you own.
[Papatom] what millionday is saying is that if you put property in a business name.... you don't own it. but you own the business...not a property....so indirectly you still own it. easy?
[belabun] Land trusts, held by LLC each property in separate land trust
[lorijeanmarshall] Papatom Isnt that a trust?
[millionday] so what i am saying is that the wealth manager is going to be talking to you and this is what they are talking about when you go -- so you are not completely in the dark
[millionday] no we are not talking about trusts not yet
[Papatom] lorijeanmarshall not directly.. it's a process that would include a trust. Millionday said up above...you need a tax attorney...and an asset manager....they'll know what you need to do
[millionday] lets try to stay to one thing at a time so we can write it down and make sense right -
[lorijeanmarshall] millionday I'll just read later in the forum. Got stuff to do.
[millionday] lori -- what i am saying is that you need a list of people which i am going to make here in just a sec
[millionday] but someone asked me what asset protection was in a pm -- and that is the easiest way to say it i could think of and i knew someone else probably wanted to ask too
[millionday] now this is the thing -- you have to talk to professionals have to
[millionday] but i am like you --- none of us want to go to talk to anyone without a clue of what they are talking about
[Papatom] and don't shop for the cheapest deal this time....buy quality advise!!! you'll get what you pay for in this level of need.
[millionday] so we are going to cover a few basics -- to explain so when you go -- it makes sense so now lets do something different and little slower
[millionday] this is for a page of people you will need to choose -- so this will be a list to write down right now -- and then with research and help if you need it -- we will find the best one in your area or you will
[Domino] People who inherit money, sports figures, and the newly wealthy in general typically loose everything within 3-5 years and there's a reason for that.
[Domino] We need to learn how to deal with money the way people who have it and have learned to take care of it and themselves do
[Papatom] while we wait.... don't exclude yourself from those that need professional help, if you own any dinar at all. YOU WILL. good advise. someone to run EVERYTHING YOU DO by for a professional opinion....advise on everything....so you will be protected from the wolves in sheeps clothing.
[Domino] That take time, patience, and most of all educating ourselves
[millionday] so i want to do an exercise that is going to help us all get out your paper now what we are going to do is this '
[millionday] right now we are wanting to make sure we dont make any mistakes and this is why
[millionday] part of the plan this revalue holds is the people that are going to be broke in two or three years so we dont want any of us to be those people and this is what we are going to do about it
[millionday] we are going to employ the people that are educated in what is happening and we are going to also know this one thing that someone very smart told me and remember this everyday
[millionday] the smartest man -- or woman ---- is the one that is smart enough to say "I dont know"
[millionday] so the point is --- dont pretend you know about something that you dont -- and get all the help you can to keep from being that statistic so lets do this very slowly
[millionday] we are going to all put out a need that we have thought of -- and just one and a specific one -- i will start and then each of you put one out too so it can be written down
[millionday] 1. Tax attorney
[Rudie] asset manager
[Hunch] Wealth adviser
[Rudie] personal shopper smile
[MatCauthon] Realestate agent
[Florida Country Girl] Doctor (def am going to need one after this) lol
[Candre] Wealth Strategist
[millionday] travel agent
[werblessed] insurance agent
[Flygirl02] Md. I have a question when it is ok
[Dovi] Estate attorney
[millionday] private banker
[Domino] Insurance - both life and casualty
[millionday] Flygirl02 ok hun
[piuser64] phys trainer
[werblessed] private banker
[millionday] interior decorator
[Domino] Mortgage professional
[Dovi] Best bank
[Domino] Reliable General contraction
[Dovi] Best Fat Farm
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