What should your retirement plan include?
My readers have told me what they covered in their plan. Most did a plan by themselves with help from resources available online. Some hired a financial planner to do a written projection of their anticipated income and expenses. This required pulling together all the documents about their financial assets, projected pension, SS benefits, and expenses. First, they discussed where they would live and the costs. Second, providing 2 budgets—one for the couple and one for the survivor. Third, they identified where emergency funds would come from. Fourth, they decided how much market volatility they could stand and how long their money would last. Some used a calculator to estimate their probability of having enough for 30 years of income given a 50-50 equity/fixed split and normal inflation effects. Fifth, they considered the costs/benefits of a long-term health care policy for both—single and joint coverage. Generally, they overestimate market volatility and thus reduce equity exposure early. This leads to a shortfall as folks usually live longer than their parents. You can’t live—really live—without a plan.
https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
This is how the rich evade paying taxes so we go farther in national debt
Tax lawyers are not cheap but a $1 million fee is nothing compared with saving them $200 million. The IRS has no auditors smart enough to crack the lawyers’ techniques of hiding wealthy money in the foreigners’ accounts they use. Yachts are great for hiding expensive art and gold since IRS does not seize them in foreign waters. Rich people have a lot of clout in society so prosecutors and judges need a perfect case before setting up a trial. Also witnesses get afraid and evidence gets lost. Sounds just like a mob case. Few of the smart lawyers go to jail and the rich folks like Mr Smith just make a deal with the IRS to pay 50 cents on the dollar owed. They don’t give up their money or go to jail: “Too big to fail” just like their corporate interests. The lawyer motto is ‘delay delay delay’ since the circumstances, prosecutors and presidents change. Will justice ever come for us lowly taxpayers stuck with the bulging national debt? We have one alternative: a working person’s tax haven. This account, §408A was created by the IRS so that working people could have tax-FREE retirement income. It is available through any financial institution and operates like a ‘tax haven’ without the expense of an overseas trust.
https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441
Workers getting paid less need help
This survey
asked workers what they need to succeed. Schools and employers should help
workers learn financial basics: savings, debt, interest and investment. Too
often we get deep in debt with our first job. Unless parents have learned the
hard knocks of debt control and investing, young people never get the basics
right. Many have no checking account to budget for their expenses. Few learn of
the incentives to invest and compound their earnings over time. If their wages
remain stagnant, there is no way to save after food, rent, and transport are
paid. Subsidies
for those in crisis are not easily acquired. Health care is considered a
luxury in
https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Avoid extra fees when you move your 401k or 403b
Many retirees have been tricked into rolling their employer plan into a high-fee IRA. Retirees avoid a huge tax bill when they trustee-trustee transfer not receive/rollover their qualified employer plan account into an IRA. Few employers provide the correct information about moving your account when you retire. Some employers may feel they can’t provide the information because of the liability if you make a mistake. Pre-retirees may be told to go to a financial advisor for help. The problem is that advisors are not unbiased info givers. They make money handling your money and they are not going to give you the best way to move your valuable nest egg. In many situations, advisors stand to make $hundreds of thousands by establishing your account in a certain way. The IRA offered by their firm may have high annual fees and the firm will add more fees depending on the types of assets your advisor puts your money into. Thus your annual account costs in your old plan might have been 0.50% and your new costs might be 2% all in. Over the 30 or so years in retirement you may be giving away $380,000 ($464,000 from 2% net earnings vs $844,000 from 4% earnings). The best way is to have the trustee at a low-cost mutual fund do the transfer directly. Avoid the middle-person markup.
https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957
Are single-stock ETF offers right for you?
“So I think we’re gonna see ETF issuers blanket the market with all varieties of these ETFs: leverage, inverse, options overlays, you name it.” At least 85 more such ETFs are currently planned, according to filings tracked by Bloomberg, covering some 37 companies. There will be more high-cost (1.15%) products. With a never-ending fee war taking costs on index-tracking ETFs to rock-bottom levels, the arrival of single-stock products opens up a lucrative avenue for issuers, with leveraged or inverse trades tracking major companies up for grabs. Most investors will not understand what goes into their ‘gobbledygook’ security. The regulator’s concern is greater risk for investors and the markets. “Investors’ returns over a longer period of time might be significantly lower than they would expect based on the performance of the underlying stock.” Complex products need to be reviewed by the SEC before their use becomes common for retail sales. Investors who wish to risk leverage can do so on their own now at less cost.
https://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Nov 2020 Wealthy
discredit election process
Jan
6 2021 Direct
assault failed: guns
& bombs ready
Trump
engaged in a "criminal
conspiracy" to stop Biden
“I
don’t f—ing care that they have weapons”
Trump “detached
from reality”
Trump
used mafia intimidation on the defenseless
Parscale: “a
sitting president asking for civil war.”
Trump: “Just
say the election was corrupt and leave the rest to me”
GOP fascism: “RINO
hunt armed; no bagging limit” J6
comm threat
Trump’s Supremes END
personal rights & state
laws except for weapons
WMDs
Fascism: GOP
to stop women leaving state for abortion
It’s
not a court. It’s a junta: Two Americas
How Govt wastes our money:
Congress to vote on banning
WMD weapons of mass destruction: kill 30 with
one spray
Fed govt does not recognize unborn ‘child’ as
child: need birth certificate for tax credits
Will
any of the J6 coup instigators ever get tried and go to jail? Rich have all
the lawyers
Felon 2024? Trump
responsible for deaths in J6 riot: is it manslaughter or free speech?
Will
Biden Justice Dept fail to use J6 testimony to indict GOP head: Trump
walks?
Secret Service: ‘missing’
Jan. 6 texts are our ‘secret’ acts: ‘deep
state’ defies Congress?
20
states deny student choice of gender ID: state will tell you what sport you
can play
Congress
gives $52 billion subsidies/tax credits to technology industry: already
wealthy
Biden
tested positive for Covid-19: Saudi
prince gives Biden more than bad press
SCAMS/SPINS:
War
weapon bullets are meant to destroy kids, families, lives: fun to shoot 30
rnds/min
If everyone has a gun: fight
turns into shooting at CA bowling alley: 1 dead, 2 shot
Good gun in mall saves shoppers: proves handgun
can’t outdraw war weapon: 3 dead
SCAM: text
from your bank warning of fraud is beginning of scam. Call them first.
Equitable Financial Life caught
misleading teachers on 403b fee statements: fine no jail
Regulators
caution Deferred Income Annuities: pay now; income comes later: inflation?
Forget
jellyfish drug, improve memory with
these proven methods: costs nothing
Recall: Skittles
contain known toxin, unfit for human consumption, lawsuit claims
Website legit? Check it for history of bad guys: https://check.getsafeonline.org/
Men
are more likely than women to respond to scams offering fake info survey
says
SCAM: ‘voter
verification project’ “We're working off city voter list” 2 guys at the
door
SCAM: IRS
does NOT text with links, asking you to verify bit of personal information.
Value
of the federal minimum wage has reached its lowest point in 66 years. High
1968
$80,000
Tesla was stolen with a $20 device: hackers know how digital ‘key’ works
Disney Raising
Prices on ESPN streaming service: all will follow?
Corporate CEOs
gave themselves an average 18% raise last year. Workers
lost 2.4%.
Congress may thwart 2nd GOP coup attempt: change
rules on elector counting
Throughgoing SOB Gohmert only no vote suspend tariffs for imported baby formula.
Idaho
Republicans poised to reject 2020 election results: Sieg
Heil to Trump
Terrorists
threaten daughter of doctor
who gave 10-year-old an abortion legally
Clarence
to end mixed marriage. Will he have to divorce his white wife? Loving vs VA
Jobs
NJ
school senior management pays $300K: many openings
IT
and manager jobs: flex hours
Many pandemic retirees are going
back to work simply because they’re bored
Who owns your account now?
Medicare facilities in your area rated
Median home price was $416,000 last month, up 13.4% year ago: 5.86% fixed 30 yrs
Save 15% back to school Target to 9/10
Miracles:
Last month was among
Earth’s warmest
Junes ever recorded:
One
woman giving 4,000 Kenyan kids a chance for a future through recycled
computers.
Unique in all the
billions of stars and galaxies: why don’t we take care of what we got?
How romantic: rich
and famous use Vegas
drive-through chapel; low-cost wedding
TicTocker
saves wedding from 3 Uber driver cancels:
Mom
faints when baby falls in drain then can’t get out: rescue by ‘backhoe’
Gene-therapy that
can effectively reverse
a state of near-total blindness
MIT 1st:
significantly amplify
and measure quantum changes in atomic vibrations
@
I
don’t think that there is any such thing as a position or a velocity of a
particle.
Light is both
a particle and a wave depending on how we look at the light.
Everything in
universe: galaxies to stones made of subatomic
energy ‘vibrations’
A subatomic ‘particle’
is the smallest possible vibration (quantum) of a quantum field.
Mass–energy
equivalence: E=mc^2. At the smallest
level; Everything is moving!
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
“Empty space is a
boiling, bubbling brew of virtual
particles that pop in and out of existence in a time scale so short that you
can’t even measure them.” Space expanding.
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
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
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