What constitutes wealth in the U.S. these days? It depends on the context.
If you’re talking about wealth in relation to the minimum wage, billionaire Charles Koch assures America that the path to riches requires a mere $34,000 a year. If we’re discussing wealth in the Western, above-the-paupers sense, then even $4 million doesn’t seem to cut it.
The UBS (UBS -0.57%) Investor Watch asked 4,450 investors whether they consider themselves wealthy.According to CNBC, 60% of those worth $5 million or more said they are indeed wealthy, while only 28% of those worth between $1 million and $5 million said the same.
We were digging through some old email and just happened across this email newsletter from The Sovereign Investor which was sent to us back in January of 2012.
The story about black pearls and off-shore wealth is compelling and eye opening, and it really got us thinking about those hack gurus that are constantly pushing Dinarians for Trusts, LLCs and Off Shore Accounts/Corporations. With that in mind, read this story, especially the first half. Another thing to note about investing Off Shore – if you are trying to “hide” money from the IRS – forget it!!! They have very strict laws and cooperation from International Financial Institutions it will be nearly impossible for you to “hide” your money! Think about this, if they can find and kill Osama Bin Laden, they can find your money if they want to!!!
Hire a Tax Attorney, and let his firm find Legal ways for you to pay as little tax as you need to. Also, with Long Term Capital Gains currently being only 15% – that is a very small price to pay for our Freedom and Democratic Society.
Since there are many States that currently do not have Income Tax and Capital Gains Taxes, you may want to think about moving your “Permanent Residence” to one of those more tax friendly states if you are not already residing in one.
These are things that your LOCAL Tax Attorney should help you plan out – NOT a Hack Guru selling you crap in this Dinarian Community.
~ Mr. IQD
P.S. Legal Disclaimer – we did NOT just give you tax, legal or financial advice, we just pointed out ideas for you to consider. Always seek your own local Professional.
Traveling 6,283 Miles for Lunch
By Bob Bauman JD, Chairman, Freedom Alliance
Dear Sovereign Investor,
Few people would travel 6,283 miles for lunch, but that’s just what Cook Islands attorney and trust officer Puai, and his wife and staff manager, Tai, did recently.
We met in a private booth in the back of a restaurant in Delray Beach, Florida, along with Erika, Jeff and Josh from the Sovereign Society.
There were also a few interesting surprises.
At one point, Tai reached gingerly into her purse and extracted a jewelry case, from which emerged some of the Cook Islands’ most beautiful and valuable Continue reading →