Azul shares a strategy to build up $1M (in today’s dollars). Interested. Watch today’s video to learn more.
=== Azul’s “Scammer” Warning & Disclaimers. PLEASE READ!! ===
Be careful of scammers. In the comments, I will NEVER suggest you contact me, offer any investment products, recommend an adviser or anything similar. Some scammers ask for investment help in the comments and later, other commenters post how “great that idea/investment/person is” in the replies. This is a scam. Do not fall for it.
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This information is provided to you as a resource for informational purposes only and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the decision that is right for you and your family.
This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor may NOT be suitable for all investors.
This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
I don’t believe in “get rich” programs. Rather, I believe in doing your homework and working with professionals who are a fiduciary to you 100% of the time….(read more)
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Are you dreaming of a life where you never have to worry about finances again and can enjoy all the luxuries money can buy? What if I told you there is a way to win $1 million completely tax-free?
Yes, you read that right. Imagine having access to a million dollars that you can use without having to pay taxes on it. It sounds too good to be true, right? But let me assure you, it is very much possible and it is not a scam.
The secret to winning $1 million tax-free is to participate in a promotional sweepstake. A sweepstake is a type of contest where a prize is awarded to a winner chosen by chance. In a promotional sweepstake, a company or brand sets up a contest to promote their products or services. And the prize is usually a large sum of money, a luxury car or a vacation package.
Participating in a promotional sweepstake doesn’t require any special skills or knowledge. All you have to do is enter the contest by following the instructions given by the company or brand. Usually, you have to sign up for their mailing list, follow them on social media or complete a survey.
Once you have entered the sweepstake, you have a chance to win the grand prize of $1 million tax-free. And even if you don’t win the grand prize, there are often other prizes that you can win. So, it is a win-win situation.
One thing to keep in mind is that promotional sweepstakes are not scams. They are legitimate contests set up by trusted companies and brands. However, there are scammers out there who try to trick people into participating in fake sweepstakes. So, be cautious and make sure you only enter sweepstakes from reputable companies or brands.
In conclusion, winning $1 million tax-free is not a far-fetched dream. It is possible through participating in a promotional sweepstake. So, keep an eye out for sweepstakes organized by reputable companies and brands, enter them and who knows, you may be the lucky winner of $1 million tax-free.
A million dollars 10, 20, 30 years later is still more than not saving.
There was a time when municipal bonds were free from federal and state taxes and they were paying a tad over 5%, but rates dropped and some states eliminated the tax free aspect, so municipal bonds fell out of favor. I regularly bought 5% bonds (general obligation, at least AA) for 15 years and I accumulated a million dollars. Some friends said I missed out on better returns with stocks, but I never had to care about market volatility and now I've still got a pile of cash that I can draw from tax free. The stock portion of my portfolio is a pain in the ass because you don't always know what your tax burden will be at the end of the year and like others here, I wish I had done a Roth earlier, but at the time I needed that tax break that the other IRAs provide.
Why is all this stuff so complicated and why does it have to be a "secret" ? I have to find someone to help me navigate this convoluted game. I feel so overwhelmed and also upset frankly that I never educated myself about these matters. I have probably missed out on the ability to retire at a reasonably early age.
I wonder … if you pay taxes up front you lose that money to invest and grow over time. There must a calculator that shows you the trade off.
I wish I had opened a Roth sooner. I only opened this year at 49. I have substantial 401K balance and also a rollover IRA but really should have been more proactive about Roth. I'm going to try to max out contributions to Roth from now until retirement. I'll probably end up doing some conversions in early retirement.
Traditional IRA's and SEP IRA's do have that draw back of being taxed at full income rate but over the years they not only compound much faster than if you paid the tax then saved the money, they give you the wiggle room for someone whose income fluctuates that you wouldn't have without them. In addition, you do have the flexibility to convert them to ROTH IRA's when your income is lower, saving some of what you would otherwise owe. I hope that the government keeps their hands off them when they hear stories like people having $billions in ROTH IRA's! God forbid anyone makes out well during their working careers!
Making money is an action. Keeping money is behavior. Growing money is knowledge…
Loving your quote, "today's dollar versus tomorrow's dollars" so true.
Hey Azul, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you?
Can I email you?
There are a lot of advantages in having a self-directed IRA.
Roth n Roth 401k!!