Page 93 - Charles Calhoun Book Rich As You Want To Be
P. 93
CHAPTER 8: INVEST IN A TAX PROTECTED
PLAN
The government will help you save for
retirement or financial independence. Of
course, they expect to share your profits too.
That is fair and works for you anyway.
The next step is to invest in a tax-protected
plan such as an IRA, a Roth IRA, a 401(k), a 403(b),
or another tax-protected plan. Getting a good
education, earning a good income, and saving are
very important. But it is also important to learn
about, understand and pay attention to taxes and
how they can affect your money and investments.
It was once said, “The power to tax is the power to
destroy.” That said, it is very wise to pay attention
to taxes and have the rules work for you and not
against you. If you don’t pay attention, they can
work against you and damage your financial future.
Numbers can sometimes be boring. But
when those numbers are about your money,
investments or wealth, they will not be boring. In
fact, they may be very exciting and up lifting. The
concepts discussed in this chapter are a key to
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