I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.

Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

@@mariaguerrero08Impressive can you share more info?

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Gertrude Margaret Quinto” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

I definitely share your sentiment about these firms. Finding financial advisors like ‘Carol Vivian Constable’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

Thank you for this Pointer. It was to find her handler, She seems very proficient and flexible. I booked a call session with her.

I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.

My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.

If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.

I learned about govt actions from cfp in ny by name ‘’Aileen Gertrude Tippy’’ . Ms. Aileen explained the benefits of long-term Treasuries and alternative investments, which the govt doesn't disclose.

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

Just like what Trump has said before.

@@SV-kr9fu It's almost like Trump knew what they were doing, because he's better at it... that's why he now owns half of them.

And so can you

@@Winner01562 Like most people I don't have enough money to even begin using the loopholes. And my point was WHY they wont fix the loopholes.

@@Winner01562 poor guy, believing what the rich tell you.. no matter how much people work, 99.99% of them will never come close to making enough to afford and actually benefit from those loopholes

That's true. Improperly hiding assets can lead to hefty fines and penalties. Plus, there's the risk of the hidden assets losing value.

And even if you manage to hide your money, it's not necessarily working for you. It's outside the legitimate financial system, so you might miss out on potential growth opportunities.

Exactly. A strong portfolio should be transparent and well-diversified across different asset classes. This helps weather economic storms.

The problem is that people don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could help to earn a high in these challenging conditions.

You are right, The US economy is a complex beast, and a financial advisor can help you navigate it. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

Just like what Trump has said before.

​@@SV-kr9fu and he's one of those benefactors. The 2017 tax law specifically had a carve out to allow losses in real estate investment to be harvested for 20 years, had from 5 years.

@@sonicpsycho13 : Yes, he also admitted to having taken advantage of the loopholes. And if you were in his position, you would have done the same (I would too).

@@Andres43280 : Well, he has rich donors too, just like the other guy. I am not voting for him, because I like him; I just agree with most of his policies more than the other guy's policies.

@@SV-kr9fu before ADDING to them as well as cutting taxes for 0.01%. Which is how he grew the national debt faster than any president before him. And how in 4 years he was able to add 40% to the total national debt. As for the "wouldn't you crap" no I would not rob from my country in "technically legal ways". Nor would I try to find ways out of being a man who "pays my bills" like he has done by stealing directly from thousands of workers by refusing to pay. And weaponizing courts against workers knowing they dont have the funds to fight his endless legal challenges. But it is a good strategy for him to campaign on aknowledge problem. MAKE PROBLEM WORSE then go "see see I told you there was a problem". Its like a infinitely self fulfilling prophecy they can keep tearing this country down for their personal benefit. And use the "problem they created" as a election platform.

More like Cayman San Diego

Ok and how do they pay off their loans if they buy luxury goods with it?

Become too big to fail

@@j.b.2561they don’t have to, they only have to pay the monthly interest which is why some CEOs pay themselves so little salary; it’s just enough to pay the interest on the loans and to pay very little in taxes while the rest of their income is in the form of stocks. Then they just rinse and repeat.

​​@@j.b.2561 Get a bigger loan 😂 Then repeat until you kick the bucket

We all should

If you're only feeling stupid now, great. I've being stupid for about 15 years when I found this out and continue to work.

Why do you feel stupid?

Well that's the first step to any of the other way to dodge taxes.

Your hard work will eventually paid off 😅one day

Gotta love a guy who made a ton of money off his home state of Washington and then when it came time to pay some of it back he decided to leave and show them the finger.

​@margaritoamargo6347 but he's from Florida and good on him. WA states greedy that's why retirees often leave. I'll never forget when they thought about putting a toll on I-5. It's crazy.

It's the Amazon logo, not a smile.

It's the Amazon logo, not a smile.

@@margaritoamargo6347 So are you saying that Jeff Bezos payed no taxes when he lived in Washington state? You should get in touch with the state dept of Revenue and let them know.

It's not justifiable and should be illegal. However, there's a difference between insider trading and trading with public knowledge. The problem can lie in determining what's insider knowledge and what's publicly available knowledge. In 2020, plenty of people could have acted on the assumption that pharmaceutical stocks would rise significantly once covid hit the news cycle. There are plenty of people in Congress (legislators and staff), who are our were just regular people. They have 401k's, 529's, IRA's, mutual funds, etc. We can't make simply investments or owning stocks illegal for them.

Money. And the ability to give that money to those that look away

it's not legal for politicians to do insider trading. Insider trading laws apply to everyone. Do you care to cite your reference that politicians are exempt from inside trading laws?

There are also some pretty crucial details about hobby vs. business losses that got left out too. If a business has losses too many years in a row, the IRS can rule that it's a hobby and disallow the losses. There's more rules that determine what counts and what doesn't, but it's not a free for all like they describe.

​​@@shelbygardner1193right but isnt that the reason they sell such businesses? The constant exchange means such record cannot be established. That or they simply pheonix the business

theyll just put it in an irrevocable trust

@@sirdiealot53 Assets placed in an irrevocable trust are subject to lifetime gift limits. Gifts during your lifetime reduce the amount available at death for Estate tax exemption.

If you save enough taxes during your entire 80 year life, you can make back the estate tax in as little as 10 years, if your investments are good. The hard part is actually ignorant heirs, that blow all the money on crap, instead of earning back the estate tax losses.

I don't think that matters so much. The rich are not going to carry a debt and lose money in the interest. I believe how it works is that the rich will pay off those loans almost immediately. So there's little to no interest cost and the proceeds from cashing in the investment is not taxed because it is used to pay off a debt. The video didn't make that very clear.

@@jbluther How are they getting the money to pay off their loans if all their wealth is tied up in assets? Yea the video just skimmed that part. I need more info

Yep everything is completely and totally biased and unjust. This rigged "system" is despicable and the "trickle down" mafia is out of hand with their corrupt "citizens united" buying the Supreme Court to shred the 1st and 4th Amendments and farm us all as the livestock of the one percent

@@jbluther I think most are doing the opposite as long as earning > interest - tax deduction on interest + capital gain tax, which is the case most of time. so it makes every sense to borrow against their stocks instead of selling the stocks in terms of profit, company control, and tax implication.

@@Zizzarazzo They don’t pay off the loans, period. You pay the (very low) interest on the loans which is a heck of a lot less than taxes, as well as being tax deductible. The lender gets the principal back when you die, but it’s a fraction of your wealth by then due to compounding. Say I borrow $1M on my $5M investment and live off $100k/year for ten years, tax free. When the money has run out, I owe $1M… but my portfolio is now worth $20M because it doubled every 5 years. I borrow $5M so I can spend $500k/year for 10 years, and I’m carrying a $6M note - and my portfolio is $80M. I keel over and my heirs get $74M that I was never taxed on.

They actually have that here in Australia. It doesn't help 😅

Yea fak the lower class, loop holes for everyone except the poor

Canada have it for houses

it exists, its called negative gearing in Australia lol, could be something else in other parts of the world. It's not perfect as it causes a certain type of behaviour and could blow up if uncertain times occur and the economy moves out of its normal band range but for majority of the time it helps middle class dodge a significant amount of taxes

We need lower-class tax loopholes too

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

Leicia Zavala Perkins is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

Amen!

The vast majority of Americans can file a one page "EZ" form. (edit: I was wrong)

@@THE-X-Force The EZ form was discontinued in 2018. Although the regular 1040 form became a little simpler at the same time.

@@PrometheusMMIV Thanks for correcting me. I haven't personally filed in a long lonnng time. Seems crazy they got rid of it then .. I remember the guy in charge at the time saying it was going to be reduced to the size of a postcard. They even made mock-ups. I suppose I shouldn't be surprised.

More complicated means more people leave money behind

the game was rigged from the start

​@user-cl1rq1sg8m It's not a game, it's a massacre.

That's what happens when the game is "rules for thee, written by me"

It's not corruption if the rules completely allow for it to begin with. That's why the rules (laws) need to change

@@judgetwelve I love when people complain about this, they leave out the fact that they live in a Democracy and this rule applies to everyone, even the homeless bum. And so there's nothing stopping everyone from using it, but essentially the rich behave like the students that get straight As in school and then they complain at them getting straight As, whilst they themselves are bringing in Fs or Ds for their own grades. Maybe get better financially educated and stop your whining, all this information is publicly available and there are thousands of KZfaq finance channels explaining it, but nobody wants to do jack other than complain about their piss poor understanding of "loopholes". And yeah it's a piss poor understanding of loopholes, because everything would be a loophole under their definitions use. Using your children under the EITC as a deduction to pay less taxes and get tax credits? Loophole. Using childcare and medical insurance payments to pay less taxes? Loophole. Using student loan debt and school costs to pay less taxes? Also a loophole. Every loophole they complain about the rich using, they also have access to use, this is not an exclusively "rich only" club. The only difference between the rich and the poor is that the rich have more money to work with and the poor have less money to work with and so the compounding interest rates on poor people's wealth will be smaller than those of rich people. The poor can very much do "Buy, Borrow, Die", the poor can open up LLCs and use them as ways to lower their own taxes (I'm not gonna delve deeply into this), they can move to a different state to avoid taxes, the poor can do strategic sell offs of assets at a loss to pay less taxes. BUT THIS ALL REQUIRES EFFORT FROM YOU.

it's just an all around poorly researched video. PBS Should be ashamed to be associated with this video.

Class warfare as the government gets bigger and bigger…this is just propaganda

looks horrible

a glowup from all that PBS cheddar! 😎

what do you mean, it's the same guy that appears at 1:01? I thought they had changed it, cause for real it ain't anything like the one I remembered

😂😂😂

I thought she got a new husband

Where did you get it's at 2%. Tbills average 5.5%

THIS THIS THIS. Taxing unrealized gains is totally idiotic, and this step up is the real loophole

They already did that. Anything tucked away in an irrevocable trust and kept out of the estate doesn't get a step up in basis. Anything that gets a step up in basis is counted against your estate tax exemption or hit with an estate tax if the estate is big enough.

Definitely need to tackle the no limits "trickle down" mafia aristocracy that shouldn't exist

@@ryann8348 You're absolutely not seeing the bigger picture. If you have 200K in stocks it might feel unfair to pay anything out of it, but this goes beyond just YOU! You are may feel that you "worked hard" to "earn" the ability to invest, but you fail to recognize how much you have been given as a matter of course. It is only the extreme outlier who have 40K in investments or more and were not given opportunity and resources beyond the wildest dreams of any real worker.

Relative. Neither of them makes much sense.

50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

Her name is “TERRI ANNETTE MOORE” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

They might carry the loans indefinitely if the interest is say 2% and their portfolio grows by 6%. Also some of their investments might pay out dividends that they could use to pay down the loans. There are also situations that sometime arise with publicly traded companies that can result in a forced "sale" of their shares (often merger related) and associated taxes despite their best efforts not to voluntarily have a realization event - hopefully only a small portion of a portfolio is affected by this.

@@mikebarnes2294Thanks.

@@mikebarnes2294so they have to sell some stock to pay the loans?

@@Life_42 Why is that? I'm curious the advantages of Miami and/or Florida?

Tennessee is better but your choice.

Not unless you want to ensure your house or not die from a hurricane

or Texas or Nevada. Probably worthwhile to note that because a state doesn't tax income or capital gains does not automatically make them a no-tax state; whatever is taxed will be taxed greatly or government services and support will reflect the lack of revenue. Property and sales taxes get used to make up the differences, typically. Florida gets an extra whammy with hurricanes, so now one cannot afford to insure real property and dwellings in an otherwise strong real estate market.

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.

Great gains! Can you share your advisor details? I'm gaining more cash flow from my job and want to invest in stocks and alternative assets to build wealth.

Great gains! Can you share your CFP details? I'm gaining more cash flow from my job and want to invest in stocks and alternative assets to build wealth.

'Amber Dawn Brummit' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.

Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?

As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken

Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.

Getting rid of the basis step-up probably wouldn't be constitutional in the US anyway. And any party supporting it would pretty much instantly hemorrhage voters in retiree states like Arizona or Florida. Old folks are not going to vote for someone who wants to get in the way of them leaving their assets to their kids. Young people may support that stuff (while they are young) but old people definitely do not. So you can pretty much write this one off as a policy wonk's pipe dream.

Isn't it something like 50% of the capital gain? I just saw something from The Plain Bagel that it may go higher. My dad is 92 has a condo and cottage both of which have gone way up in value thanks to NS real estate so not sure how things will work out tax wise.

This video is a little bit misleading, because they don't touch on estate taxes, which are similar to what you described. The heirs don't pay tax, but the estate certainly does.

@@shelbygardner1193 I did check that Plain Bagel vid. The tax would be now around 66% of the gain taxed at the estates rate but IDK. Sounds like there’s also an exclusion amount. Hoping when things do happen we can keep the cottage in the family.

I don't know what the exclusion amount is in Canada, but there's generally at least something. The US federal exclusion is pretty high, but a lot of the states' are smaller.

It would be closer to balanced though. That represents about 10% of the current deficit.

Depends what you use the loan for but usually there is a mix of loans, elon did it to buy twitter, he expects twitter to make money and essentially pay back the loan through twitters (X's) business revenue. What this means is he keeps his tesla shares, his new business (X) pays back that debt for him and at the same time it grows in value, so debts are paid off through reinvesting into higher earning assets. Most of these guys know how much of the loan to use for endulgence and how much to use for business. Also, in all honesty when you have 10's of millions of dollars through successful business earnings, you aren't dumb enough to blow it on a private yacht that costs 10's of millions of dollars. You usually get a house worth a million, maybe a car and a few of lifes luxuries. Then you would take some cash out against your shares at a low rate of 3% - 6% depending on your relationship with the bank and invest the rest in high yeilding funds which returns more than that. Your income from the investments can then pay for the 1-3 million you borrowed for consumtive uses like your car and house. So say you borrowed at 6% against your shares for 3 million for your house, then borrowed another 6% interest and take out 7 million to reinvest it in something that returns 12%, could be a new business, could be into the financial markets, then those assets grow and part of those returns goes back to pay back your debts. You use leverage to get richer without having to pay taxes at all. Then you rinse and repeat.

The loan is usually taken out at a cheaper interest rate than the inflation rate. Meaning the companys' free growth pays on the debt.

I was wondering the same thing.

@@jaywyse7150I don’t understand. Can you explain it differently please?

@@VideoSiteAccess The investor is a great credit risk, always pays the bill on time and gets best interest rate (the lender may do other, more profitable business with the investor for other reasons, too), say 2%. The investment that secures the loan is making 8%. After the loan interest the investor is still making a return of 6% and the lender, getting their interest payment as contracted, have no reason to call the loan for final payment - it's a perpetual source of secure income. One borrows incrementally against the collateral, say 5% or so every year.

Yeah especially since there is only a $3000/year carry over limit. The rich aren't benefitting that much from that

I pay like 30% in taxes and I don’t make much money at all. What are you talking about?

Everyone can afford a CPA. I have used one for my business as I grew from 40 to 80 k gross. Don't eat out for a few meals.

@mgunt I paid 1k last year to my CPA and I am not rich. I could afford that even when I was making less. Do you make less than like 30-35k a year? I mean at that point you're not really paying a ton of taxes anyway.

@@jrg305 i’m not complaining about my taxes. I’m just saying that regulators are always a step back, while the rich are a step ahead.

Guys stop defending the rich. You will not inherit their fortune by posting comments for them on social media.

You can too if you hire a good accountant. The US tax code is the US tax code. You can use the same deductions as the rich do.

Previous generations used to be parents by 18. Politicians now say 18 isn't old enough to decide to take a loan

just b aware that the otherwise illegal and usurios interest scheme and mis managment by student loan conglomerates is the only guarantee u get that your loan cant b paid off. even people putting in 20yrs of public service did not get loans paid. nterest scheme

They should be able to hide they’re money and so should you , no one should have to pay banker there’s income it’s not the American people fault that the government borrowed money from devil worships that’s on you I’m not paying for wars and sex trafficking I refuse just say have blessed day

well if the next of kin inherits the investments at 0 increased valuation as mentioned, they can sell part of them to repay the loans without having to pay any taxes since it was considered to have 0 appreciation in value once it went to the new owner.

Yeah they sell the stepped up assets

Also, loans, etc., that would get settled in estate gains figures are usually taken out by a shell corp, not the person themselves.

We would use life insurance to cover the loans when we die

Thanks for this thread.

I see leftists on campus all the time. The two presenters have the same smugness as those on campus.

Well stated.

Skinny long hair makes him look skinny skinny. Long hair long face long torso. No balance for the camera.

​@@yorbalindasonscreams hippie 😂

😂

@mguntbecause they own assets that earn money.

@mgunt Because rich people are criminals. You rob a bank? You're a criminal! A bank robs the government and the economy? Perfectly "legal" apparently. "Stealing" food from a convenience store is a "crime" but stealing millions and billions from people's paychecks and the US economy? Acceptable apparently 🤷🏾‍♀🤷🏾‍♀😒😒

@mgunt What's in the self interest of the average to below average masses out there? To find someone else to disproportionately pay for it?

​@mguntAlistair meant that regardless of how their income comes about, it isn't actually earned. No person's labor is worth billions, billionaires existing is in itself absurd.

You are not understanding what "earned" means in this context.

Refinance. I.e. borrow a bigger loan to pay off the old one.

The investment could pay out dividends which could be used to make payments. Also I've heard its worth it to carry these loans since their interest rates are lower than the long-term expected return on a diversified portfolio.

@@fishroy1997 doesn’t sound sustainable unless you own large assets right?

@@mikebarnes2294 “carry” meaning to have the loan vs an investment account?

@@mikebarnes2294Thanks for your reply.

That’s what I’m trying to understand.

Ya gotta pay taxes when you pull that money at 76 😅

@@BrooklynBaby-1that is normal iras not Roth. Roth is pre tax so no tax in future.

@@richardmenz3257 Still get taxed before contributing. You either get taxed in the front or taxed in the back 🍑 🍆

@@BrooklynBaby-1 yeah but looking at the rate now taxes prob be higher later so locking in lower now is nice. But if gotcha. I mainly use Roth as a 2nd emergency fund. I have 28k in it that I can withdraw without penalties which you cannot do with normal IRA.

@@BrooklynBaby-1The growth/gains is Tax Free in a Roth IRA & Roth 401K. In a Traditional IRA & Pre Tax 401K you pay taxes on the growth/gains.

Ditto. Trying to get an answer myself.

I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.

I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.

I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.

I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.

I feel this is quite an easy one. You already have her name which makes it easy for you. Just look up her name online. I’m sure you will come across her. That’s how I found her too.

It already does that since stepped-up basis was designed to avoid double taxation with estate taxes. If you pass down more than $14.61M, you pay a 40% estate tax on anything above that ($13.61M exemption + $1M max tax bracket). That 40% is taxes on your whole estate, not just gains. That's why billionaires create dynasty trusts and other corporate entities, which don't benefit from stepped-up basis, but do avoid estate taxes since a 20% capital gains tax beats a 40% estate tax.

The Step-up is basis is also administratively useful as it avoids needing to sort through a decedents records to determine what was paid for an investment purchased decades ago. (Imagine trying to do this back in the age of mostly paper records before computers became commonplace.) That said with better stock basis tracking and overall better information gathering I could see a strong case made for eliminating the step-up in basis (or limiting it to situations where estate tax is actually paid on the property being bequeathed)

Some congressmen are super rich, others are just upper middle class. And congressmen pay taxes just like the rest of us.

Depending on the opportunity in question there could be a mix of many of those things. For example "Buy, Borrow and Die" only works well at a large scale as you need to be able to borrow money secured by a LARGE investment portfolio at very low interest rates (say something less than 3%) in order to have your portfolio continue to grow on average by more than the loan rate. Average people generally cannot borrow at such low rates. If you look at the publicly available margin account rates posted online by major brokers on smaller loan amounts these rates can be over 13% on a margin loan of less than $25K - this is over twice the expected 6% long-term average return you can expect on a diversified portfolio over the long run. If you want to save additional money for your retirement (or work somewhere that does not offer a 401(k) or similar type of plan) you can put money into in an Individual Retirement Account. This can be a great way to either defer or avoid taxes on investment growth that will support you in your retirement. One problem with this is YOU need to take the initiative to set this up and fund it appropriately. Some people (generally once this account has grown a decent amount) move this money to specialized custodians that enable investment in things beyond stocks, bonds and other publicly traded paper investments. However most people don't know you can do this and these custodians have significantly higher fees than the mainstream ones most of us are familiar with. This can be really good depending on the types of opportunities you might have access to that would benefit from your accumulated retirement funds. Depending on the type of health insurance your employer offers (and that you select during open enrollment) you might be able to put money into a Health Savings Account. A LOT of people either confuse this with the more restrictive "Flexible" Spending Account or don't understand the long-term value of this account and either don't use it or only put enough in to cover expected out-of-pocket costs. If you have a qualifying high-deductible health plan it is best to contribute the maximum allowed to this account (ideally more than your expected expenses) and once you have built up a balance over a few years begin investing these funds for long-term growth. This is a great way to supplement your retirement savings as a large part of expected retirement expenses are medical in nature. At the barest minimum you can reimburse yourself (tax-free) your Medicare part B premium. Once you have utilized employer sponsored retirement accounts, IRA's and (if eligible) HSA's you may need to invest additional money using a taxable account. In this account any interest and dividends earned are taxable as earned and if you realize capital gains from selling investments those are taxable as well - though as mentioned these gains can be offset by also selling investments that have gone down in value as well. Key to this is you have to know about it and be cognizant enough to check your account right after a large market drop to see if your taxable account has any losses to harvest. Above all these ideas all require that you earn more money than you need to live on and are able to put some of the additional funds towards investments that will grow in value long-term. If you live "paycheck-to-paycheck" none of these ideas will be that helpful for you. Upfront costs, time and learning can all be a part of why some people are able to make tax reduction opportunities work for them and others cannot. By the way the foreign accounts mentioned are not very useful for most Americans as the income they earned is legally just as taxable as that earned by an American based account. These also have to be disclosed on both your annual tax return and a separate filing known as a FinCen Form 114. These generally only make sense if you are actually living in another country where it makes sense to have a local bank account to manage your money and easily pay your local expenses. In some countries there can be an "asset protection" benefit to having money there, but that generally requires a trust and not just a personal account.

@@mikebarnes2294 Thank you for taking the time and effort to type all of this out for me. I really appreciate it.

Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

Thanks to my co-worker (Alex) who suggested Ms Christy Fiore.

She's a licensed broker here in the states🇺🇸 and finance advisor.

After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

I've always wanted to be involved for a long time but the volatility in the price has been very confusing to me. Although I have watched a lot of KZfaq videos about it but I still find it hard to understand

He's doing his part for the Village People.🤑

I will tell you as a gay he looks worse with the long hair. I live in Austin and when guys look like that, which many do right now, I am turned off. Men have never looked good with long hair.