So you want to RV your money tax free???

[hrdbawl]

With so many posts dedicated to trusts and the confusion they bring on whether they offer tax advantages or not, I thought I'd reiterate the ONE and ONLY true and legitimate way to RV your $'s TAX FREE within an account approved and created by our U.S. congress themselves. Whether new to the chat rooms for Dinar or a seasoned veteran, I have information that I've spelled out that every last one of us CANNOT ignore. If you have done this already, I suggest that you just skip this (or remind yourself how important this is if you haven't done it as of yet).

I am reaching out to all of us whom keeps banging their collective heads against a wall trying to figure out how to avoid the 35% max fed tax rate (currently) that will happen when the RV takes place, let alone state tax upwards of 10%+/- as is the case in California.

The answer is a ROTH IRA! But wait, please read on!!

Ok, for starters, it IS NOT TOO LATE!! But you better act fast and I mean FAST if you believe the Dinar is set to RV soon as I'll bet you do like most of us do!

First, there are two ways you can do this so let's start with number one.

1. Transfer your current IRA or ROTH IRA to a custodian that works with a currency broker. I did this with Dinar Trade, so we'll use them as an example. DT has set up an agreement with Entrust administration www.entrustadministration.com specifically for this very transaction. You would transfer your IRA or ROTH IRA over to Entrust and then purchase the Dinar through Entrust where DT will hold the money in "certificate form". You will NOT receive the actual Dinar! When it comes time to RV, you contact Entrust and fill out their form to "SELL" the Dinar and they in turn will fax this to DT and DT will wire the funds in US to the Entrust account for you to do what you wish...with TAX FREE DOLLARS!!!* I suggest transferring it out AFTER you have found yourself a VERY GOOD financial advisor. Get the best and usually this would be a CFP (Certified Finanial Planner) which is the top of their trade. They would then help you transfer the money from Entrust to the custodian they work with to assist you in the financial plan you all agreed to.

2. If you don't have the current IRA or ROTH IRA account already to transfer, then the last option is to CONTRIBUTE the max you can into a ROTH IRA at Entrust (Entrust is an example only and I don't work for them or make a dime off of suggesting them). The typical contribution max for anyone working and under the age of 50, is $5,000. If you are over 50 years old, you can contribute $6,000 in the tax year 2010. All the other details to sell and what not are listed above.

Please also understand I mentioned IRA's work as well. You can CONVERT a traditional IRA (Rollover IRA's from company retirement plans included) into Roth IRA's so that the tax free status applies. This is NOT hard, but you must convert the IRA to a ROTH IRA first. 2010 is a year in which ANYBODY can do this no matter how much money they made or are making as in years past, you could not make more than $100k and still convert your IRA. Now you can in 2010 specifically. Not sure what happens next year. Talk to your current custodian (look at your statement or talk to your advisor) and ask them what will happen if I convert my IRA to a Roth IRA as there is a tax responsibility that is likely. Still, peanuts in the end when talking about the possible outcome of an RV that would be tax free to you after the conversion of the IRA to a Roth IRA.

This is very huge guys and the reason I keep bringing it up! $5,000 buys you 5,000,000+/- Dinar. What's your profit? If this were NOT in a Roth IRA, what is your profit? One heck of a lot less after taxes peck away at your newly found money.

The Roth IRA is, without argument, the smartest and quickest, not to mention, cheapest legal way to avoid HUGE taxes. Don't let this slip by for one more minute.

That's it! Painless but prudent and a huge mistake to look back and say you wish you had, but don't. If anybody has very specific questions that this did not answer regarding my experience with having done this with Entrust and Dinar Trade, then please PM me and I'll respond. No gimick here...just good ole fashioned help.

Hrdbawl

*To be considered tax free dollars, it must be a Roth IRA, not a tradtional IRA and you have to be 59 1/2 or the account has to be 5 years in age whichever takes longer. So if you create one at age 58, can you get tax free dollars at 60 when withdrawing funds? NO! 5 years have not passed as of yet. If you have a Roth IRA already, say for the past 3 years and you are 58, can you take the money out at age 60 tax free and the answer is YES! 5 years has passed.

You can't make it to second base...without taking your foot off of first! Hrdbawl

[Hungrytorv]

Thanks. You might want to also mention A ChFC ( Chartered Financial Consultant ). They have all the credentials of CFP but with the added knowlwdge of insurance. Very Important with new estate law going in to effect.

[kingdog 5]

This is a great post hrdbawl !!!Thanks for all you help. I am going to get started on this right away !!! B)

[Happy Man]

wish someone could find the same for canadian Tax free Saving Account

[RiverStyx]

You did forget about 501C3 status. It can be gifted to a/your 501 and invested. You just have to invest it right.

[banned]

As far as i know, there is NO tax to pay at all if you live in the UK BUT iam still looking into it

Edited December 16, 2010 by banned

[ExecConsult]

wish someone could find the same for canadian Tax free Saving Account

My understanding is that only the US has the audacity to tax its citizens on income they make in other countries around the world. You should look into foreign structures. Maybe set up in a tax haven or even in the US. Just a thought

Mark

[Don Paul]

my question is this.

if a roth is basically a tax free in but pay taxes on the withdrawals, wouldnt you be better buying dinar with after tax dollars inside a normal IRA and when the RV occurs the withdrawals are tax free on a much much larger amount??

[ExecConsult]

my question is this.

if a roth is basically a tax free in but pay taxes on the withdrawals, wouldnt you be better buying dinar with after tax dollars inside a normal IRA and when the RV occurs the withdrawals are tax free on a much much larger amount??

You got them backwards. Roth is funded with after tax dollars and has tax free growth - no tax upon withdrawal as long as you wait per regulations. Normal IRA is funded with pre-tax dollars so you get tax deferred growth but you are taxed when you make withdrawals.

Best of Blessings,

Mark

[DarkShinobi76]

Kool!!! Thanks for the great post hrdbawl...

[jim jones]

Please be careful and look down the road in probably the not to distant future. Greece, France, Ireland are already confiscating retierment funds to purchase their government debt. Members of the house have been FLOATING the same idea for no less than two years. They can and will change any rules they make to benefit themselves. It is impossible to enter a mudwrestling match with out getting muddy. Or to paraphrse Pual Harvey, " WHEN ONE GETS INTO BED WITH THE GOVERNMENT SOMEONE'S GOING TO GET RAPED. Procede with caution and have lots of lube handy.

[wildmountain]

Thanks. You might want to also mention A ChFC ( Chartered Financial Consultant ). They have all the credentials of CFP but with the added knowlwdge of insurance. Very Important with new estate law going in to effect.

Thanks for the info! I gave you a plus for the photo. I have three. Too cute.

[Don Paul]

Please be careful and look down the road in probably the not to distant future. Greece, France, Ireland are already confiscating retierment funds to purchase their government debt. Members of the house have been FLOATING the same idea for no less than two years. They can and will change any rules they make to benefit themselves. It is impossible to enter a mudwrestling match with out getting muddy. Or to paraphrse Pual Harvey, " WHEN ONE GETS INTO BED WITH THE GOVERNMENT SOMEONE'S GOING TO GET RAPED. Procede with caution and have lots of lube handy.

You dont even have to look down the road. For example, the texas teachers reitirement fund was used by the state to finance their road and bridge building and replaced with a wonderful state IOU. No need to tell you what a state IOU is worth these days, as most state governments are deep in the red. Arizona has sold all their state gov buildings and are leasing them back to stay afloat for example.

When I was marketing employer retirement funds, I found out the controller of the funds is ultimately the business owner, and part of the sale point is that he had access to those funds anytime he needed them.

You are totally correct. I wouldnt put one dime into something that looks to be sure to be 'used' out of your control

[bahtman]

Hrdbwl,

Can you give me an idea of the total fees involved from Entrust to set this up?