Turn on any news channel or open any national magazine or internet news outlet, and you’ll something about the fiscal cliff in the headlines.
A large focus of the content is the impact on the rich and the increased tax burden they will be faced with in the new year. With the growing United States debt situation, there ought to be little mystery that a growing burden with fall on the inappropriately demonized, so called, “rich.”
Whatever the dilemma is that will be raised for the wealthy in this country, there is a bigger dilemma. Read the latest here.
The bigger dilemma is the rich figuring out their purpose in being rich. The hype gets hype because the media plays on it and hypes it up. And the rich get all worked up about it, in large part, because they don’t have a clear picture of their bigger future.
Have a envisioned future of what you want to accomplish with your wealth and on what timeline ought to shape the decisions made about wealth. And not the ever-changing tax law.
Regardless of the tax law, wealth creates regrets, primarily because the wealthy don’t live with a clarity about their envisioned future.
The tax laws are only the rules of the game which you work within in order to achieve that future.
Pay closer attention to the bigger future you and your family can have with your wealth, and let the tax laws be whatever they are, using them to your advantage the best you can. And when there is no tax advantage to do what you want, do it anyway, experiencing the joy of living your wealth with purpose and meaning.
See this special report to learn if your wealth situation is going to create regrets for you and your family.