A Financial Plan to Safeguard your Savings from the Federal Government

By Peter Paton

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Everybody should have a sound, viable and feasible Financial Plan to protect their wealth and savings from the excesses and diktats of the Federal Government. The first priority should be to hire an affordable and reputable financial planner to protect your money and investments, even better if you can find a pro bono adviser or agency where you can obtain these services free of charge, and who will render you the best advice for your assets on a voluntary basis.

A Checklist of sensible and prudent things to do to ring fence your savings and wealth would be

1. Pay off all Credit Cards and dispose of them. If you really have to keep a credit card, stay within your limits, and pay them off when due each month. Learn to survive within your Limits of Income.

2. Pay off any existing mortgage or alternatively accelerate the payments. If you have money in low interest savings or certificates of deposit, you can make your money work for you by closing them out, and applying towards paying off your existing mortgage. The Financial Planner can help with this.

3. Consider selling any stocks and shares you may have acquired, because the market is very volatile and unstable at the moment due to the Double Dip Recession. If you feel you must retain your stocks and shares, stick with high performance low risk investments and mutual bonds. Municipal bonds are no longer the good investments they once were in the past. Sound Municipalities that pay good Interest are the better bet all round.

4. Stock up on canned and frozen goods, especially when they are on bargain sale price. Most canned food has a 2/3 year shelf life.This will save your valuable monies in the long run.

5. Accumulate as much cash as you can, and keep only the necessary cash float in any large bank you may have, as they are notorious for risky and speculative investments. The small town banks are more dependable and reliable for your main deposits. Better still, get yourself a small safe and keep any surplus cash hidden in your own house for safekeeping. Just be sure to use a reputable trade firm, and have an alarm and hidden security camera installed as extra back up.

6. If you are in Employment, withdraw all your IRA’s, 401K’S and Pensions out to build up your Assets.Take Lump Sum Payments wherever you can, even if the amounts are lower than what you invested.

7. Invest in the precious metals Gold, Silver and Platinum if you can afford too, as these are impeccable assets in times of financial crisis, and will yield rich dividends in the fullness of time. Watch the Precious Metal Market daily at KITCO.COM, and click on all metal quotes to check the current market value price of your investments. The very handy site NBR.COM  also posts financial tools at the close of day for your personal use as well.

8. If you are an Employer you must ensure your workforce level is under 50 to avoid paying their Healthcare Premiums under ObamaCare, and any part timers employed work  strictly under 30 hours a week.

9. Under IRS Laws you are permitted to give money to your children. At the last assessment it was set at about $13,000 a year to, up to a total of $1Million per child. Ask your Financial Planner for up to date information on all of this, to avoid paying taxes on it.

10. Place your children in the best Private Schools you can afford, the best ones are generally religious based, like the excellent Roman Catholic models, it is one of the best starts and investments you can make in your child, as Education is of paramount importance to your child maximizing their full potential in life.

11. Shared Resources are a key way of making your money and goods go a long way, especially amongst your extended family. Remember if one of your family is struggling, then you are all struggling in mind and body, so share and spread your wealth amongst your family and you will all remain strong and fiscally solvent.

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12. Ask your Financial Planner for advice on how to make legal and wise deposits in off shore financial tax havens like Switzerland, Bahamas and the Cayman Islands to get the maximum return from your investments.

With acknowledgements to Financial Adviser Chris Simmons on Twitter at @Okie_Dokie63

Peter Paton is an International PR and Strategic Adviser

Follow Peter on Twitter @pjpaton

Posted in Financial.