I wrecked my portfolio; did you?
My retirement nest eggs could have contained over a $1
million. Invested at 8% in a balanced fund, I could have spent $80,000 a year
on average. But I fell victim to 10 investment biases that wrecked my
portfolio. After learning about my
mistakes, I was able to recover and still grew it to $900,000. I had never
heard of Warren Buffett when I began investing in the early 80s. Warren Buffett
had not yet provided his secret to investing.
I had no
idea that for investing, the key to success is cost.
I did not
know you can avoid taxes on retirement income.
I did not
know my money could grow faster just by leaving it alone.
My first contact with 'investing' was deciding which options
for my 401k account. The HR person said “you won't lose money with this one.” They
steered me to the “stable value” and money market options. That was my first
big mistake.
I learned to avoid my biases and invest well: https://www.amazon.com/investment-biases-that-fried-nest/dp/1547188952
Trump uses flattery to trick us about investing
“The Fiduciary Rule as written may not align with
President Trump’s deregulatory goals,” Acosta, Trump’s labor secretary, wrote
in an Op-Ed. “This administration presumes that Americans
can be trusted to decide for themselves what is best for them.” Flattering,
but not true. We don’t have enough education and experience to decide how best
to invest. The industry has preyed on us for over 100 years. “The image of the
investment professional who always prospers—whether the client sinks or
swims—has got to change,” said Paul Smith, head of fee-only advisors. “Everyone
knows we overcharge for what we do. It’s obvious.” It is the brokers
that have the yachts not the customers. We go to advisors for help and we
lose. “The broker leads [us] to believe [we]re not
paying any fees at all.” The return of the average customer is 3.79%
while owning a low-cost
stock index fund earns 11%. Further, by paying 2% per year to our advisor, we
give up 63% of our total possible nest egg. One regulation doesn’t
automatically make advisors more ethical. However, without at least the
Fiduciary Rule, the phrase “trust your broker” will continue to be just a joke punch
line. Schwab
has it right, there is no advisor accountability. The industry hides the costs.
GOP
House lifts protections against financial meltdowns.
We have no idea what we’re giving up: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275
Did Russia
change our voting computers’ tabulations?
Leaked documents say they targeted our voting machine
software. The head of the Senate Intelligence Committee told USA
TODAY, "I
don't believe they got into changing actual voting outcomes," Virginia
Sen. Mark Warner said in an interview. "But the extent of the attacks is
much broader than has been reported so far." The Feds don’t know!
It sounds like our government never
checked the local computers to determine if the software changed a few
votes here and there to give the election to Trump. Putin did not want Hill to
win. He admitted his “patriots” hacked our elections. But no
one bothered to check our computers. It only would take a few votes in 3
states to reverse the outcome. The Brennan
Center Clinton ”
could be cut in half automatically.
No
state has actually looked at the software or did extensive recounts.
Putin and Trump are laughing at us: http://www.npr.org/sections/thetwo-way/2017/05/10/527755991/trump-meets-with-russias-lavrov-at-the-white-house-today
Will a single payer health care plan in CA NV work?
CA Dems say this is the only way for the majority to receive
affordable
health care. Many voters think that health is a right not a privilege of
the tax credit class. TrumpCare gives our tax money to the wealthy and puts the
burden for care on the states. Ryan does not want to give CA the money for a
single-payer system. CA has the 6th largest
economy in the world ahead of France .
The top 10 countries have single payer systems. Even US
medical providers agree Medicare works. Only the DC
lobbyists disagree. These highly compensated folks have run our health care for
too long. CA might show the way. NV may try Medicaid
for all who need it. Medicare works better than what we have now. Just ask
any 65 year old.
Is Christian
compassion un-American? Trump
seems to think so.
Trump’s kid thinks Dad’s critics are not human. https://www.amazon.com/Enough-Retirement-Income-Incarnate-living/dp/1500165107
What we don’t know will kill our future
Survey participants who worked with an advisor had lower
overall levels of financial literacy. Because we
don’t even know what an advisor charges, we lose $ billions yearly. Indeed,
three in four respondents failed to pass The American College of Financial
Services’ 38-question quiz regarding strategies to make
savings last through a retirement. Before taking the quiz, 61
percent of the participants felt like they had high levels of knowledge
about retirement income, but just one-third of those who said they were highly
knowledgeable were able to pass the quiz, according to the College. This is
called illusory superiority, a cognitive
bias whereby a person overestimates their abilities. So many of us think
we or our advisor can beat the market. So we think we know how to manage retirement
income. 30 percent knew that actively managed mutual funds tend to have higher
fees than ETFs. Just one-in-three correctly responded that bond values
tend to fall as interest rates rise, and only one-in-four displayed an
understanding of bond ratings and asset classes. We also struggled with low
levels of knowledge regarding annuities, according to the College. Expensive
annuities are sold, not bought.
What did you learn from the Great Recession of 2008-9?
Many young people, watching from the sidelines, have turned
into conservative investors, according to a Legg
Mason survey. 82 percent of millennials say the investment decisions they
are making now were influenced by the recession. People with other experience react
differently: only 13 percent of baby boomers and 14 percent of those over age
65 say the recession held sway over their investing. This is called anchoring: a cognitive
bias that describes our tendency to rely too heavily on the first piece of
information offered (the "anchor") when making decisions. If
millennials had learned about compounding in high school math, they would know
that investors earn 10-12% on stocks over TIME. A low-cost stock index has
gained over 9% per year since 2007 and 11% since 1995 and 13% since 1975.
At that rate, any young person who invests $250 a month could have $1 million
by retirement because they have TIME.
Get the facts first: https://www.amazon.com/Millennials-Investment-Strategy-BEST-journey/dp/1533079242
This is what a critic is saying about 1 new car
“Perhaps
the worst-handling new car on sale,” one said. The critic said that drivers
will hate how much road noise emanates within the cabin. Check all ten new cars that you should NOT
buy even if you love the way they look. Even the $80,000 Maserati Ghibli is
rated a Gjip.
Best for getting there and back: Consumer Reports BEST
for the 200,000 mile life.
Use all your discounts too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
Trump tax cuts will do harm and will be reversed like KS
GOPs in KS have awakened from the myth
that more breaks for rich grows economy. GOP voted to rescind
the tax cuts of 2012 after KS almost went bankrupt. Rich people of KS did
not build new business, did not create more jobs and did not increase revenue
from growth. The tax cuts of Brownback just left bad schools, more fees, less
jobs. KS has no deficit spending like the feds so GOP can’t waste money. How
many times will GOP fool the public with “growth thru tax cuts?” People forget
the GOP savior Reagan
had to raise taxes 11 times after cutting them in the 80s. Yes, he did not
call them tax hikes but a duck is a duck. KS proved that when you cut taxes for
the rich you increase deficits because rich people don’t spend money for things
that create jobs. They
buy art and other assets that are not taxed until they are sold—perhaps a
generation later. When you have money, you can use all the legal means to avoid
taxes. For instance, Warren Buffett, with $60 billions, pays only 17% total tax: http://www.youtube.com/watch?v=Cu5B-2LoC4s;
Mitt Romney only 14%; John Kerry only 13% and Apple just 9.8%.
Buffett found that his staff pays 32.9%—DOUBLE! Trump protects his
own class with tax cuts.
Give yourself a tax break: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Trump thinks he is vindicated.
He was/is the boss of campaign officials being managed by
Putin. “Despite so many false statements
and lies, total
and complete vindication...and WOW, Comey is a leaker!”
Comey kept notes of every meeting because the president
lies. “Please release the tapes!”
*****************
TrumpWorld
Goal: Trump brand around the world
“Covfefe” means “I
quit”
We can’t stop watching his “apprenticeship
for president” show EVERY DAY!
Two Americas
Trump is still just a mafia contractor from Queens—Fred
taught him to be The Don.
Like mob boss, he asks
Comey to let Flynn
probe go, then asks
for loyalty, then fires him, then threatens him. https://twitter.com/realDonaldTrump/status/863007411132649473
Putin
is not just another mob boss The Don is used to dealing with in NYC.
Trump tied
to Russian mafia thinks he
owns the ‘towns’ people and the Law.
Trump gives absolution
to lobbyists/employees for UNethical behavior Papal Bull?
Chris Wray to FBI so he can get Trump off like Wray did for
Christie’s Bridgegate. Wray
kept secret Chrisie’s messages to staff who were convicted of giving order
to close.
Putin
disputes Trump: Putin admits his ‘patriots’ hacked US – cracking US open
Putin’s ‘patriots’
only had to have the software
change a few votes for electoral college.
Putin
happy Trump dumped working the rest of the world on climate—another wedge
Ryan admits The
Don is incompetent to lead America--Mafia yes: “an
offer can’t refuse”
Trump near giving spooks their mansions back and ending
sanctions for invasions.
Trump retreat from world: America
was happy “between our two oceans,” he said, until realizing “what
a crummy world if we all retreat inside our own borders.” Gen Mattis
“When America
TrumpWorld – using presidency to make money the old
fashioned way:
Koch
Industries big winner with Paris pullout—Election dollars really do make
change.
Ivanka’s shoe manufacturer investigated
for abusing her workers.
Trump
hotel paid $270,000 Saudi lobbyists to stop letting Americans sue for
terrorism.
Don’s greed: shifted kids-cancer charity money into his business
and interests.
Don to sell
Washington waterway so customers can pay more and budget looks better.
Privatizing airports, water, roads could create another Flint
or IN
toll road hikes.
*************
Regulators are the only protection against
corporations since we
can’t sue anymore
“It is nearly
impossible for one individual to take on a corporation with vast resources.”
Supremes
stop us from suing—State courts no
longer available to sue corporations!
VW
recalls 24,000 Audi A7, A8 for emissions cheating after govt testing
Harley-Davidson
recalls 57,000
Hogs for oil line break onto rear tire.
Fay Servicing caught failing
to provide protections against foreclosures. No due process.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
GM
killed 124 because ignition switch pin not replaced after knew it
killed first in 2006.
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 one and shoot
first. You and thief have guns. CO schools now allow teachers/administrators
to carry
guns in the classroom. Kid lesson! Since 2015, police have killed
86 people with realistic looking FAKE guns--suicide?
TN teen accidentally killed
his girlfriend with gun he’d just received as a graduation
gift from girlfriend’s father?
SCAMS:
DealDash lures you to gambling site an investigation by TINA.org has found.
Ignoramus Award:
“I
am not a woman, so I don’t have bad days,” Vladimir Putin
Don, look at Tangier,
VA where climate
change and rising sea levels threaten
jobs of the inhabitants of the slowly sinking island. Every
coal job costs us 4 energy jobs.
'Leaders
don't leave tables, leaders stay' Dow Chemical CEO says.
GOP Tim Walberg said
that God
will address climate change if it is real.
How our government wastes our money:
This
is how Fascism creeps into our lives—little by little—excused by
“protecting us”
Where have all the jobs gone?
“Since the fourth
quarter of last year until most recently, we’ve
added almost 50,000 jobs in the coal
sector.” Most were in ‘non-coal’ mining operations. Trump’s EPA Puitt
370,000
people work for solar companies – growing at fast pace; now at risk?
Verizon
cuts about 2,000 jobs from Yahoo.
Jobs
that are NOT filled—recruiting https://www.benefitnews.com/slideshow/2017s-toughest-jobs-to-fill#slide-1
Job interview will ask for your salary requirements. Answer:
I
will research the range.
Which job board sites are best
for your job search?
Cancel Robo calls with Mr NoMoRobo: https://www.nomorobo.com/
Miracle:
Heroic
Kids Save Dad’s Life After Shed Falls—he’s unconscious; they called 911.
Fox News tries to get the real
news for a change.
IAN
41 Watchung Plaza, B242
973.746.2014
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