#395 Asset Protection Level 3 - Retirement Accounts and More!

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 18 August 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this weeks episode of the Main Street Business Podcast, Mark and Mat break down the basics of level 3 asset protection. This is the third episode in a three part series, covering levels 1-3 in asset protection. Level 3 is full of valuable nuggets! This is a huge topic. These are essential basics that everyone building wealth should know and understand. To learn more or submit a question for our next Open Forum show, visit: https://mainstreetbusiness.com/ Grab my eBook 30 Unique Strategie...

Transcript

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0:00.0	You may think you're above it. You want her to go straight to the advance, level three.
0:03.2	There's $35 trillion in retirement accounts in the U.S.
0:06.3	So, Matt, you want to tell us how retirement accounts are really asset protected?
0:10.7	Welcome everybody to this week's episode of the Main Street Business podcast with yours,
0:14.5	truly Mark Kohler and the amazing Matt Sorensen.
0:18.0	That's your cute.
0:18.5	Yeah, baby. This is, that's my cue. This is level three. Asset protection. This is the final episode, the asset protection series. We're going to get into it fast here today. Go through the last items. We think you need to know. This is advanced. Level three. Be ready. Yep. And the interesting thing is a lot of the asset protection sales pitch company gurus,
0:39.6	whoever, which are typically not lawyers on the front lines, start with level three. That's what they
0:45.2	make their most of their money on. So they want to sell that to people that aren't ready for it or need it.
0:50.0	And then the basics, level one and two, they just brush over because they don't make money there, which is really where a lot of the simple, affordable, and foundational strategies need to start.
1:01.4	So if you haven't listened or watched level one or level two, asset protection, please do.
1:07.8	Trust me, you're going to find a lot of golden nuggets in level one and two
1:11.2	okay yeah a lot of golden nuggets to be mined there right out of the game well let's jump
1:18.9	in you want to hit let's go retirement accounts i mean you know what i want to start with you want to
1:24.0	make sure you get to keep yours yeah and a lot of people think how do I protect my IRA or my 401K from this deal?
1:30.5	I need an LLC to protect my retirement account or need this.
1:33.9	Well, there's a little known person in this realm of planning known as OJ Simpson.
1:41.3	So, Matt, do you want to tell us how retirement accounts are really asset protected
1:45.1	so that people have the truth?
1:46.8	I think the first thing just conceptually, if you didn't know about asset protection
1:50.6	on retirement accounts, know this. That is one of the best places to have your money
1:56.1	and your wealth built if you're going to get sued. You want to have money in retirement
	...

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