Get Rich Education 174: Why You're Worth More Than You Know, Taxes, LLCs, and Cash Flow vs. Appreciation
#174: You actually want to increase your personal expenses over the long-term. What kind of financial blasphemy is this? I explain.
You are worth more than you think. I tell you why.
If you’re 30 and you live until age 90, you only have 60 more autumns in your life. You only have 7% of your time left with your own parents. Your quality time is valuable and fleeting.
Some people have an overinflated sense about the importance of taxes. Rate of return matters more. Returns are like a pie, and taxes are only a piece of the larger pie.
If your portfolio is small, do you really need an LLC for your income property?
There’s a discussion of appreciation vs. cash flow.
I bring you today’s show from the Dominican Republic, where I'm vacationing.
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Listen to this week’s show and learn:
01:16 Over the long-term, you actually want to increase your expenses.
07:19 Why you are worth more than you think.
09:05 Measuring your life in terms of events and relationships.
20:37 If mortgage interest rates go up, rents go up next.
22:15 Rate of return is more important than tax rate.
24:16 Why do you think you need an LLC?
28:07 Real estate appreciation vs. cash flow.
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