We all should prepare for the future by investing. Here are some tips for doing this.
Too many Americans do not realize the long-term effects of a current crisis in their country.
The US is currently over twenty-two trillion dollars in debt. And with our two primary government parties continually clashing over every issue, it appears that there will be no agreement on how we can get us out of debt anytime soon.
Yes, even governments go bankrupt and fall apart. This unfortunate event happened to the Roman government 1,543 years ago. Recently the government of Venezuela collapsed, and its citizens have no money, no food, and no basic necessities.
If we do not get out of debt, our government will eventually collapse. This might not happen in your lifetime, but it will happen if we do not reduce or eliminate our debt.
Because of this tremendous growing debt, we should not trust that that Social Security will help us when we retire. It may not be. I know this is a scary thought, but each one of us needs to save enough money for retirement, by investing.
Perhaps your children, grandchildren, or great-grandchildren will be alive when this happens. Don’t you want to do everything you can to secure the future of your loved ones?
What can you do to protect your family? You may not affect US politicians, but you can change your investment strategies.
Investing differently would have two major impacts on our country. Since investors improve the economy for everyone, it would send a message to US leadership that we want change. Also, it would ensure that your loved ones will have some financial reserves for the rough times ahead.
Current trends in investing…
When I was in college, I had saved a few thousand dollars and wanted to invest that money, so I invested in some technology stocks. But, even though technology is the future, I would not do that now. Anything could happen–a sharp increase in inflation or a recession. And neither of these things is good for the stock market.
Another reason the stock market is not a good investment at the moment is a tax on stock market trade that NY Freshman House of Representatives member Cortez (AOC) is introducing. She has proposed a tax on all stock market transactions that brokers will pass on to investors. She does not realize that this is double taxation since investors already pay taxes on money made from investments. Also, she does not realize that people who invest improve the economy for everyone.
Future possibilities for good investments…
If you want to invest in something that the government cannot tax more than once, investing in precious metals is the wise thing to do. You can sell it or trade it in any country anywhere, and the only tax you pay is the sales tax when you buy it. The only extra expense or tax you may have is the small cost of insuring it with your homeowner’s insurance.
You should be aware that you can’t simply put your silver jewelry — or gold bars — into your IRA. The IRS only allows for specific gold, platinum and silver coins to go into an IRA, such as the American Eagle coins. However, no other coins or precious metals are allowed to be deposited into an IRA. Also, IRA withdrawals can be subject to taxes.
If more US investors bought precious metals instead of stocks, Washington DC might get the message that Americans want change! Perhaps then our leaders might begin to work together to pay off the US debt and improve our economy. But if we do not send the message, I believe the American people will never end their economic woes.
The writing is on the wall; the US economy may get much worse! So perhaps Americans trying to save for a rainy day should consider investing in gold, silver, and platinum and storing it in their safety deposit boxes.
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The best investment of all is…
Make your Mom happy by doing this!
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