Thursday, 19 July 2007
Go out and spend all your money? -
I invest in mutual fund and lost half of values. I save the money in bank pay almost no interest. What interest, I earn get taxes 25 to 30 %. Price of things keep going up. Only answer I can think of is spend the money as soon as you make it. Just spend it all? It is only way keep the values of money, you have. Or. you guys get better answer?|::::|If you have invested in a mutual fund and just lost half the value of the investment, then you d be a stark raving idiot to withdraw the rest of your money. Right now is the best time to INVEST money, because the value of everything has gone down, meaning that your dollar buys more investment. So invest now to capitalise on the boom cycle that will happen when this market uncertainty is over. Each bust is ALWAYS followed by a boom. So leave it invested, and invest some more. Sure, you might lose some in tax, but you should get your tax done by a tax agent so you get more back. Also, you should look at investing in asset classes where you live that are taxed more generously. Talk to an accountant about your tax situation, and a financial planner about investing more money. Spending all your money as you get it is stupid. What happens when you can t earn any more money because you re too old/sick/injured to work? You starve. So don t spend it all. Best wishes|::::|i don t really know what your talking about but i kinda understand if your going to spend all your money as soon as you get it invest in something profitable like a piece of land
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