Losing Money Sucks. Time For Asset Protection with Doug Lodmell - 138

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 30 October 2017

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Asset protection attorney Doug Lodmell has the secrets to keeping your money safe in the event of a lawsuit. Social Security benefits and 401(k) contributions are going up, but the 401(k) thing may also be a nightmare. Al’s got 6 myths about freezing your credit in the wake of the Equifax double debacle, and the fellas answer your emails on when to take RMDs, family real estate entanglements, and how not to self-deal in your Roth IRA, because that’s illegal.

Transcript

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0:00.0	When does this become relevant?
0:01.3	I mean, when should I even be thinking about it?
0:03.0	The answer is, is the minute that the thought has crossed your mind,
0:06.8	wow, it really suck to lose this money.
0:09.5	At that moment, whether that's 100,000 or a million.
0:13.2	A hundred grand.
0:14.2	If I've got a quarter in my pocket, I'm thinking it would suck to lose that money.
0:17.5	Today on Your Money, Your Wealth, Asset Protection Attorney Doug Laudmel tells Joe and Big Al the secrets to keeping your money safe in the event of a
0:24.3	lawsuit. Social Security benefits are going up. 4-1K contributions are going up. But Joe is
0:29.1	practically foaming at the mouth on the 401k thing because it may also be a nightmare. Al's got
0:33.8	six myths about freezing your credit in the wake of the Equifax double debacle,
0:37.8	and the fellas answer your emails on when to take RMDs, family real estate entanglements,
0:42.3	and how not to self-deal in your Roth IRA, because that's illegal.
0:46.3	And Al snoops into what Joe does during his lunch break, only to find out that they're seeing the same shrink.
0:51.3	Now, here are two guys who definitely need therapy, Joe Anderson's
0:54.1	CFP and Big Al Clopline CPA.
0:56.3	Right up the bat out increases in our 401k savings next year.
1:03.0	Well you are right about that Joe. I think as it just announced this last week that
1:08.0	your 401k you'll be able to put a little bit more money into it. A couple bucks, 500 bucks?
1:12.6	500 bucks, yeah.
1:14.6	So right now it's $18,000 per person and you'll be able to put in 18,500 per person next year, 2018.
1:22.6	Remember, it's still 18,000 this year, and don't forget to max out your contribution if you can't afford it.
	...

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