If you are a wealthy man or woman or an entrepreneur who intend to build great wealth, one of the strategy you can adopt that will guarantee that you keep your wealth intact or to ensure that your effort of building great wealth is to devise a means to legally protect your money from the government.
Governments all over the world need money to survive and they ensure that they apply different strategies to extract money from their citizens and in most cases it is via different forms of tax et al. The truth is that nobody will be happy to allow the government to continue to collect money from them under different guise that is the reason why people will go all length to ensure that they protect their money from the government.
Protecting your money from the government might not be easy especially when you live in a country that is heavily policed but if you know the right approach to take, them your money will be well shielded from the government.
Now let us consider some of the tips that will help you protect your money from the government;
7 Smart Ways to Protect Your Money from the Government
1. Invest in Real Estate
One of the ways to protect your money from the government is to invest in real estate. When you invest in real estate, you will still have to pay some form of tax to the government, but the money you will get from the investment will make the money you are paying inform of tax to the government almost negligible. In investing in real estate, you can diversify your investments; try as much as possible to invest in other countries. One good thing about investing in real estate outside your country is that the government won’t know the true value of your investment and as such they won’t be able to slam unnecessary tax on you.
2. Invest in Commodities Market
Another way you can protect your money from the government is to invest in the commodities market. When you invest in the commodities market it means that you have paid for commodities to be collected on a future date whether in cash with interest of the commodities you paid for. With that it means that you money is stored somewhere and it will be difficult for the government to charge you tax over what you have not earned.
3. Start a Charity Organization
One of the surest ways you can protect your money from the government is to start a charity organization; a Not for Profit Organization (NGO). Of course running a charity organization means that you are expected to finance the organization from your purse or from grants. But the truth is that if your charity organization is addressing a major challenge in the society you likely going to get more grants that will ensure that your money is intact. Governments all over the world do not tax Charity organizations rather when people give to charity organizations; they get tax cut in return.
4. Invest in Stocks
Another strategy that you need to adopt to be able to protect your money from the government is to invest in the stock exchange. When you invest in the stock exchange, it means that you would have succeeded in reducing the liquid cash in your hands or your bank accounts. When you invest in the stock market you will not only protect your money from the government but you will also make more money and increase your financial worth. Although you will be required to VAT and other tax, but the merits far outweighs the demerits.
Over the years, people who have the intention of protecting their money from the government invest it in gold and silver. Investing in gold and silver is one of the surest ways to keep your money intact with the interference of the government. Investing in gold and silver has never been considered as a very risky venture that can wipe off ones wealth; even if the prices of gold and silver falls, it will surely rise again and it has been so for only God knows when. So if you want to effectively protect your money from the government, then you need to invest in gold and silver.
6. Pay Your Tax as at When Due
Paying of tax is one of the responsibilities we can’t run away from as long as we want to remain a law abiding citizen of our beloved country or the country where we reside. Different countries have different punishments for those who evade tax. In most countries, you would have to remit the tax with interest and still go ahead to serve a jail term. So if you want to protect your money from the government, you must ensure that you pay your tax as at when due so that you won’t pay more than required when you are caught evading tax. Just ensure that your tax record is clean and you will be fine with the government; they won’t come after your wealth.
7. Minimize the Amount in your Savings Account
Another means of protecting your money from the government is to minimize the amount in your savings account per time. Running a savings account might add little interest on your money, but when there is inflation the interests and some part of your savings can be wipe out. That is why saving your money in the bank is not considered to be one of the best approach to take when you want to protect your money from the bank.
Over and above, it is a difficult task to totally protect your money from the government, but with the above stated tips, you can reduce government interference on your money.