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In essence, you avoid liquidating your investments (which triggers taxes), instead leveraging your holdings to keep generating wealth and income. On passing, your heirs inherit these assets with significant tax advantages.
Mike’s Personal Journey and Early Lessons
Starting at age 25 with minimal savings, Mike initially believed that saving alone was the best path forward. After reading Rich Dad Poor Dad, his perspective shifted to understanding assets versus liabilities. An asset puts money into your pocket (like rental properties, stocks, Bitcoin), whereas liabilities drain it (like cars and consumer debt).
By 29, he had accumulated a net worth of about $150,000 through stock investments and real estate—slow growth, but foundational knowledge laid the groundwork.