Action Tip: When investing you have to beat inflation and taxes. Some taxes in your life to consider are:
- When you invest, you could pay income taxes or capital gains taxes
- When you earn money, you pay income taxes
- When you buy something from a store, you pay sales taxes
- When you buy property and in some places a car or boat, you pay property taxes
- When you give money, you could pay gift taxes
- When you die, you could pay estate taxes
Live below your means for a richer life.