Shane Black Daily Blog

You get wealthy by planning for it

Everybody wants long-term wealth, but few plan for it correctly.

The time to plan for it isn’t once you have it.

The best time to plan for it is before you get it.

Why?

Because how you structure your wealth plays a big role in your future wealth management and asset protection.

It can become a costly exercise when you try to start structuring your wealth once you already have assets or cash in the bank and want to transfer it into trusts or other business structures.

In some cases, if you’ve already purchased assets it can be hard or not even possible to then transfer them into a trust or structure for long-term benefits.

You don’t have to spend money on accountants and lawyers straight away, that’s better for once you’re ready to start putting things in place. You can, however, educate yourself and better understand what your options are and get an idea of how you would like things structured.

Putting the time in beforehand to plan for wealth means you can reap the benefits of your wealth long-term without paying unnecessary fees, stamp duty, taxes, and other financial fees.

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This is my personal blog, where I share the books I’m reading, what I’m learning, and the challenges I’m setting myself. I hope you find some value here.

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