Where The Rich Move to Avoid Taxes
Money Rehab with Nicole Lapin
Money News Network
4.6 • 1.7K Ratings
🗓️ 22 February 2024
⏱️ 10 minutes
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| 0:00.0 | I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand. |
| 0:07.0 | It's time for some money rehab. So one of my biggest pet peeves is when so-called financial experts encourage people to |
| 0:19.6 | sweat the small stuff and tell you to go cut out your morning latte because those little expenses |
| 0:24.4 | add up. |
| 0:25.4 | I say in the finance world you should actually sweat the big stuff. |
| 0:29.4 | I mean why skip the $5 latte when instead you could lower the aPR on your credit card and potentially save thousands of dollars. |
| 0:36.8 | Sure, $5 latte does add up, but not like the thousands of dollars of savings to. |
| 0:42.8 | In relationships and in life it's the small stuff that matters most. |
| 0:46.9 | It's all about the little things. |
| 0:48.7 | But in finances, it's all about the big things. |
| 0:51.8 | And of all the big things you could sweat, |
| 0:54.0 | one of the biggest biggies is taxes. |
| 0:57.8 | Lowering your tax burden can change your life. |
| 1:00.3 | I know that sounds cringy to say out loud, |
| 1:02.4 | but the tax code where you live |
| 1:04.0 | seriously affects how much money you hold on to throughout the year. In fact many |
| 1:08.9 | savvy business people uproot their lives and move to a more tax |
| 1:11.9 | friendly state. |
| 1:12.8 | Jeff Bezos, for example, just recently relocated from Washington State to Florida, |
| 1:17.4 | this move is expected to save him $430 million in taxes. |
| 1:23.0 | Even if you're not a millionaire, setting up routes in a more tax-friendly state can save you a whole lot of money, |
| 1:28.0 | so I am not kidding when I say it could change your life. |
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