People are so concerned about taxes, that Forbes writer William Baldwin has penned a few articles on the subject. One of his latest is titled, “Eighteen Ways to Get Tax-Free Income.”
Let me save you the trouble – here are his 18 ideas in bullet point fashion – more than they deserve:
- Remodel the House
- Moonlight
- Get Reimbursed
- Earn Airline Miles
- Hustle Rebates
- Be Nice to Uncle Joe
- Pay off Credit Cards
- Rent your House Out
- House Sit
- Be a good Neighbor
- Have a Charity Tag Sale
- Own a House
- Take up Plumbing
- Set up an HAS
- Hire the Kids
- Get paid in Lodging
- Get a “cash-back” card
- Take the Bus
Hey – what about selling your blood plasma or your empty aluminum pop cans?
Besides being just plain stupid – most of these cost money and are things most people would never do to earn a few tax-free nickels.
What’s worse – missing from the list is the number one thing that everybody can do to build an unlimited lifetime stream of tax-free income – invest in cash-value life insurance.
I know what you’re thinking – but it’s not expensive – it’s not boring – it doesn’t have dismal returns – and despite what Dave Ramsey says – it may well be the best wealth-building vehicle on the planet right now for everyday folks like us.
Every other saving or investing strategy imposes both taxes – and risk on the investor. Cash value life insurance eliminates both. And unlike any other investment, life insurance provides a death benefit, and most policies provide a bucket of money for long-term care needs.
Got you curious? Get hooked up with a good insurance agent and rediscover life insurance as you’ve never known it.
