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A lot of the ways theybuild wealthcould completely sink a low-income person into debt.
Wealthy individuals use sophisticated leverage strategies that would be catastrophically risky for those without substantial financial cushions.
Here are somewealth-building strategies the rich use that would sink the poor into debt.
Credit Card Rewards Optimization
Credit card rewards optimization is another strategy that dramatically differs by economic status.
They pay balances in full, effectively converting everyday expenses into travel rewards or cash back.
Shahnazari believes this approach requires a robust investment portfolio and consistent income resources typically unavailable to those struggling financially.
Andrew Gosselin, CPA and senior contributor atCoupon Mister, agreed.
Taxes may seem like a dull topic, but for the wealthy, tax planning is a secret weapon.
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