Easy way to save for the future—use the money you save by buying direct: auto,
home, life, other insurance and expensive 401k and mutual funds. Create a
Wealth Reserve: use savings on financials you already own. The financial
industry has changed so you can buy
with discounts or at Costco-type outlets. Example: MetLife charged $983
for the same $300,000 30-year term policy as SBLI provided for $384.
Their financial strength ratings are A+ and their underwriting requirements are
the same. The difference, $599, over 30 years is $17,970. If invested, this
difference can add $175,000 to YOUR Wealth Reserve when you need it. The
SHOCKER: the median net worth of a 33-year-old is just
$8,525 including home and car! Buy value not price: benefits are the same.
Build YOUR assets; not theirs! https://www.amazon.com/Your-Wealth-Reserve-Save-every-year/dp/107028288X
What will you do with your 401k or 403b account?
Retiring or changing
jobs, you must decide what to do with your money. BEWARE: Insurance
agent advising 401k rollover is illegal: Check the insurer’s fees! Unless
your old employer has low fees and a large selection of funds, you should
transfer your money to a rollover IRA at no cost. Federal
workers will soon have new options that allow their money to stay. Two
questions to answer before you decide what to do. Large mutual fund firms like
Schwab or Vanguard usually offer more choices and lower fees inside an IRA
rollover account than leaving your money with your old employer. A stock/bond
balanced fund costs 0.5%
at Schwab and 0.07% at
Vanguard. Both offer low-cost IRA accounts. Vanguard’s fees are low because
the funds are run at cost—there are no commissions or owners to pay. Fees
over your lifetime can take up to 63% of your potential nest egg. Based on
the timeline for this money—stocks for 30 years out or balanced for retirement
now—your first step is to call your new IRA custodian. Let them do the paperwork
and initiate the direct transfer so you pay no tax. Tell your old 401k
administrator you don’t want taxes taken out. When your money gets to its new
home, confirm the move amount and type. If you change jobs again, you have a
place to put it and you don’t need a broker to move it.
Pay less; keep more: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938
Are ‘Alternative’ investments right for you?
‘Alts’ are all the rage in the brokerage community. The argument goes
like this: “multi-million dollar accounts have alternative
investments and so should you.” Alts are private equity, real assets,
derivatives, and hedge funds. Short answer: they are not worth the cost. If you
had a few $ millions you would not be able to buy the same deals as the
institutions that use alts. You are not an institution, so your goals can be
met with less expensive vehicles. Higher costs, greater dependency on
management’s crystal ball, less transparency, low tax efficiency, and limited
or no access to the funds, all make alternatives unattractive. Alts are
supposed to rise when your other assets fall. In recent history this has not
been the record.
Use the better alternatives to alts: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Is your advisor just plugging in the numbers?
85%
of all advisors us ‘model’ portfolios. You thought the $ thousands you pay
every year—eventually costing
up to 63% of your total possible accumulation—was buying ‘Wall Street
professional money management.’ No.
This study says your advisor does not have time to plan each client’s future.
They want scalability—more
money for them not for you. Just as in Mrs
Blanding’s dream house, you think you are getting the “color of butter
‘yellow’,” the painter buys the standard ‘yellow.’ The painter knows you will
never know the color difference. Since you are NOT getting top-notch
professional management why not pay less and earn more. We are talking real
money: $3,000 a year invested in a low-cost market
index for 30 years = $700,000;
in an advisor-managed
account = $167,000.
Forget the myth of ‘professional management.’ Earn more.
Need a graduation gift?
The greatest gift you can give is financial knowledge. No matter how much
your young graduate makes, it is up to YOU to show them the Buffett
investment strategy. Make sure they can make and manage money.
At my first job, I had no clue which investment to use for my 401k contributions
and company match. The HR person told me to put it into the 'safe' stable value
fund. That was the worst choice at my age I learned later
when I got my securities’ licenses. If I had followed their advice I would have
ended up with about $150,000 instead of a Wealth Reserve of
$877,233 about 33 years later.
How did you find
your car insurance?
Surveys usually look
at all the factors but best is really determined by claims handling. You don’t
want aggravation after the accident. Since price does not always show value,
you need to keep both of these factors in mind. US News looked at over 2,000
claims. They rated satisfaction with the ease of filing
a claim, customer service, claim status communication, claim resolution,
overall value they feel their insurance company gives, if they’d recommend
the company, and if they planned to renew their policy. Prices in 50 states,
driver miles, violations, age and sex and type of car were considered. USAA is
only for military had best rating. Travelers and State Farm were next. Geico
had lower rates in most states. American Family car insurance was the
lowest-ranked company on their list. Liberty Mutual did not provide rates.
There are so many factors in your quote that this list is only useful as a
start. Agents don’t always offer discounts. You must ask.
Ask for all your
discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
What regulators have
done to us with their new rule?
SEC has put lipstick
on a pig. The industry gets fat as they kiss us with sweetened lip service. GOP
propaganda wins out over real significant change: Regulation
is called ‘Best Interest.’ It claims to improve individual investor
protections but look for the teeth! Since it does not actually define ‘best
interest’ of the client, it lets salespeople
drive through loopholes. Our ‘best’ interest is defined
by the sellers, thus: “It doesn’t actually require brokers to act in
clients’ best interests.” Most clients yawn
at a broker’s ‘disclosures’: pages of legal boilerplate meant to keep
clients out of court. The GOP had to kill the Fiduciary Rule
in 2018 since it required sellers to ‘prove’ our interests were put above that of the sellers. The model: Certified
Financial Planners have professional credentials to uphold. It took 6 years
for the govt to incorporate all the concerns of consumers into the standards brokers/advisors/agents
had to follow. We were losing $17 billion a year because we never got the ‘best’—only
2nd best: sellers still sold high-cost or inappropriate products. It
was like our doctor giving us the new expensive drug when the generic did the
job. Doctors
received cash and meals and trips to push expensive versions. The same
happens in financial
products. Annuity sale
scams were the focus of the Fiduciary Rule. Sellers have always
received incentives for giving 2nd best the happy talk. The
industry lobbyists got the Fiduciary Rule canceled in 6 months. Buyer beware!
Get the Best for YOU:
https://www.amazon.com/Fiduciary-Rule-BEST-dont-overspend-anymore/dp/1530980275
**************
Truth isn’t truth, his
lawyer says
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Do
our leaders want us to kill each other? There will always be psychos;
sell 3 bullets/yr?
Trump
won’t let immigrant children play ball, learn English, get help. Money to
golf.
Rick Perry reclassifying
nuclear waste to ‘save’ money: shallow pits not leaky tanks.
Gerrymandering
and PAC money destroy our democracy as much as Putin tipping scales.
SCAMS/SPINS:
HALF
of us want dictator: above law, obstructs justice, hides info, snubs
Congress
Citizenship
question: “hurt Dems and benefit white Republicans in redistricting.”
Price
increases are now called ‘fees’ using unexplained ‘fees’ to keep ‘price’
low trick.
FL
bans valedictorian from giving her speech: made joke about principal.
Oh my!
Job
offers that are just scams for personal data: fake ‘verify checking’ gets
number.
WV
Bishop Bransfield used offerings to pay off abuse victims and higher
ups
Protestants
are abusing children and women too; just more subtlety.
Govt
lets telephone firms charge us to block robos: these are our airwaves!
Insurer caught
dealing claim in bad faith: victim gets $1.3 million not $50,000.
Avenatti indicted on
36 counts: stealing
$ millions—disbar, extort, etc etc
Trump stops IRS from going after his election contributor
Koch: fake
tax shelters work.
Trump
allows payday lenders to continue worst credit practices. Desperate folks
enslaved
Peter Baker, GA Elizabeth
Oharriz, FL caught
defraud investors with ‘prime bank’ scam
James Anderson caught
selling products not offered by Ameritas: defrocked.
David Strnad
MorganStanley caught
‘churning’ CDs lost $100,000 for client: no jail
MorganStanley made $ millions on Uber IPO but its
wealthy clients lost a small ranch.
GOP
still claim hedge fund managers tax break creates jobs: $ million
lobbyists’ jobs.
The
dictator orders previous employees to defy Congressional subpoena? Hope
arrested?
The Mob
Boss can never go to jail: Trump
has Kava as Supreme so no contempt.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes
protect Don’s ‘Orders’? – GOP: ‘Sure, prez
can change
Constitution anytime.’
"Charging the President with a crime was therefore not
an option we could consider."
Jobs:
Catholic in every
way except
in having optional celibacy for its priests: Bishop Njogu.
Walmart
needs workers: college prep help is perk—management degrees paid.
Immigrants: 14%
of our population, but started ¼ all new businesses; earned 1/3 Nobels.
Who owns your account now?
NJ law: protect
ObamaCare benefits for state’s residents if Feds decline them.
LouisianaCare
for all families w/o employer plan using state and ObamaCare money.
Drug prices high but
Dr
doesn’t track unfilled prescription: ask for generic alternative
Mortgage rates fell:
30-year fixed rate fell to
4.04% a 2 year low.
Best tax-FREE IRA
account firms: review what
is best for you—cost, face, service, trade
Is your charity
making the right grants with your money? Check
list here.
Miracle:
Ryan Keith Cox
helped fellow workers get safe and then took a bullet for their safety.
Our
President at his best on D-Day: Can he get more ‘introspective’?
IAN
41 Watchung Plaza,
B242
973.746.2014
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