“…what’s a working girl to do with all her earnings in order to safeguard her future?…”

Real estate. Bargains galore.

Music today…
Doves singing “Snowden”
Porcupine Tree singing “Lazarus”

00-Ichi, On Her Majestys Secret Service,

Well — a few years ago T-Bills were an option, as well as global currency markets, but with the weak dollar and low returns right now, maybe not so much. But the idea is long term security I think — not so much about growth.

But I think you’re right. Real estate is always a good option; even international real estate. Do you have any idea how much house you can buy in places like Costa Rica, El Salvador and Ecuador? It’s a great investment and is a nice place to retire too!

Music today? Hmmm… not quite sure what I’m in the mood for yet today. I’m still drinking tea!

nina

Nina: They should take the money and run……………….. I wake up every morning and I’m so thankful I live here. There is so much shit going on in the world that it just is amazing. This country has been in bad times before and,all you can hope it will pull thru this shit going on now. The price of fuel is not an issue, it is our people in Washington. Almost all of them are as crooked as a barrel of earth worms……… That’s crooked….
Thank you Nina for your help on the computer, you are a gem. Richard

Interestingly, Nina, there is an answer to your question. There’s even a couple of books about the subject of how to run your business as an escort, including what to do with your money.

One is http://www.amazon.com/Business-Side-Escorting-II-Intelligently/dp/0595472303

The other is in the series Amanda Brooks is doing: http://www.escortmba.com

What it boils down to is that it is almost impossible these days to move that kind of cash without attracting attention. Even with buying money orders, for example, all transactions over $3K are reported. And we all know that any transaction in the banking system over $10K gets reported (and that was in place long before the Patriot Act came about).

Basically, anyone who takes money earned from an illegal activity and pushes that money into the “legal” commerce system is guilty of money laundering. So the feds can use that to get you regardless of how much money is involved. If you use the mail system to move ANY amount of money earned through illegal activities, you can be prosecuted for mail fraud as well. Those are what got Palfrey.

And, then, of course, there’s tax evasion. Even if you earn the money illegally, the IRS expects you to pay your taxes on it (and they generally DON’T report illegal money to law enforcement, btw. Most escorts list “entertainment consultant,” “relationship consultant” or some such on their tax returns). You’ll be in far greater trouble if you fail to pay taxes than if you launder money, generally speaking.

Of course, if prostitution were legalized (or even decriminalized), then the basis for such prosecutions would go away altogether.

And, also, even moving money offshore now gets tracked due to the Patriot Act, so there’s no pushing into off shore investments without attracting attention (in fact, you’d have the exact opposite effect).

The best thing to do is make regular cash deposits into a bank account, below the $10K threshold. If someone at the bank asks what you do, explain that you work in some line of work that involves cash only transactions. But keep in mind that they are legally required to report suspicious transactions, regardless of the amount involved. Some have suggested giving cash to friends and having them write checks to you, but that would require you to let them in on what you do potentially.

Oh the i-r-o-n-y.

In other news, HE MAN was sighted today!

Hi Richard!

Oh sure hon! No problem! It always feels good when I can save my friends 600 dollars!

Have a great day sweetheart!

nina

Caitlain,

Thanks for the links and for your input on this. The issue as I see it is that women who do work in the sex business absolutely need to be smart and aware of managing their money. You raise all the right points and issues with dealing with large sums of cash.

Tho, I’m even a little hesitant about the idea of making regular cash deposits, because even on a weekly basis, a successful girl is earning more than 10k per week. Unfortunately, above board investment vehicles are often out of the question, for all the reasons you’ve listed — so I’m more inclined to be thinking about overseas banks which are friendlier to such transactions, or foreign investment. But — a nice big safe deposit box isn’t a bad idea either.

I’d be curious to check out those books!

nina

Lazy Ichi, Spy,

lmao! More HE MAN huh?

Oh that’s priceless! Too funny!

Hey — did you see this? Congress is threatening to arrest Karl Rove! WOW!

nina

Goddess Nina,

The safe deposit box is a good idea (and one discussed in the books), but if the gubmint is investigating you, they can get a warrant to search the box (and seize the contents). You’d also have a tough time paying taxes on that; the IRS doesn’t accept cash, of all the ironies. The IRS does a LOT of crosschecking between financial transactions with your name on them and what you pay in taxes. You’ll be in Red Flag City before you know it. Generally, though, with everything else going on, you’re liable to be able to skate through largely unnoticed unless law enforcement takes notice of you for some reason (which they tend not to do to escorts/escort services so long as they don’t “come across” you during their investigations of someone else [i.e., political figures, primarily, as was the case with Palfrey, and the case involving the service(s) Spitzer used]).

And I’m not aware of any way to move money offshore/overseas these days without attracting attention. If anyone has any suggestions, I’d love to hear them! lol

Caitiebelle my love,

All good points — which is why it isn’t the worst idea in the world to have someone you absolutely trust help you open up a “rainy day box” just in case you need to leave quick (and an exit strategy that only you know) — and you’re absolutely correct about law enforcement not really getting involved unless they notice you or your clients, which is why maintaining a low profile is advised here.

There are ways to move money — but for the independent call girl that isn’t always the easiest thing to do. Other ‘illegitimate’ businesses have hired muscle to protect their interests, which also isn’t a bad idea to have connections like that just in case, and there are always unsavory characters out there who would just as soon rip you off and roll over on you if it came down to you or them — so that’s not an ideal situation either.

Aside from traveling to a foreign country with your money with you — moving it legally is a challenge. You could convert the cash to cashiers cheques and do it that way, as long as the cheques were under the 10k threshold and issued by different banks. That’s a possibility, and then you could open an account in a “friendlier” country. There are ways to do this successfully — tho I need to do a bit more research on this.

And of course… this entire conversation is purely academic after all.

Did you see this? The NY media is still hounding Ashley! Assholes! Tho she looks great — and I have those exact same sunglasses! lmao! But according to the NY Post, Ashley is also cooperating with investigators… sighs… but wtf is she supposed to do, you know?

Tho it’s always a good idea to remember nina’s words of wisdom to live by: Never choose a partner with less to lose than you, because in the end, it’s every girl for herself.

nina

A late but interesting R.I.P. Morson Clift.

Cait,
There are ways to “take care” of money. Invest for stakes in businesses for cash, precious gems, real estate, or any avenue that’s cash only.

And there are a couple of countries in Europe which still protect privacy for depositors. Someone could hire a private jet to fly them over, but that gets to be expensive after awhile.

If you move it to Canada, then they start watching at the $10K level. And the US border guards thoroughly xray all vehicles. And they don’t have a sense of humor either.

And I would be leary of luna-tics who make people paranoid (Amanda knows this reference).

And Nina, the $10K limit is a red herring since they start tracking at $3k increments and then take the cumulative. That’s what probably tripped up Spitzer. All courtesy of the Partiot Act.

Btw, it is nice to know that all these laws passed by Republicans (and Democrats too) can be used by the next administration which will likely be Democratic.

That’s one of the beauties of stupid people. They only see the moment at hand when they’re in power, not the future when they’re out, and at risk of what they passed as laws. Always predictable.

Kinda like Georgie. Buys all that land in Paraguay (100,000 acres in the country where all the Nazi ware criminals fled to) and the stupid citizens elect someone signs extradition treaties so there’s no safe refuge there anymore.

Lazy Ichi,

“And Nina, the $10K limit is a red herring since they start tracking at $3k increments and then take the cumulative. That’s what probably tripped up Spitzer. All courtesy of the Partiot Act.”

Oh that’s right! That’s a great point, thanks. But I’m questioning how we convert cash into legitimate real estate holdings. When law enforcement comes looking — if they come looking — usually wants to know how a person is living and how they’re paying the bills. At some point you need to get a bank involved unless you can purchase property outright for cash — but then that becomes an asset.

I think this also goes back to a point you made in another thread here where we were discussing how for some women working in the sex business it can become a lifestyle rather than a strategy. For too many I think, with all that cash, it becomes about maintaining a certain level and standard of living — which always demands more and more to sustain it.

The idea — I think anyway — is to make you money and then get out and do something else and have a very nice cushion which will then allow you to live the way you want.

Hey — could you define ‘luna-tics’ for me?

Thanks!

nina

Lazy Ichi, Communitarian,

Great point — it kind of reminds me of when a few years ago when a Republican controlled senate wanted to eliminate the filibuster rules concerning judicial nominations. At the time the GOP caucus had swallowed the Karl Rove “we’re going to be a permanent ruling majority” kool-aid and they thought they could do whatever they wanted.

How things change…

But my last thought of the moment — there are countries in Europe and S. America, and Hong Kong, which are friendly to foreign investment, and who also take dollars. The issue is getting them there.

I like the lear jet idea!

nina