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07-31-2011, 07:28 PM
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#1
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Confused about dryer sheets
Join Date: Jul 2011
Posts: 2
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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.
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08-01-2011, 08:22 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
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Quote:
Originally Posted by AZD1234
In my line of work Frivolous lawsuits are not uncommon. How do I protect my retirement nest?
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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 ..
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08-01-2011, 08:30 AM
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#3
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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08-01-2011, 10:25 AM
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#4
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Confused about dryer sheets
Join Date: Jul 2011
Posts: 2
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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.
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08-01-2011, 10:30 AM
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#5
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,056
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Quote:
Originally Posted by AZD1234
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.
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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
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08-01-2011, 04:31 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by AZD1234
I have some concerns though. In my line of work Frivolous lawsuits are not uncommon. How do I protect my retirement nest?.
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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.
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