NT / My client's investing tip

[RitaB]

My client just informed me that a girl at the bank is selling a Money Market Fund that is making 8.9% There is only a 5.75% front-end fee, and it is ultra safe. They are chucking their pathetic Vanguard Fund, management fee less than 1/2 of 1%, to get in on this opportunity.

Yeah, I'm gonna run right down there. Thanks for the heads up.

I started to say, "Pigs get fed, hogs get slaughtered" but I was afraid they would run down to the stock barn, and then I would have a Schedule F to deal with next year.

[Burke]

And mine are jumping into every energy partnership that comes along -- trying to increase their rate of return. Of course, all these produce K-1's with DP activities and intangible drilling costs and depletion, etc, all of which drive up the cost of processing them on the tax return. I wonder if it is really helping any. Most investments are $10K or less. After tax season, I am going to analyze.

[RitaB]

These people

These people are so greedy it's not funny. Told me they spent $12,000 in sales tax for 2010. Oh, really? That works out to be $123,077 in purchases. Your income was $80,000, so you spent $43,000 in gifts and savings?

Uh, uh. No.

Their Vanguard fund did just fine. They are idiots.

[JohnH]

Yeah, but at least they're smart enough to pick a good tax preparer.

(At least until someone offers them a 40% rebate on a fee that's double yours. Then you might have a problem).

[Burke]

Told me they spent $12,000 in sales tax for 2010. Oh, really? That works out to be $123,077 in purchases. Your income was $80,000, so you spent $43,000 in gifts and savings?Uh, uh. No.

Nah, credit card. Right. Musta been that Porsche.