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How To Escape The Tax System Forever
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Key takeaways
- An example of that would be stocks.
- Another example of that would be real estate.
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Abschnitt 1 Here's how you can escape the tax system forever.
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Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00Here's how you can escape the tax system forever. You take loans against the assets that you have that are hard or liquid. An example of that would be stocks. Another example of that would be real estate. These are things that banks understand well. Real estate, for example, you can loan up to 80% of the value and they'll give you a loan for that. For stocks, they'll usually loan up to 50 to 60% the value of your stocks. And so if you have $10,000 in stocks, you can take a loan up to $5,000 against that and you can use that money to buy whatever the hell you want and not pay income tax on it. And so instead of spending the money that you're earning, you plow the money into the assets that you have and take loans against them. And any big bank will do that for you.