The Business Owner’s Guide to Financial Freedom: What Wall Street Isn’t Telling You

Welcome to my The Business Owner’s Guide to Financial Freedom: What Wall Street Isn’t Telling You book summary!

One-Sentence-Summary: An overview of money management, taxes, and retirement planning for the small business owner.

booboo real-time book rating: ★★★★★ (percentage of books with this rating: 4%)

“The real ROR [rate of return] of an investment is also referred to as CAGR. Look for that value in your investment disclosures. Seeing it there is, if nothing else, an indication that the investment offering is attempting to be honest.” (p. 178)

This blog contains both my summary and review of the book The Business Owner’s Guide to Financial Freedom: What Wall Street Isn’t Telling You.

In terms of asset protection, “IRAs aren’t as protected as 401(k)s.” (p. 252)

“I recommend a DAPT [domestic asset protection trust] for assets that you will have for a very long time or make few changes to.” (p. 256)

You are reading my book review and summary by Mark J. Kohler. Be sure to check out my digital bookshelf for 100+ book summaries.

The book gives what appears to be a great security hack for your computer, but I haven’t been able to get it working. They suggest making yourself a limited user on your own computer.

Did you know I’m an author? I wrote four books on real estate investing, travel, and language learning.

“A Revocable Living Trust (RLT) and Will doesn’t protect your assets from a creditor in a lawsuit, but it does protect your assets from the government of your family wasting your hard-earned assets.” (p. 271)

On the issue of inheritance for high net worth individuals, deciding an equitable way to distrube cash in order to not make their offspring lazy POS’s: “Give the inheritance in matching funds, disturbing $1 for every $1 the child earns.” (p. 275) This way, if they want to game the system, someone is going to have to risk a large sum of money to get a large sum of money. Most inheritance distribution strategies can be hacked. For example, if you make it dependent on getting a college degree, the child could easily work out a deal with some shady college to provide a kickback.

Thanks for visiting and thanks to Mark J. Kohler for writing InflThe Business Owner’s Guide to Financial Freedom: What Wall Street Isn’t Telling Youuencing!

Date Started: Saturday, July 13, 2024

Date Finished: Thursday, September 18, 2024