Lesson Four:The History of and The Power of Corporation
How the Rich Play the Game
No. 1 is accounting. What I call financial literacy. A vital skill if you want to build an empire. The more money you are responsible for, the more accuracy is required, or the house comes tumbling down. This is the left brain side, or the details. Financial literacy is the ability to read and understand financial statements. This ability allows you to identify the strengths and weaknesses of any business.
No. 2 is investing. What I call the science of money making money. This involves strategies and formulas. This is the right brain side, or the creative side.
No. 4 is the law. For instance, utilizing a corporation wrapped around the technical skills of accounting, investing and markets can aid explosive growth. An individual with the knowledge of the tax advantages and protection provided by a corporation can get rich so much faster than someone who is an employee or a small-business sole proprietor. It's like the difference between someone walking and someone flying. The difference is profound when it comes to long-term wealth.
In summary
As part of your overall financial strategy, we strongly recommend owning your own corporation wrapped around your assets.