Understand Tax Implications - Secrets of the Super Wealthy

Here is a Understand Tax Implications - Secrets of the Super Wealthy Lesson

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For most investments, you have to pay tax.

For example, with a dividend-paying stock,

an investor must pay tax on the dividend they receive.

So, wealthy people understand that any investment is

only as good as how much they’ll be taxed.

Buffett wrote in The New York Times that if an investor presented him

with an excellent investment idea, whether he invested depended on

the tax rate on the gain. If the taxes are too high, Buffett wrote that

he’d rather keep his money in a savings account, “earning a quarter of

1 percent.” So that goes for anyone: Before you decide whether to invest,

be sure you know the tax implications.

Since there is no one secret that can make you instantly rich — be patient.

Whichever secret you implement into your own wealth-building strategy,

just remember that it takes time to accumulate wealth over the long term.

And of course, like Zuckerberg, don’t be afraid to make mistakes.

Simply learn from them.

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