Montana

We were wondering about peoples experiences with putting Dinars in their IRA with companies other than ENTRUST? Such as NAFEP.COM, AMERICAN ESTATE & TRUST ETC ETC Anyone out there gone this route? Thanks

Hi, I would just like to mention another company: NAFEP.com I moved some of my funds from one Roth IRA into a self directed Roth at NAFEP. It was fast & easy and they have a sister company that can hold Dinars for you (gold too) . BTW I have spoken with Mark (The Attorney making these posts) and he is the most helpful, approachable attorney I have ever spoken with. He doesn't try to act like he knows everything, and is willing and able to do research. Thank You Mark! I think we're on our final lap! Can't you see the finish line?!?!? Montana (not Adam)

Hi Soldier, Thank you for your advice. I suppose you could be right about your assertions. I would imagine that you yourself, along with a couple hundred thousand others hope you're wrong. And you don't come across as a bad person to me, just an angry dis-agreeable sort of guy. Keep an eye on that blood pressure. But, your assertion that only poor lower middle class people are on this site is ludicrous (Ludicrous- adj. Laughable or hilarious because of obvious absurdity or incongruity). I personally know just a small fraction of the people who frequent this site . But among those I do know I can assure you they are not poor or uneducated, unless you consider several multi-millionaires(One with a net worth over a half a Billion )Attorneys, CPA's, Pilots, and MD's to be poor and uneducated. You may scrutinize my credentials and conclude that I too am a poor uneducated lower class person but I can assure you that the IRS does not share your opinion, I wish they did. I suggest you do a little deep breathing, go for a walk , get your meds adjusted and then re-read what you have written. It will help you to get over your embarrassment to know that we won't hold it against you, or even remember it in an hour or two. Be Happy

Hi Rick, I agree that discussions pertaining to religion are often frustrating and a fruitless waste of time. But for some reason when I read your post a few thoughts popped into my mind, I hope you don't mind if I share them with you. There is a vast difference between religion and and God Himself. Knowing God, experiencing God and sharing the events and interactions between us and Him has nothing to do with religion. Sharing stories of His goodness and faithfulness in our lives has nothing to do with religion. Sharing how He reveals Himself to each one of us in unique and personal ways is not about religion. This is much more than just semantics. The difference is literally life and death. Religion, as often thought of is, well, being religious i.e. going to church( I'm not saying that it's wrong to go to church), making sure one follows the right list of things to do and more importantly the list of things not to do according to the doctrinal understanding of whatever church you attend. Religion in general is a system of works that if performed well enough will keep you out of trouble with god. Discussions about this type of religion are definitely to be avoided. Jesus did not come to give us religion, He actually came to set us free from it, and any other system of influence in our lives that would separate us from Himself and the abundant Life He purchased for us. (see John 10:10). You see, God has done such spectacular things in my life (such as healing me instantaneously from severely advance Leukemia, healing my wife from breast cancer, healing my daughter of autism and countless other miracles of greater or lessor magnitude including multiple financial ones) that I cannot not talk about Him. I don't just owe Him my life, He is my life. He created me, I did not create Him. He is always with me and there is no way to avoid sharing the greatest reality in the universe with others. A God that is so near, so real, so big and so nice is really hard to ignore. A God that was willing to suffer and die for me is a God worth discussing. If anybody read this far, don't worry, be happy God is never sleepy or distracted from you.

Yes Eagleman, I agree that there should be term limits. Every person voted in should be guaranteed at least two terms. After we, the people see how they govern during the first term then We the people will decide if their second term will be spent in office or prison! I'm me, and I approve this message.

WOW! That's awesome! I didn't see it but was encouraged just read about it. I, too have wondered if there are many other believers involved in this thing, glad to hear that there are a few out there. Huge Blessings to you all! Believers and non-believers alike.

Just curious, how many wives do you have? Hey Nick- Sounds like we've been spending time in each others head (now there's a scary thought) Parallel plans for sure, and well thought out I might add. Another M 5 is a must . My wifes is black on black, awesome! I might go for BMW green if it's available. I think my wife might even join us for one of those $40.00 cigars.

Hi Mark, Thank you for your insights-most helpful. How would we employ you to assist us with these matters?? What area are you in (and would it matter)? Hi. My real name is Mark. I am an estate planning attorney. My intention here is to give some pointers on tax, structured gifting, charitable interests, and other estate planning issues you may have to deal with regarding any sudden increase of wealth due to an RV. INCOME TAX Taxes on the appreciation of this money will be taxed as ordinary income. It will be listed on your tax return as "interest income." The income is only recognized when you cash out. The income is figured by the amount you receive less the original cost of the Dinar and any fees associated with the original purchase. Depending on your state's income taxes, you may wish to create an irrevocable trust in a state that does not have income taxes and place the Dinar in that trust. The trust would pay federal income taxes, but you would avoid the state income tax. You will have to weigh your potential savings against the legal fees that would require and decide for yourself if it is worth it. If you have charitable interests at all, you could also give the Dinar to a charitable trust after the RV, have the trust sell it, and avoid all taxes completely. However, there are things you lose with this tactic as well. These issues should be well thought out with competent counsel. GIFTING If you are planning on giving any of your wealth away, these are things you should consider: Gifting - Tax Gift tax is paid by the person giving the gift on any gift (or combination of gifts) made in any given year to a single individual (or entity) if the amount of the gift(s) exceeds $13,000. This is the gift tax "exclusion" amount. If your spouse joins you in the gift, you can also add your spouse's exclusion amount for total gifting of $26,000 to any individual in any given year. (This is why you don't have to fill out a gift tax return for every birthday party you ever threw.) Once you pass the exclusion amount, you start working under the "exemption" amount. Under current law there is a credit for gift taxes that will allow each of us to give up to a lifetime amount of $1,000,000 without any out of pocket expense. Once you have make the gift, you fill out form 709, figure the tax, claim the credit, send it in and you are done. However, there is a potential DOWNSIDE to using your gift tax exemption. For every dollar of gift tax exemption used during life, you lose one dollar of estate tax exemption for when you pass on. The following are exempted from gift taxes regardless of the amount: -Gifts for education expenses made directly to the educational institution -Gifts for medical expenses made directly to the medical institution -Gifts to charitable and not-for profit entities Gifting - Timing - Pre RV Right now the Dinar aren't worth much and you can give them away without exceeding the exclusion amount. However, to claim the exclusion amount the gift must be a "completed gift." That means that you are not just pledging the Dinar, but you have actually given it away so you can't get it back. I know that many of the people we wish to give to probably wouldn't do well with large sums of cash after an RV. (My kids would all own fast cars if they could.) Your gift may be placed in an irrevocable trust with your intended gift receiver(s) as a beneficiary and lots of restrictions on how and for what any distributions should be made. That way, if the RV comes, your grandchildren could end up with school paid for instead of parties paid for. (You may also use well structured limited business interests to pass on wealth but keep control of it.) Gifting - Timing - Post RV I personally would NOT gift prior to the RV because I am not that worried about the gift tax and I'd like to know exactly what I am dealing with. There are sooooo many things that can be done to pass on wealth in constructive ways that will still avoid gift taxes. I don't have the time to go into them here (and you wouldn't read it all anyway). There are lots of ways to take care of those you love without gift (or estate) taxes becoming a problem. Some of these include: -Tying in charitable interests -Discounting assets -Carefully structured gifting using Crummy Powers with multiple beneficiaries (who will never receive) to funnel funds to the real beneficiaries -Captive Insurance (if you have OR START a business) However, fore each of these tactics legal expenses would be incurred. Estate Tax As the law stands right now, if you die after 2010 your estate will have an exemption amount of only $1,000,000 (adjusted for inflation). Any amount above that will be taxed at about 50%. If you have used some of that exemption through gift taxes, your estate tax exemption will be even lower. If you are married, you should make sure that your Revocable Living Trust has appropriate tax provisions that allow your estate to use both of your exemptions (effectively doubling the amount). This can not be done under current law unless you have trust based planning. ASSET PROTECTION Once you have money, you become one of those people we have all heard of who have "deep pockets." There are over 16,000,000 law suits filed in the US in a year. That is more than 1 lawsuit every 2 seconds. You will have a target. There are five general tiers to Asset Protection: 1) Whatever protection state law provides 2) Insurance 3) Business entities (LLC, FLP, etc....) 4) Domestic Asset Protection Trusts 5) Foreign Asset Protection Trusts I am only scratching the surface here. Unfortunately, many of you will now go on the internet or talk to friends about this tiny bit of information I have given and get a mix of good and bad information. It is my hope that many of you will also seek competent counsel and get only good information that is fine tuned to your personal circumstances. If you need recommendations for good attorneys to work with, I can get them for you. If it were me personally, I'd wait until after the RV so that I knew what I was dealing with. However, depending on your circumstances, that may not be the correct course of action for you. I am not going to give you all hours of unpaid legal advice. However, I will do my best to answer simple, general questions for you. Best of Blessings to you all. Simplified Version of Disclaimer None of the foregoing information can be considered legal advice and I have not created an attorney client relationship with you. Pursuant to circular 230 none of the information contained in this post may be used to avoid tax penalties.

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Hey All, Warka internal transfers work just fine, you shouldn't even need to email & wait. You can move into/outof IQD/USD at will. Try it-you'll like it. Montana

Most excellent question! I too have wondered the same. Adam, are you out there? Anyone know how this will work? Thank You in Advance.

Wow! Thank you so much, that really helped. I've already started making the phone calls. Montana

Maybe there just isn't much to say lately and their giving it a rest. Or it could be that they have a real life to live and are living it. God bless them all, even if we never hear another word, they have already gone above the call of duty.

Hi All, I was interested in converting an IRA to a self directed IRA and place some Dinars in it. Has anyone done this using a company besides ENTRUST? Which I believe is a company that Ali recommends . I spoke with the ENTRUST office that's in Santa Monica near Ali's office and they made it seem like a very tedious and slow process with significant fees involved. Any help/info would be appreciated. Thank You, Montana

Well, actually, the real difference is that if they (The Dinars) do turn out to be toilet paper the used wrinkled ones have a much softer feel and won't irritate as much.

Just a note: I have been able to complete internal transfers between my accounts whenever I have tried to. Just a thought: I agree that there are some potential drawbacks to having funds in my Warka accounts, but the fees are almost nothing, I get faster and better customer service from Warka than I do from any of my stateside banks. They have done everything I've asked them to do and responded to every email quickly. They actually do pay 7% interest. And if you have any significant amount of money in US accounts it may not be as safe as we'd like to think. Anyway, this whole "investment" is somewhere between gambling and high risk speculation, so IMO the "Warka Risk" is just part of the excitement that goes with this type of thing. Let's not get all worked up and lose sleep over it. We'll all be pleased with the outcome I would imagine. Montana

What did I miss? I read this and didn't see anything that addressed our type of situation? Anyone else have a different take?

Mr Peawee sir, Either you don't understand the math or you need to purchase more Dinars.

I purchased from them a week ago today and just received an email, I think all is fine. I have bought from them in the past and didn't have any trouble. Montana

I have two girls too, one is 27, she gave us two grandkids recently the other is 10 and keeps us young. I'm 57 going on 32 , my wife says I'll be an adult in a few years but I'm in no hurry. She is 50 (looks 27), been married for almost 30 years now and we're just gettin started. When the RV happens we're looking for a bigger ranch, second home in Panama (where our oldest daughter lives) and helping as many others as we can. Life is Good!! May you all be blessed as much as I am.

Hey Smackers can you tell us how to contact the company you are using to set things up? Thank You

Thank you. That's very helpful. Montana

And a good thought it is! I have heard the same thing. I think the two (or three) staggered appointments to cash in is more than doable. Thanks for sharing you're thoughts.

That's great Papa... You're not in the Montana Wyoming Dakota area are you??

Hi Smackers, That's true, but I think that gold is only available at the Santa Monica location? Yes/No??