Showing posts with label medicare for all. Show all posts
Showing posts with label medicare for all. Show all posts

Friday, April 12, 2019

How much does it really cost to invest?


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.

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.

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.

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. 

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 has exterior style to go along with its comfortable interior. Subaru Legacy Outback offers the rugged good looks in a useful wagon body style and dependable all-wheel drive. Nissan has answered critics of bland styling with an all-new Altima. Toyota Camry’s great resale and dependability make this comfortable 4-door sedan a contender. Solid handling, low ownership costs and high resale value all add up to a winning formula in the Honda Accord. Chevy Impala has plenty of room front and rear and stellar infotainment. Save up to 40% on a 3-year old model: quality and VALUE.  

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.





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Make America, “The Don”, Great Again
Truth isn’t truth, his lawyer says

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

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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.

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.

Elder joint brace scammers caught stealing $1 Billion from our Medicare fund

Most of us will live longer: Your-Plan-Live-Age-100/dp/1548180793
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
1. “Russia, find Hill’s emails” 2. Don’s Mob made Russian deals 3. Russia intel tricked voters 4. Polling data payoff 5. Special Russia deals 6. Fire FBI 7. Refuse give testimony

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.

Jobs:
Why people don’t vote: Reps get to Wash--subsidize largest corporations Boeing GM etc

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! 

Miracle:


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
Montclair, NJ   07042
973.746.2014
Alerts 

Friday, January 4, 2019

Save $3,000 this year on financials for a brighter tomorrow


Save $3,000 this year on financials for a brighter tomorrow
My future nest egg is always my concern at the start of a year. Where can I find a permanent $3,000 a year to increase my future Wealth Reserve? I use my tax refund. I shop for lower car, house and liability insurance. I ask for a better price on my phone, TV and Internet deal. Yesterday I bought stamps for the year because the price is going from 50 to 55 cents—that’s 10% Mr Trump! This doesn’t save much but it is the principle I value. I told the clerk Allan that we will just mail fewer cards if he keeps raising prices. I will buy more soup this week as it is on sale—10 for $8.99. I already stopped my life insurance, annuity, accident and disability at work. We dropped TurboTax in favor of FreeTaxUSA. We shifted to gas from electric appliances. The largest cut was in moving all our high-rate debts to a HELOC at 3.49%. Our student loan interest is still deductible so we kept that. We gave up our brokerage account and non-Vanguard mutual funds and moved them all to Vanguard for their lower Admiral expense rate averaging 0.11%. We have moved most of our money to the lower end with 500 Index and Wellesley Income funds. Our brokerage and non-Vanguard funds cost over 1% or $2,500 a year. We bought stocks on sale in December for future gains.
We estimate adding another $150,000 to our Wealth Reserve over time: https://www.amazon.com/Build-Wealth-Without-Extra-Money/dp/1448677505

Check ALL your tax credits
2018 was first year of the new Trump tax rules. Don’t leave it up to your preparer to find all your credits. Use the Trump administration as your guide to pay less. Find your tax credits and pay Zero tax like Jared. One year, The Don had $916 million tax LOSS on paper so he paid NO taxes for up to 18 years. If you have any kind of business, take his new 20% pass-thru deduction against your income. Other deductions/credits include education, medical, savings, electric cars, child, etc. Trump had the IRS create 6 new Schedules so that he could boast that he made the ‘post card’ tax return. HE LIED. Truth is he just created more paper. 1040 looks like the old EZ-1040 which is eliminated. Now with more schedules and worksheets, a middle-income joint return will be over 25 pages up from 15. Since most preparers use a software package, the winners are the paid preparers who charge by the page. Our average cost is now $250-300. The least expensive way to file is to use the IRS approved preparers at Free File. Some have no income limits: File advanced and simple federal taxes for free.

Another way you and I can’t avoid taxes like the wealthy do
When you are really wealthy, you can hide some of your assets and gains inside an insurance policy. For non-taxable income you use policy loans. Athletes, celebrities, and family offices are embracing private placement life insurance to avoid taxes and create a family legacy. Investments that produce earnings taxed as regular income are the best candidates to put in these policies. For insurers, these multi-million dollar contracts carry reduced fees justified by size. 0.7% on $3 million is worth more than 1.5% on $ ½ million normal life. All gains on the $3,000,000 are tax free. The Treasury estimated in October that it will lose about $166 billion over the next decade by not taxing insured death benefits. One tax shelter is available to avoid paying the taxes the wealthy avoid.

Is your company the best place to save for retirement?
“They did everyone dirty,” said Kilby Baker, 70, a retired warehouse worker whose pension check was cut by about 25 percent after Marsh Supermarkets withdrew from the pension. The owners got all their money back in the bankruptcy—taking the workers’ pensions  with them. Even a large business like Marsh fell victim to private equity buy-outs. Maybe using your firm’s 401k isn’t so smart after all. Unless your company is providing a contribution match, an IRA with low-cost funds may be a smarter move. An IRA can provide tax-deferred savings with direct debit from your checking account. Your trustee does the investing for you by using a low-cost Target Date fund or broad stock fund. You can reduce the income that gets taxed just like a 401k. You avoid the plan fees charged by some 401k administrators. You use the investment strategy recommended by Warren Buffett. Your IRA is protected from your firm and your personal creditors. You avoid your company stealing your money. Sears pensioners may be next.



Why are retirement plans failing most of us?
When we change jobs, almost HALF of us cash out our retirement funds. Most of us have no savings to tide us over to the next job so we spend our ‘future’ security. Cashing out is possibly the single most harmful decision to achieving a financially secure retirement that an employee can make — next to not contributing at all. The penalty and back taxes are the least of the problem. About 22% of active and contributed defined-contribution participants will change jobs each year. Of these job changers, Retirement Clearinghouse reports some 41% will cash out their retirement plan. We give up $250,000 or more by not allowing our money to compound in a low-cost stock fund. Based on the average stock market (S&P 500) earnings of 11% a year, our $25,000 cash out could have grown to $1 million if we had just left it alone for 40 years. Even at $12,500, our cash out would grow to $247,967 in 30 years at 10% even if we never added another dime. As Warren Buffett said: “My wealth has come from a combination of living in America, some lucky genes, and compound interest.” It is compounding over time that makes wealth.

McConnell’s GOP calls for cuts in our Social Security and Medicare
Now that the Dems own the House, GOP is worried about paying for the WALL and the tax breaks and $17 Trillion debt so they want Dems to be blamed for cuts. We can avoid the cuts by using a legal tax shelter for working people. We can avoid paying for some of this huge overspending by putting our retirement money in an IRS-approved tax shelter. We then avoid tax on the money and the earnings after age 59 ½. We don’t need a lawyer or offshore account to avoid the future taxes and cuts in SS and Medicare. We can rely on our compounded earnings. $3,000 a year goes into the account over time and $1,000,000 comes out tax FREE. We spend it all with no increased taxes. SS benefits get reduced in 2034 so we need a supplement. We avoid paying for the tax breaks for the rich too.

How did you do in 2018?
Our clients use Vanguard funds to maintain a broad diversified portfolio which has provided over 11% total returns for years. 2018 was negative 7.7%--not as bad as some years like 2008 not as good as others like 2013. Since the overall market has produced a steady 10-12% over any 10 year period, we consider it the safest place for our long-term funds. Even in retirement, our clients are counting on equities to maintain a higher return than the alternatives. Above all, we consider low-cost in any investment to be key. Our clients have learned over time that neither moving in and out of the market nor putting money in hot topics has worked out well for them. There is no guarantee for the future but inflation requires more than a bank CD.

2018 Total Return Fund                    Long-term Return Longevity
-4.4%              500 Index                     10.7%* since 1976
-17.1%            Energy              9.8% since 1984
-9.4%              Extended Market          10.2% since 1987
1.2%                Health                          16.0% since 1984
-12.7%            International Growth     10.1% since 1981
-1.9%              PRIMECAP                 13.4% since 1984
-9.3%              Small Cap Index           10.4% since 1960
-2.6%              Wellesley Income         9.6% since 1970
-12.5%            Windsor                       11.0% since 1958
-8.9%              Windsor II                    10.2% since 1985
-7.7%                                                  Average 11.1%
*Average Annual Returns as of 12/31/18.

They are not bored by holding Vanguard’s Top Ten:


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Make America, “The Don”, Great Again
Truth isn’t truth, his lawyer


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


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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 
Exiting lawmakers become high-priced lobbyists to steal money from us for their firms.
GOP leaves dirty work of fixing gov to Dems—spending to help worker-citizens.
Trump scraps Obama oil-train brakes so more spills more likely to occur. Penny wise …


SCAMS/SPINS:
WealthFront & Hedgeable caught making false statements/fake adverts etc
Comcast caught overcharging & underperforming; fraud on equipment and cards.
Fraud rampant on theme of bogus requests for funds from your relatives/firms/lottery.


Summit Equities NJ caught mishandled personal information selling to 3rd party.

WellsFargo to stop charging for insurance customers did not order or want.
WellsFargo caught foreclosing on homeowner they should have helped.
Mutual Omaha caught overcharging its own employees for 401k plan.

BEWARE: Cardless ATM may cost more than they are worth. No cards, no drivers, no -?

As promised: Don could kill someone on 5th Ave--not lose voters: 33% say 4 more years.
The Don lies to the troops too. Real fake news: “10% pay raise” is BS. Con the military?
Trump is dishonest and immoral according to generals. Some would not work for him.

Con Man still claims Mexico will pay for the WALL but insists on $5.6 B to save face



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.
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Jobs:
Hiring remains strong despite Wall Street: Those who gave up are coming back.

Who owns your account now?
Tired of high-price tax prep plans: import data to FreeTaxUSA and pay just 12.95 state.

Miracle:
7 year old has found homes for 1,400 abandoned dogs: OK, everyone can do 1 good turn!




IAN
41 Watchung Plaza, B242
Montclair, NJ   07042
973.746.2014
Alerts

Friday, September 14, 2018

How is your 401k?


How is your 401k?
Fidelity published the average balance by age. Each of us is at different financial stages so averages don’t mean much. Most of us have SS benefits to add to our total. The average benefit today is $1,342 a month which will increase by a COLA if Congress passes an increase each year. The average monthly income that could be produced from the balance for a 65 year old ($200,000) is about $700 a month in today’s purchasing power. Unless we plan on receiving a pension of sorts or working longer, $2,000 a month from each spouse may not be enough. Plus, we all know that you can never have too much. We need to consider how we can improve our situation with tax-FREE savings. This parking lot attendant did it by following his Mom’s advice.

Why are wages the same as in 1985?
Inflation over the last 40 years has left most of us with the same Buying Power as of 1985 down from 1968. What happened? Automation and technology have left many jobs on the ‘shop floor.’ In 1985, as manager of about 40 people, I oversaw the computerization project of our entire process. My 4 assistants could make decisions immediately from weekly reports that told us what was happening (and wasn’t). Within 10 years, every change or entry made by now 20 staff since those in the field entered data once on a network computer and not reentered by my office staff. In my next job, I got the suppliers of our products to make the data entry. They streamlined the process so there were no more paper copies of customer contracts to be signed or filed. In my next job, most of the data entry was by the customer and by scanning bar codes. I no longer had a receptionist/secretary. I could run meetings and consult with direct reports by phone anytime day (or night, in a pinch). Meanwhile, my salary and bonus were doubled and my boss’ quadrupled. Today CEOs have compensation 500 times that of line workers—up 1,279%. The value we created per person using machines provided gains for senior execs and stockholders. Buying Power wages have not changed. We work 2 jobs.

Can we afford NOT to have Medicare for All?
The rate of bankruptcy has increased 204% since 1991 often because of health care costs. This 87 year old is going to be in the truck next to you in order to pay his wife’s medical bills. Is this what we want to do in retirement? There is enough money in America to pay for health care! It’s just sitting in the accounts of the top 10% fellow Americans trying to pay as little tax as possible. For instance, some of the Billionaires are paying only 17% total tax—about HALF the amount of the middle-class worker. Mitt Romney and John Kerry paid less than 15%. Most of the highest net worth Americans are paying a fortune to lawyers to reduce the amount they pay every year—using legal and illegal means. The IRS just gave the wealthy with money overseas a discount on their taxes if they declare with the Offshore Voluntary Disclosure Program. Trump and the GOP have proposed letting the wealthy delay paying the RMD tax. They allowed “junk” insurance to be sold which is cheap because it does not cover all expenses. The GOP continues to pay socialized supports to the oil gas agriculture and mining industries. So America can afford it if we chose: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584


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.

Wealthy take a dive into CLO again: mortgage loan disaster taught us nothing!
The superrich pouring $ millions into collateralized loan obligation. CLOs means possible bank failure again. They are after the possible double-digit returns. But dissenters have raised questions about whether the frenetic pace of sales is spurring reckless behavior just as the prospect of an economic downturn looms over an increasingly leveraged corporate America. Yes, history could repeat itself when you transform riskier company loans into bonds of varying risk and reward and then promote them with “every smart rich person owns them.” One promoter says “you only have issues if … you have losses.” Yes! These sub-investment-grade rating loans are mixed with equity so they may pay better if you wait. Returns on CLO equity can range from 12% to a remarkable 20%, standing out in credit markets where corporate bonds have delivered little or negative returns this year. Banks think they understand the risks just like last time. Remember we taxpayers had to bail them out—even foreign banks—and that makes bankers ‘adventure’ capitalists for FEES.
Protect your investments in a tax-FREE trust: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

We are paying an extra $14 billion a year in broker fees thanks to Trump
New report compares the fees we pay under Obama’s vs Trump’s fiduciary rules. The report examines the stock prices of 36 publicly traded brokerage, mutual fund and life insurance companies, finding they lost a total $14 billion in value as a direct result of the Obama fiduciary rule. It mandated that sellers offer the ‘best’ product to retirement account clients. “The profitability and value of investment firms is reduced by the inability to collect conflict-of-interest fees." In other words, firms did not receive $14 B in fees from us on our money during the Obama period. Obama saved us about $17 billions a year. This was mainly annuity commissions which are definitely NOT products in your BEST interest but in the firm’s best interest. Firms have plenty of costs that must be passed on to us one way or another. 

Will you owe tax penalty in 2019?
Trump’s new law is effective in 2018. If your property tax or state income tax is over $10,000, you are going to owe more because you can’t deduct these taxes anymore. If you are used to deducting employee expenses and 9 others, you may also owe. The IRS notice 182 says you may have a penalty if you owe more than $1,000 next April. Individuals, including sole proprietors, partners and S corporation shareholders, may need to pay quarterly installments of estimated tax unless you owe less than $1,000 when you file your tax return or you had no tax liability in the prior year. Other taxpayers who may need to make estimated payments include someone who:
  • has more than one job but doesn’t have each employer withhold taxes.
  • is self-employed.
  • is an independent contractor.
  • is a representative of a direct-sales or in-home-sales company.
  • participates in sharing economy activities where they are not working as employees.
Make estimated payment by Sept 17 with Form 1040-ES page 11.

Insurers want to put annuities into 401k for more fees
Pro: They argue that annuities are the “only savings vehicle that carry a guaranteed, contracted, lifetime income stream, outside of Social Security and pension benefits.” Con: 401k accounts already delay taxes on the gains. Annuities costs are high compared to the alternative—IRA which also delays taxes. The IRS already mandates a lifetime income stream. It is called an RMD calculated by your IRA trustee who doesn’t charge for this service. IRAs are protected from creditors like annuities. The guaranteed benefit misses the point of having income for life. The income is usually cut in half because of inflation. You may begin with $1,000 a month at age 65 but it will buy HALF the goods you need by age 85. 401k accounts are run by your employer meeting certain fiduciary standards. Annuities are not. To guarantee a lifetime income stream is a process best left to an experienced planner over time so you can make adjustments to your investment mix as needed. Annuities protect insurers not you.

Where is your increased income?
Census says: Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans. The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less. But the nerds say median income last year was not statistically different from 1999 or 2007. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars. Here is the rub: “The extra pay from having another person in the home working is the largest factor contributing to the increase in income.” Our wages did not go up! We are just working more hours. Americans living in official poverty stayed at over 12%. Remember, earned income is the Gross number not cash in pocket. Our health care costs went up. Fewer people can afford a house or rent because property costs have ballooned. Young people with school loans went back home since they can’t afford the basics of family life. And the worst is yet to come: Who will pay for the $1.3 Trillion deficit this year? Not the wealthy! Most of the tax breaks mean they will pay less in the future: $21.3 Trillion.



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Make America, “The Don”, Great Again

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

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SCAMS/SPINS:
Don’t fall asleep in class: Student got tasered for falling asleep in class in Smithville OH
Drug companies say hospitals jack up prices of drugs in hospital 500%. Hospitals say …

MyPillow told to stop making false claims for his stuff. Fine $1 million; still false claims.


How is 2,975 dead in Puerto Rico an "incredible unsung success"? Trump takes $10 mil.

SII caught failing to supervise sales of high fee illiquid real estate investment trusts. 
Barry Honig & others caught in microcap “pump-and-dump” schemes taking $27 million
Edward Daniel lost license after 41 years: unsuitable investments 2011 and 2015.

Luke Eddy MA caught impersonating client and forging her signature.

Market timing is back in vogue: Stock sellers like August trading for a change.
Emil Botvinnik Jovannie Aquino caught trading $3.6 mil client loss --$4.6 mil fees.

GPB Capital Holdings illiquid private placements investigation by MA: 4,000 at risk.
FUTURE INCOME PAYMENTS sued for claim “not a loan” when are loans hi interest
Jeffery J Kelly caught failure give docs re: unethical behavior so barred from industry

Health care scams double: low-cost Trump plans offered—premiums buy no coverage.
SS scam: fake SS official asks for info or tells you to send gift card to reopen account


TX cop kills neighbor in home—I thought I was home. Door Keys? Wrong Floor?

               police shoot owner who already shot intruder. Kids will have plastic killer guns?

Jobs:
Prepare for a good job: 25 jobs trending to $100,000 plus
Health care hires thousands per week as more in Medicare plus new procedures
Work at home scam or real gig? 10 jobs to try for experience and money.

Ford cancels production move from China to US: no profits on Focus built here.
Poll: 2/3 people think automation will eliminate jobs for ordinary folks soon.  
How many more decorated national security officials alienated by Trump?

Who owns your account now?
Ohio National stops selling annuities: "It's a declining market," expert says.
Home or Rent: A challenge and the duplex solution.
Retirement accounts target of cyber crime: protect your account.

ACA in WV provided health account for 189,000 uninsured: don’t know its ObamaCare


Miracle:
Ruby slippers located in FBI sting: $1 million insurance finder’s fee.

Uninsured for health falls again from 48.6 million to 28.3 million Americans

IAN
41 Watchung Plaza, B242
Montclair ,  NJ   07042
973.746.2014
Alerts