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<blockquote data-quote="HerefordSire" data-source="post: 629402" data-attributes="member: 4437"><p><em>The best way I know to save money.....</em></p><p><em></em></p><p><em>Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.</em></p></blockquote><p></p>
[QUOTE="HerefordSire, post: 629402, member: 4437"] [i]The best way I know to save money..... Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.[/i] [/QUOTE]
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