Hey Mark/Matt,
I’m 33, live in California, have no major assets (just a car and some stock), and have a W-2 job. I don’t have a side-hussle (yet) but am really interested in “investing in myself” to better my future. I’ve listen to the podcast many times and albeit helpful and very interesting, I don’t often know where to start. My goals by the end of 2023 (hopefully sooner) is to have the following:
- Setup a Trust (The Legendary Trifecta!)
- Setup Will if that can be done at the same time.
- Setup a Self-Directed IRA
- Move existing 401K accounts (current and past work 401K’s) to Self-Directed IRA (if possible?)
- Start investing into SD-IRA
- Move assets (car, stocks in brokerage account, etc.) under Trust
- Possible Current Tax Saving Investments?
- Currently in Tax bracket that I am starting to find myself owing Taxes even as claiming Single 0. I don’t have enough write-offs.
My question is where do I start and how do I go about it?
Also, as I start to build up the side-hussle (when it happens), I would like to know if I should think incorporating that within the Trifecta or just start the side-hussle and worry about it later?
Any help or info would greatly be appreciated!!
P.S. - Love the podcast and the relaxed atmosphere you guys have on the show. You make Financial Tax Laws and Issues seem less scary.
Thanks!
Ben