REM44: How to Set Yourself Up for Retirement in Paradise w/ Josh Plave

If you are a student in college, the last thing you are probably thinking about is retirement. However, Right Now, many of us have a unique opportunity to set ourselves up to retire in paradise by making a few wise choices…For example, if you start investing your money in a Roth IRA Now, while you have a low or no tax rate, you will not have to pay any taxes on the gains when you withdraw during retirement.Another exciting strategy is to use a Self-Directed IRA, which would allow you to invest in real estate using your retirement funds!In today’s episode, Josh Plave tells the story of how he began saving his money in a Roth IRA at 16 years old after working a summer job down the street from his home in Rockville, MD!We are not tax advisors, so make sure to consult a CPA for specific tax advice, but if you want to learn about fascinating ways to create your best possible retirement, tune in to today’s interview! Keep Making Milestones, Ben MalechSubscribe to my Mailing List!!!! Click HereIf you want to learn more about Josh, you can find him at:Josh’s Homepage: https://walltomain.com/about/LinkedIn: https://www.linkedin.com/in/joshplave/To learn more about Ben, connect with him through:Ben’s Website: https://benmalech.com/Ben’s LinkedIn: https://www.linkedin.com/in/benjamin-malech/hBen’s email: benmalech@carswell.ioResources Mentioned:Blue Ocean Strategy - Renée Mauborgne and W. Chan KimShownotes:1:00 - Where did Josh go to High School?2:00 - What was Josh’s first real estate investment? 3:00 - Josh’s first retirement account5:30 - How he made 12% passively7:30 - Different types of retirement accounts9:30 - Self-directed IRAs12:30 - Investing in real estate for the best retirement14:45 - Limitations on IRAs17:00 - Passing retirement accounts to beneficiaries18:30 - How to prevent taxes using retirement accounts20:30 - Roth Conversions23:00 - What is UBIT?27:00 - How Josh’s LP experience makes him a better GP 28:50 - Lightning Round!!!