It's Friday! That means live Q&A:
In this episode of the podcast we tackle these two questions:
Short answer? Yes and yes. If that's enough for you, just skip listening to this episode. But if you'd like a bit more texture to the discussion, enjoy the podcast for a discussion of the legality and morality of asset protection planning.
p.s., if you missed Part 1 of this series, start there.
Here at RPF, I strive to keep you focused continually on the Radical Personal Finance "Framework For Wealth." This is a helpful framework for you to use to organize the financial planning suggestions you are given as well as the specific actions you can take to build your wealth as you work towards financial independence.
(After all, it's action that counts. Only action leads to change. Thoughts and philosophy are nice, but you have to act.)
That Framework for Wealth is quite simple:
Today, we focus on Avoiding Catastrophe as we broach the topic of Asset Protection planning.
There are many ways we can conceive of "Asset Protection Planning." The common use of the term involves legal planning that helps to insulate various assets from the legal claims of creditors through the use of exemptions and legal entities such as corporations and trusts.
I'm fine with this being the primary use of...
Here's the complete answer that you need to know if you should pay off debt or invest.