MariG Posted August 11, 2010 Report Share Posted August 11, 2010 Two questions regarding the CASH IN GUIDE: 1. Adam - what do you consider as a good amount of dinar cash to have if you just started at the beginning of this year? 2. If you gifted the dinar and the receiver cashes it in, wouldnt they be responsible for the taxes on that? Thanks Link to comment Share on other sites More sharing options...
Maynard57 Posted August 11, 2010 Report Share Posted August 11, 2010 Two questions regarding the CASH IN GUIDE: 1. Adam - what do you consider as a good amount of dinar cash to have if you just started at the beginning of this year? 2. If you gifted the dinar and the receiver cashes it in, wouldnt they be responsible for the taxes on that? Thanks MariG: Greetings and Salutions! You are most welcome here and thanks for your questions. They're good ones. First thing, Adam is a pretty good guy, even though he is from Wisconsin. I can't forgive him for that, but perhaps others will. Look for his post which he is graciously providing to non-VIP/s free. I read it and you should too. As far as gifting, you want to talk to an estate planner in your jurisdiction. I'm a pretty good lawyer, and I think that is good advice under these circumstances. Again, wellcome MariG. Be with us and rock on. Maynard 1 Link to comment Share on other sites More sharing options...
MariG Posted August 12, 2010 Author Report Share Posted August 12, 2010 Thanks Maynard...but can you be more specific as to which article I should read by Adam. Link me there.... Thanks a bunch! Mari Link to comment Share on other sites More sharing options...
Mammaw Posted August 12, 2010 Report Share Posted August 12, 2010 Maynard, or Adam...I was reading the guide and I understand a great deal more now, in regards to spread, etc. However, since I opened the WARKA account, will the "cash in" be similar? Will the spread be based on what WARKA charges? I see now why it is so important to be a part of the VIP and hope to have a J.O.B. soon, so as to be able to do it. I have been working as a temp Admin and my contract is up on Tuesday. I am concerned that I am currently living in CA and due to tax reasons and the times I am wondering if relocating back towards the east is probably the best thing now. I am fortunate enough to be able to get in my car and go. I may be a little on the older side...but I can still drive, and I can still work. But I am curious about the spread on the WARKA funds. Link to comment Share on other sites More sharing options...
Doc31 Posted August 12, 2010 Report Share Posted August 12, 2010 Thanks for the post Link to comment Share on other sites More sharing options...
Adam Montana Posted August 13, 2010 Report Share Posted August 13, 2010 Maynard, +reps for the helpful response - thank you! Mawmaw, regarding Warka - I personally just use it as a hedge, for reasons I mentioned in my book. Warka actually scares me, because if they decide to give a worse spread - we have to take it. As a cash investor we may have more leverage. I still believe it's important to diversify as much as possible. So the answer to your question is I don't really know how Warka will handle the spread. Since they are in Iraq, the CBI may force them to honor a different spread than they give the rest of the world. It's hard to say at this point. Two questions regarding the CASH IN GUIDE: 1. Adam - what do you consider as a good amount of dinar cash to have if you just started at the beginning of this year? 2. If you gifted the dinar and the receiver cashes it in, wouldnt they be responsible for the taxes on that? Thanks 1. Depends on your personal risk tolerance. Rule of thumb - treat it like Vegas. Don't spend more than you can afford to lose, because there are no guarantees here. 2. Most likely, yes. There are exceptions. If you gift it now, when it is of little value, you should have nothing to worry about. Just make sure you document it! Link to comment Share on other sites More sharing options...
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