The one thing that’s universal among the wealthy is they protect their assets.
The U.S makes up 4.4% of the World’s population, 80% of the World’s lawyers, and 96% of the World’s lawsuits. So irrespective of whether you have a home, a business, a portfolio of stocks, or even just a bank account, you are one bad lawsuit from losing it all. Here I show you the specific steps the wealthy 1% use to protect their assets; tangible tools and strategies you too can use to make sure you keep the things you’ve worked so hard, for yourself and your family.
Breakdown:
00:00 Why protecting your assets is important?
01:20 What's the difference between Common Law and Statutory Law?
03:23 1. Buy as much Umbrella Insurance as you can afford
03:52 2. Change your Beneficiary Designation Form
05:02 3. Create a Will
06:30 4. Contributing to a 401(k) Plan ⭐
08:06 Traditional IRA as an alternative
09:40 5. Buy a Residential Property
11:24 6. Set up a Corporation
14:43 7. Keep your assets in Trust(s) ⭐
15:35 Family Living Trust
17:39 "QPRT" Qualified Personal Residence Trust
19:34 Life Insurance Trust
20:44 Grantor retained Annuity Trust
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