Day 406 - Take zero salary - https://golifelog.com/posts/take-zero-salary-1644460016144
Big lesson about money: Capital income > earned income
“Earned income (aka your paycheck) is the hardest type of income to earn and the most heavily taxed. The wealthy understand this, which is why the bulk of their income comes from assets, which are taxed significantly less.”
"How do the rich pay almost no tax?
Most don’t take a salary. They understand that earned income is taxed at a high rate.
They invest in assets such as stocks and real estate and never sell. An asset that isn’t sold can’t be taxed."
– @basicfinancialliteracy_patrick
“Earned income (aka your paycheck) is the hardest type of income to earn and the most heavily taxed. The wealthy understand this, which is why the bulk of their income comes from assets, which are taxed significantly less.”
"How do the rich pay almost no tax?
Most don’t take a salary. They understand that earned income is taxed at a high rate.
They invest in assets such as stocks and real estate and never sell. An asset that isn’t sold can’t be taxed."
– @basicfinancialliteracy_patrick