Books and Bars: "Tax Free Wealth" by Tom Wheelwright
Sports Motivation Podcast
Niyi Sobo
4.9 • 767 Ratings
🗓️ 6 February 2019
⏱️ 15 minutes
🧾️ Download transcript
Summary
It's not about how much you make; it's about how much you keep. I know, like me, you've had times when you've gotten paid only for your face to turn pale once you realize how much Uncle Sam took from your check. One of the keys to wealth is minimizing taxes, and growing the money you make, instead of just handing it over to the government. In this episode, I share a book with you that has forever changed the way I look at money. #BOOKSandbars
Transcript
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| 0:00.0 | Welcome to the sports motivation podcast. This is your host, Nees Showbo. This is books and bars where I break |
| 0:06.2 | down excerpts from my favorite books, lyrics, aka bars from my favorite rap songs, and share with you |
| 0:13.7 | my take on them and how they've impacted me. All right? So today I'm breaking down a book. |
| 0:18.2 | And this book is not a motivating book or inspiring book or an ancient classic. This is a classic. This is a book that is about taxes. All right. And if you guys have signed up to get my top 100 book list, which you can. If you go to my website, I'm NotU.com, |
| 0:38.0 | and you can get that where I break down my top 100 books. You will find in my top 10 |
| 0:45.0 | this book about taxes. All right. No. So the question becomes, why am I so hype on this book? |
| 0:52.4 | Why do I believe it's so important? So let me give you a big picture first in order to best understand this. All right. So when you go to say you want to be a professional athlete, let's say, right? Let's say you say, man, I want to be one of the best in the world. And you start off, maybe that dream started as a kid. Now, when you were a kid, you didn't really have quite of a clear idea of what it was actually going to look like to become a professional. And so as you grew, as you progressed towards that goal or towards that dream, it started to look more real to you. And what I mean by that is the strategy that you needed to employ in order to reach |
| 1:28.3 | that goal started to become clear. And you had to make choices along the way. So if you actually |
| 1:34.6 | wanted to reach that goal, you had to do certain things. You can't avoid certain things, right? |
| 1:40.6 | So let's say, for example, you wanted to play professional football. You kind of have to go to college, right? Well, I don't know how true that is now, but at least in my days, that was the route by which to get to the NFL. So if you chose not to do that, you're kind of forfeiting your ability to get to that next level. So in any realm, anything that you want to accomplish, that is true. You're not going to be able to get to that next level. So, and in any realm, anything that you want to accomplish, that is true. |
| 2:04.8 | You first start out with this vague idea about what you want to do, and then as you learn and |
| 2:08.7 | learn, you start to understand what's going to be necessary for you to accomplish that goal. |
| 2:13.2 | Wealth is no different. |
| 2:15.0 | Let's say you're like me. |
| 2:16.4 | You have the desire, the goal, the vision to be |
| 2:21.6 | incredibly wealthy. However you define that. To basically, you're not afraid of that. Some people |
| 2:28.0 | try to act like they don't want money and all that. I'm not talking to you types. I'm talking to |
| 2:31.5 | the types that unapologetically want to make a lot of money. |
| 2:34.7 | You want to live a certain lifestyle and want to have that lifestyle be passed down to generations from now. |
| 2:42.2 | Right. As you start to get more and more serious about that goal. So if you don't get serious |
| 2:49.6 | about it, then you're just a dreamer like anybody else, right? |
| 2:52.2 | You're saying you want to be wealthy and then you got one checking account, no investments, |
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