Welcome BoomXers. Let’s throw out the old playbook. It’s time to tear down the traditional way of looking at your life and money and leverage the laws of money to our advantage. That’s right. There are laws of money and those who learn and leverage the laws of money win. And sometimes win big. Stay tuned as asset protection attorney, Darol, Tuttle, educator, and leader of the Boom X Nation shows us how. Beginners, investors, entrepreneurs, fellow attorney.
Are you ready? Are you ready? Let’s arm this bomb. Now, here’s the Boom X Show, The Laws of Money.
Darol Tuttle, your host. And we are also live on Facebook, Instagram and YouTube as part of the how to protect your assets during a time of crisis series. And march 9th or March 8th or ninth ish was w I think maybe I’ll look that up, but like the largest drop in the Dow Jones in recorded history.
And today Monday, Tuesday, we’ve had another historic rebound, one of the largest gains due to the stimulus package, offered by the government to get things back on track. And so it doesn’t matter what you think about the chances of economic prosperity in the next six months. That is statistically, that would be one of the most volatile months in recorded history volatility, being a measure of the ups and downs of wealth as tied to the market. And man it’s alarming.
And now, as it turns out, I don’t think that live broadcasts on Facebook. It was really. Just because of the amount of time I’ve already spent trying to configure all of the equipment which I find to be distracting.
And so I’m constructing my first video that will become a podcast. So this whole concept of life, But yesterday’s live was a live. And I hope I can get back to that. But I can illustrate concepts better with video through illustrations. So that’s can take a little time. However, yesterday I was doing the first live.
The stock market was making an amazing rebound. So on March 8th, a historic drop yesterday and a historic like one of the top ever in the Dow Jones bounded back. And that just proves volatility and volatility, economists will tell you it is a bad sign, causes, insecurity. It’s harder to predict. It’s hard to control.
And the reason for the bound was rebound was a stimulus package. Congress is putting together of $2.5 trillion. That’s amazing. However, will it work? Will it work when we are in completely uncharted waters? To give you context, I will just point out just one, an anecdote. It’s bad to reason by anecdote.
However, let’s use our noggins. We’re grownups. We can do that. If we want to, we can make our own conclusions. I’m a big Disney fan. I’ve gone to Disney. One year, my family and I went to Disneyland four times in one. And the reason is because my kids, man, they’re so different. I take one kid, I take the family to the beach one, kid’s happy.
The other kids not take them to the mountains. It flips, one’s happy. The other was miserable. Disneyland, everybody gets along the happiest place on earth. My wife and I went to Disneyland on our honeymoon. So it’s not just because of kids. And so Disney is that’s a great place. But I’m not so naive as to think that Disneyland is all about like their motivation is spreading pixie dust around the world.
That’s come on. It’s an amazingly successful profit driven corporation and it is halfway through a two week closure that could be who knows how long it, the rest of the world is just now at the United States. For example, as I or record this, my state, Washington state just now issued the quarantine order.
So who knows. Now, so this profit driven corporation, somebody not the president made a decision to close it. Wow. That’s impactful. It’s impactful because Disneyland has only closed three other times in history. And when you think about the three occasions, it drives the point home. Just think about I’m going to, I’m going to list them and just think about the momentous events that these days represent to cause Disneyland to closed for a one day.
The first I should back up and say that, like Disneyland was opened in 19 in the 1950s, Ronald Reagan himself presided as an emcee. He was a young actor at that time, but he was one of the celebrities and he can be seen in her, like with his microphone and announcing all the dignitaries that’s coming through Walt Disney had his opening day speech.
Did you know that when you go to Disneyland and you are in new Orleans square waiting for the train that goes around Disneyland, that the ticker tape sound that you hear in the square is Morris code of Walt Disney’s. Disney’s opening speech. It’s trivia it’s in my head. And so it just a joyous, happy place that’s known for profit driven resilience with that said fast forward to 1963 from the opening day.
Maybe 10 years ago. The assassination of John F. Kennedy was one of the momentous, tragic events that caused Disneyland to close. For a single day on a PM. Flash, apparently official president Kennedy died at 1:00 PM central standard time, two o’clock Eastern standard time, some 38 minutes ago. The bulletin in is that our correspondent in Dallas, Dan.
The second day that caused closure was the 1990s earthquakes in California. And the third was arguably the most tragic day in American history. And I don’t even have to tell you, we’re looking at obviously a very disturbing live shot there. That is the world trade center.
And we have unconfirmed reports this morning that a plane has the entire food services industry is basically reduce staff to practically shut down and the fallout is going to be amazing. Not amazing impactful. And so I just need to say that there’s nothing in this podcast, this webinars series, that’s going to prevent the stock market from collapsing or crashing or falling or whatever.
And the purpose of this is not even to give an investment of I certainly, but the purpose of the webinar is to, and the podcast and all the messaging that I have in me is to help people quickly get a better and build a better permanent diversified roll with the punches asset protection plan and system.
Not even a plan, like a true system in place. I plan to give away a lot during the next 30 days in terms of free bonuses so that people can get started without the need of an expensive attorney. I know because I’m an expensive attorney. I know what that means. And in addition, I am going to reveal legal secrets, that, and my definition of a legal secret is simply something that is important.
A legal principle, a construct, a strategy, a law or rule that is important. And can be impactful to your wealth in a negative way or a positive way if you know that the secret, but has been difficult to comprehend or is obscured either intentionally or negligently. And let me explain that. So if you look at look at the financial power of attorney.
Now, there is a provision with a financial a power of attorney, which I will reveal tomorrow in tomorrow’s broadcast. And hopefully allow a turn over to you, the ability to have your own power of attorney for free. Let me repeat that. There is a provision in a power of attorney that for tomorrow’s live, I will explain in more detail and the importance of that principle.
And I will also turn over to you my drafting application so you can draft a full power of attorney, which is the beginning of a contingency plan for free. Now, why would I do that? That’s a good question. We’ll hold off on the answer to that question. It’s so cool. I don’t even want to dig it up because I’m going to leave it here.
To see if I get a snarky comment about it. Like I’m going to put it here. Now, if you’re listening to the podcast version for the record, your honor, please note that I have a boom arm holding my microphone and there’s some electrical tape dangling in front of the camera for my jury rigged. Just listen to what I’m saying.
Don’t look at the screen provision with that power of attorney. One of my competitors charges as much as $1,800 and clients pay that amount because she constantly emphasizes the value proposition of that provision.
What we’re trying to accomplish is to get the legal secrets revealed so that we can later in a few episodes here build a system for you that includes everything that you need to protect your assets. I’m not sure if I can pull it off in 30 days, I’m going to try, I’m going to try to do it in 30 days and give you the tools that you need with different options to have it all.
Now what’s the value proposition in terms of money. You want to know about $10,000 more or less. Let me repeat that. In my career, actually I think that at one point in my career I charged about almost $15,000 for an asset protection case. And as I became more automated, my prices went down.
And when I’m rolling out to you is not a crisis case. Proactive plan. It’s like, how do we do it when we’re not yet losing everything? And I’m hoping I have can get this out to you in time. But up to 8,500 bucks is what I charged for this system and the work product that I’m going to describe to you a little bit every day for 30 days and give you the tools you need to put it together.
Now if you’re like one of the people there’s probably what three people watching me and I have 45 more seconds at most to lay that out. The value proposition in terms of dollars is about 8,500 bucks. Some lawyers charge a lot more, but if you can invest some time. I’m going to try to make it as entertaining as I can and be as responsive as I can in a way that is productive as I can, that’s what I’m up to and the place to go.
I’ll post it, but it’s boomxshow.com. That’s boomxshow.com. And that’s the home of the podcast. The best way to learn is not by watching me here live on Facebook what I’m doing is I’m still struggling with, I’m still struggling with like how all this equipment is going to work clearly.
Where’s my tape. Clearly I’m struggling with the equipment and also the different platforms. So it’s distracting and it’s confusing, but on the podcast, it’s just my voice and there will be a little bit of editing. I’m committed to getting content out at the expense of highly produced and highly polished podcast episodes.
That when I produce the podcast episode, it takes eight hours and we’re, I’m not going to do that. We’re going to put stuff out raw. And I’m going to do a lot of content. You’re going to feel like you’re sipping water from a fire hydrant, candidly. And so legal secrets revealed. Now here’s step number one.
This is the foundation from everything that we talk about from this moment on will be based upon this framework. And the framework is spec, S P E C. The spec framework. Write that down. And spec stands for sufficiency policy education continuity. I’ll repeat that, sufficiency policy education and continuity.
Now, what the heck does that mean? That those are the components of an asset protection system. Like the broad topics that upon which everything will stand or sit sufficiency policy education and continuity. Sufficiency is whether or not we have met the requirements of the law. That part is the part that’s 8,500 bucks up to 15,000.
Do we have a plan that includes legal documents, essential documents in place that meets the law of requirement. If your estate is over 2 million, it’s taxable in Washington State. Washington State has the highest tax rate. If it’s an Oregon, it’s a $1 million. If it’s over 1 million it’s taxable, although the federal government has a $20 million limit. States have inheritance taxes and estate taxes.
And so have you met the laws requirements as to tax as to transfers as to Medicaid eligibility. The problems that all humans face in or out of a pandemic or crisis or times of prosperity. And that’s going to be, there’s a lot of heavy lifting in that section for the next 30 days. That is the section where we will spend our time.
However, it’s the entire framework. Let’s just go onto the second part of it. So policy is a reference to investment policy statement. We need to match the legal plan to the financial plan. The next is education. One of the biggest mistakes people make I’ve made in my practice is I did not adequately bring younger family members into the plan.
They have to know so that they can make the right decisions because one day your son or daughter has to pick up the file. One day, your son or daughter is going to inherit this money. They have to know what to do. I have no idea why in the law, we decided to wait until the asset owner died, like surprise we’re going to read the will. Here’s what you get. Let’s keep it a secret.
And so I watched star wars last night, the last episode and every single star wars movie. The hero is trying to get to the bad guy. And there’s like a surprise attack that, the rebels are doing at the same time.
Young Rey is trying to get to the emperor and kill them. Good against evil on two different channels. One is the massive macro channel. And once this thing now in the massive fleet channel. They’re always surprised oh my goodness, rebel fighters have shown up. What are they doing? Like every, they can’t even believe it.
And ultimately this surprise is so successful that they’re defeated on the evil emperor side. The one on, he always says, Oh, yeah. Young Rey, I foresaw that you were coming and now you’re here. You think you could have told your team, evil emperor. I know you’re busy, they’re sitting there looking ugly, but like maybe let the fleet know and it’s ridiculous, but that’s what we do in the law.
When it comes to asset protection transfer, get to make healthcare decisions for your mom, surprise you now get to decide you now are in charge of administering all the wealth of the family because dad died, surprise. And so education is bringing those kids, those younger family members into the plan early so that they know what’s going on.
Now okay then continuity. Continuity is family decision-makers. No, we don’t have to go into, don’t try to understand it, but there’s a framework, sufficiency policy, education, continuity. We’re going to put into place the legal plan. We’re going to put into place the financial plan. We’re going to make sure that the financial plan is mandatory by putting it into and incorporating it by reference into the, to the trust document or the will.
We’re going to educate your younger family members or yourself like what is an annuity? Here’s how it works. Don’t be afraid of it. What is a bond, a stock, what is the family vision? What is the family plan and get them emotionally invested? So they’re like shareholders in the plan and can execute it.
Let me repeat that. Like what organization in the world would have a plan and then not let the future leaders of the plan know about it and give them the training and tools that they need to execute it. None. The only example is your family wealth. It’s ridiculous. So we’re going to correct that.
And then finally, we’re going to make sure that this plan and system continues to operate exactly the way it’s supposed to for as long as the money last with 100% certainty. Your money will last longer if you put into place. This system, regardless of circumstances, spec S P E C. That’s the framework. All I want you to remember for now is that there is a framework and it has four parts.
I don’t even care if you can remember what they are, just the vague concept. We’re trying to make wealth last longer. Then it would otherwise possibly more than three generations regardless of what the president says. So I’m going to conclude for now. It was a shorter today. Tomorrow will be even better, but we’re going to be focused.
You can go to boomxshow.com to register here’s what’s happens if you register. First of all, you’re going to help me out because I’m going to try to record these from zoom and I can stare at my computer screen and you can ask your question. That’d be nice. Not, you’re not gonna be on air. We won’t see your face.
We won’t hear your voice, but you can text me a little question and I can answer it. And then the second thing is, that’s how you can learn about the podcast because. You can always go back and listen to the podcast what I said, and you can get a better link to the resources and reference that I will mention.
So again, the plague was bad. Lawyers came up with a solution that solution still exists. You would be wise to take a page from that playbook. Next, there’s a system of asset protection I’m going to teach you. And that system has four parts sufficiency policy education continuity. All I want you to remember is that there is a system and a framework.
Tomorrow, I am going to reveal the first legal secret. My competitors charge eight one charges, $1,800 for this secret that I’m going to reveal. I’m also going to give you that secret to you for free. And if you think I’m kidding, you just watch tomorrow. I dare you to come back. Okay. I’m exhausted already. That’s it for today and we will see you soon.
