Some straight talk about financial matters

As promised, here is the most important information any of us need in the United States to handle what is coming economically. Sorry about this for all you outside the USA, but I will get back to you shortly. First of all, if you have a few minutes to look at this, it would help greatly in understanding what is coming in 6 months:

http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171#

I try to keep up with what is going on because there are many friends and family I care about who I really don't want to see get burned again like they did just two years ago. Unfortunately for most of us, what is happening now and coming in six months will make what took place starting in September of 2008 look like a picnic.

If you were able to get to the above article, you were probably just as amazed as I was to see what is coming. I knew of some of these things but I honestly did not know about the whole package. All of us living in the United States have exactly six months to do whatever it takes to protect our assets and prepare for the huge burden of taxation coming.

Those living in Europe, Australia, New Zealand, Singapore and many other countries around the world probably wonder what all the fuss is about since the United States is so far behind the curve when it comes social services and the taxes needed to provide them. Good or bad, the laws have now been passed and signed in United States to pave the way for health care reform and a whole host of other changes which will take a lot of money to pay for.

It is not secret that most of the health care changes don't take effect until 2014. What happens the next three years are tax increases to pay ahead of time for the ability to provide insurance to everyone. What no one knew or understood was just how massive these tax increases would be and that they would come at a time the country is struggling to not go into another recession.

Depending upon what the unemployment numbers say this morning, the stock market may very well either explode and make up much of the nearly 400 points it lost this week or see the bottom fall out and drop like a rock. Lest we all forget; when the market goes down, all of our 401K's and IRA's go down with it. Many of us lost 30-50% of the value of our retirement accounts just two years ago. Some ground had been made up, but we stand on the verge of losing it all again.

Retired people live more on pensions and IRA's than on Social Security. Pensions are nothing more that investments in the same stocks and bonds that most IRA accounts are made up of. In some cases, pensions are very top heavy with one stock as is the case in much of the UK where almost all pensions had tons of BP stock in them. Hmmm, since the oil spill in the Gulf of Mexico, BP stock has lost over 50% of its value. Guess what has happened to the pension funds which had heavily invested in that stock?

I do not write these things to scare anyone and I am not interested in someone wanting to debate me by saying that "God will take care of us". Yes, ignorance is indeed bliss but it also can breed disaster, especially in financial matters. I know God can and will take care of us, but I believe He demands that we use the ability to think that He blessed us with as humans. I believe God expects us to be prepared and take action so as to not be caught off guard.

Everywhere I go I see no signs of any economic upturn. I see businesses I have been going to for nearly 20 years about to go under. I see so many vacant office buildings, warehouses and businesses of all kinds and nature there is no way all those buildings will ever again have thriving businesses in them. I see most people having to cut back and do without and make huge sacrifices just to survive. I see nothing happening to indicate anything is changing in a positive way.

It does no good to stick our heads in the sand and pretend nothing is going on or will be going on. It does no good to sit back and do nothing to prepare for what might be coming. For as long as I can remember, I have heard the saying "Prepare for the worst but believe for the best". With all my heart I believe that is what God is saying to us all right now.

We have a window of opportunity that may last another 6 months to make adjustments to our lifestyles, our portfolios, our retirement accounts, our debts, our frivolous free spending addictions, our wasteful habits and our general apathy toward all of these things. As Christians we want everything to be rosy every day. We don't want there to be storms or oil spills or earthquakes or financial meltdowns or unemployment or hunger or disease. We want everything to be a bowl of cherries with whipped cream on top every day.

Life doesn't work like this. Life, especially in these difficult times, demands that we not allow ourselves to get stagnant or ignore what is going on around and to us. I urge all of us to take the time SOON to re-evaluate any and all things in light of what is happening currently economically and much more so what is coming in six months with taxes. If prepare and do as God tells us individually to do, I believe we will then stand out like beacons of light when the times get their darkest in the very near future.

@iraqivetsgtret
Raynard Shellow @iraqivetsgtret ·

this encouragement is just one of the many reasons you have to turn off the tv for awhile, especially when those"talking heads" dont know what they are talking about.it's not about arguing , it's about listening to'Godly wisdom. thank for for always sharing yours. be encouraged and blessed

@silverpen
Tan Yeowhwa @silverpen ·

Brother Kirk, thanks for the information.:wink: It is good to know and be prepared even though I live far from the United States, but US being the number one economy would affect most economies worldwide. [img]http://www.tiptopglobe.com/skin/smile/s1278.gif[/img]

Really sound scary even with the present unsolved financial problems. May the Lord help and alert His children to take action .:studying:

Thanks for sharing again

Blessings always

From Hwa [img]http://www.thesmilies.com/smilies/office/fountainpen.gif[/img] Silverpen

@dagbig
·

Thankfully, I live below my means and am able to pretty much get by on a social security income. I consider it a divine blessing that my cost of living is low enough. I just pretend that my IRA's and SEP's belong to God and just as JOB said, "the LORD giveth and the LORD taketh away. Blessed be the name of the LORD." I lost 25% of my savings last go round on index funds and now am invested in GNMA fund which provides me with a little additional monthly income without touching the principal. It is difficult to make the money last every month, but fortunately, we live in a country where food is cheap and plentiful. I just can't pay for medical procedures and must beg for time payments in order to cover surgeries or MRI's. In the end, I forsee the government confiscating all private retirement and doling it back out through social security. Just my thought.
MARANATHA

Do not include honorifics.
@blessings2you

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