Kevin Clayson, the vice president of REIC, wrote an outstanding article called The Worst Investment in America.
You would be surprise to find out that more than 200 million Americans invest into a particular investment every month with the following features:
- It earns on average a zero to negative 3 percent annually
- Once the investment is fully funded, it produces no income, no dividend, yet you are still required to pay taxes on it annually
- Every dollar you put into this particular investment, increases rather than decreases risk.
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The Worst Investment in America
Wow,
I love this article Kevin. THis is so true and it really points out how much of a need their is for people to get more financial educated on these basic principles that can make it or breakt it for someone.
I want to see your view point on 401K’s and IRA’s.
The fundamental message of your article is true. It reflects what thousands of Americans do. Their actions reveal what they are taught by the best minds, Accountants, Financial Planners, Bankers and their University Professors.
We need to teach the opposite. That is, how do we use home ownership to the best advantage of Home Owners. Quick ideas include:
1: Own two and ten homes instead of one.
2: Use fast mortgage pay off techniques and borrow the equity for more Investments not for luxury purchases.
Engage me if you dare to help with those two key Investment lessons.
Alfred Fraser
DebtEraser
Alfred Fraser´s last blog ..May 12, No more debt