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The Game w/ Alex Hormozi
How the rich avoid paying taxes...MY strategy - Part 1 | Ep 312
Jun 24, 2021
13:01
Snipd AI
In this podcast, Alex Hormozi discusses tax strategies used by the ultra-wealthy and offers insights on living in tax-efficient states, increasing overall net worth, taking loans against assets, and the importance of long-term thinking and compound interest in wealth-building.
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Quick takeaways
- Tax strategies for the ultra wealthy include planning where you live to take advantage of tax-efficient states or countries
- The key to building wealth lies in buying assets below their worth and letting them grow tax-free over time
Deep dives
Tax strategies for the ultra wealthy
The podcast episode discusses tax strategies for the ultra wealthy and aims to challenge common beliefs around tax strategies. The speaker emphasizes that where you live can affect your tax strategy, suggesting living in tax-efficient states with zero or low income tax rates. The episode also explores the option of moving out of the United States, either by becoming an expatriate or living in places like Puerto Rico or the US Virgin Islands with favorable tax rates. It is highlighted that the wealthy focus on buying assets below their worth and letting them grow tax-free rather than engaging in short-term flips or relying on tax hacks.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode