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Anchors and sails you need to know about in trading of 2024

I wanted to discuss with you the concept of “Anchor vs Sail” and the different aspects associated with each option. I’ve simplified the idea into two categories: “Anchor” and “Sail,” each with their own set of considerations.

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Anchor: • The implementation of a carbon tax on bills and high property taxes can result in increased costs to maintain a home. • Home values may remain stagnant, offering little potential for growth. • Higher taxes can impact overall income, especially in comparison to regions like Mississippi and OECD, which project lower net incomes for Canada over the next three decades. • Searching for a job can divert focus and energy. Sail: • Opting for a sail lifestyle can provide a predictable and stable income. • Being flexible and liquid in cash can be advantageous when necessary. • Generating independent wealth or prioritizing wealth protection becomes a higher focus. • Automated trading through systematic bots can help make optimal decisions. • The aspiration to live a beach lifestyle becomes a possibility. • Creating your own opportunities, especially with a focus on recurring income, can be a viable option. • For those in the tech industry, this lifestyle may be ideal for a nomadic lifestyle. • Prioritizing regions with the lowest tax rates, or even seeking zero taxes if possible. I hope this breakdown helps you understand the main points of consideration between the two options. Please let me know if you have any questions or if there’s anything else I can assist you with.

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