How millionaires become millionaires

Millionaires have spent years saving just like us

The study found that a majority of people who have $1 million or more in investable assets do not consider themselves wealthy. In fact, only 13% of that group see themselves as being rich. But 53% of millionaires said they have a specific target amount or a rough idea of how much they need to save and invest, with 43% indicating that they have a detailed plan. Only 4% of respondents said they do not have any type of financial plan. Most juggle many financial goals, wants and needs. Almost half said they handle investment decisions by themselves. Most said “experiences are more important than possessions” so their money goal is matched to doing things not buying things. What makes millionaires different is that they put their money to work as hard as they do. And they do NOT pay others to “handle investment decisions.” That reduces their earnings. The only way to reach their money goals is to invest in a broad array of stocks and stock mutual funds at cost. They earn over 11% a year not 3.79% with a ‘managed’ account.

Use Vanguard’s Best: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X 

Investing books for young and old savers

John Bogle, founder of Vanguard’s low-cost mutual funds: pay less; earn more!

https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/1119404509

Burton Malkiel, Princeton, indexing not stock-picking makes you rich.

https://www.amazon.com/Random-Walk-down-Wall-Street/dp/0393352242

Stanley/Danko, study of HOW real working millionaires live and earn their money.

https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

Warren Buffett, successful investor, shows you how to create financial independence.

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Inflation will take HALF your nest egg in retirement

Over your retirement years, your purchasing power will fall about 50% due to inflation. This is one reason an annuity offered by your advisor will not be best for you—the monthly benefit buys less every year. Your $1 million at age 65 will be worth about $500,000 by age 85. If you plan on taking 4% a year for expenses, you need to make 6+% a year. This is do-able if you invest at least HALF your bundle in stocks or stock funds. You must bust inflation wide open or your future income is in jeopardy. How can you do that safely? A little risk goes a long way. Think of it this way: part of your assets are for 2 years out, part for 10 years out and part for 15+ years out. Don’t think that all your assets will be needed at the same time. You can afford a little risk with those 15 year assets. Your bank CD/money market works for 1 year but won’t cut it for later. For later, a balanced fund is best. A long-term winner is the low-cost (0.23%) Wellesley Income Fund. Its allocation of 60% bonds/40% stocks and has provided nearly 10% a year since 1970. Plan 2 year, 10 year and 15+ buckets. Use buckets in the same fund family.

Kill inflation: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Why does stock-picking and market-timing NOT work for us?

If you watch or read about Wall Street titans, you might think that you need an advisor to help you grow your investments. NOT TRUE. Fidelity found that their client accounts that were most successful were those put on automatic--left alone--forgotten. Our greatest investor Warren Buffett said, "The stock market is a device for transferring money from the impatient to the patient." Buffett claims that his holding period is forever. He advocates compounding (allow earnings on earnings to grow exponentially): "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Indeed, he has owned many companies and stocks for a long time: GEICO, Coke, and American Express. He uses the earnings to buy companies. His strategy works because his money does NOT trade, rebalance, market time, buy high-sell low or sector rotate—it compounds: money earning money automatically. Keep advisors away.

Use the Best Robo: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

How much of your 401k money goes to other people?

Many working people think that their retirement plan at work is free because fees are not shown in their statements. This is another Wall Street trick. It is your money but the people your boss hires to manage it take a large share. There is your plan administrator, the person who sold it to your boss and the mutual fund that invests the money. Now Fidelity admits there are ‘secret’ fees too. All told, you could be paying over 2% of your 9% earnings to Wall Street and your boss. Over your working life, the costs can take up to 63% of your possible accumulation. So instead of you retiring with $1.1 million, you receive only $660,000. You can avoid giving away $510,000 by using your 401k only if you receive a match and only if you have a low-cost stock plan option. Many savers have stopped using their 401k and set up automatic investing with a low-cost mutual firm like Vanguard, Schwab, TD Ameritrade using an IRA or Tax-FREE Roth IRA. These trusts protect your accumulations and save you having to move your 401k when jobs change and in retirement. The trustee debits your checking and invests your contributions like a 401k. However, you earn the full 8-11% in a stock fund costing as little as 0.04%. It’s your money and you take all the risks.

Keep more of your earnings: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

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How Govt wastes our money: Congress spends another Trillion we don’t have! 

GOP goes after 40 M poor and hungry to save money instead of Trump’s new plane.

War machine gets raise: $738 B up from $611 B. 165,000 military guarding others.

GOP endorses deficit spending and tax giveaways to the wealthy: Cut food stamps!

Trump’s mob will start killing people they don’t like. Feds have not killed since ’03.

CA raises air quality despite Trump—reduces auto emissions.

SCAMS/SPINS:

Most brokerage firms overcharged our charitable and retirement accounts.

Swapnil Rege caught overcharging $600,000 for investments: barred for 3 years.

Charles Kenahan, 30 yr broker caught excessive unsuitable trades: $40 million fine

Michael Garris caught trading in a dead man’s account for fees—barred 1 year, no jail

Douglas MacKinnon and Mark Gray caught inflating debtor’s debt to rob them. No jail

Tom Fallon, CA caught money laundering, grand theft of clients' workers' comp checks.

Robert F. Montes, Wells Fargo, defrocked for uncooperation in misuse of funds probe.

BEWARE: Apps on phone take data even when you don’t give permission.

High Yield 5% CD rate was fake: police stopped $1 million scam. Always compare.

AT&T, cell carriers sell our data to location ID firms: anyone can buy for $300 for stalk?

‘Prevagen improves memory’ continues to defy FDA denial: sued for fake study.

‘You can see the doctor now’ BUT only by TV: Telemed cheaper for our boss!

You can no longer go to ER: routine care costs $2,032 but family doc too busy!?

Do you get a whole month vacation like Congress? National problems solved: Zero.

House not Senate passes anti-robocall bill. Can Senate overcome lobbyists?

GOP cancels election safety measures: no backup if voting machine hacked.

Jobs:

Pope gives corrupt WV Bishop a pension instead of $2.4 M theft sentence.

15 job happy towns mostly in the South and West. America moves.

Who owns your account now?

The rate of divorce after age 50 has doubled in the U.S. since 1990. Men & women lose. 

Safe deposit box is vulnerable: banks don’t insure: renter “assumes all risks”—insure it.

Has Trump’s GOP become racist party? Acquiescence is agreement! We know this story.

Miracle:

Saving this spaceship before we go to Moon or Mars: https://www.iucnredlist.org/

Trump: “I just don’t want to kill 10 million people.” Planned to drop ‘enormous bombs’

Police recapture ALL couple’s retirement money from fake bank 5% CD scam

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Best way to start investing

What is the best way to start investing for the future?

The best way to start and continue to invest for a lifetime is a Target-Date or ‘balanced’ fund. Because we don’t know when the market will fall, we can’t time the market to get out at the right time. People who try this strategy usually lose. In fact, over time, they usually earn just 3.79% versus 11% for the ‘keep-investing’ folks. Inflation of nearly 3% reduces their buying power even further. Why does this happen? Most of us take the short view; not the long view with our savings/investing dollar. If our quarterly statement account shows a loss, we opt out of the long-term 11% return. We can ride out a market fall by using a balanced fund like the low-cost Wellesley Income Fund. Its allocation of 60% bonds/40% stocks has provided nearly 10% a year since 1970. So even when stocks fell 37% in 2008, this fund had less of a ‘statement’ loss to overcome. Also, some folks seem to think that when the market falls 37% they actually lose 37% of their money. If you don’t sell, your fund holds the same number of shares so when the shares rose 27% and 32% as in 2009 and 2013, your account value still maintain the 10% a year over time. Stay invested for more: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

 

Are women better investors than men?

Studies show that women are willing to wait for their accumulations to grow. Patience pays, according to Warren Buffett. When women in one study worked with woman advisors, they held less cash and considered themselves to be more risk tolerant than men. Consequently, their returns were higher. Among the participants, those working with an advisor had a cash allocation almost 15% lower than those with no professional financial advice. However, when female investors worked with male advisors, two-thirds of this affect was offset. The data parallels the experience of master investor, Warren Buffett. Recently, he won his bet with a hedge fund manager using 5 different strategies. Buffett bet $1 million that a simple low-cost index fund (Vanguard 500 Index fund) would outperform stock-picking investing. DALBAR keeps track of investor returns and has shown that over time, a low-cost index wins: No trading, no market timing, and no chasing earnings. In each period, advisor-managed accounts earned less than ‘buy and hold’ investors: 3.79% versus 11%. Wall Street is wrong.

Learn patience: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

How much can your money earn without you?

Do you expect your money to work for a living? If not, you are losing the largest potential earnings available. Fidelity looked at its most successful investment accounts. Guess what? The most successful accounts were owned by people who died or who forgot they had them. Lesson: don’t pay anyone to ‘manage’ your accounts. How can this be true? Warren Buffett the greatest investor of our time says his success is from ‘compounding.’ If we leave our stock/bond account alone, it will earn money by itself. We do nothing! For example: Invest $250 a month in Buffett’s recommended account and 33 years later you have about $993,000. You invested $99,000 (3,000 x 33 years). Your money earned $894,400. You did NOTHING but allow $250/month to work!

Let compounding work: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

When Fed rates fall, retirees need inflation-buster

If you rely on ‘high’ savings rates to float your retirement income then you better plunge into 2.5% paper now. However, with inflation running at over 2%, you are losing your purchasing power. All your costs are going up and your earnings down. What to do? The answer is having enough for expenses now and growing your assets for the future. You must bust inflation wide open or your future income is in jeopardy. How can you do that safely? A little risk goes a long way. Think of it this way: part of your assets are for 2 years out and part for 10 years out and part for 15+ years out. Don’t think that all your assets will be needed at the same time. You can afford a little risk with those 15 year assets. Your 2.5% works for now but won’t cut it for later. For later, a balanced fund is best. A long-term winner is the 40% bond/60% stock fund from Vanguard. Balanced Index shows solid a 6% return since 2000 with only 0.07% cost. Or the low-cost Wellesley Income Fund. Its allocation of 60% bonds/40% stocks has provided nearly 10% a year since 1970. Plan 2 year, 10 year and 15+ buckets.

Best Deal: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

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How Govt wastes our money: Congress spends another Trillion we don’t have! 

Planned Parenthood barred from doing family planning. GOP needs more SSI kids.

Personal Financial education wasted: need info at time of use not ahead of time.

Trumper defies Congress subpoena: respect for law ended by GOP? No jail time!

More troops to Saudi and Mexico as US ready for wars again.

EPA cancels inspections that catch polluters in the act: Koch etc donations ‘speak’

Labor secretary worked against labor for Ford, Boeing, etc to kill protections.

SCAMS/SPINS:

Government can’t stop Robo calls; can phone companies? For a price?

How many times can you cry wolf?  Any credibility left?

What happens if ObamaCare ends? Freedom to go bankrupt: unpaid costs take savings.

NJ, NY, CT sue IRS: SALT tax cap $10K discriminates against one group of people

Todd Ficeto, CA caught ‘pump and dump’ penny stock scheme: $200 M fraud—jail?

Henry Wieniewitz caught selling securities w/o license 630 customers $3 M commission 

People’s pain concentrated in certain markets: solution creates the problem

Beware: ‘Extensions’ you download may sell the info you don’t want people to have.

Beware: Financial ‘research’ is commodity like discount airline seat: cheap buys cheap?

Jobs:

Criminal contempt of Congress?: Barr and Ross are NOT arrested; business as usual.

Who owns your account now?

Summit Brokerage to Cetera Financial Group’s previous parent company, RCS Capital

USAA brokerage to Schwab

Miracle:

Racist not impeached from US presidency: Politicians fear! Few stand for America

Barefoot woman climbs Mt Rushmore: No gear/shoes--$1000 fine but not to top

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Avoid the market panic

Avoid a market downturn panic

We are now in the longest positive market period. But there will be pain in the future. We just can’t know when. Our best defense is a Target-Date or ‘balanced’ fund. Because we don’t know when the market will fall, we can’t time the market to get out at the right time. People who try this strategy usually lose. In fact, over time, they usually earn just 3.79% versus 11% for the buy-hold folks. Inflation of nearly 3% reduces their buying power even further. Why does this happen? Most of us take the short view; not the long view with our savings/investing dollar. If our statement account could show a loss, we opt out of the long-term 11% return. We can prepare for market falls by using a balanced fund like the low-cost Wellesley Income Fund. Its allocation of 60% bonds/40% stocks has provided nearly 10% a year since 1970. So even when stocks fell 37% in 2008, this fund had less of a ‘statement’ loss to overcome. Also, some folks seem to think that when the market falls 37% they actually lose 37% of their money. If you don’t sell, your fund holds the same number of shares so when the shares rose 27% and 32% as in 2009 and 2013, your account value still rose about 10% a year over time. No panic investing.

Chose 11% not 3.79%: https://www.amazon.com/Earn-11-NOT-3-79-Investments-choice/dp/1502412187 

Are you planning to retire early?

If this is your dream, here are the lessons that will make it happen. Any goal requires changing your habits and not necessarily making hard sacrifices. When I wanted that Chevelle SS 396 at age 18, I had no problem giving up stuff I usually wasted money on. If you are going to retire from the daily grind, you need a plan and you need to stick with it. The goal is financial security and independence: freedom and flexibility. First, start early. “Saving becomes ingrained in everything” you do. It makes you feel better—in control. Second, reaching the goal takes time but investing 29% of your income (vs 6% for others) makes you proud of your annual statement. Third, spending smart does not mean you must become a hermit. It means getting your money’s worth—especially when it comes to investment products. Why waste 1-3% of your ballooning account by sharing it with a salesperson. Today, a low-cost ETF or fund in the most aggressive sectors is all you need. According to Warren Buffett, the smart money just keeps buying the best stock market sectors. Trading and timing just defeat your best friends—compounding and tax- FREE accounts. About 53% of savings overachievers have Roth IRA accounts, versus 29% of other savers. Taxed money goes in and tax-FREE money is what you live on later, when you have escaped the GRIND. Change habits: used car vs new car—just $350 a month in a simple index can compound to $1 million in 30 years.

Build your wealth not theirs: https://www.amazon.com/Your-Wealth-Reserve-Save-year/dp/107028288X

Which IRA withdrawal plan is best for you?

At 70.5 years we must start taking out our life-long accumulations. If you have already taken money out and paid your tax and/or penalty, you need to re-examine how much you will take out going forward. Taking out too much can cause serious problems down the line. This is the number one fear of retirees—not having enough to last your whole life. Since we don’t know how many years we will need this income, it is good to review. Your advisor may have mentioned the classic 4% rule: take 4% your first year and increase it by the cost of inflation each year. But the rule was made when the average retiree was earning 8-10%. Your money was still growing each year to beat inflation. Back then, the average retirement last to age 75 or so. Things have changed: we will need income for longer and our money may not be earning as much. You must design a plan for your special situation. Since the IRS has a required percentage based on our age each year, we can start with their table. Since the IRS design assumes we will live to age 115, it’s ratio is less than 4%. Our benefits are recalculated each year so that if our account increases, we spend more and if it decreases we spend less. This makes sense for most of us and has the benefit of complying with the regs each year.

Check your annual benefit: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

DIY financial services and save every year

When you buy any electronics, appliances or even a vehicle, don’t you shop around for the best quality at lowest price? How much can you save by buying direct from low-cost providers? Example: this saver was using a brokerage IRA. However, the company had chosen to use an expensive record keeper and investment option. Their costs were hidden in the plan document given when the saver Tom began. Tom is conservative and put his contributions in the fixed accumulation option. Tom was paying 1.5% a year but earning only 5% so his net was 3.5%. By the time he retires, Tom will have $159,000 instead of $208,000. The brokerage will have the other $67,000 for little work. Tom does not change options or call his broker often. Tom could have chosen Vanguard, Schwab or other low-cost company. Save $67,000 or more!

Buy the BEST for you: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

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How Govt wastes our money: Congress spends another Trillion we don’t have! 

Ignore climate changes: Alaska hits 90; Arctic melts; Miami floods; we pay

Court affirms Trump making money directly from his political position.

SCAMS/SPINS:

$1.99 charges forever: Nickel & Dime hackers use system to steal.

Do you need scooter insurance?

$15 wage would help 1.3 million people leave poverty; 27.3 million workers buy more.

Boeing caught paying $9/hour for 737 Max software that killed hundreds. CEO bonus?

John G Schmidt OH caught fraud Ponzi-like scheme elderly disabled—5 years prison

Steven Pagartanis, Cadaret caught misrepresenting, omission, etc $2.7 million. No jail.

Kyung Soo Kim caught trading crypto outside Merrill: fine no jail

Freedom Debt Relief caught charging fees, misleading clients of rights: fine, no jail

Anthem Health caught overcharging 401k participants: $18 million fees/loss

Ford knew Focus and Fiesta bad transmissions deadly but sold cars anyway

Google Assistant taping your statements, incl names, addresses, details, all. Fed crime?

Sugar soda/juice tied to cancer: stick with diet or water without arsenic, lead, plastic, etc.

Alkaline water is junk science: no effect on tightly regulated pH levels in bloodstream.

Marriott caught misleading overcharging deception fraud for years: warnings ignored

CNN to emulate FoxNews on selected stories: which news do you want? Pick your bias.

Trump is making up Ronald Reagan good comments on himself years later: Dementia?

Jobs:

Where to retire: Make a list of what you like and don’t like and try it out for a month.

Farm lending falls as banks tire of aggie troubles: bankruptcy, retire, sell off.

Who owns your account now?

Climate change may change your portfolio success: Miami property at risk?

Miracle:

Woman needed food but got caught shoplifting: Cops pay for food--no arrest.

For couples who need a new adventure: Real bonding!

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

most important factor in investing success!

What is the most important factor in investing success?

Picking the right stock? Using the star advisor? Investing with the largest firm? Using the advice of a trusted friend/family member? Doing your own research? Buying the most successful tip sheet? Listening to TV gurus? If you are relying on any of these investing patterns, you may be surprised to learn that for your long-term goals, cost is the secret to success. Wall Street is finally getting the message that John Bogle prophesied years ago: Cost Matters. Bogle thought this was just common sense. If your investment returns cost you too much, you are earning less than you could. For most of us saving/investing for retirement, the results are in: stock index funds over time earn 11%. Even more interesting are the returns by stock sector compared to other investment vehicles. Most advisor-led investors are earning 3.79% or less over time. Trading securities is a losing game! The house is the only winner. What are the best stock sectors to own: Energy, Health, Info Tech, Consumer Staples—from 12% to 10% over 20 years?

Avoid COSTLY ETF and mutual funds: https://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

Are you saving/investing enough for the retirement you want?

This is the No 1 question people ask. First, take the FREE money from you employer if you have a 401k. It is FREE money! Of course the earlier and the more you save/invest the happier you will be. However, since most people take home about what they did since they began working (inflation-adjusted) it may be impossible to save/invest more. If this is your situation, rethink the type of investments you use. Why? This may be the only way you will have enough later. EX: $250 a month invested in a low-cost S&P Index fund for 35 years provides enough ($1 million) for most retirement income needs. If you wait just 10 years, the same benefit will cost you $825 a month. If you use stable value funds, you will need 55 years to match this goal. The lesson is that stock index funds are better for your goal IF you have more than 15 years before retirement. Either more time or more money. That is how investing works. Over time stocks have LESS risk of goal failure than bonds. Bond earnings don’t beat inflation.

TIME gives you enough: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Will Social Security survive for your benefits to be paid?

No one can predict the future but actuaries come pretty close. By 2035, benefits will have to be cut according to a recent trustee report. However, since many people will receive less because they are taking the lower-benefit option early, it may not be as bad as it seems. New research says beneficiaries are giving up $3.4 Trillion. A person eligible for a $725 monthly check at 62 could get a $1,280 check if they wait to start at age 70. About half of older Americans get most of their income from the program. Only 4% of retirees are waiting until age 70 to claim Social Security even though they could earn an extra 8% per year. Originally, the plan was set up for benefits to end soon after age 65. Now a 65 year old will need 20 years of benefits. Unfortunately, the techies have not made an ‘algorithm’ for the optimum benefit age. Paid advisors have not been much help since they get paid to sell products not calculating your best benefit age. Politicians are not going to raise taxes to help the poor. Other solutions have been discussed but none are likely by the 2020 D.C. officials.

Make a plan: https://www.amazon.com/Forget-Social-Security-Medicare-Make-Lifestyle-Security/dp/1466394285

Broker/advisor skills are changing

With the industry maturing, advisors need to become specialists for our specific needs. Robo advisors, planners, target-date and sector funds, ETF and discount trading platforms will take each segment and provide very specific services. We need to know what we need so we don’t become victims of fraud and excessive costs. Like medicine, we obtain a diagnosis (plan) from a fee-only planner, and then fill the script (product or service) from a drug store automatically (stock or monthly IRA contribution). Only the rich can afford a full-service brokerage firm like their lawyer on retainer. We will be better served by getting what we know we need and not paying for stuff we will never use (global asset management). Most people need nothing more than a low-cost 401k or IRA invested in stock or stock/bond fund. The rest is just a drag on our future Wealth Reserve.

Build your wealth easily: https://www.amazon.com/Your-Wealth-Reserve-Save-year/dp/107028288X

Are you following Warren Buffett’s strategy?
Buffett’s simple strategy beat 5 different hedge fund strategies over 10 years. Buffett bet $1 million he would win for his charity. He won. Buffett’s strategy is simple—but hard. Over time, this strategy produces over 11% whereas the average investor managed by an advisor produces 3.79% according to DALBAR. Unless you enjoy gambling with your future retirement income, why would you give most of your potential nest egg to your broker/advisor? Buffett’s strategy is hard because we are not allowed to stop investing or trade or market time with our long-term investment money. This is why the Target-date funds are so popular. We are having our contributions invested every month automatically. We can’t miss a stock sale if we don’t think about our money as bank savings that we lose permanently like a bank failure. Even if the market falls 50%, we still own the same number of shares so when it rises we will still be able to meet our goals. If you would rather have $1 million in 35 years (@11%) vs $220,000 (@3.79%) after investing $250 a month then you must leave your money alone to work. You own the shares of the biggest 500 firms in the world. They aren’t going to fail.

Buffett’s strategy works: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

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 pay for. 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 later when you need it. The SHOCKER: the median net worth of a 33-year-old is just $8,525 including home and car! Buy direct—cut out the middleperson: benefits are the same.

Build YOUR assets; not theirs! https://www.amazon.com/Your-Wealth-Reserve-Save-every-year/dp/107028288X

CA employers gain easy way to offer retirement fund

CA has created an IRA-type account for workers who have no 401k. In coming years, employers with at least five California workers will be required by law to provide retirement savings benefits to their workforce, which can be done through CalSavers or the private market. CalSavers solves 3 problems: “it’s easy to facilitate, employers have no fiduciary liability, and there are no fees for employers. Employers are only responsible for providing us with their employee roster and then remitting employee payroll contributions each pay period.” Employees keep the account when they change jobs. They can pick their own investment options. The account is a Roth IRA for tax-FREE retirement. Employees don’t have to do a thing—automatic enrollment. Unfortunately CA has chosen State Street as the money manager which costs 0.825 to 0.95% of assets every year whether you do well or not. This is high compared with Vanguard and Schwab at 0.04%. However, for most working people who do not have an alternative, this is great.

https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

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How Govt wastes our money: Congress spends another Trillion we don’t have! 

Can gov do anything? How about shutting RoboCallers, Scammers, Fraud?

Do Not Call List is a joke. Robos actually use the list to call/scam/steal.

Trump’s 4^th celebration is now tank/military exposition a la Red Square. His envy!

But did the Army really take over the airports in 1775? Was this Putin’s speech?

Can an Executive Order trump a Supreme Court decision?

SCAMS/SPINS:

Drugs that are associated with dementia: strong anticholinergic drugs

Assault is crime for some and not for others: Pick ‘Good Family’ every time!

Is Ted Cruz really like Rosa Parks? He wore blackface in the back of the bus?

Will gerrymandering and Citizens United kill democracy: 1 person; 1 vote?

Anthony Fusco Legend caught churning, fraud, etc was fined but went bankrupt.

Kristofor Behn Fieldstone caught stealing $1 M by misleading clients: no jail

Jobs:

Drain the swamp? Here is why we can’t understand what government is doing.

Quantum computer: how to ship stuff to your home efficiently

Your cash keeps your brokerage firm afloat: Sweep Accounts steal your cash

10 best entry-level jobs for college grads: electronics, nursing, etc. 

Who owns your account now?

NJ creates own state health exchange to maintain ACA protection of coverage.

28% of us have no emergency savings; One in four have a rainy day fund, but not enough

Miracle:

Chick-fil-a worker jumps from window to free child choking on seatbelt: cut with knife.

A catholic school refuses Archbishop’s order to fire ‘valued employee’ who is gay.

Radio listener heard plight of payday loan victim and paid off the loan.

Arctic fox walks 2,700 miles from Norway to Canada in 4 months in the [really] cold.

Teachers learn how their students worship: diversity training for adults

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert