Wrong side of the tracks

[skieur]

From what I hear, most of us were probably born on the wrong side of the tracks.

Some think they count because they have a gold or platinum credit card but the one that really counts is the BLACK card. Limit starts at half a million dollars and goes upward. Almost anything can be purchased with such a card and for some, debt is certainly NO problem.

Those with a few thousand to invest probably put it into bonds with a 3% or less return or into mutual funds with slightly more but with lots of volatility. Those with a minimum of a million or so get into "private banking" where the return for 2010 could be 8% plus dividends at an additional 2% for a total of 10%. Beyond that is another, higher level of investing that includes property, sports teams, highways, etc. where the return could be closer to 15% or more.

As the saying goes: "The rich get richer"......and the rest of us, get taxed.

skieur