Why the rich own NOTHING (and you should too) - YouTube

- In der Finanzwelt gibt es ein berühmtes Sprichwort , das besagt:

"Nichts besitzen, alles kontrollieren."

In diesem Video werde ich darüber sprechen, was das bedeutet.

Warum erfolgreiche Menschen ihr Bestes geben, um nichts zu besitzen

und wie dies auf Ihr eigenes Leben zutreffen kann.

(flotte Musik)

Bevor ich in diesem Video anfange,

danke schon mal fürs liken,

kommentieren und abonnieren.

Es hilft uns immens dabei, die Botschaft der Finanzen zu verstehen

und Freiheit in die Welt hinaus.

Außerdem haben wir einen tollen Newsletter

das kommt mit zusätzlichen Leckerbissen und Informationen

über Finanzen, Freiheit, globale Strukturen usw.

kann es sehr empfehlen.

Link in Bio.

Im Video von letzter Woche

Ich habe erklärt, warum Sie niemals Geschäfte als Sie selbst machen sollten.

Der springende Punkt in diesem Video war die Erklärung, dass Sie es versuchen sollten

ein Unternehmen oder eine juristische Person als rechtliche Front haben

von welchem ​​Geschäft Sie auch immer machen.

Ich ging durch Vernunft nach Nutzen nach Nutzen,

nach dem Nutzen, nach dem Nutzen

warum willst du dich trennen

von jedem Geschäft, das du machst

und haben eine andere rechtliche Front,

wie ein Unternehmen, Trust, Unternehmen,

wie auch immer es in Ihrem Land heißen mag .

Es ist etwas anderes genannt in verschiedenen Ländern.

Das musst du natürlich selbst prüfen,

aber sie sind in allen verschiedenen Ländern erhältlich

auf der ganzen Welt.

Der zweite Teil der Gleichung

ist, wenn es darum geht, Dinge zu besitzen,

und das ist der springende Punkt dieses Videos.

Und wie gesagt,

Es gibt eine Art berühmtes Zitat in der Finanzwelt

das sagt: "Besitze nichts, kontrolliere alles",

die John D Rockefeller zugeschrieben wurde,

einer der reichsten Männer , die je gelebt haben.

Manchmal schrieben sie auch seinem Enkel zu,

Nelson Rockefeller.

Es spielt keine Rolle, wer es gesagt hat,

vielleicht haben es beide gesagt,

aber es ist die Phrase , auf die wir uns konzentrieren wollen.

Sie werden überrascht sein, dass viele reiche Leute,

Sie besitzen nicht wirklich viel Zeug,

aber sie kontrollieren es absolut.

Ich rede nicht von falschen reichen Leuten,

nur so tun, als hätten sie viel Geld

indem Sie einen Ferrari leasen.

I'm talking about these things being owned by an entity

that they control, trust, enterprise,

company, et cetera, et cetera.

Essentially, an entity is just a framework

that you can do business under,

that you can make money through

and those entities can own things.

So you own the entity or you control it,

but legally, it is two separate structures.

You and then the entity

and running things this way is extremely beneficial

in many ways.

Things like lowering tax legally, protection from laws,

legal action and so on.

So essentially, an entity is just putting you at arms length

to any of the nasty, negative,

adult stuff that we have to deal with.

Like you get to keep all the benefits, which is awesome.

And that absolutely applies to the entity owning stuff.

Instead of you personally,

one of the first reasons for example

is lowering tax legally.

So this is how it works.

Let me break it down for you.

So you have a company and you also have a camera

because you love taking photos for personal use or a hobby,

but sometimes this camera also takes images

for your business, for example, for social media use.

If you have this camera and you own it personally,

this camera is not helping you to reduce your tax legally.

But if the company uses this,

it will help you lower your tax legally.

Say your company makes $100,000 a year in profit.

Generally speaking,

the company will pay tax on $100,000,

but let's say that the company buys the camera

from you for $5,000,

this is then lowering the profit of the company to $95,000.

And then the company is taxed on $95,000

instead of $100,000.

When you own a company,

you're looking for a myriad of ways

of reducing your taxable income through deductions.

So say those computers has cameras property,

office equipment, so on.

So yes, you're probably gonna be using these things

personally as well,

but if you can show a direct correlation

of how that product

is helping you to make money in business,

it is illegal deduction.

The extent of this is pretty surprising at times.

Take me for example, I am on camera.

So my hair cut is important.

Not that it looks the best right now, bad hair day.

My haircuts are tax deductible.

My clothing, my makeup,

my workout equipment is tax deductible

because I have to look my best on camera.

I can show directly that these things

that help me to look better on camera,

therefore, it can translate into sales and so forth.

It is vital for my company operation

for me to look my absolute best in front of the camera.

So I guess shopping sprees, darling.

I wouldn't go overboard with this

if you cannot show legally that there is a direct link.

You have to double check with your financial advisor.

This is not financial advice.

This is just education as always.

So you have to double check this

because I don't know your country's laws.

I don't know exactly how it functions.

Maybe that's not part of the tax deduction in your country.

I'm not sure.

As an employee,

there are also some deductions that you can make

when it comes to the clothing that you wear, for example,

going to work, however, it's a lot more limited.

There's not a lot of room for wiggle room.

Some countries, you are able to deduct meals,

transportation, of course, gym memberships, meetings,

which could, how are you gonna classify meetings?

You go out for drinks with someone

that is related to your business,

say like, that was a business meeting,

tax deduction, things that absolutely,

if you were paying it by yourself,

you would not be able to get the tax deduction for it.

Let's go into another type of structure and an entity

and the benefits of this one.

And this one is called a trust, trust.

Trust are very interesting for a lot of reasons.

Of course, it varies from country to country.

But speaking from my home country, Australia,

when it comes to owning a trust,

it means that it can legally own stuff,

but it is tax exempt in many different instances.

In Australia,

it's very beneficial to own assets underneath a trust.

And also, the trust can be making money just like a company.

There is no tax that is paid on any of the trust earnings

or any of the assets until there is money paid out

to the beneficiaries of the trust.

So let's say that you buy a property underneath the trust

for roughly $500,000 AUD,

in 10 years, the property is now worth $750,000.

You sell it.

It's $250,000 profit.

If that money stays in the trust

and it doesn't leave for any reasons,

there was no tax paid on that money.

Say I'm a beneficiary of this trust,

if that trust then pays me out, some of that cash,

I will be then paying tax on that income.

That is a very simplified example.

But if you just keep the money within the trust

and keep rotating it, buying extra assets,

generate the profit, say forever,

you will not pay tax on this.

Then there's obviously the extra layer of protection

in case someone wants to take legal action.

For example, it gives me, as I said before,

maybe because they don't like my mouth

and they wanna sue me for it.

The trust is separated from me.

So there is nothing that they can do about the assets

owned within that trust, generally speaking,

but there are a different range of trust

that you can set up.

So again, financial advice,

figuring out what is the best trust for you.

So yeah, this is an incredible example

as to why the rich people don't own anything.

And maybe this is beneficial for you too.

When I first heard about trust, honestly, I was like,

"Wow, imagine being so rich

that you're able to have a trust."

And I found out it's actually doable for everybody.

Sometimes a trust can cost around $150

depending on what kind of trust you set up.

The main thing I always ask myself is,

is it beneficial for the company to own this thing?

Is it better for me to own it personally or for the company?

As always, there is a flip side.

So let me explain the reasons why it might be beneficial

for the companies to not own absolutely everything of yours.

There are countries around the world

that you need a higher credit score

in order to get a mortgage or even better,

get a mortgage with a low interest rate, which is perfect.

Generally speaking, the better your credit rating,

the better terms you can negotiate with the banks

because they look at you as a great prospect customer

that will be paying back all their loans on time.

You're not categorized as a high risk client.

Now, if you don't own anything,

it might be hard for you to prove that you are someone

that is really good with your finances.

Now that is if you wanna have the house

in your personal name,

you need to have personal proof that you are very good

at managing money.

Of course, companies can own assets

so they can own the house,

but it is the same sort of a system

that has to be a really good credit rating

for the company as well in order to make the purchase.

So this is a business asset that I have.

If I wasn't able to prove that this home

is being primarily used for business purposes and it is,

I use every aspect of this home for filming purposes,

as well as endless meetings with people,

then I would not be able to deduct any of the expenses

associated with running this house.

We're talking about meals, electricity, water,

interior design.

As I mentioned, I now control five properties.

This one is owned by the company.

The rest are not owned by a company

because it's just not beneficial to do so for me.

Different investments have different purposes

and also according to your country.

The second reason why you might not want to have everything

owned by a company is if you want to relocate

to a different country and become a citizen

of a different country.

Now this channel, as I mentioned, freedom and finance.

So we're gonna be talking about global structures

and being able to call the world your home,

be a digital nomad, live freely.

I am a huge advocate of having multiple citizenships

because A, your country might not be exactly what you want.

You don't agree with a lot of their policies

so you wanna bounce,

or it's always just good to have a backup plan

for in case things go haywire in your own country

and you wanna (whistles)

However, if you own nothing,

the new country of the residents

might not be very happy about that.

Most countries when taking new people in as citizens

and residents,

they don't really want someone

that can't even support themselves.

They want evidence,

a lot of evidence to prove that you are someone

that manages their money really well.

You have savings that you have regular streams of income

coming in.

That you have cash, that you have assets

because of how these entities, trust,

companies, enterprises are set up,

they're illegally two very different things.

So the new country of residence that you wanna move to,

they don't care to see your assets in a different name

because it's not related to you.

It is two separate entities.

They wanna see all of these assets

and the income in your name.

So if your future plan is to move abroad,

get a second citizenship or second residence,

you do wanna have some things in your personal name.

So you definitely wanna split those

and ensure that you are having a record proof,

that you are really, really great with your finances

and with your assets.

The next downside of having your companies own everything,

it's more of a warning than anything else.

It becomes quite complex.

At a certain level of success,

it might sound fun to have trusts, companies,

entities all over the world,

offshore and in your own country,

sounds fancy, right?

But it does get quite complex quite fast.

With every single entity,

there are different tax declarations.

You have to be aware of tax returns, accounting,

banking and so on.

Obviously, tax returns are a yearly thing.

So it's recurring.

It feels like you never have a moment breathing

because there's another entity

that needs taken care of at that point in time.

So sometimes it is better to practice financial minimalism.

Yes, there are so many savings and benefits

from having these structures.

But the number one most beautiful resource

that we ever have in our life is time.

So if it's taking up too much time causing too much stress,

it just might not be worth it.

Finally, I need to touch on this.

It's very important that you listen attentively.

In some countries,

it might not be a good reason for your company

to own a lot of things,

especially if you're not gonna be doing this legally.

Now, I am all about lowering your tax legally.

This is completely fine.

It is open to everyone, it's available to everyone.

But if you're trying to be smart about it

and trying to find shortcuts anywhere,

I can guarantee you that they're watching.

If you have an inkling to start a business

or a company or an entity, a trust or whatever,

and you know that you're legally not allowed

to deduct certain things and it's all for your personal use.

Say you have like a fancy car

that's just like, woo.

This is awesome.

And actually, it's just for me.

And it's not at all related to your company,

that's highly illegal.

You do not wanna be doing this.

It is going to come and bite you in the ass eventually.

Sometimes it might take five years, one year, two, 10, 20,

but they are gonna come after you.

And you don't wanna risk that.

This is why I rely so heavily on the tax accountants

that I engage with.

These people know exactly what I can and cannot deduct.

They don't mess around with this stuff at all,

because no, I don't want it.

When I started this journey

of learning about these structures,

one, it was so overwhelming

and I needed to get all the help that I could.

So we spent so much money on tax lawyers around the world.

Every country that we have an entity,

we engaged in specialized tax accountants, tax lawyers.

We went through the whole thing to ensure

that we're doing everything properly.

We double check things all the time.

Like when we hear a certain thing,

we're like, "That sounds pretty crazy for sure."

And then we just ask questions, ask questions.

It is a big cost because I can tell you that accountants

and tax lawyers, they're not cheap,

but in the end it saves me a lot of cash.

And there's so many beautiful benefits to owning structures

around the world.

So anyway, this was a breakdown

of why rich people don't own anything

and they control everything.

So I hope this was beneficial.

I hope this was insightful.

If it was, I am again,

very thankful for you liking, commenting and subscribing.

We look forward to having you

part of the Abundantia community,

which is growing really fast.

So thank you for being here with us.

This is just the beginning of the journey

and we're loving it so much.

And it seems that you guys are getting a lot of benefit

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