assets

Cash, Assets, and the Time Value of Money

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Building wealth is a lifelong pursuit. Creating a nest egg is essential for retirement, yet many of us are failing to do what it takes to retire comfortably and on time. Maybe that’s because so few of us really understand the important financial concepts that govern our personal financial strategies — or that should govern them, anyway.

Those key concepts include the ones discussed below: cash, assets, and the time value of money. What is the time value of money, and how does it relate to cash and assets? When is it better to have an asset, and when is it better to have cash? Here’s what you need to know. Continue reading →

Advice To Bitcoiners Who Are Finding Themselves Rich

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moneyPaul Rosenberg – A lot of Bitcoiners are waking up to find themselves rich these days, and I suspect that most of them have little experience handling significant amounts of money. And so, having been around the block a few times, I think I should pass along some lessons.

  1. Shut your mouth. Seriously. Tell your spouse, of course, and if there’s someone else you trust deeply, but after that shut up. If asked (your friends must know that you have Bitcoin) be vague. And do not be the schmuck who buys the Lamborghini. Repeat these words: Low Profile.
  2. Go ahead and buy a house. You’ll always need somewhere to live, so go ahead and buy a home. But notice that I said a house, not mansion. (Again, Low Profile.) Buy a nice, comfortable place where you can live pleasantly. Make sure you’ll have good neighbors. Think about maintenance. Think long term.
  3. Buy assets. An asset is something that brings money in. A boat, for example, is an not an asset, it’s an expense. A functioning business is an asset. Buy assets. Continue reading →

Senate Bill: Travelers Must Register Cash And Digital Amounts Over $10K

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assetsClaire Bernish – A new bill seeks to track your money and assets incessantly, will enjoin any business with government ties to act as a de facto arm of DHS, and would steal all of your assets — including Bitcoin and other cryptocurrencies — should you fail to report funds when traveling with over $10,000.

Under the guise of combating money laundering, Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” ramps up regulation of digital currency and imposes other autocratic financial controls in an attempt to ensure none of your assets can escape one of the State’s most nefarious, despised powers: civil asset forfeiture.

All of this under the farcically broad umbrella of fighting terrorism.

Civil forfeiture grants the government robbery writ large: your cash, property, and assets can be stolen completely sans due process, your guilt — frequently pertaining to drug ‘crimes’ — matters not.

A court verdict of not guilty doesn’t even guarantee the return of State-thefted property.

In fact, the government can seize virtually whatever it wants if it so much as suspects some of your assets might have been acquired through or used in the commission of even lesser crimes.

For some time, a war on cash has been brewing behind the closed doors of government, and — although officials prefer to claim counterfeiting, terrorism, and money laundering as the impetus for asset tracking — in actuality, physical currency facilitates black market and untaxed transactions, and, most imperatively to the U.S., cannot be thefted under civil asset forfeiture laws as easily as money exchanged digitally.

Continue reading →