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Planning your retirement
"What is stealing your wealth?" asks Robert Kiyosaki. His answer is debt, taxes, inflation and retirement. Robert goes on to say, "Are they a part of your life? Of course they are, and they are stealing your wealth right out from under you."
Unless an individual hires an accountant and starts a business, there isn't much an individual is going to do about taxes. There's the old saying, "Nothing in life is guaranteed except death and taxes."
The real estate crisis that can be blamed on people buying too much home for their budget but mostly it is due to many people not having a sound financial plan. There is an old saying, "plan to succeed or you are planning to fail."
If you need help developing a success plan, then contact us today! We can’t wait to hear from you.
In this post we briefly touched on taxes as a thief, but what about the other three wealth thieves? Well, we will address those issues in the next couple of blog postings. Stay tuned to find out more!
Our business isn't a large business but I was thinking about tax breaks for businesses. All this means is that the business is allowed to offset some profit for their investment. That investment could be in internet technology, or it could be software or anywhere else for that matter. Then it occurred to me that without businesses having invested in internet technology, the internet would not be as sophisticated as it is today, without investment from businesses yesterday.
The question is, would you be willing to invest thousands of dollars in 1996 and every year since, so that the internet would be where it is today? Probably not as an individual. However, many businesses invested in the technology in 1996 so that we could enjoy fast internet today. If technology was not an allowable write-
Now, our discussion can move into the tax benefit offered to you as an individual. You as an individual have a way to reduce your tax burden through a government provided incentive. That incentive is in the form of home ownership. The government allows a tax write-