How much has YOUR retirement plan stolen from you?
The people who work for non-profit institutions often have
the WORST
retirement plans.
In fact, millions of people—teachers,
clergy, nonprofit and charity employees who have NO say in their 403(b)
plans—may be losing $10 billion each and every year to middlemen who do little to
help them, according to Aon.
Over your lifetime of saving—and teachers are some of the best savers—your fees
will erode 63 percent of what you would have had. Fees go to sales people you
have never even met. In short, because of the financial products forced on you
by your employer, you may end up with $100,000
instead of $150,000. Your union and your employer actually went along with
this HUGE rip-off knowing (kickbacks) the plan options you had to take were not
the best. There is no oversight of the insurers and mutual fund firms that take
fees up to 2.5% instead of the normal
0.5%. 403b plans are their “cash cow.” These firms know you know nothing
about investing, so they throw hundreds of costly options into your plan in the
name of choice. Worse, some public employees will not receive Social Security. Most
honest advisors use index funds or ETF for unsophisticated retirement savers. And
the rip will go on since the new Fiduciary Rule (client’s interests first) does
not cover the 403b.
Make your own low-cost pension plan: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285
Is a market index mutual fund right for you?
What criterion do you use to decide about your advisor’s
recommendations? Do you try to understand why that security is picked? Can your
advisor tell you why this one will help you reach your goals in what time
period? What are the alternatives that might entail less risk? Index funds and
ETFs (commissioned index) replicate a market return if they have low fees. Cost
is the best predictor of your investment success. So that is the first
question I ask. You need to know about the history of a security/company you
buy. No investment product is perfect so you may be safer with an index that
contains 500 companies not 1. Broad market indexes are popular because you’re
buying many firms. This protects you from one firm or sector failure. Stocks
have higher returns when you hold them for over 15 years so for that part of
your investments, they are right for you. If you need another part of your money
to be there when you need it in less than 15 years, a low-cost balanced fund
with bonds can provide 9% a year. http://www.saferchild.org/power/
Vanguard’s best funds have provided over 11% over time: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
How much can you invest in your retirement account in 2017?
IRS just announced the new 2017 limits in https://www.irs.gov/pub/irs-drop/n-16-62.pdf.
For IRA and Roth IRA contributions, it remains $5,500. For 401k, 403b, 457 and
TSP it remains $18,000. A deductible IRA cuts off at AGI of $196,000 if you
have no plan at work. It is $119,000 for marrieds who have a plan at work and
$72,000 for singles. For those of you in company pensions using 430c2d excess
employee compensation you have a special election up to $1,115,000. If you
already have a healthy IRA, you can convert any part of it to a Roth IRA making
it a tax-FREE shelter for the rest of your life and your heirs. This can be
your family legacy plan at no extra cost too.
Tax-FREE income: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977
Your vote counts? Lobbyists guide government decisions no
matter how you vote
When a large corporation has a problem with the government,
who do you think they call to fix it? They call their lobbyist
like Teneo. They pay our former President, congress person or Speaker of
the House to go talk to their friends who still collect measly ($100k) government
paychecks. They take them to lunch or pay for this or that. Voilà the decision comes down that
fixes the problem. What Teneo and others are selling is access. Corporations
buy “juice”; influence and it is a deductible expense to them. “The ability to
bring business and political leaders together to meet the C.E.O.s was all part
of the selling point.” $1
million a month buys all kinds of influence in 12 different areas—regulation,
security, negotiation, diplomacy, financial, etc. For instance, Ms. Abedin
worked for Teneo while simultaneously worked as Mrs. Clinton’s aide in the
State Dprt. There are over 10,000
lobbyists “running” this country. Don or Bernie don’t have a chance. You
need “juice” to change things: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
Use your Tax Credits to avoid income taxes like Trump
Most of us receive only 4% of federal tax breaks like food
stamps and Earned Income Credit if you are poor or the property tax and
mortgage credit if you are middle class.
The Tax-Credit Class pays less income tax with capital gains
and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on
earnings while we pay 33% total tax. The Tax-Credit Class pays
NOTHING on assets they got from a “rich uncle” and on their home when they
sell. Most of us don’t “itemize” so we lose all kinds of tax credits. We
pay 33% of income for many taxes. We
are nickel and dimed for 97 kinds of taxes. The Tax-Credit class deducts medical
expenses, job hunting and work expenses not reimbursed by others, deferred
compensation (bonus and stock portfolio worth more later), investment loans and
costs, investment losses, stuff they lose, stuff
they own. They can eliminate income tax by listing losses from buildings,
race
horses, farms,
oil, leasing
and businesses they own as partners, LLCs, C and S corps. Trump actually
deducted $916
million but most of it was other
people’s money. Some bank debt was cancelled which normally is taxable but
not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE
for 18 years.
Use your Tax-Credits too: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-tax/dp/1539462382
Which liar will win
American’s vote?
Neither can re-create jobs of the good old days! We
don’t see either one as President.
Do-Nothing Congress will
decide US future by doing
nothing for more 4 years.
You know I
couldn’t live on the Presidential
salary—a “step
down” for me.
Don: “now we're
supposed to send them out of the country, I
don't believe in that” 2012
There are
now a
dozen who claim I was a bad boy—suing each one on 11/9.
At least a
Las Vegas paper endorsed me. Most supporters don’t read anyway.
I gotta be numero uno. Fear
public embarrassment most.
“we should just
cancel the election and give it to Trump," megalomaniac says.
“I
can shoot somebody on 5th Ave and wouldn’t lose voters.” Well,
maybe U.S.
women.
Worst
campaign? Maybe I didn’t really
want to be President. I have job already.
Mike: Polls are rigged so we
spent more on hats ($3.2 million) than on polling $1.8 mil.
Congress
ALREADY set for my public “hanging” in Chaffetz committee.
Don says I
met ‘international banks to plot
the destruction of U.S. sovereignty’
Trump
promises to settle
his scores [suing accusers] in first 100 days as POTUS.
This
election like 1964 LBJ Goldwater: Gen Jack Ripper
believes only he can save us too
How the party
of Lincoln became the party of Trump—conservative means go
backward especially among “Christians” who now accept immoral
acts in their public servants.
Therefore by their fruits you shall
know them. Matthew
7:20
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”)
Where were regulators—ITT
stole $400 million from students and US? Lobbyists won.
ObamaCare:
44% favorably 47% unfavorably. 2/3 Dems 1/3 GOP say it’s working well.
William W. Gammon Towson, Md. Sold unsuitable
investments given the clients’ ages
Lee D. Weiss of Boston
sold unsuitable
investments
Carolyn C. Kaufman, Hudson , Ohio
Watch out in CO: Bud
trucks are on auto pilot and may not see you going for a Bud.
IRS
claims to have stopped fake
‘agents’ callers asking for tax bill payments. Hang up.
Trump
Toronto near bankruptcy: another Don deal gone bad—investors duped.
Christie:
all 7 people lied about my directing Bridgegate. Kelly: I was “a scapegoat.”
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
CR best cars to buy
Buick
has come up in the Consumer Reports tests. Honda and
Subaru have dropped. Lexus and Toyota
have remained on top. Poor
showing for Jeep, Ford, Tesla, Caddy.
Slightly used cars are a great bargain. You get the benefits without the
new model troubles. Most
reliable are the old favorites—Camry Accord Lexus.
And don’t forget your new insurance discounts:
Do you still need to spend over $25; even $50 a month on
cell service?
There are alternatives coming every week for those who need
fewer bits every month. Now that you know your usage, it may cost you less with
another plan. These plans range from $0 a month to $15: http://www.mymoneyblog.com/list-of-cheap-basic-prepaid-cell-phone-plans-under-10-a-month.html
Police want gun control.
When everyone has guns; your
chance of being killed goes up. Police don’t know who to
shoot. They assume everyone has a gun hidden. You and real criminals both have
guns. Body cams make it harder to plant evidence and stage scene for TV crews.
Police organization
issued a formal
apology for the historic mistreatment of minorities.
SCAMS: Feds “overpaid” National Guard to re-enlist and years
later takes money back
Christie
as gov says his staff closed busy bridge traffic on their own: incompetent
or liar?
Bundy’s
armed rebels go free--“ruling will embolden
other militants to use the threat of violence”
Ignoramus Award: Feds
pay people to leave job and fight; then want money back. Congress
knew 2 yeas ago and did nothing. Why do we pay Congresspeople anyway? Can
we get our money back if Congress does nothing all year.
How our government wastes our money
Feds “paid” National Guard to re-enlist; years
later takes money back. Never again!
IRS
hires bill collectors: "Encouraging federal
agencies to robocall individuals only creates confusion that scammers will
inevitably exploit to rip people off."
Where have all the jobs gone?
Twitter layoff “hundreds”
of workers—8% of workforce.
Who owns your account now?
Time
Warner to AT&T
Reynolds American to British American Tobacco
Genworth Financial GE
long-term care and mortgage insurance to China Oceanwide Holdings
IAN
41 Watchung Plaza, B242
973.746.2014
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