Great gift idea: tax-free ‘Wealth Reserve’

 

Great gift idea: tax-free ‘Wealth Reserve’

Help you child or grandchild get off to a great start in life: open a tax-FREE account for a secure future. You can open an account with them for $1000 and as they make contributions from earnings and holiday gifts, you can show them how their money compounds at over 11% a year. There are no broker fees, charges, or commissions so every $1 works for their future benefit. They never have to pay Uncle Sam either. This is a legal IRS tax shelter. It is the ultimate wealth management system for their whole life. A ‘Wealth Reserve’ is the New American Retirement System: all earnings are tax FREE.

Get them started right: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

GE: corporations and the decline of middle class

75% of jobs at GE are now overseas where the pay is less no unions. In the heartland factories, “There’s no machines running. There’s not any work.” Corporations are using the tax code to move work and official business address so they pay little or no taxes: we pay them. GE has drawn roughly $1.6 billion in federal money since 2000, plus $687 million in state and local awards since 1992, totaling more than $2.2 billion, according to a nonprofit’s subsidy tracker that the report uses. Over roughly the same period, the report says, three out of every four GE jobs in the U.S. disappeared. Our representatives voted to give them a lower rate AND subsidies when they make bad business decisions. They can’t lose. Taxpayers via the Federal Reserve give some business our money to keep them afloat. The PPP provided money to keep workers employed and some businesses sent the jobs offshore and kept the money. Some got PPP money just to add to the salary of senior management. After the pandemic, some workers refused to return to the jobs that pay $7.25 an hour. Since the government created more money to keep Wall Street wealthy happy, inflation has risen the highest rate in 31 years. So if I get a raise, the 6% inflation rate wipes it out in 6 months. The wealthy get to keep their subsidies.

Socialism, American style: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Driving less? Get your discount

When your driving situation changes, check with 3 car insurers to make sure you receive the discounts you deserve. I have saved by moving from State Farm, GEICO, Liberty and AllState. I proved we were driving less since we were not going to the mall, restaurants or the in-laws. We qualified for the discount. We took a driver improvement course and qualified for the discount. We bought a new used car with safety equipment and qualified for the discount. We have driven many miles without an accident and qualified for the discount. We were paying for 3 coverage items we didn’t need and qualified for the discount. We got older and qualified for the discount. There are over 20 discounts and over 100 carrier premium formulas. You have to shop to save.

Get yours/save: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Is managing your own money right for you?

About 70% of households with a net worth of $500,000 or more headed by a person 45 years old or younger largely did self-directed investing in 2019, up from 57% in 2010, according to an analysis of Federal Reserve data by Aite-Novarica Group. Nearly half of them took an above-average risk level in exchange for an above-average rate of return, up from 35% in 2010, the study found, according to the Wall Street Journal report . Advisors who have won back clients use tax planning as the carrot. Some claim they have saved clients $100,000 or more. Advisors convince DIY clients that they need financial planning and are willing to pay never ending fees as percentage of their hard-won portfolios. We don’t know if they could have done the same with a one-time fee-only planner. Some advisors have earned the trust of DIY clients especially after a big loss. Other advisors say that no one person can know everything so DIY will come to them as one who knows things they don’t know. The question is not, ‘do the DIY investors know everything’: the question is, ‘are you will to give up 1-2% of your money ($10,000-$20,000) each year for life.’ Would it be better to pay $1,000-3,000 one time for help when you need it?

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

 

Inflation and the stock market

Historically, stocks tend to do well even during periods of inflation. Steve Hanke, professor of applied economics at Johns Hopkins University, said the average annual return on stocks between 1990 and 2017 was 11%. Even when you factor in the cost of inflation, the average annual return was 8%. You can also do better by avoiding the assets that may suffer during inflationary times. Long-term bonds and certificates of deposit suffer because buying them during periods of inflation means you might miss out on higher rates later. No one wants old low-rate bonds. Short- to intermediate-term bonds are a better choice. Real estate can be a positive investment since rents can match increases in inflation. However, our recent pandemic caused many vacancies and real estate development declines. The bottom line is we just don’t know which investments will hold value during this inflationary period. There are special circumstances at this time. Usually a well diversified portfolio is still the best position for your future. Focus on what you can control—steady contributions. Warren Buffett has a plan for you.

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

 

DIY investors hire only the specialist needed

Most DIY investors have a strategy to make and maintain a portfolio. They usually use a fiduciary (no product pushing) when asking for help since they don’t need a new product just advice. A financial planner can be helpful when charting their future. When they need to avoid taxation or create an estate or family legacy, they find a specialist. Perhaps a Roth conversion will help if done correctly. Perhaps the new RISE Act can help them pull all the retirement options together. The person could be a lawyer. Hiring a specialist for a specific need at a specific price requires checking creds and reputation. There are vendors who can help them find a specialist. However, asking a large brokerage firm, with a commission/fee business model, is usually not helpful. Most successful fee-only planners have the contacts to provide a valuable referral.

Consider all options: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

 

 

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

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

 

“The Coup is ongoing”

 

Congress subpoenas can be ignored?

 

“Hang Mike Pence” OK to threaten the life of VP

 

Jacob Chansley terrorist gets 3 years

 

 

 

How Govt wastes our money:

Manchin decides to cut social services but voted for Trump/GOP tax breaks for rich

We will spend $93 billion on the moon to “establish human presence there”

Despite promises no more drilling, Biden’s is bigger than any lease sale: US pollution

 

Will Congress give IRS tech upgrade to collect $100 Billion from tax avoiders?

 

 

SCAMS/SPINS:

Biden lied: drugs up not down: Medicare up 15% $21.60: from $148.50 to $170.10

Manchin opposes electric cars: favors coal mining tax credits and subsidies instead

Manchin gets delay in global coal use limits: earns $500,000 per year from coal co

 

Unlawful firearm charge dismissed: Child takes loaded gun to riot far away, kills 2.

 

Advisors caught overcharging us: poor math skills, delay, fraud, lazy, no mgr check

Amazon order email scam: call to speed order by giving up our credit card number 

FirstCash Cash America West caught charging military >36% rate on pawn loan

Brian Wedgeworth FL caught using fake Dr line on dating sites steal $750K 21 women

 

Lina Maria Garcia FL caught steering profitable trades to lover’s account: $5 million 

Our spices contain heavy metals: toxic for kids: CR reports

Dallas BEWARE: driverless UPS big rigs are coming to town from Houston. Stay away

 

“grandparent scam" relative in trouble 82-year-old Florida grandMom lost $700,000

Fake landlord scam: evictions ruin families

So easy to mislead fellow internet users: without trust, can democracy survive?

Holodeck future: playing with yourself? Back to the 50s The Weldt

 

Child cries as tells how killed 2 men during protest: attacker claims ‘self defense’?

3 White men with guns chase Black, kill him and claim ‘self defense’  How?

FBI, DA & police admit hid evidence of real killers of Malcolm X  system racism

 

Trump’s General Flynn calls for 1 national religion—2020 pledged to follow Q

Trump needs cash for failed businesses: sells marquee Washington Hotel near WH

Trump’s litigation delay tactic worked for taxes and now for Jan 6 Coup-attempt docs

 

Chants calling for hanging of VP is just “common sense” says president Trump WOW!

Are death threats to Congress person legal? GOP Gosar not arrested! But we are

 

140,000 children lost a parent/caregiver to Covid: get vax for your kids’ benefit

 

Jobs

Solution to low-pay jobs unfilled by Americans: immigrants have taken them for 200 yrs

10 Fastest-Growing Jobs for Young Professionals: tech and helping others

500,000 nurses quitting early due to pandemic overwork schedules

 

Who owns your account now?

Electric SUV bottom CR reliability survey: Lincoln, Tesla, Jeep, Genesis, VW bottom

 

Miracles:

Can a miracle change world climate deniers’ opinions? Catastrophe usually needed

2/3 of vaccinated Americans are banning unvaccinated family members from holidays

Abraham Olagbegi 13-year-old gets bone marrow then feeds homeless with grant

 

Saving the beauty of the old crafts for the next generation in LA: Thanks

2 - 3 cups of coffee, 3 - 5 cups of tea had lowest risk of stroke and dementia

MI church shelters 10-point buck on opening day of deer hunting season.

 

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

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Need an extra $3,000 a year?

 How we verify financial offerings are NOT scams?

Verify all the information you receive. Most of us get our news on social media. For instance here are 5 outright fakes thousands of us may take as true information. Twitter, Facebook, Google, and other sources are favored by most scammers since there is no editor checking the validity of the offers. Most financial scams are started online. Many of us are tempted to click on the email from imposters who use logos from our regular bank, online store and gov agencies. Recently I was informed that my PayPal account was suspended and I could fix it by clicking the link. I deleted the email and went directly to PayPal to verify no suspension. PayPal keeps a list of all the scams they see. Google News provides a “Fact check” blotter to highlight false/misleading info. Others like snopes.com/fact-check/biden-nephew/ track plain lies. We might be better off reading social media a entertainment not news. To verify any info or offer, I use traditional news organizations like AP, Reuters, NY Times, and Washington Post. We pay editors to check. When I read claims like a 7% annuity rate, for instance, I know they are fake--not possible. If I did not know about annuities, I would check widely regarded sources like Kiplinger, Money, DowJones, and an expert seller like immediateannuities.com/. Broker scams like Ponzi schemes are harder to detect since trust might exist. However, beware guarantees, high consistent returns. Confirm unusual behavior with the firm’s supervisor.

Better safe than sorry: https://www.amazon.com/Money-Scams-2014-insurance-financial/dp/1505437962

 

Why pay higher car premiums?

Errors in your credit report and score mean you pay more for car, home and life insurance. Clear up your ‘rap’ sheet so you know the ‘score’ before you shop for new credit. Most credit reports have errors others created. For instance, collectors place invalid or fake debts on your reports to coerce you to pay them. We have to clean up their mess. Credit is easy to lose with wrong info. My personal experience: bureau put another person’s (similar name) defaults on MY report. I was denied credit card and had to pay higher life and car insurance premiums. Can’t sue: government protects credit bureaus so their mistakes are never punished. Find and fix your credit reports before your rates go up: https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports. Paying $ hundreds to “protect your credit” does not actually stop bad things from happening. You can “monitor” your own credit and SS number abuse at no cost. You can get a free copy of your credit report every 12 months from each bureau: AnnualCreditReport.com  Check credit score: https://www.creditkarma.com/credit-scores. Insurers, landlords, auto dealers, banks, lawyers and lenders use your credit reports. Anyone can buy your credit reports.

Save on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Need an extra $3,000 a year?

Save $3,000 a year on financial products/services you don’t need or get for less. We are living longer. We will need more savings for up to 30 years in retirement. Even if we work after age 67, we will eventually not be able to work. Planning for more income later requires we save more now, while we can. Compare what you spend to the US average household spending standard to see where you might save $3,000 a year. My reader’s biggest savings: $3,000 a year in money management fees/commissions. Example: $200,000 nest egg advisor fees 1.5% per year: Save $3,000 by moving to low-fee index account. $3,000 per year savings can add $350,000 to your funds in just 25 years; $1 million in 35 years. Avoid nursing home later.

Stop wasting you money: https://www.amazon.com/Stop-wasting-3000-every-year/dp/146108394X

 

Best gift for your child/grandchild

Don’t you wish your parents had started a tax-FREE investment account for you when you were young? You might be a millionaire already if they had bought Apple, Google, Microsoft, Amazon, Facebook, Berkshire Hathaway, Johnson & Johnson, JPMorgan Chase, Visa, and Procter & Gamble 10, 20, 30 years ago. Make sure you teach your kids how to create wealth the easy way by using compounding and low-cost index accounts. According to Warren Buffett investing is not rocket science but just being patient: time. Most of my readers earn 11% a year on average.

Start today: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

 

 

 

 

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

 

Like 1776, this period is a test of democracy—We rejected the "American fascist" 

 

 

GOP Supremes block American dictatorship

 

GOP Supremes crowned Bush II: Scalia stopped vote counts

 

Trumpists scare representatives with home bombings

 

Healing America begins with admission: 315,000 dead

 

Dictator’s advisor: “we want them infected”

 

 

Our ‘Truth and Reconciliation Commission’? 

 

 

 

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy! 

Congress says NO: Americans forced to steal food: 42 million in poverty: line for food

Congress ignores 885,000 new unemployed: talking for months: pawn in power plays

One man, McConnell, holds millions of lives in his hand: is this really our government?

 

Trump process: 'deconstruction of the administrative state' as promised: 315,000+ dead

Trump goes after endangered animals as revenge on nature lovers/anti-coal/oil/gas folks

 

Putin breaks our secret codes after we spent $ billions to protect them: get refund?

Biden saves us taxpayers 2.6 Billion on first day: Dictator’s Wall falls: symbol of fear.

 

The Emperor has no clothes: Trump con: “We keep going.”  Takes home $200 million

GOP claims rejected by at least 86 judges in more than 50 court cases: Insanity.

Trump’s lawyer, not our Attorney General, forced to quit or be fired for not lying again!

Trump gathers fellow travelers as Coup attempt continues: Will terrorists occupy WH?

 

Hacked federal agencies bought same software: easy hack by USSR: Putin laughs, Trump silent

Supremes again knock down public health for ‘religious’ events: mass infections OK

‘Religious’ nonprofits violate Constitution separation: pay GOP favorites for rulings 

Trump’s deal skills: US pays more for vaccine than EU. Refused to buy more early

 

Wealth spends the $3.7 T tax break: Lou Gehrig 1931 dirty stinky jersey for $1.5 million.

Tom Brady got $1 million instead of our small businesses: local stores 130 got no jobs

Fed will keep giving our cash to stock markets: wealthy won’t panic take their money out

 

SCAMS/SPINS:

Texas GOP: "law-abiding states" should "form a Union": TX leading Civil War II

Trump urges overthrow of government of GA, AZ: sedition charges in February?

126 House GOP pledged to help overturn legal election to install dictator: sedition?

Trumpers still think God chose Trump president 2^nd term: “the winner pop into my head”

 

January House swearing Oath of office to Constitution or to Trumpism for 126 GOP?

Only 1 House GOP sorry GOP not support Constitution election process: Mitchell quits

Putin acknowledges Biden while House GOP still plotting to vote NO Jan 6 certification

Moscow Mitch finally got the OK to call Biden re: US election month later.

 

Secession talk in 17 states which backed TX move to overthrow US democracy

Admitted felon Gen Flynn says Trump still prez: ‘people decide not courts’ we did!

Will former General Flynn lead AR 15 terrorists to block Biden from White House?

Trump: I won so “I am not leaving” WH Jan 20: Biden may need army to oust him.

 

More fake posts to incite anti-vaccine movement: fake pic of MAGA rally

Local firefighters ignore danger, have party, no masks, get virus: now, houses burn.

Dodge City mayor quits after threats to life from anti-mask terrorists: US at war

Ivanka decides: “These blanket lockdowns are not grounded in science.” Let’s try an island

 

Alder Holdings failed tell buyers using credit reports to charge more for alarm services

CapWealth Advisors caught selling higher-cost funds overcharging w/o consent; no jail

Lay off 100,000 to keep company profits flowing to wealthy: 27 of the 50 largest firms

Brokerage Robinhood caught misleading customers on how it makes money 

Wealthy jump the line for vaccine: “If I donate $25,000 …” Concierge doctors for price

 

Card scammers: gas station swipe device takes CC strip #s: use credit not debit

Zoom phishing scams are the latest conduit for planting malware: “click to reactivate”

Least reliable vehicles by Consumer Reports: some cost over $90,000 pay more get less

 

 

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Living longer means part-time jobs of all kinds: https://jobs.aarp.org/

Nurses will always have a job: traveling nurses in high demand; $5,616/wk

White House staffer got Covid 3 mo hospital: needs donations: no insurance no T help?

 

Who owns your account now?

Best time to buy a used car and save $1-3,000: Not Christmas; not new models’ day

 

 

Miracles:

Trump declines vaccine for WH: staff does not need protection [from hoax]: Con man

Can GOPs find their souls or has Trumpism destroyed them? Matthew 16:26

Rapid virus test at home no lab no doctor approved by FDA: Ellume & others

 

‘Legal’ drug dealers pay $65 million to help kill 470,000 people: no arrests for murder

 

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

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Financial industry BIG LIE

Financial industry BIG LIE

Many investors still believe their advisor broker or agent charges NOTHING. Among mutual fund investors, 32% believed they do not pay fees or expenses, according to new study. The survey showed that 46% of the participants mistakenly think that the past performance of an investment is a good indicator of future results. Since investing is not taught in school, the only source of information is the industry’s sales people. They have a vested interest in keep us dumb about investing and how they get paid just as doctors don’t tell patients they are paid to push certain drugs. And the industry has convinced us that we have enough information to make good decisions. Sites that offer contrary information about sale of financial products like BrokerCheck or Investor.gov are hardly used. Most investors don’t realize how much they pay for bad advice over their lifetimes. The average investor earned just 3.79% vs 11% from a low-cost market index fund and that over 30 years, they give up 63% of their potential earnings.

Avoid the BIG LIE: https://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

Do we really need an advisor now?

‘Next Decade Will Bring the Demise of Hundreds of Advisory Firms.’ This was the topic of one recent advisor conference. The industry has changed. Commissions are lower or $0. Low-cost fund firm Vanguard is growing faster than any other fund firm. Brokerage firms are bought by banks or consolidating. Many firms are eliminating smaller accounts. Their wealthy clients are going into art, private debt, and hard assets. Our life stages have changed and so we will need ‘lifestyle counselors.’ Technology has changed the way we invest and manage our money. We don’t need a sales person to tell us how to make money. Most people understand that costs are important in the long run to retire. Over time, whether we use a 401k or advisor, we waste up to 63% of our total potential accumulations in fees, commissions, trading, timing schemes. Instead, we can answer our own questions of how to invest and manage money.  

We use Warren Buffett as our money coach: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Are the new leveraged and inverse exchange-traded funds right for you?

Brokerage firms are proposing that the SEC allow them to sell the “riskiest” ETFs. However, some of the ETF industry's most controversial products come with a caveat that could doom them to irrelevance: brokers must document whether investors understand their risks. Since many traders love the potential of huge gains, wirehouses have a huge potential market of buyers. But how will they prove we understand we could lose more than we bet? Leveraged products use derivatives to boost their returns or move in the opposite direction to their benchmarks. While these strategies can mean big bucks, they can also amplify losses, especially for the less experienced ‘players.’ Historically, the average investor earns only 3.79% instead of the market index return of 11% because they lose as much as they gain. As one analyst put it: "Anything new that is coming in at the margins will likely aim for something more esoteric, more gimmicky." These products have been banned for 10 years for a reason. Casinos offer thrills for less.

Earn 11% not 3.79%: https://www.amazon.com/Win-Investment-War-Earn-11-Not-3/dp/1522916369

Our incomes barely budged in 50 years

The average real (after inflation) annual income after taxes and transfers has edged up a meager $8,000 since 1970, rising from just over $19,000 to just over $27,000 in 2018. By contrast, among the top 1 percent of earners, average income even after taxes and transfers has tripled since 1970, rising by more than $800,000, from just over $300,000 to over $1 million in 2018. This is why we can’t afford a decent retirement fund, college for the kids, or even a home, in recent years. The money we earned for the American Dream got sent up the line to the bosses and owners: the top .01 % has increased their incomes nearly sevenfold, from just over $3.5 million to over $24 million. Their taxes went down to 17% while ours went up to 33%. The wealthy have screwed us all and the Dem’s plans to raise taxes on income or wealth will fail just like in the past.

American Socialism for the Rich: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

Are the new mobile trading apps right for you?

Apps from Charles Schwab, Wells Fargo and Edward Jones all earned high marks from users relative to the rest of the brokerage industry according to J.D. Power. Our question: do we earn more money by having the ability to trade securities at our finger tips? Fast trading is usually what leads to greater losses over greater gains. With computer trading and order execution by full-time geeks, is it really possible to beat Wall Street workers? Impulse buying is a marketing tool of the grocery industry. Historically most us fail to beat the lowly market index. Warren Buffett recently proved this again. Trading by click could be the equivalent to playing the lottery every week—spend $1,000 win $750.

Use Buffett as advisor: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

What is a ‘safe’ investment strategy?

In one day, I received three totally different messages from so-called “professional” Wall Streeters on the future of my investments. It’s no wonder we investors are always paying the WRONG advisor. Thing is, NONE of them know what will happen. When I worked in the industry, the expensive suits on the top floor had to come up with new reasons for our clients to buy or sell every week. As one veteran confessed, “we don’t make any money unless there is activity.” So Citi says stocks. Bloomberg says risks ahead. One says Recession: ‘Get into cash.’ Another says No recession. Whatever your advisor recommends doesn’t matter by next month so the best strategy is to stay in a diversified portfolio like the top 10 from low-cost Vanguard and don’t pay fees for ‘advice’ (guessing is more accurate). Hey, you are the one taking all the risks and paying the fees, charges, commissions.

Earn 11% not 3.79%: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Convert your IRA to a Roth and leave a TAX FREE legacy

When you take out IRA money after you reach 70 ½ years, you can pay tax as you are required to do and pop the amount up to $7,000 into your Roth IRA with a child or grandchild as beneficiary. It grows Tax FREE until you pass and becomes your legacy without the taxes you, nor they, pay. You can even change the owner later on so this cash build up over the years is not counted in your estate. Since you are forced to take this money out as your RMD each year, you create an estate for them without ANY tax to them: Perfect reminder of your generosity.

Create a legacy: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Best holiday gift for your young person—lasts a lifetime

Your child or grandchild could have a $2,000,000 Wealth Reserve providing tax-FREE income later in life. Your annual or monthly gift could provide your favorite child with real “social security:” their own tax-FREE money fund. You help them take advantage of the miracle of compounding. Put $250 a month ($3,000 a year) in a low-cost stock index fund earning 11% and watch it explode: moneychimp.com/calculator/compound_interest_calculator.htm. Your gift becomes a $1-2,000,000 Wealth Reserve. You could reduce your taxable estate by up to $500,000 for each child. Your child or grandchild may NEVER have to pay taxes on the money either if you use a Roth IRA. Social Security will exhaust its reserve fund in about 2034, according to 2018 projections. Every year you delay helping them with a gift costs your favorite kid $100,000 later.

Start giving this holiday: https://www.amazon.com/Give-your-Child-Grandchild-2000000-Lifetime/dp/1456433105

Is ‘bundling’ auto and home insurance right for you?

First, since insurance companies like Progressive use this as a marketing tool, you need to check it out for your situation. You know it is a great deal for insurers since they push it. Second, they claim to save you money on the total premium but this can be bad for you. Their ‘bundle’ of policies may not cover what you need. Example: I had an oil tank in the ground for oil-fired steam. When I tried to bundle with my auto, all insurers refused. My home insurer grandfathered my coverage from a previous home and I have over 40 years with them. Third, if you have a lot of claims on your home and a perfect driving record, one ‘rap sheet’ will hurt your total premium. Better look for separate coverage. Fourth, insurers count your credit report with different weights. Bad credit means bad driving and home care behavior to some of them. Shop separately to compare your best deal. Remember that insurers are NOT your friends—they hate paying claims.

Shop every two years for auto: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

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

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

Bulling a 16 year old because she won and he didn’t

Trump is NOT above the law. Trump can’t obstruct justice or use his position to enrich himself. Big Con

Trump calls FBI ‘scum’ for investigating his mob’s contacts with Russians.

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Live in TX? Trump is going to take your home for WALL: no 2^nd Amndmnt for homes.

Judge tells Trump NO, can’t build WALL with military money for other purpose.

Wasted $133 billion constructing and then bombing Afghanistan: created corruption?

Boeing and FAA ignored clear signs 737 was dangerous: self-inspecting kills people

What kind of government puts children in cages separated from their parents?

Arming Space Force to fight wars in space: WWIII by remote control built by Boeing

Here are the folks who actually write the laws of this country: Example: Citibank

Trump vowed to change Medicare to negotiate drug prices: Drug cos pay GOP!

Trump still holding up $20 million for Ukraine: waiting for dirt for 2020 election?

SCAMS/SPINS:

Supremes help Trump hide his Russia money-laundering through Deutsche Bank

Trump’s vigilantes build his WALL illegally: Prez can give pardon to any criminal!

Trump raises fees for info on our immigrant forbearers to destroy our real histories

Insurer lures young annuity buyers by invoking parents' financial woes: fear-buying

Regulators let money manager hide ETF portfolios, including exotic items: buyer beware

Credit card debt hits 10-year high: “This is well-managed delinquency,”

Marcus Boggs caught stealing $2 millions: “very charming”

Jefferies brokerage caught mishandling ADR foreign securities: $4 million settlement

BitClub Network ran Ponzi scheme for fake $722 million cryptocurrency ‘miners’

Money buys Elections: Bloomberg, Trump, Biden, Putin, Soros, etc: Facebook profits

Medicare Advantage premiums for 2020: 23% lower than they were for 2018!

Boeing pays $3.9 million for killing 346 people in planes they knew were unsafe

Boeing forcing NASA into another cost overrun project: prop up failed 737.

Trump claims a higher property value to get loans and a lower value to get tax break LIE

Trump concerned how we flush toilet/wash hands: Giuliani makes Ukraine waste line.

Saudi pilot trainees led the 9/11 attack also: Trump defends Saudis after this Saudi attack

FBI knew foreign radicals could buy guns just by having hunting license: ISIS told Saudi

SCAM: ‘Save’ by switching gas/electric utility: but who to call if wires down/gas leak?

IRS makes tax prep more complicated to help paid preparers: Added 6 Sch to 1040.

Who owns your account?

CA banned medical surprise billing: protects people from bills of docs out of network

Jobs

Moving to avoid high state/property taxes? Consider wisely avoiding $10,000 cap SALT

Don Jr citing all the attacks on the Trumps, kills endangered argali sheep in Mongolia

Baseball player wins 7 year contract for $245 million: Avg Team revenue $330 million

Miracle:

Global warming: CA gets historic 75 foot wave—lucky at low tide but next time?

Boston bomber claims trial 6 years ago not fair: killed/injured 280 people: hated US

Atlantic coast will move 1 mile or more in our lifetimes: where is your home?

ObamaCare mandate actually saved lives by forcing states to offer coverage

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Best gift for your young person—lasts a lifetime

Best gift for your young person—lasts a lifetime

Your child or grandchild could have a $2,000,000 Wealth Reserve providing tax-FREE income later in life. Your annual or monthly gift could provide your favorite child with real “social security:” their own tax-FREE money fund. You help them take advantage of the miracle of compounding. Your gift becomes a $1-2,000,000 Wealth Reserve. You could reduce your taxable estate by up  to $500,000 for each child. Your child or grandchild will NEVER have to pay taxes on the money either. Social Security will exhaust its reserve fund in about 2034, according to 2018 projections. Every year you delay helping them with a gift costs your favorite kid $100,000 later.

Start giving this holiday: https://www.amazon.com/Give-your-Child-Grandchild-2000000-Lifetime/dp/1456433105

Rethinking living life to age 100?

Longevity—living longer—and longevity risk—running out of money—are real concerns for anyone age 60 today. Maintaining physical fitness from the beginning to end of life will be paramount. Getting outside, encouraging sports, reducing the time we sit, and spending more time walking and moving will greatly improve individual lives. There is good reason to think we will work longer, but we can improve work quality with shorter workweeks, flexible scheduling and frequent “retirements.” The problem is living in cultures designed for lives half as long as the ones we have. Flexibility is the key to living well longer through different stages than in the past.

https://www.amazon.com/Longevity-Insurance-right-better-alternatives/dp/1482031434

Where can you invest $100 for your child’s future?

Teach your child to invest the Buffett way. Success with money starts early. Compounding over time assures your child of security. You have a great opportunity to teach your child how to become successful with money. They can learn to take care of themselves and even become wealthy from your guidance TODAY. You can show them how to take advantage of the greatest power in finance: compound interest and the time value of money. Warren Buffett, who turned his paper route savings into $60 billion, credited compounding over time for his wealth. "My wealth has come from a combination of living in America, some lucky genes, and compound interest." $100 a month can reach $867,000 in time.

It is TIME not stock-picking: https://www.amazon.com/Where-can-your-child-invest/dp/1492164240

Part-time job tax reporting change

IRS ruled recently that if you receive a 1099 MISC for work done which is NOT “your regular trade or business for a profit,” you may report it as miscellaneous income on line 8, 1040 instead of as a new business. Even if the payer makes a mistake and enters it in box 7, you are allowed to treat it as ‘other income’ as in box 3. If you use tax prep software, you are now allowed to move the amount reported in box 7 to box 3. This means you are not forced to complete the self-employment tax Schedule SE and business Schedule C. Usually, miscellaneous payments are for occasional remuneration for a task, not a business or trade involving expenses and the profit potential. Also for retirees, adding payments to their SS earnings record may reduce their future benefits since the remuneration may decrease the average earnings formula calculated annually. Example 1: retired social worker provides part year classes in yoga at her church. Unless she reports the $2500 from box 7 as box 3, she will owe over $800 additional tax or loss of refund. She is not teaching yoga for biz profit and there are no expenses involved in the activity. The IRS will accept reporting non-business income on line 8 despite an entry in box 7 on 1099 MISC. https://www.irs.gov/pub/irs-prior/i1099msc--2019.pdf

Example 2: high school student works at local CVS and plays drums for occasional events at a YMCA. He is learning to be a drummer as a future artist. He has expenses like transport, sticks, new heads, etc in pursuit of a profit. His 1099 MISC earnings total is in box 7. He must complete Schedule C and SE since he is an artist for a profit.

Confirm new ruling with your tax preparer.

Social Security will not be enough

Retirees receiving SS benefits in 2020 are getting a raise—a COLA. However, most will see a decrease in benefits since the Medicare B cost has gone up to $144.60 and is often deducted automatically. Looking forward in retirement, this will probably happen in future years. Plus, Congress is not likely to fix the failing SS benefit reserve fund which the trustees warn may cut benefits by 21% in 2034—just 14 years from now. For those near retirement, this is a warning: forget that new car costing over $40,000 and invest it. For those with 20 years or more before retirement, add an extra $250 a month to your 401k, Roth 401k, IRA or Roth IRA now.

Act now: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

How average is your tax deduction for charity?

If you still itemize deductions, this category has not been capped like the property and state income tax category. But how much can you reasonably deduct without generating a letter from the IRS? Perhaps if you stay close to the average for your income level you will be ‘safe.’ No one is ‘safe’ since the average taxpayer is just as likely as the super wealth to be audited. However, most of us don’t have the same lawyers as the tax avoiders do to fight the audit. I am asked how much to deduct by some clients when I do their taxes. I say “whatever you have receipts for.” However, the Vets, Red Cross and others don’t give you a value on your donation receipts. Any valuable item like a $4,000 wheelchair needs an appraisal or purchasing documentation. The IRS provides round numbers here: https://www.usatoday.com/ story/money/taxes/2018/07/06/how-much-average-taxpayer-give-charity-taxes-2018/36561381/ Be prepared to give receipts or docs if you claim much more than your income group average. Fewer middle-income folks are itemizing since the standard deduction was doubled last year. In recent years the IRS has quit auditing many wealthy folks. The IRS goes for the single mother with children since they know she has no money and no lawyer. America now has Socialism for the Rich:

Rich get richer with help: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

This investment is what most people are looking for

Most ‘investors’ are not traders. They understand that steady growth over time is better for their future happiness than constant worry about the current hot ‘opportunities.’ When we look at the funds that offer both growth and income before and during retirement, we use a fund’s long-term returns as a guide. Recently, a popular site called Seeking Alpha examined a fund that provides a well-rounded solution. The summary: “The Vanguard Wellesley Income fund, a mere conservative balanced fund, outperformed the S&P from 2000 to 2019. This fund proved suitable for all seasons, evidenced by its performance during major market meltdowns (i.e., 2000 and 2008). Three words might describe this fund: longevity, consistency and performance.” A total return of 9.7% since 1970 seems like an exceptional bargain in the growth and income space. A yield of 2.56% makes this fund superior to most fixed annuities for income since your capital is preserved. This is one of our choices for pre and post retirement.

One of the Vanguard Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Congress may give insurers and salespeople a big bonus for 2020

If they pass the SECURE Act, "The SECURE Act will make it easier for employers to offer as part of their retirement plans annuities that provide a guaranteed stream of lifetime income," says an insurance lobbyist. Employers and their retirement plan person can entice us into high-cost plans that lock up our retirement dollars into an insurer’s vaults. Using industry trick-phrases like “guaranteed income you can’t outlive” and misleading charts with best possible outcomes, employers can wash their hands of any future responsibility for the inevitable low payouts down the line. For instance, when we chose an annuity of $1000 a month in 2020, we will have no recourse when it buys only $500 a month benefits in 20 years. Currently, a retiree can shop and buy the best annuity deal out there with their money. Under SECURE, employers will be able to escape any future suit when an annuity ‘guarantee’ goes wrong. We are NOT secure with SECURE. Learn the annuity facts: https://www.amazon.com/Annuity-Decision-Tree-questions-answers/dp/1546454497

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

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

Courts: “Presidents are not kings”

Presidents don’t paste their face on other’s bodies—even as joke

Presidents do blame everyone else for their crimes

Trump supporter Duncan Hunter guilty: Another pardon candidate?

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Drug dealers say ‘no’ to Trump importing drugs: Dealers want to be paid more not less.

TN to control poor’s health by bloc grant: refuse Medicaid money—TN decides if sick!

Trump supports Socialist Export- Import Bank to subsidize Boeing, Caterpillar, GE

Wealthy avoid global warming cuts: fossil-burning generators: we pay the tax credits

Trump gives $ millions to GOP donor to build his WALL on wildlife refuge

IRS tells employers to delay ACA required 1095 forms: some taxpayers lose

SCAMS/SPINS:

Trump cuts 1 million student lunches and food stamps to pay for his tax break: $4 Billion

GOP: Trump better prez than Lincoln; Dems know the history: It’s ‘fake history’ now

Whose money will win 2020 election? Lobbyists ‘help’ our Reps decide everything.

FoxNews’ Tucker Carlson is backing Putin: How much does that earn FoxNews?

Voters don’t care whether Trump’s mob broke the law: Propaganda works--Hitler knew it

BEWARE: your new TV w/ camera can be hacked: connection internet is open door

Avoid these car repair scams: Anything to do with a ‘flush’ is red flag.

CA tells insurers not to cancel 800,000 fire victims’ coverage: hits ‘no claim’ clients.

Ronald Roach caught fraud $1 billion Ponzi faked statements: defrocked 10 yrs jail

Joseph Bayliss caught fraud selling contracts on solar generators never bought/used

TMTE, Metals.com caught inducing liquidation retirement acct for gold: 50+% fees

Rafael E Rodriguez 210 Workers LLC caught healthcare fraud billing fake therapy: jail

Samuel Barnett SBB Research caught pumping hedge returns fake data: $1.4 mil fees

Lester Burroughs caught Ponzi stealing from clients with fake products

Laurence Allen used “other people’s $13 million savings as his personal piggy bank

Regulators allow broker defaults on arbitration wins: investors abused: can’t collect

Regulators admit firms don’t control bad sales & rogue sellers: allow fraud on clients

Some states welcome new talent: Refugees welcomed by some communities

U.S. students lag behind East Asia, Europe kids in reading, math, science. Need refugees

What housing crisis? 920,000 homes released into the market each year: boomers passing

Zimmerman now wants Trayvon Martin’s family money after he took their son.

Who owns your account?

Does your broker/advisor still charge commissions? LPL just dropped them to $0

Jobs

Working BEFORE your SS benefit age: lose $1 for every $2 earned over $17,640. 

Americans don’t want some jobs so immigration is answer Mr Trump: Car repair techs

Trump employs many undocumented workers despite his propaganda

Trump employs accounting tricks that only apply in the real estate biz so no indictments!

Miracle:

Catholic church covered up years of abuse of boys with bribes from Bishop: No jail time.

Buffalo bishop resigns after yrs covering up abuse of children: FBI & suits: no jail time.

Cut emissions by half by 2030 to keep the world temp increase under 1.5 degrees, report.

Boy Scouts borrow against ranch to pay thousands of child abuse suits: ‘trustworthy’ ??

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert