My current portfolio consists of only equities and bonds. 2/3 of my assets are in a Rollover Traditional IRA (I live in California), and 1/3 are in taxable accounts.
My main concern is spending 2-3 decades of my life living frugally and investing, only to be wiped out by a lawsuit.
I’m curious at what threshold should I consider purchasing liability insurance? How can I financially hedge against litigation / a hefty judgement?
Given I live in California and some cursory research suggests Trad IRAs in California are less protected than 401ks from creditors, should I instead be rolling over my 401ks into my new 401k when I change jobs rather than rolling over into a Trad IRA? What insurance can I purchase to limit the chance of getting wiped out by litigation?
My friend was recently sued over a rather benign incident for a preposterous amount of money which got me to thinking about this, for context.
Thanks :-)
Submitted November 06, 2019 at 07:30PM by _randomAsshole https://ift.tt/2JTEquQ
