Another way the wealthy fail to pay their fair share
Conservation
easement tax deduction is intended to keep pristine environmental beauty
alive for all of us. Instead lobbyists are paid to stop Congress from killing
this loophole. Congress people are paid to allow this concept for huge gains to
continue. The wealth avoided $9.2 billion in taxes in 2018. Some
pay nothing; others pay 3.4%. The IRS admitted it has not been able to stop
the misuse of the loophole. In some cases a group of rich investors buys a
useless property and gets an appraiser to up the potential value so that “easement
deductions exceed 2.5 times” the amount paid. Closing this loophole would
generate $12 billion in additional tax revenue through 2027 according to the
OMB. A simple example of this taxpayer rip off is the one created by Trump.
After he bought his mansion in
Use your tax-FREE account: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Help your child, grandchild get started on a $1 million fund
They will need a million dollars since inflation can reduce
the buying power by 50% in just 20 years. Since common stocks have the best
history of keeping ahead of inflation, a broad portfolio has the best chance of
delivering steady returns. Since 1871 a basket of stocks (dividends reinvested)
has provided 11%
returns. Ordinary
inflation is 3% not 8.6%, so right now stocks are cheap. If you show your
family that an 11% long-term return can turn $250 a month into $1,000,000 in
about 34 years, they will not be try to beat the market with fast trades
through a $0 commission broker. Show them the math: $250
per month for 34 years costs $102,000 in contributions. They earn $898,000
in dividends and capital gains. If they use their special IRS tax-FREE account,
they avoid about $225,000 in taxes when they take their money out to live on.
Remind them that Warren Buffett
bet a million dollars on a low-cost market index fund to beat 5 super stock
pickers. Buffett recommends you use the Vanguard
500 Index Fund. Why? You can give
up 63% of your returns when you use a broker. And if they trade to beat the
market they may end up with the historical
broker account average of 3.79% not 11% a year. That’s $208,865 instead of $1,021,768
after 34 years.
https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355
Why your advisor is outsourcing your investment needs
Advisors Are Outsourcing Investment Management: more
time to find more fees/charges. Such is the story from your RIA sales
person. Your advisor is in the sales business—attracting new assets. In our
recent research, we found that more than two-thirds of advisors surveyed
believe outsourcing
gave them more time to spend on client relationships, client service, and business development. So your money
will end up in 4,000 investment models from nearly 500 institutional asset
managers. This means your advisor will charge you to pay someone else to stick
your money in a set portfolio. They will ask you to fill in a long form and
come up with a risk/reward ratio. That’s it. You will pay your advisor and the
money manager both for life. This is why some analysts have determined that your
fees
can take up to 63% of your potential final net worth. This is why the average
managed portfolio earns just 3.79% not the index fund rate of 11% over time.
No advisor or money manager can beat a simple stock market index account. Those
that do, have a
lucky run for a short time.
Stop wasting your money: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X
Can you really secure your retirement income?
Some sales people claim you can do this by buying and holding gold and silver. But precious metals only hold value during high inflation times during some periods. Over time they earn much less than stocks. There are insurance sales folks who claim 70% of American seniors will need long-term care. This statistic is misleading since promoters are counting all the times seniors need short-term care at home and in facilities covered by Medicare. Some bankers want to give you money for your home now and let you stay in your home till you die. Of course you still need to maintain it and pay the property taxes on it. Reverse mortgage costs more than some traditional mortgages. When the reverse mortgage amount runs out, you have no home equity to tap into. Another sales proposition says you can increase your net worth 6 times by having someone else manage your money. Yet the firm that tracks money managers says your account grows at only 3.79% a year compared with leaving your money in a simple stock index fund earning 11%. Unfortunately, those who manage your money take their pay from your funds even when they lose your money. They may make the wrong trades at the wrong time, called churning. There are no refunds for bad advisor advice.
Use Buffett’s strategy: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
Fight inflation by saving on your financials
Save on your insurance, securities, mutual funds, banking, credit cards and recurring expenses. Most of us forget to review our recurring expenses to make sure we have the best deal or continuing need for products/services we bought before. I have shopped for car, home and umbrella liability insurance every two years or so. Why? Every time I shop I save. Carriers change marketing plans or I don’t need the same coverage. I am older and so are our vehicles. I have not made claims because I raised my deductibles and so I pay less. I don’t trade securities but when I buy individual issues or mutual funds, I use a no cost or low-cost firm. I moved my business bank when they raised the minimum needed for no monthly fees. I got rid of all my high-rate credit cards. I earned $600 by using new ones with a bonus. I dropped the more expensive cable package when Verizon raised the cost. I wasn’t using Netflix anymore so I cancelled. Same with data wireless plan I was not using completely. Now I pay as I go. I got my town tax assessor to lower our property taxes. I make sure I use all of my tax credits—small businesses, IRA deductions, charity, medical and educational. I am saving about $3,000 a year which I add to my IRA deduction. I still clip coupons on groceries or buy direct from honest sellers. I buy used books and electronic media. My money-back guarantee credit card saves me from fraud.
https://www.amazon.com/Financial-Bargain-Book-Save-3000/dp/1517264936
Retirees’ incomes get killed with inflation
Retiree households had an estimated median income
of just $29,000 before taxes in 2019, according to Transamerica. Even
worse, just over 1 in 4 retiree households — 27% — reported an income of less
than $25,000. Retirees are sacrificing
food and clothes to afford healthcare. Out-of-pocket health costs
for elders in the
Tax-FREE income: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
Strategies to overcome a bear market
If you believe the stock market is headed for a period of
reduced returns, consider these strategies
recommended by past successful gurus. Consider your investment behavior if
your portfolio drops another 20%. Adjust your allocation accordingly. Asset allocation can lean away from growth
stocks to dividend stocks. Stay diversified: energy,
high dividend, real estate and utilities usually offer temporary protection from
the Fall. Always use “dollar cost
averaging” to invest or move from one fund to another. With a fixed amount,
you buy more shares when prices are lower and less when high. Keep track of
fees. When earnings are low or negative, the industry does NOT stop taking
their fees: double whammy. Over a lifetime of investing, “you may give up 63%
of what you would have had.” Use only low-fee financial help. Bears
eventually end and
usually recoup losses in a year. Most investors miss the time to jump back
in: timing does not work for most. 10
best days of the stock market account for 80% of the rise. I have not
looked at my statement for 6 months. I’m buying the biggest losers of the year
right now.
https://www.amazon.com/Snoring-Best-Way-Create-Wealth/dp/1466408928
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Nov 2020 Wealthy
discredit election process
Jan
6 2021 Direct
assault failed: guns
& bombs ready
Trump engaged in a "criminal
conspiracy" to stop Dems
Trump had become “detached
from reality”
GOP fascism: “RINO
hunt armed; no bagging limit”
Trump
used mafia intimidation on defenseless
Trump: “Just
say the election was corrupt and leave the rest to me”
Trump’s Supremes end personal
rights: state
laws except for weapons
WMDs
How Govt wastes our money:
Trump’s
terrorists could have killed Pence: Pence
called military help from escape route
Airlines
got $Billions free to keep crews employed: CEOs not crews got the money
Politics
trumps justice: Jan 6 committee
not sending witness statements to DOJustice
US
Justice focus: Ukraine not Trump’s attempted coup:
“There just
isn’t a lot of legislative time left.” July: Congress vac Aug then
election
Supremes
cancel church state separation: state tuition to religious schools
constitutional!
Supremes
cancel right to sue police for ignoring Miranda warnings: induced confessions
Supremes
cancel police concern: too many guns on the street are a threat to public
safety
None of Founders
carried gun around city: Burr
Hamilton had to leave city to shoot guns.
Despite $
billions in subsidies we pay them, oil
refineries closing: EU uses small cars
Refunds: 21
million paper tax returns are still waiting: rich don’t overpay,
no waiting
Half
of Retirees Now Owe Taxes on Social Security: use a tax-FREE retirement
account
Gun violence bill: nothing
on guns: states get money to spend on ….
Uvalde lesson: teachers
must shoot the terrorist to protect kids: coward’s
suicide event
Most
attacks over before police arrive: HALF leave scene before: 1/3 shot by cops
New
body armor rules in NY miss vest worn by Buffalo killer: terrorists armor
still OK
How will police know
shooter if
everyone has a gun? Of 433 attacks, only
12 good guys got him
SCAMS/SPINS:
Teachers
leaving to avoid teaching culture war ideology: race, sex, politic are facts
of life
Apple
staff going to union shop: Jobs used to give stock and lunch
Uvalde
police did have rifles and shields early: some cops got their kids out
Supremes
prove political focus: pro-Trump
anti-women Prejudiced
court
not American
Supremes
decide to arm the rest of the US: 25 states already don’t
require permit to carry
TX
kept many slaves in irons after Juneteenth despite Civil War. Now redlining
evictions
TX
rejects Biden, Trump wins 2020: TX will vote to secede: rejects Fed
subsidies
GOP
co-conspirators in coup: Gohmert, Gaetz,
Perry, Biggs, Brooks asked for pardons!
TX massacre was plan of God: “God
always has a plan,” the TX top lawyer replied.
MO GOP: “Join the shotgun crew. Get
a RINO hunting permit. There’s no bagging limit”
New
scams: genetic tests, Apple phone, IRS call, family plea, Amazon security,
shut off
Philly eviction help: mediation
process requires landlord to respond
Geoffrey Palmer, CA caught
failure to return rent security deposit 19,000: fine no jail
Recall:
HelloFresh caught
“17 free meals” scam to debit account forever
“Buy now, pay later” scams caught
overcharging for long term debt
Soaring
medical debt: middle class squeeze: lose job; lose coverage: hospitals sue
Google caught
paying men more than 15,500 women: 30% of fine goes to attorneys
Crypto
dealers close out withdrawals: you could lose your assets
Congress lets these
companies follow your transactions/decisions/lifestyle: files on you
Putin
is kidnapping, exiling Ukrainians to Russia after bombing them out of
house/home.
GOP vision: no
oil/gas subsidies, guns
over children, no
abnormals, original
Constitution
2024 GOP
Fake electors vs accurate popular vote: American
vs Russian-style vote count
Jobs
Many are using this market disruption to find a new job,
new start, new life
Waitlists of renters needing affordable
housing continue to grow.
Newark
launches search engine to help renters find housing they can afford
Lifeguards
needed everywhere: pandemic, certification stopped, pay lags many other
jobs
Who owns your account now?
FREE money: bonus cards up to $750 on travel, $2-300 cash
"Cash is not a safe investment because it will be taxed by inflation." Ray Dalio
Wealthy pass on wealth without taxation: all the legal accounts they need to avoid tax
Waiting for 8% on bank CDs: inflation times like the 80s were great for saving for home
Miracles:
DNA of Black Death
victim 1338 shows location:
June 17, 1972,
an inept burglary (tape on lock) GOP
destroyed American innocence
Our
next delivery trucks/bikes: 15 mph with 440 lbs
Many
coastal cities are sinking even faster than sea levels are rising: Miami
garages
Excessive heat on
the train tracks caused a BART
train to derail
Garage-sized
reactor could provide limitless energy: wealthy avoid PSE
A laser
that can stay on forever: medical, industrial, holography,
bar-code scanners
Exercise pill: “slow
down osteoporosis, heart disease or other conditions.”
Lose weight by
cutting sleep oxygen: hypoxia
cuts appetite and burns more calories
Diagnose
Alzheimer's disease in a single scan: therapy to control their
symptoms
Supremes open up NYC
subways to Wild
wild West style gunfights in tunnels, platforms
@
Everything in
universe: galaxies to stones made of subatomic
energy ‘vibrations’
Light is both
a particle and a wave depending on how we look at the light.
A subatomic ‘particle’
is the smallest possible vibration (quantum) of a quantum field.
Mass–energy
equivalence: E=mc^2. At the smallest
level; Everything is moving!
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
“Empty space is a
boiling, bubbling brew of virtual
particles that pop in and out of existence in a time scale so short that
you can’t even measure them.” Space expanding.
We can apply for
Medicare online: https://blog.ssa.gov/apply-for-medicare-online
We can apply for Social
Security online: https://www.ssa.gov/benefits/retirement/
We can apply for
health care online: https://www.healthcare.gov/
IAN
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
