CW 727 FBF - Multi-Generational Wealth Preservation with Catherine McBreen Real Estate Investor & Author of ‘Get Rich, Stay Rich, Pass It On’
09/16/16 • 48 min
Catherine McBreen is the President of Millionaire Corner and the author of “Get Rich, Stay Rich, Pass it On: The Wealth-Accumulation Secrets of America’s Richest Families”.
The U.S. is now seeing record numbers of millionaires. McBreen explains the effect stocks have had on this run-up. She recently released a service called “Find an Advisor,” and discusses how it helps people find the best financial advisor for them. She also analyzes investment newsletters in lieu of financial advisors. McBreen finally talks about the effect money has on happiness and marriage relations.
Visit Millionaire Corner at www.millionairecorner.com.
Catherine McBreen is the President of Millionaire Corner and the author of “Get Rich, Stay Rich, Pass it On: The Wealth-Accumulation Secrets of America’s Richest Families”.
The U.S. is now seeing record numbers of millionaires. McBreen explains the effect stocks have had on this run-up. She recently released a service called “Find an Advisor,” and discusses how it helps people find the best financial advisor for them. She also analyzes investment newsletters in lieu of financial advisors. McBreen finally talks about the effect money has on happiness and marriage relations.
Visit Millionaire Corner at www.millionairecorner.com.
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CW 726 - Jeff Nabers - Creator of the Solo 401k
If you are interested in growing your retirement money faster, reducing your risk paying less tax this episode is a must listen. You must align your interests with the financial institutions and the central banks as they are most powerful monetary entities in the world. As you build your income property portfolio you need to put your money in a retirement account which allows you to self-direct your funds without paying high taxes or penalties. The Solo 401k is a vehicle you can use to defer taxes and manage as a resource. Guest expert, Jeff Nabers, created the complete Solo 401k and designed an online tool so you can calculate possible risks before making major investment decisions.
Key Takeaways:[1:21] Financial institutions and central banks are the most powerful entities the human race has ever known and we should align our interests with them.
[6:50] Using the leverage of your 20% down on a property increases your power by 500%.
[8:35] The Newser Wells Fargo article: Details about the 185 million dollar fine.
[14:38] The Creating Wealth seminar is now part of the package available at Hartman Education.
Jeff Nabers Guest Interview:
[16:35] The Solo 401k was based on the Pension Protection Act of 2006.
[18:39] The 3 main advantages of a Solo 401k.
[25:32] There are two qualifications which differentiate a Solo 401k from a traditional Roth IRA.
[30:32] The Solo 401k allows you to invest $18,500 of your self-employment income.
[32:06] The IRS puts real estate investors in two categories one is a business and the other is a dealer.
[34:36] The rules of an IRA are much stricter than the rules of a Solo 401k.
[40:00] The most powerful thing an investor can do is to diversify.
[42:02] Health care costs and college tuition are impacted the most by inflation.
[42:34] The present value of money versus the future value of money and the lost opportunity costs of paying taxes on an IRA now.
[46:54] It’s impossible to know how the government will tax retirement plans in the future.
[51:26] Jeff Nabers’ company set up the only complete Solo 401k and designed an online tool.
Mentioned in This Episode:Next Episode
CW 728 - Understanding The Property Supply Chain for Real Estate Investors, Inflation Is Here!
Jason’s guest today, Dave, is a member of a real estate investor Mastermind group. During the last meeting, there was a consensus that two major problems exist with the rehabilitation of properties. Dave shares the two issues and some of the solutions discussed during the Mastermind meeting and feedback from his experience over the last year. Jason recognizes the property supply chain is currently going through a boom cycle. The disparagement between the property supply and demand makes it challenging for local market specialists, real estate investors and for tenants.
Key Takeaways:[1:20] Real estate investors are seeing spikes in remodeling costs and having difficulty finding good project leaders.
[6:44] The challenges of the local market specialists, the real estate investors and tenants are due to a boom cycle.
[13:10] In the last year, a General Contractor has seen a 30% increase in materials.
[17:34] Increased material costs and missed time frames both reduce profit for real estate investors.
[21:20] Solutions to the problems include automating the process and having an efficient project manager.
[27:23] Real estate investor demand has far exceeded the supply of good inventory.
[28:04] Rehabbing properties has become entirely different than in the past. Current available properties are in worse condition.
Mentioned in This Episode:If you like this episode you’ll love
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