All The Dogs
Barking Up The Wrong Tree Doesnít Make It The Right One!
by Saul M. Simon,
CFP, CFS, RFC
Simon Financial Group
money away into IRA's and 401(k)'s and paying extra principal on your
mortgage is counter-productive.
In the quest for financial independence, there are two places most
Americans accumulate the most money: our home and our retirement
plan. Following accepted wisdom, we set aside money in qualified
retirement accounts such as IRA's and 401(k)'s, enjoying tax
deductible funding and/or tax-deferred accumulation. At the same
time, we assume it's best to achieve the goal of outright home
ownership and save money on mortgage interest expense by sending
extra principal payments against our mortgages.
Unaware, like naÔve, inexperienced drivers, we proceed down the
highway of life, pursuing financial security with one foot on the
brake pedal and the other foot on the gas pedal! We may eventually
make it to our destination, but only after a pretty jerky ride. We
suddenly realize that during all of those years of earning money, we
socked a portion away in investment vehicles that give us a tax
deduction on the front end, just to be hammered with taxes on the
back end! At the same time, we were killing our partner, Uncle Sam,
by eliminating one of the best tax deductions we have as Americans -
our home mortgage interest.
During our 'golden years' of retirement, we painfully come to the
realization that we increased our tax liability by postponing it to a
time when we no longer had significant deductions. In frustration, we
complain, "But I did everything right! Everyone concerned
about their retirement puts money into IRA's and 401(k)'s, and I've
always been taught that you should pay off your mortgage company!"
There is a valuable lesson I have learned in life - all dogs barking
up the wrong tree doesn't make it the right one!
An education seminar is being
conducted by Simon Financial Group featuring Saul Simon, and
highlighting a new book, Missed Fortune, just published by
Time-Warner. This seminar teaches concepts and gives insights that
are contrary to popular belief. The strategies revealed will rattle
conventional thought. You will gain insight into financial
opportunities that you probably didn't even know existed. You will
never view your house, mortgage, retirement plans, investments and
insurance the same way again. For example, you will learn a strategy
to take $25,000 from your retirement plan tax-free at age 59 1/2!
The insight you will gain by attending this seminar will either force
you to implement new strategies or will leave you forever wondering
how much more you could have accomplished had you done so. There are
two ways to handle new information: Ignore it as false, or
increase your level of understanding to accommodate the new idea.
Feeling open- minded? Dispel the money myth-conceptions. Isn't it
time you became wealthy?
This dynamic seminar will be held on Wednesday, December 8, 2004 from
7:00 to 10:00 PM at the Somerset Marriott, located on Davidson Ave.
in Somerset NJ. There is easy access from I-287, exit 6 with plenty
of lighted parking.
This educational seminar is taught nationally at a normal tuition of
$100. However, subscribers to Career Tips are cordially
invited to attend this presentation at no charge, compliments of our
sponsor, Simon Financial Group, For guaranteed seating, please RSVP
© 2004 John Hadley Associates. All Rights Reserved.