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He's teaching them the most important lesson of living in a capitalist system: wealth comes from having money, not from earning money.
by pickleglitch 1y ago
He's teaching them the most important lesson of living in a capitalist system: wealth comes from having money, not from earning money.
- SirMaster 1y agoIt's better to invest in assets though than just the stock market. The wealthy build wealth by borrowing and buying assets like real estate. This ways makes it easier to avoid income taxes and capital gains taxes and you also get massive tax deductions for asset deprecation that you can use to offset most or all of what income it does provide.
- exitb 1y agoIf he's not able to also provide them with a sizeable initial capital, this lesson is also completely irrelevant. No one becomes really wealthy by investing savings off their modest salary.
- UK-Al05 1y agoI mean you can literally do that. And get wealthly. It'll just be a meagre existence up and until retirement.
- triceratops 1y agoYou can, however, get wealthy by investing savings off a good salary.