Trifecta Wealth Protection As Crypto Hits All Time High w/ Mark J Kohler

Hello everybody. Welcome to the Friday live stream. We're doing something a little bit different because today I think is an important day. We're seeing all-time highs. The market is expanding. So I had to bring somebody in here who could talk about wealth preservation and also some things about who this is ought to be left to.

Uh, welcome to the show everybody, Mark Kohler. Mark, welcome to the show for the first time. Oh, thanks for having me. I'm so excited to be here. I can't uh, wait to be with your group. I'm gonna wow you and your followers. I promise you, Rob, it's going to be freaking awesome.

Well, I think this is something that I have neglected and I'm glad that you're here, especially we're talking about wills and trust, who this gets left to and the wealth preservation effect because right now it's great that everybody's in profit, but what comes next and should we have been planning earlier? And also, for everybody who doesn't know Mark, there's a link in the description. He's got a very big, grandiose following, really popping off over on YouTube. And then also there's a great uh, website that I linked in the description as well. And as a point of reference, Mark is a uh, CPA and lawyer and he's brings with him a wealth of experience. So Mark, let's just jump into this because people's time is precious.

First of all, let's talk about the markets. Markets were hitting all-time highs. Bitcoin, Ethereum, little project called XRP, and we're at a market cap of $4.3 trillion. And things are looking pretty fantastic. So my question first of all is twofold. Do you own any crypto? Which ones are they? Why did you get into them? And then we need to talk about where this is all going to and then how you deal with wealth preservation.

Ah, you bet. I love it. Um, yes, I own this little coin called XRP predominantly. And uh, my wife and I are probably 75% of our portfolios in XRP, 25% in Soul. big believer in soul and the backbone on the blockchain. And we started in this process six years ago, seven years ago. Seven years ago when a client walked into our law office and said, "I want to buy Bitcoin in my my Roth IRA. How do I do that?" And we're like, "Damn, I don't know. We're going to figure it out." We bought a Bitcoin in a Roth IRA when it was 3500 bucks. Wow. And so that's been our claim to fame is making sure we own our crypto in our Roth IRA or Roth 401k as much as possible. And my wife and I have a 7 figure XRP soul portfolio right now completely tax-free and our Roth IAS pretty good Roth IAS. You can't beat those.

Yeah, drop that mic because that's I think a lot of people right now in in the chats are going, you know what, I'm up x amount of percent. I'm very happy. These are really good. But then we start to think about, hold on, wait, is it short-term capital gains? Is it less than a year? We're talking about long-term capital gains. How much am I what's my unrealized uh, profits? What's my unrealized losses? And before you know it, everybody's kind of they don't think about that part. I think people get in trouble. So, I guess that would lead us to the next part, which is there's some videos that you did, a great series where you talked about wills versus trust because I'm going to do a quick quick amount of math. Check me here. But I believe that 100% of people watching this show at some point will pass away. I'm pretty sure that's that is correct. Matt, what a prediction. You're amazing. Yes. Oh, my predictions. People know I'm I'm undefeated. But because they are they will at some point pass away. Have we really thought about a will versus a trust? Which one is the better one? the differences that they have and also a bigger uh, explanation is are they private or not private and then I also like to get into what you call the trifecta system uh, which is how the rich avoid taxes. So I wanted to start with this one with the u, the wills versus trust because it is the base for your trifecta of how how to engage in wealth preservation. So if we could just start with the first one.

Yeah, you bet. and and and let me set the perspective for everybody here. There's three things I'm trying to bring together. I'm trying to bring in tax savings, asset protection, and your legacy. And if I can bre those three things together, we we've now hit a home run. And because some people do dumb things to save taxes, and it doesn't make sense the way we're going to leave it to our family by chasing our tail with taxes. Then we go do kind of crazy asset protection and we screwed up our willer trust or then we all we do is focus on willer trust and we so we want to bring all three together and that's where that trifecta comes in right so the foundation of all this everybody is what is our legacy where where's all this going to go what's going to happen we're going to die what's the plan so 50% of Americans don't even have a will I'm sure many of you listening odds are 50% of you don't don't even have a will Oh, I can predict that one. So, what does that mean? A will is a document that says, "Here's where everything goes when I die. It's great. Get it notorized. You could have it goldplated. You could get it signed nine times. Here's where my stuff goes. But it's still going to go through probate. A judge is still going to approve it, and everybody in the world gets to see what's in there. Period. That's But at least we know where our stuff goes.

If we do a trust now, I get to say, "Okay, here's where everything goes, but I can give it out over time. I can say, this kid or this family member, they should get this dripped on them because they really haven't uh, understood what money is about or life experience. So, we can give the when and the how. And then we can keep your life a little more private. the trust becomes the owner of all of your stuff and privacy or camouflage is very very helpful. And then finally, we can avoid probate. There's no judge involved. We can save taxes with the government. Uh, a large amount of taxes, not completely depending on what your total portfolio is, but we can save taxes. We get privacy and the who and the when. And trusts can be so affordable. Um, they don't have to be these crazy constitutional Rockefeller trust crap people. These are revocable living trusts. We're not doing it for asset protection. We're doing it to make sure what we've worked for goes to the right people.

Great. So, there's two things. First of all, talk to us Mark about revocable versus irrevocable trusts. The difference very simple so people can know. Then also there was an example that you gave about Robin Williams and his trust verse what he uh, did for a will and how that affected him and his family. So if you could just talk about those both real quick.

Yeah. So, uh, first, and we can in reverse there, the even Prince, the Purple Rain artist out of Minnesota, um, and, uh, Robin Williams, and we hear about it all the time on a regular basis, famous or wealthy people that just have a will. And regrettably, Robin Williams, such a talented man, uh, committed suicide and died just a few years ago, but all he had was a will. And so all of his assets, his family uh, legacy got drugged through court and his maybe family members that needed to not receive everything in one chunk. And and here's an example for all of you out there. Let's say you've got some money in your IRA, your 401k, you've got a house, you've got a little life insurance, and let's say something happens to you tomorrow, heaven forbid, and it's and we don't know when. Do you need your 18-year-old, your 16-year-old, maybe your 30-year-old that still makes decisions like a 16-year-old receiving all of your assets? That's pretty scary. But with a trust, you can say, "Hey, I'm going to drip this out over a third, third, third, and we're going to just give them assets over time as they learn and grow and and they can really um, learn to build wealth and you can pass on a legacy in a more organized way." So, that's what we're really trying to do.

Yeah. Pretty great. I mean that's important because like I was in the health care field for two decades and I would see you know when people would pass away mo sometimes a good amount of times there was no problems but as time went on I would see some of the parts where it would be like just an allout war with the families so there's there's that and then talk to us real quick about right right okay and then talk and then talk to us about probate verse I'm sorry revocable and irrevocable yeah yeah so everyone Everyone, this is so important because today we're going to talk about this crazy Wyoming LLC that gets oversold on the web. We're going to break some myths down there. I want to give you some kickass tax strategies. We'll hit asset because we want to bring all three together. See, again, that that we're going to lead with this foundation right now, everybody. It's important. And I'm going to say all of you right now, you've got to have at least a handwritten will. At least sit down and do it. It's called a holographic will. You can get on AI, find out what the rules are in your state, write this damn thing out, and at least get your will. I want to challenge all of you to do that. Give a copy to your family or lawyer or whatever.

But the revocable living trust is just what it sounds like. It's revocable. You can change it. I had a client that he get drunk every Christmas and he'd be like, "All right, this kid's cut out and then all right, you're and then next Christmas, okay, you're all back in." And we're like, "Dad, whatever." You know, like they just it was just crazy. But you can change it whenever you want. Divorce, good kids, bad kids, problems, uh, your wealth changes, you can change it. Irrevocable, it's irrevocable. That's the freaking term. And so, you can't change it. But there's scam artists out there. lawy I hate to say they're sometimes called lawyers and they'll sell these irrevocable trusts because the Rockefellers and Delaware this and all this expensive and they're 20 30 grand or more for these expensive trusts that are irrevocable and yes it might give you better asset protection because no one can get into it including you. It's going to be hard to use it. You've got to pay people to be the trustee. The taxes are terrible. If anybody's selling you on an irrevocable trust, get a second opinion. I'm not saying they don't work and they can be important in certain situations. A family ranch, a family farm, certain types of assets that you want to lock down forever, but it can cause a lot of problems. So, be careful with irrevocable. Revocable. Everybody should have a revocable trust. We're charging two to three grand, any state in the country to get a a basic estate plan, revocable, you can change it. Husband, wife, kids, no kids, young, old, get it done, people, it it's it's not worth the recklessness.

Yeah. Right. You just said right there, because when people hear the word will, okay, I can do that. That's pretty easy. I'll write it down. Right. When we hear the word trust, especially when you haven't set one up, you're thinking to yourself, okay, here we go. Tens of thousands of dollars. This is going to be some exorbitant amount by lawyers. You just gave a number right there around 3,000 2500 3,000. Yes, that's our we get probably 70% of our clients taken care of for two 2500 bucks and and and um I think I've got several of my team members are always I've got a huge YouTube like live on too as well. They're probably there. I'll put down a link if you want to check out our law firm. But it shouldn't be a pressure. It shouldn't be a scare scary scary sales pitch. Shop around. But 2500 bucks is where you got most of our clients done. Now you got a lot of stuff. We're going to it's going to take a little more money or time, but I don't think we charge more than five grand ever for an estate plan. So shop around folks, be careful. Not too bad.

Okay, so that takes care of wills and trust, which is great. Now I think let's just move on to we're talking about the trifecta, a little wealth preservation because right now this is a pretty should be a hot topic. So let's take a let's take a look here. What is this?

Yeah. Come back to me and I'll go to my whiteboard. Let's do it, man. So, okay. Over here. I'll step up here. So, I am so glad all of you are here because I want to give you really I'm not kidding. I've shared this with clients that are worth a hundred million dollars and brand new business owners in their early 20s coming out of college. New dentists, doctors, anesthesiologists, landscapers, realtors, brokers, people. This trifecta is the way to build your future and wealth and bring it all together. And if you can see it, you can believe it. And if you can believe it, you can do it. It's just too many professionals make this so complicated. All of this tax and legal crap. It doesn't need to be that way. All right. So, here it is. Down here, we've got our revocable living trust. And think of this also as your 1040 tax return. This is where all of your income during the year and write-offs are going to come together. All roads lead to your 1040 at the end of the day. and this is your legacy and where you're going to leave all your assets the way you want to your family now while we're alive and well and we want to be able to change that but we're going to divide your life in half and we're going to put your operations over here so this is earning money I'm going to go out maybe you have a W2 day job you or your spouse you've got a cool 401k with some matching you got benefits whatever or you're an entrepreneur you might have a single member LLC See, and you might be one of the 40 million Americans with a side hustle. You're getting 1099s, la. But when you start making more money, we're going to move that into an SC corporation. If you're making more than 50 grand a year in your small business, you're getting killed with self-employment tax. And we do not want that. That brutal FICA, the F-word, FICA, spit on. I don't like FICA. So, we're we're going to move that over to an S Corp. And the escorp allows you to take a little salary and push the rest down here to your 1040 in draws or distributions. Every dentist, doctor, accountant, lawyer, realtor, broker, contractor, landscaper, online influencer, we're all freaking escorps. It is not high risk. It actually reduces your chances of an audit. I stand behind this in all of my books, my videos, my podcasts. I teach other accounts around the country. people, if you're hearing different than this, you've got a bad advisor.

Now, I get so excited, Rob. Thanks for your patience. Now, no, no, it's great. Okay. Now, then we're going to come over here and we're going to put our assets over here. This is where we're going to put our property, our crypto, our real estate, and we're going to maybe have an LLC. Well, everybody body. I think that's either I lost Mark or Mark lost me. One of those two. Let me check. Look real quick to see if uh, if we're all frozen. Let's see. Am I frozen? Can everybody hear me? Or is it uh, everything that is frozen? Ah, looks like it's me. Huh. Anyhow, can everybody still see me? Okay. Well, great. I don't know what happened there. Okay. Well, good enough. Well, let's let's wait for Mark. I got to tell you that was uh when he was talking about the the escorps and then putting everything into the the wills and the trust, it made a lot of sense. And these types of things, I think, are important to learn about as soon as we can because these are the things that that go through. So, let's just bring Matt Let's just bring Mark on there and we'll Okay. This is This is great. This is so much energy. You shut down the uh, the feed. These things happen. Yeah. Yeah. The universe said, "Slow down, Coler." All right.

Well, here. So, over here on this side, and I apologize, we got to this part we froze, right? Assets. Yes. Assets. Assets. So, this is our trifecta where we want to put our assets over here for protection. So now think of this everybody. We covered legacy. Okay, we're covering legacy. We already did that. Will, trust, all that. Get organized. We're going to build on top of that. Now for asset protection, I want to put my operations over here and my assets over here. See, if I'm a if I'm a realtor and I'm out there doing business and I've got my escorp going, my escorp should own nothing. I don't want it to own any assets. It's just where money comes in. I want to take all my write-offs. Cell phone, dining, travel, computers, electronics, anything I can write off and I'm going to save taxes over here. So, I've got a tax plan for my operations. But my assets are across the river, across the wall. And over here is where I put my rentals, my Bitcoin, my investments. And now I can create barriers to protect me from rental property or protect assets. from me texting and driving and whatever risk I might be creating. But my trust owns the LLC, my trust owns the escorp, and there's my trifecta. And so a perfect example would be over here we've got a landscaper. Over here we have a building. Boom. Bada bang. The trifecta. And so we start to operate this way and say, "Where am I going to put my crypto assets?" And if I'm creating capital gain now, I can share two or three strategies on how to save taxes on my crypto wealth. But if I'm over here in my operational business, I'm going to use a different strategy for that. Crypto mining, staking with nodes, driving Uber, whatever. This is ops where your ass is doing the work. Here your assets are doing the work. That, my friends, is the trifecta. Got it?

So let's break that down just a little bit more. So give us a give us an example because everybody here is a big believer in crypto digital assets. What do you want to say? So let's say that we'll take Jennifer Moffett. She is uh accumulating let's say whatever digital asset it is. How can she minimize those capital gains taxes by using this trifecta besides of saying like doing like a Roth IRA or something like that?

Well, I am actually going to try to make everybody by the end of today take the pledge, the tax-free crypto pledge. And I'll tell explain it here in a bit. But, okay, let's start here. Take a breath. Maybe that's more for me. It all if we're going to hold crypto when we go to sell it, it's one of two things. Short-term capital gain, long-term capital gain. That's it. Right, people? There's no special crypto tax. There's no like, oh, I get a special treatment because I'm smarter than someone else. There's none of that. Either you hold it 12 months or more and it's long-term capital gain or it's not. It's one of the two. Now, short-term capital gain sucks. It's going to be anywhere between 10 to 37% plus your state, you're getting killed. Yeah. And so if you're trading, and I know many of you continue to buy every day or trade a little crypto here or there. Every time you trade, you're taxed. Well, I didn't go to USD. Doesn't matter. You trade sold for ETH, you get taxed on the ch the value difference of what you bought it for versus what you traded it for. Long-term capital gain, I may have a max 20% plus ACA or Obamacare of 3.7 and then I get state. So the bottom line is many of you are going to be at least paying 30% in tax every time you sell something minimum or worse. Okay.

So with that as our baseline, three strategies. You're going to love this, Rob. Three strategies. I can either defer, I can offset, or I can avoid. And I want to use all three of these together or one of them. And it's going to depend on my situation and time. But let's talk about it. A defer means Mark, I'm going to make a million dollars. My cryptos rolled up. If I'm making more than 500 grand or a million on a large crypto portfolio, I want to sell it taxfree and defer the tax over time. And if I can con sell that crypto, continue to invest it and get income for the rest of my life and pay taxes, I get it, but not all at the front end. Now I'm in business. Now I've I'm still investing, but I've asset protected it, saved taxes, and deferred it. And that, my friends, is a crut, a charitable remainder trust. I love the crut. You transfer your crypto into this trust. It sells it tax-free. You continue to be the trustee and invest it and continue to grow it. Every quarter, you get a distribution. When you die, it goes to charity, but during your life, you get complete access. You could buy a little life insurance for your family if you want to, and you get a tax deduction when you do the whole thing. It's called a crut. We've done hundreds of these for clients around the country with crypto assets. We love them. They were originally for real estate, but we're using them for crypto. So, this is a defer strategy. I'm deferring my gain over time. You're going to spend five to eight grand doing one of these, but on a million bucks, I'd rather do that than give the IRS 300 grand. Now, I keep my million and I keep investing it. That's number one. What do you think, Rob? Thoughts on that?

First of all, when you Well, there's two things. First, you were right. I am going to like that and I did like that. The second thing is when he talked about, you know, if you're going to keep investing into crypto, here's the thing about crypto. It is like that scene from The Godfather. I try to get out, but they keep pulling me back in. And you can't stop it. So, for everybody out there, you know what I'm talking about. You know what I'm talking about. As we've gone through the bare market, we dollar cost average. we've been stringing on the things that we do. Once we sell and we take those profits like we talk about, you're going to get back in at some point and people say, "No, I'm not. Okay, for the 1% I'm not talking to you, but you're going to get back into it." So, that strategy that the first one I could definitely see that working pretty well. So, let's talk about this offset.

Okay. Now, the offset I love as well. Now, think of this everybody. When you go to do your trifecta, this is why it plays into this. What we're trying to do on your tax return is take all of your pluses and make a smoothie with all of your losses or write offs. So, I want to take a ride off over here and offset it with a plus over here. I want to take a ride off over here and offset it with a plus over here. So, we're trying to create this big smoothie on your tax return. And if I have the right plan, I can bring the whole thing together. Number two, we don't want to go get a ride off and do something stupid like, "Oh, I want a ride off, so I'm going to go buy a truck or something that we think we can get a ride off with." We're told that we can set up a Wyoming LLC that will save us tax, which is It does not. And I'm going to go get a ride off that doesn't make financial sense to save tax over here. We don't want to do that. So the goal is to make a good investment that creates a write off and allows us to pay zero tax and continue to build wealth. Right? Okay. Right. It's possible.

Okay. So here's a classic example. Let's say I've got 400 I'm selling 400 grand of crypto, let's just say, and I bought it for a 100red grand. So I have a built-in gain. We call that a big of 300 grand. So, I'm going to pay tax on $300,000. Here's the sales price. Here's my basis. 300 grand. Now, based on a even just long-term capital gain and state tax, I'll probably write a check to the IRS for $100,000. How many of you would like to write a check to the IRS for 100 grand? Right? Makes you sick. So, this is our beta. What is our option? What I would do is say, okay, when we sell that crypto, let's diversify. We're gonna get back into crypto, but I want to have a I need a ride off for 300 grand. See, this is our target. So, what I'd love to do, and hear me out, a lot of my crypto investors start to discover real estate as an incredible offset and a balance based on the market. It's another diversification with a different asset class. And I'm not giving up on crypto, but I realize I need more stability. And so I'm going to find a balance. So I sell a little crypto and I go buy a short-term rental property. I see an Airbnb down the street down the way that I like and I go out and buy this short-term rental. And to buy a decent short-term rental, you might be out 600 grand. So you go buy the short-term rental for 600. You put down 200 grand, about 30%. And now you have a mortgage of 400. this thing is going to start cash flowing right away. I want to give a shout out to Daniel Rustin, the expert on Airbnbs. His books are phenomenal. You should have them on, Rob, because I have so many crypto clients that are investing in short-term rental property. And here's why. Under the one big beautiful bill just passed with Trump and Congress, I can depreciate this thing, whatever the building value is 100 freaking%. So, if I take the land value, I'd probably take off land value of 120 grand as land. So, that means I have a building worth 480 grand. That's the building. I can't write off the land, but I get to write off the building. And so, what you do, I'm almost done here, Rob. This is amazing, though.

No, this is this is good. This is good. Take your time. This is how it works. So, I buy the property. I'm going to pop it on Airbnb. I'm going to create cash flow. It's a smart investment. I want to find somewhere I can put a little equity into it. Work on it a little bit here and there maybe. And then I can do what's called a cost seg analysis. Cost segregation analysis. Probably run you three to five grand, three to four grand. Mhm. Engineering services comes in and they say, "Okay, this building is actually made up of three-year property, fiveyear property, seven-year property, 15 and then we're going to depreciate the rest at 27 12 or 39. 39 years is what you do with a short-term rental. So, this kind of sucks. I've got to do that over time. It's called depreciation. But this property I get to write off under the one big beautiful bill 100%. Now the average on this is around 35 to 40%. 40% of 480 40%. We're looking at 192 grand write off. So $192,000. I buy a short-term rental with my crypto sale and I get a $200,000 write off. Right? Maybe I now I've offset my gain. So if I can, here's the trick everybody. If I'm going to sell a little crypto, a portion of it, I'm going to reinvest, use some leverage, create a cash flow property, get a kick-ass write off for more than the cash I even put into it, and then I can build wealth in another asset class and offset my gain. I can do it with oil and gas. I can do it with small business. I could do it with Turo or Waverly. I could buy an RV and rent it out, take a ride off. There's so many options here of buying quality assets and offsetting the game.

Very, very well, very well spoken. So, real quick, two things. Mark, when did we meet each other? Today, right? My team and your team have been talking. Your people and my people, you and me today. Exactly. And uh, the whole thing about the rental properties is one thing that we talk about on the channel a lot or not a lot I should say just of course that is my that is my uh, background. It was medical, then real estate, then into crypto. And when I talk about these things about Airbnb and VBO and and the short-term rentals and even long-term rentals when you know when things go sideways, if they do go sideways, it is one of those cash generating type of businesses. And it's also great uh, especially for write-offs like Mark just talked about. And uh, I I couldn't agree more. It's just that when we take a look people in crypto right now, I get it because of like why would I do that? because it is just it's a pain in the ass. I don't like to, you know, have to deal with people. I don't want to deal with plumbing issues. I don't want to deal with the refrigerator breaking down. I want to deal with the customer service. I want to deal with all that stuff or short-term rentals. But when you look at it and we know that at some point a draw down is coming, either that be like a major pullback, a crash, or even a recession, you need some type of things that will give you what would be generating or money generating or cash flow. I got to tell you, I got uh for real estate, it is one of those things where it's like if crypto is doing great, fantastic. And if the if the real estate's not so bad, okay, real estate, back and forth and back and forth. And as a reminder, I'm just going to plug my my stuff real quick. Mark, I'm actually speaking tomorrow at the Puerto Rico real estate event. So, I'll be talking around around 12:20. I'm the only crypto guy there. So, if you guys would like to sign up, it's free. There's a link in the description and we're going to talk about a whole host of things, go into deeper about real estate, which is these guys are more of the of the experts experts. I'm just there to give my opinion on what I call blocks versus bricks. But anyhow, Mark, not to hijack that, but that was fantastic. Those first two. If you can follow up with the third one, I'll be very impressed.

Yeah. Oh, you got it. Now, let me I want to piggyback what you said. Everybody, I just got chills and a little emotional even thinking this. You were in a safe place with Rob, with me. I'm not selling some boot camp to Vegas or some $20,000 package thing. We're a traditional little law firm helping Main Street business owners around the country. My link's down there below, whatever. Do a free discovery call. We'll give you some ideas and thoughts that are affordable and make sense. Be careful of chasing something that sounds too good to be true. What Rob's talking about is amazing. Rental property is a great balance. And you want to know the trick to all this? Wealthy people buy rentals. Wealthy people buy crypto. Don't be a one-trick pony. You don't have to go out and plunge toilets. I teach classes on how to manage your property manager. You don't have to be I've got rental property I've for eight years I've never even been to and it makes me money. Now, so now do you give up a little profit to have a little handsoff? Sure. But is it still got a kick-ass ROI? Yes. So Rob, I just echo everything and I'm going to say this in this is for your presentation tomorrow. You're going to like this, Rob. When you go do the trifecta tomorrow and you talk about this, you say, "Oh, I was talking to this Mark Coler, whatever." Everybody in the real estate industry knows me like my my mo. But anyway, when you go into the holding side of real estate, everybody, there's five classes of real estate. And here's what it looks like. You've got short-term rentals, long-term rentals, self rentals, where you rent your own building back to your business, and then syndicate, excuse me, and then syndications. The fifth class is where you let your Roth IRA or 401k own the rental. So, I've got four different ways to buy real estate, and each one has a different benefit. Long-term rental, I gotta be a real estate professional. Short-term rental, I only have to put in a 100 hours in year one. I'm done. I get a kick-ass write off. Self- rentals, I don't even have to have material participation or be a real estate professional. Syndications, completely handsoff, separate ROI. And then my Roth and 401k never pays tax when it sells real estate. So, those five buckets are we what we want to be building. And this is what the wealthy does. Whenever they sell crypto, they're using some of those profits to redeploy and then go still buy more crypto. You've got a masterful combination.

Yep. That's that is a trick. I there's a couple I I had never heard of those. Interesting. But yeah, if you can do something where you have some kind of cash generation, especially as we go down the tubes as the markets do, it I think it's it's going to play into it. It's just it's just what hedge funds do essentially. They are hedging you against calamity. And if you can get that right, it's safer. Now, could you go out there and get into some meme coin and, you know, blow it up at 100x? Yes, of course you could. The chances though are a little bit off. And that's that's why we tried to talk about diversification. Be a little bit safer. Take those profits because no one everyone broke taking profits. Then listen to somebody like Mark who's got some uh, some background and some options for you moving forward. So Mark, what else do we got for this?

I'm gonna share this. I'll share this last piece and then if you want, Rob, open it up to your followers here. If anybody has a question and goes, "Mark's full of crap or I heard this or whatever," you know, I'm all for it. But let's get back to our goal here. I want to either defer my gains, I want to offset them so I get a plus and a minus in a smart way. I could use oil and gas, which I really love because now you're creating oil and gas royalties and the oil and gas market is booming. You remember someone in the White House saying, "Drill, baby, drill." Well, you get write off for investing in oil and gas rigs and real estate and in your small business. We have so many options to offset. Now, we get to avoid. Wouldn't it be nice if I just didn't pay any tax at all on my crypto? So, hear me out. Here's what I want to do. I know everybody watching today is going to either buy some more crypto in the next three months of some token they believe in with a little extra money. In fact, I know many of you as soon as you have a little discretionary money, you're buying. Or you might be trading a little crypto. You're going to tr sell one of your tokens to flip over to soul or ETH and then flip back to XRP or buy a little. You're you're you're playing you're moving the chips on the board. Here's what I would ask you to do. All of you in America in your trifecta, every one of you can have a Roth IRA. You could put seven grand in it and then come January put another seven in. If you're 50 or older, you can put eight grand in and another eight. If you have a small business, I can put it through a Roth 401k and get you up to 70 grand. If you're married, 140 people, a Roth IRA, I can throw a lot of cash in there real quick. So, hear me out. The next time you buy some crypto, don't do it. Let your Roth IRA do it. Ah, next time you trade crypto, right, Rod? So, the next time you're going from ETH to soul and you're going to go there, sell your ETH, take it take whatever tax bill is going to come through your Coinly software, whatever, and you're going to have a little tax there. That's cool. Don't go buy soul back in your Coinbase wallet or MetaMask wallet or wherever the hell it is. take one extra half a day, six minutes, whatever, and take the money, put it in your crypto Roth IRA, and let your crypto buy the soul. Don't you buy it. It didn't cost you anything. You were going to reby the soul anyway. Just let your crypto, it's called opportunity shifting. Harvard has a class on this of shifting wealth into other buckets to save taxes. Let's shift it over here. You'll never pay tax again. Wouldn't that be nice? Option one.

Okay. So, I got option one. And I got to tell you, it's a reminder that if you have a Roth IRA, as you're doing trading within that Roth IRA, those are non-t taxables. So, like for me, I have memecoins in my Roth IRA. It sounds ridiculous and it kind of is, but once you realize that some of these meme coins could do a 10x or a 20x, I'm not going to leave it in a memecoin. I'm going to be selling those like Mark talked about and putting those into probably a Bitcoin, Ethereum, some some other stuff. So, that would be the way to do it. And again, tax exemptions.

Yep. Now, I've got right here in my app. I could show you, but I got to be careful. We're online is I just looked at my XRP portfolio inside my Roth IRA. 300% return and it's all tax-free. I can take any money I put in out anytime I want, but the rest rolls. And some of you, I know, are going, "Well, I got to wait till I'm 59 and a half to get the money." Yes, that's the idea. And it comes faster than you realize. Now, do you keep buying crypto in your own name? Yes. But do you buy a little bit over here? Yes. It is completely asset protected. No one can touch it in a lawsuit. A Roth IRA cannot get taken away from you. Only the IRS or your ex-wife or ex-husband. That's it. So, okay.

Now, strategy number two. All right. Some of you are like, "Yeah, Mark, I Let's say you've got a little XRP portfolio of a hundred grand. You've got a 100 grand. You It's sitting in this XRP. Um, the built-in gain is serious. You like it's probably 4xed on you. You bought it for 25 grand and you've got 75 grand of gain in there and you're like, uh, what do I do? Well, if you believe in XRP like I do, we're just on the front end of this. This could be a $10 coin easily. So, this could be worth 400 grand in the next year. So, what do I do? Do I maybe rip the band-aid off and sell half of it? pay the tax on 37 grand. Mhm. And never pay tax again. So now I can take half of this money and drop it into a stack of Roth IRA, health savings account, 401k. You can stack these up. It's called the mega backdoor Roth. I've got videos on it. But I can plot throw 70 80 grand in here if you want and never pay tax again. So, do you want to pay tax on 37 grand now or pay tax on 400 grand next year? You get to choose. That's the trick. Short-term paying for long-term gain. And that's what it's all about.

That's what we've all been doing. And everybody's been talking, of course, to the bare market is that's what we do here. You know, we go through and we go through the bare market because we know that there's gains to be had later on. I think a lot of everybody almost everybody here is understands the whole thing about delayed gratification. So this is just taking that to the nth step and then actually dealing with the tax situation which nobody wants to be a victim of. I think there's a there's a reason why Mark is here is to help us to not pay so many god-awful taxes. So Mark, what do we Oh, and and before we go on, there's uh I know from your team they're saying, "Looks like we can't share links in here, so we'll get Rob all the info." If you guys are interested in anything that Mark is saying now, there's two two uh points of contact. First, you can follow him on YouTube, which I highly recommend. Bunch of just great videos that I've watched over I mean, at least over the last 18 months, and also his website, where you can uh sign up for a consult. I'm a business owner or I'm a professional, whichever way you want to do it, and go from there. Mark, is there any other way that they can get a hold of you or is that pretty much good enough?

Markjcoler.com is a great place to start. I've got an awesome YouTube channel and a podcast called the Main Street Business Podcast and the DirectedIRA podcast and you can set up a crypto Roth IRA in minutes. Go to directedirra.com, directedirra.com. You can set up a crypto Roth, a crypto health savings account, a crypto college savings account and buy the crypto there on an app on your phone through Gemini, which is going to have all of your main street mainstream tokens and you'll never pay tax again.

Now, I wanted to build for you here this a kind of a pretty uh trifecta. So, here's what I would say. Well, as as you go through that, as you go with that, Marco said you can go for that that type of Roth IRA or you can use it. Whichever one you want to go to, Mark, go ahead. Keep talking.

Yeah, we've got to get you as an affiliate over a directed IRA because, dude, we'll make you some money, your fellow followers some money, and the customer service is off the chart. You'd love it. We've got to talk to you. Okay. Now, here in our in our trifecta, everybody, check this out. We start to build this when we do a tax plan with one of my tax lawyers with you. Couple thousand bucks or less and they sit down on a phone and build your plan. So you we might have a diagram with your execution points and you've got your trust. It owns your escorp. Your trust is the beneficiary of your Roth IRA, but your crypto is now based in two buckets. There's your bucket and your Roth bucket. So, see, if I took that 100 grand in XRP and split it, now I have access to this piece at any time I want. This one's asset protected and deferred, never to be taxed again. Then, I'm going to take some profit from time to time and fund my short-term rental. And my short-term rentals are going to create other writeoffs and more cash flow. And that LLC is owned by my trust. So, we get this trifecta going and building my legacy all at the same time. And this makes sense, people, right? It doesn't have to be smoke and mirrors.

Now, the last piece, I want to get it on the table and I just want to answer questions the rest of the time. This freaking Wyoming LLC It is oversold. Some of you have bought one. I'm sure that's fine. We don't want to get rid of it. But here's what a Wyoming LLC does. It protects your crypto from you texting and driving. That's it. There's no tax savings, no state tax savings. If I live in California and set up an LLC in Wyoming, I'm still paying California tax. I don't get a ride off my home office because I have an LLC. They're lying to you. You will lose in an audit. So, where I put the the Wyoming LLC is over here. It's an extra LLC owned by my trust and it creates massive protection from the outside and I can put crypto in it. I can put some real estate in it. It could even own this LLC. I could buy uh it could be a different asset over here. It could be land. It could be a farm. So, I'm going to use this LLC for protection when I grow into it. And if I'm just getting started, I don't need to pay extra money for it. We set them up.

Every day. We can hide your name, get mail forwarding for you, get the asset protection going. Great. $1,500 bucks or less. Don't overpay.

But that's where the Wyoming LLC comes in. We don't use it for your short-term rental. Um, we don't use it for your S corp. It's a special asset protection vehicle that's uh on top of everything else. So, this would be a very typical trifecta. Maybe you're paying your kids, family members. You got your board of directors, board of advisors, building up your rental portfolio. It's a work of art.

Well, I can say, hey, you know what? Some people are a little biased, but it is really good. It is a good presentation and it's easy to understand because I can I can guess that when you were trying to put this together, you know, as time has gone on, it was probably like going over people's heads. But when you draw things out and say like, here's the bucket, here's how it flows down, it makes it makes a lot easier. So, thank you for that.

Well, then, um, before we go on the Q&A, yeah, the Q&A is here. There's there's a couple questions that that that come in. Uh, like France Mater here is from he's from Australia. So I don't think this is this is uh for me, but it sounds good. And then Yin says, "A great video even though I'm not from the US." Mark, have you, is it just US-based or do you do other things for international clients in other parts of the world, or is this just uh just for US participants?

Right now, if any of you international investors are buying assets in the US, we would love to help. You're going to need to have some structures here in the US. Some registered agent services, mail forwarding. We do have a digital scanning mail service. We can pro create asset protection for your assets here in the US. But tax planning is going to be very treaty-based. And for Canadians here, NAFTA is such a killer. It is so difficult. And so it's uh we're more Main Street America. Probably 90% of your followers are kind of the bread-and-butter day job small business owner in America buying crypto. What do we do? So, I apologize for some of you international folks that I can't provide more. There's some strategies there. Just get a second opinion every time. There's a lot of snakes out there in the woods. Gotcha.

And then, uh, a friend of mine, me, says, "Hey, Mark, do you have experts on Puerto Rico tax and estate law?" Now, of course, we're not estates, we're a Commonwealth, but uh I I I remember when I talked to to some of your people over there, they put me to this was for uh S corporation setup. They put me to another division, but do you guys do anything with Puerto Ricans or Puerto Rico?

Yeah, I don't know if you recall. We set up hundreds of S corps every year, every month, and throughout the year. We love the S corp strategy for any of you in any state. Um, on the Puerto Rico thing, Act 20 and Act 22. Yeah. I I think it's it's a great strategy and you need to work with tax professionals in Puerto Rico. Yeah. Um, and you need to create uh a presence. Obviously, I the only thing I would tell people is, man, does it sound sexy. Living in Puerto Rico, saving tax. You're doing it, Rob. I I've been to Puerto Rico many times. I love it. I don't like those sand fleas. You know what I'm talking about. You've seen those problems. No. Yeah. They're really annoying. Yes. But I will say you just have to have a wakeup call, everybody. You're sleeping in Puerto Rico. Your kids are going to school in Puerto Rico. You're living in Puerto Rico. Definitely for the most part. So, it's not something you can play around with unless you're serious about moving and being there for a while. I mean, you got to create some time there, too. But, it's an amazing tax strategy. Rob, I'm sure, has some great contacts on the island. It's a tax write-off to get over there and start investigating it. Start buying rental property in Puerto Rico for crying out loud. But be careful. It's a big. Yeah. And we'll and of course, guys, we'll we'll we'll talk about that later. Let's get into some of the Q&As.

So, A1 asks, "Can you move crypto you have now into a self-directed Roth IRA?" And I think the the bigger question would be like like you talked about, Mark, the um, backdoor the mega mega backdoor Roth IRAs. That's the bigger thing. The the question, I'll repeat it for everybody, is "Can I move crypto I own now into a Roth IRA?"

Yes. The question is going to be how much based on your structure, how big of your Roth bucket can I create? How quickly? And number two, you're going to pay some tax to do it. Now, don't now hear me out. Yeah, hear me out. There's people that are also converting their traditional IRAs or traditional 401ks to Roth and buying crypto. Um, and so either way, what we do is we look at your tax brackets. There's seven tax brackets and there's a couple brackets where the jump is 8 to 10%. And we we don't want to convert or pay tax when we're going to go into a higher bracket. So we what we call is chunking. We're going to make a plan and chunk at it. So, in your trifecta, if you have crypto in your personal name, we'll call it a B here. What we want to do is do it in pieces. Pay a little bit of tax, short-term pain, move it over to the Roth, and then just do it in chunks, and people before you know it, it starts to snowball and it becomes your favorite wallet. It is amazing. And so, be patient. I love the get-rich slow scheme. It worked wonderfully and it continues to work. Just listen to anybody like Nathan Rothschild or JP Morgan. They'll tell you exactly the same thing.

How about this one? Digital asset DJ defer for the for the for the defer part for the trifecta. When you die, can you only give half to charity and half to a family member or 25% to charity, 75 three-quarters split? How much can we give to the family?

Well, first of all, can everybody see me as we go through this? Mark was Mark was just about to rip into that question. That was a good one. Let's see. Uh, can everybody hear and see me? I'm good. Ah, great. And then let me ask some answer some questions as Mark comes back, which happens uh every so often. Did Okay, I think we're back. We're back. Okay, we made it. Awesome. I watched what my tech team did 20 minutes ago and I just did the same thing. I feel like a genius. Okay. All right.

So, here's the question, everyone. When you do a CRUT, here's what people are a little nervous about. I'm going to take this million dollars and not pay any tax on the sale. No big tax payment, but when I die, I'd like to leave some to my family, right? The cool strategy. When you put the money into the CRUT, the bit your crypto into the CRUT, we sell it tax-free. We then are designating a charity for 20 years later or when we die, whichever is longer. I get regularly quarterly payments. I get a tax deduction. Remember all the benefits, but this charity issue now. Remember, you get to continue investing this. I have many clients. They have a million in crypto. They turn around on day two and a year later, it's worth two million. And so now your quarterly payments go up. You are rewarded. You get a certain percentage based on your age of the value every year it's valued. So you are incentivized to build it, but then when you die, it goes away. So what we replace it with is an ILIT. An ILIT is an irrevocable life insurance trust. So, what we do is we take some of these quarterly payments or a portion of them and we start funding a kick-ass life insurance policy. $2 million, $3 million, $5 million policy based on second to die. It could be you and your spouse. So, the premiums even get lower. But what's funding it? And you don't have to worry about not funding it because you've already set up the machine. Your family. So, check this out. You sell your million-dollar crypto tax-free, get a tax deduction, get cash flow for life, asset protected. The charity gets their $1 million, $2 million. You get a wall named after you at your local college or school or church. Everybody loves you. And your family gets the life insurance tax-free. Everybody wins. So when we orchestrate this, man, it is badass. It's pretty cool.

So yeah, you know that is as as you were saying this, I was thinking to myself, you know, like how many people, especially in the chats, I'm just curious how many people have actually heard this information are aware of 50% of what Mark just talked about. And how amazing is it that in this world that we live in now that 20 years ago you weren't hearing this? You would hear this from if you were upper upper upper class, you were not getting shared these types of tips and the rich just got kept getting richer and the poor kept getting poorer. Now there's a level playing field, I think. And this is one of those things that you can really level the playing field by taking into account like, hey, I like these games, but I don't want to pay the government so much. Maybe I should do something like this. Of course, it's it's whatever people want to do. Some like, I don't want to do that stuff. I just want to sell and get out of here and sit on my ties. And I got to tell you, on a beach, it's it's really boring to do that. But yeah, you can't beat that.

All right, Mark. How much how much more time do we got here? Sorry. I I think we're good. I can if my schedule's right, I can stay as long as you want me here for a bit. Is that all right, Kirby? Kirby, my amazing PR director. She's like she'll let Yeah. Hello, Kirby. She's great. She was emailing me back and forth. Now, let me say this to everybody on your last comment, Robin. I want to say this humbly, folks. When I as someone with my credentials, a CPA, lawyer, worked for Tax Court, KPMG, in the practice for 25 years, my contemporaries, the guys I went to law school with that have my credentials, they're charging $1,500 an hour and work in Wall Street doing mergers and acquisitions. They don't want to help small business owners. They make so much more money in Wall Street. I chose early on in life, I want to work on Main Street. I want to help the small business owner. My dad was a small business owner. We had a farm. I worked moving pipe. I I have all my brothers and sisters and my aunts and uncles were small business owners and they struggled to get to information like this. So when I started writing books and doing a podcast, I named it the Main Street Business Podcast. I want you folks to get the same info. Super rich people are getting it. And so we based our pricing and our structure on volume. We want to help more people at a more reasonable price than the big rich people at a big price. And I think it's been amazing. We've loved it. Yeah. And I got to tell you, like when you were talking about the pricing just for the trust, I was like I've been quoted some numbers and they weren't anywhere near that. All right. Yeah. All right. More questions. Bring it people. You've got me for free here. Use it. Exactly.

How much of these tax numbers vary by family income? Children, I'm under the impression I'm not more than 20% of my long-term considering Oh, this is a like a tax uh uh submission type of question. How much of these tax norms vary by family income? If if we're talking about long-term capital gains and short-term capital gains, maybe that's what this is. I'm under the impression not more than 20% of my long-term considering F was a family court.

Their question, Rob, is is actually a very advanced question. And that's why people are like, "What are they asking?" Here's what they're saying. Believe it or not, um, what what they're talking, and I'll just say this briefly, it's a deep topic, is that capital gain tax rates are not applied in a vacuum. It's not like my W2 is taxed at ordinary rates and then, oh, I've got capital gain. It starts at zero and it goes over here. The capital gain rates are stacked with your regular income first. So I take all my income. And so I think what they're saying is my family income is going to drive your capital gain rates dramatically. And so we have to look at the big picture of what what other income do you have? What other strategies can we employ and make that smoothie as best we can. And that, you know, and everybody's situation is different. That's why it's important to kind of reach out.

Okay. Um, where else are we? Oh, I, by the way, while you're looking at questions, I have a network of CPAs and enrolled agents. I've trained around the country. It's been our mission the last three years. And so, I have a network at my site, markjcoler.com. It's called the Tax Advisor Network. I don't make any uh Oh, look at you. It's I think it's under Yeah, the network. And so you can go search for advisors around the country and interview them. I don't make any money on it. And so they speak Mark Kohler. They meet with me every week. They have to take 90 uh classes and pass a thousand quiz questions. And there's a whole module on crypto. So here's just Yeah, you can just see their names there. So go interview them people. You if your accountant sucks, I got I got an army for you. So anyway, that's a side note, too. And I will tell you a good CPA is worth their weight in gold. They can get you out of a lot of issues, I will say.

All right. So, uh, no. Well, this will be the same question. "If I want to buy more than $8,000, how can I buy with the Roth?" This will be talking about the backdoor Roths, mega backdoor Roth, because it it depends on your age, of course. It's only $7,000 up to age 52, I think it is. And after that, it's $8,000. But then you can you can roll the things into like your 401k, I believe.

Yeah. Let me I'll just say it briefly, everybody. What is this mega backdoor Roth? I can do it in 120 seconds in our trifecta. If many of you just have a day job, great benefits, education, you love your job, maybe you hate it, and you're investing in crypto waiting for the big day you can quit, I don't know, hit the lottery. Um, if you want me to help you, and I mean this not trying to be rude, if you want to do tax planning, give me something to effing work with. Buy a rental property. A rental property is a business. Buy have a side hustle. For one out of three Americans get a 1099 somewhere. That's a small business. You may be sitting on one and don't even know it. So the point is once you have a 1099 over here, I might do an LLC. I might do an S corp. Hell, I might not do anything. It depends on your situation. But I can take this 1099 and fund a solo Roth 401k. And you can still have a 401k at work. You can have a W2 401k. I call it get the matching out. Matching out. Get your match and then let's deploy your money somewhere you can control it because they only let you invest in Wall Street, which is fine, but you can't buy crypto in your day job 401k, right? So, we want to form this solo 401k based on your 1099 and on top of it, we're putting it on top of your individual Roth. So, I may have $7 to $8,000 here, but I can do $70 to $80,000 here. And when I then put a health savings account in the middle of this, which I love. I have a crypto HSA, which is $4 to $8,000. Look at this. This is $100,000. So, when you have a small business, we can sell some crypto over here and live on it. and use the 1099 to fund these accounts to buy more crypto and offset the tax in the at the same time. Now, that sounded complicated, but just let me tell you, shift your mindset. Maybe I live on capital gain and invest my ordinary income, take a write-off to do it, and I save tax. We're we're using our pockets differently. And this is what the wealthy do. They start to realize, I'm gonna support my kids anyway through school and pay for school lunch. I'm going to pay my kids out of my business and let them pay for their own school lunch and pay zero tax. I love kids on payroll. Adult children on payroll. Mom and dad. Oh, Rob, check this out. You can also, this is one of my favorite strategies. Any of you that have a mom or dad that's 70 or 80 years old? Uh-huh. Let's fund their Roth IRA. Make you the beneficiary. A a ben when you re when you inherit a Roth IRA, you can take draws immediately. You don't have to wait till you're 59 and a half.

How does that work? No, sorry, Mark. Just interrupt. How does that work for like the maximum uh donation to that specific Roth IRA for a parent who's 70 or 80 years old? Is it the same stipulation $7 to $8,000?

Yep. So your mom and dad can put in $8,000. So you say you call your brothers and sisters and go, "Hey, mom and dad don't have a Roth IRA. They don't want one. I'm going to fund it, but I'm telling you, I'm the beneficiary. So when they die, I get it because I funded it. Is that cool with you?" And they're like, "Sounds good, you idiot. I don't care." Because they're not smart. You're smart. And so you're going to put the $8,000 in the Roth. you get to be the trustee of their Roth IRA. So now you're doubling down. You've got your own Roth and you've got your mom's Roth. Now I'm in $16,000 and I harvested some of my crypto with a built-in gain. Funded these two suckers and when mom dies, I've got a tax-free ATM and I have 10 years to drain it. Well, I can keep investing it. I could be 30 years old and continue to pull money out of that Roth IRA tax-free at any age. The inherited Roth is like the creme de la creme of freaking retirement accounts. Anyway, another idea.

No. And and just to interrupt and I will say that so to interject to talk about parents. Let's say for example, you have a parent who may need more care than you're you can give. Not that you're willing to give, but you actually can give. Let's say that that parent needs to go to assisted living or some type of uh partner. Longterm care. Yeah. Yeah. Long-term care. I believe you could probably Yeah. You could take funds out of there that you invested, you know, your $8, $7, $8,000, I would guess, and it would grow. You could take those funds out of that to actually fund that uh type of home as as opposed to you paying for everything. You put something in there five years later. Let's say let's say that you do XRP or Bitcoin. and it goes up 5x. Well, great. The money that you have there that goes to the home that you have to pay for for your parents and not and of course when they pass away, God bless them, then uh of course that'll go to you as the designator. So, does that seem right, Mark?

Yeah. And let me say it another way, people. If you know you're going to need to be taking care of your parents in the next two to five years, put XRP in their Roth IRA right now to pay for it tax. That is that was that will be for Mark uh given some somewhat financial advice. Here we go. Let's see. Oh yeah, sorry. No, don't buy XRP. Go buy uh FTX. It's really good. Yeah. Yeah. There you go. Let's see.

Hey, you know what? Here's a here's a good question. Jennifer says, "This probably makes more sense for someone of my of of means of my means, $100k income for a household. Let's say somebody makes $100k and what you were talking about was putting these into different buckets, especially if they have a side hustle." Jennifer talked about how she works for a law firm, so she works for somebody else. How could she do that to say like could she just start some kind of side hustle that doesn't really make too much maybe and then she could start to take tax advantages off of those? And how would that work? You said her name. Yeah. And you said her name is Jennifer. Jennifer. Yep. Okay.

Jennifer, great question. And hopefully you work for a great law firm and not a personal injury or divorce firm. Anyway, I just got to dig in there. Okay. Tax lawyers. Tax lawyers are the best. Okay. Here, everybody. Whether if you have a day job making a hundred grand and I like Jennifer said, she works at a law firm. Okay. Let's think outside the box. If I was doing a one, if she was doing a one-on-one consult with any of my lawyers tomorrow, whatever, this is how it would start. What is your debt load? Do you have are you in how's your credit card debt look? Do you own your own home? Where's your mortgage at? What's in your retirement account? What other investments do you have? What's in your crypto portfolio? We want a picture. Now, if she goes, "Well, Mark, I get it. I only want to buy more crypto inside my Roth and then I'll get back to buying in my own name. But I always the pledge is I will not buy crypto again without funding my Roth first. My crypto Roth gets first choice, then I get to keep buying crypto." So if Jennifer says that's what she wants to do and maybe she even wants to go hard. I would say Jennifer start with your crypto Roth IRA. you can have that on top of your day job 401k. So, be doing both at the same time. So, that's step one, everybody. Let's at least fund our individual Roth $7,000. Now, if you're like, "Well, Mark, I'm on a pretty fixed budget. $100 grand. It sounds like a lot, but where I live in taxes, I'm just kind of trying to make it work." I'm okay. Okay. So, what I would say is, "Hey, Jennifer, why don't you go get on Upwork?" Have you ever heard of Upwork? It's the number one freelance website in the world. And you could go get on Upwork, sign up to be a part-time paralegal on a project-by-project basis when it works for your schedule, and you charge $50 or $100 an hour and say, "I'm going to do a little part-time work at night and on the weekends on Upwork, which is a 1099. We get a little LLC going for you. We write off home office, auto, dining, computer, laptops, travel. You pay zero tax on the income." Let's say you could pull off $50 an hour times 40 hours a month or just an extra 10 hours a week. That's oh my gosh, $2,000 a month times 12, that's $24,000 a year. I could do that tax-free all day long. So now we take this $24,000 and we go, what are we going to do with that extra money that's tax-free? Oh, I can fund my Roth. Oh, and I can do a solo Roth 401k for another $15,000 because my day job I'm probably putting about $7,000 in there. So now all of a sudden everybody, Jennifer's dropping in $7,000, another $15,000 for $22,000 and then she's got her day job 401k with the match. She's probably putting $30,000 into more crypto purchases and doing it tax-free. and we're doing it every year. If she's doubling her money every 12 months, which a lot of us are shooting for that with our crypto portfolio, that $30,000 a year, it's going to be $2 million in less than 10 years. So now she has just built a $2 million retirement by doing a little side hustle on Upwork as a paralegal because she knows it well and she's doing it entirely tax-free. That'd be nice. There you go. Upwork. Upwork.com.

So, let's see. What else do we have? I think we're rounding up the the one. Franklin Santana says, "If I if my if I move my cryptos to a Roth, who where is holding my cryptos?"

So, for I can speak to iTrust for them. They're using the same custodial services which is what Larry Fink and BlackRock is doing and Brian Armstrong and Coinbase is doing which is or excuse me Michael Saylor MicroStrategy which is using Coinbase Prime. So if something happens they go out of business and I'm I'm sure with all these different uh Roth IRA companies the same thing once they go out of business it is the custodian that has your digital assets or your crypto. It's not the particular ones like a Sam Bankman-Fried of FTX or something like that. So that would be that one and then

Let me throw this and and this Oh, I I got to move my camera. Let me throw this out too. So, at Directed IRA, um, it's the same thing like you are at iTrust, they use Coinbase as the platform and then they let you have your own wallet on your phone and you're trading crypto on your phone through Coinbase as the the platform. At Directed IRA, we use Gemini. Gemini is our platform. And again, all these are FTC regulated, bank regulated. We as you and I both now on that one, I didn't I didn't freeze Mark. Now, I hopefully you guys can still still hear me, but it seems as like when Mark gets on a roll, he uh the uh the energy of the universe tries to slow him down. But as we're waiting for Mark to to reconfigure, Candace has a good one. She says, "I'm married, nearing 50. I have $1 million between retirement, crypto, and home equity. I don't even know where to start for cashing some out."

And for this one's because we always talk about taking profits and going from there. Right? There is a link in the description where I talk about these crypto critical videos. And one of those is when I'm selling 80% of my crypto. And that's where I start. And what we're doing is, you know, how we ladder into positions and we dollar cost average and we ladder out. I'm not going to be selling everything, but as these certain indicators hit, which you can see right here, or if you just want to be like uh speedy and just say, okay, well, let's just do this. Uh, if I just want to look at coinlass.com, I can take a look at those indicators and see which ones are popping. And right now it's telling you just hold 100%. So for you, for for for Jennifer or for Candace, just start with those videos or that video and then take a look at some of the uh uh indicators and then start to start to scale out 10% 20%.

Let's bring Mark back. Mark, I was saying the universe when you when you're on a roll, I want to call I'm going start calling you butter because you're on a roll. And uh once that happens, once that happens, the universe tries to slow you down. So so so keep going.

Okay. So I'm just throwing out to some of you out there, there's really two ways. Your question of how does my crypto end up in my Roth? Either you use a platform like Coinbase or Gemini, but if you want to get more creative, you set up an LLC owned by your IRA. And the LLC could then do more unique wallets. And this is where I do crypto mining. So my LLC owns uh two we have two different CPUs and I don't know probably eight different graphics cards and I probably made $30,000 in Bitcoin over the last two years just mining at night right inside my LLC owned by my IRA. So, that's an option, too. For some of you that don't like Gemini or don't like Coinbase Pro, you can go an LLC route. Got it.

That sounds pretty. Well, maybe a couple more questions if if they uh if anybody has something. Yeah, let's see. Reach reach says the same thing. Obviously, the elite don't want us to know about this information. I would say not. I got to tell you, I wasn't taught any of this stuff in in school. I wasn't taught any of this by my family. That's for sure. I sure as heck didn't understand about investments. So these things you just got to pick them up as you as you can find it. Uh this one whistle. "If I sold crypto to fund a 401k SV 401k."

Okay, great question everybody. And how do we answer this? We go back to the trifecta. So in our trifecta, remember this is the passive side and this is the operation side. Passive income cannot fund a 401k. You have to have earned income to fund the backdoor Roth. So, I just can't take rental property rent or crypto capital gain and put that into a 401k. I wish I could. I cannot. So what we have to do and that's why I was telling Jennifer we need to have that side hustle or that small business to generate the income here to fund the solo and stack our IRAs. So that's why I was saying earlier if you can give me something to work with with a side hustle small business it gives me so many more options.

Well said. Yeah, options especially if we can do as much as we possibly can by ourselves and then bring in the experts which would be Mark and his team and I think uh I think that's it really not too many other questions than just digital asset agents and Mark does a really good job of teaching educating making it fun and I have to agree and this was a was a great session so Mark thank you for coming in again everybody you can find the link in the description I definitely recommend checking out Mark and his YouTube channel really great info their website itself. And then of course, if you're looking to uh uh check out things about uh real estate, there is the Puerto Rico real estate uh conference going on which is free to watch and I'll be talking tomorrow. But that's it for this one. Mark, any last words of wisdom for the investors out there? It's been a bumpy road, especially for XRP holders. What else you got for these guys?

Yeah, see Mark's speechless and these these things happen. So, look everybody, that's it for this one. Mark did a great job. I appreciate him. And then that's it for uh today. Tomorrow maybe a little bit late because of the conference, but I'll get everybody to it. But again, congratulations everybody. Ah, Mark's back. Okay, what do you got?

Thank you everybody. The American dream is real. Don't give up and keep studying and learning. I'll be your guy for tax and legal.

That sounds good. Everybody, thanks so much. Enjoy your weekend. We appreciate you. will see you on the next one.