Jonathane Michael Ricci – Have you ever thought about the who, what, where, when and why of Retirement? Before anyone can ask these questions, maybe we should consider what ‘Retirement’ actually means. Jonathane Ricci, CEO and President of Archimedes 13 Management Group, operating as A13MG, talks about retirement taking on a whole different meaning from what was originally intended. Traditionally, ‘Retirement’ could be defined as ‘the action or fact of leaving one’s job and ceasing to work’. According to Ricci, Retirement is “a state of being where your mind keeps active in an environment of fun, comfort and rest”. Very different and very much something to look forward too.
Jonathane Michael Ricci says that modern day retirement may include being in a completely different place that you have lived in past years, and such factors that go along with that should be considered. One can argue that the world, and its borders, have never been closer. In this common day version of “Retirement”, Ricci explains that there are a number of factors, presumably different for everyone and presumably never before considered, that now should be considered to arrive at your ultimate retirement place and plan, those being categorized as (i) UTOPIA; (ii) CITIZENSHIP; (iii) RESIDENCY; (iv) OPTIMAL WORLD-WIDE TAXATION; (v) INTERNATIONAL ASSETS; and (vi) BANK ACCOUNTS. UTOPIA refers to where YOU want to be living out the rest of your years AND, more importantly, what you want to be doing during that time.
Ricci says that not many people think about ‘WHERE’ they want to be and “WHAT’ they want to be doing. For the ‘WHERE’, people need to look at lifestyle, temperature, climate, proximity to family, necessities, and health needs. Some may like it hot. Some may like it cool. For others, its close to good hospitals. And again, for others, it’s close to friends and family. Regardless of where you end up, everyone should go through this analysis to determine the best place for them to be. For the ‘WHAT’ you want to be doing, keep this in mind: it’s been said many times that for retired people, keeping your mind active, even just a little, does wonders for the quality of the rest of your life. What makes you tick, what gets you excited. What can you do that does not feel like work, but still gives you purpose. These are the kinds of questions that you should be asking. Although sitting on a couch or laying in a bed for the rest of your years to some may seem logical, Ricci believes that you will get bored really quick, and may lose some ‘zest’ in your life. Ricci says that another consideration that many people miss in terms of considering modern day Retirement is CITIZENSHIP.
Obviously, most people are a citizen of the country they currently live in, however, if the analysis under ‘UTOPIA’ points to a different location for someone, then it may be worthwhile to see what the requirements are to be a ‘citizen’ of that particular place (requirements including qualifications, time for living there, etc.). Also, Ricci explains that acquiring citizenship in another place does not necessarily mean that you are giving up citizenship of your current country (i.e., there are possibilities of dual citizenship). Close to the analysis of CITIZENSHIP, another factor which may sound the same, but is not always, is RESIDENCY. What that means, is that you can be a resident (temporary or permanent) of a particular place and still be a citizen of another country. So maybe for you, being a resident in the place you want to be is easier and less cumbersome than becoming a citizen of that place. Again, considerations include qualifications, time for living there, buying property, operating a business, etc.). Archimedes 13 Management Group manages many aspects of its clients businesses, and one near and dear to its heart is Taxation, specifically, OPTIMAL WORLD-WIDE TAXATION.
Ricci says that this is one of the least considered factors but considers it one of the most important. Sometimes, it’s hard to imagine, but from country to country to country, there are different rules of taxation that apply to different types of income and gains. And, there are certain countries where the tax rates are lower than what you may be used to. So determining where you might get the best bang for your dollar from an ‘Uncle Sam’ perspective is important. An analysis of this could include (i) where are you a tax resident of now; (ii) what does your citizenship say about your tax residence; (iii) are you stuck in a ‘world-wide’ taxation jurisdiction; (iv) can you move to a place where you would finish your years paying less in taxes; (v) will you be double taxed if you make a change to your current taxation residency. If you decide to move somewhere else, what do you do with your current assets (i.e., your home, cars, other properties, investments, banked funds, etc.). And, correspondingly, what would you acquire in a different place (property, car, investments, business, etc.). How do you maneuver your current situation to a new situation in this globalized INTERNATIONAL ASSETS world.
This is another factor, according to Ricci, that is missed when deciding to take advantage of modern-day Retirement. Close to the INTERNATIONAL ASSETS considerations are your BANK ACCOUNT needs. I think we can all agree that we need some form a bank account to function. So, when deciding that you may ‘move around’ in your final years, do you have access to your current bank account (i.e., does it allow you to freely move money online from anywhere you are)? And, where you are going, is it relatively easy to open up a local bank account there? Cross border free movement of monies is an important consideration so that your funds are not ‘STUCK’ somewhere without you or your loved ones (if need be) having access to these funds. Jonathane Ricci of A13MG says that the above factors are all important considerations to determine the who, what, where, when and why of modern day ‘Retirement’. He has listed the determinations in an easy to remember acronym that he calls:
‘YOU SEE R O I BENEFITS’ YOU UTOPIA SEE CITIZENSHIP R RESIDENCY O OPTIMAL WORLD-WIDE TAXATION I INTERNATIONAL ASSETS BENEFITS BANK ACCOUNTS
WHO IS JONATHANE RICCI?
A lawyer by background, Jonathane Ricci has worked with KPMG, an international accounting and tax management firm, and has worked as a lawyer in his own firms and businesses, and is currently licensed and in good standing in New York and Michigan. Jonathane Ricci has spent his professional life understanding the basics and fundamentals of Taxation and Asset Protection, and is now sharing that knowledge and experience with his clients by way of offering professional management services worldwide, specifically in the areas of operating businesses, protecting wealth, and buying/selling fine art and like assets.
Jonathane Ricci has some great experience to share with his clients. As well, Mr. Ricci provides professional management services through his headquarters company in Toronto, Archimedes 13 Management Group, doing business as A13MG. These services include the hiring of professionals for any client matter, whether in Ontario, other provinces in Canada, U.S. states, or even other countries and jurisdictions. In addition to hiring professionals, Mr. Ricci stays with you, throughout the course of the project, and manages such professionals, such as lawyers, accountants and tax professionals. What does this do for you as a client? It provides you someone, on your side, to watch the project and make sure your objectives and goals are met with the services of the professional, With his years of schooling, his focusing on taxation and asset protection in his studies, his time at KPMG and in his own firm serving clients, and the countless number of situations his clients have endured for the 22 years of his professional life, Mr. Ricci is the kind of person that you WANT on your side when a project is needing to be done by professionals.
You always have access to Mr. Ricci, and he values communication with clients as a number one pillar of providing services. He is available, and more importantly, does not ‘start the clock’ every time you have a question about your project. Very pragmatic, professional and reasonable, are attributes Mr. Ricci practices. Mr. Ricci has bult a career learning and practicing asset protection and tax optimization and enjoys sharing, teaching and implementing his practices with his clients.
When it comes to hiring professionals, Jonathane Ricci has built solid relationships with professionals in Canada, United States and other countries and jurisdictions, and to this end, Mr. Ricci can truly provide management services to his clients around their wealth in a way that is different from other service providers in the market, and Jonathane Ricci can also share many of his client experiences and his own best practices with you to offer unique professional management service experiences that you cannot get anywhere else.
For more information, please visit www.JonathaneRicci.com
