Because There Can Be More To The Good Life, A Higher Level, A More Abundant Life -
From Mere Wealth To Prosperity
Wealth preserving economic insights make living the best of the good life prudent wealth management
Pro-sperity is the ticket to Your Economic Success.
YES now shares the prosperity secrets of the super rich with pro athletes.
YES Yacht Executive Solutions provides successful yacht owners with customized proprietary strategies to preserve and protect their wealth and long term net worth from the costs and consequences usually associated with living the luxury lifestyle.
The secret of Net Worth Neutral yacht ownership? Living the luxury yachting lifestyle with no adverse economic effects. Instead of an extravagant lifestyle expense, living the good life becomes profitable, prudent, long term wealth management.
YES is now willing to share these wealth preserving secrets of the super rich with a few select professional athletes so they too can preserve and protect their wealth and long term net worth, secure their financial futures, and ensure they are not one of the nearly 80% of retired professional athletes either bankrupt or in financial distress within only a few years of their last game.
Athletes, entertainers, and billionaire boaters surprisingly share some similar financial challenges:
according to the federal government, most needlessly over pay their taxes, and
they struggle with industries designed to financially exploit them.
Yet, some seem to enjoy perennial prosperity while others labor to become the working wealthy. Why?
Is there something you could learn from the most successful of the super rich yacht owners? YES.
YES Yacht Executive Solutions focuses on making yacht ownership and the yachting lifestyle prudent wealth management for some of the world's wealthiest.
The YES Pro-sperity strategies have been specifically designed with the needs of working professionals: athletes, entertainers, executives, entrepreneurs, etc. to help them achieve the next level of long term financial success. As one astute Florida CPA put it, "This proposal is a REAL game changer for your clients.”
One of the secrets of the super rich to their long term multi-generational prosperity - versus mere temporary "working wealth" - is the ability to minimize taxes and prudently invest over the long term.
The most sophisticated and successful of the world's wealthiest families have long known their tax strategies can be 10 times more important to their long term net worth than their investments.
Now we can help professionals live the good life too!
Our mission is to help share the good life with others by making the luxury lifestyle less taxing and more rewarding. Enjoying all the best the luxury lifestyle has to offer should also be self sustaining, prudent tax planning, and wealth management. With YES, most can expect effective maximum tax rates of only 9.6 – 19% and usually much, much less.
Prosperity, living the "good life" is about more than just yachts. A good place to start may be your cars?
Consider your automobiles for example. Are your cars an expense or investment?
Are you losing money or making money on your automobiles? Are you driving the best cars, reducing taxes, not loosing money, but actually making money while driving them? If not- why not?
Luxury automobiles, like yachts and other alternative assets, properly structured, can now be a "winning tax strategy" and a very profitable passion. Applying these strategies for the right automobiles can be an essential element of prudent wealth management to keep your financial future on the right track.
Obviously, if we can make yacht ownership - not just net worth neutral - but actually profitable - what can we do with other assets? But we don't stop there.
We help take wealth to another level.
What if you could cut your taxes by up to 50% or more - and then invest those savings?
Or, what if at some point in the future - you could recoup all of the taxes you paid - plus interest?
Or, what if you could be assured - not just of your long term financial security but also of sufficient financial resources and assistance to fund those causes that are important to you?
Now that we can lower taxes for high income professionals by an average of more than 50%, there is simply no longer any reason for anyone to pay more than a maximum 20% federal tax rate – even as a highly compensated W2 employee - unless they simply wish to or don't know any better.
Especially for those in high tax states that are philanthropically minded and sensitive to the community needs of those around them - like many professional athletes - how can we in good conscience not try to help them help as many people as possible?
Prosperity In A Failing System
The many personal tragedies of once multi millionaire celebrity professional athletes are too common and well documented.
Depending on the source, its estimated that up to 80% of professional athletes are bankrupt, divorced, and / or financially insolvent within several years of their last game. After burning though millions and often tens of millions of dollars, many are economically distressed, confronting personal challenges, and often with limited prospects.
Garnett sues former accountant
in latest legal battle tied to Duncan’s
Guillermo Contreras Sep. 7, 2018
Retired NBA star Kevin Garnett is suing his former accountant for $77 million, claiming he was complicit with a wealth manager who for years looted Garnett’s earnings — the same financial manager sent to federal prison for defrauding San Antonio Spurs legend Tim Duncan out of millions of dollars in an investment scheme.
Clearly a system that leaves 80% of its players bankrupt is failing, at least the athletes, not the owners and the financial advisors.
More disturbing is that this is nothing new. If the current professional financial advisors knew how to prevent such rampant client financial failures - they would have told you already - wouldn't they?
After an average professional career of only about 5 years or less, many feel they are discarded for the new kids.
It's nothing personal, just how the system evolved to compensate athletes for their labor.
Upon retirement, many players are essentially cast adrift, to potentially crash on the rocks - as emotional, physical and or financial wrecks.
That is similar to how the yacht charter industry developed.
Prior to YES, conventional wisdom in the yachting world was that if someone planned to buy a new yacht, they should expect to spend 10% per year on maintenance and crew etc. In addition, expect for it to depreciate another 10% each year. So to be safe, if one plans to buy a new $10,000,000 yacht, the net expense / loss after only 5 years could be $10,000,000 - $5,000,000 in yacht depreciation & another $5,000,000 in actual cash out of pocket expenses.
However, with the YES Net Worth Neutral yachting strategies, the yacht owner does not lose $10,000,000. He would at least break even, preserving his $10,000,000 net worth AFTER living the yachting lifestyle for 5 years, and may even earn a net profit.
Likewise, the Pro-sperity strategies are designed to preserve the net worth of professionals.
As explained elsewhere, like professionals athletes, everyone associated with the yacht owner or in the yachting industry actually makes money at the owner's expense. The yacht manufacturer, the yacht broker, the yacht charter managers, the yacht captain and crew - everyone involved makes their money up front.
At the end of 5 years, everyone else is on to a newer yacht, a new prospective owner, a new party and more up front fees. Wondering where al his "friends" have gone, the original yacht owner is left holding the bag, personally responsible for all the bills that are now coming due.
From the financial perspective of the "sportsmen" responsible for the industries' success- the yacht owners and the athletes- without the proper structure, both can pay a very high price for the pursuit of their passion.
Similar Problems = Similar Solutions
After the most sweeping reform of the tax code in a generation the Tax Cuts and Jobs Act (TCJA), the wealth preserving strategies of the super rich are now even more valuable to the financial future of professional athletes, corporate executives, and other highly compensated W2 employees.
Consequently, in addition to the page, Taxes, Yachts, and Wealth Preservation designed primarily to show how the right tax strategy can more than pay for a yacht and makes yacht ownership profitable, we recently added the pages Lower Taxes? YES Your Expected Savings and Your Ensured Success. - See For Yourself so everyone can understand and see for themselves the actual costs of over paying their taxes.
Consider a tax payer with $750,000 salary income could owe about $212,000 in federal taxes. However, with YES, it would be relatively easy to reduce federal taxes between $13,000 – $19,000.
Simply put - a tax savings of about a $200,000 is possible - just $20,000 tax on $750,000 of income.
Or consider a tax payer that is able to reduce their taxes by $1,000,000 this year. He then invests that $1,000,000 for 5 years at an Internal Rate of Return (IRR) of only 10% so that at the end of 5 years it would be about $1.6 million. Or if he is a business owner, or access to alternative investments, perhaps he can generate a much higher return for a longer period - lets say 20% for 10 years - then his initial tax savings would be worth about $6.2 million.
As economic consultants, we don't replace or compete with your current CPA, legal or financial advisors, but are essential supplements thereto. We provide specialized expertise and a competitive information advantage that complements and enhances the productivity of everyone's current as well as future efforts. Our contributions help ensure maximum efficiency and prosperity - with a special emphasis for those opportunities that might otherwise fall through the cracks or be overlooked.
In fact, the best and the brightest tax advisors and wealth managers welcome our addition to the team. They recognize our unique skills can relieve some of their burdens, making their jobs easier, more productive and efficient, thereby enabling them to provide better service and greater value to even more of their clients.
Another set of eyes with a different perspective helps everyone.
Unfortunately, at least initially, it's not uncommon for some CPA's, attorneys, financial planners, and asset managers to be a little cautious and reluctant to enthusiastically embrace what they may perceive as a potential competitor with skills they lack that can do things they can't.
What CPAs & other advisers say is NOT always exactly what they really mean is the gist of a 1996 Patrick Rice article, "What to do when your CPA says, you can't do that".
The takeaway was that CPAs, like many professionals, often say things that can mean something different to a lay person resulting in very costly misunderstandings.
When a CPA, financial advisor, broker, etc. says, "You can't do that," whatever "that" investment or project is you are trying to do, what they really mean is: "You can't do that - here with me".
"I've never heard of that,
I don't know anything about that,
I don't know how to do that, or
I can't make any money if you do that."
Therefore, since I can't do that, then no one else can do that either.
Your Economic Success depends on YES-Yachting Economic Strategies
The Yacht Executive Solution
To achieve the financial successes of a yacht owner, it's helpful to think like a yacht owner.
Take the game of chess for example. It's the classic thinking man’s game of strategy and skill.
To succeed one needs vision and the ability to stay at least one step ahead of the competition. When one has the correct pieces in the proper position with the right strategy – you win!
The same can be said for business, or for life in general for that matter.
So, what are your current plans? Any strategies that can make your luxury lifestyle profitable?
Do you have all the necessary pieces in place, or could you be missing some?
Just as it is almost impossible for a professional athlete to be as proficient at one position as another, one lawyer to be equally competent in all legal areas or one physician to be equally adept in all specialties – it’s unrealistic to expect any financial advisor to be able to specialize in solutions for every situation or client.
One would not expect a podiatrist to be a competent neurosurgeon though both are licensed physicians.
Neither would one expect a nose guard to be a very successful wide receiver even though both play in the NFL or a NBA coach to be a very competent NHL coach even both are professional coaches.
Yet that is exactly how too many high income / high net worth individuals, athletes, physicians, and business professionals manage their “financial teams” and why they constantly fall short of their financial objectives.
Either they don’t have all the right pieces on their financial team, or they don’t have them in the proper position. Many successful people are missing at least one important piece to their financial team – especially many professional athletes.
If you are a high income / high net worth individual, professional athlete, physician, or a business professional seeking to enjoy the luxury lifestyle AND maximize your net worth, we invite you to consider what just might be the missing piece to your financial success.
Could it be time to add a new piece to your financial team?
What is our secret?
First, unlike most other advisors – legal, tax, investment, etc. - YES usually puts its money where its mouth is. Unlike most other advisers that take your money upfront and then send you on your way wishing you good luck- YES and its cadre of affiliates are usually right there with you helping you succeed – or at least making sure you don’t lose!
In some cases and depending on the strategies employed, we have as much if not more to lose then you do.
How do the strategies work?
There are way too many possible scenarios to intelligently discuss in this format. Without knowing the specific goals, objectives and financial situation, it's impossible to determine which strategies are appropriate or best for each client / partner.
However we can say this. The single most determining factor of the success of most ventures are the people involved. The purpose of YES is not to replace any of your current team, but rather to bring specific expertise to make everyone on the team more effective.
Could YES be the missing piece to securing your financial future?
If you have any interest in learning more, please contact us for a confidential conversation.
Go ahead. It's your move!
That if your current advisors knew, surely they'd have told you already- wouldn't they?