Politics. Don’t you just love it. I live in the city of politics. Washington, D.C. is boring. I know. It is full of nerds and people from all parts of our country who come here to work. I remember in college many of my friends who came from Florida and California would tell us Washingtonians: “the pretty girls here are the ugly girls back home.” Heck, even New Yorkers would tell as that. Who cares. We have the brains in DC.
But back to politics. You cannot live in Washington, D.C. without hearing someone talk about politics. Even the restaurant dishwashers are all experts in politics in our town.
Now that the election is just around the corner, less than a month, who is the person that it is best for our economy or for us who are savers and wish to attain financial independence?
I will tell it to you like it is. I really don’t care. Really!
The Republicans who are following my blog are probably telling themselves that I am insane. All Democrats do is raise taxes and hinder all business growth.
The Democrats who are following my blog are probably telling themselves, no way. Republicans are a bunch money hungry people who do not care about the rest of America. They monopolize and just want it all to themselves.
You may have a political view and preference. You may be pushing a conservative agenda or you may be pushing a progressive agenda. But at the end of the day, what I do is make the best of what I have. In other words, I really don’t care if Biden or Trump is in the White House.
If Biden is pushing for health for everyone, then I go buy me some stocks from the pharmaceutical companies and health insurance companies. He wants to promote green planet, go for it buddy. I go shopping for companies that sell that. Tesla and solar panels.
If Trump is pushing for decentralizing the financial sector, I go shopping for bank stocks. He wants everyone to buy homes, I go shopping for homes and rent them. Interests rates are low, great opportunity to leverage my financial cloud.
You see my point. At the end of the day what you should be doing is find opportunities in everything. Don’t complain or start protesting. Just see how you can change your habits or tactics so that you always come out ahead and win the game.
This is how most, if not all, wealthy folks in our country do it. They play both political parties to their advantage.
Michael Bloomberg and his $1 Billion
Do you think Michael Bloomberg spent nearly $1 billion for no reason? Yes $1 billion in his political campaign. The guy continues to spend now with donations to the Democratic Party. Do you think this is wasted money? No way. The guy just invested in advertisement. He is now known in every country. His company Bloomberg can leverage and sell more ads, sign more contracts.
Donald Trump – 24 Hours 7 Days a Week Infomercial
This is the same thing with President Donald J Trump. He is just a marketing machine using our political system to sell you more of him and his company.
He has literally established his last name and his family for life. Everyone knows who he was and now that he is president who he is. You bet his kids are signing contracts left and right in every corner of the planet.
You do the same. Don’t focus on political wars, unless, of course, you get a kick out of it or you enjoy the intellectual interchange. If it is intellectual exchange because there are lots of fools out there who cannot have a civil conversation without losing their temper and all they want is to physically fight you. Those are ignorant fools and it is best to avoid them.
Stock Market
The stock market does not care who is in the White House or whether Democrats or Republicans are in the control of Congress or the Senate. What the market cares about is people buying products and companies making products to sell. It is all about consumer confidence. It does have a bit of behavior too because often humans, us, we do what other people do. We go with the flow. That can be bad or it can be good too.
I don’t pay attention to the bad news or whether people are on the streets protesting and burning buildings and taking down statues. These folks are quite upset and understandable why. But from my perspective, reading those news or going out there to join them is not going to put more money in my pocket or increase my net worth. My goal is to get to complete financial independence and have $10 million in the bank.
Do you see millionaires out there protesting. I don’t think so. They are too busy looking for opportunities to make more money. You should be doing the same. Well, at least that is my opinion.
Taxes
Them Democrats want to raise your taxes? Well just find a good CPA that can help you legally pay the lowest income tax possible. What was the amount Trump paid in taxes in 2016. I think it was around $750 according to the New York Times article. Yes. You can’t blame the guy. Hire the best and use the system. Don’t complain.
There are so many ways you can lower your taxes and deferred taxes as far as possible. He is heavily invested in real estate so of course he will use the 1031 to deferred taxes. Let’s not even talk about depreciation that can literally get your income taxes to $0 if done right.
You can also offset gains in one company with losses in another. There are so many ways to do this the right way. Unfortunately, and this is in every country, the poor or ill-informed pays all the taxes and the rich get richer. Well the reason they get richer is because they don’t complain and just learn the game, play well and they find opportunities in everything.
My accountant is not only a CPA but he is also a corporate tax lawyer. He does not come cheap but I don’t buy cheap. I buy experience and knowledge. Now what I don’t buy is actors and comedians who want to show they are intelligent and think they know it all and then you realize they are just a car salesman or saleswoman. I have met a few lawyers who are just this. Accountants, Realtors, Economics and all. Buy expensive but don’t give your money away to fools either.
Smile, Enjoy Life and Play The Game
It is better to smile knowing that, while people are on the streets complaining and pointing the finger at everyone for their failures, you are in great shape financially and your net worth just keeps going up. Find opportunities in everything. Smile at people who are complaining and just tell them:
“I completely understand your pain. It is not fair. This system is not fair.”
Economy Chiefs out there making serious money.
Meanwhile you are buying stocks and homes to rent to all these complainers.
Sincerely,
The Economy Chief
What to read a brief bio of the Economy Chief? Sure. Click Here – Economy Chief bio.