lonellc Posted September 21, 2010 Report Share Posted September 21, 2010 Is there anyone who has constructed a outline of steps to take in preparation for the RV/RI ? I was hoping to get a draft of some sort with steps that will be taken once the RV hits. and outline of how the money will be divided in percentages of investments . 1 Link to comment Share on other sites More sharing options...
hspotman Posted September 21, 2010 Report Share Posted September 21, 2010 Is there anyone who has constructed a outline of steps to take in preparation for the RV/RI ? I was hoping to get a draft of some sort with steps that will be taken once the RV hits. and outline of how the money will be divided in percentages of investments . I don't know about an outline, but I'm going take out 30% right away and put it in a savings account to pay the capital gains on it for tax time. Then I'm going to put 25% of the remainder into the stock market, another 25% into bank CDs and such, another 25% into a different saving account with good interest, and the rest I'll spend getting a new truck,paying off my family's and close friend's debts,etc. Dunno if that's what you were talking about or not. 1 1 Link to comment Share on other sites More sharing options...
djjk2004 Posted September 21, 2010 Report Share Posted September 21, 2010 # 1 on my list... buy a freaking new car. 1 Link to comment Share on other sites More sharing options...
tgar Posted September 21, 2010 Report Share Posted September 21, 2010 GET YOU A COPY OF A M's cash in procedure. the document is free and will answer many of questions. Link to comment Share on other sites More sharing options...
cris Posted September 21, 2010 Report Share Posted September 21, 2010 Lets see....call Ali....wire transfer....find a cpa, estate lawyer, investment mngr....then become very anonymous....go RV already!!! 2 Link to comment Share on other sites More sharing options...
lost one Posted September 21, 2010 Report Share Posted September 21, 2010 I'm very confused why so many people ask strangers on a forum about investment, tax and legal advice. You dont know who you are getting advice from. It could be a 10 year old for all you know. Get a tax attorney, Investment Advisor (use a CFP), personal banker and a lawyer. They will help you with everything else. I would recommend to all if this RVs forget about all different investments you heard on all of these forums. Just pick your team and let them work for you. I do believe these people are just getting opinions on what they will do...I do believe it is just more or less curiosity 1 Link to comment Share on other sites More sharing options...
BobbyToGo Posted September 21, 2010 Report Share Posted September 21, 2010 Maintain good, disciplined habits now. The solution to most of your issues with money (or anything, for that matter) is IN YOUR OWN HEAD FIRST! If you spend every dime you have now, STOP DOING THAT! You say, "Easier said than done." That may be true, but if you will ever keep anything you make, you need to get your head right NOW, before any RV. If you already are a good steward of your assets, an RV will be a blessing for you and yours for generations to come. As for a seven or more figure windfall, start research with your current bank. Inquire as to whether they have a 'Private Client Group' or any such thing to service folks with seven or more figure accounts. BofA owns Merrill Lynch, for example. Bundling financial services makes it easier, for sure. Whatever you do, be very cautious about qualifying a lawyer, CPA, CFP or any other adviser simply based on personal relationships, word of mouth, or having sat next to them at a hockey game. Thoroughly research whomever is going to get their hands on your moolah. Much of what assistance you will need is contingent on the rate of the RV. The only constant in the RV equation is YOU WILL BE RESPONSIBLE FOR WHAT YOU DO. Be flexible, for now. Hope this helps. 4 Link to comment Share on other sites More sharing options...
cleaner100 Posted September 21, 2010 Report Share Posted September 21, 2010 I'm very confused why so many people ask strangers on a forum about investment, tax and legal advice. You dont know who you are getting advice from. It could be a 10 year old for all you know. Get a tax attorney, Investment Advisor (use a CFP), personal banker and a lawyer. They will help you with everything else. I would recommend to all if this RVs forget about all different investments you heard on all of these forums. Just pick your team and let them work for you. PROVERBS 15:22 "IN THE MULTITUDE OF COUNSEL THERE IS WISDOM" In addition - I think it is real nice to get some not-so-bad opinions or advice from people at this venue who have learned the hard way: by experience! ; ) 1 Link to comment Share on other sites More sharing options...
gb2008 Posted September 21, 2010 Report Share Posted September 21, 2010 tax, tithe, savings, pay off debt, more investments and lots of fun stuff!!! 3 Link to comment Share on other sites More sharing options...
RicknSaudi Posted September 21, 2010 Report Share Posted September 21, 2010 Good question lonellc. So many people on here have experience in the financial industry. Of course, you have as many opinions as people, but I don't think it's necessarily asking for financial advice to enquire about the outline as you requested. I would love to see something like that myself. Suggestions and ideas do not a mandate make. 1 Link to comment Share on other sites More sharing options...
tampabay Posted September 21, 2010 Report Share Posted September 21, 2010 Is there anyone who has constructed a outline of steps to take in preparation for the RV/RI ? I was hoping to get a draft of some sort with steps that will be taken once the RV hits. and outline of how the money will be divided in percentages of investments . I absolutely agree that you should consult with an attorney that specializes in taxes and then with a financial advisor for your future. But in the meantime and before it RVs, you may want to do what I have done: Create a spreadsheet In that spreadsheet, create a scenario for each rumored RV rate. (# of dinars multiplied by rate) Then calculate the amount you will have after taxes and "fees". Then make a list of everything that needs to be paid immediately after RV: ie, pay off debts, buy condo, anything that will be a one time purchase/payment - add those to your calculations on the spreadsheet and subtract everything that needs to be paid out immediately (don't forget the lump sum that you want for your bank account to get you "jump started") Determine how much your monthly income needs to be supplemented (if at all) and how many years it will need to be supplemented and add that to your calculations. Now, you have a visual of how much money you will have, how it will be spent, how many years it will sustain you, and how much you have left to invest - this is where your tax attorney and financial advisor comes in. My husband and I look at this spreadsheet on a daily basis. When the time comes to meet with the "advisors", we will take the spreadsheet with us. I hope this helps. I know it doesn't really list the necessary steps to take before RV but it is something that you should have clearly thought out before the RV. Good luck to all of us and enjoy thinking and dreaming about the possibility of wealth. 4 Link to comment Share on other sites More sharing options...
speculator2 Posted September 21, 2010 Report Share Posted September 21, 2010 Can you please provide a copy of your spreadsheet...? Seems your a step ahead of me and I'd like to catch up with you..!! Thanks Link to comment Share on other sites More sharing options...
RicknSaudi Posted September 21, 2010 Report Share Posted September 21, 2010 Can you please provide a copy of your spreadsheet...? Seems your a step ahead of me and I'd like to catch up with you..!! Thanks Thanks...I would like to see that as well... Link to comment Share on other sites More sharing options...
tampabay Posted September 21, 2010 Report Share Posted September 21, 2010 Can you please provide a copy of your spreadsheet...? Seems your a step ahead of me and I'd like to catch up with you..!! Thanks Of course, as soon as I remove some of the data I will upload it. Link to comment Share on other sites More sharing options...
asdddddddddddd Posted September 21, 2010 Report Share Posted September 21, 2010 (edited) Can you please provide a copy of your spreadsheet...? Seems your a step ahead of me and I'd like to catch up with you..!! Thanks i actually made a spread sheet about a week ago like the one tampa bay is talking about. i wanted me and my invested friends to be able to play around with different rv rates and tax rates. if you email me at h20eweup2@cfl.rr.com i will send you a copy of it. Edited September 21, 2010 by h20eweup2 Link to comment Share on other sites More sharing options...
tampabay Posted September 21, 2010 Report Share Posted September 21, 2010 (edited) Of course, as soon as I remove some of the data I will upload it. I'll try to upload it -- I haven't done this before. Will see what happens. I'm sorry, it won't let me upload an excel file. Here is my email -- email and I will send it to you. ccreamer6@tampabay.rr.com Edited September 21, 2010 by tampabay 1 Link to comment Share on other sites More sharing options...
hspotman Posted September 21, 2010 Report Share Posted September 21, 2010 (edited) i actually made a spread sheet about a week ago like the one tampa bay is talking about. i wanted me and my invested friends to be able to play around with different rv rates and tax rates. if you email me at h20eweup2@cfl.rr.com i will send you a copy of it. Damn, forgot my computer doesn't have excel. Ah well, no worries. Unless you think you can send it as a "works" spreadsheet? If not, no worries. Edited September 21, 2010 by hspotman Link to comment Share on other sites More sharing options...
hspotman Posted September 21, 2010 Report Share Posted September 21, 2010 Dude, that spread sheet is awesome, thanks! I was already using a currency converter site- http://finance.yahoo.com/currency-converter/?amt=1&from=EUR&to=USD&submit=Convert#from=IQD;to=USD;amt=1 , but this does not let you switch prices. It just converts it at the current price, which is now before RV. This site also does not allow you to deduct taxes. So your spread sheet it sht shiiiiiznet bud! Link to comment Share on other sites More sharing options...
BtrFuture4All Posted September 21, 2010 Report Share Posted September 21, 2010 I know there are common places you can upload files onto the Internet so that others can download from there, but right now I don't have that info at fingertips. Maybe someone else does and will post it. Must easier than forwarding what may become hundreds of e-mails. Of course sending the e-mails does allow us the opp to acquaint ourselves and to communicate privately instead of on an open forum. Yet right now I don't think anyone has much time for unnecessary chit-chat as I really do feel this RV is very close. So far as the Post RV pre-plan, I got a late start and am always interested in plans of others as they may have items I had not even thought about.... or possibly steps in a procedural order I might not have realized the importance of. Thanks all... Link to comment Share on other sites More sharing options...
asdddddddddddd Posted September 21, 2010 Report Share Posted September 21, 2010 (edited) Solutions is right, its easier to upload a link for everyone to download instead of emailing each person. here is my spreadsheet and i'll be more than happy to post a link with tampabay's spreadsheet as well if she lets me know it is okay. http://www.megaupload.com/?d=F9K0S7AO just type in the letters/number on the right of the page and wait for the 45 seconds to count down before you can start downloading it. Edited September 21, 2010 by h20eweup2 1 Link to comment Share on other sites More sharing options...
zantac Posted September 21, 2010 Report Share Posted September 21, 2010 pre plan check list to share I am going to CHECK the forex for the RV Then cash in & SHARE it with everyone in my family 2 Link to comment Share on other sites More sharing options...
Freedom Biz Posted September 22, 2010 Report Share Posted September 22, 2010 Thanks very much for the spreadsheet. It saved me a lot of time trying to make my own. I just joined today (bought my dinars last Friday) and it's great being part of this community. I've spent several hours reading posts and getting up to speed. There are very generous people like you, H20, and some that are very cranky and decidedly unhelpful. It's a good predictor of who's life will be changed for the better after RV and who will still find life a big disappointment. Best wishes to you. Link to comment Share on other sites More sharing options...
Inside Track Posted September 22, 2010 Report Share Posted September 22, 2010 During this process, I am learning a lot. We have a Trust that has been in place for a long time and the bulk will go there, we will Title right off the top, and set aside a portion for further donations and investments. I believe buying land is a great investment. Still, it's location, location, location with any real estate investments. We plan on doing some of that. Other things, for example, my sister and hubby have all those professionals in place, and have had meetings with Tax Attorney, CPA, and most important...their Bankers. Their Hometown banker will be setting up several $250,000 beneficiary accounts that function like a MM account...(rather the low interest bearing CD)...you draw monthly interest or even cash-in without penalty. Another thing that they will be doing is Gifting the year maximum to each of their children. ($13,500 per child by each parent is allowed). But, we have not made a firm dicision where we will cash in.....Broker or our Bank (BOA). Yes, and it can't be stress enough the importance of keeping a "low profile" post RV. Sad but true, human nature just doesn't rejoice in others good fortune. Only a few people that are in this investment with us know how much we have bought. Post Rv, our lifestyle will not change in any noticable fashion. God Bless! Link to comment Share on other sites More sharing options...
rainmakr55 Posted September 22, 2010 Report Share Posted September 22, 2010 I told the wife that when it RVs, I will buy her a new lawn mower. Link to comment Share on other sites More sharing options...
tampabay Posted September 22, 2010 Report Share Posted September 22, 2010 Solutions is right, its easier to upload a link for everyone to download instead of emailing each person. here is my spreadsheet and i'll be more than happy to post a link with tampabay's spreadsheet as well if she lets me know it is okay. http://www.megaupload.com/?d=F9K0S7AO just type in the letters/number on the right of the page and wait for the 45 seconds to count down before you can start downloading it. I sent you an email with a cleaned up spreadsheet for you to upload. I really appreciate it. tampabay Link to comment Share on other sites More sharing options...
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