Friday, July 17, 2020

Was your advisor advising you during this volatile period?


Retirement fund catch up strategy with same dollars
If you feel you need to catch up with your retirement fund you are not alone. Thousands have had their accumulations stopped by the virus pandemic. Some were laid off and some had their employer 401k match stopped. With a new investment option, you can restore your retirement fund goals—and you can do it with the same contribution dollar amounts. Whether you are saving in a 401k, IRA or Roth IRA or other pension plan, the key to meeting your long-term goals with the same level of portfolio risk is cost. First, find out what you had been paying for your investment options. For example, if you were paying total commission, annual expenses and 12b-1 fees of 1%, you will end up with $80,000 less than you would if you paid HALF that amount annually. Most investors have investment options that cost less and produce the same annual returns over time. By using the less costly version, you can reach your planned end number even though you have lost some time investing. If you keep giving away that extra 0.5% to your current fund provider, you will need to add an extra $1,400 a year to reach your total target accumulation. Switch to the best low-cost funds available.

Is “modified value investing” right for you?
Expensive advisors at Bank of America claim their “quality plus value” approach would have led to continued outperformance after the financial crisis. Value investing has been lagging the growth style for some time. Value investing is usually means stocks that appear to be trading for less than their intrinsic or book valueValue investors actively ferret out stocks they think the stock market is underestimating. Growth investors tend to favor small, young companies poised to expand, expecting to profit by a rise in their stock prices BofA said its “quality meets value” stock screen turned up names like Intel, Verizon, Coca-Cola and UPS. But BofA is really talking about ‘blue chip’ stocks. The four examples given above are not trading at “less than their intrinsic value.” They are in most consumer and pension portfolios. Since Warren Buffett is known as a value investor, his recommendation for most investors is to stick with the low-cost index and keep the high-cost stock pickers’ fees. Plus you own these stocks via the index.

We each pay $10,739 for health care so rich have the best
We spend DOUBLE what other countries spend but we get sick and die earlier. All the spending goes to care for the wealthy. There is no basic care for each of us. Even the middle class earning over $100,000 a year will be unable to afford care if they lose their job. This so-called “Free-market” system is a means of subsidizing the wealthy and owners of the hospitals, drug firms and insurance firms that lobby our Reps to keep the windfall growing. Our life expectancy—one measure of poor healthcare—has been falling since the ‘90s while other developed countries has been rising. In 2017, the Swiss lived 5.1 years longer than Americans but spent 30% less per person, for instance. We spend more than any other country for care but we get less. We don’t negotiate drug or procedure prices unlike almost every other industry. That is not capitalism, that’s socialism for the rich. Compare what is happening in the financial sector—lower commissions, more access to info, more service choices, lower costs overall. If you have a serious illness, your hospital, doctor and drug bills are full of overcharges that bankrupt most people even when they have great insurance. A ‘free’ virus test can cost $2,121.

Was your advisor advising you during this volatile period?
One-third of investors said their professional was nowhere to be found during the pandemic, according to a new study by J.D. Power. Since most folks who pay advisor fees say they pay so they have someone to discuss their situation with, it seems their advisor is getting paid for no work. Since fees can rob us of up to 63% of our total possible accumulations, it does not seem fair to give up so much for so little. Advisors are not going to know what to do in this market since we have never faced a soaring market with 50 millions out of work. Advisors give out common sense and call it “professional” service. Paying a 1% fee every quarter does not seem terrible until we look at our returns. If we earn 3% total return and we pay 1%, we are not being served well. Is your advisor a trustworthy resource in times of trouble or just an expense? There are alternatives. This is the time to make the change since earnings will be low for the foreseeable future. Unless your advisor cuts costs, you lose.

Tax return due July 15: Extension automatic with form
If you could not meet with your preparer and can’t complete the online tax return using one of the FREE software programs, you can obtain an extension to October 15 just by filing a form with an estimate of what you owe. IRS wants the money—the return can wait—since they have 3 years to find any errors. Fill and print and pay form:  https://www.irs.gov/pub/irs-pdf/f4868.pdf  Paper return refunds delayed again. No folks.
If you cannot pay now, sign a payment plan so you pay over time. Since millions are out of work, this is expected to be big solution. It is unclear what your interest rate will be.


**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQMobster?

Trump cult of ‘hoax’ drank the Kool Aid



How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 
Virus scientists are ignored/banished leaving us with political hate.

Trump’s WALL failing already: Trump donor got $1.7 billion but has no wall experience

SCAMS/SPINS:
Is Trumpism fascistic or just a con’s entertainment genre? GOP extinguished
Trump: my doctors were "very surprised" by my "unbelievable" results of my cognitive tests: 100

Stone: “Like God, Trump was merciful”: Lying to Congress; tampering with witnesses! Guilty

Jared Kushner, huge landlord, not scientist, says his pandemic preparation is a “success story.”
US set new record virus cases--pass 70,000 in ONE day: Jared still in charge? still debate masks

Trump willing to allow 50,000 more adults and children die just to get elected School dangerous?
GA bans anyone from using masks: no city/town can insist citizen save life: Gov on Kool Aid
Even AL now require masks for pandemic: Trump Cultists Waking Up to The 2020 Disaster
But some resist wearing masks with guns: girl stops shoot out over mask use in FL Walmart


Trump, not CDC, will now control virus data: Hospitals data to be messaged by WH politicians
Trump campaign called Death Star, empire’s weapon to destroy good guys; gets ‘hot air’ bomb!

Are Fauci and other health professionals part of the CIA-FBI deep state? Is every non-Trumper?
Trump giving our ventilators to Putin etc: $200 million other countries but need oxygen

Gun silencers now legal as gun lobbyist hired by Trump: Taliban free to kill troops ‘quietly’

Unemployment check fraud: Scammers use your info to file for benefits: Gov doesn’t help fix it
Methanol sanitizer recall by FDA:  59 varieties of hand sanitizer  to avoid: label says ‘ethanol’
Fake blackmail scam: email says they know your info/pictures on computer: pay of they share

Benjamin Alderson Bradley Hamilton caught misleading clients pension transfers; fine/defrocked
GST Factoring caught stealing fees student-loan debt-relief business: repay $11.8 million; $1 fine
Townstone Financial caught illegal redlining mortgage business Chicago area:
TurboTax H&R Block caught “unfair abusive practices” divert from free file to paid products

Is it a scam: check AARP scamline 877.908.3360.

Jobs
Facing eviction: know your options
3 AZ teachers shared classroom; wore masks, gloves; 3 got virus—one has died
Walmart health insurance sales: huge market; captive audience; low-cost policy seniors


Who owns your account now?
Hedge fund to buy newspaper publisher McClatchy out of bankruptcy: 163 years family
KFC going to plant-based former fried “chicken”: so fried tofu batter with more batter?


Miracle:
New York City: zero virus deaths for the first time in four months. 
40% of people infected are asymptomatic. The chance of transmission from them is 75%.
First vaccine tested in U.S. boosted people’s immune systems: now the big trials


Bridger Walker 6 saved his four-year-old sister from a dog attack get acknowledged.


IAN
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