How much does it really cost
to invest?
Warren Buffett suggests we invest in two low-cost funds at Vanguard for
life. He thinks John Bogle, Vanguard founder, was right—low-cost investing
beats Wall Street advisors over the long term. Trading securities does not pay
unless you have insider information (which is illegal, except
for Congress). Bogle calculated that, over our investing lifetime, that
little 2% broker/advisor fee will erode 63
percent of what you would have had. As Bogle puts it, “the tyranny of
compounding costs” is overwhelming. Do the facts back up these claims? Buffett
bet $1 million on the Vanguard 500 Index and beat 5 hedge fund strategies
from 2008-2017. DALBAR tracks investments over time. They found that a simple
S&P 500 index fund earned 11% a year over time while the average equity
investor using a manager earned just 3.79%. “Cost
matters” as Bogle used to say.
Pay less; earn more: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963
Trump tax returns may not reveal his hidden tax avoidance schemes
Since the 70s, Trump has been paying accountants and lawyers to hide his
income and net worth for tax and negotiating reasons. With over 500 subsidiaries
and entities, his situation may be difficult to understand from tax returns.
He has been involved with foreign
entities and shady characters for many years. Trump
uses the alternate American tax system—the one designed for the wealthy. Tricks
and perhaps illegal financial practices have stumped his bankers and
auditors. His specialty is real estate which is one of the best
methods of avoiding income taxes. When you buy a building with a loan, you
can deduct from rents all the expenses and maintenance and ‘depreciation’—the
full cost the building can be used for years to provide tax-free cash. For
instance, in 1995, Trump
paid no tax on his income of $10,846,076 because he had ‘paper losses’ of $915,729,293.
That $ BILLION ‘paper loss’ would enable him to avoid
taxes for up to 18 years. Each entity can have ‘paper losses’ for years.
Plus Trump wrote off his loans for his bankrupt
casinos, resorts, and buildings. And Mr Christie, Gov of NJ, even cut his casino
taxes from $30 million to $5 million. Even his profitable golf firm in Westchester worth $50 million on some of his statements pays
taxes on only $1.4 million tax assessor’s value. Jared
has his own little tax avoidance gig going on too. He’s in on Dad’s
new tax scam.
We pay Trump’s taxes: https://www.amazon.com/Americas-Socialism-Only-little-people-pay/dp/1535218584
Is it too late to file taxes?
Before spending $200-400 for a paid preparer, try filling in the screens
using the IRS partners at irs.gov
https://apps.irs.gov/app/freeFile/.
The instructions are easy to follow especially if you have last year’s return
to compare what forms you need. I have found https://www.freetaxusa.com very easy to
negotiate and respond to email questions. This one charges only $15 for your
state return: Fed is free. It is still $15 when as complicated like mine.
Basically, you must pay tax on all your taxable income—wages, pensions, etc.
This year you have less to deduct because the standard deduction was doubled.
Beware some
software glitches. However, you lost the personal exemption of $4,050
for yourself, your spouse and each of your dependents. For each child
under age 17 you receive $2,000. In high property tax states—NY, NJ, CA, CT,
etc you will probably owe this year. The deduction cap is now $10,000 and the
average homeowners in these states pay about $20,000 property tax. The law was
written by a Rep from a Red
state.
Try software at irs.gov https://apps.irs.gov/app/freeFile/
before you go to paid preparers. Penalty
for underpayment modified this year. Get extension: https://www.irs.gov/forms-pubs/extension-of-time-to-file-your-tax-return.
Check the status of your fed refund: https://www.irs.gov/refunds
Use your tax refund to create a $1 million retirement fund
Michele had trouble saving. She seemed to always be waiting for her next
paycheck. She never had enough to save for a rainy day like her Mom did. She
used to make about $35,000 as a shop manager but with federal, social security,
Medicare and state taxes, unemployment, disability, and health insurance, she
was not able to put anything away for retirement. Years ago, her local tax
preparer suggested she use her tax refund to create a retirement fund. Usually
Michele would use her refund to pay bills or buy something special. The tax
preparer said that if she agreed to start an IRA with $2,000 of her refund, she
would be able to increase her refund--Uncle
Sam would help her save. The amount she invested would reduce her income
and make her refund larger. Each $2,000 would grow over time if she left it in
stock mutual funds in her IRA account. Over time, it can grow large enough that
she will have enough for
retirement.
A Plan for those who have NO 401k at work: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Are you driving the best car for under $30,000?
10
Most Comfortable Cars Under $30,000: Volkswagen Passat has one of the
roomiest back seats in its class. Kia Optima added a suite of driver assists as
standard equipment. Hyundai Sonata offers a wide range of models and
powertrains to match your budget. Buick Regal Sportback has liftback body in
addition to its upscale feel. Chevy Malibu
Save with insurance discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
Is Medicare for All
right for you?
Medicare
is not socialized medicine. Socialized medicine is where the government
owns the hospitals, owns the labs, owns the MRI and CT machines, and all the
doctors and support staff are on the government payroll. That’s not what
Medicare is. In our current political fight, some GOP are using old fears of Russian-style
‘socialism’ to discredit the discussion of finding a more effective system of
medical car and payment in America. Medicare pays for the high-cost end-of-life
expenses and high-cost chronic conditions. Yet, users pay only $135.50 a month
from their SS benefits. For-profit plans cost over $400 a month if you can find
one in your state. Medicare is national: You pay $185 per year in 2019 for
your Part B deductible.
After your deductible is met, you typically pay 20% of the Medicare-approved
amount for most doctor services. Some buy an Supplement for these. Your hospital
coverage (Part A) is usually free. If you have not paid for Part A during
your working life and you buy Part A, you'll pay up to $437 each month. Part
C pays for drugs and costs vary depending on your needs. Congress could change
the law and negotiate the costs for all of us so our costs are in line with all
the other countries in the world. Some pay 50% less than we do for US drugs.
The reason we do not have Medicare for All now is simply money. The clerk at my
for-profit health insurer decides which procedures and care I receive. The
company CEO
makes more bonus if the clerk excludes some treatments and procedures. My
doctor and I have little to say in it. Lobbyists get $160 Million to tell
Congress: “NO MedicareForAll”
Did you know your mutual funds make money even when the fees are ZERO?
When you invest in a fund, the manager buys your share of the stocks in
your fund. For the Vanguard 500
Index Warren Buffett recommends, it owns shares of the top 500 companies.
Because most investors are earning 11% a year over time, the stocks in your
fund are held a long time. Your fund then loans the stocks out to other
institutions that need them temporarily for a rental fee. This
fee is what allows most funds to charge 0.04% or less. If your fund has
millions of shares, they can make a lot more than your fees. So fees are
falling and some are charging ZERO. However, depending on your agreement, you
may be giving up your information and perhaps good service. So you may find
‘free’ is not really true. Some firms could start charging you after they get
your money. Some could start using your information or selling it to target you
for sales of other expensive products. Best
Robo-Advisor is low-cost and unbiased advisor.
**************
Truth isn’t truth, his
lawyer says
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Trump having a hard time finding the kids
he wrenched from families: Cost $1 Billion
Trump told border agents to stop entry; close border: supervisors
said ‘no’, follow law!
Violates own oath of office to uphold
constitution and laws of US. Dictator orders illegal
SCAMS/SPINS:
Scott Klor caught
involved in life insurance scheme not reported to firm. Fine no jail.
Law about Trump’s taxes
is ignored by GOP, DOJ, Treasury, IRS. Trump
above the law?
Wall
funding reduces armed forces readiness: Pentagon shifts from regular needs.
Trump
projects his USSR involvement on Dems: “Treason” when disagree on WALL?
Advertising agency
Publicis employee sues
Fidelity for 401k overcharging/kickbacks.
Financial crisis
from corporate
leveraged loans: Trump gutted regs learned 2007-8.
Richard Booy IL caught Ponzi $2
million from seniors promised guaranteed returns.
Senior Safe Act: Money
advisors can help stop scammers by reporting abnormal acts.
BEWARE: 95%
Of Bitcoin Trading Volume Is Fake—‘pump and dump’ is it’s normal
Anthem Health caught
overcharging
employees 401k records and funds. Fine, no jail.
Hedge
fund has large returns but doesn’t pay taxes: how the other half lives
Elder
joint brace scammers caught stealing $1 Billion from our Medicare fund
TX
wants to kill a woman if she has an abortion: Nazis go legal in TX.
Famous
Black Hole in universe where nothing can escape except radiation around it.
Trump
blames Obama for putting kids in cages: he claims he stopped it! INSANITY
Mueller
ignores Mob Boss family Russia
deals: OK to conspire
with enemy & obstruct!
1. “Russia Russia Russia
The Mob Boss can never go to jail: Trump
has Kava as Supreme so no indictment.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes
protect Don’s ‘Orders’? – GOP: ‘Sure, pres
can change
Constitution anytime.’
Jobs:
Ex-Pope blames
society for child abuse: ‘seminaries
filled with “homosexual cliques.”’
Who owns your account now?
Ameriprise
Financial Auto & Home to American Family
Wells
Fargo’s retirement plan services to Principal Financial Group
First time home
buyers: Look
before you leap to be successful at BIGGEST buy!
Foresters
Financial to Cetera
Miracle:
Opioid
antidote can save addicts from death: tests continue.
Woman
has bees living in her EYE: Miracle they were alive and so is woman.
7-11
store owner caught teen stealing food: not arrested—Mr Singh fed the
hungry.
IAN
41 Watchung Plaza,
B242
973.746.2014
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