In this episode, we spoke about how to invest your 401k, we took a look into Apple’s latest venture into healthcare, we covered Adidas new agreement with Ye, and we explained how you can save money on your taxes by hiring your child.
We also spoke about government stimulus, bull runs in the stock market, ChatGPT, Coin Base, and more. #marketmondays #ye #taxes
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LEARN MORE ABOUT: 401k Plans
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How to Invest Your 401k, Ye’s New Adidas Deal, & Save Money on Taxes by Paying Your Kids
Investing your 401k is crucial to securing a financially stable retirement, and staying informed about the latest investment opportunities is vital. In this article, we will explore how to make wise investment choices for your 401k, Kanye West’s new deal with Adidas, and a tax-saving strategy involving paying your kids.
1. Invest Your 401k Wisely:
A 401k is a retirement savings plan offered by employers, allowing employees to contribute a portion of their pay on a pre-tax basis. The key to maximizing your 401k’s growth potential is to make smart investment choices. Here are a few tips to get you started:
– Diversify your portfolio: Spread your investments across various asset classes, including stocks, bonds, and mutual funds. Diversification helps reduce risk by decreasing the impact of any single investment’s poor performance.
– Understand your risk tolerance: Consider your age, long-term goals, and personal risk tolerance while choosing investment options. Younger individuals may choose riskier options to aim for higher returns, while those closer to retirement might opt for a more conservative approach.
– Regularly review and rebalance: Monitor your investments periodically to ensure they align with your goals. Rebalancing involves adjusting your portfolio back to its desired asset allocation, ensuring you maintain the right balance of risk and potential growth.
2. Kanye West’s New Adidas Deal:
Kanye West, the renowned rapper, recently signed a significant partnership deal with Adidas. Known for his Yeezy brand, West has been highly successful in the sneaker industry. With this new deal, Kanye West’s Yeezy brand is expected to expand its product line, increase market share, and potentially lead to improved returns on Adidas stock. As an investor, keeping a keen eye on such developments can help you make informed decisions about your investment portfolio.
3. Saving Money on Taxes by Paying Your Kids:
When it comes to taxes, taking advantage of all available deductions and credits can lead to significant savings. One strategy is to hire your children for legitimate work in your business and pay them a reasonable wage. By doing so, you are providing them with earned income, which can then be used for various tax-saving measures:
– Tax-free child income: If your child’s earned income falls below the standard deduction threshold (currently $12,550 for 2021), they likely won’t owe any income taxes. This allows you to shift funds from your higher tax bracket to your child’s lower bracket.
– Saving for college: If your child’s earned income is eligible, you can contribute to an Individual retirement account (IRA) on their behalf. This not only helps save for their future but also provides immediate tax benefits.
– Business tax deductions: Hiring your child in your business allows you to deduct their wages as a legitimate business expense, reducing your taxable income.
However, it’s important to note that all payments made to your children should be genuine compensation for work they actually perform. Keep accurate records and adhere to tax regulations to avoid any potential issues with tax authorities.
In conclusion, wise investing in your 401k, staying informed about the latest business deals such as Kanye West’s partnership with Adidas, and taking advantage of tax-saving strategies can significantly impact your financial well-being. Remember to consult with a financial advisor and tax professional for personalized advice based on your specific circumstances.
Children should do what they are born to do, not work in the family biz if it’s not Gods calling on their life.
In my opinion, I think all this hype around Ye is blowing gas in his head. I think that at the end of the day, Ye had a lucrative contract with this company. This company didn't put Ye up to doing this crap. So, I think he went to them groveling because he finally realized the impact of the losses he caused them. So, he owes them billions. He basically violated his contract with them. And, so if the remaining products don't perform well in sales. He's still gonna owe them. He had to see this mistake for himself. Because, he obviously doesn't accept advice. Now, he has to bear the brunt of his actions. There was nothing "genius" of what he did. He fumbled the bag.
I don't think you can blame the people for being programmed into a system from birth up. Like blaming a child for what he/she is taught by their parents. I also don't think it's fair to expect the average person to even know, understand or even one day just realize they've been programmed. If that was how it is, the programming would never have been successful to start and our programming been centuries of continuous feeding.
anyone know about Zelinda Math Investments?
37:36 once the dollar was no longer tied to gold, America became an even bigger scammer to other countries. They essentially cheated their way to the top.
Yooooo my pops invested in Charles Schwab in 1999. Lost like 60% of the investment
Today is my birthday. Shout out to the Pisces
How much debt do each of the countries that you mention to be eating lunch have. The answer to that tells the real story. And the truth is they aren't.
Shoty at 1 hour 2 minute and 30 seconds you stated the Government worker Creed, " To do the least amount of work possible" It is criminal the amount of money wasted on these employees.
Its the govt faults because they they took away home ownership from the average American by increasing the qualifications to secure home loan after 2008 when they were allowing people to get 5 loans at time and forcing people to rent at higher rates therefor decreasing the money people have to spend on extra activities. They have also allowed companies to get to huge to align their own personal pockets which has killed small business. They cant compete with these big corporations like amazon, walmart, google, ect. One way to save the economy would be to break up these big corporations and put money back in the small business owner pockets and force these companies to increase wages. And i agree with both of yall on the american economy both seeing the end when the gold standard change and it being some of the best years after, once the gold ran out, they did exactly what rashad said print more money it also helped with opec because they probably didnt see the use oil slowing down.
It’s so hard to follow this shit. Talking slow no energy. Come on
Happy Birthday ❤️
Investfest 2023 dates?
I've come to realize as an investor that instead of letting my money sit idle in my savings account it is more productive to invest the little available and build a portfolio from the accumulated profit of investment
I'm 48 years old single mother living in Lyon. I'm hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can't be more proud than I am right now. I'm so glad made great decisions about my finances that changed me forever.
$ULTA
Happy Birthday shotty and Troy, Pisces season for sure 3/14 for me
Currently I invest in a Roth IRA weeks where I buy QQQ, VOO, APPLE, and TSLA. I also separately invest in Fundrise weekly. The first question I have is should I be putting an equal amount into the 2 stocks and 2 ETF’s weekly or should the ETF’s outweigh the stocks? The second question I have is Fundrise worth investing in or should I take all of that and add that to the Roth IRA? I greatly appreciate any comments!
Love These guys! Thanks for always dropping valuable information, appreciate you guys!
"Do I look like I got left out of bad and boujee?"
The most important thing that should be on everyone’s mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Silver, Gold, various stocks, and digital currencies
After WWI EVERYBODY was going to WORK. Now what everybody doing?! Not that!
Can anyone who got eyl membership help me? I purchased the $97 a month and I haven’t got my email at all I checked spam and everything. I also sent two issues and haven't heard from anyone. I contacted Millings and Bilal. Is it something on my side?
1:04:30
21:00 the people that they have to answer to or capitalists look up a fuck about anything except money.
The only dropped kanye because it was bad PR not because they have the actual stance.
The point of any corporations is to make money, and at that point, it was probably gonna lose them
money
and at this point they’re probably gonna get money.
Investing with (THE MASTER INVESTOR) is making me millions.
I and my brothers are earning hundreds of thousands from the stock market because of IAN DUNLAP.
To whoever reads this see you in Los Angeles let’s get too the money #eyl
The Drip segment came as i thought what would i wear to invest fest..
No Ian. Tesla doesn’t need to get into healthcare. That’s crazy. They will totally and completely disrupt the energy business. What on this planet is larger than energy?
I'm 61 yrs old. You don't really come in to your own until your mid 50's early 60's.
Yes sirrr
The stock market rally still appears to be in the midst of a normal pullback. I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, came across a success story of an investors that made up to $700,000 in few months from investing just $250K and I'd really appreciate it if I could get clues and pointers on how to make better profit
Preach!!! that message on LONG TERM investing in on point!!
Happy Belated Birthday Brother! Many more King. Thank you for excellent content.