In this episode of the Legacy Podcast, you’ll hear host Paul Dio interview Scott Royal Smith, a real estate investor and asset protection attorney.
Scott’s journey of becoming an entrepreneur while in law school is inspiring, as he used his auto mechanic shop to pay his way through school. He followed his passion for real estate and wealth creation, eventually achieving financial freedom. Scott’s realization of the importance of protecting assets came after a friend lost $3 million from a lawsuit, despite having insurance. This led him to build systems and processes for his own financial security and inspired him to help others with asset protection and estate planning.
Scott’s story is a testament to the power of following your passion, building a business around it, and finding joy and fulfillment in your work. If you’re interested in wealth creation and learning about asset protection and estate planning, this episode is a must-listen.
Topics covered in this Episode:
- Explore the key principles and techniques for creating and protecting wealth as an entrepreneur, with a focus on asset protection and risk management.
- Gain insights on building a solid financial foundation that will set you up for long-term wealth creation and financial security.
- Discover practical strategies for asset protection and estate planning to safeguard your wealth for the future.
Connect with Scott here:
LinkedIn: https://royallegalsolutions.com/consultation
Connect with Paul here:
Website: https://innovativewealth.com/
Instagram: https://businesslegacypodcast.com/
Enjoyed this episode? Leave us a review and rating here: https://podcasts.apple.com/us/podcast/legacy/id1575634019
Thank you for listening, and hope you enjoyed this episode.
Please take the time to rate and review our show. Great reviews help us to reach a wider audience and inspire us here at Innovative Financial Media to keep it up.
About Scott:
Scott Royal Smith is a real estate investor and asset protection attorney. Scott became an entrepreneur while still in law school, purchasing and running an auto mechanic shop to pay his way through school. After graduating, Scott began his law career as a high-stakes corporate litigator. He has spent the last 10 years analyzing real estate investment and asset protection. Today, 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 is an experienced podcast guest, featured on over 100 podcasts in the past 3 years, including Entrepreneurs on Fire, BiggerPockets Podcast, The Lifetime CashFlow Through Real Estate Podcast, and Best Real Estate Investing Advice Ever Podcast.
Timestamped summary of this episode:
00:00:00 – Introduction
The host introduces Scott Royal Smith, a real estate investor and asset protection attorney, and explains that the episode will focus on understanding values, beliefs, and intentions behind leaving a legacy.
00:01:35 – Scott’s Background and Passion
Scott shares that he grew up in small town in Texas, raised by a single mother. He developed a passion for making and saving money at a young age. Scott bought an auto mechanic shop while in law school and used the profits to pay for his education. He later became a litigator and invested in real estate to achieve financial freedom.
00:05:01 – Balancing Law School and Business
Scott discusses how he managed to juggle running a business and studying law. He emphasizes the importance of being intentional with time and cutting out unnecessary distractions. Scott also mentions that he prioritized his passion for building wealth over being a litigator.
00:07:17 – Transitioning to Entrepreneurship
Scott shares that he always prioritized his passion for wealth creation and helping others. He read “The Four Hour Work Week” multiple times and focused on building systems and processes to leverage his time. Scott believes that following your passion and learning about business can lead to a fulfilling entrepreneurial journey.
00:09:24 – Embracing Curiosity and Passion
Scott reflects on the importance of following curiosity and passion in life. He
00:13:41 – The Source of Happiness
Happiness comes from within and is not dependent on external factors. Balancing the importance of enjoying life while realizing that material possessions are not the ultimate key to happiness.
00:14:16 – Proudest Moment in Business
The guest’s proudest moment in business is being able to coach and lead his partner, helping him grow professionally and personally. The guest emphasizes the power of helping others become a stronger version of themselves.
00:16:37 – Finding Fulfillment
A discussion on the importance of finding fulfillment in life and the struggles that successful individuals may face. The guest suggests seeking guidance from those who have already walked a similar path and can provide insight on finding alignment and peace.
00:17:32 – Starting the Journey to Fulfillment
The first step towards finding fulfillment is making sure one’s wealth is protected. Building a team of professionals who can provide guidance and support is crucial. The guest also mentions his company, Royal Legal Solutions, as a resource for wealth building and asset protection.
00:21:13 – Building a Wealth-Building Company
The guest discusses the importance of building a solid foundation for wealth and compares it to preparing for a road trip. He suggests educating oneself on the necessary systems and processes and offers resources through his company for those seeking guidance in wealth building.
