What’s More Important? Building Wealth or Minimizing Tax?

wealth management

A famous saying goes… a fool and his money are soon parted. Robert T. Kiyosaki in Rich Dad, Poor Dad states “Intelligence solves problems and produces money. Money without financial intelligence is money soon gone”.

Everyone aims at building wealth because money talks. Money can buy happiness like education in a dream university, owning a villa, an expensive car, vacation at dream destinations, a secure retirement, etc. All of us run behind our dreams, slaving all day for money forgetting that a penny saved is a penny earned. Most of us are concerned about making more money but give the least importance to where it is actually going. As a result, most of us end up paying most of the money in the form of taxes like income tax, capital gains tax, estate tax, insurance tax etc.

The first step to stay wealthy is to minimize the tax pressure on your hard earned money. This calls for a safe and sound financial planning and it is exactly here that a financial planner or a registered tax agent becomes necessary. An accountant focuses on tax without taking into consideration wealth optimization. Whereas a tax planning service will ensure wealth management optimization by providing tax planning services. For example, if you invest in an estate and hold it for a very long time, you will have considerable capital gains. However, you will also be liable to pay a huge amount as tax. However, the tax could be minimized if you could share this gain equally across four taxpayers.

It is essential to just not earn money but find out ways and means to maximize your after-tax wealth. To achieve this you need to follow a wealth strategy that is not only tax-effective but also allows you to maximize your wealth. Our Wealth Management Services will help you to build wealth through our tax planning expert services. They will create an investment portfolio based on your income sources, your comfort level of risk, guide you on right insurance coverage, estate planning etc.

As Robert T. Kiyosaki rightly said “Today, wealth is in information. And the person who has timely information owns the wealth”. Thus minimizing tax is the first step to building wealth. Becoming wealthy is possible only through strategic planning and expert financial advice. Finally, minimizing tax will automatically maximize your wealth and help you to live a satisfied life.