Inflation and taxation can erode wealth over time from "summary" of Rich Dad's Prophecy by Robert T. Kiyosaki,Sharon L. Lechter
Inflation and taxation are two silent wealth eroders that can slowly diminish the value of your hard-earned money over time. Many people fail to realize the impact of these factors on their wealth because they are not always immediately noticeable. However, as time goes on, the effects of inflation and taxation can become more pronounced, leading to a significant erosion of wealth.
Inflation is the silent killer of wealth, as it reduces the purchasing power of money over time. Even a low inflation rate can have a significant impact on your wealth over the long term. For example, if the inflation rate is 2% per year, it means that the value of your money decreases by 2% annually. This may not seem like much in the short term, but over several years or decades, it can add up to a substantial loss of wealth.
Taxation is another wealth eroder that can eat away at your financial resources over time. Taxes can take many forms, such as income tax, property tax, capital gains tax, and estate tax. Each of these taxes can reduce the amount of mo...
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