Zero 2 Rich

Investing to One Million Dollars or Bust!

Google

My google payment came today. It was a little over $1000. I decided to invest some of it. I might invest some more after I find out how much is left after bills. With my wife only working part time these day, we don’t have as much money coming in.
Anyway, I have been wanting to invest in Latin America for a while. I think that there is a huge potential for growth down there. I had wanted to invest some money down there before, but with the brokerage I use, I was limited to individual countries. I don’t know enough about individual countries down there. I wanted to invest in Latin America as a whole. I ended up buying a bunch of EEM, and emerging markets fund that has been very good for me.
I found an index fund that is a S&P Latin America 40 index fund. Great! So I can get exposure to Latin America in an index fund. This fund has had even better returns than the EEM emerging markets fund that has been so good to me. So I investes $300 in ILF. I will probably buy some more in the upcoming months. I get two free trades a month, and I want to make sure I use them!

I was interested in buying a Latin America index fund a year or two ago, but there didn’t seem to be one available in ETF form through my broker at that time. I just checked, and they have one now. It is through iShares and is S&P Latin America 40 Index Fund (ILF). They are returned almost 30% a year over the last 5 years. Now that is a great return! And I believe that Latin America will continue to grow. I am expecting a payment from Google anytime now. I will probably buy some ILF at that time. I still have one more free trade left for this month.

I have been looking forward to this, and it happened! My 401k plan topped $300,000!!!!
It had been getting close, then the market dropped heavily. But then the market crept slowly upward, and I surpassed $300k!
I guess the next target I would like to see would be maybe $333,333. Then I would have a 1/3 of a million dollars!
After that, maybe $400k.
The more money you have invested, the more money you earn. It’s because of compounding. I have all that money working for me! Someone might take 23 years to build their first million dollars, but the second million might take only 7 years.
If you don’t contribute to a 401k, I urge you to start, and keep increasing your contributions until you are maxed out. A 401k is the best vehicle for ordinary people to become wealthy!


401k:

Name Value
AF GROWTH FUND AMER $73,728.96
DREYFUS MID CAP INDEX $75,250.16
DREYFUS SM CAP STK $74,387.78
SPARTAN INTL INDEX $80,701.87
Total $304,068.77

See listings at Yahoo Finance

We only got our tax return back from our CPA yesterday (Sunday). We didn’t owe any Federal taxes, in fact we are getting a refund. But we do owe New York state income tax. But we were headed to Niagara Falls on the Canada side to celebrate our 13th wedding anniversary later that day. Our accountant always recommends that we mail our tax returns via certified mail with return receipt requested. We could have mailed it Yesterday at one of the automated postal centers, but we couldn’t done it certified or with return receipt requested. At least I don’t think we could.
So today we woke up in our Canadian hotel. We got dressed, and got out car from the valet. I had intended to lookup up the nearest post office on the American side on the internet. But seeing that our hotel charges $20 a day for wi-fi, I decided not to use it. I knew of a used book store over in Niagara Falls, NY called Book Center. My wife and drove there, and looked for books. This is one of my favorite used book stores, but I didn’t find a lot today. I did buy one book. I asked the guy if he knew of a nearby post office. It turned out the nearest post office was right out their back door.
We walked over to the USPS office. There were no other customers. This close to the deadline to mail taxes I was expecting lines, and a long wait. I grabbed a certified mail slip, and a return receipt slip, and filled them out. We were in and out after mail our tax return. How painless! It was kind of funny crossing back into Canada again. When the guy asked us why we were in the US, and I answered to mail our taxes. He waved us right through. I was relatively painless!

My wife and I drove up, and got our tax return from our CPA. This was the first time my wife actually met our accountant. He is working today (Sunday), because tax day is in a couple days.
We don’t have to pay any federal taxes this year, in fact we get a refund. And we wont have to pay any estimated federal taxes this year either. They are such a pain in the butt!
We do have to pay New York State taxes though. But that is only about $280. And we found out that we don’t have to pay any NY state estimated taxes this year either! It will be nice not having to remember to pay them, and come up with an extra $1000 every three months!
Now paying the state taxes is going to be tricky. We are going to Canada later today. Just across the border in Niagara Falls. We could mail the taxes today via one of the automated postal machines. And we could get a delivery confirmation. But normally what our CPA suggests is to mail the tax payment certified mail, with return receipt requested. So probably tomorrow we will need to drive back across the border into the US, mail our tax payment, and then drive back to Canada. Such fun! Hopefully the border crossing wont be too busy.

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