Before I say anything, I just thought I’d mention that I am NOT an agent for this offshore fund.* Should you decide to particpate, it doesn’t benefit me one iota.*
Also, before posting,* I did hesitate mentioning my personal situation (36 now, retire at 45, max 52) as that would qualify in most people’s books (the people in my social circle anyhow) as ‘too good to be true’ or a scam.
Actually this fund does have recourse.* You are given a bank note or GIC from the country it’s invested in for 110% of the amount you contributed.* I signed a NDA (non-disclosure agreement), so I can’t say what country it’s in.
I should say that I am not quite in yet.* I will be once I get one last tax form I am waiting for, file my taxes, & get my refund.* So in a few short months – May or June.
Like I mention above, I partly hesitated mentioning all this as it’s extremely easy to be misunderstood & seen as someone who is just trying to hawk/spam their services.* On another blog I regularly visit I innocently mentioned my situation & asked for some simple advice – and I was consequently ripped to shreds!* So now I am even more cautious about who I talk to about this – even if it is a bunch of anonymous strangers in cyberspace..
What I would recommend is contacting the company directly.* They might be very busy this time of year.* Why?* Because there are 2 main aspects to their organzation:*
1.)* Tax compression (legal methods to save on your employment, business, dividend, capital, etc. income)* *
2.) The offshore fund
So it’s tax time -- their company has grown leaps & bounds -- and that’s why they’re busy.* Send them a note anyhow & someone will get back to you when they can.
http://www.synergygroup2000.com/index.htm
Read the ‘Sample Solutions’ section -- fantastic…
NOTE: You will see this company is in Canada.* However, they have begun marketing to Americans & have a handful of US clients at this time.* Things work well there too.* As a matter of fact, from knowing them for years I know they’ve marketed their services to pro athletes in the US.* And you know what those guys make..
I first came across this company from an ad on a futures/commodities related website in Dec 2003.* I had a few days before the annual deadline to try their tax compression for the year.* I proceeded with 5,000 dollars.* I got a refund for something like 12,000 that year.* 2004:* Went in for 10,000.* Saved about 15,500 in taxes from my employment earnings.* This year I went in for 20,000.* I should get 30,000 back in taxes this year.* I will use this refund & whatever else I can scratch together (home equity line of credit, some savings) to get in the offshore fund.* I will enter in with 60 or 70K.
As far as the tax compression, that’s what you can generally expect – about 1,500 in tax savings for every 1,000 contributed.* What about my first year? (5,000 to 12,000 in 2003?) I had some charitable donations that year that threw things ‘out of whack’ (to my favour ultimately).
From my lead, 3 personal friends & colleagues are taking advantage of the tax compression this year.* I’m sure they (like me) will continue to ‘go big’ once they in fact see that things work well.* If you have the ability & inkling to, you can reclaim back taxes for up to 3 years ago.* This is what I’m doing this year.* This company has my trust.* They’ve treated me well & they’ve earned it.* They’ve been extremely patient with my many questions.* They also know they have to earn people’s trust when it comes to dealing with their money…
I will look through my past emails from the last 3 yrs to post something with facts & figures which is both meaningful & appropriate about the offshore.* This will come in the next day or so.*
I just don’t want to go against the NDA I signed, say too much, PO the company, & be disallowed from the offshore.*
This way I wouldn’t be able to be FIRE at 45 (max 52) – I would have to work until age 65 like most.* 29 more years in the workforce does not put a smile on my face….