Your Unbiased Advisor: Trump terrorist

Showing posts with label Trump terrorist. Show all posts

Friday, July 30, 2021

Save $1,000 a year on life insurance alone

Our retirement system is broken: fix yours now

Your employer has stopped helping you reach your retirement goals. Your alternatives are limited by your employer’s choice of investment options. Many have stopped matching your contributions to their 401k or 403b. Many use very expensive mutual fund plans. Paying 2% in investment, plan and services fees “will erode 63 percent of what you would have had.” Even worse, if you are using a variable annuity, you may be charged 7%. Small employers often use variable annuities from an insurance agent since this costs your boss nothing: very costly. ALTERNATIVE: use the new retirement plan that offers a complete set of mutual funds and stocks at low cost. The new plan allows you to accumulate more at almost no cost. And when you retire you will pay no state and federal income taxes on the full amount. For instance, if you invest $250 a month you could have $1 million to spend as you wish with no taxes. You can also take a loan at any time without the 10% penalty and income tax usually charged for 401k plans.

Double your nest egg: https://www.amazon.com/New-American-Retirement-System-Wealth-Reserve/dp/1461030072

Another way the wealthy pay NO taxes

“Asset-backed loans are one of the principal tools that the ultra-wealthy are using to game their tax obligations down to zero,” one analyst said. With low interest loans available, the rich pledge their stock, pictures or land for a line of credit. They can use the loan to buy that new mansion, boat or business without paying tax if they had sold their stock, pictures, or land for the purchase: neat. Further, locking in a long-term low-interest loan on an appreciating property assures the rich will not be hurt by future inflation. Paying off a 1% loan with an asset that grows at 8% is perfect for the future rise in prices. Another tax loophole (1035 exchange) allows a wealthy investor to exchange (SELL) their old property for a new one (BUY) without any capital gains. 1031 exchanges allow the wealthy to indefinitely defer capital gains taxes on investment properties. Two main types of taxes can be due upon the sale of an investment property: capital gains tax and depreciation recapture. Thus, a family legacy can be perpetuated for generations without ever paying their fair share of taxes. Our ‘collective’ debt is now 28 Trillion.

Stop paying their taxes: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

Save $1,000 a year on life insurance alone

A recent survey of the cost of life insurance shows that shopping around really pays off. The survey showed that the cost of a 20 year term policy paying $500,000 to your family ranged from $1,896 at Allstate to $709 at unknown insurer sold by LifeQuotes. A real life 40 year old male in excellent health got the quote. Why the big difference? Allstate is not competitive in life because auto insurance is their game. Their mutual funds are also not competitive. Like Allstate, many companies sell these expensive products to “loyalty” customers since they know their niche does not shop around. The Allstate buyer spends $37,920 for the same $500,000 check as the other insurer pays in return for $14,180. The difference, $23,740 is pure profit for Allstate. The unknown insurer at $709 is still making money because this survey did not include not-for-profit insurers who charge $230 or $4,600 total. The difference $33,320 or $1,666 a year, if invested in a stock mutual fund during that 20 years could provide an extra $136,166 in retirement. The benefit $500,000 to your family is the same but the cost difference $1,666 pays off home.

Insurance discounts: https://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

Are you spending enough in retirement?

Savers have a hard time spending their nest egg when they retire. Most savers don’t realize how far we have come in the last 10 years. The market index has climbed 15.6% a year since 2009. Your $100,000 grew to $537,000. You could get your grandchildren started in their future $1 million fund or fund a college 529 account. Each of you is allowed to give each person up to $15 grand without tax. Every retiree wishes their parents had started their savings early. That may be your legacy to your family each year instead of waiting until you die. Plus, using a low-cost index in a tax-advantaged account they could reach their life goals and never pay taxes on the gains of the account. It’s a gift that keeps on giving.

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

Where to invest for the next ten years

The fastest growing age group is the over 65 year olds. What do ‘grays’ need? We need health care at home, low-cost advocates, drugs, medical interventions, hospital services, vacations, public transportation, Social Security guarantees, security, and shared living spaces. Which firms will be able to meet these needs? Many companies that provide these services and products are represented by the largest 500 US corporations. How can we invest in all of them since we don’t know which will excel? We can follow Warren Buffett’s advice and own a little of each one of them. He recommends the low-cost index of all these firms for retirement funding. They provide both growth and income at a reasonable cost. They provide broad market exposure. In fact, Mr Buffett thinks we don’t need a broker to provide what we need in retirement. All we need is patience and common sense smarts.

Pay less, earn more: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

How to maintain patience in a volatile market

Every investor stays calm as the market produces 15, 18 even 40% returns over time. But what happens “when the tide goes out and you discover who’s been swimming naked.” as Buffett says. How do we learn that the “market is a device for transferring money from the impatient to the patient”. He explained why we should NOT follow the advice of Wall Street. He has told us how to be successful investors. We need a plan with long-term goals. We need to keep them on our fridge so we see them everyday. Volatile times are normal: that is when the wise buy stocks. Remember, time is on our side. Be aware of the history of the market—up 32%; down 37%; up 11.06 over time. Proof: IRAs with big bucks have tripled over the last 10 years.

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

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

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

Our Jan 6 ‘Truth and Reconciliation Commission’

‘Hang Mike Pence!’: “home-grown fascism”

Who rallied the terrorists to attack Congress?

GOP as terrorist enablers

How Govt wastes our money:

Congress’s tax loophole helps bitcoin holders avoid taxes: we subsidize the rich

Some states have stopped counting Covid cases: we are moving into the Middle Ages

TX will punish any business that requires masks for protection of customers

You can’t claim your $100 now if you were vaccinated last year

25% new LA cases from vaxx people: Delta is far more infectious: Vaxxed get colds.

$3 billion U.S. aid program to help Mexico security failed to reduce bloodshed.

SCAMS/SPINS:

BEWARE: Get on the floor quickly if you are older: no senior pass from cops: shoot first

Facebook wants people to be able to connect with God: Mark’s great money-maker idea!

Vatican trial for theft $10 million in donations but just one for sex abuse hundreds kids

US funded Pakistan allows women to be beheaded for speaking out: religion or family?

Judge gives FL go ahead with Covid infections on cruises: FL needs revenue!

Conservatives get Covid illness then change to pro-vaxer: ideology or science?

Stephen Harmon, megachurch, vocal opponent of vaccines, dies: he add to 613,000 dead?

Covid vax NOT “personal decision”: you can infect and kill others like drunk driver kills’

“Don’t let anybody know that I got this vaccine.” MO anti-vaxxers

Another Bolt up in flames: GM recalls 69,000 EV for ineffective repair

Senior discounts: tricky rules may put you off but 15-20% off can save big

George Heckler SC caught hedge fund debacle stole $19.3 million: 5 years prison

Investors leave Robin and the merry men in the woods

Supremes insist renters eviction stands: Eviction ban ends tomorrow 7/31.

Architect of Surfside condo previously suspended after other buildings had serious faults

Jobs

Earn $200 by streaming a NYC murder, fire or accident: use phone for Citizen watch

Intel says it will make chips we lack for cars, appliances, etc: I must wait 18 mo fridge?

President’s job description does NOT include inciting insurrection: Feds not immune

Who owns your account now?

Eviction coming for millions: rental assistance funds by state, city, county

Protect your tax return: use a IP PIN to submit your tax return: PIN issued after check

Expiration? We are sitting on $15 billion in unused gift cards and credits

Car insurance rates: are you paying more than average? Time to shop and save

Miracles:

Cockatoos breaking into trash bins across Sydney: learned how from other birds

Snow leopard at San Diego zoo catches coronavirus: no vaccine mandate for the staff

New breast cancer drug destroys deadliest tumors — even after they spread

Police & bystanders save baby by lifting car after drunk hits baby & mom

3 more states will require employers to offer IRAs if they don’t offer pension plans.

Oldest animal fossil: sponge 890 million years old today: Happy Birthday!

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/

Friday, April 30, 2021

Do you really need an advisor?

In the 12 months through Friday, the S&P 500 stock market index returned more than 50%, including dividends. From the market’s low point in March 2020 through Friday, it returned more than 80%. Between March 18, 2020, and April 12, 2021, the collective wealth of American billionaires increased from $2.95 trillion to $4.56 trillion, a 55% leap. This increase was NOT from savvy trading by financial advisors. Warren Buffett, one of the most successful investors, gives credit to compounding: “My wealth has come from a combination of living in America, some lucky genes, and compound interest.” Compounding is money earning money on its earnings over time. We can reach $1,000,000 by investing our money in businesses sharing profits with us over time. A special IRS account, available to most working Americans, makes our money tax-FREE. Tax-FREE is like a $300,000 bonus—We avoid paying taxes— federal and state income taxes on our earnings when we take them. Buffett shows us how to invest fee-FREE too. Set up your tax- and fee-FREE accounts in 1 hour. He recommends holding a low-cost S&P stock fund: 9% a year 1971-2020 and 12.36% per year if you compound reinvested dividends.

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

Estimate how much income you will have in the future

Many of us start to worry about having enough income in retirement to see us through the final 30-40 years. A financial planner can run an analysis for a one-time fee so you have a better idea of your income and expenses once you hit pre-retirement years. In the analysis, an advisor uses software that takes into account how much you will earn on your money and how much inflation will reduce your buying power. You can do this analysis yourself with an online calculator called Monte Carlo simulation. So for instance, Vanguard’s Nest Egg Calc can let you adjust income, expenses and portfolio to target: https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/ RetirementNestEggCalc.jsf. By playing with the level of stocks, bonds, and cash you can optimize your chances of having enough money for 30 to 50 years of income. Thus we found that over 65% stocks provided us with 91% probability of having enough income for 30 years. Usually, advisors tell us to sell stocks and buy bonds in retirement. When you do this in 100,000 simulations, you only have 58% chance of having enough for 30 years. That is because over time, bonds lose to inflation and we are living longer.

Plan to have enough: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

Can Biden’s capital gains tax increase hurt you?

Biden wants to actually pay for his spending for infrastructure needs, something republicans did not do for their 2017-18 tax breaks for the wealthy: “Tax reform that rewards work and not wealth.” He would raise the corporate tax rate from 21 percent to 28 percent, implement a minimum corporate tax, nearly double taxes on investment gains for the wealthiest and tweak inheritance laws. Most corporations pay no taxes now. Many receive our taxes as refunds. When the wealthy sell their investment gains, they pay a rate HALF the rate we pay on our wages. Trump’s inheritance tax rate allows families to create tax-FREE family dynasties of $23 millions. Biden’s tax increases are targeted at the top 0.3 percent of taxpayers. Those folks have increased their wealth by 55% during the pandemic when many lost their jobs. When the wealthy sell their assets, they pay only 20% tax while we pay 33% total tax on wages. Thus billionaires like Warren Buffett pay only 17% of their income versus 33% for his staff. Many billionaires agree this is not a fair system. Since the wealthy and corporations have more than enough capital to increase production, Biden’s tax increases will not hurt our economy. The increases will fix our failing bridges and roads; thus allowing business to expand in the future. Is it not better for those who can afford it to pay for improvements than those who need the jobs from the structural improvements? His plan may actually help us pay our tax bills.

Tax shelter for workers: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Now that I can trade at little cost; should I?

Wall Street has always been the lure of quick get rich strategies. But do they work? Insiders are usually the most successful at fast trades since they have information we don’t have. The most famous are Congress people who do it legally and Martha Stewart who got caught and went to jail. Congress people use info from secret meetings to get away with insider trading legally. Most amateurs who trade lose money. Despite free trades, most will still lose money since they must be right twice—buying and selling on time. To be successful, you must know enough about the stocks you buy that your purchase can still overcome the hurdle of random price movements. Recently, Gamestop price rose quickly because bloggers promoted it to offset large investors who bet on its decline. So unless you have access to secret insider information, fast trading is a myth. Warren Buffett, one of the most successful company analysts, advises the opposite: "Our Favorite Holding Period Is Forever." Trading stocks may kill the powerful effect of compounding. He recommends holding a low-cost S&P stock fund: 9% a year 1971-2020 and 12.36% per year if you compound dividends by reinvesting them. Check the years you have invested: http://www.moneychimp.com/features/market_cagr.htm.

Listen to Buffett not your advisor: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Is it time to fear the effects of inflation?

Advisors are trying to look smart about inflation. Sure gas prices have risen but we are not commuting as much. Sure some food/staples prices have risen. However, just because the gov is printing more money to keep people alive who still have no work, that is no reason to panic. Besides, advisors don’t have the answer. Alternative investment vehicles have their downsides. Bonds are not a good choice at this time. Gambling on cyber that have no fundamental value is OK for the wealthy but we can’t buy groceries or pay the rent/mortgage. Inflation is often a valid risk when everyone has extra money and is chasing fewer goods. Most working people don’t have extra cash to pay for stuff they don’t need. Keep an eye on mortgage rates to learn when inflation becomes a worry. Most investors maintain a broad comprehensive portfolio since no one knows what will happen in the future. It is hard to prepare if you don’t know what to prepare for.

Use wise advisors: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045/

Make your retirement income tax-FREE

Working people can save and invest in an IRS-approved Tax Haven. Deposit up to $7,000 per year in your choice of investment options so that when you retire or need emergency funds, you pay no state or federal income tax. Almost all financial firms offer this account so you have your choice of the fee structure and type of securities. Compare the Best firm choice for your tax-FREE Roth IRA. If your employer does not offer a Roth 401k, you can set up automatic contributions from your account. Since you pay no tax on this income, you may reduce your income tax from other retirement income sources like Social Security. SS benefits can be taxed up to 85% when you begin taking withdrawals.

Tax-FREE income: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Where is that refund?

The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App.

Where is the stimulus 1 or 2? If you did not receive stimulus 1 or 2, start filing here: https://www.irs.gov/newsroom/recovery-rebate-credit.

Stimulus 3? https://www.irs.gov/coronavirus/third-economic-impact-payment

Estimated tax payments are still due April 15. If you are self-employed or do not have enough withheld from a paycheck, pension or Social Security, you may have to send quarterly payments to the IRS. Tax returns for 2020 are due May 17 not April 15 but the estimated tax payments are still required on schedule.

IRS will redo your taxes and send refund if you paid tax on Unemployment 2020 or you paid ObamaCare’s excess advance premium tax credit repayment.

Have tax forms; will file … for FREE but WAIT . . .

If you have unemployment income, ObamaCare coverage you should wait to file since the IRS has not yet implemented tax-FREE provisions of the new Covid law. If you already filed and paid tax on your unemployment income, IRS says it will send you a refund of the tax automatically. DO NOT FILE an amended return to obtain a refund on this tax. Taxes due MAY 17 not April 15. Input the W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. forms you have. You can file for FREE online. If you didn’t receive a correct form, file a Form 4852. Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits.

Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. You can deduct as medical expense all Covid prevention supplies. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

What to do if you can’t pay by May 17?

Avoid the penalty for not paying estimated tax. Ask for an automatic extension to file till October. If that does not work for you, you can apply for a payment plan. An individual can setup an IRS installment plan if you owe $50,000 or less and can pay back the amount owed in 3 years. If you are a business owner, you can setup an installment plan if you owe $25,000 or less. The IRS will charge a one-time fee of $105.

If you own less than $25,000 and can pay the amount owed within six years, ask the IRS for a streamlined payment agreement. The IRS will charge a one-time fee of $102.

Request an Offer in Compromise if you cannot pay the total amount owed. This allows you to settle your tax debt for less than the total amount owed if you will be unable to pay back the total amount owed within 10 years. The IRS will charge a one-time fee of $150. Given the pandemic economic hardship, apply for the extension to file now: https://www.irs.gov/pub/irs-pdf/f4868.pdf

Special circumstances help: call the IRS Taxpayer Advocate Service 1-877-777-4778 for free assistance.

More ways: https://www.irs.gov/newsroom/heres-how-people-can-pay-their-federal-taxes

IRS has $1.3 billion refunds for 2017 tax returns

Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 return, according to the IRS. “Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on May 17.” If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury. Filing instructions are available on the IRS.gov Forms and Publications page or 800-829-3676.

You have 17 days to collect your cash!

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

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

First Trump terrorist found guilty

Where ‘Truth and Reconciliation Commission’?

How Govt wastes our money:

Dick Cheney insisted 20 years ago, “Ronald Reagan proved deficits don’t matter.”

GOP concerned about spending on working people: Trump tax breaks were no sweat

GOP still trying to lock people they don’t like out of voting opportunities

GOP still suing to overturn election in AZ: voter audit firm unknown Ninjas

$5 billion two new Air Force One jetliners: bigger fridge costs extra?

SCAMS/SPINS: