Chris Prefontaine explains two ways to cut taxes as an investor: use tax-friendly assets like real estate and businesses to create deductions, and use the Shred Method to accelerate principal repayment on loans so you pay less interest over time.
If we're going to use step three, it's this: How do we minimize taxes? Well, that's for a different show and a different guest, probably. But it's it's buying real estate, and it's owning businesses and doing creative things so that you can turn personal expenses into business expenses. That's the kind of thing you would do to minimize taxes. Secondly, is how do we minimize the interest expense on debt? And this is where most people don't even know that it's possible to do. But we show folks through the Shred Method how do you accelerate. amortization table, get faster through the debt paydown process. So the first 10 years are not entirely interest. The majority of it is actually principal.
Episode 575: Redefining Retirement as the Day All Your Choices Open Up with Doug Bennett
