Asset protection for the poor

Discussion in 'Estate Planning, Creating Wills & Trusts' started by bakkam, Feb 2, 2012.

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  1. bakkam

    bakkam New Member

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    Looking for suggestions regarding, do it yourself, preemptive asset protection measures for folks who are worth less than 500k :D
     
  2. army judge

    army judge Super Moderator

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    It depends on the nature of the asset.

    One good strategy is don't do business with a hustler, especially one who approached you.

    In today's tricky times, say no to anything and everything.

    Saying no rarely gets you into trouble.

    Investments, why bother at today's interest rates?

    You'd be surprised where I keep my money, other than limited operating capital for monthly use.
     
  3. disagreeable

    disagreeable New Member

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    So that is how you got that expensive, extra firm, mattress. I wondered why it cost so much!!!

    Seriously OP, you need to focus on paying off debts that cost you money primarily. Why put an asset into an account generating .5% to 2%, while you pay 4% or more in interest. If you are debt free, money markets are the safest way not to lose money IMO.
     
    Last edited: Feb 3, 2012
  4. army judge

    army judge Super Moderator

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    Disagreeable, I tend to be very risk averse.

    However, when I do take risks, the reward must exceed the risk according to my calculus!!! :biglol:

    My mattress is very comfortable, but is fraught with risks, if one does not know where to look!!!!
     
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