Best evidence you are being scammed
A cold call, unsolicited letter or email! Think of it. You
have been ‘chosen’ out of billions of people to receive an offer that sounds too
good to be true. If the offer requires you to send
money to get money or if it is heavily
charged with emotion, you can’t possibly make a rational decision by
yourself. You need help—any friend
or advisor can help. The money strategy
is complicated but scammer sounds like they know what they are talking
about. Even Harvard endowment fund is fooled by bad
direct investments. Scammer has your detailed
personal info so they must be authentic agent
of govt agency. You find a charge
on your credit card you don’t recognize. Credit card charge is
small $1 and you ignore it. Check out how
much info you can find on yourself on the internet—just type your full name.
You will be shocked to see a lot more than you want floating out there. Most of
it can be used to rob you. You should go after every
firm that offers to sell your data. It is said that scammers can buy your whole profile for less than $100.
Avoid money scams: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023
Will you have enough?
How do you know whether your investments will provide enough
money for retirement? Your advisor may not be a financial planner or have
access to the calculators that can make an estimate. You should do a little
homework just to make sure you know how you are doing since your advisor is
unlikely to be around in 25 years. Retirement calculators like Vanguard’s
Retirement Income Calculator and Vanguard’s
Nest Egg Calculator can give you a feel for your accumulation progress. The
value of these kinds of calculators is that they include the Time
Value of Money. For instance, if you are due to have a pension of $1,000 a
month when you retire in 20 years, it is sobering to know that it will be worth
about HALF or $500 a month in purchasing power. Inflation of 3% is assumed in
Vanguard’s projections so you understand that if you use bonds or CDs paying 3%
a year as your investments, you will have NO real gains in 20 years. Only
stocks with 10-12% total return can overcome inflation. Compounding is the
name of ‘money earning money on itself’ when invested in companies like those
in a low-cost
market index fund. Compounding is how you can reach a $1,000,000 nest egg by investing
$250 a month for 35 years. It is TIME,
not stock-picking that wins according to Warren Buffett. When you avoid
high-cost advisors, you earn
11% not 3.79% the average for ‘managed’ money.
What you own in your 401k stock fund
Many 401k participants make their contributions to low-cost stock
index funds or Target-Date index funds. What do you really own? You own
shares of a fund that owns stocks that make up the market. You own them through
your share of parts of these firms:
1 Microsoft
Corp.
2 Apple Inc.
3 Amazon.com
Inc.
4 Alphabet
Inc.
5 Facebook
Inc.
6 Berkshire
Hathaway Inc.
7 JPMorgan
Chase & Co.
8 Johnson
& Johnson
9 Exxon Mobil
Corp.
10 Visa Inc.
Over time, you receive gains and dividends that provide a
total return of 10-12%. In this manner, you can accumulate $1,000,000 with as little as $16,000.
All it takes from you is patience.
As Buffett proved in his win
over 5 hedge funds, no person or computer can foretell the future. Buffett
used John
Bogle’s invention to win: “Don’t look for the needle in the haystack. Buy
the whole haystack!” And the haystack gives
you more!
Are you willing to wait for your $1 million?
You can accumulate $1,000,000
with as little as $16,000. All it takes from you is patience.
But most of us have no more patience. Three quarters of those surveyed said
they believe the dominance of digital technology, such as smartphones and
on-demand TVs, are to blame
for this ever growing lack of patience. Respondents reported becoming
frustrated after just 25 seconds of waiting for a traffic light to change. Life
moves at such a fast pace, we just don’t believe that it is TIME,
not stock-picking that beats expensive money managers. Very few of us
believe that just by avoiding high fees and trading, you can earn
11% not 3.79%. The facts and actual results don’t make an impact on most
investors. We don’t learn about compounding in school so we assume saving in a
high-interest bank account is the only way to become rich. Actually, the rich
keep 60% of their assets in stocks compared to only 18% for US. Fidelity
studied their most successful investor accounts: Best were forgotten—never traded,
hedged, rotated,
or churned. If
you were running a business, you would NOT sell (trade) it every 6 months or
year. You would keep working it to be rewarded over time. Like Buffett, just
buy and buy more: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268
Is a Health Savings Account right for you?
First, you must buy a high-deductible health care policy
from your employer: Deductible must be over $1,350 for individuals and
$2,700 for families. Second, you need to have the money to establish and
maintain a special
savings account for your medical expenses. It is tax-advantaged so to help
you, you must have sufficient income to need a tax deduction. Your employer can
make the contributions for you. While your 401(k) contributions are subject to
Social Security and Medicare taxes, contributions to your HSA are not. If you
have HAS money left over you can let it grow year after year. After age 65
there is no penalty on non-medical withdrawals. Third, your HSA institution may
charge fees. Fourth, depending on your medical expenses, you may pay more for
health care coverage than using a traditional plan.
Compare your total plan expenses: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Converting IRA to tax-free Roth IRA?
You can amass a sizable tax-free income later in retirement
by paying the tax due on your IRA, moving the money to a Roth IRA so that
future earnings are tax FREE. There is no withdrawal penalty if you begin after
age 59.5. However, after age 70.5 you must take certain annual amounts from
your IRA so Uncle Sam gets the income tax you didn’t pay during all those
accumulation years. It is called your RMD
and it amounts to 3-4% of your overall IRA total. If you take it as monthly
income, according to the IRS formula, be aware that the RMD must be recognized
BEFORE the IRA conversion can take place. The RMD amount is first out in any
given year. So if you take $2,000 a month as your $24,000 RMD, you can’t take
$10,000 to convert to a Roth in the middle of the year.
Make a careful plan: https://www.amazon.com/What-your-RMD-does-how-much-spend/dp/1718946716
Can you really save with ‘behavior’ car insurance?
Since everyone is different, we can’t tell without trying
it. The app down-loaded to your phone records HOW you drive for 2-3 weeks. Hard
turns and quick stop and go driving will dissuade from the low-cost rates. A
quiz sets up the coverage you want. You get a quote: usually if you are an
infrequent careful driver, you win. You must live in a state where it is
available. Most large insurers offer some form of behavior-driven coverage.
Savings depend on a host of other policy options.
Ask for all discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
**********
This period is a test
of democracy—do we really want it or not?
"Never in my life did I
think I would
like to see a dictator but if there's going to be one I want it to be
Trump."
How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!
Congress
fails to stop guns and drugs from killing us: What do they do all day? Dial
for $
The longer Congress
waits to fix the warming the more
taxes it will cost to fix.
Trump
gives Saudis our forces: we already gave them planes and missiles—let them
fight
American’s income is growing farther apart: Average
worker’s income has not grown!
More
welfare to Trump’s people: $28 Billion plus wasted in global competitive
market!
Each state wastes $
millions: claims it ‘created’ jobs: NJ
shows how Christie did it.
What happened to Trump’s Taliban ‘deal’: $2
TRILLION wasted so far
Trump's
wall is 'totally absurd': Congressman climbs over to show how easy to
scale.
Trump’s airport
guards hold NJ mayor & family for 3 hours: his phone for 2 weeks
Obama’s
HHS gave $227 million to states that lied about child needs: AL
SCAMS/SPINS:
We
can’t avoid tax on retirement funds just by not cashing check: ‘Dog ate it’
not excuse
Trump rolled back legal
clock to the 1860s: Destroy
13th, 14th, 15th, Roe, Voting Rights
Is
this a mob boss’s deal?: “do us a favor” “Attorney
General will call” “about Biden’s son”
Scammer
uses Facepage pic to trick us about govt grant and giving them money.
Unlicensed
advisor Marcos Tamayo cost only $300 a year: doing right by his clients?
Six annuity sellers caught
replacing deferred annuity with immediate: cost $1.8 million
BEWARE: Brokers
pushing ‘calendar risk reversal’ options—bet only what you can lose
Hidden
costs of ETFs: these index funds are not always cheaper than the traditional.
Chris Kubiak caught
stealing from elderly clients in Ponzi-type scheme: 2 yrs jail time.
Christopher Fulco caught
stealing $1.6 mil fake statements/firms to elderly: no jail
Sprint caught
taking subsidies for low-income Lifeline service not being used
Chrysler Fiat caught
lying about emissions AFTER gov indicted VW
Fair Collections
& Outsourcing caught
false loan collection practices & statements
Match, Tinder, Cupid
caught
using fake ads to trick us into subscriptions
David Rourke Jarrod Sherman
caught
selling stock in firm they had financial interest
Boeing 737
inspectors were NOT
really qualified to test pilots: led to 346 deaths
BEWARE: your ETF
could disappear: 25%
have folded; 7% lost big; fees hurt
Joseph Pratt caught
insider trading on clinical trial info w/o notice to Wells
Trump to cancel
$235,000 Duke grant: not
enough emphasis on his fav religions!
Jobs
Community
College for the 1st year to get used to the routine of costs,
class, study, work.
Who owns your account now?
ME to let
customers decide which cable channels to buy: industry horrified by choice
Trump
to end CA IRA: employers want to help workers save but broker fees left
out.
Review: Vanguard
new robo investing service is low-cost automatic investing
IRS
is looking for your amended tax return: virtual currency needs new
reporting.
Trump:
broker/advisors beat you in any dispute: you
can’t sue if you are mistreated
But
Trump sues NYState—no mandatory arbitration for him! No rights for us!
Miracle:
Another
16 year old picks up VW for life: "I just thank God
for putting me in the position and giving me the strength to do that."
Teach
kindness: mindfulness and kindness actually alter the behavior of genes: mind
therapy?
IAN
41 Watchung Plaza,
B242
973.746.2014
Alerts available
at http://dankeppel.blogspot.com/
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