Chapter
Paying Taxes as a Millionaire
12:23 - 18:35 (06:12)
The speaker discusses how paying taxes as a millionaire was a challenging task, as they had to write large checks every couple of months, and the stock market was not much of a cushion. However, they also believe that moving somewhere just for tax reasons is ridiculous if you can afford to live where you want to live.
Clips
The speaker discusses the drawbacks of paying high taxes and the potential benefits of moving to a state with lower taxes, specifically mentioning the avoidance of capital gains taxes as a means of building wealth.
12:23 - 14:40 (02:16)
Summary
The speaker discusses the drawbacks of paying high taxes and the potential benefits of moving to a state with lower taxes, specifically mentioning the avoidance of capital gains taxes as a means of building wealth.
ChapterPaying Taxes as a Millionaire
EpisodeJohn Lee Dumas On How He Saved $1,000,000 In Taxes By Moving To Puerto Rico, How He Makes His Money, and More
PodcastMy First Million
The speaker initially invested conservatively with a low-percent return, but then realized that the cost of living in La Jolla would require $7-12 million.
14:43 - 17:28 (02:45)
Summary
The speaker initially invested conservatively with a low-percent return, but then realized that the cost of living in La Jolla would require $7-12 million. Philanthropic donations to various causes are also highlighted.
ChapterPaying Taxes as a Millionaire
EpisodeJohn Lee Dumas On How He Saved $1,000,000 In Taxes By Moving To Puerto Rico, How He Makes His Money, and More
PodcastMy First Million
Financial success and a sense of adventure are the primary factors in people's decisions to move to a new city.
17:29 - 18:35 (01:06)
Summary
Financial success and a sense of adventure are the primary factors in people's decisions to move to a new city.