What are the chances of us reaching our goals?
We have a very good chance of reaching our goal of adequate retirement
income by just putting our investment contributions on automatic. First, we
need to realize that stocks and stock mutual funds are the safest way to
reach long-term goals. Historically, a low-cost index of the S&P
500 stocks grows at 11% a year. An example is the Vanguard 500 Index
fund which has provided 11.3% annual returns since 1976. Second, TIME
invested is the key to success. Over 33 years, our $250 a month, $99,000 total
investment accumulates to $1 million total. Third, Compounding
over time is the miracle that turns our $250 a
month into $1 million. Compounding only works for us if we don’t
trade in and out of the market—we “buy and hold.” Fourth, we can set
our spending
in retirement so we never run out of money. We can determine how long and
how much we can spend later in life using a Monte
Carlo simulation of 100,000 market situations.
Let money work for you not your advisor: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957
What should we do when the stock market goes down?
This is the time when most people fail to reach their goals. But take a
hint from the wealthy—don’t sell when the stock market falls. Rich people don’t
sell when the ‘price’ not ‘value’ goes down. They know the
‘price’ will rise again if they have purchased ‘value’—solid business
assets—either their own business or their stocks/stock mutual funds. In fact,
the wealthy like Warren Buffett react to a market adjustment by buying; not
selling! Stocks
are on sale. Since most of us don’t have a ton of new money when the
markets go down, we must just grit our teeth and “hold” on to what we have.
Over time companies with value will increase in price. Check for yourself: enter 1970 to 2020 in
this chart and compare the rise in value of $1. From 1970 to 2020, your $1 increased
to $183.71. Some years you lost 37% but some years you gained 38%. Over time
the annual increase was 12.19%--a positive increase. Don’t sell. Your
$1,000 annual contribution to a tax-deferred account would be worth $3,986,886.77
or your $3,000 annual contribution would be worth $1,034,853.69 in 30 years.
Just buy and hold: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement
Your advisor may have outsourced your money management
Did you notice during the pandemic that your
requests slowed and then speeded up? During the crisis, advisors
responsiveness was taxed. Instead of making you wait longer for services or
changes in your portfolio, large firms sent trading and asset change requests
to others or computers using standardized models. Using new
models-based products, advisors may have found an answer for more profits.
By applying “pre-set investment models to investors at scale, advisors have
been able to delegate less differentiated services, such as trading processes,
to trusted third parties, allowing them to instead focus more directly on
client service.” In doing so, not only can they save time and energy, but they
can also limit vulnerability and reduce strain on the process [read costs].
Thus you may be paying for automated services/products that you can receive
from a Robo at a QUARTER the cost.
Hey, you pay the fees: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X
“Only little people pay taxes”
Trump’s employees are now under
investigation for not paying their taxes. Trump is not. Trump has made it
his life’s work to not pay taxes. He boasted in the debates, “I’m
smart” to not pay taxes. He believes like
Mrs Helmsley that “only little people pay taxes.” Those who have money have
hired the smart accountants and lawyers to design their empires in such a way
that they themselves don’t pay much of their income/assets in taxes. We are the
ones who pay most of the taxes because the American system was built on taxing payroll
income taxes—and even taking taxes before we leave work on payday. The
wealthy don’t live on normal income. They have worked the system to take
revenue as loan proceeds (0% tax) or capital gains (0%, 15%
or 20%). For instance, Warren Buffett, one of the wealthiest Americans, pays only 17.7% while
his workers pay double: 32.9%. Trump pays less or nothing because his
consultants use tax tricks to help him avoid his fair share. For instance, his
return claimed a tax deduction of $21 million for promising not sell the trees
in his backyard. The IRS would fine you if you tried that.
Use your tax-FREE account: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Will the new taxes on the wealthy hurt us?
If your family is using a ‘dynasty trust or ‘generation-skipping’ trusts, you should worry. These vehicles that wealthy families use to benefit multiple generations of descendants are being targeted. These tools are used by the top 0.1%—trusts that can move millions, and sometimes billions, of dollars to heirs tax-free. Biden’s plans to make heirs pay more, equalize rates between investors and workers, and boost taxes on corporations and the wealthy by raising rates on low-tax offshore entities, will take time to execute. Meanwhile the wealthy have their specialists working to create new ways to avoid taxes. Those who recently moved to Puerto Rico to avoid taxes are getting letters already. Congress will no doubt try to thwart Biden’s efforts to boost capital gains taxes on the wealthy to ordinary income rates, and to tax gifts and large unrealized gains at death. The final language in any tax bill will be up to millionaires in Congress, and, assuming legislation is eventually enacted, some details might not be even settled until the IRS issues regulations. Our tax situation should not change much—unless you moved to PR.
Start saving tax-FREE: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977/
How to save on homeowners insurance
After you receive your coverage, insurers are unlikely to cancel unless you don’t pay premiums, have too many claims in 1 year, or change your liability profile. Certain dogs, pools, backyard play equipment and hidden businesses are common reasons for cancellations. Flooding is becoming more of an issue in costal areas. Even Trump a climate denier is fortifying his ‘house’. Maintaining your home saves big repairs and the possibility of insurer concerns. I got a notice from my carrier because the sidewalk is uneven. I pointed out that every sidewalk in my town is uneven. I also had to cut down the 200 year old oak in the front yard since it was losing limbs—3 in one year—unsafe future. And NO you can’t deduct your insurance premiums from your tax bill despite what 49% of us think. Only Trump can deduct his premiums and new seawall because he lives in his hotel. Save on financial services by shopping for essential coverage.
Ask for your possible discounts: https://www.amazon.com/Save-3000-every-year-Only/dp/1500681571/
Is a religious health care plan right for you?
You may have heard about health care sharing ministries. These are nonprofits with religious overtones that look and sound like health insurance, but rely on contributions of its members to cover fellow members' medical bills. They promote these plans as cheaper than for-profit health insurance. However, if you ask, these plans don't have to follow health insurance regulations, and thus can exclude pre-existing conditions and anything they feel is immoral or too expensive. You many be left with $thousands in unpaid bills because unforeseen things happen. HCSMs are not under a contractual obligation to pay members' medical claims. It is voluntary and you must negotiate the costs of care. Real health care insurance is obliged by law to pay all your bills for covered illness/accident. The current law prohibits health plans from putting annual or lifetime dollar limits on most benefits you receive. With ACA ObamaCare subsidies and no mandate, you are better off using a local network provider of your doctors at contract prices.
Buy what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
How to achieve financial independence on a worker’s wages
Financially independent: the ability to reach all your financial goals. To be free to pursue what is really important to you. Warren Buffett and his partner Charlie Munger have been operating independently for over 50 years. They recently explained: “We made a lot of money. But what we really wanted was independence. And we have had the ability since pretty much a little after we met financially we could associate with people who we wanted to associate with. We’ve had that luxury now for, you know, 60 years or close to it. And, and that beats 25-room houses and, you know, six cars or that stuff is, what really is great is if you can do what you want to do.” Money helps you do that.
True freedom is the ability to control how you spend your time.
https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963
**********ACCOUNTABILITY**************
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
Our Jan 6 ‘Truth
and Reconciliation Commission’
Pied
Piper leads terrorists to jail
535
terrorists charged; 300 more
How Govt wastes our money:
Trump
can still evade criminal and tax outcome: skilled at deflection to others:
BIG con
Some
states don’t want children to learn about institutional
racism: What to fear?
Half
states see rise in Covid cases: deaths only in unvaxx victims now: Proof
vax works
Mo Brooks (R-Ala.): I
can’t be sued for inciting the coup because I’m an employee.
147 GOP who voted to
overturn the presidential election and fueled the insurrection
NJ
to exclude more retiree pension income in 2021: $100-150K gets partial tax
break
New
state taxes July 1 for incomes and gas and sales and other: Read small
print
Wealthy
contributors tell Congress NOT to pay for more IRS auditors: “audit the
poor”
SCAMS/SPINS:
Vatican
indicts 10 for financial crimes: but NOT 1700
for sex abuse of kids Values?
Tyson
recalls ready-to-eat chicken products due to possible Listeria contamination
Chips are the new
oil: takes years to produce more and firms reset after Covid changes
11
armed terrorists “who don’t acknowledge US laws” fled police ‘Moors’
captured
SCAM: “free” genetic
testing kits that allegedly screen for heart conditions or cancer.
Marlon LaShonda
Moore “Blessings In No Time” caught
pyramid: said ‘8 times’ return
Securities
Terrorists
use disguise of a Bible study group to build supply of explosives to kill
Pelosi
John Robert Jones Jr
GA caught
selling unregistered funds lost clients $2.6 million
Drug
pusher Sackler pays $4.5B suit for killing 500,000 from opioids: lawyers
win
Biden
trying to hide windfall from son’s “art”: new way to make contributions?
Trump
terrorists still plan to return him to WH by August: planning
a WH ‘tour’?
TX
deputizing citizens, including outsiders, to stop abortions: medical
vigilantes
Jobs
Russian
ransoms earn $70 Million as companies fail to backup/secure passwords.
Slave labor for the NY wealthy: no
one to do lawn, iron, comb, cook, dress them
Who owns your account now?
No, you don’t have to use Win 11: you won’t have to buy a new computer either
Consumer Reports: Appliance reliability ratings: fridge, dryer, washer, micro, etc
Air Force will pay 26 victims’ families in 2017 TX church killings
Gun maker and seller sued for teen shooter’s crime: our insurance rates up
Surprise: What Did You Earn At Your First Job? 60 years is a long time to wait
Miracles:
At age 12, Abhimanyu
Mishra became the youngest
grandmaster in chess history.
At age 3, National
Anthem done right: https://www.youtube.com/watch?v=txSuj0GJT90
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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