Chapter 9 (Insight Into Investments and Income tax )

dave tells a story of buying new golf clubs and explains how he was being thrifty with his purchase. and realizes after all these years that there is real value to being thrifty. roy tells them about two topics that will be covered investing and income tax. james murray gives a idea that successful investing involves 2 areas one being specialized knowledge and the other an eye for value. the key to the stock market is to buy high and too sell low. and to achieve these two things they remind us that we must have good self discipline. he says in many ways real estate investors always come out ahead. the best investment is too pay of non deductible debt. he also suggests always paying off the highest interest rate debt first. once you get to the point with no debt and have extra money you should spend it. dave thought it was not in his near future to have more money than he cares to spend. now roy goes onto the topic of income tax. he never suggests lowering taxes by tax evasion but only through legal ways. he also suggests getting help from an accountant it certain circumstances. retirement plans and home ownership can help to escape some tax costs while reaching toward a higher financial state. everyone should try filling out there forms themselves and then seek professional advice. he also suggests to read some books to gain additional knowledge.