Your Unbiased Advisor: millionaire congress

Showing posts with label millionaire congress. Show all posts

Friday, August 27, 2021

Make your grandchild a millionaire

If you are wealthy or they have time to accumulate wealth, you can help them have enough money to do what they really want to do. 1^st case: give each grandchild $15,000 a year with no gift tax. A custody or cash account with your stock mutual fund can become a $million in 20 years. 2^nd case: give each grandchild $250 a month using automatic investment from your bank account. A custody or cash account with your stock mutual fund can become a $million in 35 years. If they convert their account to a Roth IRA the account earnings will become tax-FREE when they take the money out.

Gift of a lifetime: https://www.amazon.com/Give-your-Grandchild-1000000-Lifetime/dp/1456433105/

Can Congress complete the Social Security stabilization for us?

The SS Trustees Report says that we will have our SS benefits cut by 25% in 2034—just 12 years away. Congress has trouble understanding it takes time to accumulate the funds that will provide the benefits. Reason: most are multimillionairs and won’t need benefits. Wealthy members don’t want to think about taxes. Some don’t even realize that global warming is reducing their $ billions of assets. However, if we are to survive in retirement, we need to convince the split Congress that Americans agree on THREE things: ensuring Social Security cost-of-living adjustments (COLAs) are enough to, at minimum, keep up with inflation; reinstating Social Security payroll taxes on people earning more than $400,000 per year; and providing a Social Security credit to unpaid caregivers. Because Congress may not agree in time to correct the situation, prudent folks must take action.

Start today: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

Are stock dividends the best way to create retirement income?

Some advisors are convinced that stock dividends are the best way to fund our retirement. Few stocks pay over 3% in dividends. At $6 a year, owners of 3M for instance, must own 5,000 shares at $194 a share or about $1,000,000. Luckily, dividends are taxed at lower rates than income from 401k or IRA funds. However, we may do better by owning non-dividend shares like those in the S&P 500 that we can sell as needed with fewer taxes. Also, with inflation returning to the historical 3%, a dividend yield of 3% may actually be losing us long-term buying power. Stocks returns beat inflation. The other benefit of owning non-dividend stocks is that we can sell when the price and tax benefits are greatest. If we have other retirement income like taxable 401k and IRA money, we can postpone selling stock for income. We may have periods when we can convert the taxable money to tax-FREE money and thus lower our tax burden over time. We may need a one-time fee-only planner to help us create tax-FREE retirement income.

Tax-FREE spending: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

$10,000 annual fee

Do you realize that is the amount you are paying your advisor every year? If your portfolio is $500,000 and your expense fees and charges and 12b-1 and trading costs and timing mistakes total up to 2% each year, you could be falling behind your ultimate goal in a big way. Year after year with most costs hidden in quarterly statements and prospectus, you can lose up to 50% of your possible accumulation because of the compounding of costs. Compare your account balance to the account balance if you were using a 0.04% stock market index fund. DALBAR returns tracker says the difference can be 7%--3.79%vs11.06%. If your assets earn more than 2% and you pay 2% TOTAL costs, you lose a year of earnings if there are any. If the market falls, you lose more since there are no refunds if advisors fail to better the stock market index. For most advisors, if their market picks fail, they will increase trading costs to try to avoid a loss. This just makes matters worse. But by the time you see the loss or lack of gain, that period is over and there is nothing you can do. You could move your assets to the Best Robo available.

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

Another way the wealthy avoid taxes

Trial lawyers haul their mass tort winnings to tax-haven Puerto Rico

And you wonder who will pay off the skyrocketing National Debt of $28 Trillions. These lawyers, who get the lion’s share of the opioid death settlement, are moving outside the US to avoid taxes on their $2 Billion fees. This “self-described West Virginia hillbilly” did not move his family so you know he is purposefully violating the law: “If you’re a lawyer in San Juan sitting behind a computer screen, you pay zero state and federal income taxes.” You may not be ready to leave your family and friends and move your office to PR so what can you do to avoid paying THEIR share of the $28 Trillion? You can avoid some of your income taxes by using deductions from your business activities like the former president does, but that takes time and money to set up. An immediate way is to take advantage of the current legal IRS-approved retirement accounts.

Start today: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

61% of households paid no federal income taxes in 2020

Are you one of the few who paid taxes last year? Households making less than about $28,000 will not owe income taxes this year, nor will about three-quarters of families earning between $28,000 and $55,000, the Tax Policy Center found. That means if you earn over about $22.47 an hour, you will owe the IRS in 2021. Congress is so divided politically; few expect the new taxes needed to cover our spending and debt interest will show up before year end. Long vacations add to the problem. Increased corporate taxes and changes in capital gains tax rates are likely to be debated for months. It is not clear whether Congress will even give the IRS the funds to collect taxes owed by the wealthy. Will middle-class families in high property-tax states ever get to deduct them fully? Will Biden be able to protect small business as Biden promised? You and small businesses don’t have access to the army of lawyers and accountants that allowed 55 profitable large corporations to avoid paying any federal corporate taxes in 2020. They cannot shift profits into tax havens to avoid paying U.S. taxes like multinational corporations can.

You can avoid paying their taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

American tax system: socialism for the rich: "only the little people pay taxes"

https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

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

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

Our Jan 6 ‘Truth and Reconciliation Commission’

Head of terrorist group gets 5 months

Capitol police sue Trump, his terrorists

House seeks Trump-terrorist link docs

Trump lawyers sanctioned for abusing justice system

Terrorist plotting to kill Gov gets 6 years

How Govt wastes our money:

US surprised Taliban guerillas still around: 2,352 troops died: tired of $2.2 Trillion costs.

GOP wants to keep ‘anti-terrorist’ group in Afghanistan: Vietnam started that way

Are ‘Anti-vaxxers’ really free to put the rest of us in the hospital?

100,000 hospitalized with covid-19 a level not seen since Jan. 30 when vax not available

SCAMS/SPINS:

TX GOP pushes for suppressing Dem vote to re-capture House seats: SB1 passed

States redistricting GOP favor for next Congress: Dems voters put in fewer districts

Trump booed in AL rally after vax statement: mob turns on Leader who got vax?

Conservative talk show Phil Valentine dies with Covid-19: family pleads ‘get vax’

Mom’s 2 sons die of Covid: sons refused vax: ‘I wish I could have made them do it’

Do it for the KIDS: Anti-vaxxers making most vulnerable kids sick and sicker

OR School head tells parents how to get children out of wearing mask: claim disability

CA pastor offering religious exemptions to avoid vaccine mandate: ‘war’ dead 635,000

KS school board gives medical or mental health exemption to avoid masks

LA GOP officials help with philosophical or religious exemption from Gov’s mask rule

FL anti-vaxxers wait on floor for anti-body treatment not vax: sick line up full hospitals

KY GOP court removes Gov power to curb Covid: GOP ends school mandate

Covid vax needs booster or not: not clear who when what where?

DeSantis, Abbott and Hogan anti-vaxxers running for the White House in ‘24

Dr Robert Karas AR prescribed anti-parasitic drug "thousands" of times: jail inmates

“You wouldn’t get your chemotherapy at a feed store.” MS folks taking de-worm drug.

The National Guard will see you now: GA hospitals staffed by military: Covid ‘war zone’

Judge: Sacklers, Oxy, get off too easy: legal immunities: killed 500,000; millions suffer

Bolts catch fire: GM unbolts battery: do not charge indoors overnight

Malicious QR Codes Now Used by Online Scammers

Covid risk on cruise ships even if vax: older cruisers warned: no hospital onboard

Seniors’ biggest mistake: SS benefits don’t go up when you reach full retirement age

Robert J. Mueller TX caught: stole $58 million seniors’ nest eggs promised safe returns

ISC Advisors caught over charging fees for funds: no disclosure; no SEC reporting

Online casinos report big year taking $13.6 billion from desperate poor/unemployed

John Woods Livingston Southport caught Ponzi on 400 for $110 million “safe steady”

Laptop crash? You can imagine car’s autopilot may have same problem at 65 mph

Pro-gun states wish to disarm the ATF power to regulate complete firearms

Family Fascism: state law gives militia a “veneer of sanctioned credibility” armed picnics

Jobs

Cars wait for their computers: Ford Toyota GM stop lines: Covid cuts Malaysia workers

Telemarketer jobs going away, thankfully you don’t pursue these phone pests.

factory equipment manufacturers jobs vault to highs above 2019 levels: good pay

Delta charging no-vaxxers extra health care premiums: selfishness costs

Robots replacing low-wage workers pushed by venture capitalists

Who owns your account now?

Supremes as owners put millions on street: evicted before recovery: didn’t even sign order

Miracles:

Congress considers giving seniors Medicare dental coverage to some extent: on to-do list

Athletes helping young ones understand how money works: learning basics avoiding bad

Earth Fire: 2020 was Europe's hottest year on record

Greenhouse gas concentrations, global sea levels hit record highs in 2020

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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Thursday, December 24, 2020

our children are our future

Will your family receive a stimulus payment?

If your AGI (2019 income tax) is over $75K single or $150K joint, Congress thinks you are ‘high earners’ and don’t need the money. Your dependent children age 17 or older will not receive an additional $600. Also nonresident aliens, deceased (unlike last time a million dead got checks), estates (like last time) will not get money. Since the average rent or mortgage payment is over $1,000, Santa can’t even keep his Igloo. Reindeer eat over $600 a week. Santa will be in tent city by January without the reindeer. Ms Claus will have left him and gone to her parent’s house. Santa will join another million folks filing for unemployment. Even toy shop workers will be let go early since the virus has closed the shop in December. Santa is over age 75 so he can get the vaccine but only if he can get to a free site. Some folks have been charged $2,718 after visiting a “FREE” site.

Happy holiday and New Year to all, ever hopeful Santa says.

Wealthy take our tax money elsewhere

The rich are finding it easier than ever to move out of America while enjoying the benefits of citizenship. Be it taxes, business opportunities, regime change or even just visa-free access to certain countries, there are a wide variety of reasons a high-net-worth person secures an additional passport or even new citizenship. With the help of specialty firms like astons.com/ they can use various residency and/or citizenship by investment programs that many countries have enacted. By buying a certain amount of real estate or otherwise investing a threshold amount into a country (based on its individual program), they can receive heavily expedited naturalization. “With the pandemic bringing both economic uncertainty and restrictions around travel, we’ve seen investors opt for more remote and idyllic destinations such as the Caribbean and Vanuatu where they might not have otherwise.” You can save on taxes without having to give up citizenship.

IRS tax-free account: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

If you start your child’s investment plan now, you won’t have to worry later

The most important element in investment success is not which stocks you pick or timing your trades before the market falls or buying the fastest growing sectors. The Miracle of Compounding is what Warren Buffett says is the single most powerful factor behind his investing success. He's been preaching this for six decades, and it's made him a multi-billionaire. "My wealth has come from a combination of living in America, some lucky genes, and compound interest." We don’t have his genes but we can use compound interest to secure a bright future for our kids. Time makes wealth.

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

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

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

Our ‘Truth and Reconciliation Commission’?

Healing America begins with admission: 330,000 dead

Dictator’s advisor: “we want them infected”

Dictator’s revenge hurts us: no stimulus checks, no unemployment, eviction extensions:

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy!

Trump gathers fellow travelers as Coup attempt continues: Will terrorists occupy WH?

Trump asks felon Flynn about using martial law in Jan: use army to hold on to WH?

Trump’s terrorists, force truck off road w/ guns: did NOT contain ballots per conspiracy

Trump cuts Biden team out of Pentagon transition: set up martial law for COUP by Flynn?

Trump’s executive order to make all federal buildings "beautiful": Albert Speer moment?

Trump pardons our hired killers: 2007 massacre in Baghdad; dozens machine gunned

McConnell’s back office still playing power games with our suffering: we pay Congress?

Trump’s deal ‘skills’: US pays more for vaccine than EU. Refused to buy early pay more

To get $600, ½ the last stimulus, Dems gave GOP more deductions ‘three-martini lunch’

SCAMS/SPINS:

Trump holding back vaccine to some states: revenge or pawns in game: Congress vote Jan 6

Trump says “virus created to make me look bad”: lose election: world exists for Trump

Trumpers pay for his tax-FREE retirement fund by tricking us: “Election Defense” con

After Trump cancels Iran nuclear deal, Iran restart building underground began

Putin denies hacking America: government, companies and poisoning political enemies

Hackers used updates to install malware that spies on systems, grab our info, cause havoc

US should hire the Putin hackers: money buys protection: hire best who hacked US.

Trump fails to make a deal to normalize relations: still looking for Moscow Trump Tower

Boeing again making 737 Max unsafe for travel: FAA ‘partner’ coached passing score

Seterus, Kyanite caught delaying borrower’s attempt to avoid forclosure: fine no jail

Daryll Claxton PA caught porn charges pending trial; suspension of CFP certification

Raging Bull MD caught promising millionaires using “hidden bull market”: no jail.

La Nacional caught keeping fees/taxes money transfer cancels; not canceling transfers

Transamerica caught not supervising brokers variable annuities, mutual funds, 529 plans

Santander Consumer caught giving bad auto loan data to credit bureaus: bad credit scores

Voya Financial caught overcharging on mutual funds; fake min. investment; kickbacks.

Pruco (Prudential) caught overcharging on ‘wrap fee’ accounts; not suitable: fine

Multi-Level Marketer caught ignoring regulator on Covid cure claims: no arrest no jail

Toy inspections canceled since March: parents use GOP “individual responsibility”

Trump’s fin bureau allows debt collectors to avoid time-limited debt: hound forever

Dietary supplements contain restricted drugs not labeled: perhaps dangerous

Food & supplies amounts reduced to increase price: pay more; get less

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

Is it a scam? Check AARP scamline 877.908.3360.

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

Jobs

Substitute teachers fill in from online college: bonus pay

Everything can be delivered: virus means more packages, food, drugs, supplies, etc

Have computer; will travel virtually: many new ways to get it done

Who owns your account now?

Do hackers have your email password? New data base show which database breached

Deep discounts your own 737 max: Alaska took 23; Ryan 75 50% sale No insurance

In debt? Get a FRESH start: DIY $44 software bankruptcy: fill forms to file: Fee waived

Miracles:

Warming danger: Antarctic iceberg broke off: collision with South Georgia Island?

Masks helped Plague doctors avoid death: too bad we have not learned the lesson.

5 teens saved 2 kids from icy pond disaster: see, there is good news and with masks!

To get $600, ½ the last stimulus, Dems gave GOP more deductions ‘three-martini lunch’

Stimulus law bans surprise medical bills: no more phantom doc charges at hospital in ‘22

Congresspeople who said hoax so no masks get vaccine BEFORE frontline medical

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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Friday, November 27, 2020

Wall Street loves stock traders

How Congress people determine the winners and losers

Recently, Sen. David Perdue (R-GA) provided the perfect example of how politicians make winning in the stock market easy ... for themselves. Our representatives are well rewarded for helping the winners win. Another example is the guaranteed $1.95 billion “advance purchase” agreement with Pfizer. This ensures Pfizer’s senior management will be well compensated for delivering 100 million doses of vaccine. We will still have to pay for each dose separately. There are many examples of this activity as shown here: https://www.reuters.com/article/markets-saft-idUSL2N14V2OV20160113. But we can still double our savings in 10-12 years over and over with a stock market account by using a low-cost index fund. We win too: TIME value of money. And we can make our savings tax-FREE by using an IRS-approved account—less tax; more to spend.

https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

$1,000,000 retirement fund?

The secret to reaching this goal is TIME and compound interest—both you can use for FREE. This strategy is recommended by the famous investor Warren Buffett. It takes $250 a month for 35 years to reach this goal using his strategy. The Buffett strategy does not cost a lot—there are no broker fees, no upfront costs. There is an annual charge of 0.04%. For your $250 a month, you will be buying shares of a mutual fund that invests in 500 company stocks like these: Apple Microsoft Amazon.com Alphabet (Google) Facebook Berkshire Hathaway (GEICO, etc) Johnson & Johnson Procter & Gamble NVIDIA and Visa. Because you are not paying a broker’s commission each month, you will earn about 11% a year over time. Of course, in 35 years, your $1 million will not buy as much as today’s money will buy because of inflation. However, no one spends their whole retirement funds right away so if you keep compounding interest, you can buy $1 million worth of things eventually. Remember, you only invested $105,000 for your million dollars. The rest is your gain in capital. This strategy only works if you keep investing $250 or more a month and you use the mutual fund Buffett recommends.

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

New IRA rules: use tax-advantaged accounts longer

New rule: We must begin paying tax on our tax-deferred accounts like IRA and pensions starting at 72 NOT 70½. We are told how much to take out in the form of the IRS table of required minimum distributions (RMD). When we are earning wages and pulling out RMDs, the tax consequences can result in higher tax rates and an increased percentage of our Social Security benefits being subjected to taxes. New rule: reduce taxes by making a deductible IRA contribution after age 70½. The SECURE Act in 2019 changed that. Now our traditional IRA contributions have NO age cutoff and allows additional contributions as long as we still work. Even a part-time or self-employment job like Lyft Uber will qualify. We can deduct up to $7,000 each depending on income. Avoid future tax hikes: create a tax-FREE retirement by converting IRA money to Roth IRA tax-FREE money. We may choose to convert any amount to the Roth from our traditional IRA. We pay taxes now instead of paying greater amounts later. Tax needed to pay for breaks for rich.

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

Money is tight—cut coverage on some plans

Life insurance: buy term to cover your family for 20 years only. Once your kids are on their own there is no need to cover them. Usually you will have enough in assets for your survivor by then. Permanent life with a savings component and individual disability cover are a waste of money unless you’re protecting your personal business. Vehicle insurance: low deductible and comprehensive coverage on an older car that you own is a waste of money. Better to use an umbrella liability policy to cover lawsuits so you don’t lose your home and assets. Use a savings/investment account to replace mortgage life, accident and disability. Create an education fund to protect your children’s future. Child life insurance is a waste. Beware dental, travel, car rental, pet, ID theft and warranty insurance exclusions. A savings/investment account can cover all these low-probability risks. Instead use the premiums over time for a better retirement nest egg.

The best insurance is having money: https://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Why Wall Street loves stock traders

Academics who study stock pickers have long observed that the vast majority of professional money managers – about 85% – underperform their benchmarks over a multiyear period. Yes, once in a while for short periods, they hit the money—just like gamblers. But we know the house makes money from those who keep betting despite the odds because of their illusions. Wall Street makes money from trading and fees repeated year in and year out with little for us. Consider all the professional traders who use powerful computers to pick and trade thousands of shares in seconds. Individuals have little chance of finding the gold seam. Wall Street spins a money fantasy—do the opposite: stay invested, don’t trade, buy low-cost market indexes in diversified sectors, use tax-advantaged accounts, and manage dividend/gain taxes. A study of 1600 traders concludes: “We show that it is virtually impossible for individuals to day trade for a living.” DALBAR tracks returns over time: High-cost managed equity funds average 3.79% vs. low-cost S&P 500 index average 11.06% a year. Use low-cost index funds or ETFs from Vanguard, Schwab, or Fidelity and beat the Wall Street “professionals.”

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

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

Like 1776, this period is a test of democracy—We reject the "American fascist"

Our ‘Truth and Reconciliation Commission’

Trump’s war: 270,000 KIA

Trump defies Supreme’s decision

Will Biden need military to evict Trump?

American-style fascism vs democracy

Do 74 million of us want democracy?

The Big Con continues: we never learn

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy!

Will Trump shutdown government in final revenge act on America? Revenge

Trump country ND leads the world in deaths: 1 in ever 1000 dead: real not hoax

43% of drivers/passengers killed in accidents not wearing seat belt. Masks same?

Supremes: religious can spread virus: no masks required bec/ “no restrictions on bike shops”

Trump let Mexican drug dealer “El Padrino” go free: freeing many of his ‘friends’

Another armed teen shoots 8 in WI mall: 2^nd Amendment killing us: dead have no rights

GA is recounting votes after recounting votes by hand: how many times; how much cost

Trump donor Rod Aycox gets federal money targeted for small biz: friends in high places win

“Follow the money”: GA senator run off between rich and richer: American Socialism for Rich

NYC road/bus checks for virus: just like in the movies: 14 days lockup for out of towners

SCAMS/SPINS:

American owners shows how to kick people when they are down on their luck

The BIG Con continues: ‘worldwide’ conspiracy to change 6 million votes: Blue to Red

Biden cannot find any socialists Trump said would take over government

Can GOP hold off all Biden appointments/policy until TrumpWorld comes back?

40-50% of Americans say they won’t take vaccine that can save their lives. Leaders maskless

Will these machine gun terrorists leave the White House quietly before January 20?

Trump attacks birthright citizenship: U.S.-born children not citizens: we are not citizens?

Biden’s EPA pick: lobbyist who helped DuPont avoid regulations

GOP gave up its democratic principles to a Trump dictatorship: can GOP go back?

Dictators don’t go quietly: usually force is needed: “I am the only one who matters”

How many criminals will the ‘law and order’ con man pardon? Giuliani still licensed?

So it is OK to lie to FBI if you have a friend in high places: Justice for some not others

Trump found a judge to stop PA certification: can one woman change millions of votes?

Could Trump reverse 4 state election results: MI, WI, AZ, GA? His alien advisor helps?

Trump told supporters NOT to use mail ballots: suppressing the vote backfired on him

Trump’s conspiracies have MAGA world talking Georgia boycott so Dems win!

Real voter fraud: Trump told us to vote in person AND by mail--no Black voter fraud

$75,000 truck massage: Don’t need a house—work 24/7 live in truck just to pay for it

GM Suv pickup recall 7 million airbags that explode w/o warning in heat/humidity

Tesla probes failure of the left or right front suspension fore links

USEquityAdvantage auto loan payment program contained misleading statements: fine

FDATR violated Telemarketing Sales Rule deceptive and abusive telemarketing: fine

Fake ‘Medicare’ caller gets info to steal ID: Call real number on card to give info

Judge: Trump’s Voice of America head tried to subvert unbiased reporting to world

Businesses with interruption insurance must sue their insurer even after paying for years

Fake vids tweets easy to make: never trust one source of information: info war continues

Fake charities look real: check IRS list BEFORE giving money: VA and disaster favorite

Trump’s Treasurer Mnuchin's moves money for pandemic to secret GOP fund: “illegal.”

OxyContin maker pleads guilty 3 criminal charges but bankrupt & owners get NO jail

Oxy killed at least 70,000 but Sacklers took $ billions out already and no one to jail

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

Is it a scam? Check AARP scamline 877.908.3360.

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

Jobs

https://www.healthcare.gov/get-coverage/ for uninsured: subsidy pays most premium

Who owns your account now?

Need to reduce debt: file bankruptcy at low cost: get new start with your life

CBS’s Simon & Schuster to German Bertelsmann’s Penguin Random House: anti-trust

Miracles:

PA mask makers LIVE in factory for 28 days straight when supplies were needed most

State Farm sending wire sensors to homes to prevent fires: cigarettes smoldering big fire

Democracy costs $14 Billions and over 1 year of fighting: voters need only 1 month fight

“It’s reality” Laura Ingram FoxNews finally insults Trump: “Biden will be inaugurated”

KS requires masks but keeps schools businesses open with emergency troops.

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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Friday, May 29, 2020

Why smart investors do NOT sell high; buy low

Every time we have a severe correction like 2007-08 or 2020, investors have to re-learn the lesson of the sages: Don’t time the markets. Over the past 71 years, there have been 13 bear markets, lasting an average of 13 months, with declines averaging 25.8% before markets recovered. By contrast, the 14 bull markets since 1949 have been longer and have had disproportionate gains, lasting an average of 48 months and gaining an average of 129.0%. A $10,000 investment in the S&P 500 Index in 2004 would have grown to $36,418 by December 31, 2019, despite the 51% downturn of 2008–2009. Returns for other periods may have been less favorable and that other market segments may not have recovered from this downturn. As the Putnam chart shows, if you had timed the market and missed 30 or 40 best days, you would have lost money. Smart investors look at similar charts when they get the itch to sell. No one can predict the future!

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

25% of us are using our future money for today’s needs

Many Americans are raiding their retirement accounts to pay for basic necessities, including groceries and rent. Over the last two months, the average withdrawal from retirement accounts was $6,757. Half of Americans who were recently furloughed or let go have saved less than $500 for retirement in the past year — and 70% have saved less than $1,000, according to SimplyWise. Of those who have an individual retirement account, 401(k) plan or retirement savings account, 1 in 5 now plan to tap those funds. It is difficult to find other ways to buy food and pay rent, especially since Congress let us take the money without penalty. But if a job loss or severe economic trouble goes on for month after month, we could be devastated. Like the Great Depression, we may be standing on food pantry lines sooner that we think.

We may demand a big change: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

Recover your retirement fund

The stock market has risen to the level of last August. If you did not sell, you may be able to meet your goals and timeline. No one can predict the future based on the past because we have never been through this kind of condition before. Plus, no advisor can predict the future anyway. Since nobody knows when the market will recover and refill your retirement fund, it is best to do nothing. Warren Buffett, expert unbiased advisor, says "The stock market is a device for transferring money from the impatient to the patient." We make mistakes when we are in a hurry. No advisor can tell you which investment to buy now to help you recoup your lost ground quickly. Quick gains are for gamblers who are willing to lose or who can’t control their emotions. We can concentrate on what we can control—cutting expenses, building emergency funds, looking for a new job—not on conditions we can’t control.

Wait and reassess in 2021: https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Women need a Wealth Reserve

Women generate just 83% of the retirement income men do. That’s $47,244, 17% less than the median household income for men ($57,144). To make it worse, women live longer than men so they need more, not less. You and your family can solve this mismatch by creating a special tax-FREE account I call your “Wealth Reserve.” Before and after you retire, build funds in your tax-FREE account. Only earned income can be contributed to this account at first. However, if you don’t work but your spouse does work, you can still invest in this account. You can contribute up to $6,000; if you're age 50 or over, it is $7,000. You can withdraw your funds tax-free. In retirement, you can let your money grow tax-FREE while you take money from your pension and other accounts. You can add to this account even after the wage earners retire. You and your family can make sure you have enough even as you live longer. Plus there will be no income taxes due on your long-term accumulations. This could save you 22% in taxes.

Build a Wealth Reserve: https://www.amazon.com/Your-Hidden-Wealth-Reserve-Reduce/dp/1540435148

Is a reverse mortgage right for you?

Reverse mortgages allow you to spend down your home’s equity even while you continue to live in it, then pay the money back when you move out, often from the proceeds of a home sale. Last year more than 30,000 Americans borrowed against their homes in this way. During the last recession, some borrowers fell victim to high fees and questionable marketing tactics. Reverse mortgages are generally structured so the homeowner gets a monthly payment for as long as they live in the house. The loan comes due after the homeowner dies or moves out of the house. At this point, the loan will need to be repaid — which might mean selling the home in order to come up with the funds. The one you’re most likely to encounter is a federally-insured home equity conversion mortgage, or HECM. Most reverse mortgages have variable interest rates which may cause cash problems in the future. Go to a HUD-approved housing counseling agency and look for agencies specifically approved to provide reverse mortgage counseling. Although reverse mortgages may help you stay in your home longer, they aren’t cheap.

Plus all the maintenance, taxes and fees continue. As always with mortgages, it pays to shop around, getting quotes from at least three lenders, to make sure you get the best possible deal.

https://www.amazon.com/Your-Retirement-Income-Checklist-TrumpWorld/dp/1544703260

Where do retirees keep their money?

There are many advisors who tell clients to use bond interest for retirement income. After all, fixed bond coupons paying 6-8% were ‘safe’ and guaranteed a fixed income compared to stocks. Recently, low interest returns have dominated the economy so this may not be good advice any longer. With the advent of Target-Date Retirement funds, some retirees have discovered balanced funds that manage stocks and bonds over time automatically. Some retirees have relied on balanced funds like Vanguard Wellesley Income fund for many retirement years—providing 9% returns since 1970. Some retirees and pre-retirees are taking note of the current tax rates and lack of forced sales for RMDs to move more IRA money to Roth IRA accounts. Later if taxes go up to pay for this pandemic event, they can use tax-FREE money to reduce their total tax expenses.

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

How Congress people make money with their ‘crystal ball’

Yes, there is a law against insider-trading, even for the wealthy and the connected. But law enforcement doesn’t go after Congress people who have intelligence reports we don’t see. They get away with it. They have their own system so they make sure few get punished. Plus, Congress people are rich enough to have ‘third party’ people (trustee) to trade on their behalf with the information. Take Rep. Phil Roe. He purchased stock in Zoom, the teleconferencing company, and Moderna, a company developing a vaccine, while dumping shares of Royal Caribbean Cruises and Disney. As markets crashed around the globe in early March, the ‘representative’ sold nearly 100 stocks over a two-day period. A spokesman said Roe does not personally manage his investments. So it is just luck that Roe’s trustee makes trades on the basis of knowing what is coming? Roe makes $ millions and so does his trustee. We are not fooled.

Use your legal tax shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Another way the wealthy takes our tax money

Trump and the GOP have provided another perk for the wealthy. Wealthy financial advisors keep our tax money (‘loan’ for employee salaries): big bonus. One firm, Lakeview Capital Partners, an Atlanta-based registered investment advisor with about $3.3 billion in assets under management, was the latest firm to disclose it received a Paycheck Protection Program loan from US. Do financial advisory firms which are already wealthy and receive about $33 million in annual fees ($3.3 Billion at 1% fee rate) really deserve $581,000 of our tax money? Lakeview is planning to keep the money under the ‘forgiveness’ regs. One critic: “these firms have to be in the position of dealing with bear markets,” he said. ”they know they don’t need the money. They know the loan was intended for small businesses like restaurants where they need to keep employees employed. It was not meant to be an indirect windfall for [advisors] RIAs.”

Robbing Us Blind: https://www.amazon.com/Robbing-US-Blind-fees

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

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

Mobster decides who gets food and who doesn’t (hint: politics)

Mobster: I decide which facts are real

Mobster: “Any difficulty and we will assume control but, when the looting starts, the shooting starts."

Mobster: “This Is So Unfair to Me”

No empathy

Mobster: give up your children or chance at life

Mobster: only good Dem is dead Dem

The plague was/is a sign

The Mob: virus is gone by Memorial Day (102,000 dead)