How Congress people determine the winners and losers
Recently, Sen. David Perdue (R-GA) provided the perfect example of how politicians make winning in the stock market easy ... for themselves. Our representatives are well rewarded for helping the winners win. Another example is the guaranteed $1.95 billion “advance purchase” agreement with Pfizer. This ensures Pfizer’s senior management will be well compensated for delivering 100 million doses of vaccine. We will still have to pay for each dose separately. There are many examples of this activity as shown here: https://www.reuters.com/article/markets-saft-idUSL2N14V2OV20160113. But we can still double our savings in 10-12 years over and over with a stock market account by using a low-cost index fund. We win too: TIME value of money. And we can make our savings tax-FREE by using an IRS-approved account—less tax; more to spend.
https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409
$1,000,000 retirement fund?
The secret to reaching this goal is TIME and compound interest—both you can use for FREE. This strategy is recommended by the famous investor Warren Buffett. It takes $250 a month for 35 years to reach this goal using his strategy. The Buffett strategy does not cost a lot—there are no broker fees, no upfront costs. There is an annual charge of 0.04%. For your $250 a month, you will be buying shares of a mutual fund that invests in 500 company stocks like these: Apple Microsoft Amazon.com Alphabet (Google) Facebook Berkshire Hathaway (GEICO, etc) Johnson & Johnson Procter & Gamble NVIDIA and Visa. Because you are not paying a broker’s commission each month, you will earn about 11% a year over time. Of course, in 35 years, your $1 million will not buy as much as today’s money will buy because of inflation. However, no one spends their whole retirement funds right away so if you keep compounding interest, you can buy $1 million worth of things eventually. Remember, you only invested $105,000 for your million dollars. The rest is your gain in capital. This strategy only works if you keep investing $250 or more a month and you use the mutual fund Buffett recommends.
https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963
New IRA rules: use tax-advantaged accounts longer
New rule: We must begin paying tax on our tax-deferred accounts like IRA and pensions starting at 72 NOT 70½. We are told how much to take out in the form of the IRS table of required minimum distributions (RMD). When we are earning wages and pulling out RMDs, the tax consequences can result in higher tax rates and an increased percentage of our Social Security benefits being subjected to taxes. New rule: reduce taxes by making a deductible IRA contribution after age 70½. The SECURE Act in 2019 changed that. Now our traditional IRA contributions have NO age cutoff and allows additional contributions as long as we still work. Even a part-time or self-employment job like Lyft Uber will qualify. We can deduct up to $7,000 each depending on income. Avoid future tax hikes: create a tax-FREE retirement by converting IRA money to Roth IRA tax-FREE money. We may choose to convert any amount to the Roth from our traditional IRA. We pay taxes now instead of paying greater amounts later. Tax needed to pay for breaks for rich.
Make a plan: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793
Money is tight—cut coverage on some plans
Life insurance: buy term to cover your family for 20 years only. Once your kids are on their own there is no need to cover them. Usually you will have enough in assets for your survivor by then. Permanent life with a savings component and individual disability cover are a waste of money unless you’re protecting your personal business. Vehicle insurance: low deductible and comprehensive coverage on an older car that you own is a waste of money. Better to use an umbrella liability policy to cover lawsuits so you don’t lose your home and assets. Use a savings/investment account to replace mortgage life, accident and disability. Create an education fund to protect your children’s future. Child life insurance is a waste. Beware dental, travel, car rental, pet, ID theft and warranty insurance exclusions. A savings/investment account can cover all these low-probability risks. Instead use the premiums over time for a better retirement nest egg.
The best insurance is having money: https://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391
Why Wall Street loves stock traders
Academics who study stock pickers have long observed that the vast majority of professional money managers – about 85% – underperform their benchmarks over a multiyear period. Yes, once in a while for short periods, they hit the money—just like gamblers. But we know the house makes money from those who keep betting despite the odds because of their illusions. Wall Street makes money from trading and fees repeated year in and year out with little for us. Consider all the professional traders who use powerful computers to pick and trade thousands of shares in seconds. Individuals have little chance of finding the gold seam. Wall Street spins a money fantasy—do the opposite: stay invested, don’t trade, buy low-cost market indexes in diversified sectors, use tax-advantaged accounts, and manage dividend/gain taxes. A study of 1600 traders concludes: “We show that it is virtually impossible for individuals to day trade for a living.” DALBAR tracks returns over time: High-cost managed equity funds average 3.79% vs. low-cost S&P 500 index average 11.06% a year. Use low-cost index funds or ETFs from Vanguard, Schwab, or Fidelity and beat the Wall Street “professionals.”
https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373
**********ACCOUNTABILITY**************
Like 1776, this
period is a test
of democracy—We reject the "American
fascist"
Our ‘Truth
and Reconciliation Commission’
Trump
defies Supreme’s decision
Will
Biden need military to evict Trump?
American-style
fascism vs democracy
Do
74 million of us want democracy?
The
Big Con continues: we never learn
How Govt wastes our money: Our
Representatives gave 3.7 Trillion to the wealthy!
Will Trump shutdown government in final revenge act on America? Revenge
Trump country ND leads the world in deaths: 1 in ever 1000 dead: real not hoax
43% of drivers/passengers killed in accidents not wearing seat belt. Masks same?
Supremes:
religious
can spread virus: no masks required bec/ “no restrictions on bike shops”
Trump let Mexican drug dealer “El Padrino” go free: freeing many of his ‘friends’
Another armed teen shoots 8 in WI mall: 2nd Amendment killing us: dead have no rights
GA is recounting votes after recounting votes by hand: how many times; how much cost
Trump
donor Rod Aycox gets federal money targeted for small biz: friends in high
places win
“Follow the money”: GA
senator run off between rich and richer: American
Socialism for Rich
NYC road/bus checks for
virus: just
like in the movies: 14 days lockup for out of towners
SCAMS/SPINS:
American owners shows how to kick people when they are down on their luck
The BIG Con continues: ‘worldwide’ conspiracy to change 6 million votes: Blue to Red
Biden cannot find any socialists Trump said would take over government
Can GOP hold off all Biden appointments/policy until TrumpWorld comes back?
40-50% of Americans say they
won’t take vaccine that can save their lives. Leaders
maskless
Will these machine gun terrorists leave the White House quietly before January 20?
Trump attacks birthright citizenship: U.S.-born children not citizens: we are not citizens?
Biden’s EPA pick: lobbyist who helped DuPont avoid regulations
GOP gave up its democratic principles to a Trump dictatorship: can GOP go back?
Dictators don’t go quietly: usually force is needed: “I am the only one who matters”
How many criminals will the ‘law and order’ con man pardon? Giuliani still licensed?
So it is OK to lie to FBI if you have a friend in high places: Justice for some not others
Trump found a judge to stop PA certification: can one woman change millions of votes?
Could Trump reverse 4 state election results: MI, WI, AZ, GA? His alien advisor helps?
Trump told supporters NOT to use mail ballots: suppressing the vote backfired on him
Trump’s conspiracies
have MAGA
world talking Georgia boycott so Dems win!
Real voter fraud: Trump told us to vote in person AND by mail--no Black voter fraud
$75,000
truck massage: Don’t need a house—work 24/7 live in truck just to pay for
it
GM Suv pickup recall 7 million airbags that explode w/o warning in heat/humidity
Tesla probes failure of the left or right front suspension fore links
USEquityAdvantage auto loan payment program contained misleading statements: fine
FDATR violated Telemarketing Sales Rule deceptive and abusive telemarketing: fine
Fake ‘Medicare’ caller gets info to steal ID: Call real number on card to give info
Judge: Trump’s Voice of America head tried to subvert unbiased reporting to world
Businesses
with interruption insurance must sue their insurer even after paying for
years
Fake vids tweets
easy to make: never trust one source of information: info
war continues
Fake
charities look real: check
IRS list BEFORE giving money: VA and disaster favorite
Trump’s
Treasurer Mnuchin's moves money for pandemic to secret GOP fund: “illegal.”
OxyContin
maker pleads guilty 3 criminal charges but bankrupt & owners get NO jail
Oxy
killed at least 70,000 but Sacklers took $ billions out already and no one to
jail
IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.
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
https://www.healthcare.gov/get-coverage/
for uninsured: subsidy
pays most premium
Who owns your account now?
Need to reduce debt:
file bankruptcy at low cost: get
new start with your life
CBS’s Simon
& Schuster to German Bertelsmann’s Penguin Random House: anti-trust
Miracles:
PA
mask makers LIVE in factory for 28 days straight when supplies were needed
most
State
Farm sending wire sensors to homes to prevent fires: cigarettes smoldering
big fire
Democracy costs $14
Billions and over 1 year of fighting: voters
need only 1 month fight
“It’s reality” Laura
Ingram FoxNews finally insults Trump: “Biden will be inaugurated”
KS
requires masks but keeps schools businesses open with emergency troops.
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/
We can apply for
health care online: https://www.healthcare.gov/
IAN
41 Watchung Plaza,
B242
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
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