Don't just dream about paradise, live it with Fiji Airways. Escape the ordinary with Fiji Airways Global Beat the Rush Sale. Immerse yourself in white sandy beaches or dive deep into coral reefs. Fiji Airways has flights to Nadi starting at just $748 for light and just $798 for value. Discover your tropical dreams at FijiAirways.com.

That's FijiAirways.com. From here to happy. Flying direct with Fiji Airways. Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less.

Today on the show, we're going to talk about capital gains taxes. I'm going to give you kind of a mini lesson, a mini lecture on capital gains taxes, and then we're going to focus a good bit on discussing opportunity zones. I should have done this episode months ago, and I thank you for your patience with me.

I should have done this if you remember the three-part series that I did on saving taxes by moving to a no-income tax state, saving taxes by moving outside of the United States, saving taxes by moving to Puerto Rico. I should have done this episode immediately the next day, but all of the busyness and challenge in my own personal life of a new baby, I simply wasn't prepared to do it.

So thank you for your patience, but I'm ready to do it now. And today I'm going to talk about opportunity zones because opportunity zones are a newly created scheme by the IRS or by the legislators, I guess I should say, out of the 2017 Tax Cut and Jobs Act.

And they are an opportunity for you and for me that could help us to save on capital gains taxes. Let's talk a little bit about capital gains taxes first. In many ways, capital gains taxes are less offensive to us than ordinary income taxes. But in some ways they are harder for us to avoid, which is a real challenge when it comes to planning.

As I discussed in the three-part series, you can eliminate legally your ordinary income taxes by moving from a certain state by moving to a state that doesn't have ordinary income taxes. You can reduce or eliminate your ordinary income taxes on your income by moving outside of the United States.

And I should specify that this show, especially the opportunity zones, will be exclusively applicable to US persons. The first part where I talk about capital gains taxes will be applicable to non-US persons, but the second half of the show is exclusively applicable to US persons. But US persons can minimize their ordinary income taxes by moving outside of the United States or potentially by moving to Puerto Rico or ultimately by potentially renouncing US citizenship and thus eliminating their burden for US income taxes while also simultaneously eliminating the privilege of being able to live and work inside of the United States.

But capital gains taxes are a little bit harder to avoid because everybody faces capital gains taxes and they cannot be eliminated by moving outside of the country. I actually need to correct something that I did in that series of shows where I erroneously discussed capital gains taxes in conjunction with the foreign tax credit and I stated that you could simply offset your capital gains taxes if you're paying them abroad.

I was corrected by a reader, sorry, a listener, that I was incorrect in that assessment and I went back and researched it and I was wrong. It's much more complex. I don't want to go into a detail right now, but just know that I made a mistake in that show about being abroad.

So with capital gains taxes in general, they're harder for US persons to avoid. Now in some ways there are better planning opportunities available for capital gains taxes in order to reduce them and minimize them, etc. First of course we can be thankful that capital gains taxes are due at a lower rate than the rate that is assessed on ordinary income as things stand right now, as I record this on July 17, 2019.

The current capital gains tax rates are generally no higher than about 15% for most people. If your overall ordinary income tax bracket is either the 10 or 12%, if your highest marginal bracket is either that 10 or 12% bracket, then some or all of your capital gains might not even be taxed at all, be taxed at a 0% rate.

And then there is a 20% tax rate that comes in when taxpayers hit the 37% ordinary tax rate, which kicks in at about $425,000 of income for a single person, $479,000 for married filing jointly, etc. Now there are a couple of other exceptions. For example, the most important exception is that sales of some small business stock can be taxed at a 28% rate, sales of collectibles can be taxed at a 28% rate, and there is a 25% rate that applies to unrecaptured Section 1250 gain from selling Section 1250 real property.

But for most of us, we're either in a 15 or 20% capital gains tax rate. Now this is really encouraging because it is far more reasonable to owe taxes at 15% than to owe taxes at 50%, at least in my opinion. 15%? Would I prefer it were 0%? Yeah, but I'm happy to pay taxes for a limited level of government.

I don't think income taxes make all that much sense. I know that the tax revenue has to come somewhere. Anything 10% range around that area, I don't think it's such a big deal. It's not nearly worth the level of planning and the investment of time and energy and money to get out of when you're dealing with something that's a 10% rate versus a 50% rate.

But certainly we would like to minimize the amount of taxes that are due. So it's good that they're at a lower rate. That's a good helpful thing. Another thing that's very helpful about capital gains taxes is you have the opportunity to control when those taxes are due. That's extremely helpful.

For example, let's say that you buy a house, a rental house, you rent it out. Now when you sell the house, if you realize a capital gain, you are going to pay taxes. But you can choose when you sell the house, which means you can choose when you're going to owe that tax.

So that's another helpful thing about capital gains taxes versus ordinary income taxes. It's much harder for you to control when you receive income if you are working than it is when you sell an investment. Income there are all kinds of rules about when that income is going to be recognized.

You can defer some of it. We just talked in the most recent show about yes, you can defer some of it into a 401k, thus deferring the tax liability for a long period of time. But now the law may change so that now it's got to come out within 10 years of your death, whereas previously you could defer it for longer.

So we're always subject to rules as far as when you defer it. But with your own asset, you can choose when you buy it and when you sell it. No one can force you to sell an asset that has an embedded tax liability. So that's very, very helpful with capital gains.

Capital gains assets can also often be capital gains taxes can also often be deferred with the like kind exchange rules. This is especially applicable in things like real estate or real property where you can defer the asset. For example, you could buy a rental house today for $100,000. It grows in value for $200,000.

You have $100,000 value in the asset, $100,000 of gain that would be taxed when you sell it. But if you do a like kind exchange and exchange your $200,000 of rental property for a different rental property, you can defer that tax and you can actually do this through your entire lifetime.

You can do this with life insurance. You can do this with annuities. You can do this with real estate. You can do it with some forms of tangible property and you can avoid the tax for a serious, an extensive amount of time. That's very, very useful. It's also useful if you can have an asset that you can then borrow on.

For example, real estate investors routinely will defer the payment of their tax by doing a like kind exchange. And then in order to access money from their investment, they'll put a loan on the property. And because real estate loans are at such a modest interest rate, it's a very efficient plan.

The interest is deductible. It's a modest interest rate. It's a very safe asset so that an investor who sells the $200,000 property can invest it into another property worth $400,000 and then pick up a $400,000 mortgage on that property, thus realizing a huge amount of money in their bank account that they can spend, but they have no taxable income because they've used a loan instead of a sale.

So they haven't sold the property and spent the money because that would incur the tax. What they've done is they've taken a loan and money that you receive in the form of a loan is not taxable income. Then over time, they let their tenants pay off the debt and the tenants pay it off.

The interest is deductible along the way. It's at a very modest interest rate and it works out pretty well. It's a pretty efficient system. You can do the same thing with something like life insurance. That's why you can access, if you have a lot of gain in a life insurance policy, you can take a loan against the cash values, the gain inside of a life insurance policy, and that's not taxable income to you because it's a loan on an asset.

Whereas if you did cash out the policy, you sold the policy or cashed it out, then of course you would be realizing income, which would be taxable. And the big disadvantage of life insurance is in that situation, it would be taxable as ordinary income, not even at the more favorable capital gains rates.

So capital gains taxes are relatively simple for you to control. And through tools like a like-kind exchange, you have the ability to defer the payment of those taxes until the future. Then you also have some benefits of capital gains assets if you hold them until your death. Most importantly, all most, I try not to say, I should say most, because maybe I'm just not thinking of something right now, but most capital gains tax, sorry, capital, capital assets, if you hold them until death can then receive a step up in tax basis by your beneficiaries, thus eliminating the tax due as long as we don't run afoul of estate tax rates.

So the way this works, you own a, you own a rental property, you buy that rental property for $200,000, but you continue to own it for your entire lifetime. Perhaps you take a loan against it, spend the money, that's up to you, but you own it for your entire lifetime.

Then when you die, that property is worth $1 million, but you leave that $1 million property to your children, your child. Well, your child will inherit that property and at the date of your death, that property will have a new tax basis assigned to it, which will be the value of the property at the date of your death.

So let's say that value is $1 million. Your child keeps the property for a couple more years and sells it for $1,100,000. What would happen in this circumstance is your child would only owe in capital gains tax on the $100,000 of income, the $100,000 of gain from the date of death until the date of sale.

The $800,000 of gain that you had embedded in the property would be wiped away by death, by the step up in tax basis. So this can work out really well. It's why when you're doing estate planning, you need to be really careful about what assets get sold and when.

I have seen major tax bills from people who didn't thoughtfully approach their tax planning on their assets. If you have that $1 million property with a $200,000 tax basis in it, I would much rather see you keep it and take a half million dollar loan against it or a million dollar loan against it, it doesn't matter, to fund your needs than to see you sell it and have to pay capital gains taxes on $800,000 of gain if you just want to leave it and let your kids sell it.

So appreciated assets, appreciated capital assets are usually good assets to leave behind to your children. And if you understood the flow of that logic, you can see why now there is much more value, especially if the rules do change in the future about the heritability of IRAs and the ability to do a stretch IRA, you can now see why we would start to walk away from the value of leaving behind IRAs for children and go back to the value of capital assets because we can completely eliminate the capital gains tax due by having your property receive that step up in tax basis at death.

So these are some common ways, common and ordinary ways of dealing with capital gains taxes for US persons. But beyond these, there aren't a lot of ways to save, there aren't a lot of ways where you can lower it all that much. I think again, most people just have 15%, usually 20%, it's not so egregious and they just deal with it.

But still, you're fairly limited and there aren't a lot of other things. These are the basic tools that are in a tool chest that I've just described to you. Well in come the concepts related to opportunity zones and this is fundamentally new, which is why it's important for us to discuss.

An opportunity zone was, opportunity zones were created by the 2017 Tax Cut and Jobs Act. It took a while for them to be phased in because all of the different states had to respond with where in their states were actually going to be the opportunity, the designated opportunity zones.

But let me describe first what the benefits are of your investing in an opportunity zone and I'll go back and explain a few more details with as far as what defines an opportunity zone and how to find out where it is. Basically an opportunity zone is a certain district or a certain geographic area, a census tract that qualifies as needing additional capital to be infused into it.

So the definitions by the Internal Revenue Code, an opportunity zone has to have a poverty rate of at least 20% or it has to be a place that has a median family income of no more than 80% of the statewide median family income for census tracts within non-metropolitan areas or no more than 80% of the greater statewide median family income or the overall metropolitan median family income for census tracts within metropolitan areas.

So these are the basic requirements. Then according to the law, up to 25% of the census tracts of each jurisdiction that met these criteria could be nominated and an additional 5% of each jurisdiction could qualify if it met a different set of income or geographic qualifications. So the details are not important.

The thing is just simply to know that these are economically depressed or economically disadvantaged or not economically productive zones. And the idea is can we incentivize investors to go into these places and start new businesses, invest in new things if we incentivize them by saving on taxes. And so let's discuss carefully what you save on with taxes because this is very important and it could be a huge opportunity for some of you to save a significant amount of money.

There are potentially three layers of tax benefits if you will invest in an opportunity zone, if you'll make an investment in an opportunity zone. The first thing is if you sell assets and realize a capital gain that would ordinarily be a taxable capital gain, you can defer paying that capital gain tax on those earnings until April 2027 if you can hold these investments through December 31, 2026.

So this is important. First, if you have an asset and you sell it and realize a capital gain today, if you invest that money, that capital gain into an opportunity zone, you can defer the taxes that you owe. The second benefit is if you hold your opportunity zone investment for at least five years prior to December 31, 2026, you can reduce the tax liability that you owe on that deferred capital gain by 10%.

If you hold the investment for a minimum of seven years prior to December 31, 2026, the tax liability can be reduced by 15% total. So the first benefit was that you could defer paying the taxes and that has a substantial benefit which we'll talk more about in a moment.

The second benefit is you can reduce the taxes that you owe by potentially 10% or 15% but in this case 10% because we're pretty close here to that seven year mark. Yeah, we're over it now. So you can reduce your tax due by 10%. That's the second benefit. And then the third thing is if you make an investment in an opportunity zone and you hold that investment for at least 10 years, then you can expect to pay no capital gains taxes on any appreciation in the opportunity zone investment if you hold it for at least 10 years.

You qualify for a permanent exclusion from the capital gains tax. That's for an investment that's made in the opportunity zone. Now let me give you a little bit of texture as to how valuable these particular benefits are because they could be very substantially very, very beneficial. Let's assume for analysis that you have an asset that has a $1 million embedded gain, a capital gain.

You have a $1 million capital gain in an asset. This can be stocks that you own, real estate, business, doesn't matter. Any kind of capital gain asset, $1 million. Let's assume that you're going to be taxed on that $1 million at a 15% long term capital gains rate. So that means that you have a tax liability of $150,000.

If you sell your asset and realize your $1 million of gain today, then you'll owe the IRS a check for $150,000 today. Well if you want to participate in an opportunity zone, here's how the numbers would work. The first thing that you can do is you can sell the asset and then you have 180 days to buy something else, to buy something that qualifies in an opportunity zone.

This can be to start a business, it can be to buy real estate, there are a number of different investments that it could be. It could be even a fund, an opportunity fund, a fund that's being managed by somebody else. But you invest your $1 million into an opportunity zone investment.

And we're going to assume that you maximize this program by holding things the maximum period of time. The first thing that you will save is you will be able to defer the tax until the year April, until 2027, until April 2027. That deferral means that the tax that you owe could be substantially reduced based upon the time value of money, especially based upon inflation and the effects of that.

And also reduced by your being able to use the money yourself. So basically, instead of sending the $150,000 to the IRS this April, you get to wait seven years, yeah, seven years to send it to the IRS. Well, what is that worth? Potentially if you could invest the money, a lot.

So $150,000 that you can invest today, starting with a present value of $150,000 for seven years. Let's say that you could just invest that into something, if you had the chance, you would don't because it's an opportunity zone. But let's just for the sake of comparison, say that you're investing it at 3% per year, no payments on it.

Well, at the end of seven years, that's potentially $184,000. So you now have more money that you can use to pay the IRS. You have a little bit of extra. Instead of them taking the money and earning interest on it, you've been able to take the money and earn interest on it.

Now additionally, you have the fact that inflation will be trucking away, reducing the value of the tax liability that you owe the IRS. If we use the same math, the same $150,000, let's assume that the value of that $150,000 is being reduced by inflation and we do 3% for seven years.

That means that in seven years, when you owe the tax, you're going to have to owe what in today's dollars you would need only $121,197 to pay because the value of the 150 in seven years at 3% inflation would drop to be 121. Now we don't know exactly what would happen with inflation, but it could be, you know, 3% is not an unreasonable number to use.

So you can invest the money and earn benefit from it and you can pay the money back in the future with inflated dollars, which goes farther. That's pretty significant. That could be very, very significant for some of you because now you have an additional, basically you have an additional $150,000 of investment capital that you can deploy into an opportunity zone business.

So that deals with the first one. Depending on the amount of capital gains that you have, that could be extremely substantial. If you add $10 million of capital gains and you went ahead and realized that $10 million of capital gains and you could take the $1.5 million that you owed and invest it into an opportunity, you know, invest the whole thing into an opportunity zone, but avoid paying the $1.5 million of tax, we're talking big numbers here, big opportunity.

So if you have capital gains assets, you should seriously consider it. What's the second benefit of it? Well, the second benefit of it is that 10% reduction in value. So not only do you in the future get to pay back your taxes with inflated dollars instead of today's dollars, now you get to have the total tax bill reduced by 10% if you hold the investment for at least five years.

So that lops off back to our $150,000 example, that lops off $15,000 from the tax bill. So in essence, now we had our tax bill of $150,000 dropped to $121,000 due to paying it back with inflated dollars. And then from $121,000, we can drop off another $15,000 due to the 10% discount.

And now our total tax bill that we're going to owe is $106,000. Not bad. Pretty substantial, depending on what happens with that inflation expectation. Lowered our tax bill by a third from $150,000 to $106,000. That's good. Now then the third benefit is potentially very, very large. And that is the fact that your investment that you make in the opportunity zone, if you hold it for at least 10 years, it qualifies from permanent exclusion from capital gains taxes.

So if you buy a million dollar investment, and that over the course of 10 years, you're able to force some kind of significant appreciation in your investment, some kind of significant change and go from $1 million to $5 million in value, you now can avoid paying the capital gains on the $4 million of gain, which at a 15% rate would be a $600,000 savings as long as you hold it for 10 years.

Those are the tax benefits of investing in an opportunity zone. This could be substantial for the right set of facts. Now if you don't have any assets that have any significant gains built into them, then your benefit for this would be limited to the appreciation and the benefit to defer capital gains on your opportunity zone investment.

You can still participate. You just won't get the benefit of saving on the embedded capital gains that you already have in your portfolio. But this could work out. You have money in a checking account, you go and instead of choosing to buy a house that's outside of an economic opportunity zone, you buy a house that's inside of an opportunity zone.

Well, if you can make a substantial increase in the value of it, you can have that capital gain tax-free. But this really applies to those of you who have embedded gains. If you have an asset that has embedded gains, this is well worth your considering selling it and investing in a qualified opportunity zone in order to save on the gains that you have now.

It's unlikely that there's going to be a better thing coming in the next few years. As I record this, again, July of 2019, I think this is a good time for you to look at your portfolio and consider your assets. Stock market values are historically high at the moment, which means that it's very possible that you may have some very significant gains in certain stocks that you own.

Real estate markets for most of us throughout the United States are significantly high at the moment, which means that you may have some real estate that would be worth selling and resetting in some way. There are other interesting markets that are high. For example, you may be a cryptocurrency investor and you might have significant embedded gains in one of your cryptocurrencies that can qualify under this scheme as well.

So the key thing is look at your portfolio and think about whether or not you have something, you have some kind of gain that you would like to go ahead and use in this particular scheme. Here are the specific rules from the legislation that qualify a certain gain for the investment into an opportunity zone.

First, the gain is treated as a capital gain for federal income tax purposes. If so, it's eligible for deferral. It has to meet all three of these conditions. Number one, the gain is treated as a capital gain for federal income tax purposes. Number two, it would be otherwise recognized before January 1, 2027, if not applying for deferral, which means you would otherwise get it from the sale of the asset.

And number three, it does not arise from the sale or exchange with a related property. So this can include short-term capital gains, long-term capital gains, net section 1231 gains, unrecaptured section 1250 gains. Doesn't matter. All your gains will retain their identification, are they short-term, long-term, long-term for the entire portion of the deferral.

So you can see here how, depending on the specific asset, it could be even more significant of savings for you. For example, let's say that you're selling some collectible or short-term capital gain asset that can qualify and your rate would be higher than 15%, thus making all the math that I did even more beneficial.

Or perhaps you're in a 20% rate plus the 3.8% Medicare surcharge tax. So you have a 23.8% tax on your long-term capital gains, qualifies, and all of it would be saved. Then you have to invest it. You have to identify an investment and invest the money into an appropriate opportunity zone investment within 180 days of your realizing the capital gain.

So let's talk about what your options are. You can do this directly or you can participate into an opportunity fund. The legislation specifically allows for the creation of qualified opportunity funds. And these qualified opportunity funds are being developed now. They are available now. I'm not going to name any names or discuss that.

It's easily available to you with a search of the appropriate internet and resources. But they are there and you can invest in an appropriate qualified opportunity fund. So you don't have to be the active manager. You don't have to be the one specifically identifying the investments. You can pay a manager by investing in a qualified opportunity fund and you'll retain all of your tax benefits.

You will notify the IRS of your investment using tax form 8949 and your schedule D when it comes time to file this year's taxes or whenever you do this. And then when the taxes become due in the long term, then you'll pay those taxes. And then you will, again, as long as you hold the investment for the 10 years, you can potentially eliminate your capital gains tax liability from whatever appreciation you can earn from your quality opportunity funds investment.

A couple of interesting questions to discuss, some frequently asked questions. First, there are opportunity zones in every state and I think it's a total of two zones that were added late last year in Puerto Rico. So you can also do this in Puerto Rico, which could, and potentially if you're using Puerto Rico to improve your tax situation like we discussed in the show on Puerto Rico, it's possible that you can additionally do this in Puerto Rico and use that as a part of your overall planning structure.

So it's worth your considering there. But there are opportunity zones and funds in every single state. And some of these areas are very interesting. There are places out in the country, there are places right in the middle of the city. Now you will have to look up easily findable online.

You can look up one of the maps and see where the funds are. You can find the lists of the ones that are in your state. There's no requirement that you invest in your state of residence. You can invest in any state. So if you want to invest in California or you want to invest in Mississippi, there are opportunities in each and every state.

All of these tracks, the census tracks are designated. They've been identified by your state government. Everything has been done and is available. So take a look around the map, take a look at some of the lists and see if there are anything, any opportunities that are interesting to you.

If you're starting a business, you should or think that you're going to be starting a business, you should seriously consider locating that business in one of these opportunity zones so that it qualifies for this potential exclusion on capital gains. There are a number of questions that are associated with exactly how to do this, but you can do it.

So if you're starting a business, and especially you should consider this if you're starting a business that has the potential for a massive growth in capital value, you should consider locating it within a qualified opportunity zone. Many people look first at real estate, but I don't think, I think there's opportunities, there are opportunities there clearly, but I don't think that should be the primary opportunity.

I think the biggest opportunity with any kind of tax scheme like this is if you're involved in something where there is huge upside potential. So if you're doing a tech startup or you're doing some kind of business that has the potential for a massive level of appreciation, think carefully about locating yourself and qualifying yourself as a qualified opportunity zone business.

I think that's everything I really want to cover in this particular show. There are a number of questions that I could imagine being asked, there are plenty of things, details, but I think I'd like to keep this show just focused on the big picture idea and simply close by telling you this.

There are a few things that are genuinely new and as they come along, things change. In the most recent show, I talked about the change of something that's been around for decades and hasn't changed yet, but it potentially could change and how utterly devastating that is. But this is the flip side.

This is a change that potentially you could use and I think this is the kind of thing with the kind of scale that I feel is, it's the kind of scheme that I think I would be confident in participating in because it's of a short enough timeline. It's clearly specified enough that this one should work out.

It's not just a long open-ended promise, a naked promise to pay kind of thing from the government. This is of a specific period of time and so I think this can work out. This is fundamentally new. So this is not in last year's textbooks, this is fundamentally new and it is fundamentally a potential for you that could be very, very significant.

So if you qualify, if you want to start a new business, do make some new investments, look to do those things in an opportunity zone. If you have assets that have high embedded capital gains, if it's a good time to sell those assets and if you'd like the potential to save on your capital gains taxes, potentially up to a third or so of the money that you're going to owe the IRS, this could be one way to do it and I hope that this helps you to save money.

I guess I'll just close with an ad to say this is a good time and a good thing to consider as you make your own adjustments in your life to pursue your vision of whatever financial independence and financial freedom looks like and means to you. And I would invite you to consider purchasing any of my courses that may help you with some of these.

But for example, let's say that you are interested in moving from a place that has, you're interested in starting a new business. Well, by moving to a place that is located within an economic opportunity zone, you could potentially have a decrease in your overall living expenses. That could be helpful to you because these are considered to be less wealthy, more struggling areas.

So you can move in, you could potentially find a place to live that cost you less and you could be part of a community revitalization in that process. And while you're at it, you can build your new business and enjoy some of the benefits of the removal of capital gains taxes on that new business.

So this is the type of thing that could allow you to have just one more benefit along the way. And when you start stacking all these benefits, that's where you get the really great opportunities. Let's say that real estate prices are high in your area right now, you go ahead and sell your house.

Well, you have some tax-free money there from the sale of your house and you can move to a place that's cheaper, perhaps a place that's safer than where you live now, although that you should be careful there with regard to the overall, you know, what you're moving into. And for context there, these are based on census tracts.

So some of these places are geographically huge and some of them are geographically tiny. If you go to the economic opportunity zones that are located in New York City, it's a geographically tiny part of the world. If you go to one of the economic opportunity zones that's located in Wyoming, it's geographically huge.

So consider that in your movements. But this could be a way for you to get multiple benefits. That's my point. Consider purchasing some of my courses, see if any of them help you out. I've got three available for sale right now at radicalpersonalfinance.com/store. I have a guide to career and income planning.

Why not go and get a dream job, start a dream business while you're at it? I have a guide to how to survive and thrive during the coming economic crisis. Why not move someplace safe? Why not move someplace that you want to be and put down some roots? Why not establish yourself in a place that is economically has more potential for the future?

It might seem strange to say we have to move to an economic opportunity zone, but you know as well as I knew, I know, that any kind of official system like this is going to have inefficiencies in it where you can find a wonderful place within an economic opportunity zone.

And so that could be helpful to you as well to set up a place that will insulate you from the potential for economic crisis. And then also of course I have how to borrow money and never pay interest and do it safely using credit cards, which is probably my favorite course to help people have access to capital in a safe way when they need it for things like this.

Go to radicalpersonalfinance.com/store. Adorama the creators trusted source for photo, video and audio gear is bringing you the best prices, fast shipping, easy returns and special financing this holiday season. Visit adorama.com for handpicked gift ideas, can't miss exclusives, daily deals, rewards and knowledgeable experts ready to help you curate gifts for creators and everyone on your list.

Adorama, the photographer's source for gear. Shop adorama.com today.