Gyroscopic Investing

Thanks for pointing out that for most of us, an umbrella policy works just fine.  However, as you move up the food chain, it does become increasingly more important to use LLCs, trusts, family planning, etc, as a means to protect your assets.  There are a lot of sharks out there, and the wealthy need protection so that anyone walking on their sidewalk doesn't file a slip-n-fall lawsuit and take their entire net worth.

ahhrunforthehills wrote: Actually, it is my understanding that IRA are not always fully protected.  It depends on your state.  In many states IRAs have less protection than pension plans and 401(k) plans.

That is correct.

Qualified retirement plans enjoy slightly better creditor protection than IRAs.