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Mastering Private Banking & Social Security Trusts with Don Kilam
Manage episode 426094168 series 3519799
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What if you could unlock the secrets of financial freedom and private investing? Join me, Don Kilam, on an enlightening journey as we explore the nuanced differences between the public and private sectors, uncovering the key role of acting as your own private banker. We'll dissect the distinctions between public and private banks and examine how generally accepted accounting principles (GAAP) shape auditing and investment decisions. Plus, we'll tackle the implications of canceled debts and charge-offs for income tax purposes, guided by IRS publication 4681 and topic 431.
Ever wondered how the Social Security Trust Fund truly operates? Let’s break down the components, funding mechanisms, and intricate management by the U.S. Treasury. Discover how payroll taxes contribute to the Old Age and Survivor Insurance and Disability Insurance Trust Funds, and how these funds are invested in special issue securities. We'll also shine a light on the relationship between the trust fund and the general fund, discussing the potential impact on national debt when presidents borrow from Social Security. Additionally, we’ll explore the world of debt securities, including sovereign debt, corporate bonds, and municipal bonds, illustrating their significance in public infrastructure and services.
Ready to demystify securitization and navigate private investments like a pro? We’ll unpack the concept of student loan asset-backed securities, guiding you through the transformation of pools of assets into interest-bearing securities. We’ll clarify the differences between government-guaranteed and private student loans, the role of issuers, and the importance of understanding commercial paper, shares, stocks, and SEC forms. By mastering these concepts, you can confidently maneuver through the complex world of private investing. Finally, embrace your inherent right to prosperity with actionable steps and resources, and don't forget to check out my bestselling book, "Financial Freedom," for even deeper insights.
https://www.amazon.com/Cant-Touch-This-Diplomatic-Immunity/dp/B09X1FXMNQ
https://www.amazon.com/Million-Dollars-Worth-Game-Kilam/dp/B09HQZNRB9
Capitole
1. Mastering Private Banking & Social Security Trusts with Don Kilam (00:00:00)
2. Financial Freedom and Private Investing (00:01:45)
3. Understanding Social Security Trust Funds (00:16:00)
4. Understanding Securitization and Private Investing (00:32:49)
5. Manifesting Financial Prosperity (00:40:52)
41 episoade
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