I am Rich Yet Own NOTHING, Here’s What The Government Won’t Tell You About Wealth

[@KenMcElroy]

If you find this video valuable, please consider sharing it with someone who could benefit from it. Your support helps our channel grow and motivates Ken to keep making videos like these. Thank you

[@Siya-77-7]

Hello sir. My name siya, from India. I need your help. Lot of debt in my life. Now I am struggling in Dubai. I need a financial help. Please believe me sir 🙏🙏🙏🙏🙏🙏 trust me

[@Siya-77-7]

Please help me sir

[@Siya-77-7]

Please help me sir 🙏

[@Siya-77-7]

Sir is it my fault to be born poor?

[@youmayberight2434]

Thank you.

[@Internal-m.d.]

For busy people: 1) have an insurance 2) don’t own anything on your own name 3) separate yourself from your assets by placing everything in LLC - transfer the title on the LLC 4) how many llc? - don’t put 10 properties in one LLC. Usually 2 per one LLC. 5) personal car don’t have to be in the llc, put only if the car is a muscle car or old timer - again you have to transfer the title into the LLC.

[@klecoxs2]

Thanks

[@RedEyeification]

What is an LLC ?

[@Internal-m.d.]

@ It’s company type with limited liability. LLC - Limited liability company. Make sure you transfer the titles of your assets into the company, otherwise it’s worthless.

[@vss963]

Thanks. As far as cars are concerned, they gave an example with a Ferrari ("exotic") or an old (but sought after) type of car (such as a rare Porsche). Muscle cars are probably not worth the trouble as they will lose their value even faster than some luxury brands do.

[@RedEyeification]

@@Internal-m.d. Thanks 😊

[@Jakepattison42]

It's a bit annoying and unfortunate. When i was born, the national debt was $2,150 per person. Now it's over $100,000 per person. And I'm not even that old. It's truly alarming and best advice get out of debt, make regular investments and be debt free and financially stable.

[@jeffDwyer1]

Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert.

[@Pconradsmith]

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my Financial advisor are working on a 7 figure ballpark goal, tho this could take till 2025

[@CindyValenti]

This is definitely considerable! think you could suggest any advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@Pconradsmith]

Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@CindyValenti]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@dinglesdingler1211]

If youre only forming LLCs for the purpose of holding your assets, any good lawyer can get those entities disregarded in court. Its called piercing the corporate veil. 2nd, for the price of fili g your required annual taxes on each LLC, you could probably buy enough insurance to cover your original loss.

[@KennyG944]

Invest in foreign assets. Harder for them to get their hands on 😊

[@troibandy2139]

But the trick is going to be for the lawyer to know who the members of that llc are before attempting to pierce that veil. Furthermore, if that llc is controlled by a foreign entity or put into a foreign trust in the Cook Islands, Nevis, or Belize, then it will be nigh impossible for a lawyer no matter how good to get at those assets.

[@davidrpriest]

Asset Protection is not expensive. Getting sued and losing assets is VERY EXPENSIVE!

[@stevearcher6100]

Especially when considering the amount of fraud perpetrated in these sorts of claims, as well as the parasitic nature of the sorts of attorneys that enjoy a high income at the expense of insurance customers. Protect yourself in all ways at all times. The law is seldom your friend.

[@Misiracaltudamecekas-qw8xo]

doubled up after pandemics try to afford

[@cometcal2]

There's expensive and expensi-ver

[@deepakhandique9187]

What's the point of living in such a stupid society or country where the Law itself is used to do Un-Lawful activities... welcome to the so called Secular, Safe, Civilised, Democratic, Lawful, Stupid Countries of the world, where their own citizens have to live in fear all the time and help make the Insurance, Realestate, Education, Law, Pharma, and Defence Equipment Manufacturing Companies Grow Richer by Sucking Blood of their so called own Citizens 😂😂😂😂

[@cometcal2]

@@davidmack4185 I may be wrong but Giuliani might have been able to delay the punitive fines.

[@thomasbetts01]

Inflation is caused by the Federal government spending more than it earns, because they just print more money to make up the difference. To solve inflation, reduce wasteful government spending. Your tax dollars should be spent well, not poorly.

[@ThePatrioticAmerican4L]

I totally agree! It’s frustrating to see how government spending can lead to inflation, especially when they just print more money to cover the gaps. Cutting down on wasteful spending would definitely help ensure that our tax dollars are used more effectively. It’s all about being responsible with our resources.

[@ANDYPADOVA]

I hear you on that! It's really important to be mindful of how government spending impacts inflation. If you're looking for more insights on managing finances or investments, consulting with a CFA could be a great way to get professional advice tailored to your situation. They can really help navigate these complex issues

[@theTeslaking]

I totally get what you’re saying! It’s so crucial to keep an eye on government spending and its effects on inflation. By the way, if you’re considering consulting a CFA, do you have someone in mind? I’d love to hear their name.

[@ANDYPADOVA]

Oh, nice! My CFA is Sharon Ann Meny. She's been really helpful in guiding me through my investment strategies. Have you worked with any CFAs before?

[@theTeslaking]

Nah I haven’t. I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@brianwhitehawker1756]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[@lucaswilliams9992]

The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.

[@Jadechurch-ql3do]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@yeslahykcim]

impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now

[@Jadechurch-ql3do]

Credits goes to "Mary Elizabeth Fugelsang" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@geraldt331]

I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@RealityTrailers]

Ahh, an infomercial selling a book. I use to get suckered into... I mean, watch many of those back in the day.❤❤❤

[@zedbou5040]

Exactly

[@DerekKwan]

I wish someone would address these 3 questions: 1. How many LLCs would you get based on number of doors/SFHs or based on equity value per LLC. 2. Costs to manage and do taxes on all those LLCs. 3. How to move your title/loan to your LLC without triggering your bank to call your loan bc your loan terms/owner changed. Maybe a good follow up video?

[@pike0825]

SAME. Not yet knowing answers to those 3 questions is what’s stopping me from moving assets to an LLC

[@ShaniaAtherton]

Google it

[@HildaRealtor]

1. it is better to put one property in one llc, this way, when one gets lawsuit, others are not in danger. 2. you can setup series llc, it is cheaper to set up and you only have to file one tax return for all the properties. 3. you can contact your mortgage company/ bank, explain to them that it is better protect your assets. They know it is, so most of the time they approve it. however, I could be wrong, it is better for you to do more research. Hopefully, an real estate lawyer can help answer your questions better!

[@MissBellaMe]

@@HildaRealtor this is actually a really good answer, however i would make two tweaks (i'm a lawyer). for 2., i would do a series LLC as well, but have each series be a cap (series 1 is worth $250k, series 2 is worth $250k, etc.). that way all of your money isn't tied up into one series. and for 3., you can put the homes in a trust naming you as the beneficiary.

[@genxmurse7019]

How about putting your assets in another family member's name?

[@JefferyDuns]

So how exactly can we guard against the coming financial reset Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $110k stock portfolio.

[@RobbieNixon-d1w]

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

[@Ji-Min-j7b]

I agree, having the right plan is priceless. My portfolio is well-suited for any market and recently doubled since early last year. My CFP and I are aiming for a seven-figure goal, which might take another year to achieve.

[@PhilipDunk]

@@Ji-Min-j7b Great gains! Can you share your CFP details? I'm gaining more cash flow from my job and want to invest in stocks and alternative assets to build wealth.

[@Ji-Min-j7b]

My CFA "Sophie Lynn Carrabus", a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@PhilipDunk]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

[@flipsharkz34]

Regarding personal property, I think looking at a personal property trust really fits in too. Anonymity is key, beneficial interest would obviously be an LLC.

[@bernardking2749]

Wow alot of legal and insurance advice was offered without any disclaimers. This is definitely an oversimplification of both the legal and insurance procress. The amount of liabilities ken and this gentlemen took on in one video is stunning.

[@gillean2]

Can't people search state records for owners of LLC's? If a person owns an LLC, can't they go after the LLC?

[@Denniss7420]

@@gillean2 Nope. That's why it's called a Limited liability. When I worked at a car dealership.......the owners had their house under the ownership of the corporation or LLC. Their vehicles were all dealership owned vehicles. An LLC is an entirely separate legal entity from its owners.

[@dq7143]

The disclaimers are stated in the shaded section just above the comments.

[@Tchild2]

@@Denniss7420 If the LLC is sued, you are personally protected. If you are personally sued, the LLC assets are not protected. A creditor with a judgement can pierce the corporate veil and take those LLC assets.

[@JoshuaTrinityWolf-dc4up]

Last year I had these 3 neighbors that my wife and i drove to 8 stores to get the cheapest groceries.Then it hit me that I only have 2 million liability and the 24 year old could cost 5 million to care for her for 60 years.I also remembered my scammer aunt that was in a minor accident in my uncles car and she made 15 claims that went on for 2 years. I said no more rides and saved $ 1,500. a year as riders can't pay for anything or you become an uninsured taxi.

[@MidnightOilsRestoration]

😂

[@spokebloke1]

Our insurance system in Australia is much simpler. We are required to pay into a pool for personal injury claims as a part of our registration, so no one is out of pocket for the costs of someone else's medical expenses in a motor vehicle accident. And in terms of car insurance, most Aussies have comprehensive insurance, that pays for damage to any other vehicle, property, fences, etc that are damaged, up to about $20M. Another option is third party property, fire and theft insurance, where your car isn't covered if you cause an accident, but other cars are, and if your car is stolen or catches fire, it is covered.

[@murphthesurf3409]

For not much money, you can get an umbrella policy that will increase liability limits substantially on all your policies.

[@onlinestorytime6875]

Be careful when transferring the title as this may trigger the due on sale clause.

[@mahalia_kendrick]

I turned 40 today. I meet with 2 financial advisors earlier this year who estimated my net worth between 1.6 and 1.8 mil. I live in the middle of nowhere, work a bluecolor job in a very poor state, have an associates degree from a votec school. Anyone can do what I did. Most of my net worth is my 401k. The next chunk is my paid off house. I haven't had debt in years and live well below my means. I dont lose sleep over the housing market or stock market swinging...

[@Jessrobbie]

BOOM! This is the way. Well done ma'am, seriously. If it doesn’t make sense to you, never invest in it. And the number one investment of all time (according to Buffett) is you!

[@Freddyjoh16]

Sounds like half a story. How do you break down 1.8 mil just by working a normal job at 40? Must be through investments, or untold benefits you received. 1.8 mil not something ‘anyone can do’ with a regular job and no particular benefits to start off with.

[@mianortum]

I'm celebrating a $30k stock portfolio today. started this journey with 6k,I have invested on time and also with the right terms now.

[@devoncampbell275]

I work in IT as freelancer and earn well today, but have been salaried before. I know for fact that it is not possible except when going independent or making risky investments.

[@elizabeth5623]

​mianortum Damn that's huge, how do you make that much weekly? I'm 37 and have been looking for ways to be successful, please how???

[@bbmw9029]

If someone has a judgement against them, and they've put their assets in an LLC where they are the sole member, the plaintiff may not be able to go after the assets in the LLC directly. But what stops them from going after the members ownership interest in the LLC?

[@andrej1923]

Had the same question. From what i understand they can pursue your interest in the LLC by foreclosure or demand. Not sure this video explained how the rich own nothing. You do own something. I’d be curious if they can explain how to shield those legal interests in an LLC or land trust

[@andrej1923]

Maybe the point is to hide it from public record so that the plaintiffs counsel can’t find it and won’t bother due to lack of perceived value ? But in a court case during discovery i assume you would be mandated to submit a personal financial statement subject to perjury

[@bbmw9029]

@@andrej1923 Very likely.

[@japeters11]

It varies by state, so you have to consider the laws where you form the llc.

[@randallcotner2155]

Agreed, this takes your name off the assets, but you still have beneficial ownership interest in the LLCs. By owning "NOTHING," you could not own any beneficial interest in any entity. In part two of this video, will you be walking us through exactly how we achieve owning "NOTHING?"

[@williamtiffee3799]

Query: "Unicorporated." (The ONLY way to "own nothing" with true anonymity... is to use Trusts, vs. corporate entities, in the age of the internet, etc.) And that is precisely HOW every dynasty known was built, in the last several hundred years.

[@ShoshanaBrand]

They do it on rare occasions only if the attorney decides to go on a trial and if the damage is catastrophic. Nobody wants a trial; it's expensive, and long, and you may not get a penny. In most car accidents they just activate the insurance, and everyone should have a very high "uninsured motorist" because this is the most helpful one.

[@kanunashini7019]

The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance

[@artbyddp]

gkys

[@Sebaa1337]

@@artbyddp every video about money is full of these bots every time so annoying

[@artbyddp]

@Sebaa1337 On some, "we've been trying to reach you about your cars extended warranty."

[@SteveWiIIDolt]

Scammer spammer

[@commonsense3921]

Even those likes are a scam

[@BirdDogey1]

I have a friend who is an immigrant from Asia. He owns a multi million dollar home. He has several family members on his deed so his technical ownership is fairly small.

[@CamdenVanderlaan]

The BIGGEST LIE You've Been Told About Money is that it doesn't grow on TREES!! 😆

[@keithbellair9508]

It does for the certain people.

[@IdentityCrisis1581]

Money does grow on trees if you work for the lumber industry.

[@aircraft1650]

Money is printed on paper, paper comes from trees, trees grow to be harvested for paper and other resources. So money does grow on trees...just thinking

[@HarryCallahan-uf4ou]

Alnonds walnuts and apricots…well, ok not walnuts so much lol

[@KTS_85]

This lie was (and co to use to be) told to everyone so no one thinks about sweat equity.

[@theAmateurInvestorstory]

Your thoughtful insights into financial psychology are fascinating! It’s a unique angle that adds depth to the discussion.

[@silverechohawk5315]

Why not have the LLC buy the properties to save transfer fees AND never show a public record of ownership with the individual’s name? Skip buying in your own name? Also, which states disallow judgment renewals?

[@zonk1477]

I have heard there are issues getting a mortgage and other things as an LLC. So I assume people buy it in there name. And the bank resells your loans 100s of times so you quietly change the property over to the LLC. They won't notice it's only an issue if you tell the bank they get all weird about it.

[@Xtramedium1961]

In Europe the car insurance covers personal injury no limits, it’s illegal to drive without cover. Average cost $500 per annum same with house insurance

[@angieharris8015]

Do what OJ Simpson (and so many others do) did and keep your money in a retirement account. Oh and no one can trace your precious metals.

[@bannol1]

The lesson to take home here:”Don’t run a red light!” In other OECD countries you have to have third party property/personal indemnity insurance before they will even register your car. Usually that insurance guarantees a maximum payout of 20 million. Most (non-US) courts will not award damages higher than that anyway.

[@cyyber1]

As far as I know in Texas they can’t sue beyond the insurance limits unless there was gross negligence involved. Feel free to chime in.

[@MyCents-pm6qd]

You are correct. I was hit in an accident and the other party admitted fault (in Texas). You are forced into a choice, take the insurance payment or sue the party. You cannot do both.

[@cyyber1]

@@MyCents-pm6qd good to know thanks

[@emills1417]

I love your videos and advice that said, nobody is rich who lives in Mesa AZ. You can have a billion dollars but if your living in mesa you aint rich. Your infinite money glitch video is one of my favorites.

[@muhc8550]

This looks so much like a multi - level presentation

[@philipe6293]

Don’t forget that if you start an LLC there are periodic Secretary of State filings you must do as well as special IRS filings.

[@ChristopherAbelman]

Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60, therefore I need suggestions on what investments to make.

[@DaliaCohen2230]

You know Long-term investors know that the market and economy will recover eventually, and are well positioned for the rebound. Personally still going hard on this crazy market and I'm doing just fine. My portfolio currently up 43% right now. I am going to sit back and observe how this all plays out, adding more stocks at a time.

[@FinnBraylon]

On my end I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.

[@HildaBennet]

Interesting, Mind if I ask you recommend this particular professional you use their service? honestly right now i have quite a lot of marketing problems.

[@FinnBraylon]

Diana Casteel Lynch is her name. She is regarded as a genius in her area and works for Empower Financial Services.

[@HildaBennet]

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@user-ARK1547]

An asset protection Trust is a good place to park personal assets. Consulting a trusted estate planning attorney for your state and jurisdiction is a must to insure that you are not committing fraud hiding assets from liability lawsuits and creditors in the event of being sued for damages .

[@navajojohn9448]

Not good if the owner of the LLC(s) is exposed to judgements since the LLC is his asset.

[@Denniss7420]

An LLC is an entirely separate legal entity from its owners. The owners are partners.

[@jeffbrassard1268]

Hi Ken - why wouldn’t you use an irrevocable trust to protect assets from personal liability lawsuits?

[@MidnightOilsRestoration]

This is what I was wondering also

[@michaelpence468]

Umbrella liability policy. Won’t cost much if you combine home, auto, umbrella with same carrier. This is just a commercial for attorneys.

[@kyleevanston]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Miller.

[@stephaniebeddis8069]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@jadewashington7]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@HighlightsSerieATIM]

I'm new at this, please how can I reach her?

[@sole27ore]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@kyleevanston]

she's mostly on Instagrams, using the user name

[@koldcutter1]

Ok HUGE IMPORTANT FACTOR read your mortgage or deed of trust for a due on transfer clause before you transfer your house to the LLC. Your lender lent to you and not your LLC. That transfer could trigger that clause and your lender could demand the full repayment of the loan. The rate on a home loan with personal guarantees is much much higher.

[@motrock93b]

If a real estate property is transferred into an LLC in California, will it trigger a Prop 13 tax reassessment increase to current market value?

[@mpbreen]

This whole scenario starts out with a person who wrecks another person's life and then does everything they can to not help make the person whole. He even just says in passing the person was injured permanently.

[@jimross2101]

Au contraire, your LLC will not protect your personal assets if you are sued for neglect.

[@hermanmills5455]

in australia if the asset is in a trust you pay way more CGT than if it was owned in your own name.

[@ngana8755]

7:30 min: create an LLC then transfer the title from your name to the LLC.

[@lymi0130]

Respectfully, better advice would be to have a 1 million or higher PLUP added to your current insurance policy. Adding a personal liability umbrella policy(PLUP) cost on average about $2 a month and kicks in when you don't have enough Auto or home insurance. A 1 million PLUP is typically more than enough coverage for the average person but in the event that you have assets that greatly exceed a million dollars you can certainly get a plup for a higher amount than 1 million. It will still only cost you a few dollars a month and will protect all of your assets in the event that you are liable to another person for pretty much any reason. I have been an insurance for 18 years and that is really the best way to protect yourself and very easy, simple , and cost-effective.

[@BRichard312]

I couldn't get through this video. Here's the reality of life in the United States. The system is specifically set up principally to make money off of people's MISTAKES. This video underscores the importance of that issue from an insurance perspective. There are many other examples. If you make a mistake, ONE mistake, it has the potential to destroy you. You want to go have a few drinks with your friends at a happy hour that you might do only a few times a year? If you drive after drinking and get caught, that mistake will cost you thousands of dollars. Move through life being under-insured then make a mistake where that insurance is needed? You can go broke because you will be legally eaten alive in the court system. Marry the wrong person then get divorced? You will lose half your assets. Do you smoke? Are you addicted? You will eventually get cancer of some sort. Now you will be riddled with hospital bills, tests, and expensive medications leading ultimately to bankruptcy and/or death. The list goes on and on. I don't subscribe to living in paranoia, but making correctly defined decisions is really the key to living a sustainable and fulfilling life.

[@schoolnyc]

Insurance insurance insurance -Good lawyers and prenup. OJ had whole life insurance, can’t be touched even through it pays a lower dividend, and you can borrow off policy.

[@rodschmidt8952]

You specify the United States. Is there any system anywhere, where important mistakes do not have grave consequences?

[@BRichard312]

@@rodschmidt8952 in a liberally run government mistakes do not have consequences. In parts of California today, stealing, for example, is not being punished.

[@BRichard312]

@@rodschmidt8952 The principle point being made is that the United States has built a system that preys on social mistakes having been made. It's not that there are not typically consequences to mistakes, it's the parasitic impact that has been socially and economically connected to said mistakes. Such a system has a tendency to alienate people from their government and each other.

[@dq7143]

Get's you to wonder where hell is located.

[@TapioSusi]

Real wealth is measured in spirit, Glory to my Rod!

[@MiraSayam-g2v]

there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal

[@pomp4401]

It's still BS

[@joeshmoe9978]

🚨spam alert🚨

[@uselessvideo]

Bot. Don’t b fooled. Stay away.

[@davedashow2203]

The Bible is far greater.

[@captainchaos52]

​@davedashow2203 there are 10 laws in the Word and I'm not talking about the 1

[@nextari]

Unless you're in CA, an LLC costs about $50-$100 to create in 5 minutes, and $10-$50 annually to maintain. In what case would you not want a unique LLC for each asset?

[@bryan0359]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Liam🙏

[@emilymccord7063]

I invested $2,000 and the trade in one month making close to $20,000. I wonder where she got her analysis.

[@giselastefan2180]

Seeing my broker talked on KZbin, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024

[@carlosalberto54754]

I'm from Brazil 🇧🇷 I and two other of my friends tried her immediately we testified her performing wonders.

[@jordanmorris9663]

Thanks to my co_worker who suggested Mr Lucy Mary Liam to me

[@chrismadison5085]

Please how ?

[@lonewolf4252]

What about a Customer facing LLC, owned by a holding company that holds deed etc? Placed into a trust? Plus proper accounts for receiving rents, IRS acct for taxes, account for expenses, etc? Muscle car in trust?

[@TilSchweiger-i3f]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@Benjaminarmstrong684]

Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.

[@TilSchweiger-i3f]

That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?

[@Benjaminarmstrong684]

Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

[@muhc8550]

Look at GBIL. If you like it buy at the first of the month

[@joeshmoe9978]

🚨scam alert🚨

[@OttoMatieque]

If you own the LLC, can't a personal judgement go after that asset? It doesn't make sense that an asset you own would be shielded. Trusts on the other hand aren't owned by the beneficiary, so they do provide protection from personal judgements.

[@Vikturneer]

Kudos Ken. 43 here with a good investment plan that ensures steady income without any doubts I and my lovely wife are prepared for a well organized retirement. I started investing about a year ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.

[@Vikturneer]

It's totally far from luck. Sir Jonas Herman, a CFA has consistently outperformed the market ever since I got on his program. He has continued to put my $35k to good use with market driven strategies making me an optimal return of over $231k

[@Freddylone]

That's your view. In my experience, there is no such formula, it is nearly impossible to achieve success with investing. It’s all just gambling.

[@Roymysterio]

I'm green in investing. I work most of the week and barely have time to myself. I'd like to use mentorship. How can I get to him?

[@Vikturneer]

Hermanw jonas that’s his gmail okay

[@CamilaBadde]

Funny enough, I’m on his mentorship program too, although I feel the commissions are quite high but excellent service overall.

[@poshko41]

Never, ever, EVER carry state minimum liability insurance - especially if you have assets. State minimum in California is 30/60/15, which means if you carry those limits, your insurance will only pay $30,000 for each individual injured and not to exceed $60,000 total for all injuries sustained in an accident you cause. If you seriously injure even just the driver and the passenger with this kind of coverage, you can see how you'd end up in hot water fast. That third number, 15, represents how much your insurance will pay out for any damage you cause to someone else's property (i.e., $15,000). If you total someone's brand new car in a rear end collision, that $15,000 isn't likely to cover even half the actual cash value of most brand new cars - or barely even most used cars - on the road today. If your agent or the insurance company itself ever tries to talk you into lowering your liability limits to lower the amount of your monthly payment, just say NO. Carry AT LEAST 100/300/100, but preferably 250/500/250. If you own a home, look into umbrella insurance to take these limits even further.

[@paulbrungardt9823]

Question : I live in Colorado, my attorney did not set up LLCs, he did it as TRUSTS. Does this provide the same protection as an LLC ?

[@KikiAndJeffreyPearl]

I had the same question

[@Coast_to_Coast]

It may depend on the type of trust, but generally no.

[@paulbrungardt9823]

@@Coast_to_Coast Thank you -- but please give details & your background in law __ Thank you, from Colorado.

[@KikiAndJeffreyPearl]

@@paulbrungardt9823 I think if it's a revocable trust it's not protected. I pulled this from the internet: "While trusts can protect assets from lawsuits, not every type of trust offers lawsuit protection. A revocable trust, such as a living trust, will not fill that bill. This is because creditors can step into our shoes and invoke your power of revocation. That is not the case with a properly drafted irrevocable trust." You should ask your attorney

[@SheLoveSports]

This is my question too

[@Thewealthwarehousepodcast]

Love this content. We always encourage people to be well insured. People who say "im self insured" are just saying, "im going withput insurance." It just doesn't make sense.

[@Susanhartman.]

So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 56 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!

[@Grace.milburn]

Just buy low sell high. Stick with a good company by either not selling when it’s going lower and/or buying more at that time. Almost always the good well managed companies will come back strong at some point. The other is to get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@mikegarvey17]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@mariaguerrero08]

@@mikegarvey17Could you possibly recommend a CFA you've consulted with?

[@mikegarvey17]

Her name is “Izella Annette Anderson” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@ThomasChai05]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@sircarl56]

The courts generally require you to disclose all your assets when you’re being sued (unrelated to any single property). How can LLC’s protect from that? And what about assets held in a trust?

[@Millerj2450]

Damn, so do you think it's best for us to focus on index funds or individual stocks? I want to redistribute my 60k portfolio and I preferably want the asset class with the best return on investment.

[@Fred-w7t]

Index funds are a safer bet to start. They offer good diversification. But individual stocks could make you a fortune if you know how to go about it. Some people make upper six figures yearly from investing alone. But it's always a good idea to work with a financial advisor. It raises your chance of profit by a lot.

[@raymond-i2v]

Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.

[@raymond-i2v]

Jessica Lee Horst is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

[@7321janedou]

@@raymond-i2v😂😂😂😂😂😂😂

[@7321janedou]

@SarahJeffy😅😅😅😅😅😅😅

[@abhishek-prazapati]

In The Case of Rental Properties Series LLC is good. Create Different LLC required lots of Paperworks and cost high. Thanks Ken , i Shared your video in my network.👍

[@mattheusser1390]

This is bizarre. What rich person doesn't have an umbrella personal liability policy? Did this guy drive his car through a shopping mall or something? T-bone hit a bus?

[@ryangierman4421]

Yup. Most attorneys will just go after an easy and quick payout on the insurance and move on to the next easy payout. It is possible that one may decide to go for more but even then they can only put a lien on your property and can not collect if you don’t sell. Attorneys aren’t that patient

[@schoolnyc]

I think Ken alluded to he was drunk- if so you are sunk

[@Singlesix6]

From the drawing they were both on the wrong side of the road. Maybe they weren't in the U.S., maybe both roads were one way streets. Who knows

[@Pdmc-vu5gj]

Because the story isn't true

[@Veronica-vt9tp]

Recently divorced, no debt, paid house, no kids. Do I need an LLC, I’m 67?

[@balirameditor7000]

Wow, I'm impressed with this video! Talk about Cryptonica in your next one, I've been providing liquidity for several months and everything is great. I'm interested in your opinion.

[@richardadams6988]

There should be laws ,that insurance companies can't sue personally .Insurance was to ensure you !! Now have restructured policy to take away any liability ,thats what they were originally designed to do !!

[@venwin25]

LLC is good, but insurance is king. Without proper insurance, the corporate veil can be pierced.

[@goosecouple]

"Nobody is safe anymore. Not even Trump."

[@dougg4633]

What would you consider proper insurance? Umbrella?

[@MauricioJRauld]

Insurance and veil are 2 different things BUT I agree that insurance is ALWAYS your first line of defense. And if there are no other assets in the LLC then yes, not having insuyrance can open you up to a pierce argument

[@CarbOhHydrate]

Trust is king - LLC is public vs business trust is private

[@Thewealthwarehousepodcast]

​@dougg4633 dividend paying whole life from a mutual company, designed for the banking function.

[@MisanThrope-cu1mw7fj3p]

Amazing. Do anything end everything to avoid any kind of personal responsibility for YOUR personal f-ups. Mature. Really mature. How about owning up to you mistakes? How about actually being held accountable for injuring people and destroying property? I'm lost for words.

[@JP-dn2eb]

Some incorrect information here. Placing properties or assets in an LLC/corp does not protect the individual if the individual who owns the LLC/corp is subject to personal liability. There are other means to do that, but that’s not one of them

[@Santamess]

The bank gave me personally the mortgage and won’t allow a transfer to an LLC who in essence is responsible for the mortgage. How do I get around that?

[@willbass2869]

Yeah....they didn't get too deep on this video. Not a lawyer......but it seems you would have to own the assets "free & clear" before putting it in a LLC. I can't imagine any mortgage provider willing to let YOU shield something they technically still have ownership interest in

[@twintailsanimations4973]

Put it into a trust and they probably won't object. Just check first.

[@TheseusTitan]

People should thnk twice if an LLC is a good decision for them or not and not just get one. With the Transparency Act, anyone with an LLC will have to go to FinCEN and fill out their forms every year. It’s a $500.00 per day fine if it isn’t filled out. I don’t know if I want the government to be that close to me. It was bad enough before but now it’s worse.

[@donovantobs]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[@Monicamonasky-]

well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.

[@rachelonigirl]

People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.

[@Jamesjerome0]

Can you please talk moire about your Financial Advisor?

[@rachelonigirl]

*''TRUDY ELIZABETH STOUFFER''* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market

[@Jamesjerome0]

Thanks, I just googled her I'm really impressed with his credentials. I reached out to her since I need all the assistance I can get.

[@ougmass]

.Thank you for this But, the creditors can still seize shares, parts, or interest of the judgement debtor in the LLC. And the creditors will own the LLC to the extend of their debt or part of it depending on the value of the debtor's equity in the LLC. Normally, after the final judgement, the judgement debtor will be interrogated under oath. This is in addition to the creditors private investigation regarding the existence of the legally seizable assets, their location, and market value.before pursuing further enforcement proceedings.

[@shawnmichael8866]

Your buddy ran a red light and caused damage and injury to others? Now you are explaining how to avoid being held fiscally responsible for those damages that were his fault? You're AWESOME. Teach people how to get away with causing harm. Very good!

[@trustno1167]

No,he is showing how to PROTECT yourself from money grubbing,over jealous ,rapeing lawyers.

[@ballinout92]

The lawyers will go beyond a million dollar insurance policy. They will try and take your whole life away

[@SweetPotatoesBlackStyle25]

💯​@@ballinout92

[@plannerjoy]

It’s called protecting yourself.

[@shawnmichael8866]

@@plannerjoy from being held accountable for your negligence and reckless behavior. But if you were the victim...... it would be different.

[@HousesByVic]

The fact that no one talks about the Dr. Suess book " Green eggs and Ham" is mind boggling.

[@richardstevens638]

Observing the market’s fluctuations highlights how fast things can shift. In this environment, strategic and informed trading isn’t optional-it’s essential. Caution is just as important as ambition. This commitment to ongoing learning is truly motivating. I’ve focused heavily on active trading, which offers a safer approach to navigating market volatility. Through this strategy, I’ve grown my nest egg from $87k to $246k. I’m especially thankful for Aldona Šabanienė’s tactics and strategies, which have been instrumental in my success.

[@richardstevens638]

She mostly interacts on Telegrams, using the user-name.

[@richardstevens638]

@AldonaSabaniene.

[@Greennomad2024]

The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.

[@markvanbeek33]

Nice info, i appreciate your concern this will help a lot especially to the young investors who have no or lesser knowledge on how the market works.

[@upanddowndownandup1]

The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.

[@JNHEscapes]

Couple of things: if you’re a simple person with a couple of LLC’s holding real estate or whatever…you’re still exposed. Any decent attorney will attempt and probably succeed in jumping the “corporate vail”. It will be obvious as to what you’re doing. Also, if you already have millions in investments and own nothing else (such as myself) then “moving” the investments to an LLC creates all sorts of tax issues. Having LLC’s is not a guaranteed solution for liability exposure. It might help, but if you run through a bus full of children you’re screwed.

[@Raniyanhunter]

The rich are money-minded; that's a lesson I've grasped from the very beginning. My desire to build wealth has always been strong. I’ve set aside $120K since 2020, and I’m eager to invest it in the stock market to grow my financial future. I’d love to hear any recommendations you have.

[@garnold-l5p]

I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@Joeknowsball247]

Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $175K to $550K, despite inflation.

[@Mlanderos-t9e]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@Joeknowsball247]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.

[@Mlanderos-t9e]

Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

[@stevo0]

Question….what if the vehicle that was in the accident is registered under the LLC? Can’t the other driver sue the LLC? And then all your assets are exposed anyway??

[@kt6332]

So be rich, own nothing so you can hurt people and ruin their lives and not pay for the damages you inflicted! Such good humans!

[@prancer4743]

One day you may own something good luck I have lots of everything so will move on to next podcast 😀👍🙏

[@neilarmitage6632]

Via the company registration organization's it is possible to search by a persons name to determine what companies an individual owns or is involved in. Then lawyers can go after the equity owned by the person within that company. Even the shares owned related to equity (asset) and can be attached and converted to cash. Thereby potentially crippling the company/s. All depends on how active the lawyer is. And the size of the claim. But all this has to go thru the court system first before a judgement is handed down. Fight it there, make a settlement there. Don't allow the lawyer to attack. Rather you liquidate assets if need be to pay the injured party.

[@ewinslow822]

Nothing says "scumbag" quite like "how to avoid paying people when you hurt them." My most charitable interpretation is "If you hurt someone, you need to make it right, but people can get greedy. Don't make it easy for them to seek *unreasonable* damages..."

[@O1012-u7q]

I agree with you in principle, but the fact that states frequently don’t require more than $15k in auto liability insurance, makes this asymmetric. Why should only wealthy people be responsible? If we as a society believe in this level of responsibility, minimum liability insurance should be at least $500k.

[@TRUTHandLIGHT4809]

Lawyers get to keep 40% of the take. They chase money. You need to make sure they cannot grape you

[@jermaineartis4323]

My properties are in a Land Trust, not an LLC. The Trust owns the property, not me or my LLC. And each property has its own Land Trust.

[@Helen_white1]

The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?

[@Thompson-e7h]

Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder

[@DhanaPayar]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@Kin-28-8]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@DhanaPayar]

I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@max-wb6vn]

I heard about it I didn't understand it before until now. I watched a video saying to put your asset in a trust

[@arinasan247]

So what's he is basically saying is that it's okay to permanently injure someone and not compensate them properly. That's just sick. Protecting ones money and not paying ones appropriate bills for harming someone are two very different things. This guy needs a lesson in morals

[@knowthyself9791]

Yes. It’s brilliant… only lawyers get rich❤thank me later 👍

[@EnFuego79]

You need a lesson in logic... namely the F-ton of self righteous assumptions you are making without knowing any details and ignoring the massive amount of corruption the lawyers, courts, and insurance companies participate in.

[@michellejennings3232]

Not everybody who gets hit by law breakers looks for riches. Many lose their homes and livelihoods to these " protected " people. Have some morals.....

[@ying2305]

Most loan companies do not take a LLC as an owner and require the borrower to provide personal guarantee. Any personal guarantee would enable "piercing the veil". What is your recommendation for taking a loan for such a real estate property and putting it in an LLC? Greatly appreciate your help on this.

[@michaelm1105]

A little deceptive, you do own assets and investments but they are protected behind LLC and trusts. But you still control these assets and you still paid for them and will collect the sales income once sold.

[@makinmuzic456]

Legally you don't own them, you don't get it.

[@michaelm1105]

@@makinmuzic456 if you have control over those assets and can purchase other items with those assets those assets are yours to do with as you please. Stop playing on words. If you do not own(control) those assets as stated in the video then you can’t use them for your gain/purchases.

[@makinmuzic456]

@michaelm1105 it's cool, my friend. You don't fully understand the game. You will one day, though. Study corporation and business law.

[@michaelm1105]

@@makinmuzic456 I understand fully. By law you control the assets and funds even though they are not in your name. By normal definition the wording is deceptive.

[@FLMCP97]

This is an overly simplification as different states have different requirements and different protections. For example, in Florida you have homestead, tenants by the entireties, single member/ multiple members LLC differences re charging liens, transfer taxes by moving around properties, especially encumbered. So it is critical to discuss with a knowledgeable advisor in Florida.

[@zonk1477]

LLCs don't even have these protections without a lot of caveats in my state. It's all land trusts is how to do it. But I am guessing every state is different.

[@nickmcdonarld]

I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Brooke Grace Miller for helping me achieve this

[@johneliss]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@ClarenceFerland]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@anatolyivan]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@sarapalin]

I'm new at this, please how can I reach her?

[@HighlightsSerieATIM]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@markdismang8550]

Confusing. I thought your asset was protected in an LLC? BUT than u stated that it is exposed?

[@russsmith2774]

So I'm supposed to feel sorry for the rich guy that ran a red light, hit another driver causing both property damage and personal injury because he wasn't adequately insured? I'm supposed to think the right outcome would be the victim had to pay all the extra costs because your friends assets were "protected?" WTF?

[@curtmetheny6520]

Yes! so start investing now!

[@JR79511]

I appreciate your help Mr. McElroy.

[@tabbott429]

In other words dont cause harm to others so they want to sue you and definitely dont run red lights causing an accident. Otherwise very helpful video.

[@shawnmichael8866]

Exactly. The best way not to get sued is don't do harm.

[@ceacea364]

Why isn’t the advisor recommending Land trusts for each property? (which are held in LLCs)

[@DonaldMark-ne7se]

Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.

[@kevinmarten]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

[@Jamessmith-12]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@JacquelinePerrira]

Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.

[@JacquelinePerrira]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@rdollie1]

Interesting, I just stumbled across this video. I happen to have a LLC business so I'm familiar with the costs of registration, aaccountant, legal fees, etc AND I have a personal liability umbrella policy. After watching this video and reading many comments, I think the best / cost-effective strategy for me is to get a much bigger umbrella!

[@Additional329]

How do most of you guys still making profit? Even with the downturn of economy and ever increasing life standards

[@MichaelKennedy-gq6xp]

>I suggest miss Nancy William's Laplace is extremely good on that.. She is really good on what she does, now I can pay so many bills because of her help.

[@ParmeliaJohnson]

>>The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

[@Ricroaming]

🥳This is correct, Nancy's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started..

[@Additional329]

Please how can I reach out to her easily?

[@MichaelKennedy-gq6xp]

She's mostly on Telegrams, using the user name

[@greatestsportslegends]

Well, so what you're saying is, this guy who ran a red light and greatly injured someone else should hide his assets and avoid responsibility for taking care of what he caused? What a wonderful message. This rich guy should have had a lot more insurance. That's what the message should be. Not the cheat the system and avoid responsibility in the care of others.

[@AstaKristjan]

I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?

[@LarsBergstrom-uh2eu]

I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.

[@ctcv-to8kq]

I can't answer your question but I did want to say "good for you" because you, at 27, are so much further down to the road to financial security than the vast majority of your peers. Way to go!