Marty Mitchell wrote:
3. Growing food I eat.
If the average family of 4 really does spend that $15,000 annually that I read about recently(I have a family of 4)... then being able to cover just 80% of that would net me $12,000 tax-free dollars every year to re-invest. If the average person were to pay say 30% tax on allllllllllllllllllllllllllll of the different taxes we have to get the food on their plate. Just the savings on taxes is awesome. $12,000 over 30 years invested at 7% equals $1,133,529.44 after 30 years. Could be more if you add in the taxes.
Cj Verde wrote:
Generally speaking, we don't pay tax on food in America except on prepared food and even that doesn't come close to 30%.
Mark Thomas wrote:Marty, you make some good points there. I find many people just do not live within their means these days and then on the other side, I have met a couple that have savings but are way to conservative with their investments. I think if you can find that balance you at least will be on the road to happiness. That being said I am sure some find happiness in driving a brand new BMW - even if it's on HP and they are in debt to their eyeballs - who are we to judge hey?!