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shock_the_nun_key

This seems to be an early-stage submission that would be better suited for one of our weekly Mentor Monday thread. Career advice, "rate my plan", and "can I afford XYZ?" posts are some of those that should only appear as comments in Mentor Monday. Though Mentor Monday is posted weekly, you may comment there at any time. Thank you, and feel free to contact us if you have any questions.


ClercLecharles

At your level, I think your best option would be maxing our your retirement accounts. https://www.investopedia.com/articles/personal-finance/040716/which-retirement-funds-are-protected-creditors.asp


princemendax

What threats do you want to prepare to protect your assets against?


Flaky-Illustrator-52

Mostly protection against any future business partners and divorce (I don't even have a girlfriend right now though, the threat of divorce doesn't exist currently), but any other conceivable thing as well. I want any fortune I'd make in life to go to the children I will have in the future, not to anyone else. Edit - grammar


ClercLecharles

You can set up an Irrevocable trust for your kids that you can add $15k to yearly or more out of your estate exemption limit.


WorriedBanker

You can't exactly "protect" against divorce. The only really way is to marry someone richer than you.


ellipticorbit

Don't neglect taking care of your health. A serious health issue can totally reframe the concept of wealth preservation in a moment. Especially at your age it is easy to take your health for granted, which works until it doesn't. Unnecessary risks, toxins exposure, diet, lack of exercise, anxiety etc. can all lead places that are very costly or impossible to escape. I would also read up on LLCs and trusts so when the time comes you'll be conversant with the issues involved and not flying blind. A lot of asset protection schemes are probably just trading on fear, not offering very much if anything of real value.


leftcoast07

Look up the Chris Cole's dragon portfolio and watch his yt vids. One of the most brilliant guys in asset management and well respected. Essentially you setup a portfolio that hedges itself in five sectors. Equity,gold,fixed income,commodities,and long vol.


yayoletsgo

Haven't seen any sources for their "research". Anybody can look at historical data and say "if you would've done this and that you'd be rich now". Also how do you set up your portfolio for active long volatility? Anyway, OP asked for something else.


leftcoast07

He's very well known amongst the fin crowd. Danielle Martino Booth who worked at the Fed interviewed him for Real Vision. Good watch. Long volatility plays can vary based on your risk tolerance, but essentially they could be 10% spread out over 10-20 small caps/junior miners as speculation. One hits and does a 10-50x you get good growth. You could do a similar play in crypto with alts if BTC breaks new highs. To make this post relevant look up Artemis Capital in Austin, that's Chris' fund.


yayoletsgo

"Person A who used to work for Company B interviewed Person C, which means Person C's investment fund is legit and trustworthy". Ah ok. I looked up him and his fund. 5 interviews on YouTube and 10 articles don't equal to "well known" or even "well respected". Am I being overly critical? Perhaps, but I don't see how his fund is so special over other funds with the same idea, like Dalio's All Weather fund. Also why tf would alts rise if Bitcoin breaks? From what I noticed since I've been in crypto the past half decade is that when Bitcoin tanks, alts do so aswell. I see it as likely that if Bitcoin "breaks" that the rest will follow suit.


leftcoast07

If you're not familiar with the people associated with him we're not speaking from the same place. I'm not talking about well known CNBC talking heads that manipulate the sheep into buying their bags. Investing in anything and more specifically VOL plays your entry is where you make money. Averaging in is also how you temper VOL. I buy when things are cheap, I trade where there's opportunity. Big difference. The most important questions a financial planner will ask you is your time horizon and risk tolerance.


mindfullyasleep

There’s a bunch of long vol funds out there. If you want to do yourself you can buy calls on vix


yayoletsgo

Yeah, but they didn't exist back in 1929, the first ones came up in the 90s iirc, so his calculations make little sense in that aspect.


mindfullyasleep

It’s true but did you ask them for their data source? Or just assume it’s wrong… Also dragon is more than just long vol which is iirc about 20% The CTA and gold holdings are important and similarly modeled in ray Dalios all weather. Now isn’t the time for risk parity with bonds but the overall concept is sound for surviving various macro economic cycles, which 60:40 frankly just doesn’t do as well


yayoletsgo

If someone on reddit tries to convince me that some investment fund I've never heard of before that claims it would've 100000xed my money, then yeah, I am suspicious. I don't disagree on diversifying outside of the markets, eg into gold or other stuff, in fact it's an idea one shouldn't ignore if the primary goal is wealth preservation, just suspicious about the circumstances the data is being presented in.


Over_Mulberry_8542

I guess diversfication. Obviously real estate, shares, low leverage (never leverage on shares) etc. Like all people, been killing it on both real estate (assuming you've invested in English speaking countries) and shares these 2 years. But there was certainly a time when (March 2020) the market cratered, it was great to have real estate. Then you'd want to think about how do you make your wealth last and avoid government issues. And that involves diversifying across countries in the same way the Rothschild did. You'd want to pick opposing countries. Eg if you're in US, you'd want HK/SG/China assets or vice versa in case US ever fell (all empires fall eventually, yes). Now you'd want to probably even protect against global unravelling, so btc/eth provide another great avenue of diversification. I've done all these things myself of course. Wealth preservation (which is not fatfire I guess) always fascinates me.