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Money Guy Show

How to Legally Hide Money from the Government FOREVER in 2021 (Roth Secrets Revealed)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 19 February 2021

⏱️ 61 minutes

🧾️ Download transcript

Summary

Tax evasion is illegal, however, tax avoidance is highly encouraged. Roth accounts provide an outstanding opportunity for tax advantaged retirement savings and wealth building. This powerful investment vehicle was created to encourage everyone to save for retirement and see the beauty of investing in their financial future. This episode will teach you exactly how to take advantage of this opportunity in your own financial life. For more information, visit: https://www.moneyguy.com/2021/02/legally-hide-money-from-the-government-forever-roth-secrets-revealed/(opens in a new tab) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

How to legally hide money from the government forever and ever and ever

0:06.1

It's Brian Preston the money guy restoring order to your financial chaos retirement

0:13.8

Investing taxing you've got financial questions. He's got financial answers. It's Brian Preston the money guy

0:23.1

I was trying to get that oh, I think we got it. I think I guess we got to leave that in there. All right

0:27.8

I was already excited about this show now. I'm even more excited about this show because we have told you guys over and over and over again one of our most

0:40.2

Favorite things in the world is finding ways to not pay tax legally and there's legally legally

0:47.7

That's right legally. We say this all the time

0:50.3

Tax evasion is illegal it will get you arrested it will have people come and take your stuff

0:57.7

However tax avoidance is highly encouraged and we have an entire tax system

1:03.0

Set up to help you avoid taxes and one of the best mechanisms

1:06.9

Through which you can do that over the long term is this magical thing called Roth

1:13.9

Yeah, I mean look guys

1:15.9

Focus on retirement savings. Why does the government give us such tax advantages for retirement savings?

1:24.8

It's because they recognize and this is something we were talking about where did Roth IRAs come from the government

1:31.2

Recognize the healthier you are financially the better it is for society

1:36.5

So they really try to give you a stick and care to approach of

1:40.7

Encouraging you to save for your future. So that's a great question Brian

1:44.4

Where did Roth come from while in true full-time equivalent Daniel fashion?

1:49.5

He put together a little timeline for us and this is what Daniel found in 1990

1:54.7

I say Daniel found you lived through this maybe I should just give you you were born in 1997

1:59.4

I was born in 97. I was doing all kinds of important things where you potty trained in 1997

2:03.8

I was doing important stuff in 97 so this is what we know Roth IRAs were introduced as you kissed the girl

...

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