Truth 15. Tax deferral
"Never put off till tomorrow what you can do the day after tomorrow."
—Mark Twain
Mark Twain's advice is something that many of us procrastinators take to heart. Although often it may not be in your best interest to delay things, one thing that generally works in your favor is to delay or defer having to pay income taxes.
By not paying taxes on the earnings of any investment, what you achieve is having more money available to grow and compound. In effect, in addition to the principal that you invested originally, your earnings get added to that principal to be the basis of your future growth without any dilution. The longer you are able to have your money compound and grow without being reduced by the payment of income ...
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