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#130November 4, 202053:55

#125 - What is the Buy, Borrow, Die Process?

About This Episode

Shaan and Sam are joined by Shaan's brother-in-law, Aaron Batchelder, to discuss the 'Buy, Borrow, Die' strategy used by the ultra-wealthy to build tax-free wealth. They explore various topics including real estate depreciation, the sustainability-focused 'Buy Nothing Project,' and the massive profit potential found in 'boring' industrial businesses like chemical dyes and conveyor belts.

Episode Description

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). Thank you to our partners this episode: Podium! Podium is an all-in-one SaaS tool that helps your business get reviews. Go to podium.com/mfm for 20% off and a $150 Amazon gift card. Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion.  See acast.com/privacy for privacy and opt-out information.

Key Takeaways

1

Utilize the 'Buy, Borrow, Die' framework by borrowing against appreciating assets like stock or real estate to fund your lifestyle tax-free, rather than selling assets and triggering income tax.

2

Joining a high-growth startup even 8-10 years into its journey (pre-IPO) can still lead to life-changing seven-figure wealth while providing a stable, high-salary environment.

3

Boring, unglamorous businesses—such as those manufacturing industrial dyes or niche mechanical parts—often provide the highest profit margins with the least competition.

Business Ideas Mentioned

Verified Premium Neighborhood Sharing Marketplace

Marketplace

Sustainable Industrial Material Manufacturing

Boring Business

Startup Employee Investment SPV Platform

SaaS

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Quick Stats

Duration53:55
Guests1
Ideas Discussed3
Topics3