BEWARE: 401K transfers
to company pension (an insurers’ annuity)
Recent changes give
employees the chance to have someone else manage their money and pay a fixed
monthly amount in retirement right with the same employer. You avoid having to
find an advisor, pay taxes or move your money. This guaranteed benefit comes
with a large cost over time: many 401k plans and pensions have hidden fees that
you never see. Also, most plans have no
inflation protection so your $500 a month will buy HALF the same goods in 20
years. Once the monthly payout begins it is hard to obtain your money in an
emergency. You will not be able to keep growing your money—payments are for
life. Yes, the payments are also guaranteed by the government. The PBGC
guarantees pension payments. The PBGC is only a factor if the employer
offering the pension goes bankrupt.
Few retirees have
warmed to this strategy even though it gives another benefit: that your money
cannot be taken by a legal judgment, but this is also true of an IRA at less
cost. Having all your old 401k accounts in one IRA means less trouble with
taxes, portfolio planning and help when you need it. I use Vanguard because
their advisors are non-commission unbiased guides. I can reach them
immediately. Most experts agree: rolling your 401(k) balance over to an IRA
account when leaving your job is often your best option. An IRA offers far more investment options than a
401(k) plan. These include a full range of exchange-traded funds (ETFs),
mutual funds, individual stocks, and other options. And an IRA often costs
less than a 401(k) plan pension. Large IRA custodians charge from 0.04% to
0.50% for their funds compared to 401k plan administrators, sales broker/agent
and each funds’ money manager. Over time this can cost 2% each year.
https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966
Where is your refund
and Where is it going?
Where is my
refund? Are you spending it, paying bills with it, or building your
$500,000 retirement fund with it? I work as an AARP volunteer tax preparer and
I never get the last answer option when I ask. However, our tax refunds are
really just forced savings that pay no interest. I explain to some younger
filers that they could be creating a retirement fund of HALF a million dollars
automatically. I don’t know if they ever actually carry out this option. It is
some younger folk’s strategy because it is so easy to accomplish with no pain
especially if their employer provides no tax-advantaged plan (401k). I explain:
when you get your refund, immediately send it to the mutual fund custodian. Custodians,
which may include banks,
trust companies, or any other entity approved by the IRS to act as an IRA
custodian, keep your money safe. Your
can contribute up to $6,500 in 2023. Each year you can add more plus that
year’s earnings and grow tax-Free unlike
a savings account. Then you pay tax on the portion of income you take out annually
in retirement. Or you can choose to skip the tax deduction each year now and
receive ALL of your $501,738 with NO income taxes in retirement. Invest $3,000
a year for 27 years ($81,000 total) and double your money every 7-9 years on
average. All this can be done automatically with the custodian.
https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Graduation gift that lasts a lifetime
Show your teen the easy way to be secure: a $ million tax-FREE fund. Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the “safe” stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with about $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to buy low-cost insurance, to help buy two homes and 5 cars with higher down payments or cash, and now to receive $2,900 a month in retirement supplement. Now your child can build an account that provides tax-FREE education and retirement income too. Market provides 11% a year over time: double your money every 7-9 years.
Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355
How to ride out
short-term market dips
The stock market has
been resilient
throughout its history. Stocks routinely recovered from short-term crisis
events to move higher over longer time periods. Time, not timing, is the best
way to capitalize on stock market gains. By trying to predict the best time to
buy and sell, you may miss the market’s biggest gains. By staying fully
invested over the past 15 years, you would have earned
$19,215 more than someone who missed the market’s 10 best days. It is
impossible to time the market, and those who try generally end up well behind those
who just remain invested. There hasn’t been any 14-year period (or
longer) when the stock market lost money. You allow the Miracle of Compounding to work if
you are fully invested in the market. Compounding is a powerful investing
concept that involves earning returns on both your original investment and on
returns you received previously. For compounding to work, you need to reinvest
your returns back into your account. For example, from 2004 to 2022 you
would have a return of 10.39% with dividends reinvested. Without dividends,
you would have a return of just 8.2%. Over 30 years, this difference multiplies
so that $3,000 invested each year would have produced $619,688. Without
dividends at 8.2%, you would end up with just $390,723.
Leave it in: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513
You need to know
these essential financial Facts of Life
How will obtain
health care in the future?
How does your 401k or pension work?
Are you overwhelmed
by paperwork of benefit options?
Do you have any
financial plan?
How much money will
you need in retirement for health care expenses?
Most of us have
little grasp of the information written by professionals so we can answer these
vital Facts of Life. One survey found
that only 26 percent have a one-to-four-year financial plan in place. Another
seven in 10 have grossly underestimated the amount of money they think the
average retirement-aged couple needs for health expenses. Nearly three-quarters
admit they had no clue how any of these financial accounts worked when they
got their first job. More than half the poll felt overwhelmed by the
mountain of paperwork surrounding their benefit options.
https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
80% of us earn less
than 3% interest on our money
Middle
class falling further behind on income and assets. First generation to rely on
private savings instead of pensions to navigate the financial vortex of
retirement.
How can we
do better?
Use compound
interest—your money makes
money on its own if you loan it to a bunch of profitable American
companies.
YOU don’t have to do
anything. Your money doubles every 7-9 years if you leave it with a low-cost
mutual fund of 500 established American companies.
“Time is your
friend, impulse is your enemy.”
Make 3 buckets of
money: money you might need in 1 year, in 5 years, and in over 15 years. The
last bucket money will earn 10-11%
a year—doubling every 7-9 years. The first bucket is a bank CD
paying 5% like the Marcus. The second bucket money is parked in longer-term CDs. Put
your money to work so you don't have to.
https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook-ebook/dp/B07W6RPB24
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
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
Billionaires
paid $881 million for votes in 2022
midterm elections
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 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 limit” J6
comm threat
January
6, 2021 “A
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
Apr 9 Illustrated
Anne Frank book removed by Florida school
Apr 21 Trump: “I
am your justice”
Jan 2025 Dictator
pardons himself: his Supremes agree
How Govt wastes our money:
Federal government
is pulling in less
tax revenue than expected: guess why?
Taxpayers
pay the rich to buy certain EV cars: why not give poor students a break?
GOP
to extend the debt ceiling for only a year so they fight over it during
election.
We
spend more on military than next 10 nations combined: protect
world from itself
TX
tells state workers what they must wear
We pay for Republic
failure: 11
banks has $30 billion deposits: bad managers got paid
We paid doctors
$128 million in duplicate checks for Vets care: no Medicare controls
SCAMS/SPINS:
60 million guns in 3 years: Wild West was
never this bad: 6 gun face to face vs 30 rnd assault gun
Tougher
gun laws states had lower child visits to ERs compared to more relaxed gun
law states.
Another
shooting of couple turning around in drive: shooter given OK by police
WA outlaws assault weapons to save lives: 170 mass
shootings this year; 8
months left for more
9
teens shot at TX prom party: looking for "persons of interest"
“Trump’s
Army” of terrorist fail to overthrow the government: 2nd time: Trump
leading polls
Is
MAGA cult the new KKK? Grifter leader, mass
hysteria, brilliant
speaker, racism, violence
Tucker
moving in with Don: new propaganda MAGA FORCE
GOP “freedom” ban women’s choice, ban books, ban
child labor laws, ban gun controls,
Montana House votes to censure transgender Dem lawmaker:
banned
from being in building
Confidence in Supremes falls: "little
to no confidence" in the Court : court:
“F—k you” we’re set
Will
Congress help Supremes learn this is a democracy: of
the people, by the people, for the people
Members
of Congress are more Christian — or say they are religious — than the
American public
TX to mandate
Christian beliefs/rituals in public schools: way to opt out is private or
move
Chargebacks911 caught
helps scammers stop chargeback attempts by victims hit with fraud.
Home Warranty: terrible deals for most: fine-print
exclusions that can create major headaches.
https://www.robokiller.com/free
trial to block spam on mobile
Text
message scams draining accounts: job offer then buy supplies, pretend boss
asks gift cards
Fraudster bleed
victim’s finances in small increments is gaining ground in the crypto
space.
Scam: clone
a loved one’s voice so kidnapper can demand ransom.
Fabricated
statements posted as reasonable ‘truth’: digitally altered storylines
Scam: lenders threatening to sue to collect
on expired zombie mortgage debt is illegal.”
Millennials are turning to fortune
tellers for financial advice
Average Retirement
Savings by Age: $51,000 35 to 44; $90,000 45 to 54; $120,000
55 to 64
Recall: 40,000 Silverado pickups over fire risk: brake
fluid could leak make fire
No
more money-losing GM Bolt EV: you will have to get the EV pickup for $39,900
base
Musk will likely testify about his Autopilot statements:
trial
over driver’s death on autopilot
VT
bars teen marriage: must be 18 to marry; considered an adult but not for
abortion pills
MI GOP Keep Law Barring
Unwed Couples From Living Together: Why?
More
book banning: 2,571 titles targeted in 2022, compared with 223 in 2020.
GOP
debt bill: weapons, servicemembers pay, rental help for
poor, research on cancer: cuts
in SS in 2034
Uber
Eats driver slain, dismembered by FL man who had just been delivered food
Blocked Train Crossings
Force Kids
to Crawl Under Trains to Get to School
Jobs
Electricians
for all
those EV stations and power sources: no oil means more electricity
Lying jobs:
congress, car sales, home & stock brokers, lobbyists
Fewer
women doctors: Abortion ban states see steep drop in OB/GYN residents
$3,000 per hour:
lawyers run class
action suit: ‘hard seltzer’ buyers get $5
Best
15 Online Tutoring Jobs of 2023
17 Worst-Paying
College Majors: 2023
Who owns your account now?
Hold that home rate:
85%
of homeowners have a mortgage rate “far below” 6%.
Which low-cost index are you comfortable with?
Special Needs Trusts
Can Help SECURE a 'Stretch' IRA: SNT
pays a lifetime
44 million borrowers returning to student loan payments later this summer
Best hybrid
cars under $30,000:
9
used cars under $15,000: best and 2nd
best in each category
Stores don't want your cash: reverse ATMs, put in cash; pop out stored-value cards.
Survey of lowest cost mutual fund complexes: is Vanguard the lowest still?
Earn
Rewards For Paying Rent w/ Any Landlord: no card fee: Ll gets check, ACH
Miracles:
Congress people and
‘friends’ are exempt
from ban on abortions: Elites
get way always
Listening and
learning to play music
could prevent a decline in brain health
Biden
phones-in his reelection bid via video: not important enough to do live TV?
Wearable patch
which uses sound
waves to push drugs through skin; less toxicity
Trees are moving north from global warming: Fraser
firs could die out.
Pope Francis, a
man, gives women right to vote in
bishops’ meeting for first time
New ‘miracle’ gel may
cure brain tumors in humans
Genome project
shows how
humans fit with other mammals
Cellular
reprogramming could delay the onset of
age-associated diseases.
@
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
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
Bending light from
extreme gravity reveals largest black hole
so far
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: created our time.
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 electron itself.
Scientists
build 'baby' wormhole as sci-fi moves closer to fact: inside quantum
computer
starts-with-a-bang/universe-expansion-not-accelerating/
@
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/
