Building Your Wealth Cycles: Acceleration of Your Wealth Cycles
Once your foundation is solid, you can leverage your assets to generate more wealth and more passive income. There are two major components to accelerating your wealth cycles:
• Creating the structures for wealth acceleration
• Leading your wealth team
Creating the structures for wealth acceleration
These structures consist of your investment strategies and entity structuring that produces significant tax benefits. While there are many investment strategies, here are a few options: cash and cash equivalents, bonds, stocks, real estate, international securities, precious metals, natural resources, commodities and collectables.
What you invest in and how you invest are determined by the level of risk you are comfortable with and your need for liquid cash. Some investments, such as rental property can produce a monthly passive income, while others build equity for a future payout.
Financial, tax, and legal protection of your business is accomplished through entity structuring. The goal of proper asset protection is to minimize your risk and to grow and sustain your asset base. The main types of entities your business can have include:
• C-Corporation
• Limited Partnership
• Limited Liability Company (LLC)
• Trusts
Work with a tax strategist or CPA to maximize your tax deductions while limiting your personal liability.
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