The Richer Geek

Are you looking to seize control of your retirement funds and explore alternative investment avenues beyond traditional stocks? In this episode, Adam Bergman, a nine-time author, former tax and ERISA attorney, and founder of IRA Financial, shares how self-directed IRAs can empower you to invest in assets like real estate, crypto, gold, private businesses, and more. Learn the essential tax rules and strategies to cultivate your retirement growth. In this episode, we chat about… * Introduction to Self-Directed IRAs: Explained what a self-directed IRA is and how it differs from traditional IRAs managed by custodians like Fidelity or Vanguard. * Three Things You Can’t Do with an IRA: Clear breakdown of IRS restrictions: no life insurance, no collectibles, and no self-dealing (IRC Section 4975(c)). * What Triggers UBIT (Unrelated Business Income Tax): Covered the three scenarios that may trigger UBIT and outlined strategies to avoid or minimize it. * Solo 401(k) vs. Self-Directed IRA: Compared the advantages of solo 401(k)s for the self-employed, including UBIT exemptions and higher contribution limits. * Using an IRA LLC or "Checkbook IRA": Describe the structure, benefits of control, limited liability, and privacy offered by IRA LLCs. * Real Estate and Crypto with a Self-Directed IRA: Detailed how self-directed IRAs can be used for real estate and crypto investments, including the role of non-recourse loans. Key Takeaways: * Self-directed IRAs allow you to invest in a wide range of alternative assets, with only a few IRS restrictions. * A qualified custodian is required to handle IRA funds and facilitate compliant investments. * UBIT may apply to leveraged real estate or active business investments, but it can often be reduced or avoided with the right strategy. * IRA LLCs with checkbook control offer more flexibility, privacy, and direct access to manage investments. * Solo 401(k)s are ideal for self-employed individuals, offering higher contribution limits and exemptions from UBIT on leveraged real estate. * Learning from credible sources and consulting professionals is essential to avoid costly mistakes in self-directed retirement planning   Resources from Adam      LinkedIn [https://www.linkedin.com/in/adambergman1] | IRA Financial [http://www.irafinancial.com]  Resources from Mike and Nichole      Gateway Private Equity Group [https://www.gatewaype.com/] |  Nic's guide [https://nicsguide.com/make-money-in-real-estate-investing]

Welcome back to another episode of The Richer Geek Podcast! Our guest today is Spencer Howard, credit card royalty program and travel rewards expert and founder of Straight To The Points. Spencer shares his expertise on maximizing credit card points to unlock luxury travel experiences, from choosing the right cards to building a sustainable points strategy that won't damage your credit score. In this episode, we chat about… * Spencer's Journey from Politics to Points Expert - How working at the US Travel Association sparked his obsession with travel rewards and led to building a full-time business around credit card points strategy * The Two-Sided Business Model - Spencer explains his newsletter service for finding business and first-class award space plus his travel advisor services for luxury ground experiences * Transferable Points Strategy - Why starting with flexible points currencies like Chase Ultimate Rewards and Capital One Miles beats airline-specific cards for most travelers * The Three Approaches to Credit Cards - Breaking down the "Keep It Simple" (1-3 cards), "Hub and Supplement" (4-6 cards), and "Maximalist" (continuous new cards) strategies * Credit Score Myths Debunked - How responsible points enthusiasts maintain 750+ credit scores while regularly opening new cards through strategic management Key Takeaways: * Start with transferable points programs rather than airline or hotel-specific cards to maximize flexibility and redemption options across 15+ different airlines * Focus on bonus categories that align with your spending - Cards like Amex Gold (4x groceries) and Citi Premier (3x travel/gas/groceries) can accelerate point earning * Maintain excellent credit hygiene - Keep oldest cards open, pay balances in full every month, and don't attempt this strategy unless you have a 700+ credit score * Signup bonuses are the fastest way to earn points - New card bonuses typically offer more points than you can earn through regular spending over months * Choose your involvement level - Whether you prefer a simple 1-3 card setup or become a maximalist earning machine, there's a points strategy that fits your lifestyle and effort level   Resources from Spencer      LinkedIn [https://www.linkedin.com/in/spencer-howard-82072710/] | Instagram [https://www.instagram.com/straighttothepoints/]  | Straight To The Points [https://straighttothepoints.co/]   Resources from Mike and Nichole      Gateway Private Equity Group [https://www.gatewaype.com/] |  Nic's guide [https://nicsguide.com/make-money-in-real-estate-investing]

Welcome back to another episode of The Richer Geek Podcast! Today, we're exploring a revolutionary banking strategy that's completely changing how Americans save, invest, and conquer debt. Forget everything you thought you knew about traditional banking – it's time for a major financial upgrade. Our guest, Bill Westrom, co-founder and CEO of TruthInEquity.com, brings 30 years of invaluable banking and lending experience to the table. He's here to expose how the traditional financial system often fails families and, more importantly, how to fix it. Bill will explain his innovative "credit line banking" approach, a powerful method that has helped families pay off debt up to four times faster, transforming financial stress into clarity and control. In this episode, we chat about… * America's Debt Reality Check: We'll challenge the common perception of $18 trillion in consumer debt and explore how modern living expenses have fundamentally shifted, making traditional financial advice less effective. * The Truth About Credit Card Payments: Uncover the hidden mechanics behind how credit card companies calculate minimum payments and why strictly adhering to their terms can keep you trapped in a cycle of never-ending debt. * Credit Line Banking Fundamentals: Get a clear explanation of this game-changing strategy: banking directly out of a credit line instead of a traditional checking account to leverage your income just like the big banks do. * The Money Flow System: A step-by-step breakdown of how to strategically move your income into credit lines to suppress balances and dramatically slash interest costs. * Bill Payday Strategy: Learn why consolidating all your bill payments to a single day each month can unleash the maximum debt-crushing power of your income. * The Payoff Formula: Discover a simple, powerful calculation that allows you to predict exactly how fast you can pay off any debt: Balance ÷ Surplus = Payoff Timeline. Key Takeaways * The Problem with Banks: Your money helps banks make money, while you pay high interest on your debts. * The Credit Line Answer: Using a credit line lets you use your own money to lower debt faster and pay less interest. * You're in Control: This method puts you in charge of your debt payoff, not the bank.   Resources from Bill      LinkedIn [https://www.linkedin.com/in/bill-westrom-49898317/] | TruthInEquity.com [http://truthinequity.com]   Resources from Mike and Nichole      Gateway Private Equity Group [https://www.gatewaype.com/] |  Nic's guide [https://nicsguide.com/make-money-in-real-estate-investing]

Welcome back to The Richer Geek Podcast! Today’s guest is Stephen Petasky, CEO and Founder of The Luxus Group. For the past 17 years, Steve and his team have helped deliver over 20,000 luxury vacations across North and Central America, the Caribbean, and Tuscany. Steve shares how The Luxus Group creates a high-end, consistent travel experience and works with global luxury brands to deliver real value.Whether you're a real estate investor, a vacation rental owner, or just love traveling in style, this episode gives you real insights into the future of luxury travel and hospitality. In this episode, we chat about… * How It Started: The personal story that led to building a luxury vacation rental business, before Airbnb. * Solving Inconsistency: How The Luxus Group delivers hotel-level standards in vacation homes. * Syndication Strategy: Using early investments to buy high-end properties and offer better experiences. * Luxury Tiers Explained: What “accessible luxury” vs. “ultra-luxury” means in today’s rental market. * Regulations Impact: How short-term rental laws in places like Las Vegas and Maui affect property owners. * Professional Management Wins: Why expert property management leads to higher income and fewer headaches. Key Takeaways * Demand for Certainty: There's a strong need for consistent, hotel-like experiences in vacation rentals. Luxus Group tackles the inconsistency found in major platforms by enforcing strict brand standards, from linens to kitchen amenities, boosting customer loyalty and repeat bookings. * Professional Management Benefits: Self-managing rentals can lead to pitfalls in a changing market. In contrast, expert property management by Luxus Group uses revenue optimization strategies and thorough property care to protect assets and can generate 10-40% or even up to 50-60% higher revenue. * Regulations Create Opportunity: Increasing short-term rental rules in places like Las Vegas and Maui reduce overall supply. For legally compliant properties, this shift can drive higher revenues and property values, emphasizing the importance of adhering to local regulations.   Resources from Stephen      LinkedIn [https://www.linkedin.com/in/stephen-petasky-86437711/?originalSubdomain=ca] | The Luxus Group [https://luxusvp.com]   Resources from Mike and Nichole      Gateway Private Equity Group [https://www.gatewaype.com/] |  Nic's guide [https://nicsguide.com/make-money-in-real-estate-investing]

Looking to turn your career experience into real estate success? In this episode of The Richer Geek Podcast, Casey Gregersen shares how he went from working in the oil fields to building wealth through real estate. How did Casey make the leap from a corporate job to owning fitness studios and launching Bighorn Capital Fund? You’ll learn why he chose Wyoming as his market, how his engineering background gives him an edge, and how passive investing can help you reach financial freedom. Curious how you can get started too? Tune in and find out! In this episode, we’re discussing… * From Petroleum Engineer to Real Estate Mogul: Casey recounts his fascinating career shift from working on oil rigs for Shell Oil Company to building a thriving real estate investment business. * The "Why" Behind the Move: Discover the pivotal moment that inspired Casey to prioritize family and pursue financial freedom through real estate, even while maintaining a successful career in oil and gas. * An Engineer's Edge in Real Estate: Learn how Casey's background in engineering, with its emphasis on mathematics, underwriting, and process-oriented thinking (SOPs), has been a significant asset in his real estate ventures. * Why Wyoming? Casey reveals the strategic advantages of investing in the Wyoming real estate market, including lower competition and a unique market dynamic that offers consistent stability and cash flow. * Untapped Potential in the Cowboy State: Explore the specific types of real estate opportunities Casey is pursuing in Wyoming, from single-family homes to value-add multifamily properties, and how he leverages local insights with modern investment strategies. * Bighorn Capital Fund: Get an inside look at Casey's Bighorn Capital Fund, designed for accredited investors seeking passive income and wealth building through strategic real estate investments, offering both debt and equity opportunities. * Helping Others Achieve Financial Freedom: Casey shares his passion for empowering other professionals, particularly those in demanding W-2 jobs, to achieve their passive income goals by partnering with his fund.    Resources from Casey      LinkedIn [https://www.linkedin.com/in/caseygregersen/] | Website [http://caseygregersen.com] | Big Horn Capital Fund [https://bighorncapitalfund.com/]  Resources from Mike and Nichole      Gateway Private Equity Group [https://www.gatewaype.com/] |  Nic's guide [https://nicsguide.com/make-money-in-real-estate-investing]