Why starting investing early earns 10 times contributions

Why starting investing early earns 10 times contributions

$250 a month, $3,000 a year, gives you $995,000 in 33 years, IF you invest in a low-cost stock index fund in your 401k or Tax-FREE account. $3,000 for 33 years is $99,000. If you keep adding your stock dividends automatically and don’t stop compounding in the same fund, even when it goes down on paper, you end up with about $1,000,000. You don’t do anything else with your money. If you start late, add more each month. This investment strategy is recommended by Warren Buffett, one of the greatest unbiased non-commission advisors in history. You don’t manage it or let anyone else touch it. They will take your earnings and you are left with 3.79% not 11%. A fee and commissions can take up to 63% of your accumulation over time. You alone earn about 11% over time—not every year. Some years you earn 30% and some you lose 30%. However if you invest like Buffett—no selling or trading—you average 11%. This is not a buy and sell, ‘sector rotation’, or ‘buy on dips’ strategy. It is the “snoring” strategy. Let compounding work.

Use the snoring strategy: https://www.amazon.com/Warren-Buffett-Millionaire-money-snoring/dp/1508887381

Tax return due July 15: Extension automatic with form

If you could not meet with your preparer and can’t complete the online tax return using one of the FREE software programs, you can obtain an extension to October 15 just by filing a form with an estimate of what you owe. IRS wants the money—the return can wait—since they have 3 years to find any errors. Fill and print and pay form:  https://www.irs.gov/pub/irs-pdf/f4868.pdf

If you cannot pay now, sign a payment plan so you pay over time. Since millions are out of work, this is expected to be big solution. It is unclear what your interest rate will be.

Pay no taxes in retirement: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

401k company match suspended?

If you are one of 12 million workers who have had your future retirement fund reduced because your firm has cut their 401k company match, you can still reach your goal. Your tax-advantaged plan must be modified, at least temporarily. If your current income allows it, you can continue to grow your retirement fund by starting a tax-deductible or tax-FREE IRA account. With a regular IRA, you do not pay income tax on your contributions now. With a Roth IRA, you pay income tax at today’s lower rates so you receive tax-FREE income in retirement. Most advisors think tax rates will be higher in the future so you will be able to pay less tax on your IRA distributions. Depending on how much your Roth IRA fund grows, you may be able to reduce your taxable income significantly so that your Social Security benefits are less or not taxable also.

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

Deducting your work-at-home expenses is difficult

Trump eliminated the deduction for unreimbursed business expenses and home office in 2017. The previous tax law allowed the federal write-offs for unreimbursed business expenses and home offices, along with most other miscellaneous itemized deductions. So if you had to upgrade your laptops, ergonomic chairs and high-speed internet, you might want to check with your employer. The federal tax code lets employers reimburse employees for costs that are reasonable and necessary for them to do their jobs amid a disaster, and the Internal Revenue Service has said the pandemic qualifies. Self-employed folks take these and other expenses as a reduction in revenue before income is taxed. That is how our President gets to boast that he pays NO income taxes.

America has officially become a socialist country: socialism for the rich

In March 2020, our Federal Reserve, the US central bank which creates money gave its Power of Attorney to mutual fund firm Black Rock to buy stocks and bonds with our money. Like Russia, our government will now own businesses that may fail. It has already purchased the debt of US companies in trouble or on the verge of failure. This makes it likely that business people will have no reason to act prudently with their (our) business assets and senior staff salaries. Like the investment banks in 2007-8, they know that they are “too big to fail.” They know that we taxpayers will keep them afloat even if they are not good business or money managers. This has happened recently when the Fed started buying bonds—debt of certain companies that had made poor decisions. I know, most taxpayers still think America is a capitalist country. We were founded on the idea that if a business failed, it would NOT be kept afloat by the government—the investors who own the company would lose their money, not us. Now the GOP-backed Trump regime is doing just what Putin does—using the people’s money to help out businesses owned by Putin and friends. If the stocks and bonds owned by the Fed fall in value or are worthless in the future, we taxpayers will still have to pay the interest on the money borrowed to buy them. The Fed is America’s investment bank account. 

Avoid taxes to float bad business: https://www.amazon.com/Americas-Socialism-for-Rich-little-people-pay/dp/1535218584

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

Mobster plans to void 2020 election

Mobster PR firm: “the coolest president ever.”

 Mobster frees felon before prison 

Mobster must give NY all tax returns: not above law

But not before election

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

National Garden: statues of “Billy Graham?, Antonin Scalia?, Joshua Chamberlain”? Christopher Columbus, Junipero Serra, Marquis de La Fayette, not Americans

Without taking action, Congress takes 2 week vacation from US: Prez happy talk

Trump donors got $273 million of virus federal aid meant for small biz

Congress people take virus federal aid meant for small biz too: double dipping

Wealthy investment firms took virus federal aid meant for small biz too

GPB Capital alleged Ponzi firm took $million in virus fed aid after poor management losses

Trump press secretary parents took $1 million virus federal aid meant for small biz

Trump Friends and Family Cleared Millions in Small Business Bailout

Wealthy entertainers took virus federal aid meant for small biz

Catholic church took $1.4 BILLIONS virus federal aid meant for biz: church not biz taxfree

Trump force schools to open with virus: political strategy for election: cut funding

Follow virus aid guidance from the Small Business Administration and the Treasury.

SCAMS/SPINS:

"National Garden of American Heroes," "statues of greatest Americans to ever live."

“opponents of national socialism or international socialism”? Trump inducts self as hero

Terrorists with assault weapons converge on Gettysburg believing another conspiracy hoax: fake

Gun Sales are Off the Chart: racist GOP raising fear levels; virus chaos; racial protests

My Loan Doctor caught deceptive acts or practices: took $15 million from 400 CD buyers falsely 

Timemark solutions charged illegal advance fees: loan terms change in federal student-loan debt

Quest Diagnostics 401k caught excessive fees on Fidelity actively managed target-date funds.

Law firms for the wealthy take $13 billions of virus money meant for small biz.

nine brands sanitizer to avoid because they contain methanol: FDA says dangerous.

All Clean sanitizer recalled: methanol is dangerous

New Balance cat food recall

Android apps that steal your personal data: Google can’t keep up with bad actors

Trump niece stunning book sales: he had a hard life growing up and that is all he knows

Payday lenders no long determine if borrowers can repay with interest: Trump donors win

Eviction threat rises as virus threatens reopening jobs: Check your rights; note intimidation.

Our credit history ruined by mortgage servicers: gave fake virus payment extensions April May

Jobs

Ohio is extending unemployment benefits another 20 weeks

at-home coronavirus testing kit approved Ohio Kroger workers are first to get it.

Employers can discriminate on women all they want: Supremes: no birth control equality.

Money managers losing the rich: outsized fees--1% assets no matter how manager does

Who owns your account now?

Appliance Brand Reliability Rankings: Miele, LG leaders in most models

State Farm cuts auto insurance rate in LA by 10%: starts August

Mortgage pre-approval required by some home sellers: saves virus exposures

Miracle:

"Walk With Shawn" 300 neighbors show up so Black man can walk without being shot by whites

Artic meltdown: no one “expected the changes to happen as fast as we are seeing them happen.”

1 in 3 dog owners would choose their pet over their partner Amazing

30 Czech volunteers make functional ventilators in days from common materials we paid $59,000

Supremes invalidate electoral college: electors can NOT pick Trump over real voters as in 2016.

Supremes give HALF of OK back to the original owners: Muscogee Nation gets back rent?

IAN

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