Popular Post Rogue Knight Posted November 13, 2011 Popular Post Report Share Posted November 13, 2011 JUST A LITTLE GUIDANCE POST RV FROM GENERATION X [bondLady] GenerationX Rules: Family: I have been asked several times about my plans for financial investments and preserving wealth and do not offer advice as each and everyone of you have a different circumstance that adds substantial and unique problems to preserving your newly acquired wealth. I am not a Certified Investment Counsel but will for the first time offer you some sensible directions to take. [bondLady] 1. Recognize that your government both State and Federal are your biggest enemy to securing your wealth, see a tax accountant or tax lawyer. [bondLady] 2. Set aside 15% of your new wealth in a separate account for your mad money and use this account for your flings into wealth. This is your payoff for your dreams and frustrations. If you spend more than this on new homes, automobiles etc. You are on a well-known pattern of blowing it all. [bondLady] 3. Remember #1, everything you buy will be taxed yearly either in Real estate taxes, sales taxes and or personal property taxes and if you live in one of the States with State Income taxes you will pay the State on all interest earned and on the principal Amount when it is received initially. Think about this statement. Move to a State that has the lesser of the applicable taxes, this is a must. If you do not do this the State will eat up your rewards inside of 10 years, really!!!! Places like NY and CA will eat it up in 6 years. All States are creating new taxes daily to preserve their bloated Bureaucracies under the guise of service. [bondLady] 4. Invest the remaining 85% [after taxes] in safe high paying interest insured CD’s etc. Look out side the US for the best rates Panama is paying up to 7% on large CD’S 70,000 per year on a million dollars worth of CD’s. Dubai is paying up to 10% on the same amounts, Check Cyprus as they have been in the 10% bracket also. Pay interest to a debit account, spend and live on the interest with a Debit card. Then if you have enough Dinar to cash in there could be a lot of interest to be almost as exorbitant as you like living the life of Riley so to speak. A 10M savings off shore could bring you interest of $700,000 to more than 1M a year in income. Can you live high on the Hog with that? [bondLady] 5. Lower your profile, do not flaunt your new wealth as the tort laws in this country allow Trial Attorneys to target you as a defendant. Trial or Tort lawyers are the only profession that never contribute to society but just create misery so they can take your rewards for your hard work. There are some good books on becoming invisible, buy one and follow as much as you feel comfortable. [bondLady] 6. Contribute to Charity on a fixed rate yearly; do not over contribute as they [most] spend money like drunken sailors as they contribute increasingly lower subsidies to the needy. [bondLady] 7. Change your lifestyle to a calmer existence; find peace and harmony with yourself. Find a compatible travel mate if you are single, travel the world into safe places and educate yourself to there way of life as it helps you understand how they think and rationalize. This promotes peace and harmony within yourself. [bondLady] 8. Above all think each move through, In the 1960′s I taught a course we designed on thinking for corporate management for a large Think Tank firm. We found that only 3% think, 12 % think they think and the rest just blunder through life failing to achieve any potential what so ever. This has held true even through today. The sorry school system does nothing to prepare kids to think and never will. [bondLady] 9. Spend a little of your splurge money on obtaining good advice from more than 1 source on how to invest your money, watch out for slick talking stock brokers or mutual type funds. Watch out for real estate as you can lose everything very quickly as the economy is still failing. Also remember #1. Watch out for taxes that pile on your estate. [bondLady] 10. Pray for guidance but please do not turn into zealot as this can override your mindset to a point you will not recognize happiness when you see it. Everything in moderation with a truly happy smile and enlightened smile on you face. Be a friendly person not someone who is critical of others lifestyles and their views on faith. Recognize everyone is born free and with their own opinion. Now that I have laid out some advice accumulated in my 73 years on this planet, I hope each and everyone can heed this simple advice for their own well being. May God bless you and you’re new found wealth, BUT; above all THINK! GenerationX 32 Link to comment Share on other sites More sharing options...
chara55 Posted November 13, 2011 Report Share Posted November 13, 2011 11. R.V. 2 1 Link to comment Share on other sites More sharing options...
RodandStaff Posted November 13, 2011 Report Share Posted November 13, 2011 11. R.V. I believe that would be "before" Bondlady's list starts! Thanks Bondlady... you don't just bring good news... you bring good advice too! Thanks for posting Rogue! GO RV Already Baby!!! 4 Link to comment Share on other sites More sharing options...
wookie Posted November 13, 2011 Report Share Posted November 13, 2011 Excellent advice. Thank you for taking the time to post this. 1 Link to comment Share on other sites More sharing options...
1929harleydavidson Posted November 13, 2011 Report Share Posted November 13, 2011 BOY BL, SEVENTY THREE. I AM ENCURAGED TEN FOLD KNOWING YOUR TIME ON THIS PLANET, THANKS FOR YOUR ADVICE!!!!!!!!!!!!! 2 Link to comment Share on other sites More sharing options...
sourpuss Posted November 13, 2011 Report Share Posted November 13, 2011 BL, you are an angel! I appreciate you sharing with us in so many ways, financial, emotional, spiritual. Link to comment Share on other sites More sharing options...
Jeff Rasmussen Posted November 13, 2011 Report Share Posted November 13, 2011 Thanks Bondlady......excellent post! Link to comment Share on other sites More sharing options...
winterset Posted November 13, 2011 Report Share Posted November 13, 2011 Great advice! Thanks for the post Rogue Knight! I used to think Bondlady was smart now I know she is also wise 2 Link to comment Share on other sites More sharing options...
Alex38 Posted November 13, 2011 Report Share Posted November 13, 2011 Awesome advice!!! Link to comment Share on other sites More sharing options...
rvb4jan1 Posted November 13, 2011 Report Share Posted November 13, 2011 JUST A LITTLE GUIDANCE POST RV FROM GENERATION X [bondLady] GenerationX Rules: Family: I have been asked several times about my plans for financial investments and preserving wealth and do not offer advice as each and everyone of you have a different circumstance that adds substantial and unique problems to preserving your newly acquired wealth. I am not a Certified Investment Counsel but will for the first time offer you some sensible directions to take. [bondLady] 1. Recognize that your government both State and Federal are your biggest enemy to securing your wealth, see a tax accountant or tax lawyer. [bondLady] 2. Set aside 15% of your new wealth in a separate account for your mad money and use this account for your flings into wealth. This is your payoff for your dreams and frustrations. If you spend more than this on new homes, automobiles etc. You are on a well-known pattern of blowing it all. [bondLady] 3. Remember #1, everything you buy will be taxed yearly either in Real estate taxes, sales taxes and or personal property taxes and if you live in one of the States with State Income taxes you will pay the State on all interest earned and on the principal Amount when it is received initially. Think about this statement. Move to a State that has the lesser of the applicable taxes, this is a must. If you do not do this the State will eat up your rewards inside of 10 years, really!!!! Places like NY and CA will eat it up in 6 years. All States are creating new taxes daily to preserve their bloated Bureaucracies under the guise of service. [bondLady] 4. Invest the remaining 85% [after taxes] in safe high paying interest insured CD’s etc. Look out side the US for the best rates Panama is paying up to 7% on large CD’S 70,000 per year on a million dollars worth of CD’s. Dubai is paying up to 10% on the same amounts, Check Cyprus as they have been in the 10% bracket also. Pay interest to a debit account, spend and live on the interest with a Debit card. Then if you have enough Dinar to cash in there could be a lot of interest to be almost as exorbitant as you like living the life of Riley so to speak. A 10M savings off shore could bring you interest of $700,000 to more than 1M a year in income. Can you live high on the Hog with that? [bondLady] 5. Lower your profile, do not flaunt your new wealth as the tort laws in this country allow Trial Attorneys to target you as a defendant. Trial or Tort lawyers are the only profession that never contribute to society but just create misery so they can take your rewards for your hard work. There are some good books on becoming invisible, buy one and follow as much as you feel comfortable. [bondLady] 6. Contribute to Charity on a fixed rate yearly; do not over contribute as they [most] spend money like drunken sailors as they contribute increasingly lower subsidies to the needy. [bondLady] 7. Change your lifestyle to a calmer existence; find peace and harmony with yourself. Find a compatible travel mate if you are single, travel the world into safe places and educate yourself to there way of life as it helps you understand how they think and rationalize. This promotes peace and harmony within yourself. [bondLady] 8. Above all think each move through, In the 1960′s I taught a course we designed on thinking for corporate management for a large Think Tank firm. We found that only 3% think, 12 % think they think and the rest just blunder through life failing to achieve any potential what so ever. This has held true even through today. The sorry school system does nothing to prepare kids to think and never will. [bondLady] 9. Spend a little of your splurge money on obtaining good advice from more than 1 source on how to invest your money, watch out for slick talking stock brokers or mutual type funds. Watch out for real estate as you can lose everything very quickly as the economy is still failing. Also remember #1. Watch out for taxes that pile on your estate. [bondLady] 10. Pray for guidance but please do not turn into zealot as this can override your mindset to a point you will not recognize happiness when you see it. Everything in moderation with a truly happy smile and enlightened smile on you face. Be a friendly person not someone who is critical of others lifestyles and their views on faith. Recognize everyone is born free and with their own opinion. Now that I have laid out some advice accumulated in my 73 years on this planet, I hope each and everyone can heed this simple advice for their own well being. May God bless you and you’re new found wealth, BUT; above all THINK! GenerationX #3: Vegas, anyone?? :lol: Link to comment Share on other sites More sharing options...
ididitfirst Posted November 13, 2011 Report Share Posted November 13, 2011 thank you BL. very good read and its a keeper! Link to comment Share on other sites More sharing options...
pops Posted November 13, 2011 Report Share Posted November 13, 2011 Thanks BL for all your good breakdown on the news items and for the sound advice on post RV plans. I look forward to all the thing you breakdown. It makes sense the way you do it. You only have 7 years on me but many more in wisdom I think. Link to comment Share on other sites More sharing options...
dinarslave Posted November 13, 2011 Report Share Posted November 13, 2011 What a wonderul post BL. We all need to hear this over and over so I have printed it and will put it by my nightstand to read at least once a day. You are one of the most giving people I don't know, lol and are appreciated beyond words. Thank you kind lady for all you do for me and my family, you make it so much easier to get through this ride! 1 1 Link to comment Share on other sites More sharing options...
wealthhound Posted November 13, 2011 Report Share Posted November 13, 2011 JUST A LITTLE GUIDANCE POST RV FROM GENERATION X [bondLady] GenerationX Rules: Family: I have been asked several times about my plans for financial investments and preserving wealth and do not offer advice as each and everyone of you have a different circumstance that adds substantial and unique problems to preserving your newly acquired wealth. I am not a Certified Investment Counsel but will for the first time offer you some sensible directions to take. [bondLady] 1. Recognize that your government both State and Federal are your biggest enemy to securing your wealth, see a tax accountant or tax lawyer. [bondLady] 2. Set aside 15% of your new wealth in a separate account for your mad money and use this account for your flings into wealth. This is your payoff for your dreams and frustrations. If you spend more than this on new homes, automobiles etc. You are on a well-known pattern of blowing it all. [bondLady] 3. Remember #1, everything you buy will be taxed yearly either in Real estate taxes, sales taxes and or personal property taxes and if you live in one of the States with State Income taxes you will pay the State on all interest earned and on the principal Amount when it is received initially. Think about this statement. Move to a State that has the lesser of the applicable taxes, this is a must. If you do not do this the State will eat up your rewards inside of 10 years, really!!!! Places like NY and CA will eat it up in 6 years. All States are creating new taxes daily to preserve their bloated Bureaucracies under the guise of service. [bondLady] 4. Invest the remaining 85% [after taxes] in safe high paying interest insured CD’s etc. Look out side the US for the best rates Panama is paying up to 7% on large CD’S 70,000 per year on a million dollars worth of CD’s. Dubai is paying up to 10% on the same amounts, Check Cyprus as they have been in the 10% bracket also. Pay interest to a debit account, spend and live on the interest with a Debit card. Then if you have enough Dinar to cash in there could be a lot of interest to be almost as exorbitant as you like living the life of Riley so to speak. A 10M savings off shore could bring you interest of $700,000 to more than 1M a year in income. Can you live high on the Hog with that? [bondLady] 5. Lower your profile, do not flaunt your new wealth as the tort laws in this country allow Trial Attorneys to target you as a defendant. Trial or Tort lawyers are the only profession that never contribute to society but just create misery so they can take your rewards for your hard work. There are some good books on becoming invisible, buy one and follow as much as you feel comfortable. [bondLady] 6. Contribute to Charity on a fixed rate yearly; do not over contribute as they [most] spend money like drunken sailors as they contribute increasingly lower subsidies to the needy. [bondLady] 7. Change your lifestyle to a calmer existence; find peace and harmony with yourself. Find a compatible travel mate if you are single, travel the world into safe places and educate yourself to there way of life as it helps you understand how they think and rationalize. This promotes peace and harmony within yourself. [bondLady] 8. Above all think each move through, In the 1960′s I taught a course we designed on thinking for corporate management for a large Think Tank firm. We found that only 3% think, 12 % think they think and the rest just blunder through life failing to achieve any potential what so ever. This has held true even through today. The sorry school system does nothing to prepare kids to think and never will. [bondLady] 9. Spend a little of your splurge money on obtaining good advice from more than 1 source on how to invest your money, watch out for slick talking stock brokers or mutual type funds. Watch out for real estate as you can lose everything very quickly as the economy is still failing. Also remember #1. Watch out for taxes that pile on your estate. [bondLady] 10. Pray for guidance but please do not turn into zealot as this can override your mindset to a point you will not recognize happiness when you see it. Everything in moderation with a truly happy smile and enlightened smile on you face. Be a friendly person not someone who is critical of others lifestyles and their views on faith. Recognize everyone is born free and with their own opinion. Now that I have laid out some advice accumulated in my 73 years on this planet, I hope each and everyone can heed this simple advice for their own well being. May God bless you and you’re new found wealth, BUT; above all THINK! GenerationX ROGUE, thanks for bringing this valuable info. over for us to think about...As for me, I clearly want to be ABSOLUTELY certain that we made WISE decisions...after all, this could be a once in a lifetime opportunity to set us up financially for the rest of our lives...like retirement! 1 Link to comment Share on other sites More sharing options...
puckster_guy Posted November 13, 2011 Report Share Posted November 13, 2011 sounds good...can i get a canadian tax version of this? prob a bit diff here, beer is better Link to comment Share on other sites More sharing options...
cbs71 Posted November 13, 2011 Report Share Posted November 13, 2011 sound advice.... Link to comment Share on other sites More sharing options...
Elixirbaby Posted November 13, 2011 Report Share Posted November 13, 2011 I was asked to set the record straight for bondlady. Generation x was someone who used to post on BL site and she looked up to him for his knowledge . This info was takin from one of their early chats and was his words. She also wanted me to announce she's not 73 years old. In my book, bondlady rocks. Go RV 2 Link to comment Share on other sites More sharing options...
Elixirbaby Posted November 13, 2011 Report Share Posted November 13, 2011 . Link to comment Share on other sites More sharing options...
happygilmore Posted November 13, 2011 Report Share Posted November 13, 2011 I think we have to get there first! Link to comment Share on other sites More sharing options...
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