Pre & Post RV Facts

How True Professionals and Private Bankers Can Help You (Post RV)

3/18/2015

REPOST FROM 2012

"How True Professionals and Private Bankers Can Help You (Post RV)"
- by Mr. Anonymous

Lately as we seem to draw very near to the reality of pushing that "RV Button" there has been a lot of talk about Private Bankers, Bank Packages and following "gurus" to other so-called "investment" resources.

10 Things To Do When You Win The Lottery (Powerball)

12/16/2013

Great Advice for Whenever you Come Into Money...

Personal Finance
|
2/11/2012 @ 6:26AM |970,084 views

10 Things To Do When You Win The Lottery (Powerball)

Updated Dec. 14, 2013. There was no winner of the Friday the 13th mega millions lottery last night. The jackpot has rolled over to an estimated $550 million. If you win it in the next Lottery drawing, you won’t ever have to worry about money again–right?

Wrong.

Secret Millionaire

8/4/2013

My Favorite Show is Back.......Secret Millionaire...what I want to do when we receive this blessing..............in another community anonymously...(and not on TV)

VIDEO: Auntie Anne's Pretzels Founder Is the Latest Secret Millionaire

Liz Raftery
Aug 2, 2013 05:12 PM ET
by Liz Raftery

Secret Millionaire

ABC has resurrected Secret Millionaire, the reality show (formerly on Fox) based on a British series, about wealthy people who assume secret identities and donate thousands of dollars to charities. The first philanthropist to be featured on ABC's version is Anne Beiler, the founder of Auntie Anne's Pretzels.

On Sunday's episode, Beiler heads to Baltimore and works with three organizations in the poorest parts of the city over the course of a week.

Fall TV Preview: The most-anticipated new dramas

"This was probably one of the highlights of my whole life," Beiler tells TVGuide.com. "Many of these folks really don't have anything to begin with, and yet they were in these organizations, giving of themselves and of their time, with nothing in return. It was just very impressive, the passion that they had for their community and for their cause."

Though Beiler eventually revealed her true identity to the charities she was working with, she said that one of the more enjoyable aspects was pretending to be someone else for a week. "I went in just acting like I had just moved in [to the neighborhood]," Beiler recalls. "And they'd ask me questions about my family and my husband and my children. Sometimes I almost slipped into the mode of telling them who I really was, but I was able to keep it a secret all week. That part really was fun."

Fall TV Preview: The most-anticipated new comedies

Less fun, according to Beiler, was deciding how to distribute her money among the three organizations she worked with. "It was really tough ... because all of them are very deserving. I really did struggle about that," she says. "The one that I chose to give the most to I think was the one that would have had the hardest time getting funding. ... I chose them because I felt like they needed it the most, I guess. It was very difficult."

Watch Beiler get adjusted to her new surroundings in the clip below. Secret Millionaire premieres Sunday at 8/7c on ABC.

ALL ABOUT SECRET MILLIONAIRE

The secret's out! Some of America's most successful self-made millionaires are embarking on a truly incredible journey. They will spend a week in the country's poorest areas and ultimately reward some unsung community heroes with hundreds of thousands of dollars of their own money.

The secret's out! Some of America's most successful self-made millionaires are embarking on a truly incredible journey. They will spend a week in the country's poorest areas and ultimately reward some unsung community heroes with hundreds of thousands of dollars of their own money.

Based on the hit UK series of the same name, each episode of Secret Millionaire follows one of America's most successful business people for a week as they leave the comforts of home behind. They'll keep their true identities hidden while living in some of the country's most impoverished neighborhoods.

Residing in local housing on welfare-level wages, these "secret millionaires" will try to find the most deserving people within the community. We're talking about those selfless individuals who continually sacrifice everything to help anyone in need, and ultimately encourage others to do the same.

Throughout this incredible experience, the millionaires will come face-to-face with some truly extraordinary people who put their own needs aside for the sake of others. At the end of the journey, they'll reveal their true identity and donate their own money to these local heroes. It's a life-changing moment you won't want to miss.

http://abc.go.com/shows/secret-millionaire/blogs/news/about-the-show

Get Involved In Your Community!

    By ABC.com
    Posted June 25th, 2013 at 5:23 pm

Whether you want to volunteer locally, or you would prefer to contribute to an organization that is making a difference, here are some tools and ideas to help you get started!
Whether you want to volunteer locally, or you would prefer to contribute to an organization that is making a difference, here are some tools and ideas to help you get started! Read More »

http://abc.go.com/shows/secret-millionaire/blogs/news/get-involved

DOWNLOAD OUR "SECRET MILLIONAIRE" TOOL KIT
Looking for ways to make a difference in your hometown? Download our "Secret Millionaire" toolkit, get to know some of our "secret millionaires," read about their inspiring journeys and earn how you can get started in your local community.

DOWNLOAD THE TOOL KIT
http://a.abc.com/media/primetime/secretmillionaire/SCMToolkit.pdf

Secret Millionaire: Past Charities

    By ABC.com
    Posted June 25th, 2013 at 5:22 pm

A list of organizations that have been featured on past seasons of the show.

Read More »
http://abc.go.com/shows/secret-millionaire/blogs/news/past-charities

LOOK FOR THEM....FIND THEM....HELP & SUPPORT THEM

Illinois man facing eviction finds $4.85m lottery ticket in cookie jar

5/17/2013

Illinois man facing eviction finds $4.85m lottery ticket in cookie jar

Éanna Ó Caollaí

Last Updated: Friday, May 17, 2013, 10:21

A man whose family was due to be evicted from their US home struck lucky this week when he claimed a $4.85 million (€3.76 million) winning lottery ticket he had stored in a glass cookie jar months previously.

Ricardo Cerezo (44) purchased the winning Illinois State Lottery ticket at a petrol station in Geneva, Ill, in February and placed it along with several other tickets in a jar which had been bought for him by his recently deceased 14 year-old daughter.

Savannah Cerezo who died last August following a sudden illness had purchased the cookie jar a few months before she died. The jar was subsequently used to store lottery tickets and keepsakes of her, Mr Cerezo told NBC Chicago.

The family was on the brink of foreclosure when, prompted by his wife to clear out the jar, Mr Cerezo took the tickets to a nearby petrol station. The eighth ticket he checked had the winning numbers.

“The last ticket said ‘file a claim’ not a congratulations, not an amount, it just said ‘file a claim’”, Mr Cerezo said. While the message did not indicate the amount won, it meant he had won at least $600.

“When I realised we had all six numbers it was that shocking moment of ‘Whoah could this really be?’” he told a press conference after collecting his winnings.

He said he called his son over to double check the numbers after which he said he said “Yep, it looks like a winner”

It was only later that Mr Cerezo realised how much he had won.

“The honest first emotion was mammoth regret. And regret again because our youngest wasn’t here to enjoy this.”

Mr Cerezo was told at a foreclosure hearing to find a new home or face eviction just three months earlier.

“That was on February 12th, so we were sitting on $4 million at that time in this jar,” he said. “We will have our home paid off,” Mr Cerezo told a press conference.

He was presented on Wednesday with a cheque for $4,850,000 at the 7-Eleven where he originally purchased the ticket. After taxes, Mr Cerezo will receive $3,395,000 (€3.06 million).

The Cerezos are planning to pay bills, pay off their mortgage and share some of their winnings with their son and daughter. They also plan to contribute to charity. “It is very important to us that we help others with this money,” Mr Cerezo said.

© 2013 irishtimes.com

Source

Tax Day How to Pay No Taxes: 10 Strategies Used by the Rich

3/3/2013

Tax Day How to Pay No Taxes: 10 Strategies Used by the Rich

By Jesse Drucker on April 17, 2012

If you have lots of money, Tuesday, April 17, was one of the best tax days since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts remain at or near historically low levels. That’s thanks, in part, to legislation passed in December 2010 by the 111th Congress and signed by President Barack Obama. Starting next January, rates may be headed higher.

For the 400 U.S. taxpayers with the highest adjusted gross income, the effective federal income tax rate—what they actually pay—fell from almost 30 percent in 1995 to just over 18 percent in 2008, according to the Internal Revenue Service. And for the approximately 1.4 million people who make up the top 1 percent of taxpayers, the effective federal income tax rate dropped from 29 percent to 23 percent in 2008. It may seem too fantastic to be true, but the top 400 end up paying a lower rate than the next 1,399,600 or so.

That’s not just good luck. It’s often the result of hard work, as suggested by some of the strategies below. Much of the income among the top 400 derives from dividends and capital gains, generated by everything from appreciated real estate—yes, there is some left—to stocks and the sale of family businesses. As Warren Buffett likes to point out, since most of his income is from dividends, his tax rate is less than that of the people who clean his office.

The true effective rate for multimillionaires is actually far lower than that indicated by official government statistics. That’s because those figures fail to include the additional income that’s generated by many sophisticated tax-avoidance strategies. Several of those techniques involve some variation of complicated borrowings that never get repaid, netting the beneficiaries hundreds of millions in tax-free cash. From 2003 to 2008, for example, Los Angeles Dodgers owner and real estate developer Frank H. McCourt Jr. paid no federal or state regular income taxes, as stated in court records dug up by the Los Angeles Times. Developers such as McCourt, according to a declaration in his divorce proceeding, “typically fund their lifestyle through lines of credit and loan proceeds secured by their assets while paying little or no personal income taxes.” A spokesman for McCourt said he availed himself of a tax code provision at the time that permitted purchasers of sports franchises to defer income taxes.

For those who can afford a shrewd accountant or attorney, our era is rife with opportunities to avoid—or at least defer—tax bills, according to tax specialists and public records. It’s limited only by the boundaries of taste, creativity, and the ability to understand some very complex shelters. Here’s a look at some of them:

The ‘No Sale’ Sale
Cashing in on stocks without triggering capital-gains taxes

An executive has $200 million of company shares. He wants cash but doesn’t want to trigger $30 million or so in capital-gains taxes.

1. The executive borrows about $200 million from an investment bank, with the shares as collateral. Now he has cash.

2. To freeze the value of the collateral shares, he buys and sells “puts” and “calls.” These are options granting him the right to buy and sell them later at a fixed price, insuring against a crash.

3. He eventually can return the cash, or he can keep it. If he keeps it, he has to hand over the shares. The tax bill comes years after the initial borrowing. His money has been working for him all the while.

Seller beware: The IRS challenged versions of these deals used by billionaire Philip Anschutz and Clear Channel Communications (CCMO) co-founder Red McCombs. A U.S. Tax Court judge in 2010 ruled that Anschutz owed $94 million in taxes on transactions entered into in 2000 and 2001. He lost an appeal last December. McCombs settled his case in 2011. Despite the court cases, such strategies “are alive and well,” says Robert Willens, who runs an independent firm that advises investors on tax issues.

The Skyscraper Shuffle
Partnerships that let property owners liquidate without liability

Two people are 50-50 owners, through a partnership, of an office tower worth $100 million. One of the owners—let’s call him McDuck—wants to cash out, which would mean a $50 million gain and $7.5 million in capital-gains taxes.

THANKS DAVE

Page 1 of 4

Read More Click here

12 Outrageous Quotes From ESPN's Documentary On Athletes Going Broke

3/2/2013

Thanks LJ

12 Outrageous Quotes From ESPN's Documentary On Athletes Going Broke

Cork Gaines | Oct. 3, 2012, 9:47 AM | 873,071 | 17

ESPN

ESPN debuted the latest installment of their incredible "30 for 30" series, with "Broke," a look at how millionaire athletes end up losing all their money.

Many of the stories we have heard before (lavish spending, child support, failed businesses). But it was different to hear those same stories as told by the athletes themselves.

Within the interviews, there was bitterness. There was blame. There was sadness. There was regret. But most of all, there were outrageous quotes about how it happened.

It was clear that the athletes had little concept of how much they were spending

And there was also the competition to have more than other athletes

Many athletes also don't realize that most businesses fail

The 'had to have it' mentality is very prevalent

The athletes also weren't shy about blaming others

And saying 'no' is something many of these athletes struggle with

In many cases, the athletes felt a sense of responsibility for those that helped them become stars

Even when it is just little things like cell phones

There's also the responsibility of raising children, even after an athlete's career has ended

After time they don't realize how much their spending adds up

The athlete mentality is generally that they will just keep playing and keep making money, but it rarely works that way

In many cases the athletes sounded bitter, but Bernie Kosar was able to find a silver lining

Now check out some surprisingly rich athletes
Read more: http://www.businessinsider.com/espn-30-for-30-broke-quotes-2012-10?op=1#ixzz2AOibT8HV

Broke 30 for 30~~Sudden Wealth

10/26/2012

As mentioned on our conference call last night by LJ from LJ's Next Step Team

BROKE Directed by Billy Corben More money, more problems. Broke digs into the psychology of men whose competitive nature carried them to victory on the field yet seemed to ruin them off the field. The Vault: Keyshawn Johnson Director's statement

About Broke:

Film Summary

According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress. Sucked into bad investments, stalked by freeloaders, saddled with medical problems, and naturally prone to showing off, many pro athletes get shocked by harsh economic realities after years of living the high life. Drawing surprisingly vulnerable confessions from retired stars like Keith McCants, Bernie Kosar and Andre Rison, as well as Marvin Miller, the former executive director of the MLB Players Association, this fascinating documentary digs into the psychology of men whose competitive nature can carry them to victory on the field and ruin off it.

Director Billy Corben (The U, Cocaine Cowboys, Limelight) paints a complex picture of the many forces that drain athletes' bank accounts, placing some of the blame on the culture at large while still holding these giants accountable for their own hubris. A story of the dark side of success, "Broke," is an allegory for the financial woes haunting economies and individuals all over the world.

Director's Take

In June 2009, we interviewed quarterback Bernie Kosar for the ESPN 30 for 30, The U. Anyone who knows Bernie will tell you, he's as kind and generous a guy you could ever meet. In fact, he was extremely generous with his time that morning; he talked with us for several hours and, afterwards, took pictures and signed autographs for the crew.

A few weeks later, Dan LeBatard broke the news: Following a series of bad investments and a costly divorce, Kosar had filed for bankruptcy. It was a shock. Beyond football, Kosar was renowned for his business savvy and known to have been even more financially successful after his decade-long NFL career than during it.

Personally, it broke my heart. Other than appearing tired at times, there was little or no indication during the hours Bernie spent with us that he was in the midst of this ordeal.

In the early part of the millennium, you'd occasionally hear about a high profile athlete suffering financial difficulties, but Pablo Torre's article, 'How (and Why) Athletes Go Broke,' in the March 2009 Sports Illustrated, cast a spotlight on what seemed to be an emerging epidemic in the wake of the 2008 economic meltdown.

These days, it seems there's a new story every week and we felt these stories were worth exploring. Not everyone was so enthusiastic about it, though.

They say the most uncouth subjects for dinner conversation are politics and religion. I gotta add money to that list. Athletes, a famously proud group, were not particularly anxious to discuss the state of their finances, so getting interviews for this project, not surprisingly, proved to be a challenge. I really admire the people who agreed to speak with us because they sincerely felt like they have something to offer the next generation and hope that others will learn from their experience.

The way "Broke" is structured, it's not about people, per se, but the problem, told by the people who experience(d) it. It's essentially a step-by-step guide, How To Lose Millions of Dollars Without Breaking a Sweat.

Conventional wisdom is that professional athletes blow a lot of money on useless crap. Spoiler alert: professional athletes blow a lot of money on useless crap. But that's barely the tip of the iceberg. I was surprised to discover -- and I think others will be, too -- how easy it is to go broke. .

Source Link

Repost~~Scam School by Chuck Whitlock

7/20/2012

REPOSTED - This is a good time to remind you about this book - and the scams that are out there....

Thanks to Mr Anonymous for telling me about this book.....

Scam School by Chuck Whitlock

They are Out to Get You!

Chuck Whitlock, the world's leading scam-buster, wises you up to the incredible variety of cons just waiting to rid you of your wallet, your health, and your pride. Renowned to viewers of Oprah and Hard Copy, Geraldo and Sally Jesse Raphael, Inside Edition and CNN, Chuck Whitlock has exposed hundreds of con artists and reenacted scores of scams on camera. In his Scam School he reveals the tricks of the con artist's trade as he recounts his adventures going undercover to expose the most common and crafty scams circulating today — scams like:

    The faith healer who sold "human fat" candles at $900 a pop
    The new hire who wooed his boss and then bilked her out of her life savings
    The Three-Card Monte game that cost one man $25,000
    The nursing home that double-charged patients and Medicare, pocketing the profits

At once shocking, entertaining, and empowering, the true stories in Chuck Whitlock's Scam School will give you a Ph.D. in street smarts. "In a culture where people are increasingly being victimized by fraud, Scam School is a must read." --

Vincent Bugliosi, Author of Helter Skelter "Chuck has educated millions of viewers about the dangers of con artists. This book can help avert tragedies." --

Sally Jesse Raphael "Knowledge is power. Scam School will make you powerful." --

John G. Di Liberto, President & Ceo, National Insurance Crime Bureau "Through his investigative reporting and on-camera scams, Chuck has probably cost con artists millions of dollars in lost revenues"

Will Rich People Desert the U.S. If Their Taxes Are Raised?

5/8/2012

Will Rich People Desert the U.S. If Their Taxes Are Raised?

By BRUCE BARTLETT | New York Times – 1 hour 25 minutes ago

Bruce Bartlett held senior policy roles in the Reagan and George H.W. Bush administrations and served on the staffs of Representatives Jack Kemp and Ron Paul. He is the author of "The Benefit and the Burden: Tax Reform - Why We Need It and What It Will Take."

On April 30, the Treasury Department announced that 461 Americans had renounced their citizenship in the first quarter of 2012. A 1996 law requires that every person doing so be named, with their names published in the Federal Register. The idea is to shame those who may be renouncing their citizenship solely to escape taxation.

The extreme step of renouncing one's citizenship is necessary to escape taxation by the United States, because the United States, alone among the major nations of the world, taxes its citizens wherever on earth they live.

Other countries tax only those who live and work within their borders; if their citizens live and work in another country, they are liable only for taxes incurred in that country.

Americans living abroad, however, must not only pay taxes in the country in which they are living, but United States taxes as well, although there is an exemption of $93,000 that is adjusted for inflation annually. The only legal way for American citizens to avoid American taxes is to renounce their citizenship and live their lives permanently in another country.

In recent years, the number of Americans renouncing their citizenship has increased. According to the international tax lawyer, Andrew Mitchel, the number of Americans renouncing their citizenship rose to 1,781 in 2011 from 231 in 2008.

This led William McGurn of The Wall Street Journal to warn that the tax code is turning American citizens living abroad into "economic lepers." The sharply rising numbers of Americans renouncing their citizenship "are canaries in the coal mine," he wrote.

The economist Dan Mitchell of the libertarian Cato Institute was more explicit in a 2010 column in Forbes, "Rich Americans Voting With Their Feet to Escape Obama Tax Oppression."

According to Andrew Mitchel's research, the sharp rise in Americans renouncing their citizenship since 2008 is less pronounced than it appears if one looks at the full range of data available since 1997, when it first was collected. As one can see in the chart, the highest number of Americans renouncing their citizenship came in 1997.

Mr. Mitchel hypothesizes that the reversion of Hong Kong to Chinese control may have forced many residents of that former colony with dual citizenship to renounce their American citizenship, because China does not recognize dual citizenship.

It is undoubtedly the case that the vast bulk of those renouncing American citizenship do so for reasons unrelated to taxation. Americans who marry foreign nationals, for example, often adopt the citizenship of their spouse's nation. Also, many of those on the Treasury list are not actually American citizens, but foreigners who had permanent residence status in the United States. Those born with dual citizenship sometimes prefer to have only one to simplify their lives.

However, reports by Bloomberg News and the Zurich newspaper Tages-Anzeiger suggest that increased scrutiny by the Internal Revenue Service of Americans living in Switzerland, where a number of banks are suspected of aiding tax evasion, may have led some American expatriates living in that country to renounce their citizenship.

The mobility of individuals with a large net worth - who generally have no difficulty finding a nation to welcome them and their capital - has unquestionably increased in the last several years, especially within the European Union, where barriers against the movement of people have fallen sharply. This has reduced the ability of all governments everywhere from engaging in soak-the-rich policies.

As I noted in a recent post, Britain recently reduced its top income tax rate in part because of a belief that it would reduce the number of Britons living abroad. And the victory of the Socialist François Hollande in France's presidential election on Sunday, on a platform of raising the top tax rate to 75 percent, may lead to some relocation from there, according to an article in The Financial Times.

However, while there is no doubt that some people do migrate solely because of taxes, the number is small even when it doesn't involve a loss of citizenship.

Source

Wealth management a top priority for banks

4/23/2012

Wealth management a top priority for banks

Posted on Monday, 04.23.12

Wealth management is a top priority for many banks and financial firms across South Florida, and they court their high net worth clients in myriad ways. Seated in a private room at Café L’Europe in Palm Beach, jeweler Judith Ripka munches on her Mandarin Chinese chicken salad and listens to Valerie Ramsey discuss her book, √Gracefully — Looking and Being Your Best at Any Age. Ripka flew in from New York especially for the luncheon, hosted by Sabadell Bank & Trust for three dozen of its wealth management clients and guests, as part of its “Women’s Connoisseur Series.”

“This bank is a wonderful bank,” said Ripka, who bought a vacation home in Palm Beach two years ago and was referred to the bank by her real estate broker. “They understand their clients, but they care about the clients, too.”

Genteel as can be, the setting offers a peek at the perks of South Florida’s wealthy banking clients who entrust financial firms to invest their savings, build for their future and plan their estates.

Catering to those clients by giving top-notch service — even, in the case of Sabadell, chauffeuring one attendee who had broken her foot and couldn’t drive — is all part of the package.

“We really try to make it informative, useful information,” said Debra Vasilopoulos, regional president of Palm Beach County for Sabadell Bank & Trust, whose events also include a series of lectures by Johns Hopkins physicians. “In addition to our clients needs, we care about their well-being.”

Across South Florida, banks, trust companies and financial advisory firms of all sizes are focusing on wealth management as a key part of their financial repertoire.

“If you intend to deal with businesses and their owners and professionals and high net worth individuals, it’s essential that you be in the wealth management business,” said Mario Trueba, president and chief executive of Miami-based Sabadell United Bank, which bought failed Lydian Private Bank last year to convert it to its wealth management division, Sabadell Bank & Trust.

Investing for the wealthy has a rich history nationwide.

J.P. Morgan has been serving the upper crust for more than 160 years. Northern Trust bases its heritage, dating to 1889, on the wealth management business. Fiduciary Trust International of the South has managed money for high net worth individuals and foundations since 1931.

Major banks such as Wells Fargo also cite the segment as its utmost priority.

“The number one strategic initiative for all Wells Fargo is to grow our wealth management business,” said Jason Williams, Miami-based regional managing director of Wells Fargo Wealth Management. The mandate is spelled out in a booklet on the bank’s vision and values, which he carries in his jacket pocket.

Wealth management is defined as “financial services provided to wealthy clients, mainly individuals and their families,” said Alexander Camargo an analyst at Celent, a financial services research and consulting firm.

To enter the domain, wealth management firms require a minimum level of investable assets. Many banks segment their customers into tiers of wealth, defined differently by each bank. Celent defines the tiers as beginning with the mass market, those with liquid assets up to $250,000, followed by the mass affluent market, those with $250,000 to $1 million in investable assets, then high net worth clients of $1 million to $10 million, and lastly ultra high net worth investors above $10 million, Camargo said.

In South Florida, wealth management has weathered the economic downturn better than many other areas of banking and is the closest of any segment to being recession-proof, said Ken Thomas, a Miami-based economist and independent banking consultant.

It is also one of the three segments — along with the huge retail market and the international banking/trade finance business — that make South Florida one of the nation’s five most attractive areas for banking, he said.

Moreover, wealth management has the most growth potential of all three, Thomas said, which is why every institution wants in on the game.

“There is more demand for wealth management because the rich are getting richer,” he said. “And it is even more so in South Florida because we have access to more wealth because of the proximity to Latin America”

Indeed, as institutions compete for a slice of the lucrative pie, the competition for clients is fierce. And every institution touts its approach as best.

“The end consumer is demanding a holistic one-stop shop, and financial institutions are going to have to meet that demand to be successful into the future,” said Jeff Ransdell, managing director and market executive for the Southeast for Merrill Lynch Wealth Management, which is part of Bank of America.

Perhaps most of all, wealth management bankers and clients cite the importance of their relationship.

When Danny Toccin sold his portfolio of apartment buildings in 2005, he needed to find an alternative way of investing. So he interviewed various firms and divided his funds among four institutions, including Wescott Financial Advisory Group.

“I need a total comfort level,” said Toccin, 62, of Miami. “I am a micromanager by heart, and I want to know where I am, where we stand, where we are going. I also didn’t want to be a minnow in an ocean. I wanted to be somewhere I would be like a big fish in a lake.”

But after a while, he found he didn’t feel comfortable with the other three firms.

“With Wescott I have so much trust in them that I probably did something other investors wouldn’t do,” said Toccin, who has a wife, Ferne, and two grown children. “I put all my eggs in one basket because I have so much trust and there is so much transparency.”

Indeed, Wescott Chief Executive Grant Rawdin views the advisor/client relationship as very personal. The firm even has an industrial psychologist test prospective advisors for empathy before hiring them.

“It’s why I changed my career from being a tax and business lawyer to being a financial advisor,” said Rawdin, who divides his time between offices in Coral Gables and Philadelphia. “They close the door and they tell you things. You become a psychologist. Money leads into other intimate admissions and issues.”

Financial firms say they bring in new clients through referrals from other clients, attorneys and accountants, as well as from the networking bankers in the community.

For banks and financial firms, wealth management starts with devising a plan, and input from the client is paramount.

“We really want to get to know our clients.” said Alex Navarro, senior vice president and private financial advisor at SunTrust in Bal Harbour. “It’s like going to a financial doctor. We want the client to feel comfortable enough to disclose all their financial concerns so we can do a good job at addressing them. The financial advice is only as good as the information we get.”

In fact, analysts and bankers say that amid the turbulent stock market, clients have become more watchful of their investments.

“Consumers are more demanding now,” said Camargo of Celent. “They want to see their advisors more, they want their advisors to inform them of the risk more, and they want to know they are protected on the downside, so if the market crashes, they don’t lose their entire life savings.”

Going a step beyond is also de rigueur. Many South Florida institutions invite their high net worth clients to a range of seminars, sporting events and concerts that they sponsor, along with speaker-led luncheons and dinners.

J.P. Morgan Private Bank dedicates the 33rd floor at 1450 Brickell Ave. in Miami to its wealthy clients, a private client center unparalleled in cities other than New York, said Phil Conway, Southeast regional head of J.P. Morgan Private Bank.

The center offers lounges and private dining rooms, conference rooms with video capabilities, a sky-high view and a chance to see the bank’s extensive contemporary art collection, which was started by David Rockefeller.

J.P. Morgan also provides summer and winter reading lists to its private clients. Northern Trust hosts a literary society in Miami that meets regularly.

In February, UBS hosted an event in Miami with former presidents Bill Clinton and George W. Bush for its wealth management clients.

And Wells Fargo and Fiduciary Trust have met with clients on private retreats to discuss investing and estate planning, and to teach younger generations to be responsible stewards of their wealth.

Read more here: http://www.miamiherald.com/2012/04/22/2760540/wealth-management-a-top-priority.html#storylink=cpy

FAKE CHECKS~~Scams & Frauds Tests & Prevention

4/22/2012

Another Great Site to Check about Scams and Frauds and How to Prevent you from being taken...

FAKE CHECKS.ORG

Scams

Foreign Business Offers
Love Losses
Overpayments
Rental Schemes
Sudden Riches
Work-at-Home

http://www.fakechecks.org/prevention.html

Take the Fraud Tests

http://www.fakechecks.org/fraudtest.html

FAQ'S

What is a fake check scam?
What are the warning signs?
What are the most common types of fake check scams?
How do I know if it’s true that I’ve been selected for a cash grant?
How can I tell if it’s a legitimate mystery shopper opportunity?
How can I tell if a check or money order is counterfeit?
How do the scammers find victims?
If I can get the cash, doesn't that mean the check or money order is good?
Why can’t my bank, credit union, or check cashing service tell if the check or money order is good?

Why do the scammers want cash to be sent using a money transfer service?
How much could I lose in a fake check scam?
How can I prevent becoming a victim?
What if I deposited or cashed the check or money order but haven’t sent the cash yet?
What if I have already sent the cash?
What are law enforcement agencies doing?
What are the Web sites that scammers use to find victims doing?
What are financial institutions and money transfer and delivery services doing?
What are legitimate sweepstakes companies doing?
What can I do?
What are some other popular scams?

http://www.fakechecks.org/prevention-faqs09.html

Straight Talkin MikeLooks too good to be TrueFraud Risk Assessment Tests

4/21/2012

Looks too good to be True~~Fraud Risk Assessment Tests
Are you about to be a victim of Fraud?

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http://www.thestraighttalkexpress.com/1/post/2012/04/looks-too-good-to-be-truefraud-risk-assessment-testsare-you-about-to-be-a-victim-of-fraud.html

WARNING OF BANK SCAM TO STEAL YOUR DINAR

4/21/2012

Received this morning

Another Scam

As discussed on the conference call Thursday, April 19.....DO NOT GIVE YOUR DINARS TO ANYONE - YOU CAN NOT CASH IN UNTIL THERE IS A LIVE RATE...AND YOU CAN VERIFY AT THE BANK OF YOUR CHOOSING

WARNING OF BANK SCAM TO STEAL YOUR DINAR!!!by

Mr.IQD HAT TIP: Anonymous Email ( credit to "Judy")

Dear Dinar Friends,

Tonight I heard of a "nice man" here in the Phoenix area who was gathering up Dinar to take to WF tomorrow to negotiate a rate for cash in.

He was throwing $20 - $30 rate around.

I personally heard him say he needed the receipt along with the dinar so the bank could verify the dinar and that he had collected $120 million this evening.

1) The only person to take their dinar to the bank should be YOU!
2 Giving him your receipt means he can claim you gave him your dinar.
3) Bank will verify the dinar by several other means.
4) A "nice person" will not ask you for your dinar.

Two members of our little dinar group here were approached by him.

Let me say this clearly:
DO NOT GIVE YOUR DINAR TO ANYONE FOR ANY REASON!

DO NOT MEET ANYONE, BROKER, ETC. IN A MOTEL ROOM, BAR, HOTEL LOBBY FOR CASH IN.

REPUTABLE PEOPLE WILL NOT ASK YOU TOO.

If the bank officer wants to take it to another room to verify YOU GO WITH THEM!

Source

Repost~~"How True Professionals and Private Bankers Can Help You (Post RV)"

4/21/2012

Good time to repost this helpful information from Mr Anonymous

"How True Professionals and Private Bankers Can Help You (Post RV)"
- by Mr. Anonymous

Lately as we seem to draw very near to the reality of Dr. Shabibi pushing that "RV Button" there has been a lot of talk about Private Bankers, Bank Packages and following "gurus" to other so-called "investment" resources.

First, I would like to say that most of us, probably a good 98% of us Dinarians have never had any real life experience with a Bank or a Personal Wealth Manager. Therefore, as we are not familiar with this level of sophistication, we have normal fears, anxiety and apprehensions about dealing with these Investment Professionals. This is very normal to be nervous and uncertain!!! Read on, hopefully I can put some or all of your fears to rest.

However, first I want to caution you! Right now, you are the most vulnerable to being taken advantage of by con artists, hustlers and confidence men. You must not allow yourself to be rushed in to anything that you do not understand. Refrain from telling ANYONE how much Dinar you own, don't register for seminars, or newsletters, or serial number registry services - it is my opinion that many or even most of these self-proclaimed so-called "gurus" are trying to use your fear to collect your confidential information which they will sell later after the RV, or they will use it themselves to take advantage of you.

Recently more and more of these "gurus" have been exposed as "hacks" who call the RV every other day!!! Do you really feel you can trust an individual that seems more obsessed with their own self-glory, than with doing what is right for the Dinarian community?

So, all that being said, just to keep the Attorneys happy, remember that I, nor the IQD Team or any other website where you may be reading this, does not give financial advice, and that these are illustrations only, and that everyone's situation is different and therefore you must consult your own professionals for advice that is relevant to your situation.

DONT INVEST IN ANYTHING YOU DON'T UNDERSTAND!!!

The great Warren Buffet has said many times that one of his guiding principles is that he never invests in to something that he does not understand!!! Considering that Mr. Buffet is one of the wealthiest men in the world, I will take his advice at face value, and follow it. Therefore, repeat after me: "I will not be rushed in to investing in to something that I do not understand".

That being said, remember this, if it was a good, sound investment idea, it will be a good sound investment idea tomorrow, next week, next month or even next year!

Another couple of quick tips while I'm on this topic: remember to diversify, and use a rule of thumb of not investing more than a few percentage points of your total wealth in one area. Most high-level professional portfolio managers would never dream of investing more than a few percent in to any one stock - NO MATTER HOW "HOT" IT IS!!!

USING INTEREST FREE BANK ACCOUNTS & TAG ACCOUNTS

Okay, somehow this whole notion of these interest free accounts and "TAG" accounts has made its way in to the Dinarian world. This was probably brought in by some "guru" who was trying to make a name for him or her self.

The truth is, when this Iraqi Dinar RVs, you will have access to several Personal Bankers that will work with you personally to structure your accounts accordingly.

They will also accommodate temporary accounts for you if you wish to have wire transfer funds sent in to your accounts. They will also accommodate moving your money in to your more permanent accounts. This will protect you from any improbable chance of a "back/reverse" wire transfer.

However, I would like to say something about this so-caled "back/reversing" of Wire Transfers. I currently work for a global manufacturing company that sends and receives international wire transfers all the time! Each transfer is tens of thousands of dollars, or hundreds of thousands of dollars. In over 30 years of business, with thousands of these wire transfers from almost every country in the world, this manufacturing company has NEVER, EVER, EVER had a wire transfer reversed!!! Just keep that in mind. People and "gurus" like to say it can happen to scare you, so you will follow them! Don't be fooled.

Next, your Personal Banker and Investment Professionals will open your eyes to how the "Wealthy People" and large businesses are treated. Don't you know that "Wealthy People" and large businesses have access to "insurance protection" on their deposits and investments, many have access to protection up to $50 Million each account???

Do you really think that you will have to worry about the small FDIC limit of $250,000.00??? This FDIC limit is for the "common person" or "middle class". Don't be mislead by these hack "gurus" and fear mongers! They are either completely misinformed themselves, or they really do know the truth, but chose to mislead you anyways so you will follow them!!!

HOW THE MONEY WORKS!!!

Okay, first you must understand the basics of why the banks will bend over backwards to get your Dinar post RV!

And, before I go on, I have read so many posts, and have heard so many questions on Conference Calls about Banks refusing to talk to people, or help them with their Dinar. That is correct, today (pre RV) the "common, low level" employees of Banks are told by upper management that this is a "scam" etc. So, when you talk to them, they of course tell you what they were told by their boss. Don't mistake, that employee may secretly agree with you, but they will never tell you anything more that the official word from corporate! So, don't be discouraged that your local bank says that the Dinar is a scam and they will not work with you. That will all change POST RV.

Okay, back to why Banks will bend over backwards to get your money. The following picture is courtesy of HowStuffWorks.com and it shows the deposits-to-lending power. You can find a detailed report on this process by going to www.TheIQDTeam.com and look under the "pre/post RV" section. From the above image, you can see that our Banks create money in the economy by making loans. The amount of money that banks can lend is directly affected by the reserve requirement set by the Federal Reserve.

The reserve requirement is currently 3 percent to 10 percent of a bank's total deposits. This amount can be held either in cash on hand or in the bank's reserve account with the Fed.

To see how this affects the economy, think about it like this. When a bank gets a deposit of $100, assuming a reserve requirement of 10 percent, the bank can then lend out $90.

That $90 goes back into the economy, purchasing goods or services, and usually ends up deposited in another bank. That bank can then lend out $81 of that $90 deposit, and that $81 goes into the economy to purchase goods or services and ultimately is deposited into another bank that proceeds to lend out a percentage of it.

In this way, money grows and flows throughout the community in a much greater amount than physically exists. That $100 makes a much larger ripple in the economy than you may realize!

When you walk in to the bank with several hundred thousands of dollars worth of Iraqi (IQD) Dinar, their lending department is going to think it is Christmas!!!

The Bank's Branch Manager will want to meet with you and also arrange for you to sit down with their Private Banker. This is a very normal process, and soon you will become accustomed to not standing in that "common peoples" line, waiting for a teller window. You will sit in a nice office, or at the minimum a very comfortable chair at a nice desk. You know, those people you have noticed all your life, but never really understood why they were sitting over there???... Right!!! Are you starting to feel it?

MEETING WITH THE BANKS PERSONAL BANKER - WHAT TO EXPECT So, when the Banks personal Banker meets with you, here in short is what you can expect. They will treat you like a VIP!!! And before I go any further, I've heard many callers talk about their "BAD CREDIT". First, don't worry any longer about your "bad credit" when you have this kind of money post RV, your credit file will "magically disappear" and will not be a real issue any longer.

So, if a Personal Banker tries to tell you that you can get a loan to buy a house, but that loan will be a higher interest rate because of your "bad credit", tell them that they need to do something or else, you will close your accounts and move your money to the Bank across the street! Understand!!!

Don't let them push you around! If you have really bad credit, then there are separate seminars of credit repair professionals that have excellent strategies on how to get that repaired or discharged. Do not pay off any old debts (especially ones that have been discharged) without first seeking professional help.

For most financial institutions, their Private Banking model will provide to you a dedicated Private Banker, who is also an accredited financial adviser. They will often be supported by a team comprised of dedicated Private Banking Associates and a Manager of Credit Structures, to do the "technical" work for you. Additionally, each member of this team will be educated to understand your complete financial picture and work closely with you to achieve your personal and financial goals.

I would like to interject here now a word of caution, don't invest all your eggs in one basket. If you have post RV several $Million available for investments, don't tell this one Bank's Persoanl Banker how much you have in total, maybe only tell them you have $250,000.00 or a $Half Million to invest with them. Don't tell them what you have in total, and don't be afraid to make multiple relationships with the top banks in your area! Got it?!!! Spread it around and Don't Tell!!!

PRIVATE BANKERS PROVIDE YOU A UNIQUE ADVANTAGE

This unique advantage you will now have post RV of having both a Private Banker and a Credit Specialist working close together is that you can be put on the fast track to responsive high-end credit vehicles.

Their combined expertise can help you to leverage your credit to grow your personal wealth, create personal equity in your company (if desired to still own a company post RV). They can help you to acquire or diversify investment holdings, purchase real estate, provide financial assistance for family members or consolidate your existing lending.

Your Private Banker can help you to take comfort in understanding better the aspects of your risk tolerance and help you to take advantage of flexible financing options such as LIBOR or Bankers Acceptance (BA) facilities.

While remaining your primary point of contact, your Private Banker is also able to draw upon the extended support of a diverse group of Industry Professionals. Instead of having to deal with multiple service providers, should you require the specialized services of an investment specialist or a commerical banker, that person will be included as part of your financial team.

IN CONCLUSION...

Right now there is a lot of mis-direction and out right lies being posted and said to confuse many of us in to believing that these "gurus" have some sort of "inside secret" knowledge that we all can't possibly have access to! That is 100% rubbish in my humble opinion. They have no special intel or inside information. Many are out there saying they have special Bank packages!

That is nonsense, you will be able to go to your local bank and talk to your Private Bankers, interview several of them, and then come up with your own "bank package". Many of these gurus say theirs is special because of the size of their group! I say "BS"!!!

First of all, none of the banks are even accepting the IQD Dinar as a legitimate "Investment", most banks currently are calling it a "scam" and maybe even a few have laughed at you as you leave their branch with your tail between your legs! Right!!! Okay, so what makes a "guru" have anything better??? Lets be real, come on!!!

Many people recently have been finally calling these "gurus" out, asking them to stop their noise and nonsense that is so very disruptive to a vast many of us Dinarians! We have grown tired of hearing that is has RV'd, or it will RV on Tuesday, and if not, then on Thursday. Or that the bank screens are flashing, or the virus attacked.

Heck, I remember late last year "gurus" saying the RV was held up because of an Asteroid that was possibly going to hit the planet, and that the UN and Top Military Officials had to come up with an "anti-astroid" defense system, and there was no time to talk about an RV!!!! REALLY??!!! I mean seriously guys (gurus) REALLY??!! But, they said nonsense out there like that, its been posted, its find-able by search engines if you even care to look.

To finish up on a positive note, I encourage you to read the latest news, you can find it posted on TheIQDTeam.com website, listen in to their calls for analysis and Straight-Talking Mike's expertise at making it understandable by us "common" folk. He does a really good job of it.

Another thing I highly encourage you to get off that "guru" roller-coaster and keep yourself grounded with the news and facts.

Lastly, don't sign up for bank packages, don't give away your personal information to these "gurus" because you don't know if they have an ulterior motivation. It is my humble opinion they want your contact information so that they can sell it post RV, or use it for other reasons which I can only assume are not always going to be with your best interest at heart.

SOURCE AND LINK TO PICTURES

Mega Millions winner in Kansas claims share of prize - but chooses to remain anonymous

4/6/2012

Something to remember...ANONYMOUS

Mega Millions winner in Kansas claims share of prize - but chooses to remain anonymous

NBC's Savannah Guthrie reports.

By James Eng, msnbc.com Updated at 5:36 p.m. ET: One of the three winners of the record $656 million Mega Millions jackpot has claimed his or her share of the prize in Kansas but has chosen to remain anonymous, Kansas Lottery officials said Friday.

The announcement was made at an afternoon press conference at state lottery headquarters in Topeka.

Under Kansas law, lottery winners can choose not to publicly reveal their identities. Dennis Wilson, Kansas Lottery executive director, said the state's winner "has chosen that option."

The winner retained legal counsel and a financial adviser and "looks forward to retiring," Wilson said.

The winning ticket was purchased at a Casey's General Store in the eastern Kansas town of Ottawa, Wilson said. The winner had the choice of taking the annuity option of $218.6 million, paid in 26 installments, or the cash option of $157.9 million paid in one lump sum. The winner opted for the cash option and after taxes the winner will receive a check for $110.5 million.

Dennis Wilson, executive director of the Kansas Lottery, announces that the winner of one-third of the Mega Millions jackpot has chosen to remain anonymous.

"It’ll take a few days for us to transfer the money to their account. It was a single ticket holder – one person claimed the ticket," Wilson said.

The Casey's store will receive a $10,000 bonus from the Kansas lottery for selling the winning ticket.

The person didn't check the winning numbers until Monday. "They checked it over 10 times … and still had a hard time believing it," Wilson said.

As for choosing to remain anonymous, Wilson said the winner obviously doesn't want the publicity.

"We all have to understand that these kind of winners need time to digest. They were still in awe that they had won it," Wilson said.

"They're like all of us. They think about the possibility of winning but they never think that it would happen to them - but it did. It proves real people really win - and you could be next.

Lottery officials have said the other two winning tickets were sold in Maryland and Illinois. But so far no one has stepped up to claim his or her share of the prize in those states – at least no one who has produced a valid ticket.

One Maryland woman, Mirlande Wilson, a McDonald’s employee and mother of seven, had claimed to media outlets earlier in the week that she purchased the winning ticket to last Friday night's drawing. But doubts quickly surfaced, and on Thursday Wilson told NBCWashington.com she seems to have misplaced the ticket. Wilson previously had said she hid the ticket at the McDonald's where she works.

Maryland lottery officials said no one has stepped up in that state to claim a share of the prize, the largest in lottery history. Likewise, the Illinois winner has yet to come public.

The winning numbers were: 2-4-23-38-46 and the Mega Ball 23.

Source

Dinar Recaps~~7 Secrets of Self-Made Millionaires

4/4/2012

7 Secrets of Self-Made Millionaires
By Grant Cardone

Learn how to generate multimillion-dollar wealth -- and enjoy the journey on your way to the top.

First, understand that you no longer want to be just a millionaire. You want to become a multimillionaire.

While you may think a million dollars will give you financial security, it will not. Given the volatility in economies, governments and financial markets around the world, it's no longer safe to assume a million dollars will provide you and your family with true security. In fact, a Fidelity Investments' study of millionaires last year found that 42 percent of them don't feel wealthy and they would need $7.5 million of investable assets to start feeling rich.
...
Read More Link On Right
This isn't a how-to on the accumulation of wealth from a lifetime of saving and pinching pennies. This is about generating multimillion-dollar wealth and enjoying it during the creation process. To get started, consider these seven secrets of multimillionaires.

No. 1: Decide to be a multimillionaire
You first have to decide you want to be a self-made millionaire. I went from nothing — no money, just ideas and a lot of hard work — to create a net worth that probably cannot be destroyed in my lifetime. The first step was making a decision and setting a target. Every day for years, I wrote down this statement: "I am worth over $100,000,000!"

No. 2: Get rid of poverty thinking
There's no shortage of money on planet Earth, only a shortage of people who think correctly about it. To become a millionaire from scratch, you must end the poverty thinking. I know because I had to. I was raised by a single mother who did everything possible to put three boys through school and make ends meet. Many of the lessons she taught me encouraged a sense of scarcity and fear: "Eat all your food; there are people starving," "Don't waste anything," "Money doesn't grow on trees." Real wealth and abundance aren't created from such thinking.

No. 3: Treat it like a duty
Self-made multimillionaires are motivated not just by money, but by a need for the marketplace to validate their contributions. While I have always wanted wealth, I was driven more by my need to contribute consistent with my potential. Multimillionaires don't lower their targets when things get tough. Rather, they raise expectations for themselves because they see the difference they can make with their families, company, community and charities.

No. 4: Surround yourself with multimillionaires
I have been studying wealthy people since I was 10 years old. I read their stories and see what they went through. These are my mentors and teachers who inspire me. You can't learn how to make money from someone who doesn't have much. Who says, "Money won't make you happy"? People without money. Who says, "All rich people are greedy"? People who aren't rich. Wealthy people don't talk like that. You need to know what people are doing to create wealth and follow their example: What do they read? How do they invest? What drives them? How do they stay motivated and excited?

No. 5: Work like a millionaire
Rich people treat time differently. They buy it, while poor people sell it. The wealthy know time is more valuable than money itself, so they hire people for things they're not good at or aren't a productive use of their time, such as household chores. But don't kid yourself that those who hit it big don't work hard. Financially successful people are consumed by their hunt for success and work to the point that they feel they are winning and not just working.

No. 6: Shift focus from spending to investing
The rich don't spend money; they invest. They know the U.S. tax laws favor investing over spending. You buy a house and can't write it off. The rich, in contrast, buy an apartment building that produces cash flow, appreciates and offers write-offs year after year. You buy cars for comfort and style. The rich buy cars for their company that are deductible because they are used to produce revenue.

No. 7: Create multiple flows of income
The really rich never depend on one flow of income but instead create a number of revenue streams. My first business had been generating a seven-figure income for years when I started investing cash in multifamily real estate. Once my real estate and my consulting business were churning, I went into a third business developing software to help retailers improve the customer experience.

Lastly, you may be surprised to learn that wealthy people wish you were wealthy, too. It's a mystery to them why others don't get rich. They know they aren't special and that wealth is available to anyone who wants to focus and persist. Rich people want others to be rich for two reasons: first, so you can buy their products and services, and second, because they want to hang out with other rich people. Get rich — it's American.

Thanks Dinar Recaps - Source

http://businessonmain.msn.com/browseresources/articles/startupsuccesses.aspx?cp-documentid=32486610&wt.mc_id=msneditorial#fbid=iUH-TM-lmfH

Mega Millions winner won't share with her McCoworkers

4/3/2012

Mega Millions winner won't share with her McCoworkers
16 hrs ago

A Maryland McDonald's employee who claims to have one of the winning Mega Millions tickets is now serving Quarter Pounders with a supersized side of selfish. According to the New York Post, Mirlande Wilson bought tickets as part of the restaurant's lottery pool, but claims that the winning numbers are on a ticket she purchased separately. After the numbers were announced on Friday night, Wilson called several coworkers to say "I won!" using, the Post noted, "the first person singular." (Apparently purchased at the Baltimore 7-Eleven pictured.) Needless to say her fellow Big Mac-makers aren't lovin' it ... although there's a chance Wilson doesn't even have the winner ("Some of the numbers were familiar," was all she would say) which would make for even more awkwardness in the McKitchen.

SOURCE

Going Global~~YOUR DREAM OF A LIFETIME

4/1/2012

Thanks to Lakehouse @ Going Global - Good time to repost this...Please keep in mind this does not just apply to financial planners...bankers, trusts, etc.

Friday, July 22, 2011

Your Dream of a Lifetime ...

Your dream of a lifetime .. if handled correctly, could be your children's dream and their children's dream .. right on down the line ...

Everyday another site offering investment opportunities of a lifetime are popping up. It seems that anyone these days can pass themselves off as a certified financial advisor. And .. although they may claim to have credentials, it is up to you, the investor, to ask the hard questions. Don't assume because they tell you they have a series 1,2,or 3 license, that they are qualified to invest your hard earned money. Never, ever, feel like you are the ignorant one when they start throwing around terms that you never heard before. The scammer wants you to believe that they know more than you and they want you to believe that Your money will be safe in Their hands.

Don't be too sure about that. Take a look at the following pdf file. http://www.nfa.futures.org/NFA-investor-information/publication-library/scams-and-swindles.pdf

Also, if you do sit down, or correspond over the internet, with one of these fly-by-night "investment advisors", make sure you have a pen and paper handy and ask the questions that you need answered. Believe me, you do not give yourselves enough credit when it comes to trusting your own judgment. You Should! You are in the drivers seat. Remember that. This is not a popularity contest .. this is your money and hopefully your children's money and their children's money. Take your time. Do your homework and seek the advice of a professional that is close to you. It should be someone in close proximity (town, city) where you can talk face to face. The internet may be convenient but it's a dangerous place and it's hard to track someone down if things go terribly wrong. Also, Do not rely on what others have to say as far as references. Remember, references could be part of the "financial advisor's" Team .. Bernie Madoff had a "Team" .. watch/read - Link ~ More Wealth .. Means More Responsibility .. Be Smart .. Be Cautious .. Don't Let History Repeat Itself ...

good luck ... Kel ...
Scams AND Swindles
An Educational Guide to Avoiding Investment Fraud
http://www.nfa.futures.org/NFA-investor-information/publication-library/scams-and-swindles.pdf

SOURCE

10 People Who Won the Lottery–Then Lost it All

3/31/2012

10 People Who Won the Lottery–Then Lost it All

Ever dream of winning the lottery? The golden ticket holders on this list might convince you otherwise. Most of them either regret winning the jackpot, or admit it made their lives hell. Let them show you what the lottery could make you lose.

Source

LOTTO FRENZY 20/20 MARCH 30, 2012 Does Winning Buy Happiness?

3/31/2012

LOTTO FRENZY 20/20 MARCH 30, 2012

Does winning a lottery jackpot really buy happiness?

"Be careful what you wish for"

Click to Watch Show

(I watched this show last night....Must watch show)

6 steps to handle a sudden financial windfall

3/30/2012

6 steps to handle a sudden financial windfall

Knowing what to pay off and how much to save can be harder than you think
By Tamara E. Holmes

Few people would turn down a financial windfall, whether via an inheritance, lottery winnings or an unexpected bonus. But while a cash infusion may be welcome, it can also raise questions about the most effective ways to use it, particularly if you have credit card debt to pay off and other financial goals to reach.

"When people get a windfall, usually there are multiple demands for that money," says Susan Bradley, author of "Sudden Money: Managing a Financial Windfall." While the size of the inheritance determines how many goals you can satisfy, the following steps can help you ensure that your money goes the furthest, whether you've received an additional $10,000, $50,000 or $100,000.

Step No. 1: Take a pause

An unexpected cash infusion "can feel like it's infinite and will always be there," Bradley says. In fact, many people commit to spending three or four times the amount because they think they have more money than they actually do, Bradley says. To avoid spending impulsively, take some time out before making any financial decisions. "Usually people don't see the full range of what's possible at the very beginning of a windfall event," says Bradley.

If the amount seems large to you, hire a financial planner to help you prioritize your goals and a certified public accountant to help you handle the tax implications, suggests Zaneilia A. Harris, president of Harris and Harris Wealth Management Group in Upper Marlboro, Md. Also, create a prioritized list of your financial concerns "because depending upon how much money you received, there might not be enough money to solve all your problems," Harris says.

You'll know you're ready to make financial decisions when you stop changing your mind about whether you'll invest the money, go on a cruise or start a business, Bradley says. "If you're going back and forth, it just means you're not ready yet."

Step No. 2: Emergencies first

While there are likely multiple ways you can improve your financial situation, emergency situations take precedence. For example, "if you don't have a dime in savings and you're behind on the mortgage, take care of that first," says Mike LeClear, vice president of Consumer Credit Counseling Service of Northeastern Indiana.

Lottery winner Richard Lustig poured his entire windfall into financial emergencies that had just cropped up when he won $10,000 18 years ago. The seven-time lottery winner, who wrote, "Learn How to Increase Your Chances of Winning the Lottery," had been recently saddled with a leaky roof and medical bills after his son was born. "I didn't have to think twice. All my money went to the hospital bills and the roof," he says.

Step No. 3: Cash is king

Once emergencies are handled, your strategy will differ based on the amount of the windfall. While clearing up credit card debt is definitely a smart move, "if it's going to take all of that windfall to pay it off, I wouldn't recommend that," says LeClear. You can't get out of debt if you don't save money because inevitably the car will break down or some other unexpected expense will have you reaching for the cards again, LeClear says.

Instead, take a portion of the windfall to put toward an emergency fund. While many financial experts suggest having three to six months of savings, if you've amassed a lot of credit card debt, LeClear suggests making that about one month of savings before focusing on those bills.

Step No. 4: Prioritize debt Credit card debt and other loans that are weighing you down should be your next priority. Not only should you first consider credit cards that have the highest interest rates, but you should also look to eliminate loans that have the greatest impact on your monthly cash flow, Harris says.

For example, a card with a high balance likely carries a high minimum payment. By paying that debt off, you free up the largest amount of money to go toward other financial goals.

Step No. 5: Safeguard the future

Once your emergency savings and monthly cashflow issues are addressed, it's time to look to the future. "This is when you focus on your long-term objectives," such as saving for retirement or taking care of a child's education, says Harris. This is also the time when you consider financial gifts and charitable donations. Designate an amount you can afford, and be willing to say "no" to requests that exceed what's allotted. "You create a giving plan so you can make the money go the furthest," Bradley says.

Step No. 6: Do something fun While it's important to further your financial goals, once you've addressed your top financial priorities, take a portion of the money and enjoy yourself. Doing so makes it less likely that you'll splurge impulsively or squander all of the money, LeClear says. When Lustig scored a $842,000 lottery win, he paid off all of his credit card debt and loans, invested a little -- and then bought a Harley-Davidson. "When you get that kind of money, you also have to have fun," he says.

Published: May 16, 2011

SOURCE

5 Reasons You Don't Really Want to Win all that Lottery Money

3/30/2012

5 Reasons You Don't Really Want to Win all that Lottery Money

Do you find yourself dreaming of the day your lucky lottery numbers are called? Or fantasizing about what numbers lurk under the silver bar of that scratch-off ticket you impulse-bought while gassing up?

The lure of "Mega Millions," "Powerball" and other lottery jackpots has millions in search of, well, millions. And while it's fun to daydream about what having more money than you can count would be like, winning the lottery might not be all it's cracked up to be.

[Related: World record $540 million lottery drawing]

A windfall of widely publicized winnings that finally allows you the luxury of affording a trip around the world, a fancy car or flat-screen TVs for every room in your house just might ruin your life.

Here's a look at the ugliness landing all that loot can bring to your life. And a reminder that being mega rich isn't all that it's cracked up to be.

1. Your friends will take advantage

Once word gets out that you had the winning ticket, you can expect everyone to try to cozy up to you, from the college roommate you haven't heard from in 20 years and the kid who tortured you on the kindergarten playground, to fellow carpool parents and "friends" you barely recognize. It's common for lottery winners to see a flood of online and in-person friend requests that range from wanting to share a meal to suggesting a weekend getaway to relax or catch up. Of course, these "buddies" all hope that you'll ultimately pick up the tab for their good time.

After she was one of a pool of 12 people who won the Missouri Powerball in 2006 and split $224 million, Sandra Hayes had to rethink her social network. "It became necessary to be careful about who I make friends with because some people can be cruel and have alternative motives for befriending you. Some feel that just because you have money, you owe them money," she says.

"When I would hang out with friends and we would stop to get something to eat, they would order their food and then announce they did not have the money to pay, which happened a few times," says Hayes. She quickly figured out her friends' plan and stopped going to eat with them. "I eventually stopped hanging out with them altogether."

Lottery winners get pleas from pals and hopeful BFFs in need of a personal bailout, too.

Hayes says one of her friends even expected her to rescue their family from their serious financial woes. "I did not rescue them thanks to the advice of my financial adviser, who told me if I bailed them out they would continue to sponge off me. If I did not draw the line, I would go broke," she says.

[Related: 7 Things You Could Do If You Winthe Mega Millions Jackpot]

2. Your relationship could fail

Money woes can put a strain on a relationship . But those who come into big windfalls find coming into a lot of money all at once can also overtax a relationship.

Alexey Bulankov, a certified financial planner who's worked with a family who won a lottery jackpot saw this devastation firsthand. "Following a string of unfortunate financial decisions, the family fell apart," he says. Bulankov says the husband, who was emotionally unprepared for the enormous responsibility and pressure of winning the lottery, took to gambling and womanizing to deal with the troubles adjusting to his new lifestyle. When his wife found out, she retaliated with vindictive shopping.

Eventually, they talked and sorted it out, says Bulankov. "Needless to say, the level of trust was not the same and the fighting and blame-placing for the squandering of their fortune became routine occurrence in this once tightly knit family," says Bulankov.

3. You'll have an increased risk of bankruptcy

Given the fact that you'd have enough dough to clear up your debt, bankruptcy seems a long shot after winning the lottery. But experts say lottery winners actually are at greater risk of bankruptcy.

"Winners suddenly have significantly more credit available to them than they ever had. That makes them more likely to make purchases on credit, rather than use cash," says Scott Dillon, a senior bankruptcy attorney at Tully Rinckey in Albany, N.Y. "Winners are much more likely to make significant impulse purchases far beyond their previous means. So the purchase amounts will be much higher, making the interest accrued on those credit cards much higher. And because they don't stop to think the money could run out, winners don't generally think they need to create or live by a monthly budget."

"While it may be counterintuitive, a large influx of wealth without proper planning can easily cause people to forget the need to save for the future," adds Dan White, founder and president of Daniel A. White & Associates, a financial planning firm in Glens Mills, Pa., that specializes in asset protection and transitional and retirement planning.

4. You'll have to fight off a host of long-lost family members

Jeff Motske, a financial planner and president of Trilogy Financial Services, headquartered in Huntington Beach, Calif., says lottery winners often become targets for long-lost relatives who knock on the door with one hand and hold the other palm up. Somehow they think when one family member wins the lotto, the whole family wins the lotto. "A family member who wins the lottery will appear as a better option than a bank for fast cash that comes with the price tag of little to no interest paid and no application process," says Motske.

So many winners find themselves fielding pleas for help with a pile of credit card or medical debt, foreclosure or car repairs.

"The majority of my family members treated me the same as they did before I won the lottery, however, there were those family members who suffered the entitlement syndrome," says Hayes. "A few of my family members with whom I did not have a previous relationship with before winning the lottery came out of the woodwork and started calling me to butter me up just for money."

[Related: Charitable Donations: What You Need to Know]

Hayes says she faced her share of bad experiences, including family members borrowing money that they felt they didn't have to pay back. "Some family members I gave a monetary gift for a special occasion thought I should have given more," says Hayes.

5. You'll be a target for a litany of lawsuits and scams

Hoping to carve out a chunk of your fortune, Motske says lottery winners are often targets for bogus lawsuits because everyone starts to come after them. "If the winnings are public knowledge, winners can bet their phone will never stop ringing. Winners hear from investors, reputable firms and scammers, and every planner/schemer under the sun," he says.

They also need to be wary of people who purposely "slip and fall" on their property, including claims of winners rear-ending them and so on. That includes contractors, babysitters, friends and family who visit you, borrow your car, etc.

Hayes says she endured some less-than-honest business deals. "Some people I dealt with were honest, but others were not. I experienced contractors changing their work bids to a higher price after they found out I won the lottery," she says. "Now I will only work with people who have been referred from trusted associates, friends or family."

SOURCE

Sudden Wealth-Avoiding 12 Deadly Mistakes

3/8/2012

Sudden Wealth-Avoiding 12 Deadly Mistakes

http://www.tgsfinancial.com/pdfs/Sudden_Wealth__Avoiding_the_Twelve_Deadly_Mistakes.pdf

Thanks to Dinar Recaps for this Great Post and information

The IQD Team DOES NOT endorse any legal, tax, or professional individual or group. All material is provided for information purposes only. Read, and study all material before making your decision, as well as consult any and all professionals.

Sudden Wealth Books & Resources

3/2/2012

SUDDEN WEALTH BOOKS & RESOURCES

WEALTH MANAGEMENT IN ANY MARKET

SUDDEN MONEY: MANAGING A FINANCIAL WINDFALL

Sudden Wealth: Additional Books & Resources

SUDDEN WEALTH: Additional Books & Resources

The 10 Best Places to Retire – Topretirements Editor Picks

3/2/2012

The 10 Best Places to Retire – Topretirements Editor Picks

Your Editor Picks: How We Rank the 10 Best Places to Retire – And Why
Category: Best Retirement Towns and States

February 28, 2012 — Last week we announced the list of the 100 Most Popular Retirement Towns, our annual list of the places that our visitors and members seem the most intrigued with. This week we decided to take that idea a little further by analyzing that list against 12 important retirement criteria. The result is a top 10 that looks very different, with 4 towns from the top 20 moving up to the top 10. Here are your editor’s selections for the “10 Best Places to Retire” – (the # in ( ) was its ranking on the popularity list).

The 10 Best Places to Retire – Topretirements Editor Picks

1. Sarasota, Florida (#2). Our top pick on Florida’s Gulf Coast has so many things going for it. The economics are very attractive: median home prices well below the national average, no income tax, low property taxes. Culturally it has unbelievable resources for a small city of this size, thanks to the largesse of the Ringling Brothers, who had their winter headquarters here. The downtown is exciting and so is the nearby St. Armond’s Circle shopping area across the causeway on the barrier island. Siesta Key and Longboat Key are nearby.

2. San Antonio, Texas (#16). This Texas town was actually tied on points with Sarasota. We broke the tie based on Sarasota’s higher rank with our visitors. Texas has no state income tax, although its property taxes are higher than average. The city’s River Walk section is a major tourist attraction. There are many active communities to choose from. Retired military personnel will particularly like this area since they have access to many medical and shopping resources. On the negative side San Antonio has a higher than average crime rate (albeit probably more concentrated in certain areas), and its “walkability” average not as high as some communities on this list.

3. Naples, Florida (#11 ). Along with Sarasota, Naples is a place for people who want to live in a more affluent, upscale community. There is a wealthy aura to it, with a downtown featuring high-end shops, luxury hotels, great restaurants, and a a vibrant arts scene. You can easily walk from downtown to the beach through lovely neighborhoods. Home prices are higher than the national average (at about $250,000), although they cost about half what they did 5 years ago. On the negative side of the ledger there is no college.

4. Tucson, Arizona (#17). Our highest ranking retirement town in the west, Tucson is a great college town with the University of Arizona a big presence. There is the beautiful desert for outdoor recreation and scenery, along with the warmest winters in Arizona. Housing is well below average at $131,000. There are ample and very sophisticated health care choices. Crime rates, walkability, and income taxes for seniors are worse than average.

5. Asheville, NC (#1). This town in western NC is always the overwhelming favorite retirement destination at Topretirements. There are plenty of good reasons for that, including its mild, 4 season climate, the UNC Center for Creative Retirement, interesting downtown, and large number of communities and neighborhoods to choose from. After being evaluated against all 12 of our criteria, however, it slid to #5 on our list. It’s still a great place to retire, but compared to the competition it was outranked for reasons including: NC is not as friendly a tax state for retirees, walkability, above average cost of housing, and the city’s above average crime rate.

6. Beaufort, South Carolina (#7). 304 acres of this charming town in South Carolina’s Low Country have been designated a National Historic Landmark. It has a diverse economy, low taxes, and a very strong reputation as a retirement destination. The University of SC has a branch here. Retirees looking to continue working might find it hard to get a suitable job in Beaufort. For health care you might want to go to Savannah or Charleston; housing costs slightly above average. People looking for urban excitement might find this golf and boating oriented area boring after a while.

7. St. Augustine, Florida. (#18). This historic town is one of the oldest in the new world, dating back to 1565. It has beaches, historical museums, Flagler College, proximity to Jacksonville for healthcare and culture, and inexpensive housing at a median cost of $120,000. On the other hand it is a relatively small town with few retirement job or adult education opportunities.

8. Fort Myers, Florida (#6). If you like golf, boating, and fishing Fort Myers might be for you. The area has barrier islands like Fort Myers Beach, Sanibel, and Captiva for great beaching. It also has some very inexpensive housing with a median home price of $108,000 in late 2011. There is no FL income tax; property taxes are low. There is plenty of culture with theaters downtown and the Barbara B. Mann Performing Arts Hall. Every medical specialty is well represented. Negatives include intense traffic in season, a depressed economy, suburban sprawl, and above average crime rate.

9. Venice, Florida (#4). Venice was one of the original planned retirement communities, built in 1925 by the Brotherhood of Locomotive Engineers. Walk from the charming downtown past a huge library and parks to beautiful white and uncrowded beaches. There are an extensive number of active adult communities, many of them built around golf courses. Median home price was $135,000 in late 2011. Taxes are low. Drawbacks are walkability if you don’t live downtown, and the fact that the older population might be off-putting to younger retirees. This is not a college town, unlike some others on our list.

10. Prescott, Arizona (#5). Prescott is an old western town that has managed to propel itself to being a top retirement destination. There are a couple of small colleges and adult education opportunities. Housing prices are above average. There is an interesting downtown. Negatives are the tax situation, limited health care choices and employment opportunities compared to the larger cities on this list.

Our Methodology and Criteria
To develop this “best of the best” list we considered the top 20 towns from our 100 best retirement towns list. Then we analyzed and compared those towns for 12 different retirement criteria, applying 1 point if they were above average for that characteristic, and deducting 1 point or slightly more if they were below average (for example, housing prices in San Diego and Sedona are more than twice as expensive as the national average – therefore we penalized those towns -2 points). These are the 12 criteria we used:
- Wow Factor
- College town
- Large # of active adult communities
- Adult education/Cultural opportunities
- Healthcare options
- Employment opportunities
- Income tax for retirees
- Property tax
- Climate
- Cost of housing
- Crime
-Walkability/Attractiveness of downtown

Please continue to post your Comments about where you intend to retire and why. To keep all of those in one place, please post them to our “Tell Us Where Are You Going to Retire” article.

For further reference:
We are proud to report that we collaborated with Robert Powell of WSJ Marketwatch to produce this article plus a slideshow on that site. See “Slideshow: 10 Best Places to Retire“.

SOURCE