Mat is a Wealth Lawyer and Award-Winning Entrepreneur. He is Founder and CEO of Directed IRA & Directed Trust Company where they have over $1.7B of assets under administration. Directed IRA is an INC 5000 winner as one of the fastest growing companies in America. Mat is also a Senior Partner at KKOS Lawyers, the number one tax law firm for business owners and investors. KKOS Lawyers serves clients nationwide from its offices in CA, AZ, UT, and ID. Mat is also co-founder of Main Street Business Services, a company compliance business handling registered agent services as well as annual renewals, minutes, and filings for over 10,000 LLCs and corporations in all 50 states. Mat is also the head coach of Team Wealth Building, a community of like-minded individuals building wealth together.
Mat is a VIP Contributor for Entrepreneur and is the author of the #1 book in the self-directed field, The Self-Directed IRA Handbook, which has sold over 40,000 copies.
I'll just keep maxing my roth 401k, roth ira, and hsa while paying off additional principal payments to my house to pay it of over 66% faster while having no consumer debt.
LMAO 16% rate of return every year for 30 years...folks this guy is a major con artist, this is not reality...you're lucky if you get 6-8% average annual returns for 30 years
Mat I heard from a bird that a lot of custodians are not offering Coverdell accounts because 529 are just better overall and can be used now for K-12 cost? 🤔 I mean 529 you dont have as many investment options but is anyone in the working class making less than 100k really going to buy realestate 🤔.
Ok 20k debt at 5% minimum payment of say 200 will take 11 years (130 months) or $25900. If you had an extra $800 a month to put to it, you pay 20900 in 21 months. If you invest the 800 over 130 months at 8% you return 212k - 5.9k to get 206.1k. If you pause all investing, for the 21 months and start with 1000 and go for 108 months, you will have 200.7k.. is 5.4k worth keeping your debt around for 11 years when you could have it paid off in 2.. would you go borrow money to put in the stock market? Like there is also the risk of missing a payment, losing a job, big expenses come up, life happens, and when you dont owe anyone anything, you can handle life and that debt is out of the picture and its less stress. And I know 6k is not a small amount for most people, over the 11 years, it's less than $500 a year or $40 a month (ish). Not worth brain power every month for 11 years.
People formulating these calculations never factor in other things like mental strain, or world events. There are certain risk involved that are conveniently left out of these calculations. She won’t regret paying off her student loan debt. If she does, she can always get more.
Yeah that interest is compounded on that student loan debt as well. The avg interest is 6.5%. If all you have is about 10k in student loans, it is better to pay it off then roll all of that money into a roth ira.
Hi Matt. Have been a long time student and follower of yours since 2015 (Southern California OC). I do self directed Solo 401k with your company. Can you or your team help me connect with the DISTRESSED MULTI-FAMILY SYNDICATE that you mention in this video? TIA 🙏
The only good debt is on an appreciating asset like a rental property that gives cash flow. If you can borrow money dirt cheap at say 3% and invest in a REIT that pays 10% debt is good.
Let's not address the real scam - student loans. If your degree can't provide a return on your "investment", then you invested in the WRONG THING. Telling them to "invest" AGAIN, when they made a very bad investment in the first place is idiotic. By law, the only type of loan that you cannot default on, is a student loan. Isn't that interesting..
Yes but the point is you do this for like 2 years. If it takes you 20 years to pay off the student loan you did something wrong in the first place anyways
But older inherited IRAs for decedants who passed before the recent SECURE Act changes can still use the lifetime of the person who inherited to distribute, correct?
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributinug to my 401k or look at alternative sectors to meet my goals?
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
I take guidance from a Montana-based advisor ''Katherine Nance Dietz'' To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
excellent share, curiously inputted Katherine Nance Ditz on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
You assume humans are rationale and don’t pull out of the market during times of volatility - Behavorial finance, easy in theory , tough in practicality
How can you feel good about a 8% return on anything, if you have 20k in student loans hanging over your head. It's like, I'm getting wealthy, but not really. Look at this way, I have 20k in a Roth but I owe 20k in student loans. That means my net worth is ZERO.
But, because the ROTH gains are tax-free FOREVER, your effective net worth is greater than zero. You can pay the student loan off at anytime, but it takes 3-4 years for most people to accumulate $20k in a ROTH (unless it is a conversion from a Traditional IRA, 401K, etc).
@@backcountyrpilot bro are you seriously DEFENDING keeping debt, pay them off anytime?!?! There is interest in those loans, the longer you don't pay the more you have to pay in interest. No offense dude, but that's financially stupid. Just so you can marginally be ahead, like what? That's not how you build wealth.
What happened around 2008 to many people who followed this advice again? Oh yeah, they became homeless because there’s a massive risk to your strategy that your not addressing
With Vanguard, you can't pull just the investment. If you pull out 70 grand, it's prorated. (70/120 is no penalty, 50/120 is penalty and tax). It would be nice to just pull all without penalty and tax and just let the investment grow on itself.
The point is that his advice is reliable. She probably has no debt and has bèen investing into her roth ever since paying off the debt which is still a sound spot to be in. Are there "better" ways to invest than Dave's, yes- but being in debt is always just plain lousy. She is out of debt and doesn't ha e to worry at all abput monthly payments.
But once you pull it out, you’ll have wasted years of being able to contribute and have it grow tax free. You can only put in $7k per year, so if you pull out $35k to use, you won’t be able to put in back in. Better just to keep 3-6 months of an emergency fund in a HYSA or Money Market so you don’t have to use retirement money for an emergency.
I deliver mail in apt complexes and I’m shocked at what tenants have to put up with!! Broken mailboxes…No lights or security cameras in lobby. Trash outside the building. Landscaping not done. Greedy landlords.
Bless your heart *BanninkSolutions* . Its so sad how the scammers prey on the elderly and the uninformed public. Bless you and all others who fight against these crimes.Its horrible how mainstream media is not doing the right thing by shining light on these things to help the publiccc!!!
I pulled money from a Roth and they sent me a form saying I had to show it as income the next tax year the fuck is that. I already paid taxes on the money
