Just Because Your Not Born With A Silver Spoon In Your Mouth Doesn't Mean You Can't Get One.

5 Fundamental Pillars of Wealth-Building

1. Real Estate

Obviously, real state is the cornerstone for passive income and wealth building. Between the tax advantages and write-offs, as well as depreciation and appreciation, it has some investing characteristics that are second to none.

2. Insurance Contracts

Now, insurance contracts are often overlooked, but they’re a valuable tool when trying to build and protect your wealth.

Although there are many different types of insurance, as well as varying strategies, EIUL (Equity Indexed Universal Life). It can never lose money since it has guaranteed yield regardless of the market, and it throws off tax-free retirement income, as you are able to access the cash value through loans. Keep in mind, these are long-term investment vehicles, but they are very safe and predictable.

3. Notes

This is really a simple idea, too. If you can invest in something like notes purchased at a discount with a high yield that’s backed by collateral, such as real estate, it’s pretty hard to beat that investment vehicle. With notes, your money can start to work as hard as or harder than you do.

4. IRA Accounts

Self-directed IRA types of accounts are a big part of a strategy to increase tax-free passive income in retirement.
Get as much and as many types of these accounts as possible. Tax-free is usually best, and tax-deferred is probably next in comparison.

There’s nothing like the high yield of getting cashed out early payoff of a note in your Roth IRA all gains would be tax free.

5. Business Equity

Business equity can be a fifth pillar for some, but for business owners, it may not always be all that passive.

The real goal here is to have a salable business that doesn’t revolve around you by retirement age, so that it can either throw off passive income or cash you out in retirement.
#WealthIsAMindset #FinancialFanatic #ShynnaKey
http://www.shynnakey.com

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