The key to becoming wealthy is the ability to convert earned income into passive income and/or portfolio income as quickly as possible. The taxes are highest on earned income. The least taxed income is passive income. That is another reason why you want your money working hard for you. The government taxes the income you work hard for more than the income your money works hard for.
The rich incorporate their assets and are able to: Earn, Spend and Pay Taxes on what is left.
The poor and middle class work at a job and must: Earn, Pay Taxes and then Spend what is left.
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