* TS (POST RV PLANS BY HISTORIAN): OOM 1/5/12
[Comment]This is from PTR (VIA CAP1) AUTHOR HISTORIAN: THANK YOU SO MUCH FOR YOUR ADVICE. WE ALL APPRECIATE YOUR HARD WORK.
Historian Cash-In Plan OVERVIEW
This Cash-In Plan walks you through some tasks and decisions you may need to address to prepare for cash-in. It is organized in steps from now to the time you set up Advisors (attorney, accountant, etc.). After that, your Advisors will help you plan cash-in and secure your new wealth, so you only need to make the first part of the journey on your own.
Historian
Note: This Cash-In Plan assumes that the IQD rate at RV will stay the same for some time or increase, and that it will not decrease within the first 12 months (the latter would require a different plan.)
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3 BIG STEPS TO CASH-IN (that you must take on your own)
Step 1: Your Transition – Organize funds to cover 6 months of expenses and activities
Step 2: Your Wealth – Estimate your profit and wealth BEFORE you select your Advisors
Step 3: Your Advisors – Select Advisors who specialize in your wealth level and “click” with you
WHY IS THE PLAN FOR 6 MONTHS?
There are practical considerations:
You may need to set up or revise your legal and financial structure, and it may take time to find the right Advisors – you should interview several attorneys, accountants, etc. before settling on the right team. Scheduling and meeting with these people – especially if they are in demand – could take 2 weeks or could easily take 1 to 2 months. You need to plan for the longer possibility . . . so, 2 months.
Your Advisors will need to set up the right legal and financial structure for you, and define a plan for you to cash-in. Attorneys and accountants – especially very good ones – are busy, so they will need to fit your work into their regular schedule. They will need to develop the plan, do paperwork and filing. This could take just 1 week or as long as 1 month.
After that, you will need to set up bank accounts for the entities in your legal structure. The bank will need specific documents, and they may take more than 1 day to process these. Allow for 1 week.
Only after you have set up your legal and financial structure, are you ready to cash-in the bulk of your IQD (or VND). You may need to schedule cash-in appointments. Allow for 1 week.
So the time from RV to cash-in could be as little as 1 month or as much as 4 months. To make sure you are not worrying about living expenses and other financial issues, you need a plan that is comfortably longer than 4 months. That is why this Cash-In Plan is for 6 months.
(End of Part 1 of 4)
CASH-IN PLAN (Part 2 of 4)
STEP 1: YOUR TRANSITION – Organize funds to cover 6 months of expenses and activities.
In Step 1, you set up a TRANSITION BUDGET. This will cover (a) Expenses for 6 Months including the cost of your Advisors, ( Debt Repayment, and © Rewards.
WHY DO THIS:
A TRANSITION BUDGET buys time for you to calm down, adjust and THINK CLEARLY again. It also:
- buys time to get past any bait rates
- buys time to let professionals help you pay off debts, cash-in and secure your new wealth
- helps you avoid spending wildly and wasting your wealth (due to sheer excitement!)
- trains you to start thinking like the wealthy person you now are – the wealthy all have a plan that outlines what % they will spend on different living expenses, luxuries and types of investments
WHAT TO DO:
Exchange the minimum amount of IQD needed to cover all the costs in Step 1. This may be one 10K or one 25K IQD note, or more. Make sure you have enough to pay for all of the following:
Note: You may also be able to arrange a line of credit using your IQD as collateral. If so, you may not have to cash-in any IQD to cover your transition, but the rest of your Cash-In Plan will still be the same.
The * TS (POST RV PLANS BY HISTORIAN): OOM 1/5/12 by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
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