Podcast Notes Key Takeaways

• How do people get away with paying no taxes?
  • They buy real estate and use depreciation to offset their taxes
    • If you buy a residential property, you can depreciate that asset for 27.5 years 
    • If you buy a commercial property, you can depreciate it for 39 years 
• Another way to avoid paying taxes is the buy, borrow, die strategy:
  • Buy an asset
  • Borrow money against it (it’s considered debt so you pay no taxes)
  • Put that money in a trust and when you die, you can pass it down to your kids without paying an inheritance tax 
•  Most of recyclables are actually thrown away
  • 9% of plastics actually get recycled
  • 91% of plastics gets sent to a landfill 
    • If anyone could invent a superior or more recyclable material for plastic bottles, it would likely make you a fortune

Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) host the podcast today with a special guest Aaron, Shaan’s brother-in-law. Shaan’s brother-in-law Aaron joins the podcast and gives some hot takes on “tech-bros” (1:13 ), Aaron breaks down the “Buy, Borrow, Die” method to avoid paying taxes (3:20 ), Sam breaks down how he lived in San Francisco when he had no money (17:45 ), Shaan and Sam talk about the “buy nothing” lifestyle and Buy Nothing Project, a big player in that space (29:32 ), Sam and Shaan go deep on recycling and how little is actually put back to use (34:35 ), Shaan explains an AI product that replaces mundane medical care tasks and how boring businesses can make a ton of cash (37:20 ), the guys kick around important people and how to create a vision for your own life (43:30 ).

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