Why is the boring target-date fund right for you?

 

Your advisor is costing you $8,800 or more

Do you know how much your advisor is costing you in terms of long-term accumulation? Most folks do not know because their advisor does not publish the benchmark returns that compare their returns to published statistics. Folks who use index funds automatically see how they are doing with their ultimate goals. So far this year, their account has grown by about 19%. Over the last 10 years, they have advanced over 16% per year. If they have been contributing their tax refund—about $3,000 a year—they have accumulated another $75,500. The average advisor costs run 1-2% a year between annual expenses, trading fees and bad market timing. Depending on your situation, you may have lost $8,800. Because of compounding over time, you may end up with only $569,000 instead of $882,000 using advisor cost averages. That is a lot to give your advisor: your $313,000 pays for their children’s education. But then who pays for yours?

Earn more automatically: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Is auto-home ‘bundling’ right for you?

Sounds good but most folks find it is not right for them. Why? Bundle benefits go to the insurer not to you. Buying both auto and home insurance from the same company assumes one insurer can provide the best deals for you. That just doesn’t happen. Insurers price their products differently depending on their financial needs. You can save $ thousands over time by taking advantage of their shifting marketing strategies and also changes in your needs. For instance, insurers in CA and WA have had to raise rates as more fires got worse in recent years. If you have the same insurer in AZ your rates have also gone up. On the other hand, driving and commuting have been reduced so your rates are now found in the ‘leisure’ category. If your credit score has improved, your rate could be lower but only if you shop your vehicles to other carriers. Insurance agents don’t have an incentive to call you when your rates could be lower. Or they don’t know that you now have a minor on your policy or that you now have a dangerous dog. You can’t know you could be paying less for 10-20 years unless you compare rates often. Each insurer has their own set of discounts so you may qualify for more with a new insurer.

Drop the extras: https://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

 

Is your family member a scam target?

Certain folks are more likely to be scammed than others. Consider how the results of this study may impact your family members. The scam target is not likely to ask questions of an offer or product or agent. Researchers propose that mental frames governing compliance, opportunity, intelligence, and order may have affected the way that interviewees interpreted what scammers told them. Individuals were more likely to lose money if they believed that:

• Authority should not be challenged.
• Financial opportunities are a zero-sum game with clear winners and losers.
• The world is organized in a way that rewards good people.
• Asking too many questions can make a person seem ignorant.

Study participants explained how scammers reached out with promises of easy money or lucrative investments. Others described receiving phone calls from fraudsters posing as IRS agents and demanding payment of back taxes. Some scammers pose as eager lovers who promise to pay you back. Natural disaster victims are especially vulnerable to scammers since desperation makes us perfect prey.

Educate your family: https://www.amazon.com/Money-Scams-2014-insurance-financial/dp/1505437962

 

Is prepaying your funeral right for you?

Covid deaths—now over 700,000 and counting—have some folks thinking about the future. What is new is paying for your departure in advance to a lay-a-way company with no track record. Funeral homes have had their own ‘pre-need’ accounts for centuries. Of course your prepaid account may not last long enough: there are business failures. However, like buying life insurance for final expenses, paying for a funeral on a lay-a-way basis is not the best solution for this expense. Some plans offer a price ‘guarantee’ but how do you know they will provide the expected services. Some new ones offer affordable monthly payments in advance. Some claim they will hold the money in a bank and move the money to a funeral anywhere in their system. A better way is to designate some of your legacy for your final appearance. Since you don’t know about costs in advance, you may want to leave a note with your will explaining what kind of show you want and how much to spend. You need to designate a trusted executor to follow thru on your plan. My plan is cremation by the medical school when they are done with me. God knows what is on my tombstone. Relatives may want to give a toast at the final dinner.

Your plan or their plan: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

 

Why is the boring target-date fund right for you?

Tests and surveys have consistently shown that steady contributions—the same amount each month—to these low-cost index funds provides the best chance of reaching the maximum accumulations over time. This boring investment strategy beats any advisor or computer-run strategy because the market swings are unpredictable. Most investors and their advisors think they can do better than the market index funds. Hubris was identified early in human history as being the cause of one’s downfall. Morningstar, the investing analyst, ran some extra simulations and DCA (dollar cost average) does possibly account for some of the gap in returns, but a perfectly-steady DCA investor still outperformed the real-world investor in 6 out of 7 fund categories. DCA can’t be helped if you are simply investing what you can, when you can, but there is still extra trading in and out that appears to only make things worse. Market timing, the effect of using ANY investing strategy, has no benefits for you except maybe in the short term. Warren Buffett advocates this “dumb” way of investing because it succeeds.

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

 

Help your child or grandchild learn to manage money

Instead of buying your child or grandchild life insurance to make sure they have coverage in the future, buy them financial literacy. Give them a leg up with money making skills. The old advice still works: Give a person a fish, you feed them for a day. Teach them to fish and you feed them for life. 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. We have used this 'Wealth Reserve' as I call it to have funds to use low-cost high-deductible insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in retirement supplement. Advisor fees take HALF your funds.

Follow 3 steps: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

 

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

 

 

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

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

Subpoenas for Trump’s failed government overthrow

 

Domestic terror double foreign terror

 

Another terrorist of failed Coup guilty

 

Trump’s overthrow plan in 6 steps

 

 

How Govt wastes our money:

Longest war is over so why give Pentagon $24 B more? Peace dividend for more bombs?

GOP to let America default on debt to show Dems who’s the boss: win at any cost!

Domestic terrorists, real threat, evade our $52.6 Billion intelligence and legal systems

 

Debt ceiling acting out: how can we take these squabbling kids in Congress seriously?

Why the national debt keeps going up: some Americans don’t pay their fair share

Manchin not support infrastructure bill since coal-use rules to reduce climate change

 

SCAMS/SPINS:

GOP confirms Biden win: $6 million AZ recount found more votes for Biden

62 ships but no trucks: transport costs rising and we pay higher prices for items

Car warranty scam: third-party warranties not worth it: don’t cover many repairs

 

Caught: Never give your kids work files: they might save evidence of your fraud

TX taxpayers to fund Trump request to see if he really won in 2020: Biden won TX?

CA allows every voter to mail-in ballot from now on just like Trump does, not like TX

 

Federal bankers caught: insider trading: bankers bought what they voted Fed to buy

“Brand ambassador” scam: you get promo exposure if you buy product but it’s broken

Fake media is so easy to make we have to check with other sources.

 

Employers are embracing software that allows them to track workers online. 

Colonoscopy center charged ‘facility’ fee $345 despite Medicare’s FREE screening.

$54,000 TX Covid tests: America’s health system will bring socialism eventually

 

OK is tops in death by police: 84% of police killings since 1980 were unreported 

Get out your guns: Murder rose by almost 30% in 2020: if everyone packs, no murder?

London police warn women to be wary of lone officers after Sarah Everard murder

 

Supremes claim not political: decisions to reverse Roe v Wade, gun control, vote rights!

 

Jobs

High-paying jobs that don’t require long experience record: $56-66,000 a year

Police and fire in LA spread Covid to public: LAPD ‘freedom’ beats your safety/service

State workers would rather quit than take vax: brain washing complete!

 

NC hospitals need vax ready med staff: fired 175 Monday: more have warning

13 Home-based jobs certain careers: high pay

United Airlines Prepares to Fire Employees Who Refuse Covid-19 Vaccinations

 

Who owns your account now?

Where is your long-term and short-term money?

Phone companies required to block any incoming traffic on list: will they bother? 

 

Miracles:

Permian mass extinction: rapidly rising CO^2 from volcanic eruptions in Siberia

Ugly buildings: contest to see how bad it can be

Iceland has elected first female-majority parliament: future of Congress working?

 

Berlin’s first female mayor Fran after historic electoral gains for her center-left party. 

Let’s talk about courage: Zion knows: when you feel frustrated to continue.

Retirement fund build up: Stones back on the road working for more cash

 

Custodian Chris, no car, walks miles to work so teachers bought him used Chevy`

Biden finally reverses Trump: penalties for killing birds confirmed

 

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/

 

Wisdom comes only thru suffering Aeschylus

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Can we pay fewer taxes like the rich?

 

Student loan rates going up

Interest rates on federal student loans are set to rise nearly a full percentage point later this year, increasing the price of borrowing to pay for college for current and incoming students. The new rates, which are based on the results of a Treasury auction Wednesday, apply only to loans issued for the upcoming 2021-2022 academic year. Old loan rates stay the same but is it time to take some gains and pay old loans down or off? Unless you have need of the tax deduction in retirement, getting rid of debt now may be a smart move. On the other hand, the interest on this debt reduces income and taxes even if you don’t itemize. If you are concerned about your grandchild paying for higher education, you might use some of your gains to reduce the amount of loans taken out. Some of us have experienced better earnings (56%) than expected and a college education is a great use of our money. Saving for college can be less expensive using a 529 plan. You may also consider having your student do the first two years at a community college.

Consider your options: https://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956

 

Advisors having a hard time beating low-cost index funds.

If you did not notice or your advisor does not use a benchmark, your low-cost index fund beat almost all the traders this past year. Vanguard’s 500 Index is up 56% for one year. Yes the stock market goes down but you get a long-term average of about 11% in a low-cost fund. Since 2010, advisors have been hard pressed to earn their fees. Vanguard charges 0.04% a year because we investors own it—no middle people—so we keep almost all of our gains. Many of my readers hit or passed their goals for the year already. Just consider how right your advisor must be buying and selling to beat the market. Even the smartest gurus have trouble beating the markets. Yale’s legendary manager David Swensen with his 12.4% record failed to beat the market rate of 13.02% during his 1985-2020 tenure. Most advisors earn you only 3.79% over time. You can do better.

Earn 11%:  https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

 

Does “bundling” insurance save you money?

Several carriers claim “bundling” or “customizing” saves you money. Certainly, it saves the insurer money. But buying two or more policies from the same company may actually cost you more. We need to shop for the best deal for each—auto, home and umbrella—since each contract has good and bad elements. For instance, my homeowner’s has been in place for 40 years and no other provider can match the price. On the other hand, my car company keeps raising the price despite me driving less, taking the safe driving course, and keeping my cars longer. And only my vehicle insurer will write my lawsuit coverage since it depends on a certain amount of vehicle liability coverage. Giving all your insurance business to one agent makes sense for their convenience but often costs you more, not less. Worse: some folks buy their retirement income and investments from their insurance agent. “Bundling” is a sales gimmick not an insurance discount.

Shop and save: https://www.amazon.com/Save-000-every-year-Only/dp/1500681571

 

Can we pay fewer taxes like the rich?

Inequality has grown dramatically over the last four decades: The top 1% have enjoyed extraordinary income growth, while growth for the vast majority has been anemic. Yet high-income households have not been asked to pay higher tax rates and corporations’ contributions to federal taxes have fallen to historic lows. Wages have fallen over time—they have become detached from productivity gains. Tax assessments come from wages and the rich don’t live on wages. And Social Security stops taking taxes on incomes over $142,800. Most of their income is tax-deferred or tax-advantaged. For instance, Warren Buffett with over $108.2 Billions pays only 17.7% while his office workers pay over 32.9%. The wealthy use complicated legal entities to hide their incomes. Take the former president’s claim that you are smart when you can pay professionals to manipulate your income. They found him a way to subtract his failed businesses on his personal income taxes so he can avoid taxes for years. Stop paying taxes like the rich; but do it legally.

Tax-FREE IRS account: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

How to keep your retirement full of income

First, you gotta beat inflation—25+ years may be the length of your income needs—but the VALUE of your fixed income is cut in half in 25 years. In the past, when people died right after retiring, they never had this problem. Today your $800 a month will be able to buy only $400 worth of goods in 25 years. You can’t beat inflation by holding your nest egg in 1% CDs and bonds. Stocks will protect you from inflation since the average return of 11% is greater than the 3% inflation rate. Prepare for a down market by using two buckets—one with a year of living expenses and the rest in a stock mutual fund like Warren Buffett’s heirs. Second, you can’t be assured of cash later if you spend it unwisely now unless you continue to grow your portfolio. Third, you can’t buy your kids happiness at the expense of your future. Most grandparents want to give financial support but they also don’t want to become a financial burden. Relax; your offspring will make it on their own by learning how to save. Fourth, get out of debt as soon as you can so you can have enough for later. Fifth, use tax-advantaged accumulation accounts. You have a great legal tax shelter available so use it for a tax-FREE retirement.

Go tax-FREE: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Maximize SS benefits with your spouse

Taking Social Security benefits is not so simple. You and your loved one need to look closely at the options together BEFORE making a decision since some decisions cannot be reversed. Because the SS offices are closed now, you need to use the website and get help from a knowledgeable source. If you can make an appointment, even virtually, your best source may not be the SS office personnel. However, they helped us learn of collecting higher benefits than we thought we received when we first applied. There are claiming strategies that are better long-term than taking benefits as soon as you can.

How to maximize income: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224/

 

 

Where is that refund?

The Internal Revenue Service 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

 

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

 

 

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

 

 

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

 

Dictator steals reporter’s correspondence

 

When ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

Lack of health insurance delays treatments: more critical care and expensive solutions

GOP wavers on rounding up tax cheats: political donations matter: workers pay more tax

We paid $7 million in fake farm owners: no D&B, property or employee checks

 

Trump continues to take our money to push his propaganda: Steve Miller on our salary

 

SCAMS/SPINS:

GOP: No Jan 6 insurrection; no Dem president; no taxes for repairs; no discrimination.

Death threats used as a tool of control of GOP: GOP policy now: It’s the big lie or death

Trumpist illegal voting: prosecuting the wrong group

Trumpist news: Census did NOT count voters: Fake pics mislead

 

GOP millionaires say extra $300 unemployment is too much: min wage “$290 is better”

Congress protects scammers once they have our money: FTC can’t return our stolen $.

GOP takes control of PA gov decisions on emergencies, schools, etc

 

Auto pilot kills another non-driver: Tesla didn’t ‘see’ truck or side of road at night

 

BEWARE: cheap hearing aides may not work well: return policy?

Masks still needed 7 places: keep one in pocket

Many conservative men fear vax needle keeping the pandemic death rate high.

Vacation in safe spot: US has pandemic hot and cold spots: Few get shots here

 

Broker violation check useless: 90% of FINRA complaints/violations removed

Knight Nguyen caught selling high-risk fraudulent securities promising low-risk alts

Richard E Jackson TX caught framing the wrong men: how many more? No jail

UBS, UniC, Nomura caught in EU bond price-fixing cartel : fine; no jail

 

CNA Financial IL raising rates to cover $40 mil to hackers: cheaper to hire the hackers

 

DMB Financial MA debt consultant caught charging unlawful fees: refunds but no jail

Frederick M. Stow TN caught stealing $930,000; forging transfer forms: 5 year jail

Fidelity allows teens to gamble: no experience/oversight required, another suicide?

 

Paying ransom or neutralize hackers: $5 million or Seal Team 6 next time.

 

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

Gov hiring: good pay, benefits, pension, no layoffs,

Be creative: Neanderthals died out because they were less creative than humans

Joe Biden is selling new eF150: starting at $39,000: it is “quick” he says.

 

Coping with new work environment: yes, you must wear clothes again

 

Who owns your account now?

Homeowners insurance ratings: your best deal for coverage

Vehicle insurance ratings: you best deal for coverage

Refinance before rates go up: 3% rates won’t last forever

 

Used car prices up 12%: average $23,000: more than new

State Farm to provide electric-fire detection monitor: plug in sends message to phone

HealthCare available for pandemic victims: get subsidies just like your Congressperson

 

Best household paint: 5,804 opinions help you pick—good paint saves money/time

 

Miracles:

Texting by thoughts: computer translates thoughts into text

No mask; no 6 feet; not HALF vaccinated: 590,000 and counting

Iceberg 80 times the size of Manhattan on its way to find Titanic: friends reunited

 

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/

 

Is “bundling” home and auto insurance right for you?

 

Give your child a leg up

The secret to giving your child a solid financial foundation is to put their savings/investing plan on automatic. It is time and compounding that creates wealth. It takes 35 years for your savings of just $250 a month to become $1,000,000. $250 a month for 35 years totals $105,000. The Miracle of Compounding makes it worth $1,000,000 or more. This is not a get rich quick scheme. This is the strategy used by Warren Buffett to accumulate more in 10 years than 5 Wall Street hedge funds combined. This is the low-cost one-decision strategy that has worked for millions of investors who don’t need to brag publicly about their successful investments. This strategy is so simple you don’t need to give up over 50% of your earnings to an advisor to make trades. Over time this strategy earns 11% per year—doubling your money every 7-8 years.

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

 

Have tax forms; will file … for FREE

W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. If you have all your forms, file for FREE online. 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

 

Is “bundling” home and auto insurance right for you?

All insurance companies would love to have all of your insurance dollars. But does that make sense for you? First, one company does not offer the best coverage for every situation. My first auto company declined a simple claim that took weeks to resolve. Plus, I have had home insurance with one firm for 30 years and so have a longevity discount. I have shopped other carriers without success. Second, insurers change their profit strategies frequently. I keep testing car insurance rates every couple of years and save $ hundreds each time I shop. Recently, the insurer raised my car rates without any reason. I asked the CEO’s office for some explanation. They said “general” price rise was the reason. I asked if there was a discount I did not have and they confirmed that I was driving less now. Wow—they gave me another discount. Third, insurers go through marketing stages: today they all claim to save us $ hundreds by bundling or “buying only what you need.” Without shopping you won’t know what’s possible. Shopping carriers has saved me about $10,000 over the years. These are vendors not your spouse.

Shop: https://www.amazon.com/Save-3000-every-year/dp/1500681571

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

 

Wealthy line up to avoid taxes in future

After reaping the huge tax breaks of the Trump-GOP Senate, those who have made more are lining up at tax accountants to keep more. Even the pandemic did not slow down the riches flowing due to the Federal Reserve shoring up the bond/stock market. Some say tax increases are inevitable since the tax cuts for the rich have ballooned the deficit 29%. The wealthy uses several strategies to keep what they got from the Trump deficits. Real estate depreciation and business start-up expenses can shelter income. Converting IRA money to Roth IRA tax-FREE money works. Offsetting capital gains with losses and buying tax-FREE municipal bonds are used. Writing off PPP loans and using the opportunity zone investments strategically are more ways to pay less. Gifting highly appreciated assets saves taxes too. Most of us can take the less expensive route to avoid future taxes. Set up a legal Tax Shelter in 1 hour.

Use your IRS-approved account: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Is a “no-closing costs” refi right for you?

Yes there is a way to refinance your mortgage without closing costs at contract. No, it is not FREE. Someone must pay the appraisal, local fees, processors, etc etc—and that would be you. The costs are added to the principal. The simplest no-closing-cost refinance takes the amount that you would have paid during closing and tacks it onto your new mortgage amount. Your lender adds the closing costs to your principal, or the unpaid balance of your loan. This may increase your monthly payments but doesn’t affect your interest rate. You might also be offered a higher rate to cover the closing costs. If you still have a lower rate than now, you still are better off with a refi since rates have fallen. If you need cash, interest rates on mortgages are usually lower than home equity loans, which means that even if you take a slightly higher rate, you may end up paying less compared with another type of loan. Choosing a no-closing-cost refinance may make sense if you don’t plan on staying in your home for very long. But if you plan on living in your home for a long time, you may end up paying thousands more in interest by taking a no-closing-cost loan. Save by finding the facts BEFORE you sign. Research starts here.

Get 3 estimates: https://www.bankrate.com/mortgages/refinance-rates

 

 

 

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

 

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

 

 

President of the United States tried to overthrow our government

 

Dictator: “you’ll never take back our country with weakness”

 

House impeaches Trump 2^nd time: "incitement of insurrection"

 

Dictator gives sacred cemetery to mine-waste dam co

 

QAnon: “we all got played”

 

 

Our ‘Truth and Reconciliation Commission’? 

 

 

 

How Govt wastes our money:

Lucky 143 to give enough to dictator to get pardon or get out of jail? Drug dealers too.

Should the Capitol riot instigators pay the damages? Dictator has $billions; pays $0 taxes

Dictator trial will determine if runs 2024: Cruz & 147 GOP try coup again? GOP to stop voters

Domestic terrorists hiding in Congress: who gave the tours, opened doors, gave desk locations?

 

Dictator with $ Billions fears attacks: We pay $ millions for SS guards for his family & friends!

 

 

SCAMS/SPINS:

Terrorists plan: "to capture and assassinate elected officials," Justice Department lawyers say.

Trump support and belief in election fraud still strong: GOP still drinking Kool Aid

Trump terrorists dress like inauguration guards: many dictators use imposters to kill opposition

Terrorists attack Portland Dem HQ: no unity; reject Dem admin. prez; want revenge

 

12 army guards with ties to right-wing terrorists removed from inauguration mission

“More firearms were sold last year than in any previous year” 2^nd Civil War preparation?

 

Terrorist: “I’m a country boy: didn’t mean to bring gun, ammunition to D.C.” 500 rounds of ammunition

MyPillow owner wants martial law to keep dictator in power: stores ban Lindell products

Terrorists w/ illegal machine guns in Richmond: armed in camo garb: Only blacks get arrested

 

Ron Reagan: “Tear down this wall”: will Senate take Ron’s advice? Ron’s Stop the steal!

White Supremacy from FBI insider report: KKK was never this well organized

Pentagon to rid our ranks of racists and extremists: Black Sec Defense; 12 Guard out

 

Trump retirement party: military show: fighter jets/21 guns: distract from armed coup/bombing?

US looks like 3^rd world country: thousands of soldiers called out for terrorists across nation.

 

Ivanka Jared escape negative press: buying FL island home: not GOP defense witness

Trump vaccine reserve gone before Biden release: HHS: “not authorized to discuss the matter”

Biden can’t give 100 million in 100 days: no 100 million reserve left? Trump sent to Putin?

 

Owner Samaritan’s Purse ($622,252 salary) calls House members Judas (took 30 silver coins)

 

'Divinely Inspired' ‘trading’ by 2 convicts; $10 million Ponzi con; ‘20% riskless’ return; no jail

Kevin Brill MA caught stealing $600,000 from 3 family trusts; fake tax returns: prison

1st Alliance Lending caught misleading, using unlicensed sales, cheating, lying: only fine 

 

 

 LendUp Loans caught violating Military Lending Act  overcharging, misleading: no jail

COVID-19 Vaccine Scams a 'Growing Problem' Amid Slow, Chaotic Rollout

Ford Mazda recall millions for Takata air bag inflators defect

 

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

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

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

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

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

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

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

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

 

Jobs

Amazon gives vaccine to 800,000 employees: facilitate shipping vaccines

Biden looking for tech specialists to fix processes in government

Check your credit scores BEFORE you apply: employers do credit check before hire

Sales jobs are virtual and abundant: sell yourself first—everything else is easy

 

Who owns your account now?

Rent assistance: apply for programs from your state: local help varies

Debt forgiveness: Cancel your PPP loan if less than $150,000. Form 3508S

 

Miracles:

We need a miracle. 3,000 die every day. 420,000 so far: 1918 pandemic killed 675,000

We need a miracle: 16 million people now claiming unemployment benefits.  

 

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

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

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

 

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Financial industry BIG LIE

Financial industry BIG LIE

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

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

Do we really need an advisor now?

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

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

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

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

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

Our incomes barely budged in 50 years

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

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

Are the new mobile trading apps right for you?

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

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

What is a ‘safe’ investment strategy?

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

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

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

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

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

Best holiday gift for your young person—lasts a lifetime

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

SCAMS/SPINS:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Who owns your account?

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

Jobs

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

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

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

Miracle:

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

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

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

ObamaCare mandate actually saved lives by forcing states to offer coverage

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts