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Radical Personal Finance

739-Friday Q&A: Socializing Children, IRA Taxation for Ex-US Citizens, Foreign Corps, Private Businesses, Etc.

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 14 August 2020

⏱️ 121 minutes

🧾️ Download transcript

Summary

It's Friday! Today, we cover:

  • 9:00 How to socialize children when stuck at home?
  • 22:27 How are IRAs Taxed for US citizens who renounce their citizenship?
  • 38:18 How should we set up foreign corporations for US citizens moving abroad?
  • 50:00 How should I go about looking for a financial advisor?
  • 59:09 How can I run a business with total privacy?
  • 1:22:51 Where does media production go from here?
  • 1:35:00 How can a retirement-age couple with $130,000 decide where to put their money?
  • 1:47:21 Should I put my new house into a trust?
  • 1:53:47 Which home security system should I install in my new house?

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Radical Personal Finance a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now,

0:07.0

while building a plan for financial freedom in 10 years or less.

0:10.0

Today is Friday and that means live Q&A, but would you believe it?

0:13.2

I've lost my music on my computer.

0:16.0

And so I am unprepared here starting a live Q&A show without music.

0:21.9

But I got one, two, three, four, five four five six seven colors on the line so

0:25.0

it promises to be a a busy a busy podcast no matter what

0:30.0

oh hey someone just just just jumped on so it's gonna be a good fun day of Q&A. I want to begin

0:34.8

today's show though, before going to the questions, I want to begin today's show with a short

0:39.1

apology. The most recent show that I released on the podcast prior to this show.

0:44.7

I did an interview with a man who is quite an interesting guy,

0:49.2

extraordinarily provocative, controversial, etc, but very interesting, and who was able to build wealth very, very quickly.

0:56.8

But he has built his wealth primarily in a version of the

1:05.0

Pornography business and the webcam business.

1:06.0

I try very hard.

1:07.0

I try very hard to keep the show interesting.

1:10.0

I try to keep it a little bit radical,

1:12.0

a little bit edgy. I don't do edgy for the sake of being edgy,

1:15.0

but I'm not scared to talk about difficult things.

1:17.0

And I'm fascinated by money, and I'm fascinated by how it works in different circumstances and situations.

1:23.8

And when I recorded the show and I thought about bringing him on and when I released the show,

1:29.6

I thought, okay, well this will be a little bit edgy, but what I'll try to do is I'll try to by the by the

...

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