Joy is a treasure finance blogger that I watch every issue, like regularly upgrading the system for my brain, each time refreshing my cognitive boundaries! In this episode, she invited Robert Kiyosaki's tax strategist Tom Wheelwright, which completely overturned all my understanding of tax laws🧠.
"Amateur investors enjoy studying how to make money, while professional investors prefer to study tax laws."
Joy always manages to find those topics that the public doesn't understand but are super important. This episode reveals that the concept of "taxes are honorable" that has been instilled in us since childhood is, in Tom's eyes, almost a "scam" and is "the biggest 'gaslighting' event in American history."
If you invest $10,000 with an annual return of 10% for 30 years, paying a 40% tax means you will only receive about $60,000, while tax-free you could get nearly $200,000! If you also consider investment tax deductions, the difference could even reach levels like "from $300,000 vs $40 million."
The core point revealed by Tom is profound: don't view tax laws as a burden, but rather as an "investment guide." Areas with high tax breaks are precisely where the government wants you to invest. This completely refreshes my understanding of taxation!
The most interesting part is what Tom said when he commented on Trump's tax return: "If he actually paid taxes, then he probably hired the worst tax advisor in the world."
Becoming a true investor is not defined by behavior, but rather based on mindset and understanding of the system. As Joy said at the end: "To change reality, you must change behavior; to change behavior, you must first change your mindset."
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Joy is a treasure finance blogger that I watch every issue, like regularly upgrading the system for my brain, each time refreshing my cognitive boundaries! In this episode, she invited Robert Kiyosaki's tax strategist Tom Wheelwright, which completely overturned all my understanding of tax laws🧠.
"Amateur investors enjoy studying how to make money, while professional investors prefer to study tax laws."
Joy always manages to find those topics that the public doesn't understand but are super important. This episode reveals that the concept of "taxes are honorable" that has been instilled in us since childhood is, in Tom's eyes, almost a "scam" and is "the biggest 'gaslighting' event in American history."
If you invest $10,000 with an annual return of 10% for 30 years, paying a 40% tax means you will only receive about $60,000, while tax-free you could get nearly $200,000! If you also consider investment tax deductions, the difference could even reach levels like "from $300,000 vs $40 million."
The core point revealed by Tom is profound: don't view tax laws as a burden, but rather as an "investment guide." Areas with high tax breaks are precisely where the government wants you to invest. This completely refreshes my understanding of taxation!
The most interesting part is what Tom said when he commented on Trump's tax return: "If he actually paid taxes, then he probably hired the worst tax advisor in the world."
Becoming a true investor is not defined by behavior, but rather based on mindset and understanding of the system. As Joy said at the end: "To change reality, you must change behavior; to change behavior, you must first change your mindset."