Best way to invest for retirement income

 

Best way to invest for retirement income

If you are like I was at my first day on the job for an employer, I had no clue about the company retirement plan. Yes, they gave me the papers but they were not in English—legal for lawyers. I could not decide which investment option to pick. I took the suggestion of the HR person and had them take 6% of my pay into a very conservative fund called a “stable value fund.” This was not a good choice at my age. However, they matched my tax-deferred contribution so I appreciated what I had. Investing at the same amount on a set schedule (payday) was good since I learned later that “dollar-cost averaging” is the best way to invest for the long term unless you have insider info like our representatives. Since no one knows whether the market will be up or down on any given date, it is best to invest on the same day every month. However, I did not learn until later that I should have chosen to invest in a low-cost stock market index fund instead of “stable value.” Stable value funds are for when you are IN retirement not when you have 35-40 to invest! After studying the most successful investors and fund managers, I learned that the best way to invest for retirement is to buy the shares of a cheap stock market index on a monthly basis for the same amount. “Almost no one who is operating honestly can maintain a persistent information edge over the millions of other smart investors who comprise the market.” As Warren Buffett says: "A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money."  Fidelity study of millionaire retirees confirms his advice.

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

 

Is real estate a good investment?

Recently, the investment industry has become active in purchasing homes for investment. So does this mean that real estate is a good investment for the most working people? Most folks who own their own home have seen the value of their home increase for a number of reasons. For many new working people, there are fewer homes that are affordable. And for many older working people, where would they go to live in order to cash in on the higher home values? In the East, many older homes have increased in value: Average home cost $250,000 in 1991. By 2020, it was worth about $800,000. As an investment, a single family earns about 4.5% per year; not counting the huge property taxes here. Not a great deal long term for properties in the metro areas. However, a low-cost mutual fund of real estate provides over 10% per year. A real estate fund includes all types of properties and is comparable to the stock market index which provides over 11%. Therefore, a low-cost balanced portfolio has helped many investors earn over 11% a year for a long time. Low-cost investing beats high-cost advisor investing.

Use low-cost funds: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X/

 

Buffett’s secrets to NOT losing investments

Leverage—borrowing money to invest—creates a double gamble. Buffett: “If you’re smart, you’re going to make a lot of money without borrowing.” All debt does is increase your risk. So we don't buy most Closed-End Funds (i.e., CEFs). We don’t use our broker’s money. Margin debt can rattle your mind. “And an unsettled mind will not make good decisions.” You not only lose any gains, you may lose your equity. Better to concentrate on finding value and using the magic of compounding.

https://www.amazon.com/Warren-Buffett-Millionaire-money-snoring/dp/1508887381

 

 

 

Will Social Security benefits be there when you need them?

Congress does not like to spend money for the important things. They like to give defense contractors, oil, gas and coal companies subsidies because that pays their election bills. They like to create tax loopholes so they and their friends do very well. They use insider information that is illegal for us to use. Since the Supremes 2010 decision to treat $ billion companies the same as you and I in terms of election gifts, Congress must do what these companies want. Because there are more old people and fewer working people, SS benefits will be reduced to 78% of normal benefits by 2034 according to SS trustees. Since Congress is unlikely to deal with this collapse of the single most important support for seniors before it is too late, older Americans will be faced with the poverty that existed before SS was created in 1935. Bread lines were daily work for many depression-era out-of-work workers. The wealthy could live overseas untouched and untaxed just like today.

Prepare now: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

New car insurance data may help you save

More accurate tools allow insurers to offer the safest drivers the opportunity to secure a better premium directly. With 45% of drivers willing to switch insurance providers for savings and 69% willing to share data for discounts, drivers can leverage an insurer’s lower cost of signing new customers. Usage-based insurance (UBI) means you can save if you drive fewer miles than the average driver. Your smartphone and other devices may save you even more because sensors can provide accurate risk-assessment. Better drivers mean lower costs for drivers and insurers. Your agent will not call you to cut the premiums and their commissions.

You must shop to save: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Have you taught your child how to make tax-FREE money?

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to buy low-cost insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a month in retirement supplement. Now your child can build an account that provides tax-FREE retirement income too.

Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Jan 6 2021 Direct assault failed: guns & bombs

 

Nov 8 2022 “Legal revolution”

 

 

Mo Brooks exposes dictator plot

 

GOP’s activist court

 

More coup conspirators ignore subpoenas

 

How Govt wastes our money:

Biden: wealthy to pay less tax than middle class instead of collecting what they owe

Trump Guilty of 'Numerous Felonies': lying about assets, tax evasion: 2024 dictatorship

Trump guilty: illegally obstruct Congress: his lieutenants ignore subpoenas: never jail

Will Trump and Jan 6 coup-attempt receive punishment: white-collar crime-free legacy

 

Ex-Im bank reauthorized 17 times: evidence that it is unnecessary: we subsidize Boeing

Russian sanctions not working: Oligarchs moving their assets to Turkey: US can’t grab

 

SCAMS/SPINS:

Biden wealth tax 20%; Average worker 32.9%: Buffett pays 17.7%; Richer pay 8.2% or $0

Wealthy have NO taxable income: Most wealthy use intricate legal/foreign centers for job/assets.

Hundreds of tax accountants ready to negate Biden new taxes: ‘double Irish’: audits down 72%

Rick Scott wants all to pay tax: start with big avoiders like Rick, Trump, his friends and others

 

FTC sues TurboTax to stop ‘misleading’ ads for free tax prep software: IRS free file

SEC asks advisors: act as fiduciary if taking hidden 12b-1 ‘wrap’ fees, wrong class fees

 

Apple & Facebook gave up our data to hackers pretending to be law officials: no warrant

 

Alpine Securities caught misusing customers funds, excess fees, no notice: defrocked

Naseem Mohammed Salamah caught stealing $968,000 promised diversify; ignored stmts

Edfinancial Services caught deceptive & misrepresenting forgiveness options to students

Michael Pellegrino Goldstone Financial sold notes from 1 Global Capital, a fraud 

 

Hunter Biden $1 million deal China Energy: leveraging Dad’s history: bribery? Payoffs?

One dictator asks other for help in winning election again: What Putin gets from Trump

Prince Jared gave Jan 6 lawyers a piece of his royal mind: “truth and nothing but”

 

982,000 dead: 61% of unvaxxed are Republican: GOP trimming voters for 2024

‘No’ to anti-lynching bill: Andrew Clyde (Ga.), Thomas Massie (Ky.), Chip Roy (Tex.)!

Price controls for drugs: do you have to be rich to be able to afford lifesaving drugs?

 

Biden gets to the root of our problems, finally: “Putin is butcher” Russia complains.

Putin “smash and grab” Swiss watches in retaliation for taking his ‘secret’ bank accounts.

Putin to take East Ukraine: split East & West like Korea N&S: Putin killed 2014 plane

 

Fake protection against nuclear war: temporarily protect potassium iodide price double

Fake “Top Doctor” Awards had chosen journalist: friends nominate anyone:  Just $289.

Recall Skippy with steel fragments for your “daily iron requirement”

Ikea will pay you to get its old furniture back: some restrictions apply!

 

Jobs

600,000 cyber security jobs that remain unfilled: Cyberseek

Companies making remote work long-term for now: saves gas

Corporate profits rose 25% in 2021 yet 1/3 of workers make $15 hour: $2,400 mo. gross

 

 

Who owns your account now?

Abortion bans by state map: where can someone in need get help

I know, people, not guns kill but counties with highest gun deaths lack any controls

FL teachers become morals police for state gov: teachers become behavior monitors.

 

RIA Eaton Vance WaterOak Advisors to CI Financial Canada

Navy announced it will christen a future ship the USNS Ruth Bader Ginsburg 

Constellation Insurance to Ohio National Mutual

 

Miracles:

Antarctica ice shelf size of NYC melts into Atlantic: a first in history: move inland!

Vampire bats are the only mammals that can survive on a diet of just blood.

Alliance for Public Health shows American assistance reaching patients in Ukraine war 

 

Covid supplies and tests via website search engine: https://www.covid.gov/

 

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Reader’s choice investment for 2021

 

Do you feel you should be doing something with your investments now?

All the things I hear and read say our economy is bursting out of a depression from millions of folks being out of work and out of money. The Fed controls the money supply and they don't see inflation. It is still supporting business by buying their bonds--giving them money to survive and expand. When you begin flying again, so will everyone else. The hospitality biz will explode with all that pent up demand from lockdowns. Authors are selling books on the fear of a bubble. No one knows the future. Readers expect the market will go down and up in the next few years, but unless you plan on taking out all your money now so you can go live on an island in the Pacific, what do you care? Let's say it goes down by 10% for a couple of years. You will need your money for another 20 years. So it will grow back and give you even more for the 10 years hence. Don't worry about the market. Look at the big picture: click 'max'

https://www.google.com/search?q=vanguard+500+index+fund+graph&rlz=1C1CHBF_enUS899US899&oq=vanguard+500+in&aqs=chrome.8.0j69i57j0l8.23884j0j15&sourceid=chrome&ie=UTF-8 If you are age 65-85 I would suggest you still keep 50% in stocks because you don't know how long you will live and still need more money. IF inflation was 7%+, then you might be better off in CDs paying 8% but that won't happen anytime soon. When you start to worry about a market ‘bubble’, go back to the chart above and think what you would do if you sold at the bottom of the 'V' of Mar-Apr last year. By Sept you are back on track. If you had sold then, you would have kicked yourself from missing a jump of 50%--212 to 320 by Sept. 

Ignore the fortune tellers: https://www.amazon.com/Money-Ball-Investing-Winning-unfair-market/dp/1548831409

 

How much do you have to save/invest for solid retirement income?

Myth: you only need to save “10 times your income” to retire. This is a true and a false statement. When you start investing, type of investments and how long you let your money grow are the important factors. Readers have started investing with $250 a month by age 25 ($99,000 total) and end up with $ millions in retirement. It is possible to invest only 10 times your income but that assumes you invest in stocks early in life. Saving for retirement with bank CDs will cost you a lot more than 10 times income. Folks who start at age 55 will need to invest much more than 10 times income. Use this calculator to see how much you will accumulate in 20 or 30 years at 2% from CDs vs 10% from stocks: http://www.moneychimp.com/calculator/compound_interest_calculator.htm. $99,000 grows to $600,000. It is compound interest that makes you rich. And don’t forget taxes. Saving in your employer plan is tax-deferred not tax-FREE so you may pay 12% or 22% on your money along with up to 85% of your SS benefits.

Invest tax-FREE: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490/

 

Reader’s choice investment for 2021

As we climb out of this economic and social malaise, our readers are eager to get on with their money goals. Managing money goals has been difficult. Some have had to take money out of their savings to live on. Some have had to stop saving entirely—there was no money left after expenses. Some employers stopped matching savings or paying a bonus that went to savings. Now readers are more cautious and need to make sure that their saving/investing Dollar will be effective. It is time to go back to basics: a broad mutual fund with both stocks and bonds provides growth and protection from market correction. And because taxes are likely to go up, a low-cost tax FREE account provides another layer of protection. An employer Roth 401k or personal Roth IRA with a low-cost “balanced” fund fills the need. Your best deal may be the Vanguard Roth IRA with Target Date 2055 fund. With 0.15% expenses and $1,000 minimum, you keep more of your earnings than if you paid someone 1-2% each year. You would earn over 11% over time instead of 9% from an advisor. You don’t need a money manager to rebalance your portfolio from stocks to bonds for retirement income. Start income anytime.

It is automatic… and tax FREE: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Is living on your investment income right for you?

What happens when you retire early and live on your investment income? You can spend much of it extravagantly or try to beat the market with one “future” Apple or Amazon super stock purchase. But like most lottery winners, you might lose most of your retirement nest egg in a few years. Inexperience with money makes people think they are invincible. Readers who grew their $1 million retirement fund by investing systematically every paycheck look at money differently. They appreciate the freedom it gives them to live on their interest and dividend without worrying about tomorrow. This is what many do: most years their low-cost diversified stock and bond portfolio (balanced funds) produces over 10%. They pay all their expenses from the SS benefits and pensions they receive. That 10% or $100,000 income supplements other activities like travel, gifting, business, family. A well diversified portfolio of funds has provided many readers with over 11% per year. Readers use the annual earnings over $100,000 (11-31%) to build a Wealth Reserve. Any year they earn under $100,000, they cut spending or they sell a few securities. They use their Wealth Reserve to buy cars, vacations, whatever they want.

Build a Wealth Reserve: https://www.amazon.com/Your-Wealth-Reserve-Save-year/dp/107028288X

 

Is a non-traded REIT (real estate investment trust) right for you? 

This security is useful to folks who want to diversity their holdings into real estate over the long haul but it is not guaranteed. It comes in 2 flavors—private and public. Public shares of these securities are sold by a manager for a fee. Their value and dividend yield doesn't fluctuate daily with the stock market. Non-traded REITs typically have long holding periods. So it's much harder to cash in these non-traded ones than the traded version. The fees can add up too. Non-traded REITs have historically charged investors an upfront fee of as much as 5% of their initial investment. It may take a long time to offset the original and annual fees to the manager who get paid from the revenue BEFORE you do. If the shares you buy own poorly-run or highly-mortgaged commercial buildings, you may earn less than a bank CD. You have no control over the manager’s asset choices. Managers often boast of returns higher than the stock market index so examine the period they chose in the offer. See returns since 2001.

Pick better diversity: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

 

 

How insurers calculate your auto premium

Insurance companies make money two ways: earnings from your premiums and NOT paying excessive claims. Wise investing means matching their liabilities to their assets. They know how much they will pay in claims each year and invest enough in short term instruments to match. They don’t lose money if they insure only good drivers. Good drivers don’t take risks: good credit scores usually match good neighborhoods and better jobs, males have more accidents especially if they are single and older folks have more to lose than the “invincible” young. If you enjoy speeding and driving to your favorite watering hole, you might have to pay more. Some insurers think they understand some drivers better than others so they lower their premiums: GEICO, AARP, AAA is anexample. You have to shop every 5 years to learn which insurer is best for you.

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

 

Avoid future taxes like the wealthy are doing now

Accountants and advisors to the rich are preparing their clients for a tax increase. We can avoid taxes too. Even though we don’t have the resources to go off shore, there are ways to save on future tax liabilities that don’t cost a fortune. The 2017 Tax Cuts and Jobs Act isn’t set to expire until 2026, but lawmakers may opt to hike taxes sooner. The current political climate is forcing high-net-worth folks to hedge against rising taxes—now. For high earners, the two most common strategies are investing in Roth 401(k)s and Roth conversions and investing in managed portfolios in health savings accounts (HSAs). The wealthy are also using ‘overfunded’ life insurance. In addition to providing tax-FREE growth, policies can be structured to offer policyholders the option to buy property, cars, and other large purchases from themselves while retaining unlimited access to policy principal. You can have the best of both worlds too.

Start now: https://www.amazon.com/Tax-Advantaged-Wealth-mutual-funds-Tax-FREE/dp/1481215906

 

Is your advisor “shrinking to grow”; dropping you?

Advisors are canceling accounts and that could mean you. The best advisors make more working with their most wealthy clients ONLY. If your advisor is leaving their big firm to start their own, they many not want you with them. Unless you have a lucrative pay package for your person, you may be left with the old firm or left out in the cold. Instead of paying another unknown asset manipulator, ask yourself what you really need. You may be better off using a low touch, low cost online Robo. In the last decade, Schwab and Fidelity have slimmed down because most people don’t need a full service provider. You may be better off at Vanguard, where you can get help whenever you ask for it for 1/4^th the cost. Some of my AARP tax aide clients have brand-name firm accounts that charge $ hundreds to provide nothing more than dividends and tax-advantaged mutual fund reports. Paying $200 for a broker to sell a few shares for a $20 gain is a waste of money. The client did not know why the sale took place but they had to pay tax on the transaction.

Low cost beats high cost every time: https://www.amazon.com/Lies-Financial-Advisors-Told-me-better-alternatives/dp/1478281545

 

 

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

 

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. 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. 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

 

 

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

 

 

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

 

Trumpists limit Black/Hispanic voting

 

Our ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

Trump avoids taxes by $21 million deduction on his NY ‘forest’: we pay 33% he pays 0

Biden’s tax planners must end deficit spending: Trumpists’ tax breaks dig deeper hole

Wealthy broke IRS audit code: rich underreport their income far beyond what is known 

 

Congress takes 2 weeks at taxpayers’ expense but they don’t ban guns of war on people

We buy more vaccine but 40% don’t want it: WHY: 550,000 dead already. Still Hoax?

State GOP building walls against American voters to assure Trumpists win 2022, 2024

 

SCAMS/SPINS:

The greatest enablers of these domestic terrorist enemies’ are within Congress

GOP allows our stimulus money to be taken by bill collectors: industry lobby pays them

AVOID TX:  FBI concern that radical ideologies are going mainstream in North Texas

 

QAnon now pushes alarming conspiracy myths targeting China and Jewish people

 

Mormon Church caught fraud: used donation to run businesses: tax exempt jeopardy

 

Ronald Stevenson Jason Wootten caught Ponzi in EquiAlt 100+ investors: class-action

UBS questioned by court: helping clients launder funds via numbered accounts/trusts?

Stein, Corey Agee caught tax fraud: over-valued land deducted as conserved; Trump tried

 

John Spiller Jakob Mears caught billion Robocalls sell fake health insurance: fine, no jail

DNA tests like palm-reading: you can read anything into what they find

TV antenna fakes caught promising cable channels: no free lunch

 

USC to pay $1.1 billion to former patients of campus gynecologist George Tyndall

Gwyneth Paltrow’s health remedies claims under attack: NOT inflammation treatments

UV Sanitizer USA NOT sanitizes and protection against the coronavirus in secords

 

Supplements do NOT “the best treatment for depression, anxiety and stress”

Covid mutants may keep us in masks for years: new normal?

Good News: 70 percent of adults age 65 or older have received at least one dose

 

CA bans misleading adverts that divert us from content to sale w/o explanation

Video fakes change our perceptions: Biden not pretending to be president

CO shooter used an Automatic Rifle: kills 10 in secords: gun totters can’t draw faster

 

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

IRS tips to avoid scams: https://www.irs.gov/newsroom/tax-scams-consumer-alerts

 

Is it a scam?  Check AARP scamline 877.908.3360. BBB Scam tracker

 

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

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

 

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

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

 

Jobs

Job scams: Before submitting an application, verify there is really an offer: Never SS#

 

Who owns your account now?

BEWARE: trusting media gurus or “successful” financial advisors can be dangerous

 

Miracles:

Asian woman, 75, beats back man who punched her: turn other cheek to racism?

Science: we do not know what 95% of the Universe is made of: new particles found?

Earth just missed meteor crush: we are lucky to be alive today

 

summer has increased by 17 days on average across the globe: soon, hot half a year

 

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/

 

 

Having a hard time sticking with your allocations?

Having a hard time sticking with your allocations?

Market ups and downs can lead you to destroy your wealth. Actually market volatility is normal—it’s our reactions that destroy our long-term accumulations, not the allocations. How we react to news can hurt us. Usually, TV gurus and fund managers are trying to collect more assets, not manage your money for your maximum dollars. What we hear has nothing to do with our strategy. Managers get paid on how MUCH money they manage not on how WELL they manage it. These are two different but related goals. Managers get paid every quarter—we only have to worry about the final outcome. Research has shown that that small annual fee managers take from us can cost us up to 63% of our total potential accumulation. It’s the “the tyranny of compounding costs” that we don’t see until the end. Managers take our money every quarter but it adds up. Managers think they can time the market and we are happy for them to succeed. But over time, no manager can be successful all the time. They are in it for this quarter. We are in it for the long term. Warren Buffett: "The stock market is a device for transferring money from the IMPATIENT to the PATIENT."

Go with the Best: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Is a private equity 401k account right for you?

In a huge win for the asset class, your 401k money is now a target for professional con men and women. Trump’s Labor department, charged with protecting your retirement investments, has changed sides. Now, if private equity is embraced, 401k costs will skyrocket, risk will dramatically increase and transparency will plummet. The private equity industry — a massive campaign donor, by the way— wants your money. The typical private equity manager charges 2% of the fund’s assets as an annual fee, just for showing up, and takes 20% of any profits. 2% of the 401k pool is $180 billion in profits a year. Private equity managers typically borrow huge amounts of money to buy a poorly run company so they can flip it for a quick sale. The managers collect huge fees and stock segments while investors are silent partners with little control. Like hedge funds, investors can lose everything with no recourse. Private equity fund investment is for investors who can afford to have capital locked up for long periods and who can risk losing significant amounts of money. This is gambling at its extreme. As one advisor said, “You don’t really know what you’re investing in.” It is ‘private’ for a reason. And they don’t even beat the simple index fund. The final test: Warren Buffett’s investment strategy beat private funds because of high fees. 

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

Is this summer the time for a new vehicle?

As dealers try to catch up on sales for 2020, watch for more discounts. Keep in mind that an unreliable vehicle is NOT a great deal no matter what the price. Most notable, CR ranks Mazda and Dodge above Honda and Audi. Buick has fallen to #18 on the list. Acura and Cadillac are now at the bottom of the list with Alfa Romeo.

Avoid the 10 LEAST reliable models of 2020, according to Consumer Reports:

Chevrolet Colorado/GMC Canyon (same body style, different badging)

Chevrolet Camaro

Jeep Wrangler

Alfa Romeo Giulia

Volkswagen Atlas

Volkswagen Tiguan

Acura MDX

Tesla Model X

Chrysler Pacifica

Chevrolet Traverse

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

Did automation and simple options save your retirement fund?

In a period where many investors lost money, two-thirds of Vanguard’s retirement plan participants saw their account balances rise on a year-over-year basis for the 12 months ending on April 30. Vanguard found that automation and simplified investment options have led to superior investment outcomes for plan participants. The median account balance among its 401(k) participants increased 71% between April 2015 and April 2020. As founder, John Bogle said, “stay the course.” https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Do you really need a will?

My house is owned jointly. It becomes my wife’s automatically at my death. Some of my financial accounts are held jointly. Most of my assets are in IRA accounts with beneficiaries already chosen. My business is a partnership with the partners already in control. There are very few assets that need a will to designate their new owner. If I died today, my wife gets my car and my life’s ‘junk.’ I made a will for $100 that was witnessed by a local notary for $20. My wife will consult with a lawyer to execute my will. She will pay a one-time fee to have a CFP check her financial assets once a year. My stock holdings are my ‘life insurance’: no taxes on the stepped-up basis. I have made arrangements for my cremation so no funeral/plot expenses. I don’t have ugly heirs that would contest my will and gifts. Yes, a $100 will is a necessary convenience for us.

Do you need one? https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

Should you work one more year?

We are facing another year of this question. Given the discussion of another home remodeling project and another possible collapse of the stock market, this year turns out like the last one: we don’t have a clear answer. We have a CFP plan that assures us of money for the rest of our lives so no matter what, we will live comfortably. But that does not change the question—work or not work. It is just NOT about money. It is hard to say goodbye to our everyday routines. We don’t have a compelling goal of travel or other must-do ‘bucket list.’ We love what we do so it is hard to give it up. And with the market and economic upheavals, we don’t feel confident that this is the time to make a change.

Fix your mistakes: https://www.amazon.com/What-did-wrong-financial-mistakes/dp/1491095946

Wealthy get another bailout from US taxpayers

The US gov announced it will reimburse the wealthy for their losses on companies they own if they were run poorly and lost money. The Federal Reserve (us) will buy individual company bonds. If you ran a company that borrowed more money than your revenue so that you could reward your stockholders, you would be rewarded with a big bonus. However, when you have to pay back the money, you should be bankrupt if revenue falls. These “zombie” firms would be dead if it were not for us taxpayers giving them money in the form of future tax dollars for their almost worthless bonds. If they could not run the business before, are they likely to fulfill ‘promises to pay’ later. Since the Fed can create money to buy bonds, it just adds to the national debt and makes the rich richer. We will have to pay interest later. Actually our kids will be paying long after our Social Security benefits are cut to help finance this bailout.

Avoid paying for this bailout: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

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

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

How Mobster’s 2^nd, 3^rd terms will look

With presidency usurping power of Congress and Supremes, American ideal is at risk.

IsTrump Ahab manipulating/misleading to exact revenge on demonized foes?

Mobster took revenge on his relatives: cancelled policy on ill child

Mobster: Americans wear masks to show “disapproval of me” ‘It’s all about me’

West Point alumni cautioned cadets to uphold Constitution NOT any political party or leader

Mobster gets China to hack Nov election results

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

US Socialism: “Hiding recipients of federal funds is unacceptable and must end” Putin does this

FL fired virus scientist who would not fake count: she counts real spread on her own site

Socialism for the Rich: Can we afford to bailout so many companies and wealthy people?

Hackers at CIA allow bad guys to gain tools and code to hack civilians: which side on?

TX AZ govs refuse local use of masks to save lives: they give ‘liberty’ so that more die

More time for the wealthy to avoid their fair share of taxes: another Trump gift to friends

Jared buys $7.3 million tiny soda bottles instead of test tubes: FEMA accepts them.

Jared bought 63 million doses of bad hydro for Daddy but Daddy didn’t listen to science.

SCAMS/SPINS:

Wealthy make $ billions from ‘flipping’ a taxpayer-funded coronavirus drug

Garrison Courtney DEA caught scam to give gov contracts to firms he worked for

Trump cancels Obama’s LGBTQ & DACA protections: Supremes say NO NO.

Trump oversees ‘Pump and Dump’ stock sales by his mob after calling virus “zero cases”

Trump takes over Voice of America and our Post Office: ‘lost’ mail for election win?

FoxNews uses altered/misleading pictures of protesters: appear violent/dangerous

Secret Service now admits it used pepper spray and bullets to make path for photo op

GOP makes sure voting becomes 7 hour ordeal: GA is the model for Nov?

TX white man shot 8 because bar refused drinks: white guy gets away.

GA man shot in the back: police shot him while running away.

CA two Black men dead by hanging. No note, no stool, no struggle, no investigation?

NM terrorists with war weapons shoot protestor: police allow war weapons’ use

They call themselves ‘militia’ but aren’t they really terrorists with ARs?

Who are these Boogaloo terrorists in Hawaiian shirts and carrying military rifles?

Virus scammers’ psych tricks: fake voice, fake creds, fake charity, fake fears, fake ‘now’

Re opened Texas, Florida and California recorded record numbers of new cases

Trump: Stopping C-19 Tests Would Result In Fewer Cases: Yes Don, so would wearing masks!

Finally, drug price-fixing/gauging investigated by states

Probiotics don't do much for most people's gut health, review finds: costly hype!

Fake gov grants to seniors: scammers use virus fears

Fake Robinhood account balance: Teen panicked at $ 730,000 loss on trading.

Frederick Stow TN caught stealing a total of $933,500 in client funds by forging names.

Scam Q&A: https://www.aarp.org/money/scams-fraud 877.908.3360

Jobs

Tips on avoiding virus at work: https://www.cdc.daily-life-coping/activities.html

Like abusive priests, bad cops get work in towns that want aggressive lawmen

Tom Brady selling supplements: $20 millions not enough; just bored with game?

Supremes save some of the best workers we have: DACAs want to succeed!

Who owns your account now?

Get forgiveness: revised EZ Paycheck Protection Program loan forgiveness application 

Eviction process put on hold for 2 months for federal-backed loans: check your servicer.

Miracle:

Biden for prez? : “I’m beginning to get bored by my own talk here”

Human compassion saves lives: human discussion brings him back to life

FL scientist raises money so residents informed of actual virus counts not official fakes

Those without rights are saving us and risking themselves: gov should be on their side

Volunteers to take the virus vaccine test: possible serious illness!

60 year old generic drug helps some virus patients: don’t tell for-profit drug makers

White ‘christian’ evangelical tries to explain “slavery is blessing to whites” Warped religion!

TX 6/19/1865 Army tells slave owners their 250,000 slaves are not slaves anymore. 

IAN

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Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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