How the Elite HIDE THEIR MONEY & pass down Generational Wealth
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In this video, Caleb Guilliams from Better Wealth exposes how the wealthy elite create generational wealth and how they pass down their wealth to ensure the family wealth keeps growing generation after generation unfeathered by taxes, the government, etc. This is done through a series of complicated family trusts, life insurance policies (what Caleb calls The And Asset), private family foundations, family offices, etc.
Caleb Guilliams from Better Wealth has dedicated his life to learning how the ultra wealthy do things, and bringing down that knowledge down to everyday people like us.
For the ultra wealthy, life insurance is this insanely powerful tool that they keep under wraps
"Your money safe, it will grow the rest of your life. It will grow tax deferred, you can use your money tax free, it will get passed on tax free. It has a lot of other benefits. And so what the wealthy use it is, they don't use it as a, an investment, they use it as like a safe asset. I call it The And Asset because they're able to get their dollars more than one job. And so they're able to do that while it's protected, while, while it's off the radar screen of, of the IRS because it's not considered income. And that's, that's how a lot of wealthy people use it. And then step number three is usually what they, to, to take the money or to utilize the money."
"You're not withdrawing your money. What a, what a lot of people do cuz that would be in a lot of cases taxable upon gain. They're borrowing against it or using a third party bank to borrow against their assets. And as a result, if you borrow against it, it's not considered income. So a lot of wealthy people like Elon Musk and all these people, they're, they're borrowing against the equity in their businesses insurance. And when you max fund insurance, that's why a bunch of banks do this. Over 3000 banks today have what's called bank own life insurance."
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