Radical Personal Finance

Latest Episodes:

632-Asset Protection Planning for Mere Mortals - Part 10 - Personal Property Exemption Planning Mar 25, 2019

Show notes

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

Check out my newest course! www.radicalpersonalfinance.com/store

631-Individual Solutions Can Lead to Success and Happiness; Collective Solutions Lead to Frustration and Misery Mar 21, 2019

Show notes

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!

630-Friday Q&A: Whole Life Insurance, Walmart for Do-Gooders-of-The-Year, Asset Allocation in Retirement, Paying off Mortgages & More! Mar 08, 2019

Show notes

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?

629-[In-Depth Version] Federal Debt: The Ticking Bomb that No One is Willing to Defuse Mar 07, 2019

Show notes

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:

"The federal deficit ballooned at start of new fiscal year, up 77 percent from a year before" - Washington Post https://www.washingtonpost.com/business/economy/the-federal-deficit-ballooned-at-start-of-new-fiscal-year-up-77-percent-from-a-year-before/2019/03/05/ff8d31f6-3f75-11e9-9361-301ffb5bd5e6_story.html
A Comprehensive Federal Budget Plan to Avert a Debt Crisis https://www.manhattan-institute.org/html/report-comprehensive-federal-budget-plan-avert-debt-crisis-11497.html

628-Federal Debt: The Ticking Bomb that No One is Willing to Defuse Mar 06, 2019

Show notes

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

"We've Never Had Deficits Like This During Peace and Prosperity Before" https://reason.com/blog/2018/10/17/budget-deficit-trillion-dollars-riedl
New Course: "How to Survive and Thrive During the Coming Economic Collapse: A Rational, Modern Approach" https://www.radicalpersonalfinance.com/store

627-Asset Protection Planning for Mere Mortals - Part 9 - Health and Education Account Exemption Planning Feb 18, 2019

Show notes

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

626-Friday Q&A: Capitalism vs. Communism, Umbrella Liability Insurance, Buying a House While in Debt, etc. Feb 15, 2019

Show notes

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?

625-Friday Q&A: Maximizing Business Value for a Sale, Preparing for a Meeting with an Estate Attorney, and More! Feb 08, 2019

Show notes

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?

624-The 5 Possible Future Scenarios (from Fantastic to Catastrophic) and How to Plan for Them Feb 04, 2019

Show notes

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

623-Friday Q&A: Life Insurance, Protecting Money in Brokerage Accounts, Optimizing Taxes while Living in Bermuda, etc. Feb 01, 2019

Show notes

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?

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