Vermögen richtig absichern, mit Dave Ramsey

0:00So, a lot of entrepreneurs, myself included, you know, you start to you know, build build a lot of wealth and then there's also the biggest percentage of your wealth sits inside of the enterprise that you run, right? And so, how do you think about family office like, you know, you start you start getting this money, right? That comes into the business or comes out of the business, excuse me. Um do you have any kind of mental framework that you work through in terms of percentage reallocation to new you know, new investments uh within within the overarching structure uh and where where this gets more tactical for me to you is Layla and I have run almost everything inside of acquisition.com and that means like we own buildings, we own apartment complexes, all that stuff. It still sits in acquisition.com. Obviously, there's entity structures and things like that, but in terms of the team that helps run it because, you know, acquisition.com primarily is an investment, you know, it started as a family office, but it just it's spun up these other uh profit centers to use your language um over time. And so, I I'm curious, have you Do you do you completely separate church and state to to to use that language in terms of, you know, Ramsey personal versus Yeah, can you just walk me through how you think through that?

1:18No, we we have uh done all other investing outside of Ramsey Solutions uh and in separate legal entities as well for for uh risk management purposes. That simple. And also for estate planning purposes. Uh so, for instance, the campus that you were on is um probably a $600 asset roughly, something like that. Um maybe seven.

1:45>> own in cash. Yeah, yeah. I just wanted the audience to I just wanted the audience to know. Sorry. >> [laughter] >> So, when we when we bought the dirt to start laying the first bricks on the first thing on it, That was a $10 million purchase is the largest purchase I'd ever done in my life when I bought the dirt. And I was freaking out and I'm like, now I got to build something, too. >> [laughter] >> You know, now that I bought the largest thing, now I got to do something even bigger and it's like we're going to cash So we cash flow everything as you said, but we immediately dropped that into the children's trust so that I'm not the owner.

2:20And and so you avoid any you you don't avoid capital gains on the I'm sorry, estate tax on the basis of what you put in there, but you do on all the growth. And so while we've owned this property, it's doubled in value. And so there's hundreds of millions of dollars that have now avoided estate tax by that being over there. Plus, if someone wants to sue Ramsey, which apparently is a hobby for some people, and then they you know, that's not on the plate cuz Ramsey does not own the campus. Ramsey is a Ramsey Solutions is a tenant.

2:58Of the children's trust. And then, you know, same thing if we we own a bunch of other real estate cuz I love real estate like you do. And I just buy that and then drop it into an LLC and if it's anything over 10 million, I drop it into a single standalone LLC so that all risk associated with that property is contained within that property. And from a from a litigation standpoint or or maybe anything else, but um And also then that gives us some other estate planning things we can do with cuz partial interest LLCs can be with one of the kids can be or a kid entity, a trust can be greatly reduced in appraisal value and you can slip more and more of that into the estate plan and not have taxes on it. So we've been doing a bunch of that for 20 years and playing with all that stuff. And that So, the reason was estate taxes and risk management is the only reason it's there. Philosophically, it's all in one lump.

4:03>> Well, that's exactly and that that really teases to the the heart of it cuz for sure the entity structure from a risk protection perspective then you know from from a succession planning and avoiding estate taxes later that 100% makes sense. I was curious about the actual team. So, like would the same legal team that does Ramsey stuff do some of these other deals? I ask because this is me selfishly asking because my my you know my my estate attorneys, you know, who manage all of that stuff um and I have our M&A attorneys that handle a lot of our our deal flow. Um a lot of times we share I share the same resources, same same people um for things that are quote personal versus acquisition.com.

4:46Um and I was curious if you had any like like basically if you had had a mistake from that that I don't know about, I would love to know. >> [laughter] >> No, I I have used I've done both. So, all accounting for the whole thing is in-house. Ramsey accounting team does it. Okay. Taxes are have been an outsourced forever anyway. Estate planning has been outsourced forever.

5:09Uh nuanced litigation has been outsourced forever. Uh but a little thing if I need a if I need somebody to look over a lease or verify that we wrote the LOI up if we're doing a I bought a piece of property this week and you know, with or I've got it on LOI. I don't have a contract. So, you know, will will my real estate team, which does not work for Ramsey, run walk down the hall. They do a sit here, but they don't work technically for Ramsey.

5:37They walk down the hall and run it past the general count somebody that general counsel on the legal team, probably. Yeah. But minor stuff, but pretty quickly if anything gets like if you're if we're re-zoning a piece of property, my legal team here to not do that. I've got that's going to be an outsourced guy. I'm going to bring in a zoning attorney that knows what the flip they're doing and knows everybody at the county that can walk it through cuz my guys would be stumbling around not knowing what they're doing down there. And general counsel would be.

6:02Man, this that was that was super helpful for those of you who are, you know, further along in the path like some of this stuff that we're talking about with asset protection and and any structure although it's something that you don't I didn't I wasn't like I don't wake up every day and be like, "Man, I can't wait to learn about asset protection." >> [laughter] >> But it's, you know, I did not anticipate when I was 64 years old that I would own zero. I don't even own my cars. I don't own anything.

6:28Everything is in an LLC and my wife holds the LLCs. I actually am a very poor individual. >> [laughter] >> You know, we built this again, we referred to it several times, but we love our campus and I'm proud of this property. We've done a good job with it. But we're in we're sitting on the interstate six stor- two six-story buildings with big huge Ramsey Solutions signs on them. And I thought cuz I'm a real estate guy, I thought, "Okay, traffic count, that's branding." You know, people going up the interstate, they see Ramsey and they stop in and watch the show here cuz it's on the glass and it's all this customer interaction and and I it was like uh we're, you know, the stuff we're teaching is working for us.

7:08So, it's proof text for the customer, right? And it so it's branding and it's all positive positive positive. I had no idea that when you did something like build this building and put it on the interstate that you basically should have put right under the sign the words sue me. Or bull's Yeah, that's bull's eye, right? >> Bull's eye. A little bull's eye, yeah. Because I think people some people got from that that this is now a a a uh a target-rich environment. Uh and then we've had to spend we've had to spend some money convincing them otherwise um because So I don't do well with this kind of stuff. I really don't negotiate.

7:45I'm going to pound you into dirt. And I've got some of them that are six and seven years now that I've been that have been sitting in court, and I'm not going to quit. I'm going to destroy them because I cannot stand the thievery that that represents. It's I can't stand a thief. I love this so much. Real quick, if you're business owner and you're not growing as fast as you like, I'd like to give you a free gift. So my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it. And so we broke it into these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources, and finance. And so no matter what you're struggling with, someone else has already struggled with it and solved it. And so I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you deconstruct your business and you're trying to scale, we'd love to help you out. On the thank you page, you can just book a call with my team and we will look at the business, see if we can help, and if we can, we'll invite you out to Vegas and we'll do this in person live.