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How to invest in the market? Some of you must laugh when you see articles like this. I know some of you may be on the edge of bankruptcy, maybe they are coming for your house. I know what it feels like. I’ve been there. Have a good cry, look in the mirror and feel sorry for yourself then decide if you want to play victim for the rest of your life or take steps, get help to finally start making the best financial decisions, the tough decisions and end up living the life you want now and in the future.
You all overpay income taxes to the federal and state governments. As a wealth advisor and CPA, I can tell you the easiest way I have found clients a lot of money is by just concentrating on their tax returns. While I never met any person who wanted to pay more in taxes, from my experience you ignore how to pay less taxes. I am speaking of overpaying taxes and by thousands if not tens of thousands of dollars, annually. This results in you working more years of life and working harder in your job. It also lessens the probability you are earning the cash flow you need to live the life you want now and in the future.
Everyone has heard of compounding. Most associate it with compounding interest or money growing on money via long-term investing. Einstein once said those who understand compounding are rewarded by it. Those who don’t pay it.
In my experience, most know compounding intellectually but don’t believe it and certainly do not make long-term investing decisions on it. In fact, most make decisions that are “anti-compounding” or my term for not harnessing its power. Those who don’t like Einstein’s quote pay for this lack of knowledge by working longer and harder in life and not living the life they wish now or anytime in the future.
How would like to be able to be 100% correct every time you had to make a financial decision? Sounds far-fetched, right? If you can do in cooking following a time-tested recipe of Julia’s then you can do so by following my proprietary, time-tested “recipe” that I have taught thousands for over three decades on how to build wealth: The Wealth Building Formula ®.
There is no lack of shows that portray a fabulously wealth person or family. Social media articles are published daily discussing the lifestyles of celebrities as they jet around the world. A lot of times, people tie fame to financial success and think these people always know how to make financial decisions better than most. In reality, everyone rich or not, has trouble making the best financial decisions for themselves.
Most business owners wait until the beginning of the next year, after the current tax year ends, to send their tax information to their professional. I have seen so many get their information in with maybe weeks or even days before the filling deadline. And then the information is spotty or incomplete. How can you expect your accountant to find tax savings from the year before, when the year is over.