How can you know how much to save for, and in, retirement?

 

How did you do in 2020?

Corporation heads increased their own pay 18.9% in 2020. The CEOs at the top 350 firms in the U.S. were paid $24.2 million on average. They laid off millions of workers to be able to pay themselves that much. Yes, demand for products fell but pay for the boss did not. The pay went up for them but down for employees. Since the 1970s employees have been cut out of productivity gains—we make more stuff for the same pay. When we compare our pay to theirs, CEO-to-worker compensation ratio was 21-to-1 in 1965. It peaked at 366-to-1 in 2000. In 2020 the ratio was 351-to-1. Some corporations took the money to keep employees working but gave them pink slips instead. Most corporate heads cashed in on socialist ideal: Federal Reserve using future taxes to buy their corporate bonds. When the government buys corporate bonds to prop them up during a shut down like the pandemic, we have full-blown socialism American style. Private corporations take the profits; we the public take on US debt that is paid off by our taxes.

Avoid the future tax increases: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

How the rich get richer

Pittsburgh Pirates shortstop card $6.6 million: no tax on the profits. Owners can buy and sell with no tax using another loophole in the wealthy Congress tax code. The power of rare assets that appreciate in value is not lost on those with money to burn. The 20% auction costs are deductible. The owner can be an entity that pays no taxes. Dealers may maintain inventory and thus can deduct their expenses and losses against gains. Wealthy investors can use the value to borrow funds and thus avoid any income tax for their lifestyles. With some assets appreciating 80-90% during this period, the wealthy need to keep their future money safe. Of course all these sales and trades are anonymous since secret empires are safer. IRS has no clue where the assets are—boat in Malta?

Hide your thousands from tax:  https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

How can you know how much to save for, and in, retirement?

Many folks tell me that they can’t save for retirement because they don’t know how much they will need in retirement. Of course, you can’t have too big a nest egg but then pre-retirees don’t save since the monthly amount seems too great to bear. Others worry about how much to spend down in retirement. They fear running out of money. These unknowns are very specific numbers to each person—there is no rule of thumb. Advisors have formulas but most people hate the thought of wasting money on a full-time financial advisor. There are ways to find the answers for yourself. With these estimates that give you an idea of how much to save and/or spend, you can correct your calculations as you go on. Each year you learn a little better what you face in terms of growing and spending your lifestyle fund. Better to know than not know in this time. The IRS has answers for you to consider since they control withdrawals from some of your tax-deferred funds. You do have some control but you have to know about the process to use them.

https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

 

 

 

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

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

Gov: “several plots by domestic violent extremists”

 

How Govt wastes our money:

Biden sends 3,now5,000 troops to ‘guard’ civilians at Embassy: Vietnam never ended

GOP favors another 20 years in guerilla war: can Afghan forces ever stop guerillas?

5,-6,000 people; $6.5 Trillions lost in 20 year war: lessons from guerilla wars! 1775

Another 20 years?: Most Americans did not want to keep troops in Afghan/foreign zone

Trump’s Afghan pullout agreement: GOP now changed its mind or just anti-Biden?

 

Conservative Christians to install Kingdom in America led by Trump’s guerillas

 

82 families got special tax breaks from Trump in 2017 tax cuts: $ billions we must repay

$36 million taken by wealth advisors from small biz PPP program: “Fraud and Abuse” 

Wealthy biz owners change the label on their compensation to avoid taxes: costing us $$

 

SCAMS/SPINS:

Lobbyists trick SBA into giving $10 million to corp: small restaurant biz need not apply

 

GOP help kill their own followers in order to sustain the wealthy elites: 1,000 die/day

 

TX parent rips mask off teacher’s face: ideology not health drives war

No need for vaxx or drivers’ licenses or car insurance or gun license or medical license

 

FL Gov: “parents rather than gov should be making this decision” But FL bans masks! 

FL Gov kills 4 teachers: Broward Board voted to defy Gov. DeSantis’ order to ban masks

TX GOP Supremes ban masks in 2 counties as Covid cases rise 400%: death sentence

TX requested five mortuary trailers from the feds: 144 died Saturday: no masks/no vaxx

TX cruse ship sailed with 27 Covid positives: only now adding masks to crew

TX school makes masks part of dress code to comply with Gov “no masks” rule: brilliant

Catholic diocese won’t give followers Covid vaxx exemption: Vaxx mandate support 

 

NC marries a 49-year-old man and 17-year-old girl from KY: NC marries girls to men!

Boy Scouts bankrupt: pay vics for leaders abusing scouts: no leaders get jail; lawyers $$$

 

13 year old kills another 13 year old in defense of kid being bullied by shooter: guns kill

young girl kills 4-year-old girl after finding a loaded gun in a Chicago home: guns kill

7-year-old girl was killed while sitting in a car in Chicago

 

Tesla autopilot probe: sensors attracted to emergency vans’ flashing lights kill 1 injure 17

 

Marcus Boggs IL caught stole $3 million unauthorized transactions: prison 3 years

Fair Collections & Outsourcing caught giving credit bureaus bad info on borrowers

OxyContin maker Sackler caught in bankruptcy claiming nothing to do in opioid deaths

Hackers stole $94 million in virtual currency from Japan exchange: no ‘bits’ left

Insurers still charge for Covid tests despite Congress: loopholes provide profit incentives

 

Jobs

Nearly a third of U.S. workers under 40 considered changing careers because pandemic

Virginia Oliver, 101, is the oldest licensed lobsterer in Maine

No bus drivers to take the kids to school: many industries short of workers: more pay?

MetLife min wage raised to $20: customer-service and operations roles

 

Who owns your account now?

Covid booster in the Fall for all

Survivor SS benefits do NOT continue automatically: call SS for help

How advisors keep your assets after they pass to your adult children: fun stuff

 

Miracles:

New York City grew by 629,000 since 2010: 8.8 million; Phoenix grew faster to 1.6 mill

Last seven Julys, from 2015 to 2021, have been the hottest seven Julys on record.

Water conservation for Southwest: Lake Mead lowest since 1930s.

 

Biden blamed for Trump Afghan withdrawal agreement of 2020: US gave up years ago

Disabled students get their loans cancelled: 323,000 students get fresh start

Dorothy Oliver got her whole town vaccinated by being a neighbor: trust is key

 

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

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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