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Who Are The One Per Cent

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YOU ARE! Studies show that if you earn over $34,000 a year you are in the 1% of the world income earners. In fact. according to a book by Morgen Housel, if you make $70k, you are in the top 1/10% of the world. And if you make $307,000 - you are in the 1% of the U.S. In 2010 just over one million households were in the top 1%, including doctors, celebrities (Tiger Woods, Peyton Manning, LeBron James, Matt Damon, Julia Roberts, Taylor Swift, Bruce Springsteen and Beyoncé.) . According to Forbes, the average salary for players in the National Basketball Association is more than $5 million, in Major League Baseball more than $3 million, and in the National Football League more than $2 million. The minimum salary in all three leagues is sufficient to place every player in the top 1%. Even coaches such as Coach K and Nick Saban make $2M; and the 1% paid nearly 40% of the $900 B in income tax in 2010, while 50% of the U.S. paid none.

One shock jock complains that there are indeed two Americas - not the Haves and Have-Nots, bit Do's and Do Nots. Income inequality isn't all that bad - his doctor makes much more than he, but spent more time and money to achieve that status. Its all about choices and consequences!

Maybe others need to work harder and study more, rather than moan and groan. Maybe smarter investing can help: there are two investment meetups this week in the S.F. Bay Area, starting Wednesday:

The San Francisco Investor's Business Daily Meetup Group Monthly Meetup

The San Francisco Investor's Business Daily Meetup Group

Wednesday, February 19, 2014
7:00 PM

live webinar
view on your computer
san francisco , CA

Members only, or go to the IBD website for software download info.

****************************************************************************

On Saturday, the S.F. Option Group is having its monthly meeting:

Saturday February 22, 2014, from 9:00 AM to Noon
Room C-235, Fort Mason Center, San Francisco

Agenda:

1. Recap Group Charter - Ray Douglas

2. Self Introduction - Members & Guests

3. Trading Plans for Various Strategies – Ray Douglas

4. Break

5. Long-Term Option Strategy: Selling both Puts and Calls – Brent Leonard

6. Trades of the Month – Members & Guests (Bring your trades to share)

As noted, I shall be holding forth (or fifth) discussing my latest LEAP strategy, defined and with latest updates, including a couple 100%ers. They say the easiest way to double your money is to fold it and put it back in your pocket, but a couple trades I made hope to achieve that almost as easily!!

I'll be reviewing the trades I showcased in my blog:

http://ditmcalls.blogspot.com/

Unfortunately, those trains have left the station, or in the case of YRCW, the Truck left the yard.

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