The Nestmann Group

04/25/2019

Is Cash Winning the War on ?

Let’s face it, many forces are pushing for the abolition of – or at least serious restrictions on – cash.

Many businesses hate cash, because cash transactions take longer to process, and large quantities of cash pose a security risk. If you travel by air, you’ve experienced this first-hand. “Cashless cabins” are the rule for most airlines. You must purchase every glass of wine, cheese dip, or package of mixed nuts with a credit or debit .

https://www.nestmann.com/is-cash-winning-the-war-on-cash

Second Citizenship & Residence, Wealth Preservation & International Tax Planning. Protect your wealth for the future.

02/12/2019

Are We Nearing Peak Gold?

It was July 2008, and I waited in line in the blistering Phoenix summer heat to fill up my Honda Accord at the gas station. For the first time ever, it cost more than $60 to fill up my 15-gallon tank.

At the time, the steady rise in the price of oil to $145/barrel was widely attributed to “peak oil” – the point at which global oil production peaks and thereafter can only go down. The peak oil theory originated in the work of geologist M. King Hubbert, who in 1938 predicted US oil production would peak in 1969 and that global reserves would peak in 2010.

... low gold prices have forced gold mining companies to slash their exploration budgets.

02/12/2019

Warning: Your Identity Will Be Stolen

The state of online security is so dismal that it’s not a matter of if your identity will be stolen. The only uncertainty is when it will happen – and how often.

Welcome to what I call Hacker World, where malicious web-savvy thieves can steal virtually any asset, file false tax refund claims, and even steal your Social Security benefits.

About 8.6 million encrypted payment card numbers and expiration dates were also exposed.

11/27/2018

Tax Reform, Amazon, and You

Until a few weeks ago, I had never heard of Long Island City. It’s in the westernmost portion of Queens, one of New York City’s five boroughs. And it’s in this fast-gentrifying enclave that has decided to plunk down a new headquarters and create up to 25,000 new .

It turns out that Amazon is investing in a “Qualified Opportunity Zone” (QOZ), a census tract with a poverty rate of 20% or higher or a median income.

11/06/2018

It’s Time to Say to Google

A few months ago, the Verge leaked a training video from . The video, obviously not intended for public distribution, described the data produced by a girl on her cell phone – all snatched up by Google without her awareness.

That data, according to the , “describes our actions, decisions, preferences, movement, and relationships.” Google uses the analogy of a ledger, with the data siphoned off the web by the giant being “a constantly evolving representation of who we are.”

Google uses the analogy of a ledger, with the data siphoned off the web by the internet giant being “a constantly evolving representation of who we a

10/16/2018

How to Make Your PC Virtually -Proof

One of the key points of asset protection planning is to have multiple lines of defense in place.

For instance, when our team reviews ways to protect a client’s and securities accounts, we may suggest conveying ownership of the accounts from the client’s name to an . The LLC, in turn, could be owned by an irrevocable trust created with provisions that allow the client to gain access to the as long as no is taking place or threatened.

This prevents hackers from taking advantage of vulnerabilities discovered in unpatched versions of both hardware and software.

10/16/2018

Do We Really Want Bulletproof ?

We’ve all experienced the realization that the security proceedings we’re humiliated by at the airport are useless.

“Security theater” is a term I’ve heard to describe it, and I think that’s a fitting description.

My own breaking point occurred about 15 years ago, when I witnessed an elderly woman in a wheelchair subjected to a pat-down by a female Security Administration (TSA) screener who could have played tackle for the Arizona Cardinals. The screener removed a hairpin from the woman’s hair and screamed at her for carrying a dangerous .

What strategies would be effective to avoid terrorist-related incidents on airplanes? One clue is to examine the track record of countries that...

10/02/2018

Put a Freeze on Your Files

Identity is likely as old as humanity itself, but the first historical mention of it is recorded in the biblical book of Genesis, chapter 27.

Esau and Jacob were the twin sons of Isaac and Rebekah. Esau was Isaac’s favorite; Rebekah favored Jacob. As Isaac lay dying, he asked Esau to prepare him a meal, after which he would give his favorite son a blessing. The blessing would pave the way for Esau to receive his inheritance. Esau went off to hunt wild game, his dying father’s favorite food. While Esau was gone, Jacob’s mother helped Jacob convince Isaac he was actually Esau. And Jacob, not Esau, got the inheritance.

https://www.nestmann.com/put-a-security-freeze-on-your-credit-files

09/04/2018

Why You Need a Second Residency (and How to Get One)

In my consulting practice, clients often ask me the best ways to “internationalize” themselves. My top recommendation for most of them is to first move some of their outside the country they live in (this is the US in most cases).

My second recommendation, though, surprises some clients. I usually recommend acquiring legal in another . This strategy provides numerous benefits and can be surprisingly inexpensive.

The ability to live abroad if social, political, or economic conditions in your own country become intolerable.

08/31/2018

In Praise of

I’m known as someone who erects barriers to help clients protect their from litigation. And there’s plenty of that in the US. One of my “favorites” was a lady who walked into a bucket ladder when she was texting on her cell phone and received a whopping $161,000 jury award.

But not all are frivolous. A heartbreaking example is Bimla Nayyar, who was admitted to a hospital in Michigan to repair a dislocated jaw. Instead, due to a mix-up, performed brain surgery on her by mistake. She died two months later.

https://www.nestmann.com/in-praise-of-lawsuits