Your Unbiased Advisor: FREE unbiased advice

Time to buy stocks?

The stock market is down 12% so far this year. For the long-term investor especially, this is the time to BUY. Stocks are on sale. The long-term trend is still positive—9-11% returns over time. If inflation continues at present levels, you will need those levels of return to maintain your purchasing power, especially in retirement. If you sell all stocks and buy bonds or cash, you will have little gains in future years. You may lose money. The last times we had volatility; the stock market fell and rose again. (Google IVV MAX for returns since 2000) If you had stayed in the market, your money has increased 204%. Compare other asset classes like precious metals, real estate, cash, Treasuries. Yes, less volatility but less compounded returns. Buffett’s secret: “My wealth has come from a combination of living in America, some lucky genes, and compound interest.”

Let compounding work for you: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Putting your refund to good use

The average refund is $3,000. Save the $300-$600 tax prep cost by doing your tax return using IRS-approved tax software via IRS free file. Or AARP free tax prep. Do not mail your return since IRS is still processing 2019 paper returns. I just got my refund! Have your refund put in your account directly—direct deposit is the safest way to finish your taxes. Take all your credits: Child and Dependent Care Credit was supercharged through the 2021 American Rescue Plan. Parents can receive a tax credit worth as much as $8,000 — nearly four times the previous limit of $2,100. The Child Tax Credit provided funds throughout the year but some families may have been shortchanged. The expanded Child Tax Credit, by comparison, provides $3,600 for each child under six and $3,000 for children between 6 to 17. The fact that the tax credit is also fully refundable is important because it could boost the tax refund that many parents receive this year. Invest your refund each year and you could have $500,000. Start your tax-FREE retirement fund so you have enough later on. When you can no longer work, you can spend ALL of your investment earnings—no taxes. This helps avoid taxes on your Social Security too.

Guarantee your future: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

What’s your retirement income look like?

Before you quit your job and retire, you need to see if you will have enough income. The earlier you do this the better—you may need to hang on for a while. You can get an estimate of your Social Security benefits at ssa.gov/benefits/retirement/learn.html#h2,

Ask your HR department for your estimated income from a company pension or retirement plan. Will your pension provide cost of living increases and pay some of your health care expenses? If you may be doing a ‘back door’ Roth IRA conversion, wait for Congress to decide on the BBB bill, expert Ed Slott says. Finally, you can estimate how much income you might receive from your savings/investments with a Monte Carlo income calculator like Vanguard’s. Is your spouse’s income included? Are there any forgotten 401k pensions from former employers sitting out there? Are you planning on staying in town with your current friends or moving? Are you getting financial support from other sources? Are you likely to arrange a phased retirement with your employer? What are you planning to do with your time? Will you have enough income? How will you handle health care costs before Medicare kicks in?

https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253

Why Trump and kids have subpoenas

NY State thinks he has defrauded businesses because he faked the value of his assets in his financial statements. For instance, he claimed his Westchester golf club was worth less than the tax assessor said so he paid less property tax. He also claimed deductions for claiming the forest in the front yard of his mansion would never be developed. Since his accountants are now admitting their returns are not to be trusted, his businesses may have fake deductions and asset values. His business partners are suspicious. His business manager has already been spoken to so he will have few other people to blame for fraud. He may have been involved in money laundering in his real estate deals. His kids may have been involved. His normal response is to delay any confrontation so this prosecution may take more time. If he is reelected, he will not be able to claim the privileges of the president or replacing of the prosecutor since this is a state violation. Remember, he told us he does not pay taxes because he is smart. Or maybe just a criminal fraudster.

https://www.amazon.com/Most-U-S-Corporations-Pay-Taxes/dp/1514274116

When do you need to hire an advisor?

Financial advice comes in so many forms, you need to make a careful selection or you will pay more than you need to pay. For instance, if you pay a salesperson to manage your money, you could be giving up 63% of your potential overall earnings. One analyst calculated that if you pay annual expenses, trading costs, and poor trading timing, your total expenses can cut your earnings in HALF. If your investment returns average 7% and you pay 2%, your net is 5%. Inflation averages about 3% so you are accumulating at 2%--not much better than a guaranteed 10 year Treasury. Because sales people are notoriously bad at beating a simple stock market index account, you could be giving up earning 11% gross over time. On the other hand, if you need financial advice like charting your retirement income projections, you could pay a one-time fee to a fee-only fiduciary planner. Financial planners listed reflect FPA CFP^® Professional members in your area. This assures you that you are not being sold an expensive product or service. You pay a fee for a report/advice like you would pay a lawyer.

Pay less; earn more: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

FREE unbiased investing advice from real professionals

Charlie Munger, Vice Chairman of Berkshire Hathaway, speaks at the Daily Journal Annual Meeting. With Warren Buffett, Munger has grown wealth for stockholders in

Berkshire Hathaway. If you don’t have time to listen, his take on a rich and happy life:

Avoid treating the stock market like a casino.

Avoid speculating in cryptocurrencies.

Avoid doing something because you see someone else get rich doing it.

Avoid anything so addictive to you that you give up everything else. For some, it could be alcohol. Others, it could be video games. Others ‘playing’ the market.

Avoid “pretentious expenditure”.

Avoid holding large amounts of cash.

Buffett is more explicit: own 2 low-cost Vanguard stocks for retirement. When you have stock assets, your money compounds at higher rates when your account fees are 0.01-0.05%, not the retail rates of 1.5-3%. You don't have to settle for retail products that are structured to provide your advisor’s firm with higher revenues. The average investor earned just 3.79%, not the 10-12% market rates. (QAIB)

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

Why reinvesting stock dividends can provide better returns

Dividends are paid to stockholders when corporations earn profits. Usually, these companies are stable money makers like Microsoft, Johnson & Johnson, UnitedHealth, JPMorgan Chase, Procter & Gamble, Home Depot, Visa, PepsiCo, and Broadcom. Owning shares provides cash that can be reinvested in more shares and produces the Miracle of Compounding. Dividend increases plus share price increases amount to compounded returns of 11% a year or more. One such fund is low-cost Vanguard Dividend Appreciation Index. Over time, several of our readers have turned their $500 a month investment into over $100,000 in 10 years.

Pay less; earn more: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

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