The only advice you need for financial success

 

The only advice you need for financial success

I managed financial sales programs in brokerage and banking firms as well as my own company. I learned that we made things complicated so that we could take commissions and fees from product buyers that were not the best for most folks. Yes, there are special circumstances for special costly products but 98% of people don’t need them. For instance, most people waste money purchasing whole or universal life insurance with a savings component. In like manner, high-cost mutual funds and packaged products are a waste of money for most folks. Advisors won’t tell you this but Mr Buffett will. He does not need your fees. Sales people only make money with products that cost you more: end result, you earn less than you would have if you followed unbiased advice. Advisors don’t sell unique financial best buys that are tailored just for you. They can’t. Their firms would be out of business. Warren Buffett gave us the simple best advice: buy and hold low-cost Vanguard funds. He proved it by betting $1 million his choice would beat the top hedge fund options. It is time and compounding that makes you rich.

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

 

Buy life insurance when you don’t need it

Most of us don’t buy life insurance until we have someone to protect. This is not always the best strategy but it is reasonable. I bought life insurance with a saving component (Universal life) when my wife and I had a baby. I gave it up 10 years later as soon as I discovered I could save a huge expense by buying term and investing in a mutual fund earning over 12% per year. Instead of paying $250 a month for enough coverage to protect my family, I could buy $1million for about $21 a month. By the time our child left home, I did not need coverage at all (term gets expensive after age 55). I put the $250 a month into a broad market stock fund. If I had purchased the fund and term life 10 years earlier I would have had my $2 million retirement fund earlier. I could have retired earlier. I would never need the $250,000 life policy.

https://www.amazon.com/New-Tax-Free-American-Retirement-System-Reserve/dp/1461030072

 

 

Stock buying sale!

Do you really think that the US will default on its debt? Do you own China real estate for a loss? Will the economy collapse when our government (the Fed) stops propping up capitalism by selling the corporate bonds it bought in 2020? Wall Street selling on Monday despite economic growth seems just a fake news story to generate activity and revenue. Where else can investors go—bonds pay 1.3%? My September BUY light went on. Bits fell but if you own virtual money you already are prepared for speculative swings. The real economy is humming along very well—17+%. You have heard the line about ‘taxing the rich’ before and yet we are well on our way to the most unequal Robber Barron period in the history of the world. At this point, the Dems couldn’t pass a ham sandwich. Facts are clear: Bezos, Musk, and Icahn managed to pay virtually no federal income taxes at all while breaking no laws. Like the former reality TV star, they have discovered enough cracks in our system to leave the IRS impotent. They just moved their assets to places where the US can’t tax them. Since that won’t change soon enough, you should do the smart thing so you don’t get charged for their taxes. 

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

Is a “structured note” right for you?

Up side and down side are not clear in advance. In theory you would enjoy upside potential growth with low down-side risk. However, the truth is in the details. Call risk, lack of liquidity, and inaccurate pricing are other disadvantages of structured notes. A five-year bond with an options contract is an example of one kind of structured note. Your advisor will claim a SN gives you diversification but you have better options. Check the issuer for yourself since the seller may not share the risks with you. You may have trouble unloading a SN if you need cash fast. The issuer can end your contract anytime. Remember, no one gets paid to give you a great deal.

Get diversity here: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X/

 

Are you using your retirement funds too fast?

Without the guaranteed income stream that a pension provides, baby boomers may run a higher risk of outliving their retirement savings, known as longevity risk. In fact, according to a new survey by Siliciano and Wettstein found that retirees with pensions (defined benefits) had slower drawdown rates than those without fixed payouts. The survey compared the drawdown speed of retirees, both with and without access to DB plans, at age 70, 75 and 80. At all three ages, retirees with DB plans had slower drawdown rates. The researchers concluded that baby boomers who base their forecasts on the drawdown speeds of past generations “likely underestimate” the speed at which they’ll go through their retirement savings. On the other hand, some retirees spend more early in retirement (traveling while they still can) and assume they will need less when they are older. A one-time fee financial planner can help customize a plan for your needs.

Plan ahead: 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

 

Trump ideologue Bannon planned failed Coup

 

Generals feared Trump refusal to give up power

 

General regrets being used: “Trump military display”

 

How Govt wastes our money:

Gov admits they kill 10 Afghans not terrorists bombs: drone driver can’t ‘see’ family

 

GOP helps kill over 690,000 of us, beating 1918 flu record: Will your kids be next?

 

The $28 trillion national debt rose $7.8 trillion (40%) Trump/GOP tax breaks for the rich.

 

FBI assisted hackers cost business schools hospitals $ millions: ransomware key withheld

 

Congress can’t reform police: killing beating continues with impunity shoot/taze OK

 

TX parks cars near river ‘steel wall’: but immigrants can walk around: state workers walk

 

SCAMS/SPINS:

Trump terrorists threaten reps who voted to impeach: “toxic dynamics” against family!

Capitol Police recorded 4,135 threats against Congress: domestic terror empties Capitol

McConnell: Republicans will not vote to increase the authority to borrow: bankrupt US

 

Thomas: Supremes’ politics ‘destroying our institutions’

 

Southern Baptists have hundreds sex abuse cases like Catholics: perps remain out of jail

 

TX adopt more babies: Birth choice shifts to Christian Nationalism’s cradle to grave care

TX doctor: 'I had a duty of care': we can’t let pre-Roe bad abortion deaths happen again

 

125 IU Health workers lost their jobs due to COVID-19 vaccine requirements.

 27% of health care workers have not been vaccinated: carriers make patients sicker

Anti-vaxxers send kids home from schools; teachers quit; hospitalizations jump; kids hurt

 

Anti-vaxxers won’t be around to vote Biden out in 2024: no MISS ICU beds left

Fox: 54% favor proof of vaccination in indoor spaces like restaurants and gyms

LA getting control of Covid hospitalizations: masks and vax work

 

Covid victims billed for care at full hospital prices: end to gov help, insurers want profits

TX anti-mask really aggressive: kick couple out and punch hostess in NYC: Civil War II

Unruly unmasked air passengers should be given a parachute and pushed out the door

 

North Carolina judges cancel voter ID law: right to vote “not be denied or abridged by … State”

 

Daryl Bank FL caught selling unregistered securities fraud $25 million ‘safe returns’ 35 years jail

Credit Repair Cloud Daniel Rosen caught helping firms charge unlawful fees for credit repair

It is so easy to make a fake; teens learn how to tell the real thing

 

Fake diabetes cures and claims by drug firms: will FDA letters stop greed? Bamboo cure?

FTC Complaint Against New Balance for Misleading ‘Made in USA’ Claims  

42% of Texans would vote to make Bitcoin an official currency.

 

Nursing homes with worst record of care: average cost semi private room $7,441 /month

Food  prices jump 40-50%: 14.25oz can green beans $.50 to $.69 in one week NJ store

Boy Scouts to pay $10,000 for each sex abuse case: all adults get off free of liability/jail

 

CA running out of water and wealthy keep watering

Car gadgets make us dangerous: no focus even for a second may kill

How to Avoid Being Scammed on Facebook Marketplace

 

Avoid home buying errors: a little plan saves $ thousands

 

 

Jobs

Retiree work for love or money

Alaska needs 500 health care workers for stretched hospitals

 

 

Who owns your account now?

Chrysler had over 250 problems according to new car survey: Audi,VW,Acura over 200!

Insurer to use robot and drones to settle our big claims: can you talk robot?

Tenant screening: personal details used in secret algorithms to rate you as tenant. 

Fed rate hikes in ’21-’22: credit cards, mortgages, auto loans go up: pay down this year

 

 

Miracles:

Anti-vaxxers flying on plane sitting right next to you: no vax mandate for Covid carriers

Trump sues reporters who claim he’s not self-made $billionaire: $413 million from Dad

Free media streaming: movies, ebooks, TV, etc

 

Columbus did NOT discover America: 22,000 years old footprints NM kids did

 

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

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