Protect Your Money: Simple Ways to Keep Your Wealth Safe
Building wealth is great, but keeping it safe is just as important. Unexpected events—like lawsuits, bad investments, or even the economy changing—can put your money at risk. LaVonne Idlette, a former Olympic athlete turned financial expert, shares tips on how to protect what you’ve earned.
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Why Protecting Your Money Matters
Did you know that 40 million lawsuits happen every year in the U.S.? Many of them target people with savings and investments. Also, 60% of Americans don’t have a good financial plan. Without protection, one mistake could cost you everything!
How Trusts Help Keep Your Money Safe
A trust is a tool that helps you protect your money and keeps it private. Here’s how they work:
Revocable Trusts: You can make changes, but they don’t offer full protection.
Irrevocable Trusts: These fully protect your money from lawsuits and taxes.
Dynasty Trusts: Help keep money in your family for generations.
Asset Protection Trusts: Used in certain states to protect money from lawsuits.
Charitable Trusts: Help you give to good causes while keeping your money safe.
Giving Back While Protecting Your Wealth
Starting a foundation lets you donate money while also saving on taxes. Many wealthy people use foundations to give back while keeping their wealth secure. In fact, U.S. foundations hold over $1.3 trillion in assets!
Keeping Your Wealth Private
Keeping your money private helps protect it. Public records make it easy for others to see what you own. Using LLCs, trusts, and other tools can keep your finances hidden and safe from lawsuits.
Some ways to stay private:
LLCs: Protect your personal wealth from business problems.
Land Trusts: Keep your real estate ownership private.
Offshore Trusts: Some countries have extra strong protection laws.
Smart Investing & Growing Your Wealth
If you want to grow your money safely, consider investment funds. These help spread your money across different types of investments, reducing risk. The private equity market is worth over $4.7 trillion, showing how powerful investing can be.
Insurance: A Safety Net for Your Money
Insurance is another great way to protect your wealth. Some important types include:
Umbrella Insurance: Extra coverage in case of big lawsuits.
Key Person Insurance: Helps businesses stay stable if a key leader is lost.
Life & Disability Insurance: Protects your family’s future.
Start Protecting Your Money Today
LaVonne Idlette says planning ahead is key. Just like training for the Olympics, protecting wealth takes discipline and strategy.
By using trusts, legal tools, smart investments, and insurance, you can keep your money safe and build a legacy. Don’t wait—start today!
Want more tips on building and protecting wealth? Stay connected with Secure Your Future Global for expert advice and upcoming events!
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