Musings of a Dumb Ass

Musings of a Dumb Ass.... This morning I was watching one of the morning news shows and they had the daily segment about finances. In my opinion American media doesn't speak to America, and this morning's segment steps forward as evidence of the gap between them and the real world Americans occupy. We all have to use what ever place we occupy as the benchmark for whatever subject is up for discussion, and in mine I think it I have a reasonable spot to draw opinion from. The segment today that struck me as out of touch had a financial expert telling us how to avoid paying taxes. All his suggestions had to do with investments, stock portfolios, and retirement accounts. Not many of his descriptions covered many folks I know. It is possible I live in a bowl and can't see out. But I live in hiking distance of a state capitol building and run a controlled community in which most of it's residents are known to me in a relatively personal way, so for my slice of life it's not hard to look around and see how things stack up in my world. The statement made by the expert this morning that got my attention was one about your 401K. He said that you could put up to $15,000 dollars in deferred tax free monies in and looked straight at the camera and said, 'If you haven't put the maximum amount in your 401K I urge you to do so immediately and take advantage of this opportunity'. In my world, a majority work in state government at a median salary of about $30,000 a year gross salary. The private and business sector is about the same. I wonder how Mr Smart Ass would have my world endure the tax deductions taken from their pay, make their household expenses, raise their family, and put $15,000 in a 401K to avoid paying more taxes? In my world it appears that the professional part of the population who could do such a thing is less than 10%, the other 90% had no need to watch that portion of the morning news show. Life is cyclical. Those in my world who strut their stuff only do so after a windfall of some sort or are digging a debt hole that will cave in on them in short while...... not many will make a $15,000 annual investment into their retirement account to take advantage of a tax savings. There isn't room in their budget.......... mine either........