Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

How to Use Taxes and Debt to Build Wealth

Oct 23, 2024
Tom Wheelwright, a CPA and tax strategist, joins Jason Hartman, CEO of Empowered Investor Network, to share key insights on building wealth through effective tax strategies and real estate investments. They discuss leveraging tax incentives to minimize liabilities while investing in government-supported sectors. Jason emphasizes the stability of real estate, particularly in 'boring' markets, as a smart wealth-building strategy. The duo highlights the necessity of continuous financial education and mentorship for navigating economic uncertainties.
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ADVICE

Get Educated

  • Decide to get educated by smart people, especially in uncertain times.
  • Commit to continuous learning and choose mentors wisely.
INSIGHT

Tax Incentives as Discounts

  • Governments offer tax incentives, similar to discounts, for investing in specific sectors.
  • These incentives can significantly reduce your tax burden, like a discount on investments.
ADVICE

Research Real Estate Markets

  • Research potential real estate markets thoroughly, including demographics and landlord-tenant laws.
  • Visit locations and utilize online tools like Google Maps for due diligence.
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