Think about how much money you have in your retirement fund. Then think about how much of that money is invested in locally owned businesses. Now ask yourself why. Then ask your financial advisor why.
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For those of you with an aversion to thinking, there’s a special City Council meeting tonight to figure out how best to squander millions dollars so a few low-skilled workers can keep their part-time jobs.
It’s at 6:00 p.m. in the third floor assembly room of the City-County building.
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3 comments:
Who called this meeting? What is the real purpose?
The City Council is voting on the sewer rate increase.
I think you raise a good point, bluegill. I consider myself to be somewhat of a progressive. I prefer to shop and buy from local business, as I tend to avoid big business as much as possible. However, I pay into my 401(k) every paycheck. Am I not indirectly supporting big business every time I put money into my mutual funds? If that is true, and I feel it is, how can we change that? Is there a way to form some type of investment strategy whereby we pool our retirement money together and invest in certain local businesses? In return, the investment group will get a percentage of the profits. We can place this money in a high-yield interest bearing account. All those who invest are buying “shares” relative to the amount he or she is investing verses the percentage already invested.
There is probably a better way to do this. The tax structure in and of itself would be a nightmare. I am definitely not a CPA nor am I a tax attorney. However, the possibilities would be interesting to say the least.
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