Is your tax refund worth $500,000?
Yes it is if you invest it in the most consistent investment
of your lifetime. For most periods over 15 years, a low-cost stock market index
fund has produced 10-12%. You can accumulate $500,000
in 27 years from your tax refunds which average $3,000. “Use a low-cost
index fund” is Warren
Buffett’s advice because you avoid wasting $300,000 on commissions, fees and
loads over time and you receive the benefits of compounding high earnings,
interest and dividends. If you use your IRS-approved tax-FREE account, you let
Uncle Sam help you have more because you pay no tax on your earnings.
Since you don’t try to time the market or buy the next HOT stock, you realize
Buffett’s strategy: “We
make more money from snoring than when active.”
Where is your refund?
Is your $3,000 on its way? Does the state owe you money too?
Check with the IRS: http://www.irs.gov/Refunds
Your state may have a portal like NY: https://www8.tax.ny.gov/PRIS/prisStart
or
Start your Tax-FREE Wealth Reserve NOW: http://www.amazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/dp/1460945484
Are all Americans paying their fair share?
Why do the rich stop paying FICA 6.2%
tax on income over $118,500?
How can Apple pay 9% income tax while the US
rate is 34% on earnings over
$114,000?
The Supremes decided that corporations
are people yet 2/3rds don’t pay any tax.
Why do wealthy people pay less than the investment earnings
tax of 15 or 20%? Romney paid just 14%
in 2011. Kerry
paid 13%. They don’t have wages
so they don’t pay FICA, Medicare, state, local, and all the other things that
come out of a worker’s check. They don’t have to take money out of their check
for retirement or college funds, insurance co-pays, union dues, unemployment,
disability, family leave insurance, etc etc. Buffett says the average family
pays about 32% every
check.
In fact, if the working rich paid FICA, "the Social
Security system would be solvent indefinitely and the rich still would be the
richest …." http://www.latimes.com/...
Pay your fair share: http://www.amazon.com/Tax-Shelter-Americans/dp/1500426520
IRS gave nearly $3
billion in erroneous business tax credits
In 2013 corporations that should not have qualified for the
breaks, got them. We taxpayers paid the expense. IRS said it can’t assure
errors are corrected. It receives $1 billion less than it was five years
ago. GOP Congress saved $1billion but “lost” $3billion.
Bad brokers/advisors just move on when they hurt clients
They aren’t jailed or banned. When they manage large assets,
another firm will hire them so they can screw new clients. Tom Buck, an Indiana
broker was fired by Merrill because he provided inaccurate information and
misreported information to a client. Buck was hired by RBC next day. RBC
spokeswoman Nicole Garrison said, "We take special care to ensure that
each advisor shares these same values.” Time to manage your own account? Are
your 401k plan fees high? http://www.brightscope.com/
Avoid Wall Street lies: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137
How can you make your life easier in retirement? Are you ready
for retirement?
Experience is a great teacher but we don’t get a second chance.
Experts in planning for retirement have these tips to succeed. 1. Social Security early?—you lose 25% of
your benefits for the rest of your life. $11,700 average reduced benefit for 30
years means $350,000 instead of $468,000 in today’s value. 2. Die early?—estimate your lifespan at http://www.socialsecurity.gov/cgi-bin/longevity.cgi
3. Emergency expenses?—costs over
Medicare average $120,000. 4. Pensions,
IRA, accounts everywhere?—one low-cost mutual fund firm (Vanguard, Schwab, etc)
cuts accounting bill. 5. Get Medicare
anytime?—miss Medicare deadline can cost 20% more each year: http://www.medicare.gov/eligibilitypremiumcalc/
Know what your income will be: http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522
Survey says most investors use the “gut” strategy
Fifty-seven percent of respondents said they had no
financial goals, 67 percent had no financial plans and 77 percent said they
relied on gut feelings to make investment decisions. The DALBAR study shows
the average investor return was 3.69% not the market
return of 11.11% over the last 30 years because they have no strategy. They
jump in at the top and sell when the market falls.
Use the Buffett strategy: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900
Is your vehicle on the worst cars list—mechanics love you!
You don’t get what you pay for in
vehicles. Pricy Land
Cost matters just as it does in financial services.
Value is Quality at the right Price: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
Car thieves have new way to take your car wirelessly
Now keyless entry cars can be opened with $100 gizmo—back to
real keys?
GOP crazies
GOP-FoxNews received a straight answer to why
Rubio/Cruz lose Latin vote: “it’s immigration,” Jorge Ramos told Hannity. “It’s
a very simple concept, Sean — people won’t vote for a candidate who will deport
your father, your friends, your colleagues, and your students.” And why would a
sane person vote to outlaw their $100 per month health coverage especially if
they have an existing condition? And would a senior really vote to limit Social
Security and Medicare? And do Americans really agree it is OK to discriminate
against you when a business owner says the Bible
tells him to not serve you? What about stoning women
to death? Cursing
brings death too?
KS GOP wants limited government for wealthy but NOT for the
poor?
Legislators say they want smaller government but not for
certain groups. Law says “List of
items you can’t buy because you only make $7.25.” NO movies, tattoos,
lingerie, and several dozen items. Guns
are OK.
GOP gives their backers a tax break AGAIN!
The millionaire
club called the House of [their] “Representatives” voted to ban the IRS
from following the law on gift taxes for their political contributions.
Billionaires are smiling all over the world. “Americans who donate to
tax-exempt organizations should always be treated fairly and equally by the IRS”
according to the Republican chairman of the House Ways
and Means Oversight Subcommittee. Now foreign governments and rulers can funnel
their money thru PACs and join the wealthy in electing their stooges.
… “and the pursuit of happiness” for wealthy and
corporations.
GOP candidate for President already decided by $1 billion
Koch Bros: Walker
The Koch brothers plan on spending close to $1 billion in 2016 cycle and their favorite is
Scott Walker. They use the Freedom Partners network included Americans for
Prosperity and funded groups such as Concerned Veterans for America ,
the Libre Initiative and Generation Opportunity to hide their donations.
Walk-with-Walker: “In terms of legal immigration, [it is] based
on, first and foremost, on protecting
American workers and American wages.” But didn’t he bust all unions in WI?
GOP Christie thinks NJ voters are stupid!
What kind of President will Christie make?
Fmr GOP presidential candidate says Obama bringing Rapture
Michele Bachmann says the rapture is coming, thanks to
President Barack Obama’s policies on Iran ’s
nuclear program and marriage equality. “We need to realize how close this clock
is getting to the midnight hour.” “We
in our lifetimes potentially could see Jesus Christ returning to earth and the rapture of the church,”
Bachmann said. “We see the destruction, but this was a destruction that was
foretold.”
DEM crazies
Media personalities don’t walk the talk: condemn tax evasion
but are above the law themselves. Reports say that Rev Al has a tax
bill of $4.5 million. Lesser amounts for Melissa
Harris-Perry, Joy Reid, Touré Neblett. It comes down to keeping records—if
you don’t; you can’t. As one of them said: “taxes are how we all do our part” unless
we don’t. The wealthy of every persuasion seem to see it differently.
Employers see health costs slowed! GOP warnings were wrong
Health care in the U.S.
is a hot button issue but the early consensus is that the Affordable Care Act
has been integrated well by employers. “One of the big concerns [about the ACA]
is this is going to drive up our
premiums and the cost of healthcare,” says Christopher Ryan, vice
president, Strategic Advisory Services at ADP. But, he adds, this has not
materialized as originally thought. “I give credit to business,” he adds, “I
think business looked very carefully at their current practices and … has been
well managed.”
Is a reverse mortgage right for you?
You might consider this expensive loan if you find your
retirement costs greater than your income. Receiving a monthly payment from
your bank sounds good but consider
the challenges. If you take this loan early in retirement, the payments lose
their buying power (HALF value in 25 years) and you might have trouble paying
property taxes, insurance, maintenance, etc. Loans accrue interest so you may
reach the end of the loan. Loan costs are high (even though insured by US) and
even higher if you take a lump sum and not payments over a lifetime. Alternatives:
refinance to free up money and keep asset growing; take a low-cost home equity
loan; trade down and keep cash; rent to boarders/corporate suites; sell home as
investment to your family. See:
Do you need long-term care insurance?
The share of the older population residing in skilled nursing
facilities declined from 4.5 percent in 2000 to 3.1 percent in 2010. The
share in other long-term care facilities, such as assisted living, has been
growing. • Medicaid funds for long-term care have been shifting away from
nursing homes with funding for home- and community-based services increasing
from 13 percent of total funding in 1990 to 43 percent in 2007. Medicaid
currently accounts for 40 percent of all spending on long-term care. GE
recently took a loss on this business and may exit
as others have.
What retirement plan?
Many expect to “work till they drop.” But what if you can’t
because of disability or unemployment? A new report shows that while workers
SAY they will work longer, the actual median retirement age has been stuck
at 62 since 1991. 57 percent say they have less
than $25,000—about 1 year worth. Many say they can add $25 a month to their
nest egg but don’t. Automatic investment plans may be the answer. We could have
our Tax-FREE IRA trustee debit our checking every month and end up with
$250,000 without working longer.
Americans’ attitudes toward redistribution of wealth are
more complex
Americans’ desire
to soak the rich has diminished even as the rich have more wealth available
that could, theoretically, be soaked. Our political persuasion tilts how we
feel about tax redistribution. Older voters already have “social medicine” and
so were afraid they would lose it with ObamaCare. However, GOP lost voters when
they talked of cutting Medicare. Americans have hope they will be better off so
why support taxes they may have to pay. Few know that the wealthy never pay the
higher 35% rate.
Will high
salary for all employees make a better company?
The minimum wage at Gravity Payments, a credit card processing company, was raised to a hefty $70,000 a year for everyone by the CEO, who cut his $1 million salary. There are only 120 employees and most are pros at their digital work. Highly motivated employees can create a great business according to observers. Rush Limbaugh, overpaid commentator losing sponsors, proclaimed: “pure, unadulterated socialism, which has never worked.” Warren Buffett’s staff would disagree. https://www.youtube.com/watch?v=zB1FXvYvcaI
The minimum wage at Gravity Payments, a credit card processing company, was raised to a hefty $70,000 a year for everyone by the CEO, who cut his $1 million salary. There are only 120 employees and most are pros at their digital work. Highly motivated employees can create a great business according to observers. Rush Limbaugh, overpaid commentator losing sponsors, proclaimed: “pure, unadulterated socialism, which has never worked.” Warren Buffett’s staff would disagree. https://www.youtube.com/watch?v=zB1FXvYvcaI
Is a safe-deposit box worth it?
You pay your $100 a year in case of fires and natural
disasters. But safe-deposit boxes can’t be opened by your loved ones when
something happens to you. Power of attorney, organ donation, funeral
instructions and a will need to be ready immediately. And don't expect the
bank's insurance policies to cover your belongings. No FDIC either. Valuables
could be hidden in plain sight. Are they insurable? Store copies of documents
with relatives in emails to them—“Open in case of emergency” files.
SCAMS Why
are we still paying $700 Billion a year for
WWII deployments? That is 27
cents of each dollar in taxes—the largest part of our money—and we
aren’t even at war. We could pay off our debts and fix our schools,
roads and bridges!
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures every
year. We have wasted $398.6 billion so far on the
F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S. Korea can pay to defend
themselves.
The War
on Terror requires SEALS’ attacks on top terrorists at their
homes. Iraq proved
converting a nation to Western-style republic doesn’t work. The troops we
trained ran away. We are wasting
$4 billion a year on Afgan
tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our
money.
Fed identifies banks that could cause financial meltdown
Most
banks do not have large ‘gambling’ departments and don’t need regulators to
watch them closely. Only a few banks have trading assets or liabilities, derivatives positions--interest-rate swaps and foreign exchange derivatives. Roughly 6,100 of the more than 6,500
commercial banks would pass this test, according to the F.D.I.C. Of the
remaining 400 that would not, many are behemoths: 310 of them have more than
$250 million in assets. Regulators can watch 400 easier than 6,500. Common
sense, right? Not yet. Lobbyists want no regulation on any.
The
Everyone
is arming to the teeth with American weapons and equipment as the Congress
declines to declare war. Saudi Arabia
spent more than $80 billion on weaponry last year. The Emirates spent nearly
$23 billion last year, more than three times what they spent in 2006. Proxy
wars in the Middle East
could last for years, which will make countries in the region even more eager
for the F-35 fighter jet, considered to be the jewel of America
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