Years ago, my rich dad told me, “When it comes to taxes, the rich make the rules.” He also said, “If you want to be rich, you need to play by the rules of the rich.” The rules of money are skewed in favor of the rich, and against the working and middle classes. After all, someone has to pay taxes.
There are many ways that the rich make a lot of money and pay little to no money in taxes. On the flip side, the poor and middle class toil away for their money, pay more in taxes the more they earn, and then park their earnings in savings and/or retirement accounts.
In the meantime, they receive little or no cash flow on which to live while waiting for retirement — when they’ll live on their meager savings. Doesn’t it make more sense to play by the rules of the rich, and earn more while paying less in taxes?