Part 8/12:
The speaker recalls a viral video from 2016 warning that keeping money in a bank at just 2-3% interest makes you "guaranteed to go broke," and today, inflation rates of 8-12% further exacerbate this issue. Money in savings is effectively losing value daily, making it a poor wealth-building strategy.
Additionally, government policies and tax structures favor the rich. The wealthy utilize legal tax strategies—such as income deferral, deductions, and financing strategies—to minimize tax liability. For example, Elon Musk borrows against stock options, which is not taxable income, allowing him to live freely without selling assets.