Welfare King’s Victory Fund members let US
pay their taxes too
A vice chair of the Trump
Victory fundraising committee didn't pay a dime in state income tax
from 2012 through 2014. Like Trump, billionaire Diane Hendricks, has
a history of paying nothing. Trump
claimed he had negative income in 1978 and 1979. How do you get
"negative" income? You deduct ALL your expenses from running many
casinos into debt. Trump has echoed former head of the Helmsley hotel,
“only the little people pay taxes.” Trump
tax returns for recent years have not been released. It is difficult to
determine how much he paid in the years of his
three bankruptcies.
Create tax-FREE income—avoid paying their taxes.
Use your own tax shelter—your broker/advisor
is retiring with his/her
Working people have their own tax shelter—the Roth IRA. The
IRS § 408A is available from any large financial institution. You can
contribute $5,500 a year to buy stocks, bonds, ETFs etc and let the assets grow
tax-FREE. You can take money out FREE (contributions are FREE before 59.5
years; earnings are FREE after 59.5 years). You pay a little tax now (15% on
$3,000 deposit) but NO TAX later (0% on $1 million). You deposit $99,000 total
over 30 years and spend ALL $1,000,000 later. Even when they cut pensions and
Social Security, you will have your million FREE of fed and state tax.
Best investing strategy: Do Nothing—let compounding do the
work
Fidelity study of which accounts did best: people
who forgot their 401k and people
who died. Best investment outcome for stocks long-term is to let the money
work for you by compounding. Compound $9 a day to $900,000 in time. It can’t
compound if you trade. Buffett: own the best businesses in the world over time.
It makes you wealthy. Traders only do well when they can move huge amounts of
capital a short distance quickly. Most of us with brokers/advisors earn just
3.79% vs the market of 11% because we are afraid of loss or get greedy. Unless
you know
the next Amazon ($5,000 invested in Amazon ‘97 worth $1 million today), this is
best deal. No timing, trading, charts, or broker/advisor.
Millennials don’t understand diversification, risk,
long-term
18-35 year olds are saving but don’t think about the “not
all your eggs in one basket” problem. Survey says 49% reported having an
“aggressive” risk tolerance and yet 65% said market swings make them
uncomfortable. 72% said that a portfolio was adequately diversified as long as
it includes a broad range of stocks. “These folks think a long-term holding is
five years” according to Bill Finnegan, AMG Funds. Perhaps young people have
not gone through the depressions and recessions to learn.
What can you do when your 401k offers only high-cost options?
Employers are being sued for breaches
of fiduciary duties such as offering only high-fee investment options in a
plan. Employees are not taking poor outcomes anymore. It may take time to wade
through the legal process as more plans erect barriers to complaints but your
pension is at stake. Companies can set up whatever plan they want under ERISA.
Often they put unfair costs on employees. Employers have time and money on
their side so it may be easier and more beneficial to just move your 401k to a
self-directed IRA.
More seniors working past 70
Some 23%
of Americans with jobs said they planned on being septuagenarian employees,
up from 16% in 2009, according to WTW. However, most do it from need. Employees
who expected to work longer were "less healthy, more stressed and more
likely to feel stuck in their jobs than those who expect to retire
earlier." 40% of those planning to work into their 70s feel stuck in their
jobs. Employees are more pessimistic about whether their generation will be
"much worse off in retirement" compared with their parents'
generation. Old age labor force participation over the past five years has
increased in UK ,
Canada , and South
Korea , jumping to 42%.
Invest $9 a day with the best Investment Attitude to
retire earlier: http://www.amazon.com/Investment-Attitude-biases-that-being/dp/1533424519
Do you need estate planning?
Estate tax starts at $5.43 million in assets each spouse.
There are tons of
ways to avoid paying. If you have that kind of problem there are many
lawyers who can fix it. Few if any family farm has been lost
to estate taxes as the GOP claims. A little planning goes a long way for
anyone with illiquid assets. For those who don’t plan, I vote we keep these
taxes to offset the taxes they probably evaded before passing. You many not
need the expense of a trust or life insurance (to pay the tax). You can leave
your money NOW as gifts to the kids and grandkids each year. You can make it
tax-FREE forever for them. You can pay for their educations. You can leave
property, money or unused annuity to a not for profit. Make your own foundation
to keep giving to your favorite cause.
Do you really need mobile apps for your wealth portfolio?
Every wealth management firm in town is now trying to impress
their high net worth clients by giving
them access to their accounts by smartphone. But do wealthy people really
need to use an app if they have a good advisor? Do you really need to track
your wealth while you drive? Do you execute trades all day and night from home,
office or the road? Why bother paying a
broker if you are going to monitor or trade yourself by smart phone?
RoboAdvisors offer those who can’t afford an advisor the feeling of having an
advisor. 80% of “personal” portfolios are the same mix of assets. Do want personal advice or just someone to
hold your hand when you lose. Managing assets is NOT like balancing your
checkbook online. If your strategy is long-term capital preservation, checking
your asset accounts more than once a year can lead to market timing and
underperformance. As Buffett says, “only buy something that you'd be perfectly
happy to hold if the market shut down for 10 years.” The average brokered
account earned just 3.69% due to fees, timing, taxes and impulse buying.
GOP driving America
to dictatorship and state religion
McCain, Ryan, McConnell, Rubio have all sold their souls to
the dark side of politics.
TX county sheriff’s
cars with Christian symbols: state sanctioned it. Ryan says Don’s statement
is racist but backs him. GOP leadership bows to Don’s popularity just as Hindenburg’s
officials gave legitimacy to Hitler.
What does
Trump’s National Socialism stand for?
Reinstate older
white male value system: Make ‘WASP” America Great Again
Reinstate Christianity as the state
religion—bar
all others from public office
Reinstate Christmas and Christian
observance in schools, home, court, etc
Put up a wall, end trade, bring
back repetitive “robotic” jobs back from low wage areas.
Cut regulation of all business activity, lower
wages for women, pregnancy
Increase
subsidies to oil gas, corp farmers, Boeing, big business
Cut federal spending on health especially when
control women clinics
Don
will cut Medicare and SS benefits “if tax cuts don’t make big surpluses”
Cancel immigration for all from non-EU countries. Deport
them
Replace judges whose parents
came from a non-EU country or any non-Christians.
Cut funding for un-wealthy,
poor, schools. seniors, underemployed, kids,
etc.
Increase debt and devalue debt. Let Mexico
pay for the Wall
Create tariffs on imports
so we pay $6,000 more for stuff we buy. Middle class tax.
Trade pacts are no good for us and no good for our workers.
Abolish IRS, EPA, Education, Dodd-Frank
financial protections
National right to buy and carry any firearms anywhere
anytime by anyone age 2 and up.
Install state gov that cuts
Medicaid, education, federal support payments, infrastructure.
“Lust
for executive power”—GOP House leader thinks Don wants to just snap
fingers.
“I
could stand in Fifth Avenue and shoot somebody and I wouldn’t lose any
voters.”
“The only thing necessary for the triumph of evil is for
good men to do nothing.” E Burke
Don: I may have exaggerated
Hill’s views on guns. I don’t really study too much.
My one “African-Am
supporter” was at Bernie Sanders rally the night before.
Even
McCain, who I said was not
war hero will support
me. I take GOP dark.
No 2 man
Christie silent on my judge problem—named Muslim
judge in Passaic.
I am
not a racist: “my comments have been misconstrued” Some of
best friends…
I used to
be for
climate change controls, abortion, etc but …deal I couldn’t refuse.
I
refuse to pay bills when I don’t like the work or it took too long or
whatever.
Hill: I want Bern ’s
supporters so ask Liz or Bern VP? or go long with Kasick for VP?
What is the
point of an endorsement? I don’t think we’ve had a clearer choice.
Don’s
agenda is not America ’s
future.
I may not
have worked as hard as Bernie but I DESERVE to be prez.
Paul: ‘This is one of my big concerns:’ Don’s
“lust for executive power.” He’s OK now?
Don’s statement “is definition
of a racist” but GOP has to go to dark side now.
He said he
could kill people on 5th Ave
and not lose support—He’s right! Scary
Regulators are the only protection we have since we
can’t sue anymore
“It is nearly
impossible for one individual to take on a corporation with vast resources.”
(GOP bill requires impossible: every person in class
action suffer “same type and scope of injury”)
Supremes
stop us from suing—State courts no longer available to sue corporations!
.Karen Bruton Hope Advisors caught “scheming
to collect extra fees” from wealthy
.Intercept Corp, Bryan Smith, Craig Dresser caught
with illegal account withdrawals.
.Oppenheimer caught
selling risky funds to risk-averse customers again
.MorganStanley caught
leaving door open--security lapse on customer data
.VW supervisors moved to destroy
evidence of diesel cheating in 2015. Clearly knew
.Admiral caught
taking kickbacks and sex from vendors of ship supplies
.2nd Amend: “regulated militia” gun—the long
rifle—not hidden
gangsta gun.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
SCAMS
Ignoramus Award: Our
Fed approved
4 cyber thieve requests to send $81 million from a Bangladesh Bank account
to them even after the thieves’ initial request had been denied.
MorganStanley, a traditional
broker will sell ETFs--INDEX funds but at what price?
7 cars people regret buying—Chevy,
BMW, Buick, Nissan, etc
20 more to avoid at all cost: Caddy,
500, Fiesta, all unreliable in extreme!
Cell phone kills 2 men on road and gets only misdemeanor
charge.
How our government wastes our money
Zika protection funding denied by Congress so more
babies
born need costly treatments. House GOP bill for HALF & exempt pesticide
manufacturers from the Clean Water Act. Nothing for FL PR now!
Scientists on grant say archerfish
can distinguish human faces
$1.6
Billion to Iraq army and still can’t protect their home.
Obama
ups commitment to Afghans—reverse the disengagement—copy USSRs war
Who owns your account now?
John Oliver just bought
$15 million medical debt and cancelled it. Who
pays the taxes?
IAN
41 Watchung Plaza, B242
973.746.2014
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