Random musings

Here is a post from FB that I've re-tasked as a blog post:

Which of the following is your retirement plan?

A. "Would you like fries with that?"
B. "Would you like a cart while shopping at Walmart?"

Even if, or especially if, you're planning on living on your 401k you'll need extra income.

The whole selling point of the 401k was that you'd be in a lower tax bracket when you retire. But many, if not most, retirees are finding themselves in the highest tax brackets of their lives and without their mortgage or dependent deductions they were used to. These people are often taking on jobs just to be able to pay their tax bills.

The 401k was designed by the government to be able to continue collecting taxes after people retire and no longer have any income to be taxed. It was NOT designed to help out the taxpayer.

What if there was a third option?

C. Own your own business?

Now, many of your normal expenses are now at least partially deductible, your rent or mortgage, your cell phone bill, your Internet provider, meals, travel, entertainment and more.

But what if you don't make any money? That's ok. Your expenses may be able to offset your income from other sources.

I'm not a tax lawyer or accountant, so I can't give you any advice. But check with a professional to find out how a home based business applies to your personal situation.

And contact me to find out about a home based business that may suit you.



And here's the list of interesting days:

Today - https://www.daysoftheyear.com/days/teddy-bear-day/ I did post a photo of Ben on my FB page www.facebook.com/rick.tompkins.1232

Tomorrow - https://www.daysoftheyear.com/days/good-neighbor-day/ I've only met 2 of my new neighbors so far

Next week - https://www.daysoftheyear.com/days/guacamole-day/ I may have to find some good guacamole here in Paradise. And here's a related bonus day: November 14th will be https://www.daysoftheyear.com/days/spicy-guacamole-day/

Next month - https://www.daysoftheyear.com/days/post-day/ Ask me how you can send a free card to celebrate