Thoughts On Independence Day, Wealth Building & Real Estate
Independence Day is one of those great American holidays when the BBQ grills come out, the fireworks get broken out, and most of us are able to grab a few extra hours to spend time with friends and family. But, there’s more to it than that isn’t there?
The American Dream
The 4th of July is inseparable from the American dream. Both the original American dream, and the current dream of a prosperous life, which attracts millions of people around the world to want to come here.
A lot of the Independence Day celebration today is about celebrating our freedom to pioneer our own futures and exercise our entrepreneurial spirits.
Going back to this holiday’s origins, it was about freedom from high taxes. It was about the freedom to own our own land, and to work and invest, and see the rewards, and actually enjoy progress.
The Reality Today
Despite some criticisms, America is still one of the most entrepreneur and investor friendly landscapes in the world. Of course, when you dig into the numbers, many lay out that there are now probably 2-4 times the number of different taxes in America, and we’ve gone from perhaps paying around 1-2.5% of our income in taxes under British rule, to often paying 40%, or more of our income in taxes.
When it comes to land, much of it may be held by the government (and you’ll pay taxes even on your own property), or by big hedge funds and established rental property investors, and there are certainly more restrictions on what you can do with most properties. But, you can buy it, own it, rent it, flip it, build on it, repurpose it, and profit from it. And, doing this is one of the best ways to reduce, and stay protected from taxes on your income and investment gains.
Leveraging & Flexing Our Independence
We cannot take our freedom for granted. So many people will never enjoy this level of freedom. Millions have given their lives for it, and others are risking their lives for our freedom right now. Millions have likely lost their lives trying to get here to get a taste of it, and to help their families.
One of the best ways we can honor these sacrifices, and use is through real estate. If you are already investing and are living a freer life because of that, that is great. Maybe you can do more before the next anniversary of Independence Day, and can help introduce others to the benefits
If you are not, take this 4th of July to celebrate your freedom and opportunities. Then spend some time this weekend planning how you will take advantage of this freedom, and build in the best tax protections
Not sure how? Register yourself for a boot camp or coaching so that you get a clear map of where to go, and the help you need to get there.
What will you do with your freedom?