WARNING
These are my personal experiences.
They apply to those living in the United States.
If you live in a socialist country I suggest you leave.
Or change leadership.
Anyone can read this, but you will be unable to take full advantage. Countries have different tax codes.
These are my personal experiences.
They apply to those living in the United States.
If you live in a socialist country I suggest you leave.
Or change leadership.
Anyone can read this, but you will be unable to take full advantage. Countries have different tax codes.
STEP 1 - GET A REAL JOB
You need to have a real job to take advantage.
Level up.
You: But MT told me a 9-5 is for sheep.
AoP: Without a real job, you have no tax free money.
Make sure you get one with a 401K.
What to do even better?
Land a nice government job with a 457.
You need to have a real job to take advantage.
Level up.
You: But MT told me a 9-5 is for sheep.
AoP: Without a real job, you have no tax free money.
Make sure you get one with a 401K.
What to do even better?
Land a nice government job with a 457.
STEP 2 - SLASH SPENDING
You need to cut spending like a madman.
TV
Cable
Only Fans
Starbucks
Dining Out
Fancy Cars
Video Games
Hollywood Propaganda
High-cost of living areas
GONE
Be a free man. Sovereign.
Hustle instead. Live LEAN.
It helps if you are in your 20s.
You need to cut spending like a madman.
TV
Cable
Only Fans
Starbucks
Dining Out
Fancy Cars
Video Games
Hollywood Propaganda
High-cost of living areas
GONE
Be a free man. Sovereign.
Hustle instead. Live LEAN.
It helps if you are in your 20s.
STEP 2 - SLASH
This step is essential.
My wife and I made 120K.
But we slashed our spending to only 40K per year.
This means we only had to realize 40K per year in salary.
The other 80K was punted. We lived off 40K.
That means we paid $0 dollars in taxes.
How? Keep reading.
This step is essential.
My wife and I made 120K.
But we slashed our spending to only 40K per year.
This means we only had to realize 40K per year in salary.
The other 80K was punted. We lived off 40K.
That means we paid $0 dollars in taxes.
How? Keep reading.
STEP 3 - Make Babies
This part is fun. It also has great tax benefits.
If you are married with two kids your first 65K is tax-free. ZERO PERCENT. No strings attached.
Chose an attractive partner when you are on this step. "Aesthetics are Ethics"
This part is fun. It also has great tax benefits.
If you are married with two kids your first 65K is tax-free. ZERO PERCENT. No strings attached.
Chose an attractive partner when you are on this step. "Aesthetics are Ethics"
STEP 4 - The 457
Praise the lord if you have this account.
It is a LIFE HACK and no one talks about it.
This is offered primarily to government employees.
Some companies do offer it though.
Big bonus if they do.
If you can find a gig that has it consider yourself MADE.
Praise the lord if you have this account.
It is a LIFE HACK and no one talks about it.
This is offered primarily to government employees.
Some companies do offer it though.
Big bonus if they do.
If you can find a gig that has it consider yourself MADE.
STEP 4 - The 457
Why is this so good?
1. It stacks WITH a 401K and Trad IRA.
A married couple can stash 91K a year tax-free.
2. You defer your taxes and can withdraw at ANY age. All you need to do is leave your job.
Once you have a couple million.
This becomes a piggy bank.
Why is this so good?
1. It stacks WITH a 401K and Trad IRA.
A married couple can stash 91K a year tax-free.
2. You defer your taxes and can withdraw at ANY age. All you need to do is leave your job.
Once you have a couple million.
This becomes a piggy bank.
STEP 5- The 401K
This is the basic investment vehicle.
Most only have this. USE IT.
Employers often match contributions.
Fund this to the MAX.
If you only have access to a 401K you can stash 39K.
Once this is fully funded go to a Trad IRA.
Then you can stash 52K in total.
This is the basic investment vehicle.
Most only have this. USE IT.
Employers often match contributions.
Fund this to the MAX.
If you only have access to a 401K you can stash 39K.
Once this is fully funded go to a Trad IRA.
Then you can stash 52K in total.
Step 5 - The 401K
MT: But some “guru” told me you can’t access the money until you 60 years old. WRONG
You can convert a 401K into a 72T.
The 401K turns into a massive passive income stream.
NO PENALTY
This is why I laugh at dividend guys.
Understand?
-credit to @Ed_Mills_
MT: But some “guru” told me you can’t access the money until you 60 years old. WRONG
You can convert a 401K into a 72T.
The 401K turns into a massive passive income stream.
NO PENALTY
This is why I laugh at dividend guys.
Understand?
-credit to @Ed_Mills_
Step 6 - Brokerage Accounts
Capital Gains is 0% for income under 80K.
And I just told you how to get there.
Fund an account with extra cash.
I once paid 0% on a 15K profit trade made in $TQQQ.
Tax-free gambling and I get to live in a first-world country.
God Bless America
Capital Gains is 0% for income under 80K.
And I just told you how to get there.
Fund an account with extra cash.
I once paid 0% on a 15K profit trade made in $TQQQ.
Tax-free gambling and I get to live in a first-world country.
God Bless America
Step 7 - Start a Twitter Account and post French Impressionist Paintings.
You legitimately have done NO work and you are rich.
You are living the dream.
A married couple can do this in 7 to 10 years.
Age 30. No worries. Living the good life.
Now you can post memes all day.
You legitimately have done NO work and you are rich.
You are living the dream.
A married couple can do this in 7 to 10 years.
Age 30. No worries. Living the good life.
Now you can post memes all day.
IMPORTANT
1. Avoid Roth IRAs
2. Low-ratio funds only
3. Leave your job if they have bad plans
BONUS: Saver’s Tax Credit gives you 2K more in credits. US Gov pays you to save. This is not factored into my calculations.
AoP has now made you a millionaire.
Cue the dumb comments.
1. Avoid Roth IRAs
2. Low-ratio funds only
3. Leave your job if they have bad plans
BONUS: Saver’s Tax Credit gives you 2K more in credits. US Gov pays you to save. This is not factored into my calculations.
AoP has now made you a millionaire.
Cue the dumb comments.
Why avoid the Roth?
The problem with the Roth is that you cannot take advantage of the tax breaks. Yes, you do get the gains for free BUT when you are older you will have fewer expenses.
Will you have children or a mortgage when 60? NO
You will need less money, if you are smart
The problem with the Roth is that you cannot take advantage of the tax breaks. Yes, you do get the gains for free BUT when you are older you will have fewer expenses.
Will you have children or a mortgage when 60? NO
You will need less money, if you are smart