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Retirement Discussions / Retire Well on Less
|Subject: Re: Judgment proofing investments||Date: 9/28/2007 10:06 PM|
|Author: theHedgehog||Number: 1096 of 1491|
I may be misunderstanding but it seems like you're asking two questions, one on insurance (or did you mean that metaphorically?) and once on judgement proofing.
My only interest, with this post, is with judgment proofing. The insurance comment was just a reference to holding enough insurance to protect against any likely judgments, not as an investment. I believe that there are some protections for insurance vehicles, as well, but I have no interest in them. As to the investment mix, etc, I've done the math and am satisfied with my investment mix and withdrawal rate.
I was just looking around a bit on the web, and this subject seems to be the realm of survivalists and tax scofflaws. I couldn't find much about legitimate asset protection that wasn't either "bury your gold in your yard and guard it with a gun" or some offshore investment scam. Looking in my state's statutes, it seems like they have most things covered(prohibited); including a limit of $10,000 on your homestead. Retirement accounts are protected, but it looks like I have to have income to be able to contribute. It's a bit late for that for me, in any case, at age 55.
At a guess, I'd say that the legislators didn't really contemplate the amount of wealth that would be tied up in protected retirement accounts, when they gave them protection. Another observation would be that there seems to be a strong prejudice against anyone having any actual wealth that can be accessed during their productive lifetime. I'm caught in that limbo where I have health problems and can't work, but have been unable to get a disability classification from the Social Security Agency.
Not that 0.42% is life and death, but does VGK have some major drawback relative IEV that I'm not aware of?
I'm afraid I can't help you. A fraction of a percent doesn't tempt me to pay capital gains taxes to switch, so I haven't looked into what the competition is for IEV or any of the other ETFs I have.
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