How to get your 401k to $100 million
Obviously, we’re not talking about your 401(k) plan. There
are limits to how much you can contribute to a typical 401(k) plan
each year. But there are a
few workarounds that the rich know about and participate in
regularly. The best way to take full advantage of a 401(k) plan is to be
self-employed. If your wife is an employee of your business, then each can
contribute of up to $56,000. That’s
$112,000 for the two of you. The full amount of the contribution will be tax-deductible
to your business. $112,000 every year is a big tax deduction. Meanwhile,
the investment income accumulating within the plan is tax-deferred. Also a Roth
401(k) allows you to hedge against future higher tax rates–a not unlikely prospect given the 2019 $1 trillion federal
budget deficit. With a Roth 401(k) contribution, you’re paying your
taxes now, at today’s comparatively low rates. Later when you take your
retirement money, you can take it tax-FREE or let it grow. Roth distributions
are NOT subject to RMD withdrawal rules. Great for your legacy.
Why we can’t afford
retirement anymore
A new
study shows the average compensation of CEOs in the largest firms was
$16.3 million in 2014, up 3.9% since 2013 and 54.3% since the recovery began in
2009. More impressively, from 1978 to 2014, inflation-adjusted
CEO compensation increased 997%, a rise almost double stock market growth
and substantially greater than the painfully slow 10.9% growth in a typical
worker’s annual compensation over the same period. So, the CEO-to-worker
compensation ratio was 303-to-1 in 2014, lower than the 376-to-1 ratio in 2000
but far higher than the 20-to-1 in 1965 and any time in the 1960s, 1970s, 1980s,
or 1990s. Our taxes went up while theirs went down: More of us pay 32.9%
compared with less than 20%
that the wealthy pay. As Buffett pointed out, he pays only 17.7% with
no tax shelter. Corporations like Apple,
Google, Amazon, Boeing, and GE have overseas
shelters to hide their incomes. So 2/3rds of all businesses pay $0 tax.
Plus we taxpayers must subsidize
many profitable businesses like oil, gas, agribusiness, air carriers, energy etc. Many aren’t even American.
It is time for the wealthy to contribute to this society like they once did. We
need a tax shelter too. The American
Dream is fading.
Use your tax-free account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
How much is $20
worth in retirement?
It is hard
to visualize how quickly your money can grow when you invest in the stock
market using a low-cost index fund. In a simple stock index fund like Vanguard’s 500
Index, your 401k contribution of $20 per week can grow to $400,000
by the time you need it. In 500 businesses, your $20 a week produces
dividends and increases in value over time. You don’t see it in the first year
but it is clear in this chart,
which can be translated
into a picture of what you will have in the future. When you receive a 401k
company match, you can double your money for FREE. When you allow a person, be
it an advisor/broker/agent to take 2% in fees and market timing, you
give up about HALF what you could have had. That is because the average
investor using a managed account earns
just 3.79% over time instead of the S&P 500 index 11%. Using a low-cost
index fund with no
income taxes, you can count on more for later even when you can’t see it.
Use the Buffett
strategy: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
Why doctors
prescribe higher-cost drugs than equivalents
Over half of
all US America US
Check out your doc: https://openpaymentsdata.cms.gov/
Why we need one size
fits all health care coverage
People are so
confused about the costs covered by their health insurance that they're
avoiding medical treatment. Polygenius survey found that 27% of respondents avoided
medical care or treatment because they were unsure of what their insurance
covered. The annual survey found that more than 85%
of respondents didn't know the basic benefits that health insurance plans
must cover under the Affordable Care Act, up from 80% in 2018 and 78% in 2017. "The
survey data suggest the reason people avoid care is because they don't
fully understand their insurance coverage and would rather avoid a surprise
bill.” For example: my provider ‘group’ sent me a bill for part of my
colonoscopy. I sent them a copy
of the ACA regs since I fought a bill last time and didn’t pay a dime.
Didn’t matter, they put the bill to their collectors. I finally wrote the CEO
of my insurer asking him to fix it. His office called and I gave them the
number of the provider ‘group’ billing located in another state. They got
through and Karen of ‘group’ admitted I was right and she would cancel the
collection. Most people are NOT in the business and don’t know about free
screening tests: that is what the ‘professional groups’ are counting on to take
more money from us. Last time, a surprise bill from a guy I never
interviewed for my test sent me a bill. I just sent it back and he gave up. The
‘group’ never heard of him either. Scammers know Trump will not defend ACA so
they know they will not be caught/jailed
Is an ‘online
installment loan’ right for you?
Remember the bad
headlines for the ‘payday lending’ industry? Many alternative credit providers
soon began generating the bulk of their revenue from installment rather than
payday loans. Yet the shift came with a major consequence for borrowers. By
changing how customers repaid their debts, subprime lenders were able to partly
circumvent
growing regulatory efforts intended to prevent families from falling into
debt traps built on exorbitant fees and endless renewals. Instead, families in
need can borrow more than $2500 for longer periods up to 60 months. Of course,
once trapped, families pay rates between 34% and 155%. Payday lenders are now
better off with larger balances and more revenue than ever before the regs.
Lenders pray on those hit by medical bills or a job loss. The surging
popularity of online installment loans, combined with a growing ability to tap
into big data to better screen customers, has helped boost the fortunes of many
subprime lenders. The Trump administration’s decision earlier this year to
delay and potentially weaken planned restrictions on payday lending that were
announced in 2016 has also bolstered the industry’s outlook. Trump loves debt—he
never pays his.
**********ACCOUNTABILITY**************
Like 1776, this period
is a test
of democracy—do we really want a Tzar
as prez?
Elijah Cummings: We
are in a fight for the soul of our democracy.
Gen “John Kelly can’t handle the
genius of our great President.”
How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!
Trump
gift to wealthy raises deficit 26%: Sending gift to tax havens: no
new factories
“It
feels like a horror movie”: Republicans feel anxious and adrift defending
Trump.
Trump
is special!!: only 4 POTUS impeachment votes in history—end in sight.
Trump
to shut govt to shut impeachment process: No hearing hall; no impeachment!
Trump ends ACA: states
can opt for policies charging more for pre-existing; junk cover
Keystone Pipeline leak in North
Dakota
SCAMS/SPINS:
Trump offers pardon to Giuliani’s
associates who collected foreign money for election?
al-Baghdadi raid: Trump
tells Putin before Congress “to keep it secret.”
Senior Living
Satisfaction Study: Life
Care Services wins
Driverless cars
could actually lead to more traffic
congestion
Handless car doors
can kill: Doors
don’t open for firemen without fop in burning hand
Sounds good, BUT Auto-braking
does not work on all cars: check yours or drive self
Ram Recalls 107,898
Diesel Pickups Due to a Fire
Risk
Where are the
‘middle-class’ tax benefits?: Most
benefits floated to the Top 1%
And
the Top wants more: World's Most Expensive Bank Limits
Staff Water To Cut Costs
Sellers of 403 457
school pensions caught
high fees/deceptive sales SEC review brokers
James Edward Lyons caught
selling oil gas MLP without approval: lost $3.2 million
Ronald J. Knight NY
Life caught
cheating reimbursement forms: defrocked
Cindy Chiellini
Ricky Mantei caught
selling structured CDs no super. complaints
Jay Ledford caught
stealing $345 million in Ponzi was sentenced to 14 years
Trump can’t even go
to game: Vets
for impeach; fans yell “lock him up”
and booos
46% of US are
still fooled by this con man: are we stupid
or just dangerously
desperate?
Ivanka
thinks father treated poorly like Thomas Jefferson: Trump had slave
children?
Congress
subpoenas can be ignored: is that for everyone or just the Czar’s Chosen
Few?
Jobs
Walgreens
will shutter nearly 40% of the clinics in its stores as it cuts costs
IRS:
employers
can stop giving insurance for employees: instead pay workers to buy
TrumpCare
Keep
working longer hour--avoid wasted time at store: Amazon
delivers grocery free with Prime
Trump
got his own personal pastor: recruits evangelicals for political work
Boy
scouts raising member fee to $60: covers sex abuse by
adults but the adults pay only $36
Who owns your account now?
Fiat
Chrysler and Peugeot owner PSA are in merger talks: Jeeps made in French Guiana?
Miracle:
Another coal miner
Murray bankrupt despite
Trump cancels environmental regulations.
Wildfire prep kit: https://www.latimes.com/california/story/2019-10-28/california-wildfires-how-to-prepare
TB vaccine "It
could save more than 600,000 lives per year" Phase 3 trials early
stages.
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