Now that you’ve had time to recover from the April 15 tax trauma, let’s examine the ever-popular strategy of “making money by saving on taxes.” This is an easy one – it doesn’t exist. I know, your accountant said, “If you contribute to your IRA or 401k before filing day, you’ll be saving on your taxes.” And you thought, “Wow – less money for them, more money for me!” Really?
In actuality, you’re not saving a penny; you’re simply deferring it. When it comes to the government, you have two choices: pay me now or pay me later. Either way, your tax is still going to be paid and paying it later did not add, at all, to your wealth.
So if creating real wealth has nothing to do with the tax code, tax savings or the time you choose to pay your taxes, what does it have to do with? It’s simple: wealth creation is all about following the right process or strategy. And, as a point of interest, the right strategy for creating wealth is the same for you as it is for the largest banks and Fortune 500 corporations in the U.S.
To start, your focus should be to grow your capital, whether money, real estate or other property, and, then to preserve and protect it. With that focus, in mind, your strategy begins by following a time-tested set of principles: being productive or earning income, leveraging or using other people’s money, velocity or how fast your money comes back to you and liquidity, how easy it is to access your capital. By the way, if you can truly save taxes, in the process, that’s a bonus.
As stated earlier, these are the same principles that allow our leading financial institutions and companies to make incredible amounts of money. These winning strategies are proven to be a successful course for creating real wealth. Why else would these major institutions implement them? And yet, these principles are not available in most individual savings plans or even discussed by most financial planners today. They simply don’t know enough about them.
But with The Infinite Banking Concept that is exactly what we do. In fact, it’s all we do. First, we concentrate on your ability to grow your capital through leverage, velocity, and liquidity. Then, we focus on preserving your wealth through a permanent tax strategy, rather than a temporary deferral of taxes. We won’t just kick the tax can down the road and hope it works out, favorably for you, in the future.
With The Infinite Banking Concept, you’ll be well on your way to growing your wealth, with a solid foundation; preserving your wealth; developing solid sources of income and building your ideal retirement. Really.
For more information about Paradigm Life and Infinite Banking, download our article or contact us at info@paradigmlife.net or by phone at 1-800-870-8670.
