4.3 • 602 Ratings
🗓️ 20 February 2015
⏱️ 43 minutes
🧾️ Download transcript
#19: Benjamin Franklin said, “In this world, nothing can be said to be certain except death and taxes.”
Has today’s guest, Rich Dad Advisor Tom Wheelwright, CPA, turned that upside down with his popular book, Tax-Free Wealth?
Tom’s firm could help you permanently reduce your taxes, like he has done for Keith. That’s like a risk-free return.
Listen to this week’s show and learn:
03:30 Michael Jordan had coaches and teammates. To grow large, you’ll eventually need them too.
06:25 Over the course of your life, your greatest financial expense will be taxes.
11:43 This is the largest new tax change for real estate investors since the 1980s.
15:07 How to save tens of thousands in taxes with a Cost Segregation.
22:20 The “magic” of depreciation.
29:31 Why you should pay zero tax on your real estate – no capital gains tax and no tax on your cash flow.
32:35 Why not to use your IRA to invest in real estate.
35:55 The tax benefits of oil & gas direct investing vs. oil & gas stock investing.
Resources mentioned:
www.ProvisionWealth.com or call 1-866-467-5809
www.AudibleTrial.com/GetRichEducation - Get a free audiobook & 30-day free trial.
Tax-Free Wealth book by Tom Wheelwright
Click on a timestamp to play from that location
0:00.0 | Get Rich Education is brought to you by Refoil and Gas Companies, Partners in American Energy Production for World Consumption. |
0:12.0 | Welcome to Get Rich Education with Keith Winehole, giving you information and ideas on the investment that |
0:22.9 | has turned more ordinary people into millionaires and billionaires than anything else, |
0:29.1 | and can provide you with more wealth and happiness than you ever thought possible. |
0:33.8 | Now here's your host, investor, entrepreneur, business owner, and educator, Keith Winehold. |
0:44.9 | Hey, welcome to GRE, Get Rich Education Show 19. I hope you've had an abundant week, |
0:51.5 | expanding your knowledge, expanding your means, and making money follow you. |
0:56.7 | I want you to experience some of these real estate investing epiphanies like I've had. |
1:04.4 | When you close on that first out-of-market turnkey single-family home with a reputable provider |
1:10.7 | and get that first monthly |
1:12.6 | cash flow check? Say it's $212. That's a real, ta-da. It's sort of magical. You just made money |
1:22.5 | follow you. That's $2,500 a year and it doesn't have a big impact on your life yet. But that's only your |
1:32.3 | first property and now, no matter where you go, that money will follow you and you didn't work |
1:38.5 | for it. Another, ta-da, is when you realize that the power of leverage is building a massive accumulated pool of wealth for you at the same time those monthly cash flow streams flow in. |
1:53.4 | So, you know something? It's kind of funny. I just looked over to make sure that a sign that I post on the door is still there. |
2:00.2 | Before recording here, I tape a handmade sign onto the outside of the glass front door |
2:06.8 | that says, please don't ring the doorbell I'm recording. |
2:10.7 | Well, in Anchorage during the wintertime, it's often below freezing. |
2:14.9 | Sometimes the freezing weather makes it so that the tape won't stick and the sign falls down flat and face down onto the sidewalk. |
2:22.3 | I want the sign to stay up. I don't want a UPS delivery person ringing the doorbell and screwing up the show. |
2:27.3 | In five years, maybe it will be the Amazon drone at the door instead, and they'll contact me by text |
2:35.7 | rather than by doorbell, and I can just silence my phone. So, well, hey, for some much |
... |
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