Jeff Yastine: The Significance Of Kennedy Accounts
Jeff Yastine has been a financial journalist for his entire career. He currently works for Banyan Hill Publishing Company however you may know him from his work at PBS on The Nightly Business Report where he received an Emmy nomination for his work. Jeff Yastine has built up a wealth of knowledge throughout his career and investigative financial journalism and has recently created a viral video where he speaks about an investment opportunity that he refers to as Kennedy Accounts. While the term Kennedy Accounts is a unique term invented by Jeff Yastine himself the investments that they refer to are very real. Visit Kennedy Accounts to know more.
Kennedy Accounts refer to an investment opportunity that was first introduced into the American economy under the administration of John F. Kennedy. At the time the American economy was experiencing difficulties with a flat GDP, climbing unemployment, and a declining stock market. Kennedy realized that in order to stimulate the American economy he must increase the engagement of average American investor’s in the stock market. In order to accomplish this goal, Kennedy created a new tax code that included IRS code 852. IRS code 852 allows individuals to purchase stocks directly through companies instead of using a broker via Direct Stock Purchase Plans also known as DSPP.
Today there are 449 companies that are qualified to issue Direct Stock Purchase Plans. These have not been popularized by Wall Street due to the fact that Wall Street is cut out of the picture whenever an individual purchases stocks utilizing a direct stock purchase plan. There are several benefits that come from buying stock directly from the corporation instead of using a broker as is typical in the stock market. First by eliminating the middleman that a broker represents you also eliminate the fees that are paid out in the form of commissions to stockbrokers. There is also an additional benefit that comes from using a DSPP. In many cases, a company will actually sell their stock at a discount if an individual purchases stocks directly from them. Companies have been known to sell their stocks at up to a 5% discount off of the regular market value. In combination with the lack of commission fees, it is obvious that investing through Direct Stock Purchase Plans represents an incredible way to generate substantially larger returns than conventional stock market investment. These have been hidden from the American population as Wall Street has prohibited companies from even advertising their existence. Read this article at Medium.com.