The Game with Alex Hormozi Strategy For The Ultra Wealthy | Ep 316
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Jul 8, 2021 Discover tax strategies that the ultra-wealthy use to maintain and grow their wealth. Learn how where you live can significantly impact your tax liabilities. Embrace a mindset that values long-term growth and personal freedom over fleeting savings. Transform your buying habits to align with those who have achieved incredible financial success. Dive into insights on wealth management and the potential pitfalls of short-sighted strategies.
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Location and Taxes
- Prioritize living in a low-tax state to minimize your tax burden.
- Consider moving to Puerto Rico or expatriating for significant federal tax reductions, but weigh the lifestyle implications.
Wealth Growth
- Most of your wealth comes from asset growth, not initial contributions.
- Start investing early to maximize the benefits of compound interest over time.
Buying Strategy
- Buy assets below market value to instantly increase your wealth without immediate taxation.
- Focus on the long-term growth potential of assets, not short-term gains.