The auto industry is roaring back far sooner than expected in the latest sign of the economy's two-track recovery.
Major auto manufacturers have been raking in money this past quarter as consumers who can afford it show unexpectedly strong appetite for expensive new vehicles.
Companies such as Ford, General Motors, Fiat Chrysler, Daimler and BMW reported impressive earnings in the period between July to September, surpassing their pre-pandemic performance in many key metrics. Honda and Toyota raised their profit forecasts sharply.
Follow-the-leader pricing is a competitive pricing strategy where a business matches the prices and services of the market leader. That is, a company will follow the pricing of the largest player in the industry. For example, when the market leader lowers the price of its goods, the company will lower its price to the same level.
The bill would automatically enroll employees in their company’s 401(k) retirement plan, increase a tax credit for low-and-middle income individuals who save for retirement, and allow individuals who are at least 60 years old to save more for retirement in tax-favored accounts.
For instance, let’s say you’re making $100,000, and you’re single, which means you’re in the 24% tax bracket. If you commit to putting away $10,000 a year – 10% of your pay -- into your 401(k), you’re reaping about $2,400 in tax savings.
WATCH NOW VIDEO05:41 Here’s what Biden’s tax plan could mean for investors In comparison, a single filer making $40,000 and saving 10% of his pay -- $4,000 – into a 401(k) would only reap about $480 in tax savings. That’s because he’s in the 12% tax bracket.
To equally incentivize savers regardless of what they earn, Biden proposes a credit of approximately 26% to replace the deduction savers get for putting money in a 401(k) plan, according to the Tax Policy Center’s analysis.
Anything you do repeatly adds up. As I noted the other day, subscribing to the trash pickup when I own my off-grid home might only cost $30 a month but it adds up to over $400 when you include taxes and fees. Good excuse to have fires, burn shit and haul your tin cans to the recycling center when you live in a sticks in a freer state. Indeed, even living in the suburbs now, I haul my own to the town transfer station and recycling center.
I’ve never had internet or television at home. If you think trash pickup is expensive look at the brochures they send to you all the time. On the way to trash, you’ll see they always have an offer for $60 or $80 a month if you willing to piss away $1,000 bucks a way a year, be my guest. I know I’ll never have internet at my off-grid place besides what I have on my phone. I can always plan my internet access around when I’m in town and can stop at a public hot spot for large downloads like YouTube videos.
I do have my basic smartphone subscription but I always buy time one year in advance, plunk down a big wad of cash to save money and get the best deal. It does lock me into the service but I’m happy with it and don’t have to worry about setting aside money each month. Beats paying monthly fees.
I do pay utilities and rent at my current place but when I have my off-grid home I’ll only have a yearly tax payment and propane and gasoline will be purchased on an as needed basis, along with various off-grid products like panels or batteries. I hope to buy land with cash and avoid mortgages all together. I’d save a ton of money that way, just like it did with my truck.
That said, there is one form of monthly expense that I approve of – automatic investing.
I’ve always taken a big chunk of every pay check for either my high interest, FDIC insured online only savings account or low fees index, bond and sector funds. While cable television might make you poorer, investing gets you closer to your long term goals.
With modern technology it’s so easy and, just involves doing a little research, filling out some forms and just acting like the money never was there. This is a really good thing to do after raises and promotions – pretend that most of the money doesn’t even exist.
Noting progress made in job creation, goods consumption and business formation, among other areas, Powell said that now would be the wrong time for policymakers to take their foot off the gas.
Doing so, he said, could "lead to a weak recovery, creating unnecessary hardship for households and businesses" and thwart a rebound that thus far has progressed more quickly than expected.
This was an interesting promoted post I saw on Facebook selling this website. Investing and taking calculated risk and avoiding fees is important to building up savings.