Increase Your Wealth in a Down Economy
In 2008, hard working American’s employed by major corporations across many industries, state and city agencies, and brick and mortar retailers began to feel the strain of our country's failing economy and were rightfully fearful of losing their jobs and their hard earned retirement and savings.
Today, an even greater number of people continue to be affected in a big way, both personally and indirectly, by the financial actions of large and small companies: mass layoffs, cutting employee hours, eliminating or reducing health care benefits, and reducing or withdrawing 401(k) plans completely.
Naturally, experienced, skilled workers are considering the likelihood of their employer being able to fulfill all of the financial needs in the future in order to maintain a reasonable lifestyle for themselves and their families. In the back of many minds is how to uphold the basic necessities of life when jobs are constantly in jeopardy. More than ever before, alternatives or supplements to the weekly salary and 401(k) plan are crucial to building the proverbial nest egg for survival in the later years.
“Creating a more disciplined focus on developing and sustaining a solid financial plan despite our current global economic and financial crises is what many American’s are moving toward,” says Kyle Driver, CPA, investor, and founder of Drivers, Tu, Williams, Inc, a full service CPA and wealth building firm located in Long Beach, CA. “To this end, we’re seeing more entrepreneurs investing in real estate, in their own endeavors, and people coming together to invest in each other to create opportunities for wealth. With effort, they will undoubtedly examine investment opportunities which only a privileged few been informed of in the past.”
Research has shown that the majority of millionaires around the country have at some point, invested in rental real estate as an active wealth building strategy. Others invest in people with good ideas, good management, and the right business environment. With good financing, adequate cash reserves, and effective management these opportunities provide an ever increasing monthly cash flow and a significant increase in equity value over time.
Driver notes, “We have savvy, informed, entrepreneurial business investors using their cash reserve and pulling together with other individuals to invest in private businesses. We help them know their income deriving potential through evaluating their current financial and tax circumstances. Some of the private businesses utilize a corporate structure as one way to gain greater access to wealth.
Complying with all income tax filing requirements and laws is essential to successfully investing in private companies and rental real estate; it is also a basic requirement for all employees. Planning for and realizing all opportunities for available deductions, exemptions and tax credits is a financial activity which, annually, can make a tremendous difference in the short and long term.
As the economy recovers, solid investments, including well managed private companies and rental real estate, will develop and grow. Over time they will flourish.
ABOUT KYLE DRIVER: Kyle Driver is a graduate of Harvard University who uses his extensive experience as a CPA and private investor to help individuals build wealth through cooperative endeavors.
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If you would like more information about Drivers, Tu, Williams, Inc. please contact: Driver0080@Charter.net or you may call 562-544-7330.
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