Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Hi from Arizona
Old 07-31-2011, 07:28 PM   #1
Confused about dryer sheets
 
Join Date: Jul 2011
Posts: 2
Hi from Arizona

I have been a silent reader of this forum for a few months, so I thought I should introduce myself.
I am 40 y/o male, never been married (no children).
I have been saving for the last few years with the goal of early retirement.
I have saved about $150,000 so far, most of it mutual funds (stocks) with Vanguard. no home, no car payments, no debt.
I have some concerns though. In my line of work Frivolous lawsuits are not uncommon. How do I protect my retirement nest? I know that Vanguard has overseas branches, will any of those branches let US residents buy mutual funds? Will that be a safer legal option for someone like me who is worried about losing his retirement nest?
Appreciate your input.
AZD1234 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-01-2011, 08:22 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
Quote:
Originally Posted by AZD1234 View Post
In my line of work Frivolous lawsuits are not uncommon. How do I protect my retirement nest?
Not really enough information for a good suggestion, and I'm not the one to make it. You could investigate insurance or incorporation. Hiding assets is not the answer.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is online now   Reply With Quote
Old 08-01-2011, 08:30 AM   #3
Administrator
Alan's Avatar
 
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
You may want to read these threads on whether or not umbrella insurance is right for you.

http://www.early-retirement.org/foru...nce-46193.html

http://www.early-retirement.org/foru...uto-56305.html

http://www.early-retirement.org/foru...pic-25886.html
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is offline   Reply With Quote
Old 08-01-2011, 10:25 AM   #4
Confused about dryer sheets
 
Join Date: Jul 2011
Posts: 2
Thanks for the links Alan. I didn't know about umbrella policy before.
I guess,I need to do some more reading

Kumquat, I am not trying to hide my asset, I just thought that if my assets were in a foreign country there would be less risk for Frivolous lawsuits. I have always wanted to eventually retire in a foreign country, so I don't have to keep my asset in the US. I am just beginning to learn about this subject, so I might not know what I am talking about.
I also posted in another forum, and some people were recommending Nevis LLC, but it seemed like they were trying to sell something to me.
From my limited knowledge so far, I think something like Umbrella insurance might be a better choice for me than Nevis LLC, at least until I retire.

I know this an early retirement forum. I don't have a set date for retirement yet. I don't hate my job yet (I am a physician). After I retire from my paid job, I want to move overseas and keep working in a third world country. So I want to retire early from my paid job only. I hope I am still welcomed here.
AZD1234 is offline   Reply With Quote
Old 08-01-2011, 10:30 AM   #5
Administrator
Alan's Avatar
 
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
Quote:
Originally Posted by AZD1234 View Post
I know this an early retirement forum. I don't have a set date for retirement yet. I don't hate my job yet (I am a physician). After I retire from my paid job, I want to move overseas and keep working in a third world country. So I want to retire early from my paid job only. I hope I am still welcomed here.
Of course you are still welcome here, no set date for retirement required, early or otherwise
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is offline   Reply With Quote
Old 08-01-2011, 04:31 PM   #6
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
Quote:
Originally Posted by AZD1234 View Post
I have some concerns though. In my line of work Frivolous lawsuits are not uncommon. How do I protect my retirement nest?.
I believe all investments in a Traditional IRA are protected against loss from a lawsuit. However, I do not believe ROTH IRA investment receive the same protection. Worthwhile to investigate.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Quick Links

 
All times are GMT -6. The time now is 02:00 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.