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IBD, ROBS, 1031 Exchange - money tools.


I used Investors Business Daily (IBD) strategies to quadruple my money in 2009 as the market was coming back up after the terrible 2007 real estate driven crash. Wasn't confident enough in what I had learnt; so had only invested $10K. Looking back, should have done better.


Started my business in 2014 using that money and funds from my 401K using a ROBS (Roll Over for Business Startup) transaction. Had never heard of it; but its a legitimate IRS approved transaction (always use a professional company though to make sure its done by the books - I used Guidant).


I exited the ROBS transaction last year to get back full control over my business. Its basically the same transaction done in reverse. Not to be handled by anyone except a professional organization following specific rules involving appropriate Attorneys.


A few years back I did a 1031 exchange of a rental property to buy a similar property in my home state. Great way to defer capital gains taxes, and more. Again, used a professional organization to handle this complex transaction to make sure it meticulously followed IRS rules.


I am making 2 points.


1. Do NOT go it alone. Build and rely on your professional team.


Educate yourself; find solid organizations to confirm what you have learnt and teach you more; tell them what you want done; let them do their job to get to your goal.


Oversee but don't meddle. You then have someone to hold accountable who does this professionally for more people than just yourself, all the while learning from them, so you can abstract and do bigger things next time.


2. While you want to grow money, you also want to protect it. Do NOT just focus on growth.


Again, do the research; learn; then hire professional and reputable organizations to handle growth + protection for you. This is what they do for a living, and will handle things for you so you can see the big picture. They know and keep up with the rules, so you don't have to.


For the first time ever in my half a century of existence, I have trusted financial professionals starting to manage my money. Its so much less stress :) And "my people" are great at learning about my goals, educating me, and advocating for me and my dreams.


Thank you very much Sean Fitts, CFP®, RICP® and Judith Naegely for your expertise and friendship. Sean especially, for listening to my dreams years back, not laughing at me (at least not in front of me :)), and creating a plan for me that didn't materialize then, but a decade later he was my "go-to man" to manage my money. I enjoy learning from him, and also sharing my crazy ideas with him.


Judith, Jessica Cunningham, JD, LTCCP® and I started an education company together. Great to be supported by AND advocating for friends and their dreams and ambitions.


Use your finances as a tool; don't let them own you. Find professionals who are good people and you trust to help you get to your dreams and fulfill your life's mission. Live!!!


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