As a reflection of his decades of experience as a retirement and financial planner, Robert M. Ryerson has shared his expertise in personal finance and economic trends through his involvement with The Society of Financial Awareness. Robert M. Ryerson recently established a private consulting company to educate investors on cryptocurrencies.
While cryptocurrencies are still viewed as high-risk investments, informed investors can make significant returns. Individuals interested in purchasing cryptocurrencies should do intensive research on the market as well as technical and security protocols for buying and storing their investment safely. This is especially important for investing in newer currencies.
Since much of the cryptocurrency market is unregulated, performing due diligence is key for avoiding scams. Once a promising opportunity has been identified, investors should only invest an amount that they can afford to lose. Cryptocurrency is not only highly volatile, but there are no financial protections for investors if their coins are stolen, lost, or mishandled by cryptocurrency storage companies.
In addition to his notable work in retirement planning and financial literacy education, Robert M. Ryerson is experienced in identifying theft and protection. Robert M. Ryerson is the author of the book, “What’s the Deal With Identity Theft”, a proponent of the data privacy act introduced to Congress by Senator Ron Wyden.
Known as the Mind Your Own BusinessAct, the proposed legislation will hold tech CEOs and other high-level executives personally liable for misuses of user’s private data. Alongside leveraging fines and jail terms for executives who attempt to cover up privacy breaches, the Act will also offer consumers more control over their data through the “Do Not Track” system. Under the Act, all large social media companies will be required to provide users the ability to opt-out of data tracking services.
As many tech companies argue that selling user demographic data is vital for their business models, the Act will allow firms to charge those who opt out of tracking a minimal fee. Since this may make some social media outlets an untenable expense for lower-income individuals, the Act would also introduce protocols to minimize any financial burdens on the economically-vulnerable who wish to retain their privacy.
Freehold, New Jersey resident Robert M. Ryerson is a Certified Financial Planner at New Century Planning. Knowledgeable on various investments including alternative assets like cryptocurrencies, Robert M. Ryerson speaks at educational seminars about the different types of digital cash technologies. Below are four top cryptocurrencies in the world as of the first quarter of 2020:
1. Bitcoin – Established in January 2009, this was the first decentralized peer-to-peer electronic cash system. It is also the most popular with a market cap north of $121 billion.
2. Ethereum – Founded by Vitalik Buterin, this cryptocurrency was launched in July 2015 based on the founder’s belief that there was a need for a new peer-to-peer platform with a more general scripting language allowing decentralized apps to be built and run around it. It has a market cap of slightly over $14.9 billion.
3. Ripple XRP – Developed by the Ripple Company, this is a real-time global settlement network facilitating instant, low-cost, and transparent international payments. It has a market cap of about $7 billion.
4. Tether – One of the first cryptocurrencies to peg themselves to an actual currency or other tangible assets, Tether was launched in 2014 as a platform to support the use of paper currencies in the digital sphere. It has a market cap of over $4.6 billion.
Robert M Ryerson is a certified financial planner and author of “What’s the Deal with Identity Theft – A Plain English Look at Our Fastest Growing Crime.” Robert M Ryerson recently told Fox Business that he supports proposed legislation to strengthen privacy protections for consumers.
In a report about Facebook CEO Mark Zuckerberg’s testimony to Capitol Hill regarding his venture into cryptocurrency, Mr. Ryerson weighed in on a bill proposed by Democratic Sen. Ron Wyden that would be known as the Mind Your Own Business Act.
The legislation would offer consumers an “easy, one-click way to stop companies from selling or sharing their personal information.” It would also improve transparency regarding how corporations use their data.
Mr. Ryerson described the legislation as “much needed” and “both timely and practical,” given that most of our personal data is now in the cloud and accessible by a range of entities. Stressing that our data is regularly used online by employers, medical professionals, and more, Mr. Ryerson cautioned that the best way to protect against identity theft is with a plan that includes restoration services.
Robert M. Ryerson has worked as a Certified Financial Planner since 1991. On a mission to help America’s workers secure their financial freedom during retirement, Robert M. Ryerson educates people about to retire on required minimum distributions (RMDs) and how they will affect their taxes during retirement.
Once a person reaches the age of 70 and a half, he or she must make RMDs from his or her 401(k) or IRA. These distributions will be usually be taxed. These taxes can be considerable, especially if the person is already collecting social security or is earning income from other investments. However, with some planning, you can save tax dollars occasioned by RMDs.
A good way to reduce taxes on RMDs is to convert traditional IRAs or 401(k)s to Roth IRA investments. Those working with employers offering Roth 401(k) options can convert these funds. If this option is not available to you through your work, you can still convert your IRA to Roth status. This should be done before retiring and before reaching age 70 and a half. When putting funds into a Roth IRA, you are taxed now when you are still working, rather than later on after retirement. This can generate huge savings, especially if you expect to earn significant amounts of money after retirement.
Certified Financial Planner (CFP) Robert Ryerson of New Century Planning possesses more than 25 years of experience in estate management and retirement planning. Additionally, Robert Ryerson is a Certified Identity Theft Risk Management Specialist (CITRMS) and author of the book What’s the Deal with Identity Theft: A Plain English Look at Our Fastest Growing Crime.
In 2017, more than a million children, two-thirds under the age of 8, were victims of identity theft or fraud, resulting in losses of more than $2.67 billion. Because a child’s Social Security number has not been used before, it is more valuable to criminals.
When a bank uses the child’s Social Security number to pull a credit report, nothing suspicious appears, so criminals can use the number freely. Typical warning signs of a child’s identity being used fraudulently include the child receiving pre-approved credit card offers or jury summons in the mail. In the event of suspicious activity, parents can place a freeze on the child’s credit report to prevent the opening of new credit accounts.
Robert M. Ryerson, a Certified Financial Planner (CFP) with more than 25 years of experience, started Crypto Currency Consultants, LLC, in 2018. Financial experts like Robert M. Ryerson can help people navigate the challenges of investing in new assets like cryptocurrency.
In 2017, Bitcoin split into traditional Bitcoin and Bitcoin Cash. While both Bitcoin and Bitcoin Cash are cryptocurrencies and use the same code to operate, Bitcoin Cash changed the size of the blocks used on the platform. This enables the blockchain to process millions of transactions per day, increasing its usability as a solution for day-to-day payments like cups of coffee and groceries.
Bitcoin and Bitcoin Cash each have their own advantages. Bitcoin Cash charges smaller processing fees for payments, due to the relative ease of processing. Bitcoin, however, has greater stability due to many mining pools, compared to just a handful of pools on Bitcoin Cash. However, Bitcoin Cash has made some technological adjustments to reduce the risk involved in a more centralized cryptocurrency.
In 1998, Robert M. Ryerson established New Century Planning Associates Inc., where he continues to serve as the New Jersey-based company’s president. A Certified Financial Planner, he assists clients with a variety of estate, retirement, and Social Security planning matters. Robert M. Ryerson also enjoys travel, with Ecuador being of special interest.
Rich in diverse natural beauty, Ecuador encompasses thee main geographic regions in addition to the Galapagos Islands: the tropical rainforest, Andes, and Pacific coastline. Each region has its own unique climate profile. Hence, a trip to Ecuador offers the opportunity to explore, in effect, four worlds within a single country.
The rich biodiversity of the humid Amazonas region is home to lush greenery and a range of wildlife that North Americans seldom see. Visitors can travel the area in a dugout canoe, as local Ecuadorians do. Situated in a sparsely inhabited area with portions inaccessible to humans, the Yasuni National Park is among the most biodiverse locations on Earth.
The cooler temperatures of the mountains offer the chance to visit the country’s historic capital of Quito, more than 9,000 feet above sea level. And with warm temperatures year-round, the Pacific coast encompasses some 1,000 miles of beaches, caverns, and forests.
A Certified Financial Planner, Robert M. Ryerson serves as the president of New Century Planning Associates Inc. (NCP) in Freehold, New Jersey. He and his team provide a variety of services, including estate and retirement planning in addition to insurance. An avid traveler, Robert M. Ryerson is particularly interested in the culture and scenery of Ecuador. In fact, NCP has recently explored the possibility of establishing a branch office in the Lope de Vega building in Cuenca to serve the needs of the many American expatriates who have made the area their home.
Thanks to its many examples of colonial architecture, the historic city center of Santa Ana de los Rios de Cuenca appears on the list of World Heritage sites published by the United Nations Educational, Scientific and Cultural Organization. Established in the Ecuadoran interior in the mid-16th century and surrounded by the Andes, Cuenca’s stylized arrangement is the result of stringent adherence to plans set forth by the Spanish king and Holy Roman Emperor Charles V.
The well-preserved buildings of note include the Old Cathedral, built on the site of native Inca ruins at the time of the city’s founding, and the New Cathedral, whose construction began at the close of the 19th century.
An accomplished professional in the financial services industry, Robert M. Ryerson brings three decades of experience to his role as a Certified Financial Planner with New Century Planning in Freehold, New Jersey. A noted figure in the field of retirement planning, Robert M. Ryerson plans to eventually open an office that caters to expat retirees in the city of Cuenca, Ecuador.
One of Ecuador’s most historic and beautiful cities, Cuenca draws thousands of tourists and retirees from around the world to experience its scenic landscape and unique culture. Listed below are three of the top things to do in this increasingly popular city.
1. Hike in Cajas National Park. Located just a short drive from Cuenca proper, Cajas National Park offers a diverse landscape that includes mountains, valleys, and lakes. A network of trails crisscross the park, giving outdoors enthusiasts an opportunity to explore Ecuador’s unique ecosystems and to encounter local birds and other wildlife.
2. Shop in El Centro. One the primary commercial hubs of Cuenca is the marketplace in El Centro. Hundreds of shops are clustered together in the district, offering shoppers everything from handmade alpaca clothing to local produce and baked goods. The area is also filled with food stalls and cafes for when you need a break from browsing the shops.
3. Visit Museo del Banco Central Pumapungo. In addition to a substantial collection of modern art, Ecuador’s rich history is on display at the Museo del Banco Central Pumapungo. Those who visit the museum can wander through galleries tracing the indigenous history of the region, as well as dioramas and reconstructions that bring ancient civilizations to life. The entrance fee also includes access to a nearby archaeological site that is believed to be the remnants of an ancient Incan city.
Certified Financial Planner (CFP) Robert M. Ryerson, a graduate of Rutgers University and experienced in his field, has embraced cryptocurrency. Enthusiasts like Robert M. Ryerson have invested in a system that stores information on a distributed ledger.
Cryptocurrency mining brings cryptocurrencies like Bitcoin out of the protocol’s base design and into the system. Cryptocurrency systems contain a specific number of units, like Bitcoin’s 21 million coins, but not all are brought out of the system immediately. Instead, the system “borrows” processing power from users who serve as “nodes” for the distributed cryptocurrency ledger, solving the mathematical puzzles that help the system work, and periodically rewards those nodes with coins.
Mining nodes discover the solutions to these problems by guessing at random, and the distribution of coins to the mining nodes is random as well. Receiving cryptocurrency as a direct result of mining becomes more likely with more computing power from additional CPUs or GPUs, but relies on being lucky enough to both successfully solve an equation and lucky enough to be chosen to receive the reward. Once received, the newly awarded coins can be used in the same way as any of the existing coins on the network. The downside of being a node, however, is that these “miners” need powerful hardware which uses a lot of electricity, an expensive proposition.
As a Certified Financial Planner (CFP) at New Century Planning in Freehold, New Jersey, and a financial strategist with The Society of Financial Awareness, Robert M. Ryerson draws on extensive experience with retirement plans and strategies. Robert M. Ryerson has published in Forbes magazine on the topic of required minimum distributions and is currently co-authoring a book on the same subject.
Many retirement plans, including traditional IRAs and all employer-sponsored plans, specify a point in time after which the account holder must start taking withdrawals. Usually, this point is set at when the account holder retires or reaches the age of 70.5 years, whichever occurs later.
The amount that the account holder must withdraw is known as the required minimum distribution, or RMD. The amount depends on a life expectancy number that the IRS calculates, in combination with the account holder’s marital status and how that status affects the account. If the account holder withdraws less than the RMD, the IRS will tax the difference at 50 percent.
Account holders often don’t worry about RMD amounts because they believe that they will be in a lower tax bracket upon retirement. This may be true, although many retirees are surprised to find themselves in the same or even a higher tax bracket due to complex provisional income rules. For these individuals, converting to a Roth IRA or other non-tax deferred account may be a wise move.
The way RMD rules apply to a taxpayer depend completely on his or her personal profile and retirement plan choices. A consultation with a tax or financial professional can provide important clarification.