Once your exotic currencies turn from speculation to actual profits, regardless of if it is the Iraqi Dinar, the Vietnam Dong or any of the other currencies we discuss, you will need to do what the existing wealthy are already doing.
You will need to save your assets from unnecessary high taxes by tax planning. And you will need to figure out how you plan to grow your wealth so that you never, ever have to spend your initial profits.
This is the most difficult part, especially if you have never had to generate your entire monthly income using your initial profits.
There are some basic rules, which will protect you from losing massive sums of your cash and it is recommended that you employ a financial advisor to help you. This is not a mistake you can afford to make.
As for the tax planning, either or both of the tax courses located to the right on this blog, will help you to prepare for a higher asset level, as well as help you to use these assets to build more wealth.
Sandy Ingram, aka C, Ingraham is a registered tax professional since 1999, who is now retired and traveling the world. She has a YouTube channel where exotic currencies are discussed, including the Iraqi Dinar, the Vietnam Dong and other currencies.
In order to help viewers with particular tax situations, you can join the YouTube Member's program for a whopping $2.99 a month. This is where you can ask tax questions, get reliable answers with links to the IRS website and learn more about investing on the Iraqi ISX stock market.
The channel always has links to low cost investments which can build up over time for a sizable nesxt egg. The low-cost investments include, gold, which you can take procession of. Short-term real estate loans and stock tips based on supply and demand stocks. Join us, the group is basically lower to upper middle-income taxpayers and viewers worldwide interested in the weekly Iraqi news updates.
