Hello, dear one!
It’s tax season again! Have you ever complained about the guaranteed tax increase? How can you build wealth if you’re continuously harassed with various taxes?
What are ways to combat and win the tax battle?
I have been a seminar junkie since the mid-nineties. I intuitively knew my lack of knowledge and purpose in life and was eager to learn anything new.
For what I paid for flights, hotels, seminars, books, and mentors before the lockdown, I did pick up a life-changing habit that has transformed my life, including reducing my tax liabilities.
The Millionaires have one thing in common: They all are insatiable daily learners.
Instead of fearing and growling at tax, they study it. Some of them can spit out U.S. tax codes like telling a childhood story. Almost all of them invested in real estate because they know where the government wanted them to spend money.
They regarded the U.S. tax codes as the roadmap to their riches. For example, people always need housing, and the government is not interested in property production and maintenance. The tax codes encourage and reward the acquisition of private properties and their maintenance.
But real estate was only one way. When I learned how to offset the cost of health insurance, I freed myself from working full-time for health benefits, which only benefited my corporation and all government agencies.
However, does your accountant actively educate or aggressively advise you on tax savings? How many high school graduates know how to read a company’s profit and loss balance sheet? Are college graduates financially literate and prepared for the real world?
The system has been strategically designed to entrap and enslave us so that we function like robots living a boxed life.
We wake up in a box (a home), drive a box (a car) to work, sit in front of a box (a computer) and next to a box (a cellphone), return to a box (a home), and may end the day with a box (a television with fake news).
Did I mention fake news? Do you remember the recent crisis at Silicon Valley Bank?
Well, didn’t Jim Cramer, the financial guru on CNBC news station passionately touted his viewers to buy Silicon Valley Bank stocks only a few days before its crash?
I’m not talking about becoming financially consummate, but being a financial rube will hurt.
As a nursing student, I only heard the name, Sigmund Freud. Ironically, I didn’t study him until one of the seminar presenters shocked me with his quote,
“Most people do not really want freedom because freedom involves responsibility, and most people are frightened of responsibility.”
It was brutal because I looked for saviors in my life, hoping things would be easier. But my life didn’t get easier until I became my savior and took responsibility to learn.
And it only took 20 minutes a day to transform my life.
Don’t undermine the power of 20 minutes a day. In six days, you’ll have studied for 120 minutes or two hours. And in a year with 52 weeks, you’ll gain 104 hours of knowledge on any subject your heart desires!
What are 20 minutes? You could have scrolled social media and watched fake news, which may not add value to your life. Or you could invest in reading, researching, writing, or listening to podcasts that will build up your financial and spiritual muscles.
Your old friends may not be in the season to join you, so get on with your life and meet new ones. I made friends with teachers from another lifetime, like Roman philosopher Seneca, and I took his advice to my heart:
“Each day acquire something that will fortify you against poverty, against death, indeed against other misfortunes as well; and after you have run over many thoughts, select one to be thoroughly digested that day…”
I was naturally a lazy and naive follower. But because I learned to be a daily student, I’ve become a critical thinker to lead my life, instead of being led by life.
By associating with people who are likely to improve me, I now understand why wealthy people are often more spiritual when they define wealth in this way:
“Wealth is what you have left over when you’ve lost everything.”
Doesn’t it surprise you that a billionaire advised his daughter not to choose a man who’s loaded with money, but to grow with a man who never ceases learning?
Because a man who receives a million can become poor if losing it, but a man who has learned how to make a million will double it after losing it.
What you possess outside can be taken away instantly by a disaster, but what you hold inside is yours forever.
The more you invest in learning regularly, the less you’ll be attached to anything, anyone, or any place. When learning becomes your daily habit, you’re versatile in facing life’s events. That’s wealthy inside out.
When God created us, He gave us sovereignty (I’ll write more about it). Take it back with daily learning. The Bible calls you the king or the queen of the King, and YOU ARE! Slave no more——