system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why doesn't everyone keep their money in tax haven accounts?
gpt
Generally speaking you aren't taxed on your savings, you are taxed on your income.  The only advantage to moving it overseas is to prevent a garnishing of your assets.  For the most part tax haven accounts are more for companies and corporations.  The idea being if it is cheaper to do business in another country and pay import/etc taxes many companies will do it.  Not everyone can because it makes things more complicated from an accounting/structure standpoint which has costs and corporate structure associated.