Why does your Net Worth EXPLODE after $100k..the truth (Q&A)

Рет қаралды 4,475

Mat Sorensen - Wealth Lawyer & Entrepreneur

2 ай бұрын

Discover why reaching a net worth of $100K can lead to significant financial growth due to the power of compound interest. Plus, learn how to achieve this tax-free with a self-directed retirement account.
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To open a new account or book a call with Directed IRA Visit:
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To get advice on your specific situation contact my company KKOS Lawyers:
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To ask a question that Mat can answer live visit:
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Пікірлер: 15

@fixapony 2 ай бұрын

Great info as always, thanks! Please don't forget to have fun while shooting the video too though, ok? The humor and playfulness is what makes you guys really stand out from all those way too-serious boring channels so we can actually enjoy watching and really learn! Keep up the great work! 🎉

@CetusVid 2 ай бұрын

If I am a solo s-corp owner (no employees), can you compare the 401k accounts you’ve been describing (solo, mega back door strategies etc) with profit sharing and creating a defined benefits plan as a 34 year old?

@AncientHistoryAlive-rv9mb 14 күн бұрын

I'm interested in hard money lending as well. Which company do you use? Do you think this is a safe investment?

@Tam2Cham 2 ай бұрын

Well shoot I don't have 18 years to get there. I have about 4-5 years.... :(

@AlexeyVedernikov 2 ай бұрын

@MatSorensen Thank you for this video and for your talk at the Summit with SubTo! I am in the process of becoming a DirectIRA client this month! If possible can you please clarify one technical thing for me: Once I have my Self-directed Solo 401k/IRA I know that my checkbook LLC can lend money for renovation to an LLC which is buying a building (I am 33% owner in that second LLC). I just want to make sure that I can still use the depreciation from the building to offset my passive income at the end of the year. I don't think this classifies as self-dealing since the Checkbook LLC does not purchase a property but simply lends the funds. Thank you sir!

@MatSorensen 2 ай бұрын

Hi Alexey, your solok or ira could loan to an LLC you own 33% of so long as the deal is reasonable and there isn’t any self dealing or special deal you or your ira is getting. And I presume the other 66% of the LLC is owned by unrelated people to you (eg not spouse). As to the depreciation, yes, your 1/3 of the LLC and the tax gains or losses are not changed and you’d still need to bake to take depreciation.

@AlexeyVedernikov 2 ай бұрын

@@MatSorensen Thank you for your answer Mat - This a big help! … although I still need to understand what did you mean by baking the depreciation 😇

@MatSorensen 2 ай бұрын

Whoops, damn autocorrect, I meant to say you’d still be able to take the depreciation.

@johncross3697 2 ай бұрын

What if you’re part of a transition ownership team? An S-corp transitions from single owner to an LLC 5 person partnership? Some members are taking profit interests by sole proprietorship and some by thier own s-corp. can they each continue to contribute to the company 401(k) that they contributed when they were employees, before the change?

@MatSorensen 2 ай бұрын

Yes they can. The s-corp partners s-corps would be additional employers under the 401k plan. You’ll want to update the 401k plan adoption agreement to add them. This is what I do in my law firm. My s-corp owns my share and my s-corp is an additional employer under the law firm 401k. I contribute to my 401k account under the law firm plan from my s-corp based on my w-2 from my s-corp.

@johncross3697 2 ай бұрын

@@MatSorensen Thank you Mat. That is an interesting solution to the problem - I'll discuss that with our plan administrator. I had hoped that by becoming an owner, and not an employee any longer, that I could roll over my 401k into a self-directed account.

@johncross3697 2 ай бұрын

maybe I can do both? Keep the 401k so I keep getting the match and the profit share of the plan, and roll over current funds to a self-directed account?

@JenniferStJHill 2 ай бұрын

If I join directed IRA will they help direct me to some avenues to PML or pick up some of these alternative investment options? Not saying they will "recommend" something, but to just at least give me the rolodex of what is even out there?

@MatSorensen 2 ай бұрын

Hi Jennifer, we don't recommend or even introduce. If you come to our conferences you'll meet lots of people and companies doing deals and its great networking but we can't make the introductions or connections directly. Of course, conduct your own diligence on anyone you meet.