My First Million
How to retire with millions (and pay $0 taxes)
May 14, 2025
Ankur Nagpal, founder of Teachable and Carry, is a savvy investor known for his focus on tax optimization and wellness. He discusses IRS loopholes to help listeners retire with millions while minimizing tax burdens. Ankur also shares six innovative business ideas, including an Executive Clinic for Aesthetics and a Homeownership app. The conversation dives into advanced investment strategies like mega backdoor Roth conversions and reveals insights about the rising wellness industry. Plus, he highlights the potential of new sports trends like padel.
01:11:30
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Quick takeaways
- Leveraging Roth IRAs allows for tax-free growth on investments, potentially resulting in substantial wealth accumulation through strategic investing.
- Direct indexing offers a method for maximizing tax efficiency by allowing investors to actively manage capital gains and losses more effectively.
Deep dives
Roth IRA Tax Optimization
Using Roth IRAs can lead to significant tax advantages for individuals, with stories of people accumulating eight- and nine-figure balances from vanilla investing strategies. The Roth IRA allows investors to put in after-tax money, enabling tax-free growth on investments. Notably, individuals like Peter Thiel have used clever strategies to maximize their tax benefits, including placing low-value stocks in their accounts that later appreciated dramatically. This approach underscores the importance of tax-efficient investing, particularly for high-income earners seeking to maximize wealth without incurring future tax liabilities.
