Here is a quick and very easy way to get a bigger refund (or owe fewer taxes) while saving for your retirement at the same time!
1) Contribute $5,500 ($6,500 if you are 50 or older) to a traditional IRA … do not do a ROTH
2) Invest the money in FIVE different dividend paying companies for at least the next TWENTY years
Make sure these companies are companies that you and millions of other people must use their products and services every day. Here are some great examples of stocks & companies I’m talking about:
- Your utilities company (Gas and Electric) you pay every month
- a freight train companies such as CSX
- Visa or Master if you use those cards daily or weekly
- Food companies such as Sysco Corp.
- The very company you pay for mobile phone service every month such as AT&T or Verizon
- And last but not least, the gas company where you fill up your car bi-weekly, such as Chevron, Exxon Mobile, Marathon Oil, etc. (please read this very short blog)
3) Make sure that your quarterly (or monthly) dividends are enrolled in a Dividend Reinvestment Plan, also known as a DRIP.
4) Do not invest your money in Mutual Funds–over the long run, you will just get an average return and will not do as well as the top 5% of intelligent investors.
5) Here is how you will benefit; you pay fewer taxes now, and you should have a lot more money in 20 years from now because the taxes you did not pay are working for you!
6 You can thank me by downloading a copy of my book far as low as $4.99 at www.sherwinpbrown.com
7) *** Please READ DISCLAIMER ON MY WEBSITE AT www.sherwinpbrown.com