Radical Personal Finance

Friday Q&A today!

  • 1:54 Should I sell my cryptocurrency to pay off my IRS debt?
  • 10:30 How should I readjust my investments to plan for future economic uncertainty?
  • 26:09 How should I think through my finances in the midst of possible divorce?
  • 59:46 What do I need to do with my US-based investments while I move to Spain?
  • 1:08:00 My wife and I are having a baby and are interested in birth tourism. How should we analyze the possibilities?

Enjoy!

Joshua


If you care about asset protection planning, there's hardly any reason for you to own an asset in your own name. So, you'll have to get used to titling asset in slightly different ways.

Today, I teach you why and how.

Joshua


When I ask people about their goals, about 80% of people tell me they want to travel when they retire. And yet, very few people actually follow through and travel!

Why?

Of course there could be many reasons. But if the cost of traveling is keeping you at home, I want to help you.

In today's show, I'll share with you some ideas and strategies to travel the world on the cheap.

Enjoy!

Joshua

Direct download: RPF0646-How_to_Travel_the_World_On_The_Cheap.mp3
Category:podcast -- posted at: 11:10am MDT

In today's show, I'm going to teach you how an average guy can build a $165,000,000 estate by choosing not to retire. And I'll tell you a bunch of reasons why that would be great for you to plan for (even though you're simultaneously working towards financial independence in 10 years or less).

Enjoy!

Joshua

Direct download: RPF0645-The_Power_of_Choosing_Not_to_Retire.mp3
Category:podcast -- posted at: 3:38pm MDT

This is one of the most important questions you can think about. And don't be scared to change your answers as you learn and grow.

Joshua


A listener has a car with a blown transmission and is trying to decide whether to repair it or replace it. Here's my advice!

Joshua

Direct download: RPF0643-Should_I_Fix_My_Broken_Car_or_Replace_It.mp3
Category:general -- posted at: 3:40pm MDT

It's Friday! Today, we discuss:

  • Taking the Foreign Earned Income Exclusion
  • How Should You Think About FIREing Yourself From A Big-Money Job

Joshua


Here's the link: https://mobile.twitter.com/USATODAY/status/1125891810595954688

Read the conversation and form your own opinions.

Joshua

Direct download: RPF0641-1500_a_Month_On_Non-Essentials.mp3
Category:podcast -- posted at: 1:53pm MDT

Today, I tell you the story of the Accidental Millionaire and a few lessons for both of us.

Enjoy!

Joshua

Direct download: RPF0640-The_Accidental_Millionaire.mp3
Category:podcast -- posted at: 2:54pm MDT

It's Friday! Today we discuss:

  • International healthcare options
  • Avoiding wealth taxes
  • Second passports for children
  • And more!

Joshua

Direct download: RPF0639-Friday_QA.mp3
Category:podcast -- posted at: 3:03pm MDT

Wages provide you with the financial fuel you need to build wealth. So it absolutely stinks when those wages are sucked up by your creditors in wage garnishments. So how can you protect your wages and keep them for yourself?

That's what we discuss today!

Joshua


One of the most fundamental decisions you can make in life is to marry or not to marry. If you marry, your life, your budget, and your career will look dramatically different than a peer who remains unmarried.

Marriage can be one of the biggest blessings to your life, resulting in greater happiness, better health, a higher income, and more wealth.

Marriage can also be one of the greatest curses you can experience and it can devastate your emotional state, your physical health, your career, and your wealth.

So, you need to choose wisely.

In Part 1 of this series, I discussed various ways that you can prepare yourself to be attractive to an excellent wife.

In today's show, I do my best to give you an honest assessment of the risks involved so you can choose whether you desire to marry or to remain unmarried.

I hope it's thought-provoking.

Joshua

Direct download: RPF0637-How_to_Find_an_Excellent_Wife-The_Decision.mp3
Category:podcast -- posted at: 2:34pm MDT

If you're a US citizen who earns $500,000 or more, who is not willing to renounce your US citizenship, and who is involved in business and investing, you should seriously consider moving to Puerto Rico.

Joshua

Direct download: RPF0636-The_Case_for_Moving_to_Puerto_Rico.mp3
Category:podcast -- posted at: 10:26am MDT

On Fridays we do Q&A! Today:

1:20 How can I effectively move from New York to Florida in order to end my tax residency?
17:20 What should I do with the life insurance I'm offered at work?
23:00 How do you advise someone to develop an overarching investment philosophy?
48:05 Should I put money into a 529 plan for my not-yet-conceived children?

If you'd like to join me next week, go here: www.patreon.com/radicalpersonalfinance

Joshua


Today, I'll teach you how a 25-year-old $100,000-earner could increase their estate by $90,000,000 by simply moving outside of the United States.

Enjoy!

Joshua

 

Direct download: RPF0634-The_Case_for_Moving_Outside_of_the_United_States.mp3
Category:podcast -- posted at: 1:18pm MDT

One of the most effective things you can do when trying to figure out how to build wealth is to find ways to save big money. Fast. And since Americans collectively spend more on taxes than housing, food, and clothing—combined—you should start by trying to save money on taxes.

Today, I give you my case for why you should consider moving to a No-Income-Tax state.

Enjoy!

Joshua

Direct download: RPF0633-The_Case_for_Moving_to_a_No-Income-Tax_State.mp3
Category:podcast -- posted at: 2:03pm MDT

Today, we continue our Asset Protection Planning series with a deep look at the Personal Property Exemptions. I've never heard asset protection planners give much attention to the Personal Property Exemptions. But that's understandable to me.

When dealing with the mega-wealthy, it's hard to see how the Personal Property Exemptions make any difference in terms of financial planning.

But, for a "mere mortal," I think there's a really good argument that the personal property exemptions can be really important.

Tune in to the show to hear why!

Joshua


As I recently finished my course on "How to Survive and Thrive During the Coming Economic Crisis," I was struck with how simple and feasible the individual solutions are, while how utterly impossible and difficult the collective solutions are.

Choose success and happiness by focusing on the individual solutions you can put in place in your own life.

Joshua

p.s., If you haven't yet, go check out my newest course!


1:20 Should I change my whole life insurance policy because my income is going down?
18:40 Why do you think Walmart has done more good for poor people than any non-profit organization?
30:00 How should I adjust my asset allocation now that I'm retiring?
42:40 Should I pay off my mortgage on my retirement house?
49:15 Where should I keep my medium-term savings?
52:00 How can I include real estate in my Permanent Portfolio?
58:00 How can I invest in the people in my community?
1:05:00 Can I use a private foundation for my wealth planning?

Direct download: RPF0630-Friday_QA.mp3
Category:podcast -- posted at: 12:00pm MDT

Yesterday, I released to you a discussion on the Federal Debt in the United States. That show should be your introduction to this problem.

But in thinking about it, I felt like it was incomplete. I wanted to present some useful materials, in audio format, for listeners who don't have a firm background in the fundamentals of the problem.

So I decided to go in-depth to try to lay out the problem very clearly.

This show is deep and difficult. It holds quite a bit of my reading to you--but also some interesting commentary.

If you're trying to understand the underlying, structural problems more clearly, listen to the show.

If you prefer reading, start with these two links:


We face a massive problem in the United States right now. Put simply:

  • We are borrowing more money than ever before.
  • There's no plan for us to borrow less money in the future.
  • There's [almost] no mathematically sound plan that can be created to have us borrow less money in the future.
  • No major, national politician is loudly, consistently talking about how we can spend/borrow less money.
  • Rather, there are loud, vigorous, and strengthening forces moving in the direction of borrowing even more money.

The government has only three sources of funds:

  • Taxation (bad for you if you earn money or have wealth)
  • Borrowing (bad for you if you're a citizen, not an investor)
  • Inflation (bad for you if you're a saver)

There's enough evidence for honest, careful people to predict the strong probability of future crises.

The problem is, we can't know when these crises will occur.

But it's time to start preparing.

Joshua

Direct download: RPF0628-Federal_Debt-The_Ticking_Bomb_that_No_One_is_Willing_to_Defuse.mp3
Category:podcast -- posted at: 9:56am MDT

Today, we continue the Asset Protection series with an in-depth look at health and education accounts. Specifically, we cover:

  • Health Savings Accounts / Medical Savings Accounts
  • Flexible Spending Accounts
  • Health Reimbursement Arrangements
  • Qualified Tuition Programs (529 Plans)
  • Coverdell Educational Savings Accounts
  • UTMA / UGMA accounts

1:45 - Is it moral to support the current capitalist system of economics?

32:20 - How can I figure out how much umbrella liability insurance to purchase?

39:00 - Does having a higher umbrella liability insurance policy make you the target of a lawsuit?

46:05 - I want to buy a house but I'm in the middle of paying off debt (on Dave Ramsey's Baby Steps plan). Should I pay off the debt first?

Direct download: RPF0626-Friday_QA.mp3
Category:podcast -- posted at: 4:50am MDT

1:00 - Should I roll my 401(k) over to my new job or into an IRA?

11:30 - How should I prepare for a meeting with an estate planning attorney?

17:55 - How should I decide to indulge myself with a luxury expense?

35:45 - Life insurance advice for a newlywed couple.

48:05 - How can I maximize the value of my business for sale?

Direct download: RPF0625-Friday_QA.mp3
Category:podcast -- posted at: 9:47am MDT

The future will be one of the following:
1. Same as now or better
2. Similar to a recession
3. Similar to a depression
4. Similar to mad max
5. Void of humans due to asteroid hitting earth or similar calamity


2:00 - Life insurance advice for a recently married husband
6:15 - How can I make a back-door Roth contribution without being subject to the pro rata rule?
11:35 - How can I protect the money in my taxable brokerage accounts?
20:50 - How can I optimize my tax situation as an expat living in Bermuda?
47:20 - I live in China and am returning to the USA. What should I do with my money?
50:25 - How should I balance paying off debt with real estate investment?
1:03:05 - How can I invest for my 15-month old daughter?

Direct download: RPF0623-Friday_QA.mp3
Category:podcast -- posted at: 1:57pm MDT

In this episode of the Asset Protection Series, we do a deep-dive into annuities. Entry-level stuff at the beginning and some extra, hard-core bonuses at the end.

Joshua


1:20 - How Can I Invest in Distressed Mortgage Notes Inside my Roth IRA?
8:05 - Should I Pursue a Chartered Financial Analyst Credential for My Own Investment Knowledge?
17:00 - Should I Contribute More Money to a Roth 401(k) than a Traditional 401(k)?
38:15 - How can I Balance Personal Privacy and Functionality in Building My Business?

For reference to any time-dated commentary, this show was recorded on 12/21/2018.

Direct download: RPF0621-Friday_QA.mp3
Category:podcast -- posted at: 11:09am MDT

This is a recording of an interview I gave for "In The Rabbit Hole."

ITRH: E272: The Truth About Money and Preparedness

Originally published: November 12, 2018

https://www.intherabbithole.com/e272/

Direct download: E272.mp3
Category:podcast -- posted at: 12:00pm MDT

1:25 - I just got married. What financial planning should I do now?

39:35 - My employer offers a 401(k) with no match. Should I participate?

55:35 - How can I save for my child's college education with a 529 plan or with a Roth IRA?

For reference to any time-dated commentary, this show was recorded on 12/20/2018.


In Episode 616, I argued the point that if missing one paycheck is a problem for you, you're behaving stupidly. My guest on today's show took umbrage with my commentary on Twitter. So invited her on to discuss!

Enjoy,

Joshua


Chris Moody and I have both spent the last 6 months traveling the width and breadth of the United States with an eye toward understanding the current moment. In this podcast, we discuss our findings.

  • Life Opted Out www.instagram.com/lifeoptedout 
Direct download: RPF0618-Reflections_on_the_State_of_the_USA_From_Two_Travelers.mp3
Category:podcast -- posted at: 3:24pm MDT

1:45 - How can I give nice gift to people who are poorer than I am without creating a power imbalance?

15:20 - Can I contribute my salary into a 401(k) plan for my wife in order to maximize our retirement account contributions?

28:05 - How can I protect my non-qualified investment accounts that are exposed to the claims of creditors?

44:30 - I don't "need" term life insurance because I'm financially independent. Should I still buy some?

51:00 - I'm following Dave Ramsey's baby steps and am almost out of debt; should I store up my emergency fund in a Roth IRA?

56:00 - I want to buy an investment that will pay for my new car instead of just burning all my cash on the car. How do I do that?

(For the context of any time-relevant comments relating to current events, this Q&A was recorded on 12/19/2018.)

Direct download: RPF0617-Friday_QA.mp3
Category:podcast -- posted at: 10:07am MDT

Stop behaving stupidly with your money.


Today, I share my advice for young men on how they can find an excellent wife. In short, you must become an excellent man. That's the task. Here are some ideas on how.

Joshua

 

Direct download: RPF0615-How_to_Find_an_Excellent_Wife-The_Preparation.mp3
Category:podcast -- posted at: 10:42am MDT

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