Page 104 - Charles Calhoun Book Rich As You Want To Be
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it would leave that $100,000 in your hands where
you could use it as you wish.
And what might you do with that $100,000
per year? You might pay for a child’s or
grandchild’s college education. You might start a
business or invest in a business. You might
contribute to a good cause or charity close to your
heart. You might live in a better home or
neighborhood. The possibilities are endless.
The examples we gave in the last chapter
showed examples that paid an income of $46,000
and $26,000 per month. Well, if that were invested
inside a Roth IRA, that would be $46,000 per
month tax-free. So instead of having just $30,000
to keep and a $15,000 TAX BILL, you would have
the entire $46,000 to keep and spend as you wish.
It’s truly an amazing thing.
Our advice would be to definitely save money.
Pay yourself first. Begin your investments at as
early an age as possible. Invest in an IRA or other
tax-protected plan. And when you are choosing an
IRA, choose a Roth IRA when possible because the
tax benefits are fantastic!
Main point: If you reduce your future tax bills
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