Your Unbiased Advisor: NRA's Congress

Showing posts with label NRA's Congress. Show all posts

Friday, August 23, 2019

Recession talk scare you?

Where to put your money if recession talk scares you?

There is talk of recession since people who claim they know economics get paid to scare us. Since no one knows for sure when and how this event will take place, we are on our own to decide what to do. Some are already running for their money market accounts even with low rates compared with inflation. Clearly stock and bond markets will be unsteady. Our choice, as always, will be decided based on our time horizon. Warren Buffett is looking for bargains at this point. He already had tons of cash. But he isn’t selling his portfolio as if the world will give up on capitalism. Long-term stocks will beat inflation. Our cash and bonds may help us avoid a big plunge in current account values. However, like Buffett, we should hold our long-term investments with a balanced approach. If we need cash in the next year we should have been accumulating it up to now. Many of our members have been buying the balanced fund Wellesley Income for years since it has maintained a return of over 9% since 1970 with low expenses.

No-worry money advisor: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Elder bankruptcy up

Bankruptcy has increased to 12% from 2% in 1991 for retired persons. Weakened trade unions, stagnated wages and the disappearance of pensions are among the factors that contributed to rising elderly bankruptcy. Many retirees also face rising medical costs as they live longer than expected and Medicare covers a smaller share of their health care needs. What can pre-retirees do? Contrary to what many people think, saving for retirement can help employees boost their ability to pay their student loans, according to a CNBC article. That’s because pretax contributions to traditional retirement plans can help minimize their adjusted gross income. Since the monthly student loan payments are based on AGI, a lower AGI could result in lower payments. “Any time you can put money into your qualified retirement plan at work, it’s always a good thing,” according to an adviser. The most important factor in avoiding a lack of cash later is using the miracle of compounding as early as possible. Compounding can double your money in 7-10 years. Thus doubling your 401k contributions to low-cost stock funds even at age 50 can improve your nest egg three fold. Warren Buffett says compounding made him wealthy.

https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513/

Is your advisor helping you this year?

If you are paying your advisor for money management—1-2% of your TOTAL nest egg—you have a right to ask this question. What is their track record? The market has provided 9% for the last 10 years including -37% in 2008 (2008-2018). So far in 2019, you should have earned over 17% with 11% long term returns. If that ‘professional’ advice you are overpaying for has not been useful, perhaps it is time to switch to Warren Buffett’s strategy. When you need special advice you could pay for it at the CFP’s hourly rate like a lawyer. $750 for 3 hour review of your plan vs $7,500 over 10 years of fees. Otherwise, Buffett recommends low-cost index funds. Morningstar has found that the most important determinant of investment success is the cost.

Try Warren’s Way: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

DIY Financial Independence: Freedom Workbook

Put your money to work so you don’t have to.

Use your IRS-approved tax shelter—Pay 0% on asset gains.

Accumulate $250,000, $500,000 even $1,000,000 tax-FREE. You achieve Financial Independence by having enough money to do what you want. When you don't have to rely on work to survive, you are financially independent. Playing it safe won't achieve it. You don't have to be super wealthy to become free of money worries. Financially independent people have one thing in common: they put their money to work so they don't have to. If you don't put your money to work, you will never be free. 'Compound interest' is the name of the process by which money makes money. You don't need to do a thing besides sending $250 to work every month. You earn money every time you buy things. You own part of the businesses. Compounding is what Warren Buffett counts on for success.

“My wealth has come from a combination of living in America, some lucky genes, and

compound interest.”

How much can your money earn for you? It depends on how long it works and where you put it to work. The best strategy is to use your Wealth Reserve to shield your money while it works in places you shop. You can use a special IRS-approved Tax-FREE account to avoid all tax on investment dividends, earnings and interest. You can also avoid the fees and commissions on this account. Your $250 a month investment may grow to $1,000,000 or more and it is all tax FREE. That $3,000 a year for 33 years ($99,000) compounds to $1 million if you put it to work: capitalism.

Put money to work: https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook/dp/1088908500

Women: Median Retirement Income Is 42% Lower Than For Men

An average working woman earns 21% less than an average working man. While a portion of this earnings gap is caused by different career and lifestyle choices between men and women, gender discrimination still sandbags women’s ability to earn an income and thrive during their working years. The gender earnings gap has implications for women as they age. For example, the average woman qualifies for Social Security benefits 23% lower than the average man. On average, women have life expectancies five years longer than men, requiring higher levels of retirement saving. The report’s authors also found that women face higher retirement health-care costs, needing an average of $140,000 by age 65 to have a 90% chance of covering their health care costs, versus $124,000 for men. Women have less income to accomplish higher retirement income needs than men. So women have a greater need to make their investment dollars grow faster than men. Warren Buffett recommends that we are more successful investors by being patient. Women are more successful investors because they are less likely to engage in rapid asset transactions. Buy and hold is often the best strategy.

https://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

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

Families torn apart by Trump’s actions sue $ billions from US not Trump. harmed or fondled!

Trump’s 2017 tax break for family recalled in Trump tariffs: we pay $1,000/year in tariff

Trump considers payroll tax cut to boost failing economy: He also claims not failing!

Trump plans capital gains tax cut: why even bother with Congress taxing authority?

Bank lobby killed rule that kept banks from making wagers with our deposits: Bailout II?

Pentagon cancels ‘missile killer’ project: saves US $1.2 Billion

SCAMS/SPINS:

Bundling your car and home insurance may not be as good for you as it is for insurer.

Trump calls El Paso mayor a RINO to his face: Weak dictators insult grieving to face.

NRA tells Trump to forget background checks: blame mental ill as diversion for votes.

Scam to steal your Medicare ID promise screening for cancer: suffer emotional abuse

Trump rallies are full: participants receive overtime pay from employers.

Now he is calling the Jews ‘disloyal’: his concentration camps are built and ready

Trump changes rules to hold immigrant families ‘indefinitely.’ Jail kids over 20 days.

Trump considers cuts to Medicare to trim deficit: Wealthy tax cuts created $1 Trillion

Trump to end your child’s birthright: we have to pay to buy our kid’s citizenship. Insane!

John Tillotson caught impersonating clients to transfer funds to his firm

Scott Strochak Castleberry caught fraud promised insured real estate returns

Sheraton caught letting legionnaires disease grow in water system: killed 1 guest

Insurance firms pay police/prosecutor to convict customers of faking theft/damage.

IRS does not send emails: do not open email from them

Jobs

The war for talent in the independent broker-dealer industry is real: Best get more fees.

CEO pay grown 940% since 1978, while workers’ pay only 12%. CEO’s power not skills

Execs get the raises this year: workers get discretionary bonus for top performers

Boeing hires to start delivery schedule of 737 Max

Goldman Sachs hiring coders to make trades: Program trading is dangerous like last time.

Who owns your account now?

Low cost places to live when you must start a new life on limited budget.

Vaping may cost you a lung: heavy breathing can give high too.

WV finds and returns $1.2 million in life insurance benefits people did not know about.

Why Robo callers can’t be stopped by government or tech or God: Window-dressing deal

Miracle:

Your lucky day: woman survives chute failure 5,000 foot fall—hit trees at 120 MPH

Miracle if Congress bans AR magazines: NOT for hunting; just killing: 41 in 32 seconds

Catholic teaching: the priest’s “racist” dog got black cleaning lady fired. He blames dog?

Trump retweet: Israelis “love him [Trump] like he is the second coming of God.”

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, October 6, 2017

What about cutting the 956 corp subsidies we pay for?

What about cutting the 956 corp subsidies?

What about the subsidies to 956 profitable corporations?

Tax bill is not an ‘overhaul’ but a gift to rich. The 10% rate goes UP. The 39% rate goes down. More of us will end up in the next higher tax bracket because the bill shifts the income range of each rate. Old rate made taxes for incomes $$9,326 to $37,950 at 15% but new rate 12%, 25%, 35% makes income $9,326 to $37,950 pay 25%. If your income is over $418,000, you will pay less than 20%. Buffett, Romney, Kerry pay under 17%.

The average rate of the richest 400 Americans is just 20%. Taxing investment income at lower rate loses $1.3 trillion over 10 years. This is why you and I must pay more!

‘Overhaul’ means changing sources of revenue and tax “expenditures” known as subsidies and loopholes. We let hedge fund profits be taxed at lower rates because of special interest groups’ FREE gifts to Washington. We give money to agribusiness to turn corn into gas. We give oil companies our money to produce gas too. We give our tax money to plane makers to sell overseas. Many corporations hide their money overseas so they avoid paying tax. We have been paying for the subsidies since 1980s. Trump says he has been waiting to give tax cuts for a long time. He paid ZERO taxes from 1995 on. Wealthy stand to collect windfall from Trump tax cuts like nothing in history. Tax cuts to corps like Koch Ind. used to buy elections and change policy issues.

Pay your fair share: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Wealthy pay only 17% or less now—few pay 39% or even 35%

Wealthy don’t need the government’s taxes. Wealthy people usually take their income as stock dividends and capital gains from assets they own. Like Warren Buffett with $78 billion net worth, they give themselves $100,000 or so in wages. They pay themselves in other ways. They receive stocks and the right to buy stock at a lower price with no current income tax. For cash, they borrow from their assets or a company they own. Loans are not income plus the interest is deductible to the business. They receive benefits from their assets like Trump, who does not pay for his room and meals at his golf clubs, hotels, office or restaurants. They fly on their own planes and rides. When their lawyers do their taxes, they hide their incomes inside special legal entities. Their staffs are deductible. As Buffett admitted, “I pay 17.7%. The average for the office staff including receptionist was 33%. Romney and Kerry pay even less.

Build assets not income: https://www.amazon.com/Your-Hidden-Wealth-Reserve-Reduce/dp/1540435148

Canceling estate tax for millionaires raises debt for us

You and I will never pay the estate tax which starts at $11 million per couple. Trump wants his friends to avoid tax so their families can create a dynasty. Actually, with tax and estate planning they would never have to pay it. Only 1 of 700 families pays this tax and we could use the $ Billions collected to pay debt. We will have to make up the $ billions treasury will miss if his bill passes. No reason that family farms had to be sold for taxes. Don’t you wish you had to sell your $100 million assets to pay the estate tax?

Avoid paying the extra debt: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Use Fact-based Investing not fantasy investing

You now have a choice: buy profitable company stocks at cost using the largest fund firm with licensed reps and FREE planning tools OR trust your salesman to give you hot tips.

Fact-based investing not fake facts from Wall Street marketing!

You pay no commissions or fees so you keep more of your money. If you are a long-term investor, you avoid giving up 63% of your potential accumulations because of charges.

First fact: John Bogle, founder of Vanguard Group, the largest mutual fund firm, found that over 50 years of the normal 2% fees on your portfolio, you can actually end up with 63% less than you could have earned. It is simple math: your money earns 7% but the advisor, firm and trading/timing take 2%. Instead of $1.4 million at $250 a month you end up with only $670,000. The average managed-account equity investor earned just 3.79% a year over 30 years ended 2014. Inflation was 2.7%. The market benchmark returned 11.06%. We can invest in a fund that tracks the benchmark at the low cost of 0.04% and so earn 11% over time. We can eliminate any current or future taxes on the growth of our money as it compounds in a tax-advantaged retirement account. No advisor or computer system has proven to beat the market returns over time. Use facts to grow your account: https://www.amazon.com/Fact-based-Investing-first-million-hardest/dp/1977574270

Cut taxes? Most large corporations pay no taxes already—No firm pays 35%

Trump and GOP want to cut taxes for corporations but most don’t pay taxes now. Many store their cash overseas so they can’t be taxed. We can’t do that legally! We must pay tax on all worldwide income and most of us don’t have a legal team (deductible) to avoid taxes with legal gimmicks. For instance, some like Google use the Dutch Sandwich to save $3.6 Billion in taxes. Others use the Double Irish to use foreign tax laws we can’t.

Some receive our tax money as subsidies even though they are profitable: Nike, Royal Dutch Shell, Fiat Chrysler, Ford, GM, Intel, Alcoa, Boeing. 75% of disclosed subsidy dollars have gone to 965 big companies. We don’t know the total value of subsidies to all business but it is in the $ billions. Corporations have the money to make jobs ALREADY we make jobs by consumers having money. GOP targets our deductions: we end up paying more taxes (10% rate raised to 12%) instead of corporations paying their fair share. GOP says they are NOT increasing our tax rates even though they are by changing the income brackets. The net effect is we will pay more. Business keeps its subsidies and loopholes and keeps 2.5 Trillion overseas. They send jobs overseas not make jobs here! GOP just pushed the deficit to 20 Trillion and tax cut for rich will cost 1.5 Trillion more!

And GOP wants to give them more: https://www.amazon.com/Most-U-S-Corporations-Pay-Taxes/dp/1514274116

Building assets not income

Trump’s tax overhaul is about shifting more of the tax burden to us. Big corporate subsidies will not be cut. Special interest will keep their loopholes. The wealthy are never going to cut their benefits from the IRS code. After all, their Congressmen put the code there for a reason: cut their own taxes. Duh. Are they really going to cut off their noses to help us? Their basic rule: Avoid taxes on taxable INCOME. They build ASSETS not income. Assets are not taxable until sold. Individual income is taxed. Usually we have no choice from W-2. We are not able to hide it overseas like Google, Apple and Facebook. Most large corps have $ Trillions sitting in offshore accounts so their revenue can’t be taxed. What can we do? To beat Wall Street, we must avoid the middle people.

Win in an unfair market: https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

VA chief not helping Vets with 10 day vacation paid by US

How would you like taxpayers to pay for your vacation to Europe? Vets still have to wait to get appointments for service but not the VA head. Shulkin got his vacation date as requested. We paid for the flights for Shulkin and his wife, Merle Bari, and provided a per-diem reimbursement for their meals and other expenses, VA said Friday. They wouldn’t say why Bari qualified for the reimbursements and taxpayer-funded airfare, other than to say she was traveling on “approved invitational orders” and had “temporary duty” travel expenses. We have to wait a year to get ONE vacation day.

Avoid paying for their FREE vacation: https://www.amazon.com/Tax-Shelter-Americans/dp/1500426520

What is your strategy for retirement withdrawals?

Your situation is unique so there are no rules about when and how much to withdrawal from your retirement accounts. First, determine where all the income may be coming from—old pensions, rollover IRAs, regular IRAs, Roth IRAs, savings, work, brokerage accounts. Second, get your SS benefit estimate at https://www.ssa.gov/retire/estimator.html. You need to plan whether taking your benefits at age 62 or 66 or 70 makes sense for you and your spouse. Visit your local office to decide the complexity. Third, plan for the IRS requirement to take your RMD at age 70.5. Use IRS worksheet to figure your ‘required’ amount: https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf. Basically, all your ‘deferred’ tax accounts are totaled and divided by your life expectancy. Each year, your trustee will calculate this amount. You must withdraw the RMD of all accounts or move all your money to one trustee so you have one number. Your plan can tell you how much to take each year to avoid IRS penalties. Consider taxes too. Where will you invest?

Will you have enough? https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Does a low-cost annuity help you? https://www.amazon.com/Annuity-Decision-Tree-questions-answers/dp/1546454497

GOP cut health plan for 9 million poor children to spite Dems

Congress just allowed the Children’s Health Insurance Program, which provided low-cost health insurance to 9 million children, to expire. GOP would not bring renewal to vote so CHIP screening and immunizations will stop. Sick children will make others sick. CHIP was instrumental in lowering the percentage of children who were uninsured from nearly 14% to 4.5% in 2015. Amid unsuccessful efforts to repeal and replace the Affordable Care Act, the Republican-led Congress allowed the CHIP deadline to pass without action.

Trump and GOP must have a ‘win’ for the rich no matter what the cost!

GOP Rep claims health—life—is privilege for the few not a right as in “life, liberty, etc”

Best rides for the thrifty consumer

IF you need your vehicle to take you from here to there over and over again, you must use the CR report on the top 10. These are the most popular buys in America and most are made in America too. Ford provides the best and only pick up. Good design has made the difference between these 10 and those at the bottom of the reliability list at JD Power.

The discounts go with safety: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Medicare for All

GOP thinks health is a privilege for those who can afford it. Some attack Medicare since the tax we pay for it does not cover the whole cost. Some believe the individual must carry the cost otherwise people would not take care of themselves. Some consider that the government should not be responsible for individual health care because that is not its job. Others feel that the government is incompetent to run health care, like Amtrak—it is always in the red. However, when you consider that our taxes don’t cover all the weapons we make for war, that argument seems trivial. Our health care system has shown that individuals are responsible for their own health except when they can’t pay due to illness, unemployment, and other reasons out of their control. Medicare has been run to the delight of most seniors who use it. Medical special interest groups have kept Congress from fixing the cost overrun problem. We give more taxes for weapons than the generals can use and no Congress person is willing to fix the cost overruns. No one says we can’t afford to run up more debt for weapons. “I won’t let people die in the streets.” He will!

GOP doesn’t worry about the deficit except when it is used to pay for citizens’ needs.

Let’s get on with a solution that covers taxes and costs since we all need health.

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TrumpWorld

I could shoot someone on 5^th avenue and not lose voters’

GOP religion whipped up to sell TV show and Trump brand; and get elected

Trump is still just a mafia contractor from Queens—Dad taught him to be The Don.

Trump cancelled health care policy for brother’s family after they fought dad’s will

The Don thanks his wife after introduction with a handshake like she’s a guy?

Smoking gun: “Our boy can become president of the USA and we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get all of Putins team to buy in on this.” Manafort tells Russian mob he will keep them informed about “our boy.”

Trump’s group places mob ties above country; it’s about money POWER not US service.

Mob doesn’t call the FBI when Jr doing an illegal deal with fellow mobsters. Receiving stuff from ‘foreign power’ during campaign is illegal—even for idiots.

Jr meeting with Russian mob ties to tax refund fraud scheme.

Putin has full access to our 2018 elections since Trump doesn’t help states upgrade now.

Trump finally tells 21 states Putin tried/did hack their 2016 elections—10 months delay.

Russian agent admits to propaganda war on US. We were duped by pro-Trump agents.

Trump legal defense paid for by Russia wealthy tied to Putin

‘Ministry of Truth’ 1984 novel: Government propaganda is ‘truth’

Puerto Rico just ‘busted America’s budget’, ‘only 17 people died.’ No $ -- paper towels.

Puerto Rico debt ‘wiped out’; Budget chief: wealthy bond holders get “no bail out”

Trump’s “middle-class miracle”; Rich bonus, some middle taxed, 2.4 T loan from China.

I have never considered leaving Sec State; Trump is a “f------ moron”

My Theory:

Trump got Russian help/funding for business from business/mob ties to Putin.

No one expected him to win so no harm getting Putin help. Don owes Vlad’s mob money so they sent mob gofer Manafort to run the campaign. ‘Colluding’ Putin style.

TrumpWorld – using presidency to make money the old fashioned way: theft

Change tax law to benefit yourself and say it is for middle class: Liars all!

Bribe the D.A. to drop the suit—fraud by Ivanka, Jr selling Trump Soho Cheats all!

Dictator talk time:

“When the president does it, that means it is not illegal,” Richard Nixon

Kushner used email after NSA warning; no disclosures on assets, USSR contacts.

The Don is moving us to a dictatorship where the only people who go to jail are his enemies and non whites he does not like. Racists and nationalists get pardons. If Flynn and Manafort get indicted by Mueller, The Don will just give them a “get out of jail free” card so they don’t rat him out.

Dictators use “back to law and order” to limit rights, fill jails, fund army, follow enemies.

Hitler’s generals thought he was a ‘Depp’ ‘moron’ ‘idiot’ too.

“The president can’t have a conflict of interest.” The Don is above the law?

Quid pro quo: "something for something."

The Don lost money on Puerto Rico club; now payback time?

2017: Thousands died so a few wealthy rich can kill defenseless animals. Insanity?

Koch $ millions to target Dems in tax bill fight: Billionaires decide issues, not ‘reps’

Lincoln solution to TrumpWorld: http://www.latimes.com/opinion/op-ed/la-oe-blumenthal-lincoln-trump-20170713-story.html

Most Americans want Obama back now. He did things we needed done.

Regulation is necessary: We need protection. Saves $12 billion of our money!

Fiat recalls 700,000 Jeeps Dodge SUV for bad brakes from water damage

Brian Murphy caught stealing $890,000 property and failure to pay income taxes