Your Unbiased Advisor: long-term care

Showing posts with label long-term care. Show all posts

Friday, January 27, 2023

Use Buffett's SIMPLE strategy

$1,000,000 retirement fund from contributions of $250 a month

Keeping your contributions in a low-cost tax-FREE account is the easiest way to make sure you have enough for retirement income for life. The contributions of $250 a month must be steady (automatic investing). You must avoid any advisor charges, stock picking or trading. Your best investment option for your long-term goal is a low-cost stock-market index since you own shares in the largest 500 US companies. Most are profitable for extended time periods. They have already proved their successful products/services. You are using the Warren Buffett strategy of compounding your earnings over time. His advice may seem simplistic but he has proven it works for investors who recognize that there is no advisor or strategy that is better at achieving long-term goals. Wall Street firms and advisors/brokers must take your earnings in order to survive. You pay less so you earn more: it is that simple. Wall Street costs a lot to run and most personnel don’t take a cut when they fail. This chart says it all: Over time, owning the 500 largest equities at cost provides on average 11% per annum. Over time, your $102,000 total contributions compound TEN times to over $1 million. It is time IN the market not market timing that defines a successful strategy. Use a long-term strategy for a long-term goal.

https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

Where is your portfolio as market gains 3% in 2023?

Is your advisor waiting to re-enter the market? Sometimes market jumps are huge and if you are not in it, you lose. It may take time to recover the 20% drop but you won’t be able to if you are sitting in cash. Buffett has said that we should not bet against the US economy. In the past, stock market lows are followed by market highs. A low-cost balanced portfolio will help you stay in the money over time. Fast trading, market sector rotation and momentum are usually poor long-term strategies. No one knows the future so gambling will mean more losses than gains. You don’t need the expense of advisors since you pay even when they lose your money. Take Buffett’s advice.

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

How much do you give up by investing through an advisor?

One analyst has estimated that over time, you give up 63% of your eventual total return by using “professionals” who claim they can improve your money management. However, they must sell expensive products and charge fees to stay employed by their firms. Financial firms are in the business of transferring your money to theirs. You pay every quarter or every transaction no matter how well or poorly your account does. But most folks don’t even know they pay costs. Because of 2022 negative returns more of us are changing advisors. But advisors could not predict the bond fallout or the equity downburst. We are more likely to need a psychologist to handle our expectations. We panic because we think of our security accounts as bank accounts. If we consider investing in companies as a partner in good businesses, we would not panic during a global pandemic. For long-term investors, there is no better asset class than equity indexes. This chart says it all: Over time, owning the 500 largest equities at cost provides 11% per annum. Buffett proved it: Vanguard 500 Index beat 6 hedge funds.

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

The most important financial lesson to live by

“My wealth has come from a combination of living in America, some lucky genes, and compound interest.” Warren Buffett, one of the greatest investors of all time, credits compounding as a source of his financial success. Most of us have never heard of this in high school or college. Financial firms that charge us for promising to “manage” our money, have convinced us the Buffett’s strategy of “buy and hold” securities, allowing compounding to work, does not work. They claim they can help us meet our money goals. Perhaps in the short term they can sometimes. However, the price we pay in lost time in the market compounding our returns can never be made up. Dalbar tracks the total return of different assets “managed” by advisors vs just holding the indexes provides us with the evidence that Buffett is right. For instance, investing $250 a month over 10 years or longer time periods in a low-cost large stock index compounds to $54,700 vs only $36,500 if managed by a “professional” money manager. Since most investor don’t understand the cost benefits of compounding a “buy and hold” index fund account, they end up with only $167,700 vs $707,000 after 30 years of investing a total of $90,000. That is the power of compounding in the low-cost market index rate fund.

Learn: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

How to have $ million dollars tax-FREE for retirement income

The simplest way to end up with an adequate retirement income is to follow Warren Buffett’s strategy. You don’t have to pay Mr Buffett for his advice—he is not a broker or advisor. He does not write hypotheses for a Wall Street firm. He does not change his advice on which stocks to buy from month to month. He proved his strategy by betting and winning against 5 hedge fund gurus. He says buy low-cost Vanguard funds for your retirement. Since most of us can only invest once a month, if we contribute $250 a month to a special tax-FREE account, we can end up with $1,000,000 in 34 years. Since this account allows us to take the money out without income taxes, we will have more to spend in order to overcome the drag of inflation and advisor/broker costs. He recommends funding a retirement account directly by avoiding Wall Street entirely. You can earn more by paying less and allowing the Miracle of Compounding to work a miracle on your money. A low-cost account allows us to invest just $102,000 total over 34 years and end up with TEN times your investment. No advisor/broker can accomplish that Miracle. Confirm how this happens without an advisor/broker picking stocks, buying and selling, charging when they lose money. Check it: set the 34 years from 1989 to 2022 in this annual market rate calculator using the 11% average annual return.

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

What to do when your long-term care policy premiums triple

Insurance companies used a number of bad assumptions or tricks when they sold you the policy over 10 years ago. Recently, almost everyone’s premium has skyrocketed. The state regulators (funded by the insurers) have rubber stamped almost all rate hikes. If you are stuck, the insurer will cover their mistakes by reminding you that you signed a disclosure that protects them from any responsibility. Ask the company what your options are. 1. Pay the increase like every insurance policy. 2. Reduce the years of cover since the average stay is under 8 months. 3. Reduce the daily benefit instead of any inflation-protection benefits. 4. Reduce the years of cover for the male since most females will live longer. 5. Reduce the benefits with a paid-up policy. 6. Take a cash buyout if offered. Add this cash to a low-cost well-run balanced mutual fund like Vanguard’s Wellesley Income Fund. Since most policies are used to pay in-home care giving services, you may have enough funds from other sources to pay for help at home. Medicare covers rehab costs after a hospital admittance. Remember very few people need expensive long-term care in a facility. Add the amount of premiums to your retirement account since most of us won’t use a policy but we will need help sometimes.

https://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X

Retiree plan changes

Medicare can negotiate drug prices. In 2025, no enrollee will be required to pay more than $2,000 out of pocket per year. RMD age requirement moves from age 72 to age 73, starting on January 1, 2023 then to 75 in 2033. More time to compound earnings. You may start taking RMDs earlier and for a higher amount. The bill also allows higher “catch-up” contributions. Benefits of Medicare and Social Security are left in jeopardy since the wealthy Congress and their constituencies do not wish to shore up retirement needs for the future. House GOP has made it clear it will cut programs for the poor and middle class in favor of tax cuts for the rich, business subsidies and war spending. The current economic downturn will be overcome by more layoffs and higher prices, not by taxing the wealthy, GOP says. Most unbiased analysts favor using other resources before starting RMD withdrawals. Since Congress has not tried to fix the under funding of Social Security or Medicare, we must invest for the coming SS shortfall in 2034. Find your previous employer’s retirement plan assets at https://unclaimedretirementbenefits.com/

Boost retirement income: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224/

?**********ACCOUNTABILITY**************?

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

The Path to Dictatorship: 2010-2030

Parallels of this era in the past may hint at our future: democracy breaks apart legally

Jan 21 2010 Corporations’ election-spending unlimited

Billionaires paid $881 million for votes in 2022 midterm elections

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 was “detached from reality”

Trump used mafia-style intimidation on the defenseless

Trump still terrorizing election woman

Parscale: “a sitting president asking for civil war.”

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

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

January 6, 2021 “A date which will live in infamy”

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: Two Americas

Trump: President Biden is 'enemy of the state'

Christian Nationalist Party (CNP) replaces GOP

Nov 8 2022 Trump’s “national revolution” failed

Nov 15 2022 Trump announces for 2024 to avoid lawsuits

Dec 3 2022 Trump: cancel Constitution rules so ‘I win’

Jan 2025 Dictator pardons himself: his Supremes agree

How Govt wastes our money:

The Cost of Extreme Wealth: 200 millionaires want taxes; not bleed SS Medicare folks

Coal-oil-farm-Boeing-corporate offshoring subsidies raise deficit: middle class pays more

Many corporations fix their tax rates to 0%: 2 sets of books. friends in Congress get paid

Former senior FBI official accused of working for Russian: who can we trust?

GOP puts Greene plus omicron deniers (Dem’s hoax) on Pandemic Committee: US doom

GOP leader reinstated to hate, misinformation networks: dictator has his megaphone back

SCAMS/SPINS:

WW III begun: Blitzkrieg on Putin is what Germany feared: only US knows Abrams

Eleven of 17 House committee chairmen voted for end democracy: "big lie" supporters

2022 tax changes: Congress removes benefits from Covid era

Don’t File Your Taxes Until You Have These 7 Things

GOP leader tells his followers NOT to cut SS and Medicare: Trump warns

AZ GOP legislators curb transparency of their own gov business dealings: hide mistakes

What ‘freedom’ means for GOP extremists: I do what I want: F..k everyone else

Self-appointed militia (not National Guard) guilty of trying to overthrow our government

Despite the mass killings recently, Americans, their kids chose guns to solve their problems

More than 1 in 10 older folks live in poverty: 10.3% in 2021 and rising

Luxury hotels post fake online reviews to compete: who can you trust?

Tmobile 37 million customers’ addresses, phone numbers dates of birth hacked: “no problem”

6 year old shooter “acute disability” able to avoid school search: all shooter “disabled”?

Tells of a used car from a flood: carpet, moist spare, door sill, etc

Ford recalls 462,000 vehicles camera failure

Hackers: Online and mobile advertising is complex, murky business: our data is theirs

Environmental Charity Scams: emotional appeals best for taking our money

Lobbyists given $millions change TX law allowing casino gambling: Abbott, Patrick pd.

Celebrities probably know nothing about the products they endorse: not evil just greedy

Santos wooed investors for alleged Ponzi scheme: Harbor City FL brokerage

Binance moved $346 mln for seized crypto exchange Bitzlato

21% of respondents did not think that they paid any fees on their investments

Doesn’t matter what the motive is for mass murder: semi auto guns not for hunts but kills

Jobs

New Hiring Trends Job Seekers Should Be Aware Of

Who owns your account now?

Credit card bonus offers plus no interest for a year or two.

SS survivor’s benefits: only a third of those who lost a spouse applied for benefits

Best free backup software: check specs

“Impossible” to hack blockchain crypto systems are hacked: you lose money

Securian Financial's Wealth Unit to Cetera: 1,000 staff; 30 independent firms

According to the IRS, almost 90% of taxpayers use the standard deduction.

Miracles:

Ancient Roman concrete give the material self-healing capabilities: fix bridges/roads

Active military tried to overthrow gov despite swear to defend Constitution

BEWARE: ChatGPT says it takes 9 women 1 month to make a baby

An ant’s sense of smell is so strong, it can sniff out cancer

6 ways to slow memory decline and lower dementia risk

Local NJ residents organize to stop book ban by conservatives: FL makes it felony

Brazil using Ap to help end hunger’s large number of families

Our Universe is Mind-Blowing

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

I don’t think that there is any such thing as a position or a velocity of a particle.

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

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 a little

Energy into matter: scientists converted light energy directly into matter in one step

Physics Nobel Prize: “entanglement” 2 particles share info instantly at a distance

“It may be that gravity and quantum mechanics are exactly the same thing,” Leonard Susskind

Gravity might induce the collapse of quantum vibrations into 1 quantum state—our world

There is no TIME at this level because of force fields come and go in all directions.

Universe expanding: events may not come together like they did before.

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

Gold made from neutron stars: collisions produce more neutrons:79 protons,118 neutrons

The proton is so complicated science still finds new energy entities/forces every year.

“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.

The electricity we use comes from the field around the wire not from election itself.

Scientists build 'baby' wormhole as sci-fi moves closer to fact: inside quantum computer

starts-with-a-bang/universe-expansion-not-accelerating/

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

http://www.theinsidersguides.com/

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

Friday, September 21, 2018

Deduct the full cost of your ride!

Can you deduct the full cost of your ride?

The recent changes to the tax code are giving business executives a new perk: the opportunity to deduct the entirety of a corporate-jet purchase. “That is a major change. Before, buyers of new planes could generally deduct at least 50% of the cost of an aircraft in the first year. Buyers of used airplanes had to take those deductions more slowly. Marcus Adolfsson, [CEO of online tech] publisher Mobile Nations, bought a used Embraer Phenom 100 for just under $2 million at the end of December, right as the new tax law was going into effect. The rule allowing owners to deduct 100% on used equipment was retroactive to late September … Mr. Adolfsson, a CEO and licensed pilot in St. Petersburg, Fla., has used his jet to skip the hassle of commercial flights, flying to New York to meet with advertising partners and taking jaunts to Miami and Winnipeg to visit his remote employees. He lovingly compares the plane to a minivan: less sexy than some smaller planes, but a comfortable time saver. ‘It’s kind of my office on the road,’ he said, adding that he can lease it out for $1,300 an hour when he isn’t using it.”

Avoid paying the taxes these jet owners don’t pay: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Another tax from your take-home pay

Americans spend tens of billions of dollars on government-run lotteries each year. But as income inequality widens, low-earning households spend a disproportionate amount of money on lottery tickets. The lowest-income households in the U.S. on average spend $412 annually on lottery tickets, which is nearly four times the $105 a year spent by the highest-earning households, according to Bankrate.com. Americans making less than $30,000 a year are most likely to buy multiple lottery tickets each week. We are putting ourselves in debt—more bankruptcies than 10 years ago—in an effort to escape our economic crisis. Our economic situation hit a wall in the 1970s-1980s. Now the state licensed on-line gambling which can only make matters worse.

Help your child avoid the crisis: https://www.amazon.com/Where-can-your-child-invest-$100/dp/1492164240

Coins with no value continue to make sure you lose your money

Crypto money has outdone the dot-com bubble burst in 2000. You are guaranteed to lose because you didn’t buy when this pretend money was 1 cent. Because crypto is just computer blip, it is easy to steal. Some exchanges may be operating illegally. Lesson: buy low sell high or just go to the casino. You would be better off in the gambling game—NOT as player but as an owner. For instance, Wynn Resorts stock returned 98% so far. At least they are real and have value to some. Gambling will always be with us but you are better off as owner than participant in a bubble. Or start your own currency for a true losing game. Alternative: own part of successful companies; leverage compounding.

https://www.amazon.com/Personal-Finance-Smarties-Not-Dummies/dp/1469973030

Are home equity loans still deductible?

The IRS said that taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labeled. The Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan. Under the new law, for example, interest on a home equity loan used to build an addition to an existing home is typically deductible, while interest on the same loan used to pay personal living expenses, such as credit card debts, is not. As under prior law, the loan must be secured by the taxpayer’s main home or second home (known as a qualified residence), not exceed the cost of the home and meet other requirements. One of the criminal charges on Manafort was that he lied on mortgage loan. Many foreigners get caught because they use questionable money to buy property and then mortgage it so it is ‘clean’ money to live on. The questionable money is not taxed and using a loan for income is also not taxed.

Use a legit tax-shelter: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

What to do when your life insurance premium balloons?

Policy owners of universal life insurance are suing insurers for raising the premium on policies sold in the 1980s and 1990s. Insurers offered an attractive guaranteed minimum interest rate to policyholders of about 4%-5%, experts said, supported by higher interest rates. But the returns on bonds have been lower. Plaintiffs claim that insurers raised costs to make up for bad bets on interest rates. Insurers claim the increases are warranted, due to things such as mortality conditions that increase the frequency of claims they have to pay. However, people are living longer not shorter and extra costs are the insurers’ responsibility. Insurers have tripled CEO pay over the past 35 years. Your options: reduce death benefit, take surrender value, pay more, and ask your carrier if your policy has other options.

Do you need it: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178

Is a deductible co-pay LTC policy right for you?

Since prices have been rising and current owners of these products keep getting premium increases, you might guess that this ‘new’ coverage from NY Life is too late to the party. Yes, boomers are getting older and on paper, there is a huge unfilled need. However, this coverage has a deductible and a 20% coinsurance to lower the cost. Policy benefit caps mean that you could easily run out of benefits. To sweeten the deal, you can earn a dividend. If you don’t need it, there is no refund.

Compare alternatives: https://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X

Is a ‘Retirement’ bond right for you?

The retirement bond would not pay back the principal; instead, after 20 years, it would become more like a deferred annuity paying a stable, secure income—but investors would get more bang for their buck. Martellini says the retirement bonds could be offered as transparent, low-cost products that are easier to get out of than a typical income annuity. Someone five years from retirement today, a 61-year-old, would be buying 2023 retirement bonds. The bonds would start paying cash in 2023, and continue paying for 20 years. If launched, the new retirement bonds could be offered in lieu of bonds or annuities to investors.

Is your 401k may be robbing you blind?

M&T Bank workers’ lawsuit challenges high fee, poor performing proprietary mutual funds in the bank’s 401(k) plan. Many other lawsuits against financial companies have accused employers of adding affiliated, high-fee, poorly performing funds in 401(k) plans at their workers’ expense. Some employers have had to settle: Deutsche Bank ($21.9 million), American Airlines Group Inc. ($22 million), Allianz SE ($12 million), TIAA ($5 million), New York Life Insurance Co. ($3 million), and Principal Life Insurance Co. ($3 million).

Keep your money safe: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Should Congress force employers to offer high-cost annuities?

All the big annuity insurers are greening Congress to make it legal and easier to put their products in your retirement plans. Hoping to cash in on all the retiring workers of

America

, insurers are calling their products a “boost to Americans' retirement security through greater access to products that provide guaranteed lifetime income in retirement." What most of our Reps don’t know is that we could give up over 50% of our retirement dollars to fees, costs, and charges built into the contracts. Every year insurers take 2-3% of your total nest egg. That could be $3-5,000 a year. Sure, annuities are secure and can provide ‘guaranteed’ income. However, over time the purchasing power of the income is cut in half--$1,000 a month benefit becomes $500. Unlike Social Security, most plans don’t raise the income to keep up with inflation. And when interest rates go up, you will want to cancel the contract for a higher income. Then surrender charges apply.

Check alternatives: https://www.amazon.com/Combo-Annuity-Guaranteed-Income-Growth/dp/1493572237

Wealthy buying into companies directly: skip the hedge fund commissions

The superrich have invested in businesses directly for a long time. One of the oldest direct investments has been real estate. Family money built the malls, the department stores and commercial buildings directly. Many billionaires have been rewarded by purchasing shares in Warren Buffett’s firm Berkshire Hathaway 40 years ago. The wealthy are now envious of those who bought early in Uber Airbnb etc. They want the prestige of being the early investors. This requires understanding the risk/reward of direct investing. They think they are smarter and can save on the costs. And so can you with the help of industry insiders. However, if you are NOT connected to an insider, you might want to follow Warren Buffett and John Bogle advice about investing.

Buy direct and cut your fees: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Who is taking our money on Wall Street

This is the AVERAGE: $422,500 up 13% in 2017. They hired only 1700 last year—keeping more for the owners like the Johnson family. Automation has eliminated most of those who actually work on ‘Wall Street.’ My job and staff in the ‘back office’ are gone. In 1988, I automated the variable annuity sales process so no need for this staff. All the profits from my and other areas went to senior management who went out and bankrupted the firm. The profits came from the fees, ‘haircuts’ and kickbacks from the money Wall Street clients give to the sales people. Sales people earn an average of $47,000. The guys you see in the pictures of the exchange make even less. If you are trading or paying 2% for your account and products, you are giving up 63% of your potential earnings to the owners. Money management is the 2^nd oldest con. The top 1% own 25% of everything of value in US just like 1920s. We started losing ground in 1980.

Stop paying for what you are NOT getting: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Are donor advised funds right for you?

DAFs are the Internal Revenue Code Section 501(c)(3) philanthropic accounts established at a public charity. They allow donations of cash, property, appreciated assets and more—and donors receive immediate tax deductions. The DAF legally controls the money from the point of donation. Subsequently, donors can advise regarding specific charities that should receive donations. Generally, the DAF follows the donor’s advice. Plus, DAFs offer the option of completely anonymous donation. Despite fast growth and unique advantages, DAFs have recently come under increasing scrutiny and criticism. Among the concerns are a lack of transparency and potential conflicts of interest for financial institutions that offer the funds while earning fees for their investment management. Besides financial institutions, DAFs are housed at more than 700 community foundations in cities across the country.

You can make your assets tax-free too: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

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

Make

~~America~~

, “The Don”, Great Again

Senile Psychosis

Two

Americas

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

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

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

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

Trump spent 33% more than he did last year: $895 billion more than brought in.

Corporate tax receipts fell 30 percent in the past 11 months: CEO & shareholder benefit

Pentagon wants more money to ‘fight’ Russia and China etc—no more SS; Medicare?

Trump raises prices by 10% in trade war. We pay for his war and we vote in Nov.

Conservatives give up principles and spend $ 854 Billions we don’t have.

SCAMS/SPINS:

Tamara Steele IN did not disclose 18% commissions on risky stock to clients

Capital Analysts PA put clients in high-fee fund shares inside wrap account. 2x fees

J Laura A Sichenzio W Gil de Rubio caught fraud oil processing $3.7 million securities

Peter Mallouk KS caught making illegal adverts; ethics violations; trades not reported

Ernest J. Romer MI stole $2.7 million promised better return; used fake firm.

Kevin Merrill Jay Ledford Cameron Jezierski caught ponzi--returns from fake debt resale

World Tree indicted on fraud using “cherry-picking” scheme: keep good trades.

Hedge funds are raising fees as their portfolios shrink—owners still want their fees.

Florence scams: fake investment opportunities fake charity; corporate paid promoters.

Hot pot stocks like Tilray are new gamblers choice. Make sure you get out in time.

Who else earns $ billions from our high-cost drugs: Middlepeople of course!

Coke going back to its roots with marijuana instead of cocaine. cocaine-free by 1929.

Ultrasonic pest repellers don’t work as marketed

WV library refused to carry ‘Fear’ out of political fear … of The Don’s mob?

TX removes Helen Keller from social studies class; more religion less accountability

Mass killings are twice as deadly with semi auto rifle as handgun. Unsafe in own home.

----------------------------------

Trump is finally fighting cyber war with cyber: Target

Russia

, N Korea,

China

likely.

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Jobs:

Dayton OH used to make cash registers & Home of Aviation, now what?

Jobs are not hard to find; living-wage jobs are hard to find.

Borrow a tie and case for a good impression free at your library

Credit score affects your job options: Protect it 5 ways.

Who owns your account now?

The 70 yr old Beetle is killed by VW in favor of Porsche SUV? [SUV by Porsche?]

TIME mag sold to Salesforce

Hurricane strategy: those with actual cash not card can but gas and food till electricity on.

Nestlé’s Gerber Life to Western & Southern Financial (annuities)

Miracle:

One man drove into Florence to save 53 dogs and 11 cats and then back again next day!

Hospital assn, always short of generic drugs, decides to make their own

Anti-Muslim mayor actually talks to Muslims and admits fear of unknown drives bigots.

IAN

41 Watchung Plaza, B242

Montclair , NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, September 7, 2018

Claim ALL your SS benefits?

Did you claim ALL your SS benefits?

Even though changes were made in 2015, spouses can still receive benefits based on the primary earner’s work history. The spouse must be 62 years of age and the primary earner must be receiving Social Security benefits, according to the Social Security Administration. The spouse is entitled to half of the amount the primary earner is receiving. In general, both the primary earner and the spouse receive more money from Social Security the longer they wait to receive benefits. Social Security benefits grow each month that the recipient delays taking the benefits. A person waiting until the maximum age of 70 to claim benefits will receive approximately 8 percent more for each year he or she delays payments after the age of 62. That can make a difference later on especially if your family genes point to a longer life. One person in a close family took benefits at age 62 and one at age 70. Big difference for life: $1514 vs 2854 per month. Since both of them are still working after age 70 ½, they pay more taxes now than they did before because SS benefits are taxable to 85% AND they both must take out IRA withdrawals, called RMDs. RMDs are taxable too since IRA money was never taxed.

https://www.amazon.com/What-do-with-your-RMD-much-spend/dp/1718946716

Can large companies create affordable health care?

As Comcast, Amazon, JPMorgan and Berkshire Hathaway redesign care for their employees, can they save us all from for-profit insurers? No one is happy with current escalating costs and poor services and lack of essential cost information. Insurers don’t want to share data or even our own ongoing medical history. For most people, it is impossible to decipher their companies’ own care options—small co-pay, high deductible, lower premium, HMO, PPO etc. It takes a MBA and insurance consultant to find the plan that is best for our family. Comcast created their own financial wellness firm to assist employees to make smart choices. This is more important now that Trump promotes junk insurance that can bankrupt us for lack of comprehensive coverage. Some Dems think Medicare for All is the answer.

Buy only comprehensive care: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Trump gives brokers more fees from us; wealthy get another tax cut

Trump wants to give advisors more fees for IRA and 401k accounts. Our deficit will balloon even more since the wealthy will be allowed to avoid paying taxes on their tax- deferred retirement money longer. Retirement savers must start withdrawing funds from these accounts when they turn 70-and-a-half. Allowing them to stay invested longer also preserves the assets under management advisors manage and AUM fees they charge. Some advisors report that their clients pay the tax due and reinvest the cash they don’t need now. However, if you are still working at age 70 ½ you can leave your 401k or other pension alone. You don’t need to pay tax until you retire. “Often times, these clients would prefer not to get taxed either because their income is very high or they would prefer to keep this money tax deferred for the next generation.” Trump’s rule change would mean less govt revenue, higher deficits, greater interest owed by those left to pay taxes. This creates an even larger cliff that most Americans will face in 10 years.

Avoid taxes like the wealthy: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

How can you avoid SCAMS in financial services?

Wall Street is a ‘war’ zone! We must enter this war zone with the protection of knowledge. We could lose all our lifelong savings in one trade. Brokers and advisors have weapons that can 'kill' us financially. They are hidden behind lies, exaggerations, obfuscations and straight-out fraud like faking our signature. Half-truths and our assumptions and greed are also at play. These are our 'soft' underbelly targets. There are warning signs but most SCAM situations require us to be knowledgeable and to check every move. My first day as a manager at a security firm I was told: ‘brokers are [car] salesman.’ Our future life is at stake and yet we give strangers our money so easily.

Take Buffett’s advice: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender-ebook/dp/B07GZ1WSP1/

Old ways the wealthy avoid taxes that we have to pay for them

The wealthy can make their wealth last with ‘creative’ planning so that the kids and grandkids get richer without taxes ever being paid. We have to pay for the courts, police, military, roads, airports, etc. the rich use but don’t pay for. We taxpayers help pay for their kids and grand kids yachts and properties. By way of a simple example, let’s look at a hypothetical $100-million estate. Let’s say that the investment returns for this estate, whether due to superior management or luck, are 8 percent, rather than the 7 percent market return. That extra 1 percent of return adds up to $1 million before taxes in any given year. Even if the estate doubles the market’s 7 percent return, it’s only earned $7 million in alpha. In contrast, if the family plans their estate effectively and avoids transfer tax, the savings will leave the family more than $30 million ahead. Try earning $30 million through excess performance is almost impossible. The best estate planning advisors use tools like recapitalization of businesses, freezes, discounts, and transfers into generation-skipping trusts to help protect family wealth. Effective planning can lead to an exponential advantage in family wealth over time.

Avoid paying for their estate taxes: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Are the ‘new’ fixed indexed annuities right for you?

Sales of fixed ‘indexed’ annuities hit a record $17.6 billion up 17% over 2016. Just like legalizing sports betting in New Jersey, getting rid of the rule to "do what is best for the client" lowers the barriers to exploiting the folks who can least afford it. Essentially, New Jersey just raised taxes on citizens who can least afford them. Advisors say "guaranteed income for life” and “your principal will never decline even when the stock market does." But you know those statements are false. There are caps, participation rates and other contract limits so insurers don't lose money. And those limits don't go away when interest rates go up and CDs start paying 5-6% again.

You know about the time value of money: a fixed annuity payment is worth HALF in 20 years when most people will need it most because their costs will have DOUBLED. Example: $100,000 in fixed annuity pays $559/mo at age 65 now. Inflation 3% for 20 years raised price of gas from $1.06 (1998) to $2.837 (AAA). Your real "guaranteed income for life" will be worth $280/mo—Half Buying Power. Also, the real VALUE of your "principal will never decline" is reduced by 40-50% because of inflation. Insurers use these false statements because they sound right to folks who have no business or finance experience. Yes, you can put your money in a savings account so you won't lose money in the market but you lose over time including the lifespan of most annuities, even ‘indexed’ ones. The index doesn’t help much. Popular with brokers doesn't mean indexed annuities are the ‘best’ for us. It just means sales people don't have to follow the Fiduciary Rules. There are just too many caveats to annuities and most sellers themselves don't even understand them. Most people are better off with a ladder of CDs for safety. Or take Mr Buffett's advice for his family: Buy two Vanguard funds for the long term. Most unbiased advisors say: If you can afford an annuity, you can afford to do without them.

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

Are pre-retirees driven by FEAR

Interesting response from one client after they went through the retirement planning process and finding they have enough money to last to age 95: "We need to save more money." This is an example of what I hear from many retirees--they are so used to saving and running on FEAR that they will end up as 'bag lady' syndrome, they can't enjoy their money. Even with 'proof' using a Monte Carlo market risk test, that says they have done a good job for retirement, they can't shake it. Our emotions take over our rational mind.

We need 'therapy' with a financial therapist since we don't know the future and FEAR drives us. I think the financial press pushes the same message. 'You must do this because ...[a fear statement like SS runs out of money by 2034 or market correction can drop 40% of your portfolio] is all we hear on TV and from Wall Street ‘professionals.’

We need to get a retirement plan in writing: https://www.amazon.com/Financial-Future-Insurance-mutual-funds/dp/149355204X

Is Final Expense insurance right for you?

This kind of insurance does not require an exam so it is expensive. It covers those who know they are sick or terminal. One firm the does TV adverts wants $111.20 a month for $15,000 benefit (after 2 year waiting period). This policy could pay a relative for anything from funeral and last minute medical bills to a party. There are no restrictions on the beneficiary. However, consider alternatives like a pay-on-death POD savings account at your bank which probably has no insurance company expenses. $111.20 a month, $1,333.40 a year for male age 70 means that at the expected time of death, age 85; your beneficiary will have over $25,000 (3% https://www.bankrate.com/landing/cd-rates). If you have some money now, you can leave more with CD rates rising (3.53%). If you qualify for no exam term insurance of $20,000, you could pay $82.90 a month. This no exam insurance is usually for those who have no assets. Most people have an emergency fund or IRA that can take care of expenses as long as they are properly titled. IRAs go directly to the beneficially—no probate needed. Finally, you could just ignore their debts (you are not obliged to pay their debts) if they donated their body to science.

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

Can you take the 20% business deduction?

The Qualified Business Income Deduction is a new tax regulation that will impact small business owners. If you own a pass-through entity—sole proprietorship, partnership, limited liability company, or S corporation—you may be eligible for a new tax deduction. It is a significant tax reduction for business owners who qualify for it. But it isn’t simple because numerous limitations and acronyms come into play. Here is a brief introduction to the qualified business income deduction. As usual see your tax preparer.

The Don giveth and taketh away: 10 deductions you can’t use: Entertainment, Loss Carryback, Losses, Transport Fringe, Relocating, Certain Gains, Domestic Production, Some Settlements, High Interest.

Pay your fair share: https://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

Can you still afford your long-term care policy?

Genworth Financial announced that regulators in 22 states had approved a quarterly weighted average rate increase of 58% for some of its long-term-care insurance policies. Unfortunately, such LTC price hikes have become the norm in the industry in recent years. In fact, Genworth, which has the nation's most LTC insurance policyholders, had already raised premiums by 28% in each of the past two years—and other LTC insurance carriers have applied for similar increases. You may not be able to afford your contract. "Genworth has lost $2.9 billion cumulatively in our long-term-care insurance business on our older policies, due to higher than expected claims costs," a rep said. But why should you have to pay for their mistakes in pricing—like bait and switch. They knew disability and longevity stats and insurers have always paid for the state regulators. Many of them worked for the insurers and are sympathetic. What do you do now?

Convert or quit? https://www.amazon.com/Long-term-Care-Insurance-Updated/dp/148274001X