Author: fmontelara

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Mañana nuevo episodio de Potencial Millonario

Mañana, Sábado a la  8:00 am estará disponible el episodio mas reciente de Potencial Millonario. No se pierda el tema del fondo de emergencia y el segmento “Alguien a quien usted debe conocer.” Biografía de un millonario…

Y si tiene alguna sugerencia de algún millonario, empresario y persona destacada de su país déjeme su información al 334 357 6410 o envíeme un mensaje a fmontelara@potencialmillonario.com

Espero que lo disfruten.

Felix A. Montelara

Autor: Potencial Millonario (the Book)

Potential Millionaire (Nick)
Potential Millionaire (Nick)
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How Brazil’s Richest Man Lost $34.5 Billion

Stay tune to this story it will take some time but Eike Batista will rise again.

Felix A. Montelara

Author: Potencial Millonario

—Reuters- OGX, the Brazilian oil company controlled by former billionaire Eike Batista, sought court protection from creditors on Wednesday in Latin America’s largest-ever corporate bankruptcy filing.

The bankruptcy protection request, which was confirmed by the court in Rio de Janeiro, came after OGX failed to reach an agreement with creditors to renegotiate part of its $5.1 billion debt load.

Jonathan Alcorn | Bloomberg | Getty Images
Eike Batista, chief executive officer of EBX Group Co. Ltd.

It also is another chapter in the unraveling of Batista’s once high-flying industrial empire, which he has been dismantling in recent months after disappointing output from offshore OGX wells set off a crisis of investor confidence.

If the court approves the request, OGX will have 60 days to come up with a corporate restructuring plan. The company’s creditors, which include the California-based bond fund Pacific Investment Management Co (Pimco), and U.S.-based investment fund BlackRock, will then have 30 days to endorse or reject the plan.

Officials at OGX and EBX, Batista’s holding company, did not immediately respond to telephone calls and emails seeking comment.

An OGX bankruptcy is unlikely to have a significant effect on Brazil‘s economy. The company is barely out of its start-up phase and produces almost no crude oil, and most if its debt is held by foreign bondholders. But the fate of sister company OSX Brasil depends almost entirely on OGX, whose market value has plummeted by nearly $45 billion since its stock peaked in October 2010.

Eike Batista under investigation by Brazilian regulators
Brazilian oil tycoon Eike Batista set a record for wealth loss, reports CNBC’s Robert Frank. Between 2012 and 2013, Batista lost over $33 billion in paper wealth.

Batista created OSX, which had to scale back efforts to construct the largest shipyard in the Southern Hemisphere, to build and lease oil production and service vessels to OGX.

A renowned dealmaker who once boasted he was on track to become the world’s richest man, 56-year-old Batista has seen his personal fortune reduced by over $30 billion in the last 18 months as investors punished the share price of his listed companies.

The downward spiral forced Batista to start breaking up his Grupo EBX conglomerate, which also included a port operator, mining and energy interests, and an entertainment company.

Batista’s rapid decline has become a symbol of Brazil’s own economic troubles. After a decade-long boom in which investors poured cash into Brazil and Batista’s enterprises, Latin America’s largest economy has been in a rut for nearly three years, frustrating predictions that the country was poised to join the ranks of developed nations.

OGX’s decision to seek protection from creditors came as no surprise. After missing a $44.5 million interest payment owed to bondholders on Oct. 1, OGX scrambled to restructure its debt before the end of a 30-day grace period or be declared in default on $3.6 billion in bonds.

The process was rocky from the outset, and OGX called off the talks with creditors on Tuesday, leaving a bankruptcy filing as the only viable option to buy more time in its quest to save the company.

 

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Financial Freedom Prayer

By Felix A. Montelara

Author: Potential Millionaire

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My Angel

Are you feeling financially broken?  Does a lack of money cause stress in your life and arguments between you and loved ones?  Do you find your mind wandering to thoughts of how you will make your utility payments, grocery bills, or other financial obligations when you should be focused on other tasks?  If you answered yes to any of these questions, it may be time to really lift these worries up to God in prayer. Prayer? You would probably tell me that you pray about this all the time. But I challenge you to be truthful with yourself right now.  What are you really asking God for?  Are you asking for more money, less bills, miracles?  Are you asking because your’re at the end of your rope, or because you’re at the beginning of your climb? You see, it makes a difference.

How are you approaching God right now, in this moment?  Is it in desperation, or in communication?  Communication, my friends, is what we need right now with God- and that involves you asking, and then listening to His answer.   Allow me to suggest a new prayer for your financial life- one that asks for instructions.  Let’s go to God in communication, asking for direction and listening for the response.  In addition, it may be time to involve the other people in your life who are affected by your money stress: your spouse, children, or other family members.  Be open with them, begin the conversation about money stress with letting them join in this prayer time.  Let the topic end there- sleep on it and listen to God’s response in your life.
Let’s begin with a quiet reflection on the Bible in Matthew 7:7, “Ask, and it will be given you; search, and you will find; knock, and the door will be opened for you.”
Leader: Holy Father, we come to you as children, as students needing guidance.  We lift up the concerns in our hearts, and ask for your divine guidance.  We pray to the Lord,
All: Lord hear our prayer.
Leader: Holy Father, give us the courage to speak openly and honestly to each other about our money issues, and help us to be calm and caring in our conversation.  We pray to the Lord,
All: Lord hear our prayer.
Leader: Holy Father, humble our hearts and remind us that your son, Jesus Christ, came from the poorest of beginnings but was still the King of Kings.  Teach us to live within our means, to budget our funds, and to spend wisely on what we truly need. We pray to the Lord,
 
All: Lord hear out prayer.
Leader:  Holy Father, forgive us for our mistakes, and help us to forgive each other.  Release us from the burden of debt we have unwisely chained to ourselves.  Release us from our anxiety about money.  Release us from the tension that strangles our relationships.  We pray to the Lord,
All: Lord hear our prayer.
Leader:  Holy Father, make our minds and hearts still so that we can listen to your instructions.  Guide us to make good decisions, be with us when we choose, let us hear your council.  We pray to the Lord,
All: Lord hear our prayer.
Leader:  Thank you, Holy Father, for this time together.  Let this moment be a new beginning.  Let this moment cleanse us and heal us.  Let us breathe in your spirit and let us pick up our cross, knowing, Father, that you help us carry it.  In Jesus’ name we pray,
Financial Freedom Prayer
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Puerto Rico Invita Millonarios a Cambiar de Residencia

English: A Glass Bottom Ferry near Puerto Rico...
English: A Glass Bottom Ferry near Puerto Rico, Gran Canaria. Deutsch: Ein Glasbodenboot nahe Puerto Rico (Gran Canaria). (Photo credit: Wikipedia)
 By Felix A. Montelara
Autor: Potencial Millonario
Antes se consideraba un paraíso de vacaciones , la pequeña isla de Puerto Rico está tratando de llevar a los ricos a vivir allí de forma permanente.  A principios de este año , el Secretario de Desarrollo Económico y Comercio, Alberto Baco Bague , viajó a Nueva York para explicarle a los ricos todos de los beneficios que Puerto Rico tiene para ofrecer.
Un artículo escrito por Dan Bobkoff (npr.org) explica los esfuerzos del gobierno de Puerto Rico: “Bajo las leyes promulgadas en 2012, cuando una persona se muda a la isla, todos los ingresos por inversiones de esa persona, al igual que las ganancias de capital, dividendos y los como – es completamente libre de impuestos… Y, como lo es para todos los residentes de Puerto Rico, alli es no hay impuesto sobre la renta federal.”   Ademas, Sr. Bobkoff dice que “las reglas dicen que usted debe vivir en Puerto Rico por lo menos 183 días al año y demostrar que usted es realmente parte de la comunidad. Su cónyuge debe vivir con usted, y sus hijos deben ir a las escuelas locales “.
El gobierno de Puerto Rico es el lanzamiento de este esfuerzo con la esperanza de estimular la difícil situación económica de este territorio de los EE.UU.. Según el artículo, los sentimientos acerca de los beneficios dados a estas nuevas elites es mixta, que van desde el desconocimiento de las nuevas leyes a de resentimiento. Mientras que traer a los ricos a la isla se piensa para traer más industria, el empleo y opportunidades a los locales, existe un cierto riesgo político en el tratamiento de esta nueva clase diferente a la ciudadanía local.
Me encantaría tener sus pensamientos sobre este tema. ¿Crees que este tipo de táctica es beneficioso para Puerto Rico? ¿Cómo te sentirías si tuvieras que pagar impuestos locales y los ricos no? ¿Valdría la pena que a la economía? Llámame o envíame un email con tus pensamientos!
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Puerto Rico Invites Millionaires to Relocate

Coat of Arms of Puertor Rico
Coat of Arms of Puertor Rico (Photo credit: Wikipedia)
By Felix A. Montelara
Author: Potential Millionaire
Once thought of as a vacation paradise, the little island of Puerto Rico is now attempting to bring the rich and wealthy to live there- permanently.  Earlier this year, the Secretary of Economic Development and Commerce, Alberto Baco Bague, travelled to New York City to explain to rich stock brokers the benefits that Puerto Rico has to offer.
An article on npr.org written by Dan Bobkoff explains the efforts of the Puerto Rican government to entice millionaires: “Under laws enacted in 2012, when someone moves to the island, all of that person’s investment income, like capital gains, dividends and the like — is completely tax-free. Plus, service income — say, a hedge fund’s management fees, is taxed at just 4 percent. And, as it is for all Puerto Rico residents, there’s no federal income tax.”  Mr. Bobkoff continues that in order “to take advantage of the tax breaks, the rules say you must live in Puerto Rico at least 183 days a year and prove that you’re really part of the community. Your spouse must live with you, and your kids must go to local schools.”
The government of Puerto Rico is launching this effort in hopes of stimulating the difficult economic situation in this U.S. territory.  According to the article, feelings about the breaks given to these new elite are mixed, ranging from ignorance of the new laws to resentment.  While bringing the rich to the island is thought to bring more industry, jobs, and opportunities to locals, there is some political danger in treating this new class differently than the local citizenry.
I would love to have your thoughts about this issue.  Do you think this type of tactic is beneficial to Puerto Rico, or any other country or city?  How would you feel if you had to pay local taxes and the newly invited rich didn’t?  Would it be worth it to economy?  Call me or email me your thoughts!
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Is it Christian to want to be a millionaire?

By Felix A. Montelara, Author: Potencial Millonario

This is a question that has come up in my email and phone conversations.  If a Christian wants to be rich, is he or she serving two masters?  We are all familiar with the Biblical texts (for example Luke 16:13) which council that we cannot serve two masters, and if we try we will end up taking sides: pitting one against the other in our hearts and actions.  With this strict advice and warning, we must be careful to examine just what we are doing when we strive to fulfill the Potential Millionaire in all of us.

Let me make it clear:  I do not want you to serve God and money.  I want you to serve God, and let your money serve you.  I firmly believe that God sets before all of us wonderful opportunities every day, and these opportunities can lead us to great wealth and well-being.  We must recognize them, choose them, and be thankful to God for them.  The personal finance strategies that I recommend and employ are really stewardship principles, in which I am helping you recognize, understand, and avail yourselves of the opportunities that God sets before you every day.  It is through this process that we all realize the Potential Millionaire status that God sets at our table- we must choose His blessings in order to manifest this lifestyle for ourselves.  By serving God, by making him number one in our lives, we become aware of his teachings, blessings, and actions in our lives.  That’s when doors start opening in our financial future.
Money is a gift from God, and we must make it serve us in a God-like way.  We must never become greedy, take what is not ours, or act at the expense of others.  Money is a powerful tool with which to serve others, help those less fortunate than us, and spread the Word of God.
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How Do I Build A Million Dollar TSP Account?

Mike Causey’s Federal Report

Here’s how to do it:

  1. Invest the maximum amount you are allowed (so you get the 5 percent government match) in the Thrift Savings Plan.
  2. Pick the right fund (or combination of funds). Stick with them, except when you need to change.
  3. Stir occassionaly for 20 to 30 years and wham, bam, you are a millionaire.

It’s been done. Seventy five current feds have TSP accounts worth a million or more, although most did it via the rollover route. .

So is the road to riches the stock market-index funds? It can be a bumpy ride taking you up and down depending on war, weather, economic conditions, the price of oil and even volcanoes in Iceland. Throw in the occasional asteroid strike to make it interesting.

Or do you get rich by playing it safe and sticking with the G-fund which invested in special U.S. Treasury securities that are not available to people outside the TSP? Its payoff is never heart-pounding exciting, but it has never had a loss.

Mike, an employee of the Department of Veterans Affairs takes the slow-but-sure approach. “Becoming a TSP millionaire can be done with zero risk strictly through investing in the G fund,” he says. “There is no need to invest in the risky C, S, and I funds. Just contribute the max each year (currently $16,500) and over a 30 year career you will exceed a million.”

Over the last 10 years the G-fund and the much-neglected F-fund (bonds) have outperformed the stock-index C, S and I funds. But when the CSIs have a good year (like 30 percent returns) it can be avery good year.

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