Your Unbiased Advisor: money fraud

Do you feel you should be doing something with your investments now?

All the things I hear and read say our economy is bursting out of a depression from millions of folks being out of work and out of money. The Fed controls the money supply and they don't see inflation. It is still supporting business by buying their bonds--giving them money to survive and expand. When you begin flying again, so will everyone else. The hospitality biz will explode with all that pent up demand from lockdowns. Authors are selling books on the fear of a bubble. No one knows the future. Readers expect the market will go down and up in the next few years, but unless you plan on taking out all your money now so you can go live on an island in the Pacific, what do you care? Let's say it goes down by 10% for a couple of years. You will need your money for another 20 years. So it will grow back and give you even more for the 10 years hence. Don't worry about the market. Look at the big picture: click 'max'

https://www.google.com/search?q=vanguard+500+index+fund+graph&rlz=1C1CHBF_enUS899US899&oq=vanguard+500+in&aqs=chrome.8.0j69i57j0l8.23884j0j15&sourceid=chrome&ie=UTF-8 If you are age 65-85 I would suggest you still keep 50% in stocks because you don't know how long you will live and still need more money. IF inflation was 7%+, then you might be better off in CDs paying 8% but that won't happen anytime soon. When you start to worry about a market ‘bubble’, go back to the chart above and think what you would do if you sold at the bottom of the 'V' of Mar-Apr last year. By Sept you are back on track. If you had sold then, you would have kicked yourself from missing a jump of 50%--212 to 320 by Sept.

Ignore the fortune tellers: https://www.amazon.com/Money-Ball-Investing-Winning-unfair-market/dp/1548831409

How much do you have to save/invest for solid retirement income?

Myth: you only need to save “10 times your income” to retire. This is a true and a false statement. When you start investing, type of investments and how long you let your money grow are the important factors. Readers have started investing with $250 a month by age 25 ($99,000 total) and end up with $ millions in retirement. It is possible to invest only 10 times your income but that assumes you invest in stocks early in life. Saving for retirement with bank CDs will cost you a lot more than 10 times income. Folks who start at age 55 will need to invest much more than 10 times income. Use this calculator to see how much you will accumulate in 20 or 30 years at 2% from CDs vs 10% from stocks: http://www.moneychimp.com/calculator/compound_interest_calculator.htm. $99,000 grows to $600,000. It is compound interest that makes you rich. And don’t forget taxes. Saving in your employer plan is tax-deferred not tax-FREE so you may pay 12% or 22% on your money along with up to 85% of your SS benefits.

Invest tax-FREE: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490/

Reader’s choice investment for 2021

As we climb out of this economic and social malaise, our readers are eager to get on with their money goals. Managing money goals has been difficult. Some have had to take money out of their savings to live on. Some have had to stop saving entirely—there was no money left after expenses. Some employers stopped matching savings or paying a bonus that went to savings. Now readers are more cautious and need to make sure that their saving/investing Dollar will be effective. It is time to go back to basics: a broad mutual fund with both stocks and bonds provides growth and protection from market correction. And because taxes are likely to go up, a low-cost tax FREE account provides another layer of protection. An employer Roth 401k or personal Roth IRA with a low-cost “balanced” fund fills the need. Your best deal may be the Vanguard Roth IRA with Target Date 2055 fund. With 0.15% expenses and $1,000 minimum, you keep more of your earnings than if you paid someone 1-2% each year. You would earn over 11% over time instead of 9% from an advisor. You don’t need a money manager to rebalance your portfolio from stocks to bonds for retirement income. Start income anytime.

It is automatic… and tax FREE: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is living on your investment income right for you?

What happens when you retire early and live on your investment income? You can spend much of it extravagantly or try to beat the market with one “future” Apple or Amazon super stock purchase. But like most lottery winners, you might lose most of your retirement nest egg in a few years. Inexperience with money makes people think they are invincible. Readers who grew their $1 million retirement fund by investing systematically every paycheck look at money differently. They appreciate the freedom it gives them to live on their interest and dividend without worrying about tomorrow. This is what many do: most years their low-cost diversified stock and bond portfolio (balanced funds) produces over 10%. They pay all their expenses from the SS benefits and pensions they receive. That 10% or $100,000 income supplements other activities like travel, gifting, business, family. A well diversified portfolio of funds has provided many readers with over 11% per year. Readers use the annual earnings over $100,000 (11-31%) to build a Wealth Reserve. Any year they earn under $100,000, they cut spending or they sell a few securities. They use their Wealth Reserve to buy cars, vacations, whatever they want.

Build a Wealth Reserve: https://www.amazon.com/Your-Wealth-Reserve-Save-year/dp/107028288X

Is a non-traded REIT (real estate investment trust) right for you?

This security is useful to folks who want to diversity their holdings into real estate over the long haul but it is not guaranteed. It comes in 2 flavors—private and public. Public shares of these securities are sold by a manager for a fee. Their value and dividend yield doesn't fluctuate daily with the stock market. Non-traded REITs typically have long holding periods. So it's much harder to cash in these non-traded ones than the traded version. The fees can add up too. Non-traded REITs have historically charged investors an upfront fee of as much as 5% of their initial investment. It may take a long time to offset the original and annual fees to the manager who get paid from the revenue BEFORE you do. If the shares you buy own poorly-run or highly-mortgaged commercial buildings, you may earn less than a bank CD. You have no control over the manager’s asset choices. Managers often boast of returns higher than the stock market index so examine the period they chose in the offer. See returns since 2001.

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

How insurers calculate your auto premium

Insurance companies make money two ways: earnings from your premiums and NOT paying excessive claims. Wise investing means matching their liabilities to their assets. They know how much they will pay in claims each year and invest enough in short term instruments to match. They don’t lose money if they insure only good drivers. Good drivers don’t take risks: good credit scores usually match good neighborhoods and better jobs, males have more accidents especially if they are single and older folks have more to lose than the “invincible” young. If you enjoy speeding and driving to your favorite watering hole, you might have to pay more. Some insurers think they understand some drivers better than others so they lower their premiums: GEICO, AARP, AAA is anexample. You have to shop every 5 years to learn which insurer is best for you.

Shop and save: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Avoid future taxes like the wealthy are doing now

Accountants and advisors to the rich are preparing their clients for a tax increase. We can avoid taxes too. Even though we don’t have the resources to go off shore, there are ways to save on future tax liabilities that don’t cost a fortune. The 2017 Tax Cuts and Jobs Act isn’t set to expire until 2026, but lawmakers may opt to hike taxes sooner. The current political climate is forcing high-net-worth folks to hedge against rising taxes—now. For high earners, the two most common strategies are investing in Roth 401(k)s and Roth conversions and investing in managed portfolios in health savings accounts (HSAs). The wealthy are also using ‘overfunded’ life insurance. In addition to providing tax-FREE growth, policies can be structured to offer policyholders the option to buy property, cars, and other large purchases from themselves while retaining unlimited access to policy principal. You can have the best of both worlds too.

Start now: https://www.amazon.com/Tax-Advantaged-Wealth-mutual-funds-Tax-FREE/dp/1481215906

Is your advisor “shrinking to grow”; dropping you?

Advisors are canceling accounts and that could mean you. The best advisors make more working with their most wealthy clients ONLY. If your advisor is leaving their big firm to start their own, they many not want you with them. Unless you have a lucrative pay package for your person, you may be left with the old firm or left out in the cold. Instead of paying another unknown asset manipulator, ask yourself what you really need. You may be better off using a low touch, low cost online Robo. In the last decade, Schwab and Fidelity have slimmed down because most people don’t need a full service provider. You may be better off at Vanguard, where you can get help whenever you ask for it for 1/4^th the cost. Some of my AARP tax aide clients have brand-name firm accounts that charge $ hundreds to provide nothing more than dividends and tax-advantaged mutual fund reports. Paying $200 for a broker to sell a few shares for a $20 gain is a waste of money. The client did not know why the sale took place but they had to pay tax on the transaction.

Low cost beats high cost every time: https://www.amazon.com/Lies-Financial-Advisors-Told-me-better-alternatives/dp/1478281545

Where is that refund?

The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App.

Where is the stimulus 1 or 2? If you did not receive stimulus 1 or 2, start filing here: https://www.irs.gov/newsroom/recovery-rebate-credit

Have tax forms; will file … for FREE but WAIT . . .

If you have unemployment income, ObamaCare coverage you should wait to file since the IRS has not yet implemented tax-FREE provisions of the new Covid law. Taxes due MAY 17 not April 15. Input the W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. forms you have. You can file for FREE online. If you didn’t receive a correct form, file a Form 4852. Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits. Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

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

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

Trumpists limit Black/Hispanic voting

Our ‘Truth and Reconciliation Commission’?

How Govt wastes our money:

Trump avoids taxes by $21 million deduction on his NY ‘forest’: we pay 33% he pays 0

Biden’s tax planners must end deficit spending: Trumpists’ tax breaks dig deeper hole

Wealthy broke IRS audit code: rich underreport their income far beyond what is known

Congress takes 2 weeks at taxpayers’ expense but they don’t ban guns of war on people

We buy more vaccine but 40% don’t want it: WHY: 550,000 dead already. Still Hoax?

State GOP building walls against American voters to assure Trumpists win 2022, 2024

SCAMS/SPINS:

The greatest enablers of these domestic terrorist enemies’ are within Congress

GOP allows our stimulus money to be taken by bill collectors: industry lobby pays them

AVOID TX: FBI concern that radical ideologies are going mainstream in North Texas

QAnon now pushes alarming conspiracy myths targeting China and Jewish people

Mormon Church caught fraud: used donation to run businesses: tax exempt jeopardy

Ronald Stevenson Jason Wootten caught Ponzi in EquiAlt 100+ investors: class-action

UBS questioned by court: helping clients launder funds via numbered accounts/trusts?

Stein, Corey Agee caught tax fraud: over-valued land deducted as conserved; Trump tried

John Spiller Jakob Mears caught billion Robocalls sell fake health insurance: fine, no jail

DNA tests like palm-reading: you can read anything into what they find

TV antenna fakes caught promising cable channels: no free lunch

USC to pay $1.1 billion to former patients of campus gynecologist George Tyndall

Gwyneth Paltrow’s health remedies claims under attack: NOT inflammation treatments

UV Sanitizer USA NOT sanitizes and protection against the coronavirus in secords

Supplements do NOT “the best treatment for depression, anxiety and stress”

Covid mutants may keep us in masks for years: new normal?

Good News: 70 percent of adults age 65 or older have received at least one dose

CA bans misleading adverts that divert us from content to sale w/o explanation

Video fakes change our perceptions: Biden not pretending to be president

CO shooter used an Automatic Rifle: kills 10 in secords: gun totters can’t draw faster

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

IRS tips to avoid scams: https://www.irs.gov/newsroom/tax-scams-consumer-alerts

Is it a scam? Check AARP scamline 877.908.3360. BBB Scam tracker

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

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

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

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

Jobs

Job scams: Before submitting an application, verify there is really an offer: Never SS#

Who owns your account now?

BEWARE: trusting media gurus or “successful” financial advisors can be dangerous

Miracles:

Asian woman, 75, beats back man who punched her: turn other cheek to racism?

Science: we do not know what 95% of the Universe is made of: new particles found?

Earth just missed meteor crush: we are lucky to be alive today

summer has increased by 17 days on average across the globe: soon, hot half a year

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/

Your new tax bracket is 22% down from 25% in 2017

If your total combined income is $100,000, you may get a break come April 2019. That assumes you don’t have property tax over $10,000 and don’t have kids. We are losing the SALT benefit and our personal exemptions of $4,050 each. That may be offset by the $24,000 standard deduction. What can you do with this change? If you are near or in retirement, you could convert IRA money to Roth IRA money. Our rates goes back up in 2026. Convert $10,000 of IRA money, pay an extra $2,200 April 2019, then spend an extra $30,000 tax-FREE in about 10 years from stock funds. So for each year you convert $10,000 and invest it in a stock index fund, you could end up with much more. Plus, you will have reduced your RMD each year because your $10,000’s growth is outside the IRA in a tax-Free account. Bonus: with an extra $1 Trillion debt, our taxes will have to go up soon.

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

Do you know where your retirement assets are?

Forbes estimates up to 30% of pension accounts may be missing. You can get help finding your money from the Labor Department or nonprofit pension counseling centers funded by the Department of Health and Human Services. Check the databases of bankrupt corporations to track down your retirement plans. First, email the firm if it is still around. Second, ask the investment company who held the 401(k). If your old 401(k) was at Fidelity or Vanguard, your IRA is likely at the same company. Third, try the DOL: https://www.askebsa.dol.gov/AbandonedPlanSearch/ and the https://www.pbgc.gov/workers-retirees. Get help from special regional organizations: http://www.pensionrights.org/find-help. You can try http://www.missingmoney.com/.

I followed a lead from a Google search of the bankruptcy story of my old employer. Turns out they had hired John Hancock to pass out the money as monthly annuity checks.

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

Will you have enough money in retirement?

Do you plan to live to be age 100? Check your life expectancy here https://www.bankrate.com/calculators/retirement/life-age-expectancy-calculator.aspx

Since your number assumes half the folks will die before and half after this age, shouldn’t you prepare to live longer? Most people don’t want to think or plan for life longer than 1-2 years from now, but in financial terms, we must plan because saving and investing for the future assumes we will have the time to make a change. It is time that allows assets to grow so we have enough money to last as long as we live. Retired clients are concerned they will not be able to afford life. Planning helps deal with the worry yet few want to face death so they don’t plan. First, check your Social Security benefits at https://www.ssa.gov/benefits/retirement/estimator.html. You have started your Plan. I show clients what they can do with $100,000 invested in a diversified portfolio for 10, 15 and 20 years. I ask if they can afford NOT to plan.

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

GOP refuses to protect Russian election-meddling investigation by DOJ

McConnell refuses to put bill on defending investigation to vote. Trump has tweeted he won’t attack DOJ deputy and investigator. GOP understands that Trump has always been truthful and could never be guilty of conspiracy against America, just like Manafort and Flynn. This is a vote of confidence in prez and GOP wants to impede the investigation as much as possible because they assume Trump has something to hide. That is why he fired FBI director Comey and FBI deputies McCabe and Yates. It will be too late to take action once Trump fires Rosenstein and Mueller. But Mueller handed off money laundering, bank fraud, wire fraud, and other charges to another GOP—NY Fed prosecutor. Trump and his mob will not escape by firing DOJ investigators. Pardons may not work in NY.

Our Reps need Mueller report to act against Trump unless he postpones election 2018.

America can be saved from dictatorship.

Regulators don’t stop financial services fraud

Trump cuts our protections. Are you a victim of your sales person?

Top 10 frauds aimed at us:

The affinity fraud exploits the trust and friendship that exists in religious communities, senior citizen groups, military service members, ethnic groups and other communities.

Fraudsters ask for an upfront payment in order to perform or execute a deal. fraudsters could use official-sounding e-mail addresses that end in .gov, .mil, or fed.us to fool us.

Binary options contract where the buyer bets on whether an asset's price will rise or fall within a time frame. Check yours: https://www.smartcheck.gov/videos.

High-yield fraud includes an unlicensed individual convincing an investor that an unregistered investment can produce a high-yield with little to no risk.

Internet And Social Media Fraud happens when we are manipulated by criminals.

Microcap fraud is when a low-price stock is heavily promoted to carry out other schemes, like pump-and-dump. Criminals fake buys and media hype then sell leaving us with loss.

IPO: Fraudsters offer investors a false opportunity to buy initial public offering shares before the company goes public.

The pyramid scheme relies on new investors to pay old investors with bogus gains. A multilevel marketing program is where earnings are based on the amount of sales. A pyramid scheme is an illegal practice. Multilevel is just hype unless you are top recruiter.

Prime Bank and Prime World Bank investments do not exist. They are all scam fronts.

Promissory notes: Swindlers recruit independent life insurance agents, who are not licensed to sell securities, to sell the notes for a commission. Hype is high fixed rate.

More scams and frauds on Americans not protected by our government.

Rely on the Vanguard Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

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Make

~~America~~

, “The Don” Great Again

‘I’m the only one that matters’ Mob Boss, Nov 3, 2017

Loyalty to The Don above country. Treason? Above the Law?

Trump to refuse to answer special prosecutor’s questions: Above the law?

FBI finds answers in ‘The Don’s’ consigliere’s office/home/hotel

The Path to Dictatorship

“I have absolute right to do what I want with the Justice Department”