I will have 3 bank accounts. The first one will be my personal account. This money will range from $25,000 – $250,000. This is because FDIC insurance is only up to $250,000. If I had $300,000, and the bank goes bankrupt, I will lose $50,000. The second bank account will be a business account. Just like the personal account, once the account drops below $25,000 – it will be funded up to $250,000. The third account will be my Swiss account. All of my money will deposit into this account. The reason for this is to protect my money. I have no intention in hiding money from the government, and a simple business audit will show everything. Since there are multiple sources of income coming into the Swiss bank account, I will have to learn how to use Apple Numbers.
I will also have checking accounts for particular people. These are people that are close to me, and I value them. Not everyone I know qualifies for this, but let’s assume that there are 5 of such people. Each person will have a checking account that would be for their benefit. I will decide if the money is used in a manner that they wish. For example, I know someone that only receives $1,000 per month. If they were to want a $250,000 house, I will decline their request. They will not be able to afford the insurance, taxes, and utilities. However, if they were to want a good quality used automobile, and they have a driver’s license, then I will allow it. If I wish to give any gifts for special occasions, it will deposit into this account, and I will let them know of the deposit. Once the account goes down to $0, I will close the account, and let them know they have nothing remaining.