I see people often talk about ways to avoid taxes, primarily moving to other areas and claiming gains there. This includes people who are making millions a year to people who are making significantly less. Taxes are annoying and yes they suck, some might even call them theft, but I think people miss the point when it comes to avoiding taxes and thats the quality of life many people often sacrifice for lower taxes.
This isnt the case for everyone and in some cases people love the places they are moving but in other cases I see people move to a place they like significantly less, just to save a bit of money a year. Even if you are saving 15% more a year, if you are one of the people making millions, what is the point? Even with a smaller house or maybe a few less toys, you will still have a pretty good quality of life almost anywhere. Moving to somewhere which makes you feel like a foreigner in someone else's country isnt how a home should feel.
Countless people have made the mistake and ultimately moved for tax reasons and in a few years moved back. If you are going to move, I would say rent there first for a while to see if you actually like the place you are going to. Making a decision based solely on money is one of the surest paths to a choice you are going to regret. Money should be a means to an end, once you have enough to live your life and follow your dreams, having more of it is redundant. If you think youll be happy with a ton more, but you still lack motivation or meaning, you are flat out wrong.
I dont care about whether or not you pay your taxes. I think you should just to avoid hassle from the IRS, but the point of this article is that money should always come second to your quality of life. If you can afford to live below your means in an area you love, why move somewhere you dont just because its tax rate is a bit lower? Time is the most precious commodity we have and everyone is dying one second at a time. Life is too valuable to spend your time in a place you dont enjoy waking up every morning just so you can have an extra few digits in your stock portfolio or bank account.
Live your life being fiscally responsible, but also doing what you love to do, especially if you have the means already to do so. Like I said, sometimes people move and love the places they move to more, but don't do it just for the money. I see people moving all the time with their new crypto wealth and I am willing to bet many of them will return in a few years time. Money should always come second in live, make enough of it and save it to live comfortable, but don't make decisions based solely on it.
-Calaber24p
Agreed - some of the greatest cities in the world can be the loneliest places if you don't find a great network there. While I certainly take no issue with people moving - it's their lives after all - folks should definitely also figure out what truly makes them happy (and it shouldn't be just money, to your point). Great words @calaber24p!
"If you think you'll be happy with a ton more, but you still lack motivation or meaning, you are flat out wrong" major key
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The tax situation is a bit more complex for many people.
Many libertarians in the US feel that if you're paying taxes, you're directly sponsoring the perpetual war doctrine of the US government, which has overthrown many democratically-elected foreign governments, not to mention the maiming and killing of millions of people in Afghanistan, Iraq and Syria.
Those tax $$$ are responsible for a lot of human misery!
Nice post.....
friend a question as a publication with 6 votes may have 4.71 $
amigo una pregunta como una publicacion con 6 votos puede tener 4.71 $
to pay taxes may give reward to government...and then government utilizesthe taxes and give rewards to the nation back with profit.... my thought about taxes is positive people should pay taxes
It’s sad that so many people miss the point of life, which is to live. Making money isn’t living, saving money isn’t living, enjoying who you are, where you are, with the ones you love is the best way to go in my opinion. Well written article, I really couldn’t agree more :)
I believe that, if our basic needs are not met, money can bring us much more happiness than if our basic needs are met. If someone who is penniless, homeless, hungry, dirty, sick, and unemployed receives $10,000 – enough to eat, go to a doctor, by a medicine, rent an apartment, take a bath, buy decent clothes, and look for a job – he will feel much more happiness and his life will objectively improve much more than if a millionaire receives a billion dollars.
Thus, I would say that the value of money (from our personal point of view) decreases exponentially with the amount of money that we already have. Along those lines, we should give earning money a high priority until your physiological and safety needs are decently met, but after that, focus on enjoying life.
I agree with you. You definately have to have money in order to survive. But having a lot of money doesn’t make you great. Money isn’t the measure of a human. You can never be so rich that somebody can’t call you a jackass. And be dead right about it.
Thanks! Speaking of which, I'm opening up to the possibility of moving somewhere with a better quality of life. America is a really expensive place to live, and I wonder if I might be better off somewhere else. I don't care much for big fancy clean streets and squeaky clean cities. I like a little grit. I'm wanting to know where the ex pats are going that they're loving.
Bro your word are not less then truth. I think you have lot of experience about life. I too think like you. I only want to earn money to help needy people.
Best line you said: Even with a smaller house or maybe a few less toys, you will still have a pretty good quality of life almost anywhere.
and
Making a decision based solely on money is one of the surest paths to a choice you are going to regret.
You have written very nice article. @calaber24p
really imprasive post i really like this
“Even if you are saving 15% more a year, if you are one of the people making millions, what is the point? ”
I think most rich people are rich because they have it in their blood. That are trying to save on anything, starting with food, ending with taxes. They like to spend on them self, but when it comes to others they are poor. Of course you have to pay taxes, but always pay as litle as possible.
Fully agree with a lot of point here, well written.
Especially avoiding living in an area with a higher tax rate, just to save some money. I am currently in the process of puschasing a home in a nicer neighborhood, with a 3x tax cost compared to my old neighborhood.
6x the property, nicer schools, privacy...you can’t put a price on happiness.
I’m an advocate for spending money on things you use a lot, and provide a better quality of life...and finally taking that step with my home.
Thanks for sharing, and enjoy the weekend!
There's more to moving than merely attempting to avoid high taxes, the one moving should sit down and count the overall cost implications. Low quality of life and other hidden cost would even be more costly in the long run.
The people who are making millions a year to save on taxes know they can’t take any of it with them right. Look at some of the weirdos in Hollywood that are really wealthy like Johnny Depp.
Money can buy you a lot of things except peace. When you are not giving tax, how can you be happy with that money!! Nice and informative post. Thank you @calaber24p
I am lucky enough to live in France: with decaying social fabric and extreme taxation, the choice to move comes with no regrets.
In all seriousness, you make an important point. Moving solely for the sake of a bigger number in your bank account is a recipe for disappointment.
Great advice that we often choose to set aside due to money. Greed often impairs our judgement and makes us value quantity of money over quality of life.