bluecollardollar: your financial knowledge

a trusted source of investing, retirement and financial information since 1998

on the radio with Paul Petillo

Join Paul Petillo, Dave Kittredge and Dave Ng every week on Financial Impact Factor Radio as they to discuss everything from retirement to insurance, investing to estate planning, from getting started to preparing to stop.

books by Paul Petillo

I just published my fifth book - this time with Smashwords! ReBuilding Wealth in a Paycheck-to-Paycheck World by Paul Petillo, copyright 2011 This ebook is available across all platforms including iPad and iPhone, Amazon and Sony.

on personal finance

In the world of personal finance, asking what's the worst that could happen is not the same as asking: "will I be able to afford this?" or "have I saved enough for retirement?"
More personal finance

on retirement

The Who, What, When, Where and Why of Retirement

If things are good, for some they won't be good enough. If it turns out that things are not so good, someone will ultimately benefit for this off-chance negativity.
More on retirement planning

on mortgages

American dream or not, the games you may have once played with financing your home are not available for the vast majority of homeowners.
More on mortgages and homes

on insurance

Insurance : Life, Health, Auto, Home

Is the insurance industry the next victim of the financial crisis?
Health Channel

on investing

The mutual fund investor has a great many more options available to them in the post-Great Recession marketplace. The question is: are they right for you as you make a retirement plan using 401(k)s or IRAs?
More on investing

on twitter @PaulPetillo

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your financial knowledge

"A man's errors are his portals of discovery" James Joyce

Personal Financial Literacy Quiz: Answers

2. Which of the following is true about sales taxes?

a.) The national sales tax percentage rate is 6%.
b.) The federal government will deduct it from your paycheck.
c.) You don't have to pay the tax if your income is very low.
d.) It makes things more expensive for you to buy.
We do not have a national sales tax and if we did, it would be levied against purchases, not taken from our income earnings. Sales tax often have a greater effect on lower wage earners.
But the bottom line: it makes things more expensive to buy. But, if those who collect these taxes use them wisely - and few municipalities do, the overall tax rate on properties and even some income taxes should remain low.

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