Duo Zhou – Build Wealth with Duo

Financial, Risks and Me

November 12, 2019September 1, 2021
by Duo Zhou

In the past couple months, the stock market has been like a roller coaster to me, and the volatile performance, the fear of market crash, the trade war seemed to extend the fears. .

But up to now, nothing has happened, still the fear is still haunting us. Why?

Because we are afraid of losing, losing our job, losing our investment and losing our retirement... The biggest secret of investing, like Warren Buffett said,

"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."

Long Term Care

Do we need Long-Term Care

August 19, 2019September 1, 2021
by Duo Zhou

What is Long-Term Care (LTC)?

Long-term care (LTC) is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods. (Wikipedia)

Long-term care covers a range of services and supports you may need to meet our personal care needs. Most long-term care is not medical care, but rather assistance with the basic personal tasks of everyday life, sometimes called Activities of Daily Living (ADLs), such as: Bathing, Dressing, Using the toilet, Transferring (to or from bed or chair), Caring for incontinence, Eating.

According to longtermcare.acl.gov, more than 70% of Americans of 65 years or older and 37% of those of younger than 65 years old will be in need of Long-Term care, but only 22% have LTC plans...

Life and Health

You’ve got to protect your family

May 18, 2019September 1, 2021
by Duo Zhou

These days, most families are two-income households.

That describes 61.9% of U.S. families as of 2017 and 69% of Canadian families as of 2015 - United States Department of Labor.

"Employment Characteristics of Families Summary." Bureau of Labor Statistics, 4.19.2018, https://bit.ly/2kSHDvm..
"Dual-income families with kids have doubled in Canada over past 40 years, StatsCan says." CBC News, 5.30.2016, https://bit.ly/1OYwORd.

If that describes your family (and the odds are good), do you have a strategy in place to cover your financial obligations with just one income if either one of you was to unexpectedly disappear?

If either one of you was to unexpectedly pass away, it would be so much devastating; what if one of you was unexpectedly incapacitated, not only one-income would be disappeared, but could have also needed some constant home care?

Wow. That could really aggravate the devastating situation, couldn't it?

Asset Transfer

Safely Pass Your Assets to the Next Generations

May 5, 2019September 1, 2021
by Duo Zhou

No one wants to talk about the possibility of dying, but what will happen to you, who do you want to take care of you or what will happen to your loved ones after you’re gone.

While it’s an understandably sensitive and difficult subject to broach, a lack of planning causes a lot of families to be caught off-guard if an unexpected tragedy occurs.

Let me ask you, do you have any assets, such as residence, 401K, annuity, life insurance, investment, stocks, bank account, a business or even some digital assets?

If you have any of these, do you want to safely pass your assets to your loved ones when you pass away, or you want the court to take over all your assets, freeze every assets you have, take a big chunk of that (estate tax), then pass the rest over to your loved ones?

Tax Plannning

The Secret Behind Wealth – Tax Planning

May 4, 2019September 1, 2021
by Duo Zhou

The tax season in 2019 finally closed.

Amazon, which earns tens of billions a year, not only does not pay taxes but also refunds taxes! It turns out that the United States has opened tax avoidance and these gods operate...

And there are 60 companies in the US with billions or even billions of profits are enjoying the $0 federal tax benefit after the implementation of Trump's new tax reform.

However, the average tax refund as of March 22 is $2,915, according to the IRS. That’s just $10 — or 0.3 percent — down from last year. - Source: CNBC

No wonder many of us were surprised to find out we had to pay more taxes than last year, or we were to receive significantly less refund dollars. Some of the friends have to make up the tax without breaking the bank.

Overall, this tax season is not the most painful, only more painful!

What kind of "tactic" did they use? Is it legal? And how could these tactics potentially help us?

Asset Protection

What Do You Need to Know about Asset Protection.

May 1, 2019September 1, 2021
by Duo Zhou

Do I need asset protection? How much do I need to plan? When should I consider it?

There’s a gambling saying, “If you want to be a winner, you have to walk away from the table a winner.” One time-honored method of reaching this result is to systematically take your chips off the table as you win them, so that your potential for losses stays small.

So the answers to the questions are simple, “Depends”. You have to consider two main factors: the value of your assets and your risk.