- The average person pays 34% of lifetime earnings in interest. That interest goes to cars, credit cards, college, mortgages, all things being financed.
- An estimated $0.40 of every dollar earned in the U.S. goes to pay taxes. Including, but not limited to, federal income tax, state income tax, city taxes, and sales tax.
- Lifestyle expenses like food, gas, utilities, clothes, insurance, and travel account for about 23% of earnings.
- After the expenses listed above, that only leaves 3% on average for savings.
Most financial advisors concentrate on the 3% of savings.
We work with clients to focus on solutions to reduce the 34% going to interest and 40% going to taxes. Learning how to use infinite banking to pay yourself interest and reduce the tax impact is life changing!
