Finding the super secret deal.
Q: “What are the recommended tax havens or investment ideas?”
A: It's good you asked. There are many special tricks that rich people are hiding from you that we use to get rich without any work, time, or sacrifice. But now that you have asked, I am required to reveal them to you!
1. Max out your retirement plan. Not only can you legally avoid paying taxes on that income, you may get free money from your employer in the form of a match. If it's a dollar for dollar match, that means a guaranteed doubling of your money! There's no better guarantee in the world of investing!!
I know, that's not what you wanted to hear. It's super boring, right? You already knew about all of that, right? That can't possibly be it!
Only it is. Most of the people I know who are self-made millionaires got their start doing exactly this. I'm so sorry to disappoint you.
The good news is like Dorthy in the Wizard of Oz, the secret you are looking for you've had all along. You knew you were supposed to be putting money in your retirement plan, but ARE YOU? 🙂
If you get into real estate investing you can shelter some income that way, but that’s graduate level stuff. Not because you aren’t smart enough to do it now, but because there is a huge learning curve that will probably include financial setbacks and there can be unexpected expenses with a physical asset (property). Do that AFTER mastering all the basics as real estate is an investment you may have to “feed” and so you need plenty of extra money to do that.
Are you ready to change your financial life? If so, I can help. Schedule a time to talk to me about options for working together at https://lisaduke.net/schedule
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