taxes

[Issabella Monroe]

Did anyone find the new tax as great idea or not with removing the brackets?
I pay taxes every freaking year so I am hoping that It does show something better for us single with no dependents.
Only time will tell!!
Also has anyone been buying into stock? Staff Edit - Biomed1

[nevercanhavetoomuch]

For those like me who don't itemize deductions doubling the standard deduction will help. There are also some changes to the Arkansas tax laws that will allow for an increase in my hobby budget.. LOL... Kind of limited now.

[BabyDallass]

I had a client who is into stocks told me to invest in the Staff Edit - Biomed1 Still haven't though..need to! Just need to know how to get started.

[Ginger Doll]

Originally Posted by BabyDallass

I had a client who is into stocks told me to invest in the Staff Edit - Biomed1 Still haven't though..need to! Just need to know how to get started.

I'd be interested in more info on that, as well.

[dtf2246]

There are a bunch. Most are penny stocks which can be high reward but also very high risk. Most are scams. Do your homework.

[BabyDallass]

Originally Posted by Ginger Doll

I'd be interested in more info on that, as well.

We need to look into it or if we found a stock guy we could exchange services lol

[Elvisisalive]

I have a tip for you. We can talk in person.

[dtf2246]

I day trade

[Issabella Monroe]

Really.. Interestingly I as well would like 2 be involved with all.that interaction.I have a trading account and habe stock but i need a person with experience with it. I need help tooo

[BabyDallass]

Originally Posted by Elvisisalive

I have a tip for you. We can talk in person.

muah! Your so sweet!

[Hatty242]

In reality almost no one (I'm including very successful money managers) beats the S&P500 over time. Your easiest and safe bet is to invest in an index fund that tracks the S&P500. There is also a method of averaging where you put the same amount in every month. The impact is that when stocks are down you are effectively buying more when prices are down and less when prices are high. In the long run you are way ahead. Another method is to track the 50 day moving average and the 200 day moving average. You can click on buttons on yahoo finance or any other that will plot those graphs. When those two lines intersect it's called a Golden Cross, and is an indication of a trent (up or down). These are very very good ways of investing. It has made me TONS of money on paper. However, in reality, I don't do that and I invest in individual stocks thinking I'm more clever and I lose money every time. so there's that. do as I say, not as I do and you will be successful.

[Hatty242]

Oh, and when I say "invest in an index fund" I mean a very low load (fees) fund. go with an established company like Fidelity or Vanguard. Loads (fees) will kill you.

[BBWDeAnna]

Personally I think before I went investing money in something I could lose money at..I would make sure I am maximizing my IRA contributions...either tradional or roth..and that I have invested in/taken out a WHOLE life (not term) insurance policy that will gain cash value over time and I can withdraw from later.

Stocks are almost if not like gambling..I wouldn't gamble my money until I had my retirement and nest egg secure first. I.e IRA's with yearly max contributions for tax reasons and 1 or 2 whole life policies. If I had no dependents I would also set up a will and a trust with people in charge so my money goes where I want if I was to die.

Penny stocks are tricky and you can be duped very easy..however find a legit one and there is money to be made.. sticks are awesome if you have the money to loose..because you can make money with the right investments. But you can also lose that money and have nothing to show for it except the time wasted to either hire someone to invest or doing it yourself

My advice..retirement planning..sound investment strategy...perhaps rental property (good tax right off if done correctly)..and stocks AFTER I have those things in place and built up

If I was NOT sitting on bare minimum 6 months-1 year worth of savings in my bank..and prefer 1-2years of liquid money In savings I can touch if needed not to mention my IRA and life policies. .I wouldnt think about gambling on stocks I could take a loss on

[dtf2246]

Good input Deanna. I play pennies pretty heavily (with money I can lose) and some years I make a ton and others I cry....if you dont have the base preps in place to take care of you when you are older it isn't a smart move.

[BBWDeAnna]

Penny stocks are fun..if you can find the right ones..its risky..more so than playing the stock market..but you are right..if you find good penny stocks you can hit a really decent return for a low investment..its fun to sit around and trade penny stocks if you have the money to burn

Originally Posted by dtf2246

Good input Deanna. I play pennies pretty heavily (with money I can lose) and some years I make a ton and others I cry....if you dont have the base preps in place to take care of you when you are older it isn't a smart move.