The Meb Faber Show - Better Investing Joel Nagel on Global Asset Protection: Defense for a Dangerous World | #559
Nov 22, 2024
In this discussion, Joel Nagel, founder of Nagel & Associates and an asset protection expert, dives into crucial strategies for safeguarding wealth. He outlines four key risks in asset protection and shares insights on trusts, second passports, and dual citizenship. Joel emphasizes the importance of strategic debt management and explores the benefits of investing in gold and cryptocurrencies as defenses against economic instability. His wealth of experience offers listeners valuable perspectives on navigating today’s financial landscape.
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Asset Protection Prioritization
- Prioritize asset protection, which focuses on preserving your existing wealth.
- Consider trusts, especially offshore trusts, for systemic protection beyond investment strategies.
Trusts for Asset Protection
- Asset protection needs increase with wealth and risk, especially for professions like doctors or lawyers.
- Trusts offer superior protection by being separate legal entities, unlike companies where ownership links back to you.
Offshore Trusts and Transparency
- Offshore trusts aren't for hiding assets; they offer legal protection by changing the litigation landscape.
- 'Show and tell' transparency can deter lawsuits by increasing complexity and cost for plaintiffs.