Thanks for more of your common sense wisdom..The IQD Team
SPLIT IT UP - PROTECT IT ALL!
- by Anonymous
Have you noticed how exciting the news has been lately!!! I don't know about you, but I personally feel that we are really close to the IQD's RV... I can't explain it, but it is kinda like that feeling you get sitting with your back to a fire that is going in the fireplace - you feel the heat, but you can't see it!
Well, with all this excitement, it is a bit difficult to keep our heads about us. We keep hearing that we must prepare, we must make our plans, we should get everything in order BEFORE the RV. And, I'm sure, you have a few ideas, and that is about all. I'm pretty much in the same boat as you, I have ideas of things I want to do, but I don't have an "exact" order of progression - I believe that is impossible!
However, I do believe that a reality check may be in order for both of us, just to make sure we are "planting the seeds" of correct thinking.
SPLIT IT UP!
First off, I am hearing of more and more people who are worried about FDIC Insurance or Bank Failure Rates and are asking for advice!
Let me just say this, if I were to give you a list of "good" Banks today, that does not change the fact that tomorrow they may go through an Audit and determined to be insolvent!!!
I would not spend too much time today worrying about what bank today is a "good" bank - lets worry about that AFTER THE RV and when you are wealthy!
Here are two useful links from ehow.com on determining a bank's financial health:
LINK 1:
http://www.ehow.com/how_5169725_quickly-determine-banks-financial-health.html
LINK 2:
http://www.ehow.com/how_6518411_check-financial-health-bank.html
But, really, there are NO GUARANTEES in life
You must know that Life is NOT "Fair"! Therefore, to best protect yourself and your money, split it up and deposit your money in several banks!
You can start from "day 1" when you go to exchange your IQD after the RV. Let's use some simple numbers and assumptions for this example.
Lets assume you own 1 Million IQD after the RV, and the rate comes in at exactly $4.00 to 1 IQD. Congrats, you are now worth $4Million!!!
Now, did you know that when you exchange the IQD, you don't have to do it all in one lump sum?
In fact many experts will tell you to split it up!
So, lets assume you take just 125,000 IQD ($500,000 USD) to Bank/Broker #1, and then take another 125,000 IQD to Bank/Broker #2 and do this with a total of Eight different Banks / Brokers! You have split up your deposits, making it very difficult to now lose all your money due to a Bank Failure, or a dishonest Private Banker!
If you have one favorite Currency Dealer, and are planning on using that organization, have them send out 8 separate wire transfers to each of your 8 banks.
Of course for each of the 8 banks you will need to set up your account with them using one of their Private Bankers which is assigned to you from that Bank.
Do you need to do any of this today? Heck NO!!!! In fact, I am going to wait several weeks after the RV to contact banks and Private Bankers!
THINK ABOUT THE "OTHER" BANKS...
Another thing to think about is we are all familiar with the common Four "Big" Banks, but most of us have never had to use Commercial and Business Banks. Keep your mind open about working with them too! They are used to working with large depositors!
You have to remember, the "Big 4 Banks" make their money off the "average, middle class" people who have a monthly average balance of only a few hundred dollars or a few thousand dollars in our accounts (like you and me today!)
But, Commercial and Business Banks make their money off the "rich and wealthy"! They are very familiar in dealing with "Million Dollar Clients" who are often Small Businesses that run Millions of dollars monthly through their institution.
CAUTION ABOUT PROFESSIONALS...
You and I will be "new" to this reality of being considered a "Million Dollar Client" by these Banking Professionals, Attorneys and Investment Professionals.
A few of these people will be jealous of our new wealth! Yes, some of these people will want to help us, however unfortunately some will try to betray us! That is reality and that is fact!
Beware of this now, before you go in to banks or meet with Investment Advisors. Keep your mind about you, if they start talking all kinds of fancy words that you never heard before, ask them to explain it for you!
If these Professionals are not patient enough to fully and patiently explain their programs to you, then wright down the words you don't understand, get their brochures, and leave to go do your own research!!! I would suggest you always make a point of meeting with a few more Professionals to hear their opinions and offers also before you ever make an agreement.
A FEW MORE CAUTIONS TO CONSIDER...
I will not do business with anyone over the telephone that has contacted me first! You know what I mean, the Telemarketer who calls you out of the blue, is very friendly and sounds extremely intelligent! He/She may be as honest as the day is long, but I will refuse to hear his/her offer or talk to them!
Not to be "rude' but there are just too many scam artists who use the telephone to steal money! If I do have any interest, I will tell them to send me a proposal to my email address. I will give them a free email address that I use ONLY for this purpose (I call it my "SPAM BOX") it will be a free email account with a free provider like Hotmail, Yahoo or Gmail.
If someone is pressuring you to buy some sort of investment, tell them you need to run it past your attorney first and it will take a minimum of a week before you can come to a decision. If they insist you still decide "now", leave!
Trust me, what they are offering to you is not that "urgent", and if they don't want you to take time to think about it, then it is 99% because what they are "selling" to you is a "SCAM"!!!!
Would you rather wait a week to be sure and better protect yourself from scam artists or jump on some "hot" deal that "fails" and you are now out the money or worse yet, broke!
IN CONCLUSION...
I would recommend that you NEVER tell anybody exactly how much money you really have! And just to be clear, "anybody" DOES refer to my family as well, especially my family!
No offense to my family, but only my Spouse will be privileged to know exactly how much money we are worth!!! I'm not even going to tell my children, they can find out from my Will after I'm dead! This will be really tough on most of you, it is for me too, but it is vitally important to NOT tell them!!!
So, knowing my opinion on who to tell, when working with Private Bankers, Attorneys, CPAs and other Investment Professionals, stick to only the amount of money that you have on deposit with them! Don't tell them about your other investments and don't tell them that you have seven other banks with a Quarter Million each!
If you tell them..... Do you know what will happen???
That Private Banker or Investment Professional will lose sleep at night, he/she will have nightmares thinking about how they can convince you to move your money over to their bank!
When their Supervisor tells them to "up their numbers" for the Month/Quarter/Year - who are they going to call??? YOU! So, don't tell them you have other money or investments!
I will say it again! Don't tell anybody, its none of their darn'd business to know! This will keep you and your family much safer too.
Trust, but verify!
Keep one sad reality in your mind at all times, nobody is your "friend" when it comes to large sums of money! The more a professional wants to become your "buddy" and "friend" by giving you gifts, taking you out to dinner or a vacation, that person is trying to set you up to take your money!
Almost all legal financial and investment Individuals and Institutions in the United States (and most other Modern Countries) are Regulated to a gifting limit of something around $100 USD in value per year! If that guy just "gave" you a vacation worth $5K or $10K he is breaking the law! If he is breaking the law, what are his intentions with your money???!!!
The "deal" that is just too good to be "true" is almost always a scam! The harder they push to rush your decisions, the more likely it is a SCAM, and you should walk away and don't look back!
FINAL LAST WORD!!!
If you now have (in my post RV example above) $4,000,000.00 in the "bank" you are "RICH"!!! You don't need a "get quick rich" investment scheme to make you what you already are!!! If you don't feel good about it, or understand it, then don't do it!!!
SPLIT IT UP - PROTECT IT ALL!
- by Anonymous
Have you noticed how exciting the news has been lately!!! I don't know about you, but I personally feel that we are really close to the IQD's RV... I can't explain it, but it is kinda like that feeling you get sitting with your back to a fire that is going in the fireplace - you feel the heat, but you can't see it!
Well, with all this excitement, it is a bit difficult to keep our heads about us. We keep hearing that we must prepare, we must make our plans, we should get everything in order BEFORE the RV. And, I'm sure, you have a few ideas, and that is about all. I'm pretty much in the same boat as you, I have ideas of things I want to do, but I don't have an "exact" order of progression - I believe that is impossible!
However, I do believe that a reality check may be in order for both of us, just to make sure we are "planting the seeds" of correct thinking.
SPLIT IT UP!
First off, I am hearing of more and more people who are worried about FDIC Insurance or Bank Failure Rates and are asking for advice!
Let me just say this, if I were to give you a list of "good" Banks today, that does not change the fact that tomorrow they may go through an Audit and determined to be insolvent!!!
I would not spend too much time today worrying about what bank today is a "good" bank - lets worry about that AFTER THE RV and when you are wealthy!
Here are two useful links from ehow.com on determining a bank's financial health:
LINK 1:
http://www.ehow.com/how_5169725_quickly-determine-banks-financial-health.html
LINK 2:
http://www.ehow.com/how_6518411_check-financial-health-bank.html
But, really, there are NO GUARANTEES in life
You must know that Life is NOT "Fair"! Therefore, to best protect yourself and your money, split it up and deposit your money in several banks!
You can start from "day 1" when you go to exchange your IQD after the RV. Let's use some simple numbers and assumptions for this example.
Lets assume you own 1 Million IQD after the RV, and the rate comes in at exactly $4.00 to 1 IQD. Congrats, you are now worth $4Million!!!
Now, did you know that when you exchange the IQD, you don't have to do it all in one lump sum?
In fact many experts will tell you to split it up!
So, lets assume you take just 125,000 IQD ($500,000 USD) to Bank/Broker #1, and then take another 125,000 IQD to Bank/Broker #2 and do this with a total of Eight different Banks / Brokers! You have split up your deposits, making it very difficult to now lose all your money due to a Bank Failure, or a dishonest Private Banker!
If you have one favorite Currency Dealer, and are planning on using that organization, have them send out 8 separate wire transfers to each of your 8 banks.
Of course for each of the 8 banks you will need to set up your account with them using one of their Private Bankers which is assigned to you from that Bank.
Do you need to do any of this today? Heck NO!!!! In fact, I am going to wait several weeks after the RV to contact banks and Private Bankers!
THINK ABOUT THE "OTHER" BANKS...
Another thing to think about is we are all familiar with the common Four "Big" Banks, but most of us have never had to use Commercial and Business Banks. Keep your mind open about working with them too! They are used to working with large depositors!
You have to remember, the "Big 4 Banks" make their money off the "average, middle class" people who have a monthly average balance of only a few hundred dollars or a few thousand dollars in our accounts (like you and me today!)
But, Commercial and Business Banks make their money off the "rich and wealthy"! They are very familiar in dealing with "Million Dollar Clients" who are often Small Businesses that run Millions of dollars monthly through their institution.
CAUTION ABOUT PROFESSIONALS...
You and I will be "new" to this reality of being considered a "Million Dollar Client" by these Banking Professionals, Attorneys and Investment Professionals.
A few of these people will be jealous of our new wealth! Yes, some of these people will want to help us, however unfortunately some will try to betray us! That is reality and that is fact!
Beware of this now, before you go in to banks or meet with Investment Advisors. Keep your mind about you, if they start talking all kinds of fancy words that you never heard before, ask them to explain it for you!
If these Professionals are not patient enough to fully and patiently explain their programs to you, then wright down the words you don't understand, get their brochures, and leave to go do your own research!!! I would suggest you always make a point of meeting with a few more Professionals to hear their opinions and offers also before you ever make an agreement.
A FEW MORE CAUTIONS TO CONSIDER...
I will not do business with anyone over the telephone that has contacted me first! You know what I mean, the Telemarketer who calls you out of the blue, is very friendly and sounds extremely intelligent! He/She may be as honest as the day is long, but I will refuse to hear his/her offer or talk to them!
Not to be "rude' but there are just too many scam artists who use the telephone to steal money! If I do have any interest, I will tell them to send me a proposal to my email address. I will give them a free email address that I use ONLY for this purpose (I call it my "SPAM BOX") it will be a free email account with a free provider like Hotmail, Yahoo or Gmail.
If someone is pressuring you to buy some sort of investment, tell them you need to run it past your attorney first and it will take a minimum of a week before you can come to a decision. If they insist you still decide "now", leave!
Trust me, what they are offering to you is not that "urgent", and if they don't want you to take time to think about it, then it is 99% because what they are "selling" to you is a "SCAM"!!!!
Would you rather wait a week to be sure and better protect yourself from scam artists or jump on some "hot" deal that "fails" and you are now out the money or worse yet, broke!
IN CONCLUSION...
I would recommend that you NEVER tell anybody exactly how much money you really have! And just to be clear, "anybody" DOES refer to my family as well, especially my family!
No offense to my family, but only my Spouse will be privileged to know exactly how much money we are worth!!! I'm not even going to tell my children, they can find out from my Will after I'm dead! This will be really tough on most of you, it is for me too, but it is vitally important to NOT tell them!!!
So, knowing my opinion on who to tell, when working with Private Bankers, Attorneys, CPAs and other Investment Professionals, stick to only the amount of money that you have on deposit with them! Don't tell them about your other investments and don't tell them that you have seven other banks with a Quarter Million each!
If you tell them..... Do you know what will happen???
That Private Banker or Investment Professional will lose sleep at night, he/she will have nightmares thinking about how they can convince you to move your money over to their bank!
When their Supervisor tells them to "up their numbers" for the Month/Quarter/Year - who are they going to call??? YOU! So, don't tell them you have other money or investments!
I will say it again! Don't tell anybody, its none of their darn'd business to know! This will keep you and your family much safer too.
Trust, but verify!
Keep one sad reality in your mind at all times, nobody is your "friend" when it comes to large sums of money! The more a professional wants to become your "buddy" and "friend" by giving you gifts, taking you out to dinner or a vacation, that person is trying to set you up to take your money!
Almost all legal financial and investment Individuals and Institutions in the United States (and most other Modern Countries) are Regulated to a gifting limit of something around $100 USD in value per year! If that guy just "gave" you a vacation worth $5K or $10K he is breaking the law! If he is breaking the law, what are his intentions with your money???!!!
The "deal" that is just too good to be "true" is almost always a scam! The harder they push to rush your decisions, the more likely it is a SCAM, and you should walk away and don't look back!
FINAL LAST WORD!!!
If you now have (in my post RV example above) $4,000,000.00 in the "bank" you are "RICH"!!! You don't need a "get quick rich" investment scheme to make you what you already are!!! If you don't feel good about it, or understand it, then don't do it!!!
