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When you make a lot of money you realize how crucial it is to learn how to optimize your financial life. Unfortunately, a lot of rich people are rich because th
by bsvalley 8y ago
When you make a lot of money you realize how crucial it is to learn how to optimize your financial life. Unfortunately, a lot of rich people are rich because they learned how to deal with “too much money” type of problems. I don’t want to mention it here on HN, but setting up a smart tax strategy is probably on top of the list. A lot of (not all) rich people get richer because they endup paying less taxes. I’m not an advocate of that strategy but when you face it in real life, there’s no more “rich people need to pay more taxes”. It really hurts when you understand the potential of that big pile of money you could invest in creating more jobs, innovation, etc. Again, I’m not against paying taxes... just sharing a learning experience.
Also, donating money becomes natural when you get a lot of it. You become more generous, which I thought would be the complete opposite. I guess if you weren’t born rich, you’d most likely give back by becoming rich.