5 Talents Podcast - How To Build Wealth Like the 1%

Scott Royal Smith - How To Achieve Financial Independence and Live a Rich Life

August 30, 2022 Abel Pacheco
5 Talents Podcast - How To Build Wealth Like the 1%
Scott Royal Smith - How To Achieve Financial Independence and Live a Rich Life
Show Notes

Scott Royal Smith is a Real Estate Investor and Asset Protection Attorney. While still in law school, Scott became an entrepreneur -purchasing and running an auto mechanic shop to pay his way through school. He spent the last 10 years of his career analyzing Real Estate Investment and Asset Protection. 

This present day, Scott is the founder and CEO of Royal Legal Solutions; a firm he built to offer tax, business, and legal strategies to clients all over the U.S and Canada. He continues to educate the public on asset protection strategies to help circumvent debilitating lawsuits for his clients. He discusses the importance of being a good steward of capital and why it’s so important to have an attorney with investment experience on your side.

[00:00 - 06:33] Opening Segment

  • Introducing Scott to the show!
  • Scott shares his story of how he became an investor
  • He helps other real estate investors achieve success

[06:34 - 20:55] How To Achieve Financial Independence and Live a Rich Life

  • Scott says that you can achieve great things if you start by helping others
  • Understanding the playbook of how to go from zero to 10
  • The steps to wealth creation
  • The 4 key areas to be considered when building wealth are:
    • Asset protection
    • Estate planning
    • Tax and Insurance

[20:56 - 37:33] Asset Protection and Building Wealth The High North Way

  • Asset protection
  • An umbrella policy can protect you from lawsuits
  • Having a living trust can help ensure that your family is taken care of after your deat
  • Does your company/organization need to be an LLC?

[37:34 - 46:46] Closing Segment

  • Scott believes that’s why we think we’re so successful is because we’re taking the high-net-worth mentality and applying it to everyone, even if they don’t know it
  • See the links below to connect with Scott!



"We always focus on is education to action, which means we have to understand who you are, where you're at, what the next steps you're going to.” - Scott Royal Smith

"The problem itself is really understood all the way from the very beginning to owning absolutely nothing to having a hundred million dollars." - Scott Royal Smith

“What you build now works perfectly now for what you're going to need in the future." - Scott Royal Smith

Connect with Scott through LinkedIn & Royal Legal Solutions!

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