The Wealthy Will Never Tell You This

15 Apr 2023 · 1 min

Watch on YouTube

0:59

In this monologue, the speaker argues that building generational wealth is unlikely for lifelong employees, as most large estates are created by entrepreneurs who own businesses and corporate entities. He claims business owners earn far more than employees and can leverage the tax code—writing off expenses and reducing taxable income—something employees cannot do because taxes are automatically withheld. Anticipating common objections, he acknowledges the risks and hard work involved in starting a business but frames the potential upside as unlimited and worth the effort. The speaker concludes by inviting listeners to join his "Max Your Money" community, which now has over 13,000 members, with a signup link in his profile.

Chapters

Here is the one thing wealthy people will never tell you. You want to create generational wealth, enough money so you can pass on a large estate to your kids and your grandkids. That is highly unlikely to ever happen if for your entire working career you're an employee. The vast majority of generational wealth is created by people who started their own businesses and people who created their own corporate entities. On average, business owners make far more than an employee ever will. And here's a huge point. As a corporate entity, you can take advantage of the tax code. As an employee, you can't really do that. You're taxes are taken out for you by your employer. If you're a corporate entity, you can write off all kinds of expenses that you never could as an employee. All the naysayers will say things like this: it's too risky. Yes, it's risky, but the potential upside is unlimited. It costs money to start a business. It's worth it. I'll have to work too hard. Yes, you will. But do you want to create generational wealth or not? If you want to learn more, join our community. We're over 13,000 strong now, and you can sign up in my profile link for Max Your Money.