How do you deal with your retirement risks?

 

When do you really need an advisor? What type?

Most brokers and advisors don’t know what to do if you have stock options worth millions of dollars. The right adviser can help you avoid a seven-figure tax bill when you sell them. Let’s say you inherited rental properties. A knowledgeable advisor can help you incorporate these income-producing assets into your overall investment strategy or help by using a trust that can shield them from having to pay taxes on the rental income or capital gains taxes. It is important to “know thyself.” Even financial do-it-yourselfers benefit from working with a qualified professional because they know the right questions to ask, fully understand the pros and cons of any advice or solutions an adviser offers, and have the knowledge to evaluate the results. Think of the fee-only advisor as the same as a lawyer. If you were accused of a felony, would you let your real estate broker handle it? You need a specialist. No matter the cost, you want someone who really knows the specific area of your needs. You can save money by handling most financial tasks yourself.  In fact, I found most people can save at least $3,000 a year.

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

 

How do you deal with your retirement risks?

Did you retire too early? The “average income of current retirees is only $38,515, according to the U.S. Census, and the average net worth is $170,516." Most of that net worth is in their home which can’t be used for daily bread. Did you plan on income for 20-30 years? What is your plan for trouble: a long illness, housing repairs, a sick pet, disability, and inflation? What happens to your income if the market falls 10%? Medicare will not cover an extended illness or disability. How does your emergency fund grow? Which assets are in it? The risk that hits us all is inflation—a gallon of milk in 1990 cost $2.78. It is now $3.68. Same size, same food. Costs usually double every 25 years on average. Taxes go up too. Can you manage your current property? Will Social Security be enough? Can you rely on family when you need help? Are they close enough?

Plan to cover the risks: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

 

Two Americas: Super rich took Middle class assets

Middle class shrinks: Top 1% Of U.S. Earners Now Hold More Wealth Than All Of The Middle Class. The middle 60% of U.S. households by income – the middle class -- saw their combined assets drop to 26.6% of national wealth as of June, the lowest in Federal Reserve data going back three decades. For the first time, the super rich had a bigger share, at 27%. Middle class’s share in three main categories of assets -- real estate, equities and private businesses -- slumped in one generation. That made their lives more precarious, with fewer financial reserves to fall back on when they lose their jobs. This is no accident: it is by design. Our Reps in Congress voted a 2017 tax cut to give Super rich even more assets. Our government has been giving money (bonds and ETF funds) to their companies since March 2020. Their corporations receive more subsidies and tax breaks. Private jets are flying off the shelves. Their short trips cost $ millions. They buy shredded pictures for $25.4 million. Over the past 30 years, 10% of American wealth has shifted to the top 20% of earners, who now hold 70% of the total, Fed data show. Real wages stay at 1970 inflation level. The financially squeezed workers, tricked by a TV star saying “only I can fix it”, supported the transformation of America into a socialist state for the rich. The super rich take most of the chips in this version of socialism for the rich and we let Congress allow it.

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

 

 

 

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

 

 

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

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

 

Trumpist Bannon defied Congress: no arrest?

 

F. Hill: Jan 6 ‘Dress Rehearsal’ For Further Violence

 

GOP elected before Trump’s terrorists’ trials?

 

Capitol police leaders helped Trump try Coup

 

 

 

How Govt wastes our money:

Taliban: US to give aide “directly to the Afghans” how w/o troops/CIA/USAID? 

Regulator’s law didn’t stop robocalls in Jun: can’t keep a genius capitalist down?

Little Russia: TX bans vax mandate in my business: TX gov mandate against mandate

 

GOP, bank lobbyists stop Biden order for tax cheat info to IRS cheats owe $7 Trillion

US sends troops to 4 military bases in Greece for “stability and prosperity” $400 million

 

SCAMS/SPINS:

Chiropractors lead the Covid misinformation thrust as semi-medical professional experts

MO hospital workers quit rather than take vax: personal freedom to kill patients

Public health from personal freedom to choose vax? No, un-vax nurse may kill me

 

TX ends mandates: hunting, driving, med school, etc: personal freedom to kill your kids?

 

TX Allan West slams vax while hospitalized for Covid: irony lost on TX voters

Only 56% of Americans vaccinated: what are they waiting for? 725,000+ dead so far

Horse dewormer worked in Australian test tube cells with high doses: no human use found

One FL school sees 17 employee deaths since start of school from COVID-19: No 1 US killer

Florida county is fined for requiring employees meeting public to be vaccinated: 14 anti-vax fired

 

 

Trump and GOP will not run or vote in 2024 if election theft not “resolved.” Fantastic!

Most Rep voters want their dictator to take power 2024: 44% want Trump to be president

Real GOP or RINO litmus test: “was the election stolen from Trump”: hate for Dems

Grassley has taken the Trump Kool-Aid too: why? He used to have his own strategy

Pence in Hungary raising money for Christian nationalism: Trump’s legacy?

 

GOP head thinks Google, not Trump, “tries to control our thoughts”

GA voter applications shredded by officials: will democracy be preserved for 2024 vote?

Will voting matter anymore: redistricting reduces voter impact in close elections.

 

Fox: Google ‘conspiring’ with Biden administration to find sexual-assault suspects: WI kidnapers

 

British prince avoids the law: sexual assault allegations by American when 16: rich win

Larry A. Holley MI caught promising high returns Ponzi using trust in religion base: jail

American Advisors Group caught sell reverse mortgage with deceptive home estimates

How hackers capture our computer and money: ingenious plots catch us every time

 

Airline passengers bringing guns to the airport "huge problem" never seen before 

 

New Hack: email from USPS post office: “shipment has bad address” Fake Tracking # “US#######CA”

 

Jobs

Navy engineer caught selling sub secrets to the enemy: WWIII spy novel?

Nobel Prize for econ testing: raising minimum wage does NOT cut jobs

FL teachers quit rather than end up in hospital or bring Covid home to family 5000 jobs

 

4.3 million quit in August: better jobs or hours or retired early/live on the beach/camper?

 

Who owns your account now?

emergency-rental-assistance-state-by-state

Water shortage: 5000 golf clubs: each uses “1.2 million gallons a night” night rate lower

70 million see 5.9% increase Social Security benefits: can green beans $.50 to .74 3 wks

 

October 15 filing extension deadline: extension to file their 2020 tax return must file now

Most Americans going for cremation instead of cemetery: cost and ‘personal choice’

Cher sues Sonny over royalties from “I Got You Babe”: never enough

 

Miracles:

Merck tablet to treat mild-to-moderate patients of COVID-19: instead of horse dewormer

CA to ban polluting lawn equipment so peaceful neighborhoods again. Blowers 90 dBs

Meteorite crashes through roof of Canada woman’s home and on to bed: Ruth is OK

 

 

 

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/

 

Wisdom comes only thru suffering Aeschylus

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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