The 2 Best Ways to Save Money on Taxes

Understanding How Money Works: Lessons from the Wealthy

If there's one thing that sets the rich apart from the poor, it's their understanding of how money works. Naval Ravikant once said that if he were left penniless on the streets of an English-speaking country, he could become a millionaire again within ten years.

This statement highlights that it can't just be luck. These individuals have grasped crucial lessons about money that propel their income to the next level.

Lesson One: Understanding Money

We've covered this in several articles already: knowing what money is, its intrinsic value, and how central banks are devaluing it until the currency essentially disappears. This is where strategies we've previously shared come into play, focusing on buying assets with limited supply.

It might seem complex, but it's quite simple. While the poor accumulate liabilities (cars, vacations on credit, clothes, etc.), the rich acquire assets. This is perfectly explained in the first investment book everyone should read: "Rich Dad, Poor Dad."

Lesson Two: Taxes

This lesson, often requested by many of you, delves into taxes. It's the second method through which the rich build much of their wealth.

Unless you live in the Cayman Islands, you probably have to pay taxes on the buying and selling of stocks. Today, I want to introduce you to two straightforward methods to save a significant amount on taxes.

Later, I'll provide a more detailed article, but this serves as a starting point for those looking to maximize their money.