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Tricks of the Rich by Paul A Overy

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Chapter 7

The rich keep more of their income and how you can too

The rich realise that how they earn their money plays a very important role as they strive to reach and maintain financial freedom. Of course, it is not within everyone’s capacity to dictate the manner in which their income is earned, especially if they are an employee paid via the PAYE system. While I will return to the PAYE earner later in this chapter, I want to first concentrate on the self-employed.

The benefits of being self-employed

The rich earn most of their income through a private limited company – for the following reasons:

  • Limited liability is a superb protection for the business owner. The limited company structure allows you to limit the financial risks you ...

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