Tradeqwik Talks Wealth Management, Recommends Resources
We at Tradeqwik hope that each and every one of you succeeds in your cryptocurrency strategies beyond your wildest expectations. Beyond providing a great trading platform, we try to help a little with your endeavors by upvoting your blog posts if you are our customer. If you hold TQS, we share the profits from the trading fees with you. If you own Crowns, Treasury Rights, or VIP, you get a stake in future VIVA among other things. As more components of both Tradeqwik and the VIVAconomy itself come online, the opportunities to earn and grow more cryptos will only increase.
All this is to say that for many of you early adopters, the possibility of one day finding yourselves sitting on some significant wealth is very real (though not guaranteed). Today's article will provide some resources to help you best manage your wealth.
Depending on where you live, your cryptowealth gets really interesting to your government when you decide to take some profits in fiat money, or even sooner than that. There are taxes to pay and other ramifications. Everyone has to make their own decisions with the help of a competent financial planner and/or tax advisor. We recommend several books that can help get you started on thinking through the issues. If you own a business or would like to start one, these same books will give you insight into how cryptocurrencies and blockchain technology can fit in.
The author of this book was a CPA minding his own business when one of his clients mentioned they'd like to invest $800 in a computer to mine Bitcoin and asked him what he thought. Having never heard of Bitcoin he told them he'd need to get back to them. This book is the result of where his initial research to answer his client's question took him. Phillips is one of the few CPAs who has expertise on Bitcoin and bloc chain technology and his book can help you understand it in terms of current business and tax climate in the US.
The Blockchain: A Guide for Legal and Business Professionals by Shawn Amuial, Josias N. Dewey, and Jeff Seul
This one is written by lawyers, so it should help answer your legal questions. It may also be the book to share with your local lawmakers as politicians the world over are grappling with how to view and regulate the emerging blockchain technology.
Asset Protection in Financially Unsafe Times by Arnold S. Goldstein and W. Ryan Fowler
When you have significant wealth, it's worth protecting, and it turns out that there are ways to structure your assets which can legally reduce your tax burden as well as protect you from lawsuits. There are also countries that excel in different aspects of asset protection. You can read all about it in this book by people who specialize in helping their clients protect their wealth and privacy so they can enjoy it and leave a legacy to their heirs.
One of the authors, Ryan Fowler, is offering a 10% discount on his services to anyone who mentions Tradeqwik when they contact him.
As you are well aware, cryptocurrencies are high risk where you could easily lose your entire investment in a bad trade or a scam. We're all here because we have determined the risk to be worth it, but at some point you may want to move some of your wealth into a vehicle where it can grow steadily and you'll know it will be there when you really need it, like to retire or send your kid to college or just pay the bills.
Enter the sa770 account, an instrument that you fund for 5 to 7 years and which then continues to grow tax free until you choose to withdraw the funds. A specific type of whole life insurance policy, it is structured to maximize the life benefit rather than the death benefit. It is one of the oldest types of wealth growing vehicles with some providers having been in business since the 1800s, and yes, their policies made money even during the Great Depression. These policies are so attractive that big banks like Bank of America and Wells Fargo and other major corporations have invested billions of dollars into them, yet few people know about them.
In the mean time, you can continue making your trades on Tradeqwik. Stay tuned to the @tradeqwik station for all your Tradeqwik news. Here is how we're doing on our trading fees and funds this week.
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