Common Rules of Financial Literacy
Recently, all the social media networks had a great buzz about the 266 million dollar mega million dollar lotteries. There were many different responses my dear friend solicited from Facebook and this centred around, giving to charity, giving to family, investing for the future, disconnecting phones and hiding from friends and family. For me, this is what I would do.
For the lump sum of $165.2 million, I will take it. I will see to it that the lottery offers either payments or cash up front. I have been hearing and reading about news flashes that $266 million over 25 yrs is worth much less than $165.2 million now. What does it say? A bird in the hand. If I can handle this money properly, I will be providing for my grandchildren’s grandchildren.
First rule – I will protect my fortune from taxes and lawsuits
I will own nothing but control everything is what I will put myself into, an enviable position. I think this is important for me. If people will see that I don’t own the money, then they cannot sue me for it. I’m not very particular of owning houses, cars and businesses in my name. I don’t have to worry because I still call all the shots but my assets will be owned by entities and not me.
Second rule- It will only take me a minute to learn the rules of investing.
I think that it is hot garbage learning about what is taught as financial literacy today by investment firms. If you want to go broke quickly, then expose yourself to the stock market. I stick to the knowledge that, A proper investment is one where you can not lose money, returns are guaranteed, there are no penalties for using your own money before 65, there is liquidity and control, it is lawsuit protected, you can leverage it to create more wealth, tax deferred, tax free on distribution, and transfers to heirs tax free upon your death.
Third rule – I want to believe that sometimes, the best way to keep something is to give it away.
The tax laws mean well for wealthy givers. Regularly, I will take a moment to sit down with an estate planner and a tax planner (not a tax preparer). I will oblige them to create a structure for me allowing me to give money away to some charitable organizations and still get some incredible benefits from my money.
Fourth rule- I affirm that love is unconditional, but giving away money isn’t. If I am going to give money to my family, I will it make sure that it is paid back.
To make sure that my money is to be paid back, I will obtain an insurance policy on the life of the family member I lend money to. I will try to remember this money isn’t my money it’s my grand kid’s grand kids money so it’s got to grow and be there. Each one of us is going to die anyway, so why not have a million dollar policy on all family members to fund the family trust. We all have to go sometime one after the other and besides, the proceeds are completely tax free and sure to pay off. Providing that much-needed policy for each member of the family allows you to take a smaller amount of money and turn it into a huge payoff in the future. The interest that the money generates goes into the family trust that can provide trust fund payments to heirs for generations to come.
Spectrum Enterprises, LLC was created by investors for investors. We recognize the importance of maximizing cash flow and profitability in your real estate endeavors. Spectrum specializes in a myriad of services, which consists of investments, consulting, sales and property management. www.spectrum-ent.net
For the lump sum of $165.2 million, I will take it. I will see to it that the lottery offers either payments or cash up front. I have been hearing and reading about news flashes that $266 million over 25 yrs is worth much less than $165.2 million now. What does it say? A bird in the hand. If I can handle this money properly, I will be providing for my grandchildren’s grandchildren.
First rule – I will protect my fortune from taxes and lawsuits
I will own nothing but control everything is what I will put myself into, an enviable position. I think this is important for me. If people will see that I don’t own the money, then they cannot sue me for it. I’m not very particular of owning houses, cars and businesses in my name. I don’t have to worry because I still call all the shots but my assets will be owned by entities and not me.
Second rule- It will only take me a minute to learn the rules of investing.
I think that it is hot garbage learning about what is taught as financial literacy today by investment firms. If you want to go broke quickly, then expose yourself to the stock market. I stick to the knowledge that, A proper investment is one where you can not lose money, returns are guaranteed, there are no penalties for using your own money before 65, there is liquidity and control, it is lawsuit protected, you can leverage it to create more wealth, tax deferred, tax free on distribution, and transfers to heirs tax free upon your death.
Third rule – I want to believe that sometimes, the best way to keep something is to give it away.
The tax laws mean well for wealthy givers. Regularly, I will take a moment to sit down with an estate planner and a tax planner (not a tax preparer). I will oblige them to create a structure for me allowing me to give money away to some charitable organizations and still get some incredible benefits from my money.
Fourth rule- I affirm that love is unconditional, but giving away money isn’t. If I am going to give money to my family, I will it make sure that it is paid back.
To make sure that my money is to be paid back, I will obtain an insurance policy on the life of the family member I lend money to. I will try to remember this money isn’t my money it’s my grand kid’s grand kids money so it’s got to grow and be there. Each one of us is going to die anyway, so why not have a million dollar policy on all family members to fund the family trust. We all have to go sometime one after the other and besides, the proceeds are completely tax free and sure to pay off. Providing that much-needed policy for each member of the family allows you to take a smaller amount of money and turn it into a huge payoff in the future. The interest that the money generates goes into the family trust that can provide trust fund payments to heirs for generations to come.
Spectrum Enterprises, LLC was created by investors for investors. We recognize the importance of maximizing cash flow and profitability in your real estate endeavors. Spectrum specializes in a myriad of services, which consists of investments, consulting, sales and property management. www.spectrum-ent.net
