Rental property and child support

[Paul Flynn]

Before you all start hating me thinking I'm trying to get away from supporting my children that is beyond false. At my weekly job my nine-to-five I take home about $4,500 per month my child support order is for $2,100 per month I've been forced to sell my home and move back in with my parents because I can no longer afford to live the sale of the house will leave me with about $150,000 in cash and I'd like to possibly look into buying rental property so that way I have extra income so I can afford to live. I am not against paying child support but I'm already paying $2,100 per month if I get a rental property I'll just o more money so my question is is there a way that I can own a rental property may be under an LLC that will separate me from the property to hide it from child support. I know this sounds terrible but I'm already paying $2,100 per month which is more more than enough the mother of my children lives with her parents and has zero bills so it's all going to her pocket. I know this sounds terrible trying to hide money from child support but trust me I take great care of my kids I see them all the time and I pay my $2,100 per month every month. But I need extra income in order for me to be able to afford my own place my kids can come visit before you all start bad-mouthing me please understand my situation I love my kids I pay for my kids they have my health insurance I pay my child support every month of $2,100 I pay 80% of out-of-pocket expense for medical and schooling I do everything I can for them and I just can't afford to live anymore but I need extra in come please help

[Jonathan Klemm]

@Paul Flynn - Sounds like a tricky situation to be in.  I am here in Chicago and not far from you.

My suggestion is to shift your mindset.  Instead of trying to figure out how you can shield more money why don't you spend that time figuring out how to make more money.

I know for myself, that I was raised thinking I had to save my way to wealth, but once I figure out I could grow my way to wealth using an abundance mindset doors opened up in ways I could have never imagined in my previous mindset.

Hope that makes sense.