Not a question but .. just spoke with top guy in my company .... “we look for guys with a high mortgage and 3 kids”.... that is literally what he said to me . BTB doesn’t miss . They got the excel sheet
In the past you've advocated for not revealing your entire "financial situation" to your wife. What do you think is an appropriate framework for "lying down" in this case?
Do whatever you want this stuff is easy to figure out if you want to get married. If you can't figure it out and you are rich best to avoid and have kids out of wedlock
If we have an employer-match 401K....maybe stick that into a Fidelity bond fund or something? Doing the match for free money, doing bonds b/c close to the same rate as S&P 500 right now.
The thing that has always rubbed me the wrong way re: prenups is that for them to be valid, you have to disclose all of your assets. And BTB prescribes not disclosing your wealth level to your spouse.
Word of caution to the bowtied community on WY LLCs. As BTB noted, it needs to be done correctly. Which means operating the LLC biz from WY. Otherwise, if you live and operate the biz in say NY, a WY LLC doesn't provide legal protections.
Privacy? Yes. But if s@#t hits the fan, the WY LLC won't save you from legal troubles and liabilities.
Maybe not your current audience but you could convert a lot of the people already on there. Just food for thought since all it would take is cross-posting the article!
Having a permanent life insurance policy for UHNW for estate planning, living benefits and generational wealth building is a good tool to have in the arsenal.
Not a question but .. just spoke with top guy in my company .... “we look for guys with a high mortgage and 3 kids”.... that is literally what he said to me . BTB doesn’t miss . They got the excel sheet
Yes then they pay you less because they know you are stuck.
In the past you've advocated for not revealing your entire "financial situation" to your wife. What do you think is an appropriate framework for "lying down" in this case?
Do whatever you want this stuff is easy to figure out if you want to get married. If you can't figure it out and you are rich best to avoid and have kids out of wedlock
https://hudsonreporter.com/sports/achraf-hakimis-ex-wife-denied-share-of-fortune-as-football-stars-assets-found-in-mothers-name/
Post is done.
"While we wouldn’t be touching rental properties with a 100 foot pole at this point (outside of extreme examples)"
Do you mean at current prices or never again because of tax, insurance, tenant issues?
Current prices
If we have an employer-match 401K....maybe stick that into a Fidelity bond fund or something? Doing the match for free money, doing bonds b/c close to the same rate as S&P 500 right now.
Maybe something like this?
https://fundresearch.fidelity.com/mutual-funds/view-all/316146596
If this is stupid someone please roast me
Prenups?
The thing that has always rubbed me the wrong way re: prenups is that for them to be valid, you have to disclose all of your assets. And BTB prescribes not disclosing your wealth level to your spouse.
If your mom and dad are rich you are not rich. If you can't figure out basics like this you can't get married.
https://hudsonreporter.com/sports/achraf-hakimis-ex-wife-denied-share-of-fortune-as-football-stars-assets-found-in-mothers-name/
Get a prenup. Be honest about all your assets. Pay for her to have her own separate lawyer
There are other strategies (trusts, btb’s link) that can protect assets without having to disclose all of them
Good stuff
Word of caution to the bowtied community on WY LLCs. As BTB noted, it needs to be done correctly. Which means operating the LLC biz from WY. Otherwise, if you live and operate the biz in say NY, a WY LLC doesn't provide legal protections.
Privacy? Yes. But if s@#t hits the fan, the WY LLC won't save you from legal troubles and liabilities.
Isn't the structure to have the WY LLC hold the LLC in your state?
Correct.
I could be wrong, but I suspect some skip that second step.
This is fantastic info. Why don't you try growing on LinkedIn as well? I think this kind of stuff would do great on there
Lol really doubt that our audience is the type to have a prolific linked-in profile
Maybe not your current audience but you could convert a lot of the people already on there. Just food for thought since all it would take is cross-posting the article!
Having a permanent life insurance policy for UHNW for estate planning, living benefits and generational wealth building is a good tool to have in the arsenal.