3Money Traps Most get caught up In
The Biggest money trap people get caught in that drains there bank accounts and pocketbooks.
Let’s start with the biggest culprits in this money game that we hear people complaining about. Understanding the tax game is what most don’t. I saw on tv a couple won that lottery. The one about 5 million Dollars. What people don’t understand win it comes with lottery winner is the taxes. People fail to understand that you don’t get all that actual winnings about 25 to 35% of th0se winnings to Apgo to the government. so that will leave you with about little over a million dollars proximity 1.2 million.
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The other problem with taxes is how most earn their money. The working class is taxed the highest and Big Business and invest tax the least if at all. Most get mad because of this in this diagram up above that show where most work in and where you can change and place your self in another tax bracket. You see on the left are the people who pay the most in taxes and the self-employed people and those who work a job.
Retirees get shafted most by having savings. Because most are taught as youngsters that the way to have things. But this isn’t totally true. Especially when you’re told to have savings accounts which are the worst things to have. Banks don’t give munch on your money for it to work for you and grow plus the use your money to give out loans to other at more interest rate then what the pay you for having an account there. So how fair is that? And if you go borrow from the same bank you have an account with they may give you money on your own money-saving at a hight interest that they don’t pay you for having it there. These are the true scheme that traps most and keeps struggling.
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These are some of the info that will be in my upcoming book. What most struggle today because they are on the wrong side of the balance sheet