Your Unbiased Advisor: October 2020

Friday, October 30, 2020

tax-FREE retirement income

Make your retirement nest egg tax-FREE

Because the wealthy have many ways to avoid paying their fair share of taxes, we will have to carry double the burden for the rest of our lives. Exhibit 1: Trump paid $750—paying more to China, Panama, India, Philipines, etc than to US. Not only do the wealthy avoid paying taxes, the corporations they own have paid $0 taxes for many years. So are there any LEGAL accounts we can use to avoid taxes, especially during our more vulnerable years in retirement? We can’t live on Social Security benefits alone so we need to make our savings and pensions worth more—FREE of tax obligations. There is still a way for us to avoid having to pay off the federal debt ourselves. We will have an extra 20-25% in retirement income when we need it. This legal saving and investment account costs little: free of lawyers, accountants and money manager fees. We don’t have to go offshore, use fake empty shell entities, or play accounting tricks to have more income later. The account is approved by the IRS so we don’t have to fear an audit.

Make your income tax-FREE: https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072

Give your child a leg up

Investing is about TIME: starting early can create a tax-free $1 million Wealth Reserve for your child’s security. Yes there are self-made millionaires but the real money is in family legacies over time. Think Rockefeller family. Most of us don’t learn about the Time Value of Money until it is too late. $100 per month in a tax-free account is worth over $1.6 million after inflation in 65 years. How can $78,000, invested over time produce $ millions? When you invest for your child, you are loaning profitable corporations your money. They share the profits as dividends and increases in value over time. “Over Time” is the critical part. Because we can’t predict the next Apple to invest in, we invest in many large profitable companies. Over time, studies show a low cost index mutual fund provides growth of 11% a year. Why “low-cost” is important? Using a middle person can rob us of 2% per year in growth. The myth of Wall Street is that we need middle people to make successful investments. We now know that means we give up 63% of possible accumulation with no guarantee Wall Street will make us successful. Give your child a leg up—start your family legacy today while stocks are down (on sale)

Create a legacy: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

What are your biggest investing mistakes?

No matter how much money you have saved/invested, your mistakes could be the same as those of the wealthy. In a recent survey, they said they did not seek guidance and looked at historical returns. In the past, they said they did not diversify their portfolio and did not have a financial plan. It is very true that times change, but the basic capitalist world still exists. Stocks still earn more than bank CDs, especially in a crisis. The Harvard endowment, valued at $41.9 billion, returned 7.3% in the last fiscal year. You are still better off with a diversified stock/bond portfolio than a money market account. What does Warren Buffett advise? His advice is NOT biased by fees, commissions, kickbacks, broker vacation trips, prizes, packaged-product bonuses, etc.

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

GOP’s idea of socialism

Our Federal Reserve, our central bank, is buying trillions of assets to keep wealthy investors wealthy and struggling firms alive. We will be paying the interest for our lifetimes while the investors and managers will be taking the gains. This is the essence of socialism: Private gain, public loss. The Fed has propped up the prices of corporate and municipal bonds, and bailed out “airline bondholders.” According to conservative George Will, “the pandemic has propelled government toward promiscuously picking economic winners and losers. Instead of giving 3.7 Trillion to the rich, we could have fixed our crumbling bridges and saved $ millions in unemployment comp. Meanwhile our ‘leaders’ ignore 30 million who are out of work. And execs of big companies give themselves $ million bonuses while screwing workers, suppliers and investors with bankruptcy. Private gain; public loss: profiting from their own mismanagement crimes, the American way!

Socialism for the rich: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

How can we beat the Wall Street “professional” players?

We don’t have super computers, talented analysts, large leverage or fast traders. We only have the facts of investing like Billy Beane did in baseball. He knew he could not afford the famous “professionals” so he listened to a man who knew the facts about how wins happen. He learned that steady slow growth won over a long season. His “expert” scouts quit—his coach did not use his picks. We can win. First, we acknowledge that we have no budget for investing. We can't afford the hedge funds, offshore tax shelters, and expensive Wall Street money managers taking 2-3% a year. We use the strategy of the long-term master, Warren Buffett: We beat the famous over-paid Wall Street stars.

https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

Why it is so hard to save for retirement

We don’t make enough money. Since 1980, worker wages have lagged productivity increases. Businesses have found ways to increase their gains while paying less for labor. Since 1979, productivity has increased 69%, while wages have increased 11.6%. Before 1979 wages increased with productivity after WWII. The middle class especially skilled blue collar work in factories paid well enough to buy a home, have children and save for retirement. The American Dream was realized for unionized white skilled labor. More modern and efficient business processes changed all that. Many middle class families had to start working more hours and enlisting both husband and wife for the same real income level. Education replaced skilled labor as the business management became sophisticated. For instance, in the 1980s I had to type my own reports, answer my own telephone, automate information systems and do my own budgets. The “good old boy” salesmen were out and modern statistical marketing was in. In 1976, the new American retirement system was born. It got better in 1997. It can provide tax-FREE income.

Start now: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

Why child life insurance is NEVER a good deal

Most of us have received a flyer in our junk mail, Sunday paper or online adverts for child life insurance. The selling “hook” as they call it is simple: buy life insurance now while your child or grandchild is healthy or young. It’s cheap and no tests. When my parents were first time parents, this kind of insurance was purchased as a substitute for saving/investing too. This type of policy grew out of the time in our history when many kids died. Families were larger because farmers needed a lot of free manual labor. Unfortunately, the pitch still works for some insurers and they are making a ‘killing.’ One company in McKinney, TX took in $4.304 billion in 2018. Few parents collected the $30,000 death benefit because very few kids die today. Plus how many parents want to make money from their child’s death? So instead of spending $25 on a policy that makes sure they get “coverage in the future,” use the money to help pay for their education. There are insurers for every illness or accident that may happen. Most young people can buy a $300,000 benefit for $10 a month by age 30. Children don’t need it; you do.

https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

Is a deductible IRA contribution right for you?

The rules changed for 2020: IRA contributions after age 70½ are permissible.

The SECURE Act repealed the age restriction for Traditional IRA contribution eligibility. Effective for 2020 and later taxable years, individuals with earned income can make Traditional IRA contributions at any age, not just for years before reaching age 70½.

For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs if you have earned income. If you had self-employment income or W-2, that income qualifies. If your spouse had income and you did not, that qualifies too with some limits depending on participation in a retirement plan. Spousal IRAs: If you file a joint return, you may be able to contribute to an IRA even if you didn’t have taxable compensation as long as your spouse did. Each spouse can make a contribution up to the current limit; however, the total of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the Kay Bailey Hutchison Spousal IRA Limit in Publication 590-A. If neither spouse participated in a retirement plan at work, all of your contributions will be deductible. The annual contribution limit for 2020 is $6,000 or $7,000 if you're age 50 or older. For many of my tax clients, this means they can reduce their income and thus their taxes for 2020 due April 15, 2021.

Alternative tax-FREE IRA: https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253

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

Like 1776, this period is a test of democracy—do we really want a Dictator?

Supremes decide election … again?

Dictator: “It’s going away.”

Dictator’s chief: “It’s out of control:” 230,000+ dead

Dictator: F*ck Obama: “It’s America’s last climate sanctuary.”

Dictator: “I am the only one who can make America truly great again.”

Trump wins: have mail delayed and have Supremes void all votes received after Nov 3!

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy!

TX using armed troops to intimidate Dem voters in 5 cities

Movie moguls ask Congress for bailout too

Trump biz soaking US $ millions for his $3 glasses of water, bed, snacks, guests, friends

We pay $375 million for virus antibody: $1,500 ea and don’t even know if it works yet

TrumpWall maintenance costs TRIPLED: military suffers; no bid vendor is T’s donor

SCAMS/SPINS:

Why no Americans are concerned about facts: trust comes from integrity

Even with a job, we are worse off now than in 2008 recession; more folks tap savings.

Can Republican Party survive the election: party with only Trumpism as its principle

HALF the 2016 total already voted: crisis: will GOP Supremes make Trump president?

Federal crime to delay mail: why is Postmaster not in jail? Trump’s Supremes stop count

GOP 5-3 Supremes back WI GOP cut in vote counting due to Trump’s mail delays

GOP 5-3 Supremes back AL GOP ban on disabled curbside voting law: vote or die?

GOP has been packing state Supreme courts for years: MS abortion ban decided

Jared’s plan for Blacks: “they have to want to be successful”: like my pa’s $billion legacy

Social media scams to change our attitudes: “fake tweets are extremely easy to produce”

Trump delivers health plan to 60 minutes: thousands of exec orders, proposals NOT plan

Immigrants help economy/community: Trump wrong on immigrants’ behavior

Domestic terrorists buying now: 20-fold jump in sales like $220 gas mask, AR15s, etc

15 million more guns 2020: suburbs fear domestic terrorists; teens with AR15s; Walmart

Recession is over for high-wage workers: just starting for 30 million “essential” workers

Trump to cut 12,000 “best brightest from around world” visa doctors treating virus, etc

Trump Kodak loan scam: Jared’s bud gets exec order to use our money for bonus deal.

Carrier given $7 million to keep jobs here: 17 more IN firms have sent jobs overseas.

Foxconn’s $10 billion WI plan create 13,000 jobs: actual 520 people only $300 million

Trump’s SEC will NOT safeguard investors from risky funds: leverage can double losses

Kanye West was inspired by God to be the "leader of the free world": Trumper’s alert

Trump’s own religious cult grows without masks: “patriot” churches blaspheme God?

Trump’s new show: “I’m The Apprentice” –You are fired!

Electric cars can catch fire: each maker has problems

Accidents by Teslas still driver’s fault: “No vehicle is capable of driving itself” anywhere

Tesla recalls ‘13-’18 S, X 30,000: suspension connecting rods may break

Best scams for this time of year: know your situation and how scams work

Scam with fake Barclay phone number: enter number in https://whocallsme.com/

Low VA Rates caught misleading, false info in mortgage offers to Vets: fine no jail

Trump building scam costs investors $270 million: forgiven debt usually taxable but not T’s

How Trump avoids taxes we have to pay: detailed analysis

Trinity Healthshare caught misleading of “full” coverage; many contracts NOT insurance

Facebook Twitter scam adverts blossom: no vetting; anyone can scam

Anthony Robinson caught scam accidents with big rigs for insurance: lawyers doctors too

7 guys caught in “pump ‘n’ dump” microcap stock cold call: no jail, no fine, letter to stop

Homeowners beware: some insurers using unlicensed adjusters to cut expenses: oversight

Home warrantees: costs may exceed benefits since you can’t know lawyer caveats

Is it a scam? Check AARP scamline 877.908.3360.

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

Jobs

Need infrastructure jobs program: 10.7 million jobs short of pre-pandemic level.

Thinking of starting SS benefits? Check rules on losing benefits while working

2021’s top 10 best-value colleges and universities: cost is a factor

Claim ALL your unemployment benefits: each state has rules, process, forms, etc

College application process tips: save fees, testing, virus alternative 1^st year

Who owns your account now?

Hospitals that deliver superior patient outcomes within 16 service lines by state

Claim your benefits from old insurance/annuity left by relative: $ may be tax free

Business-interruption lawsuit payout just approved by NC judge: most suits denied

Miracles:

14 year old Indian-American discovered new potential therapy for Covid

GOP 6-3 Supremes primed to reverse US back to 1950s: abortions illegal, dirty air, no wildlife reserves, no voting rights, 0 immigrants, no health care, red-lining housing, no interracial couples, Trump self-pardon, cancel IRS audit, no gays, discriminate by religion, decide our elections, dismiss suit Trump as rapist, etc

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Friday, October 23, 2020

Are your financial biases risking your future?

Get to know your financial biases for a more secure future

What are the Fundamentals of behavioral finance? First: overconfidence bias. New investors make a killing on one of their first trades and now they feel like Masters of the universe. Self-deception means we miss information vital to making informed decisions.

Second: Over-simplification means we think “investing is simple—just do what we did before.” Some people try to mirror an action they read about like buying Coke because Warren Buffett owns Coke. Third: Emotional decisions. Some folks hear about a fantastic money-making scheme and avoid doing their own research. Internet chats tell them to buy Vietnamese Dong and check the site for the signal to sell. Fourth: Social pressure means you hear that the “smart money is selling health care stocks short.” That advice may have been accurate last month but not now. Learn more about your biases here. Remember, the middlemen only make money when you buy or sell. It is your money!

https://www.amazon.com/Fact-based-Investing-first-million-hardest/dp/1977574270

Is a health savings account right for you?

When health care needs are NOT great—you both are in good health—this kind of account lets you save money in a tax free account. You may accumulate funds until you need them year after year—even later in retirement. This account may be set up IF you can buy or your firm offers a high deductible health care policy. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums. While you can use the funds in an HSA at any time to pay for qualified medical expenses, you may contribute to an HSA only if you have a High Deductible Health Plan (HDHP) — generally a health plan (including a Marketplace plan) that only covers preventive services before the deductible.

https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Many wealthy people want to copy Trump’s $750 tax bill

“Why can’t I do that?” Less than 0.5% of very high-income households paid as little tax as President Trump in 2016. Few of us of any income can match Trump’s avoidance methods. With median incomes (AGI of about $50,000 to $75,000), only about one in 10 paid $750 or less. 45% of those middle-income households paid between $5,000 and $10,000 in federal income tax. People who know about taxes think that Trump took questionable deductions. Trump has special legal entities to avoid taxes. Real estate development is especially ripe for cheating—almost anything can be considered an expense in the real estate biz plus depreciation on buildings provides extra large deductions. Also Trump has turned his business failures into huge tax benefits. Most of us cannot deduct the huge real estate loans he used to develop properties that failed. If we go bankrupt, we can’t deduct the loans like he did. His accountants have used questionable techniques in that area according to some experts. For instance, Trump used special appraiser friends in inflating the value of his ‘woods’ to produce a tax avoidance of $21 million. Trump has left a low-cost method of tax avoidance for us in current IRS rules.

Use the IRS approved tax-FREE account for working people: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Are you ready? Social Security will cut benefits in 10 years

Social Security Trust Funds are expected to see shortfalls starting in 2031, three years earlier than expected, according to a new forecast from the Congressional Budget Office (CBO). Without Congressional intervention to shore up the funds, the SSA will need to cut benefits to retirees and beneficiaries as much as 25%, CBO said. With the loss of revenue from GOP tax breaks to the rich, Covid pandemic economic effects, and low interest rates, most smart investors are expecting less retirement income. For those who have at least 10 years before retirement, savvy investment moves could offset the loss of SS benefits. We don’t know what will happen to the market in the future, but we do know fixed income CD rates of under 2% won’t help us. The only inflation killer is a portfolio of stocks. Despite the fall in prices in 2007-8, those who held on did great—earning 13.58% per year over 10 years; 11% per year since 1976. If you start now, you will have enough for retirement since no one takes ALL their money out of stocks when retirement begins.

Avoid the cuts: https://www.amazon.com/Your-Retirement-Spending-Plan-have-enough/dp/1461084016

Need to save money? Save over $3,500 a year

When returns on investments are low, paying your advisor’s fees can rob you of over $100,000. If your investments are earning 6% but your fees, commissions and expense ratios total 2%, your account will grow HALF as much as it could have over time. Example: You invest $250 a month for 35 years with costs of 2% per year. You end up with only $229,194. If your 6% a year on average only cost you 0.07%, you would end up with $352,216. That is $123,022 more—HALF again than with advisor fees. You can always hire an advisor when you have a problem. Your advisor pockets the $123,022. Most of us are correct in assuming advisors are a luxury item. We can’t afford to give away that much of our nest egg. Plus it could be tax-FREE, adding ¼ more.

https://www.amazon.com/Tricks-Trade-Save-Mutual-Funds-Insurance-Annuities/dp/1535497289

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

Like 1776, this period is a test of democracy—do we really want a Dictator?

Supremes decide election … again?

“Follow the money”

Dictator to terrorists: “Stand by” We will see [if I leave WH]

Dictator: I’m not inciting terrorists, just “having fun”

Dictator: “I just start kissing them” 19 women

Dictator: Plan to eliminate FBI, jail opposition

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy!

NASA putting 4G network on moon: many kids can’t do online school here lacking 1G

Trump blocks CDC guidance on masks on all transport: Almost like he wants us to suffer

Trump blames leftists for protest violence but court docs say young adults from burbs

Trump’s Post Office mail tampering/slow down may decide our election: Swing states

Trump’s family separation operation can’t find parents of 545 children: Child abuse?

Trump’s GA immigrant prison doctor did “forced unnecessary gynological surgeries”

Trump mob to get discount on $ Billion no-bid contract for 5G network: we lose control

SCAMS/SPINS:

PA tossed 372,000 votes because voter checked box requesting future ballot: GOP wins

Roberts & Supremes allow ballots post marked Nov 3 to be counted despite slowing mail

Putin’s hackers change election: picture says “1 million Trump event”; really musicfest Zurich

‘60 Minutes’ too rude, biased to Trump ego so he walks: Dictators need positive messaging

21,000 Election Day polling places have been eliminated to help Trump win: 11 hour wait!

GOP uses any means to stop voting even when it helps them: NO standard for signature review

Postal service benches its police who guard mail boxes: thieves encouraged to ditch ballots

Company employees threatened with job loss if Trump loses: FL GOP pressures companies

Trump brags he can shake-down Exxon for money: Trump did it to casino owner for 75M

Jared to start new Trump media outlet: Trump-branded product outlet; rebuild brand/empire

Trump paid $188,561 taxes to China but just $750 to US: average American paid $3,346

Trump mob member Broidy pleads guilty to unregistered foreign agent for China: no jail

Another teen Trumper caught plotting to kill Dems: AR 15 & explosives van;

Ten states Friday reported highest one-day cases: Trump rallies mass spreader: 224,000

Schools open then close: virus cases up: teachers face life or death or fired

Grace Community Church CA no masks violation: three virus cases so far

30% small biz run out of money by Dec: Mitch GOP says no money for working families

OxyContin maker guilty defrauding US; not murder of 450,000: Sacklers not jailed

SEC asked firms to tell us the truth about their bad acts: Wall Street does not: Surprise!

Mark Gelvan caught running fake charity (vets, cancer, disabled) $56 million: spent most

Motty Mizrahi CA caught defrauded clients $3 million guaranteed risk-free returns

Sunshine Mills announced a recall of certain pet food: poison mold kills

DoorDash, Grubhub, Uber Eats caught charging restaurant 20-40% fee to deliver plus tip

Insurers caught taking some drugs off their coverage list: how to buy now

Vast Tech, OMG Tech caught tricking clients’ computer problems so buy tech support

Health Insurance Team caught fake state website mislead buyers with private fee plans

One-Time PIN Code Scam: https://www.youtube.com/watch?v=j43rcSe_vik&feature=emb_title

Is your vehicle the most popular with thieves? Make sure your coverage is complete.

New York Stock Exchange Prepares To Leave NJ: Trade Tax Threatened: NY Exchange in New Jersey

Trump claims Google stifling competition and innovation: I tried others—just garbage

Eric Trump caught tricking voters with fake photo of Mr Cube’s hat: how low can go?

Fake product reviews: https://www.pcmag.com/how-to/how-to-spot-a-fake-review-on-amazon

10 online shopping scams: how to tell it’s a fake: fake copycat websites look like official

Is your employer watching you at home? ‘You have 60 seconds to start working again.’

Ultimate intimidation vehicle goes electric: does the gun rack fit? The $113,000 toy.

Is it a scam? Check AARP scamline 877.908.3360.

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

Jobs

NJ hiring and training coordinated by gov: 70,000 jobs goal

No GRE required: Information and Data Science: online UC Berkeley

CVS Health said it will hire 15,000 employees: winter contagions

Who owns your account now?

Medicare: enrollment Change plans from Oct. 15 https://www.medicare.gov/plan-compare/#/

NJ Health marketplace: Replaces HealthCare.gov in New Jersey at getcovered.nj.gov.

Best quality/safe/reliable used vehicles for teens: CR picks start at $7,000

Charlie Brown TV specials cancelled: Apple bought Christmas and Thanksgiving specials

Avoid first-time home mortgage mistakes: get best deal for long-term loans

Miracles:

MI bans assault weapons near/in polling places: Trump encourages terrorists to be there

You pay less tax if you earn over $142,800: income over $142,800 Social Security tax FREE

Trump’s food stamp cuts for 700,000 poor outlawed Sunday: 8 million new poor since May

Top military leaders vote Biden: 'The world no longer looks up to America'

Pope: "Homosexual people have the right to be in a family. They are children of God,"

GOP Supremes could derail progressive laws in 2021: 3 years for Roosevelt to re-balance

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Friday, October 16, 2020

This is why you can’t afford to ignore fees

When returns on investments are low, paying your advisors fees can kill your account growth. If your investments are earning 6% but your fees, commissions and expense ratios total 2%, your account will grow HALF as much as it could have over time. Example: You invest $250 a month for 35 years with costs of 2% per year. You end up with only $229,194. If your 6% a year on average only cost you 0.07%, you would end up with $352,216. That is $123,022 more—HALF again than with advisor fees. You can always hire an advisor when you have a problem. Your advisor pockets the $123,022. Most of us are correct in assuming advisors are a luxury item. We can’t afford to give away that much of our nest egg. Plus it could be tax-FREE.

https://www.amazon.com/You-Can-Afford-Retirement-TAX-FREE/dp/1517738253

Is your employer’s 401k right for you?

There are situations where you are better off NOT using your employer’s pension plan. Your employer may have picked the wrong fund options or they do not match your contributions. If the only options are expensive funds and there are many extra plan expenses, you can gain the same tax advantage with lower costs elsewhere. Your total accumulations will be greater. If there is no match, there is no advantage to using a 401k or 403b. In fact, some types of employer plans may end up losing your money. Single-employer pension plans are better protected than multiemployer plans by using available pension insurance. Use Brightscope to assess your plan. If you are paying more than 0.15% total costs (fees, charges, expense ratio, bookkeeping, annual statement fee, etc) and you do not receive a match to your contribution, you will be worse off in retirement. A Target Date fund may be the right choice. And you can avoid retirement income taxes too by using a special IRS account available at the largest fund firms.

Consider the better options: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Is a robo right for you?

A robo-adviser is a computer algorithm that invests your money based on your answers to a few questions, such as when you need the money, your tolerance for risk and how much you have to invest. You pay for the website process and you pay for the funds the robo puts your money into. So you must decide your risk tolerance (how much market volatility you want) and when you need the money (when you will retire or buy your dream vacation). You must also decide how much to invest even though this is one of the hardest decisions to make. You can pay extra for “tax-loss harvesting” although mutual funds pass on gains and losses every year without much control over your taxes. You can pay up to 1% a year for a robo account. An easier alternative is a Target Date fund which does the same things for 0.14%. Save yourself $ thousands over time.

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

Another way the wealthy avoid paying their fair share

Trump caught inflating value of his woods: tax avoidance of $21 million. Did you obtain a tax break when you bought your home simply by claiming you would not build in your back yard? No of course you didn’t. The wealthy use these kinds of tricks and politicians don’t fight it. Usually because the wealthy help the pols get what they want too and nobody goes to jail. First, you have your company buy the property. Then you hire an appraiser who makes a report that IF a new owner were to develop the land, it would be worth double current values. The appraiser who also does deals with you makes up “unsupported assertions and misleading conclusions that boost the value of [your] charitable gift — and [your] tax break.” Another example is the private museum of Peter Brant in CT. Operated by a nonprofit charitable foundation created and controlled by Mr. Brant, this cozy museum with old bicycles is tax-exempt. Wealthy collectors save $ millions in federal taxes by donating art and money to museums and foundations. But for Mr. Brant’s center and a growing number of private tax-exempt exhibition spaces like it is that their founders can deduct the full market value of any art, cash and stocks they donate, even when the museums are just a quick stroll from their living rooms. The museum is not open to the public however. So you could set up a museum of your old baseball cards in your shed but the lawyer set up will cost you. Or you could just use your legal tax shelter which costs nothing to establish.

Start now: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Why is compounding the key to your investing success?

Warren Buffett credits compounding as key to his success in accumulating over $80 billions. “My wealth has come from a combination of living in America, some lucky genes, and compound interest.” Without compounding Buffett’s securities could not propel his assets to that level. We can only achieve our long-term goals by using compounding. Compound interest of 1% at a bank provides $125,762 after investing $250 a month for 35 years. Since inflation runs about 3%, we are losing money! Only compounding securities’ dividends/interests can we accumulate $1,243,368 in 35 years. Since we don’t have Buffett’s genes, buying a low-cost stock index fund is our best and easiest way to take advantage of compounding.

Use Buffett’s strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

Is “professional” money management right for you?

Investors are questioning whether the promises of the large Wall Street firms are really fulfilled. You may remember when Yale Endowment’s use of ‘alternatives’ was the answer to every investor’s dream of “beating” market returns. Well, guess what? It was a myth. Studies have concluded: “…we find no evidence that the average endowment is able to deliver alpha (market beating returns) relative to public stock/bond benchmarks.” Another study found, “little positive evidence supports the conclusion that private equity as an asset class is able to deliver alpha.” But ultimately, they concluded, “We do not resolve the question of whether private equity and hedge funds deliver alpha.” As to other sources of alpha they flatly stated, “We find no evidence that manager selection, market timing, and tactical asset allocation generate alpha.” Even without taxes, “Non-profit endowments badly underperform market benchmarks, with median annual returns 4.46 percentage points below a 60-40 mix of U.S. equity and Treasury bond indexes, and statistically significant alphas of -1.10% per year.” In English, that means “professional” money management is not worth the $ thousands we are paying over our investing lifetime. The fees are subtracted from our account whether there is a gain or loss.

Compare Vanguard’s low-cost lineup: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Is it ever time to buy a new car?

What is the difference between a new car and a slightly used version? You must consider that the luxury cars have dependability problems so they lose over 40% value in the first to third year of ownership. Manufacturers use owners for a FREE testers—some of us must return these expensive babies over and over to work out the kinks. If you don’t want to be their guinea pig, look to the used market to save on value. For example: BMW 7. Average new price, $109,231. One-year depreciation, 43.4 percent. Average year-old price, $61,784. Audi A6: Average new price $63,931, One-year depreciation, 41 percent. Average year-old price, $26,199. Jaguar XE: Average new price, $50,371. One-year depreciation, 40.9 percent. Average year-old price, $29,786. Compare Honda Civic hatchback: Average new price, $25,390. One-year depreciation, 11.9 percent. Expected average year-old price, $22,686. If you are still not convinced, price the Porsche SUV (contradiction in terms?) at $127,800 for the Cayenne Turbo. The used 2020 SUV is a ‘bargain’ at $106,000.

Buy right insurance for it: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Most of us have no idea how much money we need

An overwhelming majority of us are heading into retirement without any idea of how much money we will need. New survey: 71% of adults within 20 years of retirement have not run a projection on how long their savings will last based on their life expectancy. Moreover, 53% of that group said they expect to retire with less than $100,000 in savings. But averages don’t mean a lot. We now have tools to help us get a better idea of our retirement spending levels without paying a planner to make a big printout. We can estimate how our savings/investments will grow over time and then how long they will last. Combine that with the Social Security benefits estimate using current earnings (https://www.ssa.gov/OACT/quickcalc/) and we will have a rough guess of our retirement income. If we do it now we still have time to fix it.

https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253

You could save $3,000 a year on financials

Our financial industry Insiders show you the "tricks of the trade" so you save up to $3,000 every year on banking, mortgage, education, mutual funds, securities, annuity, insurance-life, health, disability, long term care, vehicle, homeowner's, lawsuit--vehicle purchase, estate legacy, wealth transfer, retirement spending . . . almost any service. You buy the best financial services and avoid high fees and commissions. Your savings builds your Wealth Reserve over time. You buy where we Insiders buy! Our Insider's Guides help you find the savings so you can build your Wealth Reserve to protect your lifestyle, now, and into the 21st Century. Your Unbiased Advisor: "Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime." Our Insiders show you how to SAVE $3,000 every year by buying your financial services DIRECTLY--using Insider's Guides for each financial product/service.

https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

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

Like 1776, this period is a test of democracy—do we really want a Dictator?

Supremes decide election … again? “Follow the money”

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Dictator: I blame veterans’ families, not ‘consort’ Hope

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

Trump’s tariffs destroying good jobs in MI: trade war caused loss of 175,000 manufacturing jobs.

Trump used his office to help over 200 businesses who secretly paid him thru his properties