Your Unbiased Advisor: legal will

Showing posts with label legal will. Show all posts

Friday, June 19, 2020

Having a hard time sticking with your allocations?

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

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

Is a private equity 401k account right for you?

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

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

Is this summer the time for a new vehicle?

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

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

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

Chevrolet Camaro

Jeep Wrangler

Alfa Romeo Giulia

Volkswagen Atlas

Volkswagen Tiguan

Acura MDX

Tesla Model X

Chrysler Pacifica

Chevrolet Traverse

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

Did automation and simple options save your retirement fund?

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

Do you really need a will?

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

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

Should you work one more year?

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

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

Wealthy get another bailout from US taxpayers

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

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

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

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

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

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

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

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

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

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

Mobster gets China to hack Nov election results

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

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

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

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

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

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

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

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

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

SCAMS/SPINS:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Finally, drug price-fixing/gauging investigated by states

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

Fake gov grants to seniors: scammers use virus fears

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

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

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

Jobs

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

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

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

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

Who owns your account now?

Get forgiveness: revised EZ Paycheck Protection Program loan forgiveness application

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

Miracle:

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

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

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

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

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

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

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

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

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, February 15, 2019

Refunds are smaller: We’re paying for Jared’s refund!

Trump’s gift to his wealthy friends and companies will cost each working person more. Tax refunds are running 8% less this year because Trump cut deductions for working people as well as property and state taxes. He added 6 more Schedules to file taxes so he could claim you can use ‘postcard’ 1040. It’s NO postcard and preparers charge by the page. Twitter is filling up with complaints from people whose situation has changed radically. A nurse got $1,000 less and nothing changed in the filing. Another person owes $2400 instead of ‘good refund.’ Others made less last year but owe $5,000. We were promised a ‘middle class tax break’ in October. “We are giving a middle-income tax reduction of about 10 percent,” Trump told reporters. "We're doing it now for middle-income people. This is not for businesses. It's for middle." Trump lied again. Compared to 2017 rates, some taxpayers would pay more tax in 2018, even more in 2025, and HALF will pay more in 2027 according to Tax Policy Center. We are paying more because Trump, Jared and friends are paying less or $0 taxes. Instead of creating jobs, the corporations are buying back their stock for larger dividends.

Stop paying rich people’s taxes: https://www.amazon.com/Your-Hidden-Wealth-Reserve-Reduce-Taxes/dp/1540435148

Why do we taxpayers give welfare to profitable companies?

U.S. Steel's 2018 profits shot up to $1.12 billion. Gary IN put US Steel on welfare of $ 47 millions (city and state offered the firm a $47 million tax break package.). IN gave US Steel $10 million in tax credits, along with $2 million in worker training grants. There is no guarantee how many jobs are saved. Gary has already given Steel a property tax break estimated at $35 million over 25 years. Instead of making a jobs commitment to Gary, Steel used the benefits to buy back $300 million of its own stock. This benefits the owners not the workers and certainly not the city or state. Trump’s tariffs on foreign steel don’t help a firm with high-cost steel. Steel re-hired 800 in Granite City. Gary got a worse deal than that at Carrier which Trump boosted. A study of tax breaks on the state’s public finances in the last decade found that state incentives costing about $30,000 per job provided little benefit to Indiana’s economy or tax base. In New York, Amazon quit. Amazon does NOT need incentives—Bezos is rich already. Federal/state funds would be better spent on infrastructure jobs for now. Retraining and apprenticeship programs would help future workers. Funds for corporate Welfare could be for Medicare for All.

Trump extends American Socialism: https://www.amazon.com/Americas-Socialism-Rich-only-little-people-pay/dp/1535218584

Maybe you don’t need a will

Less than 20% of us have the 3 essentials. The folks who have assets usually have them. If you don’t have one maybe you don’t need one. Most financial accounts already specify who gets what. Usually an IRA, pension and brokerage accounts have beneficiary designations. The institution responds to the ‘bene’ on the account agreement not the will. If a home is held jointly it is owned by the survivor. A will is useful to the executor so that you can make sure your wishes are done, like the spouse without a license does NOT get the car. Many children fight over assets but having a will probably ends the discussion. Your possessions may not be needed by the kids and need to be given or carted away. Think about church or charities you want to support. Depending on how long you live a will usually has to be updated periodically. Perhaps that is another reason most us don’t have one. Some people won’t make one because they believe it brings on death. Some others don’t prepare for final expenses for the same reason. Some don’t want to leave a thing to certain family members.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Our work-place benefits are changing—new choices

Some employers are discovering that the old formula for worker satisfaction has changed. Since the age of the workforce may now span 50 years, everyone wants something different. Younger workers may want flex hours. Older workers may want great health care and more retirement fund matching. One size does NOT fit all. Listening to worker needs can lead to packages designed for each group. Some employers help with the student loans. Others fund disaster relief or paid parental leave. Everyone likes choice and employers must pay attention to keeping the workers they have since the market is tight. Chose a tax-FREE or tax-Deferred future.

Choose best savings plan: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

What Trump destroyed, each state is reinstating to protect us

MD is the latest state to adopt the Fiduciary Rule to protect us from unscrupulous money grubbers. Under the legislation, fiduciaries are required to act in the best interest of their clients, without regard to financial or other interests of the person or firm providing the advice. Seems like common sense but Trump killed the Obama law in his first year. The financial industry wants no limits on its ability to sell products that are NOT the best for us. Recently the Consumer Financial Protection Bureau appointee wanted to scrap a lending rule meant to guard the most vulnerable Americans. Payday lenders could go back to charging 400% interest on temporary loans that end up nagging borrowers for many years. State legislators now realize we need protection from the ‘money changers.’

Protect yourself: https://www.amazon.com/Fiduciary-Rule-BEST-dont-lose-anymore/dp/1530980275

Did you tell your child how to retire early?

Tax-FREE wealth! We did not have this option when I started working. Today, if you show your young adult that they can accumulate enough tax-FREE money, they could work and then enjoy life without the grind. The hard part is explaining that it takes time. The tax-FREE account has been around since 1997 and I was lucky my boss told me about it in the 2000s. This account can be set up at any financial firm and in many it costs nothing: No lawyer or broker is required. Using the low cost mutual funds recommended by Warren Buffett, it takes just 25 years to accumulate $3/4 million using $500 a month. It takes 30 years to hit $1.4 million—TAX-FREE. Your kin does nothing else—no trading, no broker fees, no market-timing. Automatic investing means they can’t fail. Teach on. Tax-FREE means they will have 25% MORE to live on. $0 Fed/state taxes.

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

Are no commission ETF index funds right for you?

In the race to recapture revenue from going to Vanguard, the for-profit firms Schwab and Fidelity are try to win us back by removing the commission. ETFs are index funds chosen by management to keep us invested in securities. You can trade 503 ETFs in 79 Morningstar categories (for example, large value stocks). Fidelity matched this explosion at the same time. But do we need 500 choices? The assumption is that we know what will happen in the future and will buy the right ETF. Like everyone who gambles, we are encouraged to place our bets on the favorite of the day. This delusion has caused many ‘investors’ to earn less than the buy and hold strategy. DALBAR, the firm that keeps track of returns, shows us that most of us earn only 3.79% when a simple 500 index fund earns over 11% a year over time. If that sounds like old fashion news, a recent study shows index funds hold more money than the funds run by ‘wise men.’ More investors are learning why Warren Buffett recently won his bet on the 500 Index over 5 hedge fund strategies. Trading and fees rob us of the Miracle of Compounding. John Bogle founder of Vanguard told us that trading and fees can take up to 63% of our possible accumulations over time.

Use the Miracle of Compounding not ETFs: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

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Make

~~America~~

, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions? quetiapine and clozapine

Truth isn’t truth, his lawyer says

I, Trump, have a new idea for a parade, fireworks on July 4th

Two

Americas

: A Banana Republic? Do we really want an infant king? Daddy Putin!

Can’t understand why unpaid workers (slaves) need food banks

Is this our

America

? Forced off bus to prove citizenship; ICE says papers are fake

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

WALL not needed in El Paso, Mr Prez: safer than your WH town. Washington DC

CA National Guard goes home: NO crisis on border—must be in Washington.

50,000 refugees in camps guarded by soldiers: separated children—Is this America?

Hydro power plant told to use coal instead of renewable so Trump funder gets profit.

Veterans who fought for our country were deported: Dems bring them back as heros!

SCAMS/SPINS:

2 Supremes lied about upholding previously decided law: how Supremes kill our laws.

Senate passes bill declaring lynching as hate crime—it took 200 years: Will Trump sign?

5 for-profit firms control health for over 125 million Americans: Cost going up or down?

Drug firms claim their high costs are needed for new drugs: actually we pay for them.

ObamaCare still provides health care to silent poor despite Trump’s evil intent.

Jared’s investment failure bailed out by Qatar: now Trump owes

Qatar

big time.

Trump tariff sending more farmers into bankruptcy: Trump helping corporate farms grow

IRS pursues fewer cases of tax evasion than it did less than 10 years ago. Rich get richer.

Clive Bundy still owes US $1 million for fees and penalties: No jail so guns beat Feds.

Ford 150 recalled: downshift to 1^st automatically at high speed—1.5 million 2011-13.

Toyota airbag recalled: shrapnel explosion in high humidity—70,000 2002-5; 23 dead.

BEWARE: Dyson vacs called unreliable by Consumer Reports. Half are pricy ‘garbage.’

Kestra Investment, TX, caught overcharging 3,205 clients $1.6 million: Fine, no jail

BEWARE: Advisors claim signs of recession but no proof—balanced funds for long haul

Brent Borland NY caught fraud in Belize airport investment scam—jail time.

William Husel Mt Carmel OH caught giving excessive fentanyl doses: 16 deaths’ suits!

We have a history of separating kids from parents? Fear of the next group wins elections.

“Individual 1” could be a Russian “asset”: Why FBI opened a file on The Mob Boss.

Trump has done what Putin wants: EXIT NATO, IRAN, SYRIA, INF Treaty, AFGAN.

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:

Retail jobs require us to learn a new language in order to sell to young customers.

Rep Jones, NC, regrets he did not do his job and tell Cheney NO to Iraq war BS.

Rand Paul won $ ½ million by piling his yard debris near neighbor: Next Job?

Who owns your account now?

Future of long-term care policies is uncertain as prices goes up. Alternatives

Check with the mechanic of your plane BEFORE you get aboard. Any skipped steps?

Medicare for All 1^st step—50 year olds can buy Medicare in advance.

Car insurers discount for drivers who drive less than 250 mi a day: tracking device.

Michael Avenatti has trouble: The Don must have a new Cohen. One less challenger.

Miracle:

The Beautiful Poetry of Donald Trump?

https://play.google.com/store/books/details?id=8ou9DgAAQBAJ&gl

Protestant clergy admit abuse of women & kids. Some evil-doers still at it. Hell on earth!

Brain cancer killed by our own immune system using new trigger drugs—trials positive.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, October 12, 2018

Which tax-advantaged account is best?

IRA postpones your income tax until age 70.5 Roth IRA allows after-tax income to grow with no tax ever. Which is best for you? Clearly, if you begin with your first job, say age 20, you can end up with a lot more if you invest in stocks with no taxes. The long-term growth of your low-cost stock index fund is 10-12%. Assuming you invest $250 a month for 50 years, you will have over $6.5 million. Of course inflation will reduce that to about $2 million in today’s value. But $2 million tax-free is worth another 22% because you avoid income taxes. You spend all the money. Traditional 401ks and IRAs let you avoid taxes now but your income is lower now so it hurts less. Plus as the deficit gets larger income taxes will only go up. Unless you have your legal tax avoidance strategy, we working folks will pay for it. If you have IRAs already, you can convert part of them as you go paying taxes as you can afford it.

Start now: https://www.amazon.com/Build-Your-Tax-FREE-Wealth-Reserve/dp/1456505041

How do you save for the future?

Only 14% of all employers offer a 401(k) or defined contribution plan to their workers. That 14% includes a huge swath of small employers with fewer than ten employees, according to 2017 research from the U.S. Census Bureau. Among the 1,825 employers surveyed by Transamerica, 1,512 companies employed 10 or more people and 72% offered a 401(k) or similar plan. So if you do not have a tax-advantaged plan at work, what can you use to save for the future? As with a 401k, you can have your contributions go automatically to your tax-advantaged account. This makes saving a ‘no brainer’—the trustee of your account makes the investments for you. In fact, with certain mutual fund trustee companies, you can avoid the high-cost funds your employer may offer. And you can choose to have your savings avoid taxes now or later when you retire. And you save without a brokerage fee—you buy directly from the largest providers of employer plans. You don’t need a salesperson since you are using Warren Buffett’s advice.

https://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157

Your legal will doesn’t tell where most of your assets go

When we die, most of our money goes to those NOT specified in our will. That’s right, all of our common documents: life insurance policies, bank accounts, brokerage firm accounts, retirement accounts, and home go to those designated in the documents years ago. Better check them NOW before you die and the wrong folks get your money.That is why many people don’t have a will. Some assets like your home, bank accounts and brokerage accounts are held jointly. In fact, brokerage accounts are titled joint tenants with right of survivorship (JTWROS). When one co-owner dies, the survivor inherits. Life insurance and retirement accounts have a primary beneficiary or many prime ‘benes.’ If that person or entity is not around, the ‘contingent’ inherits. The money does NOT go to those named in the will. Retirement accounts have complicated rules after the owner’s death. The IRS has a book on it: https://www.irs.gov/pub/irs-pdf/p590b.pdf

https://www.amazon.com/Ensure-Your-Financial-Health-with-Wealth/dp/1466388293

Tax law changes mean check NOW before 2019

Trump’s new tax breaks for the rich mean you need to take advantage of what you can before the end of the year. For instance, if you must take an RMD by year-end and you don’t get to itemize anymore, you can use the qualified charitable distribution (QCD) provision and make your contribution directly from your IRA and still take the tax benefit as a reduction of income. This could put you in a lower tax bracket. A Roth conversion gets money out of your IRA but it must be done by year’s end. The conversion taxes this year may save you future tax headaches. Converting when your taxes are low means no tax when your nest egg grows huge. For your business, check the effect a conversion of a Roth might have on the new 20% deduction for qualified business income. You can avoid your tax due in April (possible penalty) if you have withholding taken from your year-end RMD distribution. You also avoid the 4 quarter estimated payment burden.

Take advantage of Trump’s Tax Shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Are you moving money to try to time the end of the Bull?

Legendary investor Peter Lynch said: Far more money has been lost by investors trying to anticipate corrections, than has been lost in the corrections themselves.” Those who exited the markets in 2007-8 are unhappy they missed the run so far. Depending on where you are in your retirement saving or spending, you should “take the fork in the road”: do both. Instead of trying to time the market, own the whole thing—growth and income stocks and bonds. How? Take Warren Buffett’s advice: His advice when the future is NOT certain: ‘buy hold’ 2 low-cost funds. No timing, trading, sector rotation, no BS.

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

Younger generation does not need financial industry any more

Survey respondents were risk averse and skeptical of the financial planning and investment industries in a survey of 1,000 affluent millennials with at least $50,000 in net worth or $100,000 in annual income. Why? Affluent millennials are still most likely to be do-it-yourself investors, with 35% claiming that they make all their own financial decisions without any help or advice. Another 27% said they consult financial professionals for affirmation, but continue to make their own decisions. Only 15% of affluent millennials retain a professional money manager. According to the survey, 77% view the financial system as rigged to favor the rich and powerful at the expense of ordinary people like them. Millennials also don’t trust recommendations from advisors working on commission: 80% said that they were suspicious of the commission revenue model in the financial services industry. Things have changed since I was at firm—good!

Use a better way: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023

Manage your money stress easily

You getting nickel d and dime d at your bank? Consider $0 fees at a Credit union. $0 fees require you to plan purchases so there is no panic at the unexpected. You can learn to manage money without the stress. No sweat money is now being taught to bank employees because they have to give customers confidence. Once you know what your plan is—how much to save, invest, spend, charge on credit, and hold as reserve, you can make decisions without the stress. Leah learned to manage her own money by living on a small income in New York City. When money obligations are tight, she learned to plan ahead—get money at the bank in advance so no ATM fees. Use the free services by smart phone. Put money aside in time for special expenses like courses. She learned that credit cards are the convenient way to fall into the debt hole that’s hard to climb out of.

Personal finance made easy: https://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408

How much does that 401k LOAN really cost?

40% of 401(k) plan participants have taken advantage of a loan to finance their current consumption. Approximately 10% of 401(k) loans default each year on average. That means $ TRILLIONS lost in potential future retirement money. Everyone needs emergency money in a hurry and we don’t all qualify for a loan. However, we usually don’t calculate what we are giving up when we take money from our future. A $20,000 loan from your retirement account means you will have $400,000 (stock fund) less 30 years later when you need it. If you are smart and pay it back within 10 years, you still will have about $150,000 in 20 years. But that is a huge bite out of your future--$20,000 now costs you $250,000 later. You may have to work longer when you don’t want to. Also business is changing so fast, you may not be able to work. https://www.bankrate.com/personal-finance/smart-money/easy-ways-to-discover-extra-cash

Find another alternative: https://www.nerdwallet.com/blog/loans/quick-ways-to-borrow-money/

Grieving spouse—what this woman learned in re-making her life

Many spouses have no firm hold on family finances so when the money-conscious spouse passes, there is a crisis. “There were dozens of little things concerning our finances that we never discussed.” Life happens and all of a sudden, you have no idea how to deal. A lawyer can’t help you find passwords or legal paperwork in your home. Do you know what happens to your credit and ownership accounts? Can you answer the 10 steps for spouse questions?

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

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