ALERT: We have 3
days to save $4,000 on taxes
December 31 is last
day to invest in your retirement account and claim a $4,000 tax credit. The
amount of the credit is 50%, 20% or 10% of your retirement contributions
depending on their adjusted gross income. The Saver’s
Credit can be taken for your contributions to a traditional or Roth IRA;
your 401(k), SIMPLE IRA, SARSEP, 403(b), 501(c)(18) or governmental 457(b)
plan; and your voluntary after-tax employee contributions to your qualified
retirement and 403(b) plans. Uncle Sam gives you money to enhance your
retirement fund. And you can use Warren Buffett’s investing strategy so you
accumulate a $ ½ million over time. Look at how you can make saving and
investing easy for the rest of your life: http://www.saferchild.org/power/.
The electronic book is available 24/7! https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help-ebook/dp/B00IHIFG38
Is your advisor’s
model portfolio right for you?
You are paying your
advisor, their firm and the firm that actually does the portfolio creation and
their back office and compliance departments for your fancy asset management
advisory platform. Some extremely-well paid person is making up the securities
in your ‘model’ portfolio. They
decide what is right for you—not the person you speak to or meet with. They
put you in index funds—the expensive ones called ETF. You or they just fill in
a form about ‘risk and reward’ available at any vendor, and vaole, your asset
management plan is ‘personalized.’ What a B.S. game—an expensive game. As guru Bill
Gross said: “Professional money management is a gigantic rip-off.” You pay 1-2% of your money every year even
when they lose your money. 1-2% over time adds up to 63%
of your potential earnings you are giving to make others rich. You would
have done better just buying the index yourself for 0.04% a year. Dalbar
study.
Vanguard cuts fees
again
Vanguard eliminated
commissions on 1,720 ETFs. That creates a huge new marketplace for ETFs trading
at no cost - far bigger than any of its rivals. Schwab offers 265
commission-free ETFs from 15 providers, and Fidelity offers 95. TD Ameritrade
tripled the number of commission-free ETFs on its platform last October, now
offering nearly 300. “Vanguard has been very transparent for a long time that
they won’t pay for eye-level shelf space on any third-party platform,” says
Morningstar. “They’re practicing what they’re preaching here.” “Their message
is that pay
to play is not in best interest of investors, and it will create pressure
on the other brokerage platforms.” “Vanguard doesn’t want or need to do the
service-and-technology-intensive RIA custody business.” Vanguard already has
low personal advice management fees starting at 30 basis points, much less than
the 100-150 basis points at other firms. If you trade frequently, Vanguard
offers all the ETFs you could possibly use. If
no ETFs, you get low-cost for life. You get the best without having to give
up 63% of your potential nest egg anymore.
Buy direct and save:
https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275
Another way wealthy
Americans avoid their fair share of taxes
A dynasty trust — to
take advantage of the law doubling the amount that can be passed to heirs
without being subject to estate and gift taxes. The new threshold of $22
million for married couples means the trusts
can be funded tax-free. They can leave $22 million to the kids Tax-Free. The
wealthy look to capitalize on the additional $11 million they can now easily
shift over. Some families want to transfer money out of their estates into the
trusts in case Democrats take back control of Congress and pull the limits back
down. Moving assets before they appreciate even more provides even less tax in
the future. Trump’s IRS said in November that it won't seek retroactive taxes
when this Trump bonus for the rich expires in 2016. The wealthy will never pay
tax on gains either.
Use your tax credits
too: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
American socialism:
giving business our tax revenue does not help us
Wealthy businesses
would have built that factory or hired workers without
giving them tax money according to various studies. In other words, giving
our tax revenue to businesses just makes the owners richer and us poorer. The
authors found “little evidence that the [subsidies] generate new jobs or other
direct economic benefits to the states that employ them.” Results show incentivized
firms “would have made a similar decision location/expansion/retention decision
without the incentive.” In MI for instance, for every $500,000 in subsidies
paid out through 2016, there was an associated loss of some 600 jobs in the
county. Another study found
“little evidence to suggest that the subsidy creates significant job and
establishment growth.” In fact in many cases, the larger firms out maneuvered
the targeted small entrepreneurs receiving subsidies. So the wealthy elect
state lawmakers to use tax money to make them richer--cutting out new firms. Amazon
in Queens is an example of wasting $3 billion in tax
money.
Is giving discretionary
trading authority to your broker right for you?
This retired person
had $1 million in their IRA. She lived frugally but her account balance was
losing big chunks and was down
$500,000 in 7 years. Her relatives asked for help from their own broker.
Searching her statements, they found out that her broker was writing options on
oil. Of course, the brokerage firm was not checking compliance to her trading
profile. Her broker was making money for the firm but losing the client’s life
savings left and right. No red flag. No review by her broker’s manager. Her
relatives wanted to bring in securities officials. Her broker agreed to give
back $80,000 if they dropped the case. This retiree did not want to go thru a
prolonged fight so she settled. Giving up control is dangerous especially when
you know nothing about securities. Like putting all your money in an expensive
variable annuity—you have no recourse. Beware.
Let Warren Buffett
be your advisor: https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900
Hope you didn’t dump
your stocks because you just miss biggest gain.
As Warren Buffett wrote in his
2017 letter to shareholders, investors should do two things when stocks are
falling: Stay in the market and buy at a
bargain. "Be fearful when others are greedy and greedy only when
others are fearful." One day jump 5%-- the biggest rally
in American equities since 2009. Anything can happen in the day you are out of
the market. You don’t have to keep your marketing people happy with gains every
month like ‘professional’ money managers. Hold for the next wave up or down.
Over time investors have been rewarded for every
period of at least 5 years. For 30 years ended 2014, you
earned 11% a year. Apple Microsoft
Amazon Google Berkshire Hathaway Johnson & Johnson JPMorgan Chase Facebook
Exxon Mobil Pfizer still makes money. Get them on sale: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Medical expenses are
deductible?
Trump’s new tax
breaks kept this deduction for his wealthy friends who seem to have large
medical bills (custom surgery in world resorts that can handle their yachts).
If you itemize, the list of deductions is fairly long: https://www.irs.gov/taxtopics/tc502:
Air
conditioners, contacts, special diet, exercise programs, etc are now deductible.
Transportation for medicals is also deductible. If you don’t have enough this
year—postpone expenses you can until next year. Find your tax credits and pay
Zero tax like Jared. One year, The Don had $916
million tax loss so NO taxes for up to 18 years.
**************
Truth isn’t truth, his
lawyer
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Trump
cut from Syria because Turkey wanted it. Dictator Erdogan became a hero.
Trump buys up all
his own calendars for all the leaders of the world.
20%
pass-through deduction shows top
earners reap the biggest gains: Deficit UP UP
SCAMS/SPINS:
Tariff’s war on Poplar
Bluff MO my friend’s home town is trade
war victim.
Trump’s lies hurt: 6
new
steel plants were just lies to get political support.
His ‘secret’ in The Art of
the Deal is to make
up bigger lies: Not
art but The Big Con.
Trump
tells 7 yr old his belief in Santa is ‘marginal’ –devil undermines child’s
beliefs.
The Don becomes a security
risk by divulging SEAL team in tweet: dictators do this.
The Don’s deal with Apple
Foxconn shifts to India—from
WI 25,000 jobs $3 billion lost.
Wealthfront caught making
false
statements; misleading adverts; blog steering.
PA public pension
losing $1 billion in fees for poor performance. ‘gigantic
rip-off’.
GOP
to workers: you signed up for no pay with The Don but Congress still
gets paid.
Morgan Stanley caught
allowing clients to launder money. Fine but no jail time.
Morgan Chase caught
committing “abusive ADR pre-release practices." Fine no jail time
BEWARE: Advisors
paying for your dinner can cost you more than the meal.
Nice guy advisor can
cost more than you earn: always
compare to your benchmark.
Why
didn’t your advisor ask you these 10 basic questions: you don’t need the
B.S.
The Mob Boss can never go to jail: Trump
has Kava as Supreme so no indictment.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes
protect Don’s ‘Orders’? – GOP: Sure, pres
can change
Constitution anytime.
----------------------------------
Jobs:
WellsFargo hurt
customers, laid
off workers; rehires oversees workers—follow money.
Corporate
welfare did not produce more jobs studies find. Tax payers hurt.
Who owns your account now?
IRS explains tax
changes: https://www.irsvideos.gov/Individual/education/TaxReformBasics
2019 GOAL: No Debt: https://www.bankrate.com/ways-to-get-out-of-debt-1.aspx
10 worst luxury
cars: https://www.autoguide.com/auto-news/10-worst-luxury-cars.html
Got a phishing
email: Netflix account suspended: ‘change payment’ Netflix said not ours
Miracle:
What if real police broke up
a mob by dancing around them? It would change the world!
IAN
41 Watchung Plaza,
B242
973.746.2014
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