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Big Money
Why investing your money in a savings account is a waste of time and money.
I just recently applied for a new credit card with the bank i do business with, as I was on the phone talking to the sales rep in the credit dept she asked me if I was interested in opening up a new saving account. I asked her what interest rate the savings account was paying? Her response was for an account up to just $5,000 the interest rate is 5% I laughed and said no thank you not interested. I was tempted to do the calculations on my calculator but I did not want to waste my time ,
after inflation and capital gains tax this is what you would end up with on an investment of $5,000.00. You would receive $25.00 minus 3% for inflation equals $24.25, there is no capital gain tax on any profits below $1,000 so until you reach the $1,000 profit there is no capital gain tax. Another advantage is there is a tax free savings program for investments on the first five thousand. My point here is don't waste your time , money and effort on personal savings accounts that pay you just over two dollars and four cents per month.
Go For Gold Do It Now.>>
Big Money
Why investing your money in a savings account is a waste of time and money.
I just recently applied for a new credit card with the bank i do business with, as I was on the phone talking to the sales rep in the credit dept she asked me if I was interested in opening up a new saving account. I asked her what interest rate the savings account was paying? Her response was for an account up to just $5,000 the interest rate is 5% I laughed and said no thank you not interested. I was tempted to do the calculations on my calculator but I did not want to waste my time ,
after inflation and capital gains tax this is what you would end up with on an investment of $5,000.00. You would receive $25.00 minus 3% for inflation equals $24.25, there is no capital gain tax on any profits below $1,000 so until you reach the $1,000 profit there is no capital gain tax. Another advantage is there is a tax free savings program for investments on the first five thousand. My point here is don't waste your time , money and effort on personal savings accounts that pay you just over two dollars and four cents per month.
Go For Gold Do It Now.>>