BEWARE: Your ‘discount’ broker sells expensive products
According to a Wall Street Journal story recently,
Schwab, Fidelity and TD Ameritrade incentivize their advisors to sell more
expensive products to their clients. Yes,
it is true. Unless you verify the cost of your “discount” broker/advisor,
you are paying too much. You may pay 3 times the price others charge,
especially for ‘managed’ accounts and proprietary items. For instance, if total
costs for the account and the product are 2% a year, you
are giving up 63% of your total potential. There are better products at
lower costs. Buffett
recently proved this, again—pay 0.04%. If your portfolio produces 6% over
time and your cost is 2%, you earn 4%. On $1 million account, your balance is reduced
to $2.1 million from $3.2 million. Based on interviews with dozens of former
employees of the three largest discount brokerages, the firms encourage
advisors to sell higher-cost products. Their rewards, NOT YOURS, are trips and
bonuses.
Pay less; earn more: https://www.amazon.com/Your-Advisors-Handbook-advisors-secrets/dp/1981644350
IRS changes withholding rates
New
rates mean more wages for some less for others, especially in the blue
states. They will be increasing the amount sent to Washington
since their deductions are going down. Since working Americans will be paying
for the tax cuts for the wealthy, Trump wants to triple
the fed gas tax to pay for more GOP spending. Not every wealthy
GOP Congress person is in favor of making working Americans pay higher gas
taxes to offset their tax cuts. However, fed revenue has been cut and the wage
increases from more jobs will take time to come, if ever. Carrier, Trump’s
poster child for jobs, has laid
off another round of workers in January. WalMart
followed by closing 63 stores.
Some states have increased their state
income tax rate so you may not have higher take-home pay. Other states are
finding ways to offset
the fed limit of $10,000 on property
and state taxes. GOP will raise
health care costs as part of the budget deal.
Avoid paying for the $1.5 Trillion
tax cut: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
“You all just got a lot richer”
with my new loophole
Trump boasted this to members of
Mar-a-Lago on Dec. 22, according to CBS. The wealthy have a new tax loophole to
avoid paying their fair share. The new deduction allows people with
pass-through income — profits from a partnership or sole proprietorship, for
instance — to write
off 20% of that income before calculating their taxes. For instance, Trump
owns more than 500 large, pass-through real estate firms like his golf clubs
and hotels — just the type of business that would qualify most easily. His
family and heirs can now avoid estate tax. They avoid the
AMT—millionaire tax created by Nixon so the rich could not avoid taxes
altogether. Trump
did in 1995. Your business may qualify
for the 20% deduction too.
Buffett's SIMPLE
Strategy Beats
Wall Street
The Master of investing, Warren
Buffett, proved it, again. You do NOT need Wall Street 'professionals' to
reach your financial goals. In fact, if you use them, you may give up 63% of
your potential accumulations because of trading, charges, commissions and fees.
Buffett’s SIMPLE strategy earns over
11% per year. DALBAR keeps track of returns and found that
the average
managed-account equity investor earned just 3.79% a year over 30
years. The
benchmark returned 11.06%. You and I can start beating Wall Street with one
phone call. Earnings are tax-FREE after age 59 ½ in special account too.
Earn 11% a year with Buffett’s
SIMPLE strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268
IRS free tax filing sites to avoid
$300+ cost of filing
Commercial tax prep sites offer
expensive loans as advances on your refund but you can keep
your whole refund using the IRS free filing partners. Refunds can be in
your account within 2-3 weeks.
The average refund is over $3,000. You can create a tax-free retirement fund of
$500,000 with that amount each year.
When you absolutely, positively,
HAVE to get there
Certain vehicles seem to last for
at least 15 years, at least on
this list. Sorry, American nameplates avoid the list. But most Toyotas and
Hondas are actually made by American workers. My 2012 Camry was made in Georgetown , KY. Toyota spent $1.33 billion at the facility and added 700
new jobs in 2017 in preparation for the all new 2018 Camry; the first
copies of which rolled off the line on 28 June 2017 . American nameplates do show up on the LEAST
longevity list, with Explorer and Cherokee at the top—bottom. Fiat builds
Cherokee in Toledo OH Venezuela and Russia and assembles
it in Chicago. Are Fiat and Ford designed poorly to NOT last?
Design
your insurance well: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage-ebook/dp/B009MA9FY6
Trump creates agency to enforce
GOP religionist views; discriminate non whites
Office of Civil Rights used to enforce
patient safety and privacy concerns. Now its new division, Conscience
and Religious Freedom, will enforce "laws and regulations
that protect conscience and prohibit coercion on issues such as abortion and
assisted suicide in HHS-funded or conducted programs." "By ensuring
individuals and institutions can exercise their conscience and religious
freedom rights, OCR furthers justice and tolerance in a pluralistic
society," says an announcement that published in the Federal
Register Thursday morning. This is a tool to restrict access to health
care for people who have different values than the conservative religious
political arm of Trumpism. The irony is that this Trump constituency professes
religion but has no problem with Trump assaulting
women and his extramarital
affairs. Their idea of ‘freedom’ is my ‘restricting options.’
GOP religionist wish to control
each American’s behavior and their twisted idolatry is the method to do it.
Trump’s Moral Police will enforce
one religion’s view of how we act.
It is aimed at changing the
behavior of non white, non straight, non GOP citizens. Hitler passed laws
regarding the behavior of his scapegoat groups—jews, gypsys, cripples, etc.
Trumpism enforces GOP view of behavior while ignoring immoral and coercive
acts.
Your advisor firm is taking more
from your account than before
Morgan
Stanley Wealth-Management Fees Climb To All-Time High is the headline.
Morgan is not alone. If you made no trades and purchased no products, you may
be paying over 1% of your account balance for NOTHING. Many firms have been
moving more wealthy clients into fee-based
accounts that are priced on asset levels rather than activity, boosting
results as markets rise. Many clients were moved to permanent annual
fee-based mode as a response to the change in the Fiduciary Rule. This Rule was
designed to make advisors do what was best for us instead of selling expensive
products we did not need or want. Instead, this trend will cost us more in the
long run under the guise of a permanent firm ‘managed’ account. We are still
being mislead.
****************
Make “Donald” Great Again
“I have absolute right to do what I want to
do with the Justice Department,”
(Court
judges in Reich were instructed to submit lists of lawyers who would be
trustworthy. The main requirement was absolute political reliability. Hitler’s
Justice)
Trump
can’t be a racist: “he had a TV show” ??
Trump creates religionists
agency to foster discrimination excuses
Mandate: ‘I was elected President’ like Washington, Obama
and Hitler
Bannon and I wish to “destroy the
state”–our government.
National
Park Service Advisors resign—our parks converted into shooting clubs.
How Govt wastes our money:
Trump
tells Bannon to refuse subpoena testimony—must be serious Trump treason.
Why is it OK for Trumpers to refuse
to answer questions from Congress
SCAMS:
Another
racist campaigner chosen by Trump for his view on non whites forced to
resign.
Trump family promises
Indian condo buyers trip to US if they buy Trump Towers flat.
Jobs:
Trump
bans immigrants but hires
70 immigrants for his low-pay jobs at FL WH
Fed shutdown has workers continue
to pay SS and military as essential services.
Who owns your account now?
Miracle:
A miracle if Congress passes bill
that requires
them to pay their own sex settlements.
IAN
41 Watchung Plaza, B242
973.746.2014
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