Friday, February 24, 2023

Is long-term care insurance right for YOU?

 

Investing is about compound interest not stock picking

Many of my readers never made more than $100,000 a year yet have grown their nest egg to over $1,000,000. It starts with a goal and commitment to invest $250 a month or $8.33 a day. Investing is about keeping the commitment to yourself and your family. “Staying the course” was what Vanguard’s founder, John Bogle used to say when he gave advice. For the most part, that is what his investors have done during the downdraft of 2022. In your index account, your first 5-year total may be $19,500. Your 10-year total return is about $51,600: 15-year total $104,400; 20-year total $191,400; 25-year total $334,400; 30-year total $569,800; 35-year total $957,000; and 36-year total $1,060,400.

It is all about compounding from $250 a month over 36 years. You paid $108,000 total over 36 years and compounded $250 a month to over $1 million. Low-cost index funds earn over 10% a year on average. Of course the value of $1 million is eroded by inflation over time but would you rather have $1,060,400 or $108,000? And you could spend it all without Fed or state income tax using your tax-FREE account.

All it takes is TIME: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

 

 

What does Charlie Munger (Warren Buffett’s colleague) say?

What does Charlie Munger say about paid investment management? “How many managers are going to beat the indexes? All costs considered, I would say maybe 5% could consistently meet the averages. Everybody else is living in the state of extreme denial. They’re used to charging big fees and so forth for stuff that isn’t doing their clients any good. It’s a deep moral depravity. If some widow comes to you with $500,000 and you charge her 1 point [.01%] a year for, and you could put her in the indexes, but you need the 1 point. And so people just charge somewhat a considerable fee for worthless advice. And the whole profession is full of that kind of denial. It’s everywhere.” In Munger’s company 401k, only index funds are offered since participants keep the 1-2% usually taken from their returns. Participants keep all their money’s returns. They avoid giving up to 63% of their returns to ‘professionals’.

https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

 

Portfolio positioning for the long haul (10+ years)

Readers who have built up their “balanced” portfolio using mutual fund account with 60/40 bonds/stocks have given themselves an edge in this uncertain time. Many who have been moving money to their Vanguard Wellesley Income Fund will find that any recovery in the bond and stock markets will help them continue their periodic RMDs through retirement. This fund has provided 5.8% average annual returns over 10 years. It has produced a negative 1-year return of 4.6%. Its average return has been over 9% per year since 1970. This should easily sustain an annual RMD over time to provide a comfortable retirement income without the life-long excessive annuity costs.

https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

 

Is long-term care insurance right for YOU?

7.7% Increase in Long-Term Care Benefits Payouts

The number of claimants increased 2.7%, to 345,000, and the average amount of benefits per claimant increased 4.9%, to about $38,400. LTCI growth slowed around 2000, when insurers started to realize that claims would be much higher than expected. Insurers forgot people are living longer and interest rates would not continue at 6-8% after the 1980s. This means that new policies are higher in cost with fewer benefits. A LTCI policy will no longer cover most of your needs. Spending more for a contract now may hinder your ability to come up with your out of pocket expenses later. You may be better off finding a fee-only financial planner (not LTCI salesperson) to help you decide how much to spend on LTCI vs making sure you and your spouse have a better plan. Some readers have decided to spend down their assets so they qualify for nursing home care from Medicaid. Others have chosen to cover the possible costs of part-time help with ADLs or housing alterations.

https://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X

 

 

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracyWe rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

Parallels of this era in the past may hint at our future: democracy breaks apart legally

 

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

Billionaires paid $881 million for votes in 2022 midterm elections

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup: criminal

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

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 was “detached from reality”

 

Trump used mafia-style intimidation on the defenseless

 

Trump still terrorizing election woman

 

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 limitJ6 comm threat

 

January 6, 2021A date which will live in infamy

 

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

 

Trump: President Biden is 'enemy of the state'

 

Christian Nationalist Party (CNP) replaces GOP

 

Nov 8 2022 Trump’s “national revolution” failed

 

Nov 15 2022 Trump announces for 2024 to avoid lawsuits

 

Dec 3 2022 Trump: cancel Constitution rules so ‘I win

 

Jan 2025 Dictator pardons himself: his Supremes agree

 

 

How Govt wastes our money:

US wastes $400,000 on missile to shoot down $12 -$150 party/scientific balloon

Trump cut train traffic safety rules Feb 2018 that may have led to OH accident

OH train crew and observers knew they had a problem before the crash: new rules?

 

SCAMS/SPINS:

Putin suspending participation in START nuclear arms control treaty: ready for WWIII?

 

How image makers trick us about people with a bad rap so they can rule

Children used by meat cutting machines firm to clean sharp-edge blades: fine no jail 

Fox lied: Elites giving conspirators what they want to hear: Tucker agrees

SCAM: fraudulent emails purporting to be from FINRA  Financial Industry Regulatory Authority 

 

Nikki: competency for >75 yr politician+ Gaetz, Santos, Boebert, Greene, Omar, Sanders, Manchin

 

Southern Baptist Convention defrocks largest congregation because they chose women pastor

Which profession do you think has the MOST dishonest people: Politicians

TurboTax tricked us into paying for filing after promising ‘free’: fine, no jail

 

GoodRx caught selling private medical info to medical vendors: fine, no jail

Fake Disney Plus Emails That Steal Your Bank Information

LDS Church caught hiding info about investments in shell companies: fine no jail

 

Teacher fired in FL after posting vid of empty library/classroom bookshelves

Lies that Romance scammers tell to trick you when you are desperate

Is banning books the way to a better future?: Hitler thought so and made a media event

GOP in ID: criminalize vaccines for RSV, cancers, HIV, flu, Nipah, cystic fibrosis, etc

SNAP ends for millions with less aid when inflation rates remain high: ext. ends benefits

 

Fees fees fees: out of control fees for everything: Congress is paid by the companies

Big pharma discriminates: Walmart offers insulin for up to 75% off commercial price

7 Big Social Security Claiming Mistakes Couples Make

 

 

SuperBowl commercials together

Walkers! Benz has camera in dash to film videos to post karaoke sessions on TikTok.

 

Jobs

Some states will pay you to work/move to their places.

Fidelity Investments plans to fill 4,000 positions in the first half of 2023

The myth that layoffs save companies money: window-dressing for bad management

 

Tips for a Successful Modern Job Search

Number of major worker strikes  rose in two decades in 2022: education, health services

employment rate for Americans with disabilities hit a new record last year

 

Who owns your account now?

Housing Affordability Just Hit a Record Low

Mortgage fee cut expected to save homebuyers, owners an average of $800 per year

 

80% of us aged 18-41 get financial advice from social media: everyone’s an expert

Forms required to file taxes: you or preparer need these plus last year’s taxes to finish

 

Miracles:

ChatGPT solution for lonely, singles, seniors, conversational therapy?

Some Venice canals dry up: low tides, climate change

Miracles of Miracles: Face Development in the Womb

 

 

 

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Our Universe is Mind-Blowing

Light is both a particle and a wave depending on how we look at the light.

I don’t think that there is any such thing as a position or a velocity of a particle.

Everything (galaxies to stones) in universe 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 a little

Energy into matter: scientists converted light energy directly into matter in one step

Physics Nobel Prize: “entanglement” 2 particles share info instantly at a distance

“It may be that gravity and quantum mechanics are exactly the same thing,” Leonard Susskind

Gravity might induce the collapse of quantum vibrations into 1 quantum state—our world

 

There is no TIME at this level because of force fields come and go in all directions. 

Universe expanding: events may not come together like they did before.

Inside protons, neutrons, it is the fields of the virtual particles that creates its mass.

Gold made from neutron stars: collisions produce more neutrons:79 protons,118 neutrons

The proton is so complicated science still finds new energy entities/forces every year.

 

“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.

The electricity we use comes from the field around the wire not from election itself.

Scientists build 'baby' wormhole as sci-fi moves closer to fact: inside quantum computer

starts-with-a-bang/universe-expansion-not-accelerating/

 

 

 

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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

http://www.theinsidersguides.com/

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

 

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