> If you want to live a wealthy lifestyle and all you have is unrealized wealth, you will eventually have to realize some of it to pay for things, at which point you get taxed.

If you really want to, you could defer it till after you’re dead. Just borrow against the principal rather than realizing a capital gain. Zero annual income (as no gain) and spend as much of it as you want.

You will have to realize it at some point. Or at least your estate will. But it doesn’t have to be while you’re sipping tax deferred champagne.