Paleo Diet: Raw Paleo Diet and Lifestyle Forum
Raw Paleo Diet Forums => Off Topic => Topic started by: Ioanna on March 18, 2013, 07:01:52 am
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wondering what are people's thoughts on how to save money? like how to actually save it without the government taking a cut?
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Depending on what country one lives in, "the government's cut" can mean different things. So, I'll assume we are talking about legal strategies in the US.
My main strategy to save money is to save money, literally. If you discipline yourself to live below your means, this adds up handsomely over the years. The US government doesn't take a direct cut on certain retirement savings contributions, so start there. For any other savings, remember things like tax-exempt municipal bonds, but don't put all your eggs in one basket in an attempt to prevent the government from taking a cut. Some investments are better, even if you do have a tax liability.
Remember, you will be a senior citizen one day, and it's a lot easier to be old with a nest egg. Like Woody Allen said, "Money is better than poverty, if only for financial reasons."
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You have to find ways to beat inflation.
Get into big enough multiple income streams.
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wondering what are people's thoughts on how to save money?
That's really simple. Earn more than you spend. That'll be your savings and government will not take a dime from it (in case of W2 employment).
If you invest your savings then profits are taxable just like any other income.
There are tax-exempt investments such as municipal bonds. There maybe more, just google it.
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Unfortunately, many current odious governments are making things very difficult except for those who are very rich. Stashing cash in Swiss bank-accounts and the like is no longer a way out. I've been told that Burma is a great place to store your cash. Burma has a reasonable advantage in having a more stable economy than many others, while still being opposed to interfering Western governments.
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Cash? It could be blown out in one day! The price of life is going up every year directly and indirectly, the nice sum of money today would be much less in twenty years, if and only if everything goes smoothly...
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Ok, look, if someone is sitting on pile of cash then there are financial advisers to help with managing it by redistributing across various forms - cash, gold, stock, bonds, real estate etc., depending on individual's needs and goals (short or long term).
If we are talking about insignificant amounts of money then the most liquid form would be the most appropriate such as cash or savings account. There is no risk of loosing any of the principal and I would not worry about 2% inflation. I would be more concerned about increasing income than counting pennies lost due to inflation.
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Invest in yourself and your own assets. Save enough money to buy something that makes more. If you have a business then you can funnel income into the business and not pay taxes because you may have gross income but not any profit. A lot of farms in USA are "investments" owned by wealthy people.
Also, buy things that are stable or increasing in value. Gold and silver are decent. Food and livestock prices went through the roof last year, will probably continue to do so.
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Can it happen that all livestock suddenly gets sick and dies?
Has this happened before?