602-Asset Protection Planning for Mere Mortals - Part 2 - The Morality and Legality of Asset Protection
In this episode of the podcast we tackle these two questions:
- Is it legal to engage in asset protection planning?
- Is it moral to engage in asset protection planning?
Short answer? Yes and yes. If that's enough for you, just skip listening to this episode. But if you'd like a bit more texture to the discussion, enjoy the podcast for a discussion of the legality and morality of asset protection planning.
Joshua
p.s., if you missed Part 1 of this series, start there.
601-Asset Protection Planning for Mere Mortals - Part 1
Here at RPF, I strive to keep you focused continually on the Radical Personal Finance "Framework For Wealth." This is a helpful framework for you to use to organize the financial planning suggestions you are given as well as the specific actions you can take to build your wealth as you work towards financial independence.
(After all, it's action that counts. Only action leads to change. Thoughts and philosophy are nice, but you have to act.)
That Framework for Wealth is quite simple:
- Increase Income
- Decrease Expenses
- Invest Wisely
- Avoid Catastrophe
- Optimize Lifestyle
Today, we focus on Avoiding Catastrophe as we broach the topic of Asset Protection planning.
There are many ways we can conceive of "Asset Protection Planning." The common use of the term involves legal planning that helps to insulate various assets from the legal claims of creditors through the use of exemptions and legal entities such as corporations and trusts.
I'm fine with this being the primary use of...
593-Lifestyles of the Frugal and Obscure
The Lifestyles of the Rich and Famous might make good TV but it's the Lifestyles of the Frugal and Obscure that makes for wealthy people who keep their money.
Joshua
- If you're interested in learning how to borrow money safely and never paying interest with credit cards, go buy my new course! www.radicalpersonalfinance.com/creditcardcourse
588-Credit Card Loans Can Provide a Way to Privately Purchase Goods and Services
One of the most under-appreciated aspects of credit cards is the significant privacy they can afford you. Listen to the show for details.
Remember, please sign up for my new credit card course: www.radicalpersonalfinance.com/creditcardcourse
Use coupon code "CREDITCARDTEN" to save $10 off the price. (Good until 10/15/18.)
Thank you!
Joshua
579-Why and How to Protect Your Garbage from Snoopers and Thieves
Articles referenced:
524-Why You Shouldn't Use Your 401(k) Money To Pay off Credit Card Debt When You're Unemployed
Today we answer this question: "I have accumulated $6,000 in credit card debt from a period of unemployment; should I use some of the $10,000 I have in my 401(k) to pay it off?"
Enjoy,
Joshua
- Please support the show: www.RadicalPersonalFinance.com/patron
Out and About: Joshua's Financial Privacy Advice on the Complete Privacy & Security Podcast
(My interview starts at 7:30 into the show.)
I recently gave an interview to the Complete Privacy and Security Podcast on the topic of financial privacy. I think it was a really good interview.
This interview was originally published on December 8, 2017 here: https://operational-security.com/cps-podcast-e058-financial-privacy-security/
--
SHOW NOTES
INTRO
Motherboard Guide to Not Getting Hacked
MAIN TOPIC
Joshua Sheats of Radical Personal Financejoins us to discuss:
– Why being financially stable (and ideally independent) is an important component of personal privacy
– Joshua’s Stages of Financial Independence, and what each of them means:
Stage 0: Financial Dependence
Stage 1: Financial Solvency
Stage 2: Financial Stability
Stage 3: Debt Freedom
Stage 4: Financial Security
Stage 5: Financial Independence
Stage 6: Financial Freedom
Stage 7: Financial Abundance
– How to pickmake an accountant or financial planner who respects your financial privacy & security –...
503-Tools and Principles to Help You Fight Nasty With Your Creditors and Win!
I really hate it when I see people bullied. And I especially hate to see debtors bullied by unethical debt collectors.
In today's show I share with you some tools, tactics, and techniques and knowledge to help you stand up for yourself in the face of an onslaught of bill collectors.
I hope these help you.
And, if you don't need this type of help, I hope these ideas help you to help someone else who does.
Joshua
- Try Hello Fresh! www.HelloFresh.comand use coupon code "RPF30" to save $30 on your first week of deliveries!
- Text of the Fair Debt Collection Practices Act
- Recommended book: "Solve Your Money Troubles: Strategies to Get Out of Debt and Stay that Way" from NOLO press
- Consumer Credit Counseling Services https://www.credit.org/cccs/
