THE DOWNLOAD MONEY MATTERS
can borrow against it using a margin loan. And voilà! You’ve now started the first steps in the cycle of buying and borrowing to build wealth and avoid paying taxes! It is important
to understand that borrowing is tax- free, and working hard is highly taxed. Another
important thing to understand is that a margin loan is likely very different than any loan you’ve ever taken in the past: There is no application. There is no credit check. It does not report to your credit
report. And there are no required
payments on the loan. I know, once again, it sounds too
good to be true. I first discovered the “Buy, Borrow, Die” strategy while building my “Perfect Portfolio” course. At that time, we were comparing
brokers to invest, including Robinhood, Interactive Brokers, Fidelity, Schwab, and several others, as well as a newer broker called M1 Finance. M1 stood out as an outlier since it had a feature I’d never seen before: It had a borrow button! Interest rates were at record lows,
and at the time M1 was offering margin loans at just 2%. Borrowing at 2% was the closest thing I’d ever seen to “free money,” especially when purchasing a covered call ETF with a 12% dividend. Purchasing those ETFs with
margin loans meant it didn’t require any work to earn it, and more importantly, the loan was 100% tax-free. Do the math — earning a 12% dividend and then borrowing at 2% to then reinvest and earn a 12% dividend seemed fascinating.
My first thought
was, “I’m already borrowing to avoid taxes.” I felt certain
that we were on the right path. I then began pondering how we could use low-interest margin loans to buy real estate and other assets. Then Forbes published the article “How Ordinary Americans Can Also Buy, Borrow
and Die Without Paying Taxes.” I knew right then that I had
finally found the holy grail for legally avoiding taxes. That article mentioned that
Amazon’s founder, billionaire Jeff Bezos, had used the strategy to pay no taxes from 2016 to 2018. No surprise there. But then it asked: “So, how can
you do it?” It then mentioned that “M1 Finance offers M1 Borrow, which allows you to tap into your investments at as little as 2%.” The secret is simple: Borrow only
to acquire assets, never liabilities. Every investment is designed to generate income that can be collected at any stage of life, no matter what our students’ age or where they started.
Excerpted from Be Smart Pay Zero Taxes: Use the Buy, Borrow, Die Strategy to Get Rich and Stay Rich by Mark J. Quann. (Humanix)
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RETIREMENT BONUS If you’re between ages 60 and 63, you
can take advantage of a new tax law that allows you to set aside more money in your 401(k) this year than ever before. It’s long been a law that people over
age 50 can make additional catch-up contributions to their 401(k)s and other qualified retirement plans. But now, people between ages 60 and 63 can set aside an additional $11,250 as a catch-up contribution to their qualified retirement plan instead of $7,500 for everyone else over 50. That’s on top of the 2025 $23,500 401(k) contribution limit. The change is especially good news for older workers who need to get a leg up on their retirement savings.
STREAMING DEALS Want to save money on your
entertainment subscriptions? Consider looking beyond your streaming providers for deals. Companies like T-Mobile, Verizon, and even DoorDash are joining forces with streaming providers to save you money. T-Mobile offers customers streaming deals with Hulu, Netflix, and Apple TV+ with qualifying Go5G Next lines. T-Mobile customers also have access to MLBTV service subscriptions. Verizon’s 5G Play More and 5G Get More plans include a Disney bundle, which offers Disney+, Hulu, and ESPN+ and saves you $21.99 per month more than if you subscribed to these services separately. And food delivery service DoorDash now offers Max bundled with its subscription. If you have a DashPass annual plan, you’re eligible for a Max subscription free.
CHECK ON FEES If you’ve ever accidentally bounced
a check, you’re aware that banks have charged upward of $30 for the financial faux pas in the past. In 2019 alone, customer overdraft and nonsuficient fund fees earned banks $12 billion, leading regulators to call the fees predatory. But recently, the Consumer Financial Protection Bureau (CFPB) finalized a rule limiting the amount banks can charge their customers for bounced checks to $5. Regulators say the $5 cap will save consumers $5 billion (about $225 per household) annually. Of course, banks oppose the cap, and the move could be repealed by the Trump administration.
MARCH 2025 | NEWSMAX MAXLIFE 73
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