Great gift idea: tax-free ‘Wealth Reserve’

 

Great gift idea: tax-free ‘Wealth Reserve’

Help you child or grandchild get off to a great start in life: open a tax-FREE account for a secure future. You can open an account with them for $1000 and as they make contributions from earnings and holiday gifts, you can show them how their money compounds at over 11% a year. There are no broker fees, charges, or commissions so every $1 works for their future benefit. They never have to pay Uncle Sam either. This is a legal IRS tax shelter. It is the ultimate wealth management system for their whole life. A ‘Wealth Reserve’ is the New American Retirement System: all earnings are tax FREE.

Get them started right: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

GE: corporations and the decline of middle class

75% of jobs at GE are now overseas where the pay is less no unions. In the heartland factories, “There’s no machines running. There’s not any work.” Corporations are using the tax code to move work and official business address so they pay little or no taxes: we pay them. GE has drawn roughly $1.6 billion in federal money since 2000, plus $687 million in state and local awards since 1992, totaling more than $2.2 billion, according to a nonprofit’s subsidy tracker that the report uses. Over roughly the same period, the report says, three out of every four GE jobs in the U.S. disappeared. Our representatives voted to give them a lower rate AND subsidies when they make bad business decisions. They can’t lose. Taxpayers via the Federal Reserve give some business our money to keep them afloat. The PPP provided money to keep workers employed and some businesses sent the jobs offshore and kept the money. Some got PPP money just to add to the salary of senior management. After the pandemic, some workers refused to return to the jobs that pay $7.25 an hour. Since the government created more money to keep Wall Street wealthy happy, inflation has risen the highest rate in 31 years. So if I get a raise, the 6% inflation rate wipes it out in 6 months. The wealthy get to keep their subsidies.

Socialism, American style: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Driving less? Get your discount

When your driving situation changes, check with 3 car insurers to make sure you receive the discounts you deserve. I have saved by moving from State Farm, GEICO, Liberty and AllState. I proved we were driving less since we were not going to the mall, restaurants or the in-laws. We qualified for the discount. We took a driver improvement course and qualified for the discount. We bought a new used car with safety equipment and qualified for the discount. We have driven many miles without an accident and qualified for the discount. We were paying for 3 coverage items we didn’t need and qualified for the discount. We got older and qualified for the discount. There are over 20 discounts and over 100 carrier premium formulas. You have to shop to save.

Get yours/save: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Is managing your own money right for you?

About 70% of households with a net worth of $500,000 or more headed by a person 45 years old or younger largely did self-directed investing in 2019, up from 57% in 2010, according to an analysis of Federal Reserve data by Aite-Novarica Group. Nearly half of them took an above-average risk level in exchange for an above-average rate of return, up from 35% in 2010, the study found, according to the Wall Street Journal report . Advisors who have won back clients use tax planning as the carrot. Some claim they have saved clients $100,000 or more. Advisors convince DIY clients that they need financial planning and are willing to pay never ending fees as percentage of their hard-won portfolios. We don’t know if they could have done the same with a one-time fee-only planner. Some advisors have earned the trust of DIY clients especially after a big loss. Other advisors say that no one person can know everything so DIY will come to them as one who knows things they don’t know. The question is not, ‘do the DIY investors know everything’: the question is, ‘are you will to give up 1-2% of your money ($10,000-$20,000) each year for life.’ Would it be better to pay $1,000-3,000 one time for help when you need it?

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

 

Inflation and the stock market

Historically, stocks tend to do well even during periods of inflation. Steve Hanke, professor of applied economics at Johns Hopkins University, said the average annual return on stocks between 1990 and 2017 was 11%. Even when you factor in the cost of inflation, the average annual return was 8%. You can also do better by avoiding the assets that may suffer during inflationary times. Long-term bonds and certificates of deposit suffer because buying them during periods of inflation means you might miss out on higher rates later. No one wants old low-rate bonds. Short- to intermediate-term bonds are a better choice. Real estate can be a positive investment since rents can match increases in inflation. However, our recent pandemic caused many vacancies and real estate development declines. The bottom line is we just don’t know which investments will hold value during this inflationary period. There are special circumstances at this time. Usually a well diversified portfolio is still the best position for your future. Focus on what you can control—steady contributions. Warren Buffett has a plan for you.

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

 

DIY investors hire only the specialist needed

Most DIY investors have a strategy to make and maintain a portfolio. They usually use a fiduciary (no product pushing) when asking for help since they don’t need a new product just advice. A financial planner can be helpful when charting their future. When they need to avoid taxation or create an estate or family legacy, they find a specialist. Perhaps a Roth conversion will help if done correctly. Perhaps the new RISE Act can help them pull all the retirement options together. The person could be a lawyer. Hiring a specialist for a specific need at a specific price requires checking creds and reputation. There are vendors who can help them find a specialist. However, asking a large brokerage firm, with a commission/fee business model, is usually not helpful. Most successful fee-only planners have the contacts to provide a valuable referral.

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

 

 

 

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

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

 

“The Coup is ongoing”

 

Congress subpoenas can be ignored?

 

“Hang Mike Pence” OK to threaten the life of VP

 

Jacob Chansley terrorist gets 3 years

 

 

 

How Govt wastes our money:

Manchin decides to cut social services but voted for Trump/GOP tax breaks for rich

We will spend $93 billion on the moon to “establish human presence there”

Despite promises no more drilling, Biden’s is bigger than any lease sale: US pollution

 

Will Congress give IRS tech upgrade to collect $100 Billion from tax avoiders?

 

 

SCAMS/SPINS:

Biden lied: drugs up not down: Medicare up 15% $21.60: from $148.50 to $170.10

Manchin opposes electric cars: favors coal mining tax credits and subsidies instead

Manchin gets delay in global coal use limits: earns $500,000 per year from coal co

 

Unlawful firearm charge dismissed: Child takes loaded gun to riot far away, kills 2.

 

Advisors caught overcharging us: poor math skills, delay, fraud, lazy, no mgr check

Amazon order email scam: call to speed order by giving up our credit card number 

FirstCash Cash America West caught charging military >36% rate on pawn loan

Brian Wedgeworth FL caught using fake Dr line on dating sites steal $750K 21 women

 

Lina Maria Garcia FL caught steering profitable trades to lover’s account: $5 million 

Our spices contain heavy metals: toxic for kids: CR reports

Dallas BEWARE: driverless UPS big rigs are coming to town from Houston. Stay away

 

“grandparent scam" relative in trouble 82-year-old Florida grandMom lost $700,000

Fake landlord scam: evictions ruin families

So easy to mislead fellow internet users: without trust, can democracy survive?

Holodeck future: playing with yourself? Back to the 50s The Weldt

 

Child cries as tells how killed 2 men during protest: attacker claims ‘self defense’?

3 White men with guns chase Black, kill him and claim ‘self defense’  How?

FBI, DA & police admit hid evidence of real killers of Malcolm X  system racism

 

Trump’s General Flynn calls for 1 national religion—2020 pledged to follow Q

Trump needs cash for failed businesses: sells marquee Washington Hotel near WH

Trump’s litigation delay tactic worked for taxes and now for Jan 6 Coup-attempt docs

 

Chants calling for hanging of VP is just “common sense” says president Trump WOW!

Are death threats to Congress person legal? GOP Gosar not arrested! But we are

 

140,000 children lost a parent/caregiver to Covid: get vax for your kids’ benefit

 

Jobs

Solution to low-pay jobs unfilled by Americans: immigrants have taken them for 200 yrs

10 Fastest-Growing Jobs for Young Professionals: tech and helping others

500,000 nurses quitting early due to pandemic overwork schedules

 

Who owns your account now?

Electric SUV bottom CR reliability survey: Lincoln, Tesla, Jeep, Genesis, VW bottom

 

Miracles:

Can a miracle change world climate deniers’ opinions? Catastrophe usually needed

2/3 of vaccinated Americans are banning unvaccinated family members from holidays

Abraham Olagbegi 13-year-old gets bone marrow then feeds homeless with grant

 

Saving the beauty of the old crafts for the next generation in LA: Thanks

2 - 3 cups of coffee, 3 - 5 cups of tea had lowest risk of stroke and dementia

MI church shelters 10-point buck on opening day of deer hunting season.

 

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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