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These involve such things as million-dollar write-offs and investing profits from one business or real estate venture into another.
These tips may be good for the ultra wealthy, but theyre not much help to the average American.
Most of his recommendations conveniently steer people toward services and investments he directly profits from.
If it sounds new and sensational, youre probably getting sold something, Naghibi said.
Naghibi warned that without proper resources or experience, the likelihood of financial missteps is high.
It Poses Ethical Questions
Theres also an ethical side to Cardones advice, Naghibi pointed out.
Taxes fund the public infrastructure and services that enablebusinesses and individualsto thrive.
Not to mention that Cardones narrative that the rich dont pay taxes is misleading, Naghbib said.
Hes asking people without substantial wealth to mimic strategies designed for those with far more resources and financial literacy.
His strategies work for him because of his unique resources, connections and risk tolerance.
For most people, however, sustainable financial success comes frombalanced, time-tested strategies.
Instead, focus on creating a plan that aligns with your goals, values and personal circumstances.
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