Are you a real estate investor looking to elevate your game while ensuring your assets are fully protected? Do you need advice on developing a robust wealth-building strategy? If yes, you'd benefit from insights from this week’s guest.
Join us on Average Joe Finances as our guest Scott Royal Smith shares his knowledge and expertise on asset protection, financial freedom, and lifestyle strategies, particularly for real estate investors
In this episode:
- Recognize the pivotal role of asset protection in maintaining financial security.
- Emphasize the significance of implementing asset protection measures at the right time.
- Understand how private foundations, similar to super IRAs, can protect income and provide a tax-free growth strategy.
- Recognize the need for experts in asset protection, estate planning, tax strategy, insurance, and investment within your team.
- And so much more!
Key Moments:
00:36 Getting to Know Scott Royal Smith
00:43 Scott's Journey to Financial Freedom
01:54 The Importance of Asset Protection
02:11 The Birth of Royal Legal Solutions
02:35 The Shift to Asset Protection
03:02 The Wake-Up Call and Expansion
03:31 The Importance of Strategic Tax Planning
03:39 The Concept of Financial Freedom
04:03 The Desire to Teach and Give Back
04:22 The Reality of Financial Freedom
05:09 The Dangers of Not Protecting Your Assets
05:46 The Importance of Asset Protection for Real Estate Investors
06:24 The Right Time to Consider Asset Protection
06:56 The Benefits of Series LLCs
08:39 The Power of Anonymity and Compartmentalization
12:52 The Role of Money in Life
14:14 The Use of Retirement Accounts in Real Estate Investing
15:47 The Advantages of Private Foundations
18:17 The Importance of Strategic Tax Planning and Structuring
19:47 The Importance of Having the Right Team
20:26 The Role of Professionals in Your Business
20:53 Understanding Different Types of Professionals You Need
21:14 Balancing Investments and Taxes
21:29 The Role of Insurance in Your Business
21:59 Building a Wealth Building Company
22:24 The Services Offered by Royal Legal Solutions
23:57 The Importance of Education in Business
24:16 The Process of Building a Wealth-Building Company
25:23 The Importance of Hiring Professionals
Find Scott Royal Smith on:
Website: https://royallegalsolutions.com
LinkedIn: https://www.linkedin.com/in/scottroyalsmith
Average Joe Finances®
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About Mike: https://mikecavaggioni.com
Show Notes add-on continued here: https://averagejoefinances.com/show-notes/
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See our full episode transcripts here: https://podcast.averagejoefinances.com/episodes