CHAPTER 7-Missing the Opportunities
It is our hope that TROPTIONS holders will discover more and more ways to use their TROPTIONS. This failure to act is typically the foundation for disappointment. Consider some ways that anyone can make use of TROPTIONS.
Parents can gift $15,000 to their children each year. This passes generational wealth and allows your children to make use of their TROPTIONS.
Married couples have unlimited gifting ability with a gift tax. If you are ever sued, move your assets to your spouse but keep the TROPTIONS in your name. If the judgment goes against you, you might pay off the debt in TROPTIONS.
Gifting TROPTIONS to a church or registered charity gives the donor FULL VALUE deduction on taxes. The value is not what you bought them for, but the value on the day of gifting. You can do some good for the charity and reduce your tax liability in the year of the gift.
In a day when privacy is increasingly rare, think of your TROPTIONS account as "Mattress Money". Your digital wallet is absolutely secret and private. You can hold a small dummy account if you like and keep your larger holdings in another FreeWallet account.
Another interesting use of your TROPTIONS holdings is when it comes time to buy a house. Instead of putting 10% down and getting stick with the PMI, use TROPTIONS for the additional 10% and knock out the PMI. If the seller is curious, allow the sale price to buffer the extra value.
Also when buying a house, use your TROPTIONS to show your assets are large enough to get the best rate from the bank.
If you operate a business, TROPTIONS can be moved to your business's asset sheet. There are times when the ability to get a loan or good line of credit is predicated on having enough assets on your balance sheet. By obtaining a loan or line of credit, you are able to provide liquidity to your business.
You see, there are a number of passive moves that anyone can apply rather than suggesting that TROPTIONS have no value to you. We have just listed seven ways that TROPTIONS can benefit you.
These are not wealth-building options but intended to demonstrate yet other values that TROPTIONS holders may employ. If the TROPTIONS initial purchase was low (say $200) but now at $1200, the owner may donate the TROPTIONS at current value. For those who as dubious about this maneuver, consider someone donating appreciated stock, a vehicle, or jewelry to the church to get the same treatment. Regardless of whether a person prefers or rejects these options, these seven choices demonstrate that there are more choices than suggesting that the person has no good options for the use of their TROPTIONS holdings.
We see PASSIVE and ACTIVE opportunities currently, and the near-future goal is to add even more options for both types of approaches. Either way, any TROPTIONS holder can use their TROPTIONS for some measure of benefit.