Stock Market
Subject: Financial
Article #021
06-17-2016
Article #021
06-17-2016
For you who don't know what, A Cup Of Coffee With God Vision Ministry is about, we focus on financial topics all while using teachings and words that we believe God would like us to use.
We believe that the stock market is not a get rich method. The market doesn't just go up it also comes down, which we believe causes lots of worrisome days. It may have even made some people poor. A simple (after taxed) savings may be the best way to go, just as long as you make sure that it is not a market type savings. What you may want is an old fashioned savings account, where you should have most of the control. Nowadays, jobs may only be a five year period and then you're looking for a new job. If you find yourself in the need for funds and have to access some type of before taxed savings, you will then have to pay taxes and may also have to pay a penalty and fines. If you found yourself in this same situation but have an old fashioned (after tax) savings account, you should be able to access it without the worry of paying taxes, and unless it is some type of an account that is locked for a certain duration ( like a CD ) there shouldn't even be fines or penalties. I know someone who lost a job after 28 years, and four and a half years before retirement age. This person had to start over at a lower paid job, and yes they even needed to take out of their before taxed savings account, and had to pay over $20,000.00 in taxes???? God Loves All His Children. |
A Reminder Note
Be sure that any savings account you decide to place your money in is FDIC insured, and make sure that you check and verify the bank that you decide to trust with your funds.
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