Cutting recurring costs can save you a fortune

 

Can you take out 10% of your nest egg each year?

Some baby Boomers think their advisors would recommend this amount to be withdrawn each year in retirement. “Today’s low yields on bonds and high equity valuations mean ‘retirees are unlikely to receive returns that match those of the past,’ Morningstar says.” Fidelity said that over the timeframe of about one century, a 4.5% withdrawal rate would have lasted throughout a 30-year retirement in about 90% of the periods analyzed. Because that is an average, you must consider your specific situation before assuming you can spend 4.5% each year. Low earnings, inflation, your health and your family longevity must be factored into your best case scenario. If the bulk of your retirement funds are in qualified accounts (traditional IRA), your mutual fund or brokerage firm uses the IRS RMD worksheet to do the calculation for you. Their tables use an average withdrawal rate of less than 4% of your previous year’s combined total qualified funds amount each year. Thus, if your investments shrank, your RMD amount will be lower. You need to learn the factors that change your prudent annual spending amount. 

Learn more: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

 

Help your child, grandchild get started on a $1 million fund

They will need a million dollars since inflation can reduce the buying power by 50% in just 20 years. Since common stocks have the best history of keeping ahead of inflation, a broad portfolio has the best chance of delivering steady returns. Since 1871 a basket of stocks (dividends reinvested) has provided 11% returns. Ordinary inflation is 3% not 8.6%, so right now stocks are cheap. If you show your family that an 11% long-term return can turn $250 a month into $1,000,000 in about 34 years, they will not be try to beat the market with fast trades through a $0 commission broker. Show them the math: $250 per month for 34 years costs $102,000 in contributions. They earn $898,000 in dividends and capital gains. If they use their special IRS tax-FREE account, they avoid about $225,000 in taxes when they take their money out to live on. Remind them that Warren Buffett bet a million dollars on a low-cost market index fund to beat 5 super stock pickers. Buffett recommends you use the Vanguard 500 Index Fund. Why? You can give up 63% of your returns when you use a broker. And if they trade to beat the market they may end up with the historical broker account average of 3.79% not 11% a year. That’s $208,865 instead of $1,021,768 after 34 years.

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

 

Quickest ways to save $3,000 a year

The Federal Reserve's 2019 Survey of Consumer Finances (released in 2020) found that the average, or mean, account was just over $255,000. The average cost of using an advisor or broker was 1.5% a year or $3,825. Since most financial sales people can NOT guarantee higher performance than the actual markets, most of us are better off leaving our money in a low-cost index account. Managed accounts earn only 3.79% vs 11% for an index account. For specific money management solutions, a one-time fee-only planner provides better advice since it is unbiased. Moving accounts is easier since a trustee to trustee transfer is usually free and not a taxable event. Another way to save $3,000 a year is canceling a loan to the US government. The average tax refund was $3,304. You will not incur a penalty if you owe less than $500 each year. So if you reduce your paycheck withholding by $250 a month, $125 a pay period, you will be able to increase your investment account by $250 a month. This creates $3,000 a year or about $200,000 extra in your investment account in 20 years.

https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072

 

Cutting recurring costs can save you a fortune

During this period of high inflation, it is important to note how much certain expenses really cost. Just as I noted above, saving $3,000 a year on your money management can really put huge amounts into your account. One reader was paying 2% of their nest egg each year for their advisor to check their statement quarterly. They moved their money to Vanguard and accumulated an extra $350,000 during their pre-retirement years. They were not only giving away 2% a year, they were losing the gains from that money. This “tyranny of compounding costs” applies to all of our recurring costs. We used to pay extra insurance premium for collision coverage on all our vehicles. We paid $ hundreds year after year until we realized our coverage would NOT pay enough to repair our older cars. This fact led us to take our policy apart so we paid only for the liability required by law. We did not need standard mileage, collision, comprehensive, gap, towing, temporary rental, health care, disability, accidental death, dismemberment, personal injury protection (PIP) and uninsured motorist coverage (UM). We then went through all expenses—cable, internet, life insurance, periodicals, etc to find more savings.

Save big: https://www.amazon.com/Get-What-You-Pay-financial/dp/1492384100

 

Another way the wealthy avoid taxes we can’t

One of the easiest ways the super rich can avoid taxes is by having the assets they donate to a tax exempt organization appraised for very very high amounts. Today Trump’s favorite property appraiser was asked to stop holding up the investigation by the New York Attorney General. Trump took a $21 million tax deductions on his tax returns by having his appraiser value the forest in front of his mansion in upstate New York so high: it’s impossible by law. Our Congress people let folks like themselves reduce their taxes by claiming a deduction for their $million gifts. They give art, land, houses that they have appraised at future or improbable values. Trump promised he would not develop the forest on his property in his retirement years. That development is not possible. This is one reason Trump is under investigation. His appraiser based the value of his property on the possibility that 24 mansions would be built and sold. Local officials have laws against such a venture. Rich people in the area don’t want the ‘low-life’ crowding the back roads and markets. So if the appraisal was faked, Trump will owe New York and USA millions of dollars. Trump’s lawyers may delay paying for years. He may end the IRS probe in 2024. Meanwhile, don’t pay the shortfall for the rich.

Use your tax-Free IRS account: https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

 

 

?**********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

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup: criminal

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

“I don’t f—ing care that they have weapons”

 

Trump “detached from reality”

 

Trump used mafia intimidation on the defenseless

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta

 

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

How Govt wastes our money:

Christian Nationalism: evangelical ideology attacks our institutions/lifestyle/politics

Alito: abortion not in constitution: cites 1600 Hale who burned witch, favors marital rape

Feds threaten woman in her home for angry tweets attacking government

States control our personal freedoms: control guns, books, sex talk, vote, prayer, birth, etc

 

FL starts arresting educators for talking about sex preference issues: 1^st Amendment end

GOP primary winners don’t question own elections but dispute Biden’s win: Fascism?

Most Americans, Across Party Lines, Say Government 'Corrupt, Rigged'

Rich buy votes to kill their taxes: IRS manipulated to ignore rich taxes: hurt poor & foes

 

GOP: show a birth certificate, passport, Fed ID, in order to vote even if already on rolls

 

EPA no authority to reduce emissions, global warming: only coal-baron Manchin can

Judge: drug pushers not responsible for opioid saturation WV: addict & doctor did it

309 mass shootings ½ 2022: gun laws not effective: all kids can buy WMD war gun

 

SCAMS/SPINS:

“Slavery” in TX: “involuntary relocation”: Texas tries to ‘brainwash’ children on history

Who Will Care for unwanted Babies? Supremes no; evangelical Christians no; TX no ?

TX uses 1925 law to make women have kids: no choice with doctor: jail likely

 

White nationalist group march along Boston’s Freedom Trail : fascists use Old Glory

Independence Day massacre: impossible for good guy to stop 80 rounds in a minute

 

Brave staff assistant already been threatened: is John McClane available?

IRS used as weapon by Trump: FBI heads targeted for deep audits: no fraud

Trump’s Supremes target liberal agenda since 1960s: reverse precedence; upend customs

Tucker, race “replacement” mouth, says not racist: gives fascist insider info

 

JPMorganChase traders caught ‘spoofing’ racketeering/conspiracy manipulate markets

Joshua D Nicholas caught crypto scam conspiracy securities fraud.

Robert Louis Cirillo CA caught steal $3 million promised high construction loan returns

Megan Hess funeral home owner caught selling body parts: victim’s family in dark

Insurers & advisors pressing Congress to make it easier to tap retirement funds at work.

IRS cracking down on charitable remainder annuity trust (CRAT) abuse.

IRS warns: Companies who promise to eliminate tax debt may sell you out

 

 

CVS takes “opportunities to hold off generic (drug) competition.” Seniors pay more.

Zelle caught deceptively marketing: big fraud problem: no reimbursement

Buy Now, Pay Later plans caught misleading loan terms: long-term burden

 

Jobs

Jobs disappearing: https://www.bls.gov/emp/tables/fastest-declining-occupations.htm

Half of millennials would quit if asked to return to the office full-time

Mass murderer passed checks AR 15, ‘quiet kid’: bring back draft; give kids a real life

 

Brown shirts: Abortion police to track down all the doctors, law breakers and taxis, etc

 

Who owns your account now?

Internet coming to trains, ships, and other vehicles using SpaceX's satellite internet

Benefits for seniors that are not advertised: https://benefitscheckup.org/

New car buying questions guide search for best deal: Feds push national sales standards

 

Cars have been made too distracting: highway deaths up

Park short-term money in short-term bond fund: 2.4% SEC yield

 

Miracles:

Cancer victim now cured after new drug: life after death sentence

Transforming windows into active power generators has just edged one step closer

Sand battery' can store energy for months: sun don’t shine at night

 

July 6, 1957, John Lennon met Paul McCartney at a church social: God loves music

Quantum computer completes 9,000 Years of Work in 36 Microseconds

 

100 people have died in extreme flooding in Bangladesh: France Portugal on fire

Warming: 50,000 people in Sydney told to evacuate their homes: climate shift

 

600 monkeypox cases confirmed in the United States: UK, Germany lead

 

Vatican shakeup: Pope names 2 women to Bishop Committee: espresso gophers?

 

 

Why Vets waited 55 years for honor by US? Must be incontestable proof! Ask Biden

WH reply: “We take careful note of the suggestions, thoughts, questions, and stories”

 

 

 

@

Everything in universe: galaxies to stones made of subatomic energy ‘vibrations’

Light is both a particle and a wave depending on how we look at the light.

A subatomic ‘particle’ is the smallest possible vibration (quantum) of a quantum field.

Mass–energy equivalence: E=mc^2.  At the smallest level; Everything is moving!

Inside protons, neutrons, it is the fields of the virtual particles that creates its mass.

“Empty space is a boiling, bubbling brew of virtual particles that pop in and out of existence in a time scale so short that you can’t even measure them.” Space expanding.

 

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/

 

 

How much does retirement cost?

How much does retirement cost?

How do average working people afford to live in retirement? Two-salaried clients— school teacher and office manager—making on average $60,000 during their whole careers, earned enough to have a $1.2 million retirement fund--$40,000/year. How did they do it? Bought 2 used cars every 4-5 years. They invested 5-8% of their checks in stock index funds inside tax-deferred accounts at work and their own deductible IRAs. Bought house 40 years ago $200,000; now worth $700,000. Camping/hiking vacations. Eat out once a month. Did their own home cleaning, repair or maintenance. Bought food, clothes, toys, etc on sale or house brand. Paid for 2 master’s degrees (no scholarship) and a child’s private college degree. Covered 3 lay off periods; bankrupt once. Saved $3-4,000 a year on securities and insurance. One took SS benes at 62; one at 70. Gross income now: $90,000—SS, pension, investments.

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

Supremes give wealthy another way to avoid our taxes

Progressive tax rates at federal and state levels are meant to reduce the gap between us and the tax-shelter class that evades taxes. Taxes were meant to avoid another Robber Baron period. Now the Supreme Court has decided the wealthy were paying too much state tax. Now we will be forced to pay more to make up for the shortfall created because states can’t tax income from wealthy trusts. The rich can now move their trusts and avoid income tax for beneficiaries’ trust. The Supreme Court has essentially opened the door to trust planning that could ‘avoid state taxation altogether.’ Plus they can now avoid an audit when they move to a low-tax state. We, who are left, pay more state taxes.

Use your double tax shelter: https://www.amazon.com/Pay-No-Taxes-in-Retirement-legally/dp/1507527977

DIY Financial Independence: Freedom Workbook

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

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

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

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

compound interest.”

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

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

Trump’s medical price stability promise is dead

The health care companies have killed any chance for giving US a break. It is impossible to shop and compare prices even for a simple standard item. There are hidden costs in every procedure even if you knew the contract price between you doctor and the hospital. Those who argue that when we have ‘transparency’ we will shop and save are overlooking the conflict of interest of the sellers. I can’t tell my doctor to use the hospital or center where I found the lowest cost. I don’t trust the doctors who work at that center and vice versa. The doctor and the center are NOT on my side in this deal. Doctors make special deals with centers in their best interest, NOT mine. Like sales people, doctors make more by doing more volume with this center vs that center. Like my broker, they get paid more by selling one firm’s product over another. Or take a simple blood test. The median retail price in one place is $20 while the same test costs $443 in another. And what about life-saving insulin, up 1,700%? I can’t shop in India or China for insulin!

All these people make more than I do: https://www.amazon.com/Americas-Socialism-for-Rich-not-little-people/dp/1535218584

What can an annuity do for your retirement?

Congress wants to let the financial industry make a killing on annuity sales to retirees. Is this good for US as we retire at 10,000 per day? An annuity is a steady income for your lifetime. Insurers buy bonds with your money and dole it out to you monthly over time. You will receive less in buying power over time. Inflation takes HALF the value in 20 years. Insurers earn 1-3% depending on the type you buy. You receive a good deal if you live to be over 90. If you die before age 85, you lose. However, if you don’t feel comfortable using a 0.23% balanced (stock/bond) fund and having the fund firm send you a monthly check, this may be your best deal. A balanced fund earning over 8% a year can beat inflation over time. You keep your buying power and have a legacy too.

https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

What are the options to save for college?

A tax-advantaged account called ‘529’ is available through any financial firm. What are the alternatives to a 2% savings account? Investment options range from all stock to all bonds. The middle road, overweighted to bonds, seems to work best for the 15-20 year average time to accumulate. Some plans offer age-based options. Some states provide a tax deduction. Some plans are sold direct without commissions and some cost you more. Many states allow anyone to use their plan. Some states offer low-cost management. Usually you can invest whatever amount you like but $100 a month for 15 years could provide over $40,000 for school for young and old—any educational purpose.

Learn more: https://www.savingforcollege.com/college-savings-101

Give your child a leg up with money

Make sure you teach your kids how to create wealth the easy way. 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 buy low-cost insurance, two homes and 5 cars with higher down payments or cash. Now we receive $2,500 a monthly in retirement supplement.

     I found the advice of the smartest money manager of our time--Warren Buffett--is the best. It turns out his simple investing plan is best. Buffett: Panic is buy signal.

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

**********

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

Half the opioid pills were purchased by just 15% of the drugstores: 15 killing fields!

Trump confirms his ‘socialism for rich’: paying farmers more than if they produce soy!

Background checks are useless: OH shooter had 10,000 rounds to kill ½ Dayton

GOP McConnell helps USSR buy KY industry: ‘Moscow Mitch’ & ‘Mad Max’ Mnuchin

"He Has Gone Mad": Danish MPs On Trump's Reported Plan To Buy Greenland

SCAMS/SPINS:

Trump’s own construction crew are guys without papers: ICE doesn’t dare touch them.

Trump comments on FoxNews’ fake news comes true because USSR TV paid for it!

Trump says Clinton killed Trump’s buddy Epstein in prison of all places: Demented!

Trump: I saved steel industry with tariffs: “Steel was dead. Your business was dead,” now business is thriving.”

Trump plans to eliminate endangered animals: oil gas coal producers have won!

Trump:“Prices not up, no inflation. Farmers getting more than China would be spending”

Melania actually took home that El Paso survivor? Sick to use baby as photo prop

IRS lets advisors pull fees from the cash value of your annuity without you paying taxes.

Crypto currency scams on all social media: get-rich-quick is offer—get poor quick results

“We are worried,” Bank of America Merrill Lynch chief economist said. Panic buy signal

Steve Baptist caught taking commissions on trades in dead client accounts. New B-D.

Richard Duncan MA caught making Turkish scam on his clients: 100% return

Dawson James FL caught soliciting DoNotCall list: $20,000 fine but not ‘guilty’ plea.

Antonio Bravata started his second scam before he finished sentence for his first fraud Andy Gamber Voyager Financial caught fraud on disabled veterans: fine no firing squad

Craig Rumbaugh caught promising ‘safe’ real estate-backed returns Werth’s Ponzi

CA bans pesticide Trump defends: developmental neurological damage in humans.

Court: Trump must provide food, water, beds, toothbrush, soap just like Stalag 13.

Police Chiefs demand assault weapon ban: Congress & Trump in clutches of NRA!

Jobs

Civilian Spy: MicroSoft has employees and vendors listening in to your Skype, Cortana

Retire early? You are likely to experience bouts of anxiety and self-doubt. 

Physicists found new state of matter: increase storage quantum computer. Stream movie?

Physicists: temperature is property of quantum entanglements of ultracold atoms: Save E.

Who owns your account now?

Your old debt (past limit) can haunt you if you or collector makes a payment later.

SEC video about your advisor or broker: how to pick and how they get paid

Miracle:

Takes a miracle: Despite the news, even Pope’s letter, priests still abusing children. Jail?

Take a Miracle? Police lead black man on rope by horseback through town like past.

Save this spaceship: Troops with heatstroke double from 2008: EPA kills Bristol Bay life.

Angry neighbors turned nice: “Kindness goes such a long way. Gratitude goes such a long way.”

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

TIME creates wealth—the perfect present

This is the perfect birthday present for a young person. Because of the power of compound interest, you can start your loved one on the path to financial freedom that they will remember for a lifetime.
You can start small or large. You can establish an account for any person of any age. Even if they have not been born yet, you can lay the foundation for a better life.
The nice part is that you can do it easily and quickly.
You can start with as little as $100 by bank draft.
Fill out the application (download http://www.tiaa-cref.org/pdf/forms/mf-app.pdf) and send it to TIAA-CREF.org, one of the most secure pension providers.
Depending on the age of the recipient, you can be the owner with them and leave them the money as a transfer or they can be the owner from the start. If they have earned income, the ROTH IRA will add another 25% tax-FREE earnings to their retirement nest.
The point is to get them started with an equity index mutual fund early. Since this fund does not trade stocks, the tax bite is minimal. TIME creates wealth, not fast trading. As Warren Buffett, one of the world’s best investors, said,

“We continue to make more money when snoring than when active.”
berkshirehathaway.com

Look at what your gift can provide in the future because of compounding:

$100 is worth $10,000 later. $1,000 gets $100,000 and $10,000 gets $1,000,000.
If you start your gift early, providing $100 a month for 8 years before age 26, the child can have $36,000 at 30, $100,000 at 40, and $1 million at age 65. (http://www.saferchild.org/power.htm)

You can use this gift to help them go to college, start their life, buy a home, start a business, or just have as a basis for financial security later in life. You can structure it the way you want. When you or they take money out, the tax can be as low as 5% depending on the owner’s income level and type of account. See our FREE Guide: http://www.theinsidersguides.com/freeguide.html

They can use it later in life as a reserve to help them through a crisis or just to remember you as they spend it. Ether way, this reserve could provide wealth for life. What a perfect birthday present.