Let Uncle Sam help with your retirement fund

 

Make the New Year better

 

The easy way to create your $ million retirement fund

Some of my readers use this strategy to build their retirement fund. They use their tax refund (average $3,000) to buy the low-cost 500 Index Fund so they can automatically invest without having to write a check every month. The tax refund happens because they are making sure they don’t owe the IRS any money in April. Their employer deducts the standard amount from their check every pay period. They never see the money deducted—they receive their net pay and have to live on that amount. If forced savings is not for you, the alternative is to have your mutual fund deduct $250 a month from your checking account. After 35 years, your $1 million is tax-FREE using a special account.

https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

Is a registered index-linked annuity right for you?

Registered index-linked annuities use index options to provide both upside potential and downside protection. Insurers are replacing traditional variable annuities that offer living benefits with RILA products. “Insurers indicate that they are using the RILA to pivot away from risky guaranteed living benefits,” according to analysts at Cerulli Associates. Insurers are taking less financial risk by cutting the living benefit option. The living benefit is intended to guarantee the benefit provided, and toward that end, it usually offers guaranteed protection of the principal investment and the annuity payments or guarantees a minimum income over a specified period to you and your beneficiary. Usually the guarantees cost you more and many believe the extra cost is not worthwhile. Insurers are eliminating their financial risk of having to pay more due to unforeseen circumstances. Instead they offer the possibility of your account earning more over time. Variable annuities are popular when the fixed rate of traditional annuities is very low. Currently the fixed rate is under 3% so it does not even cover the inflation rate. Because all annuities come with extra fees and cost, you may be better off using a low-cost balanced mutual fund to meet your retirement income needs.

https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

 

Is a tax-FREE retirement fund right for you?

Since 1998, working people have been able to create a legal tax shelter. Every $1 contributed to this IRS-approved account at your favorite financial institution can grow tax FREE and be withdrawn tax FREE. This means that instead of you paying taxes on the money you take out later, you pay ZERO taxes. Because you have no tax liability on this money, your other income like Social Security may not be taxed. With the old pension system, you had to pay tax on the income because your employer paid no taxes as the pension amount grew. Because you had taxable income when you retired, your Social Security was also taxed. Now some of us who have been using the new system for a while pay no income taxes when we take out this money from our accounts. Thus, by investing $250 a month in a low-cost stock index, after about 35 years, your account reaches $1 million. This money is tax-FREE. Your gains—$895,000 ($105,000 in; $1,000,000 out)—are completely tax FREE.

Use your tax shelter: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072/

 

Tax withholding part of your IRA distributions is usually required

The IRS is taking no chances so they require distributions to have taxes taken out before you receive your money. Traditional IRA accounts let us defer taxes during our working years. Now the IRS wants their money. If the distribution is in the form of an annuity or similar payments, amounts are withheld as though each distribution were a payment of wages pursuant to the recipient’s W-4 form. For other kinds of distribution, a flat 10% must be withheld by the plan custodian unless a different withholding is elected by the owner. Even though distributions from a traditional IRA may be partly nontaxable because of nondeductible contributions, all withdrawn amounts must be reported to the IRS. Distributions from Roth IRAs are not subject to income tax withholding in most cases. Most distributions are NOT included in taxable income since we paid tax on the income already and the earnings are Uncle Sam’s tax-FREE gift to us for making a nice nest egg. So it is possible for someone to create a totally tax-FREE retirement.

No offshore account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

Most retirees would like to have a higher SS benefit

However, most folks don’t or can’t wait to age 70 to claim the highest benefit for their years worked. In fact, if they used their 401k or pension money first, they could have earned an extra 8% per year in benefits from age 66 [full retirement age] to age 70. Once they begin benefits, they will not increase the benefits unless they keep working. So if they begin at age 62, the earliest possible, they will receive less for the rest of their life. I had no choice but to begin at age 62 due to layoffs and industry cuts. My wife waited to age 70 and receives about double the amount I receive. She also worked past age 70 and was able to increase the benefits each year she worked because she was still contributing to the SS account. Thus to have a higher benefit for the rest of their lives, most retirees must find other income to postpone taking SS benefits. The alternative is to strengthen your invested asset base to supplement your retirement income. This usually involves taking more risk in the securities markets. Most retirees choose to stop working before age 70 and receive fewer lifetime benefits.

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

 

Retirees save on property taxes

Some states like NJ have a program to help retirees with lower income. Some states offer to property tax relief. FL has homestead exemption. NJ offers a Property Tax Reimbursement Program, also known as the "senior freeze," which reimburses eligible senior citizens for property tax increases. If you qualify, your property tax increases after age 65 are refunded. NJ also has a Homestead Benefit program which provides property tax relief to eligible homeowners. For most homeowners, the benefit is distributed to the municipality in the form of a credit, which reduces your property taxes. This high tax state provides Property Tax Deduction for veterans, seniors and disabled residents. Most retirees do not itemize since the property tax deduction was limited in 2017. Some retirees with high property taxes have found other means of offsetting their high property tax burden.

Use all your tax credits: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

 

‘Democracy’ à la Dark Money

 

“Follow the money” elections

 

Sedition: Fake Trump Elector Criminals

 

Trump: “I’ll pardon” seditionists: ‘stuff of dictators’

 

Trump’s ripped up sedition-plot papers

 

 

UN-United States; 2 Americas

 

New GOP rules: Some voters wait 10 hours

 

 

 

How Govt wastes our money:

Judge stops Big Oil from drilling for Gulf oil/gas: court fight not over: oil profits up 

Biden moves to war stance in Europe: Putin scared or challenged: Freedom fighters

9 TN cops blast mental man off side of road: Taser not used: use tranquilizer gun?

 

70,000 US troops in Europe: Biden starts with 8,500 moved to Putin’s border

Manchin decided the domestic legislative agenda is “dead”: GOP rules

Taxpayers (our Fed bank) bailed out biz in pandemic: $25 million bonuses Wall Street

 

Bezos deducts his costs: moving bridge to get his ship out of builder’s dock

Workers stuck with $30 Trillion debt: IRS can’t even collect taxes owed by rich

 

SCAMS/SPINS:

“I would rather die” without new kidney than get Covid vaxx: totally brainwashed!

Truckers 90% vaccinated still stage protest: halt traffic in Ottawa

Putting fake words in celebs’ mouths: easy to lie to convince the convinced 900,000

Hospitalizations 23 times higher among unvaccinated than those who got boosters

 

Sports betting: scam or new tax? AZ workers lost $51 million in one month: desperation?

Foil the granddaughter/son scam: ask for specifics!

Companies that suppress our reviews may be fined: when all reviews are 4 stars: scam?

Is your cereal just salt and sugar? CR blasts them apart

 

Trump raises $122 million to buy next election or pay his legal fees?

 

Jeff Bezos raises Prime price $139 to pay for his 2^nd yacht and move bridge: copter yacht

Paul R McGonigle MA caught stealing retirees annuity accounts:

Empowered Diagnostics tests caught producing a false Covid result: not approved

 

doTerra distributors caught treatment/prevention of COVID: FTC warning; snake oil

SlimFast caught claims weight-loss “clinically proven lose weight/keep it off” no proof

HELLO FRESH’S ’17 FREE MEALS’ caught Not Free: buy 6 months 3 meals: $100s

 

Agora Financial caught claim single month trading penny stocks $39,587: just B.S.

Cold/Flu meds caught claim ‘non-drowsy’: false: ingredient DXM makes sleep

KASHI RIPE STRAWBERRY BREAKFAST BARS caught actually colored apple/pears

 

EMAX tokens caught false celebrity adverts to raise price: ‘pump and dump’ cyber coins

FINRA securities regulator allowed one party to fix list of arbitrators in WellsFargo favor

Annuity agents sue regulator after it requires them to sell ‘best’ product for client not fees

 

Remodeling fantasy: new kitchen $20,000 “in few weeks” takes 5 months $50,000: scam?

Tesla pilot automatically runs through stop signs: no refund on ticket/crash: brakes at 60

CA may allow victims to complain to medical boards re bad doctors: 1^st time in history!

 

Are police liable if they don’t stop their boss from killing arrestee? Nazi defense invalid

A gun as personal protection is a myth; you can never get it out faster than killer has done

 

Rents up 30-40%: finding new space on $15 hour stress—avg $3,000 FL, TX, NY

Coffee, soda, burgers, fries: Cheap date prices up 8-10%: DIY back in style?

 

Cruz “offended” by thought of Black woman as Supreme: race useful for fundraising

GOP: silent assent to Trump’s VP canceling the 2020 election results: silence means OK

 

Jobs

Pay hike 4.7% but price hike 7%: we are left with loss of 2.3%: specialty work OK

Brady quits: retiring after a loss—not in his blood: GOAT fun to watch

Is the ‘Space Force’ real? Airline clerk only seen Carell comedy. Only TV show!

 

Best jobs in 2022: tech— flexible work arrangements and six-figure salaries. 

 

Who owns your account now?

Some insurers can estimate/validate auto claim in seconds: get repair started same day

Social Security offices remain closed until at least mid-April: call and fax docs

Win $200 for spending $750: no annual fee: cash back: how can we lose?

 

IRS taxable income: disability income, SS benefits, free trips, canceled debt, tax refunds

File tax return FREE: income to $73,000: IRS too busy to catch mistakes

Clean up your credit report: https://www.annualcreditreport.com/index.action

 

Capital One: best all-around bank for online savings: interest, plus no fees

 

Miracles:

2 year old saves 6 family members from smoke: Covid takes away your smell of smoke

Remain young: wealthy to buy a new lease on life: reprogram to embryonic stem cells

No Surprises Act prevents billing by ‘walk-thru’ doctors: except ambulance fees

 

Tree hits man in car just where the tree did NOT fall on him: gift of life

Trump’s postmaster just delivered birthday card mailed December 23: 30 days late!

A Putin chicken broke into the Pentagon spying for some intel “chicken feed”

 

Cancer lymphocytic leukemia cured by CAR T cell therapy

Great Salt Lake soon with NO water; Olympics with NO snow: snow in Greece Turkey

 

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/

 

 

What do you do when the market falls?

What do you do when the market falls?

Sell or stay the course? Why do the non-commission advisors like Warren Buffett tell us not to panic when the market declines? Why do the smart investors use the decline to BUY, not sell? The only reason is they have the experience of seeing the losers after they sell. Here is what I do, even in retirement: I look at the past market behavior-- http://www.moneychimp.com/features/market_cagr.htm. 2008=-37%, 2009=+27%, 2010=+15%; 2002=-22, 2003=+29; 1974=-27, 1975=+38, 1976=+24. Notice that when it falls, it rises. If that is not convincing you, look at the actual average earnings for advisor-assisted investors compared to the unassisted stock index fund: 3.79% vs 11%. Earning 11% a year (index accounts cost 0.04 % or less) over time beats 92.2% of the advisors and brokers unless they have illegal insider information. I use ‘perspective’: 2018 Jan 2=271; Dec 6=271 plus dividends. Last year I gained 22% tax free.

https://www.amazon.com/Just-Takes-Time-money-fashioned/dp/1979380945

Is your ‘retirement’ account really an ATM?

Most (59%) of investors ages 18 to 34 say they already have taken money from their retirement accounts according to a survey. Yet most believe they will have enough to enjoy their retirement. Not long ago, only 31% had raided their future nest egg. What happens when our 401k or 403b is used as an ATM? The compounding effect is destroyed. Compounding is the effect of making money on our existing money without adding more. Invest $250 a month, $3000 a year for 33 years ($99,000) and compounding produces about $1,000,000: $900,000 was from compounding. When we interrupt the growth—just 5 years—by stopping the flow and ALSO reversing savings, we lose about HALF the final total.

It is a miracle: https://www.amazon.com/Miracle-Compounding-Turn-$9-a-

day-into/dp/1470176513

Wages are up 3.7% Who is getting the raises?

The unemployment rate is now at 3.7%, the lowest since 1969. On a yearly basis, wages and salaries jumped 3.1%, the biggest increase in 10 years. But, which groups are getting the lion’s share of the increases? Corporate CEOs and upper management seem to have taken more than their share—perhaps from the corporate tax cuts. Most line workers seem to have given up more than they got—they will pay for the corporate tax cuts. The highest-rated employees earned 4.6% in raises in 2018, compared to the 2.7% average raise given to employees with an average rating. Although minimum wages were raised in some states, the big increases went to a few. Clothing manufacturing wages jumped 14% with only 116,000 workers. Refiners of petroleum and coal with 115,000 jobs saw the 2^nd highest raises. Data miners are in demand. So most of the wage increase of 3.7% was for a sliver of very skilled workers and their bosses. CEO's have seen a 937% increase in earnings since 1978: Workers saw 11.2% during the same time. "CEOs are getting more because of their power to set pay, not because they are more productive or have special talent or have more education," says one report. Given cuts in corporate and wealthy taxes, paying for the narrow group of raises will fall to the working class only.

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

Do you need a REAL middle-income tax break?

The REAL tax break from the GOP and Trump is the removal of the income cap on conversions from traditional IRAs to Roth IRAs. The 1.6% income increase for the average household earning $50,000 to $75,000 has been eaten up by tariffs and health care costs. Compare the $thousands you save in taxes during retirement when most of your income is tax-FREE and you no longer have to take taxable RMDs from your IRAs. For many, the elimination of tax on IRA distributions means their income can continue to grow after age 70 ½ AND they will pay less tax or nothing on their SS benefits.

Keep your taxes low for life: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Advisor’s plan for your retirement spending is impossible

The average spending for households headed by 55- to 64-year-olds was $65,000 in 2017, according to its Consumer Expenditure Survey. Spending dropped to $55,000 between ages 65 and 74, and after that it fell to $42,000. Housing costs remained steady and health care expenses increased, but nearly every other category — transportation, entertainment, clothing, food and drink — declined sharply. Retirement is NOT a fixed expense so putting all your money into an annuity or other fixed income vehicle is absurd. We all need flexibility unless we are going to watch TV for the rest of our lives. Advisors used to get off easy by telling us to take 4% a year. They were just lazy—it takes work to know how much to spend in the future. Chase bank created 4 profiles: homebodies, globe-trotters, health care spenders and foodies. Most advisors build inflation escalators into their financial plans but the data shows otherwise. For some, the huge bump comes with unexpected health care expenses. On the other hand, you should make that great trip or other retirement dream while you are able. Plan for flexibility!

Buy Income & Growth: https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Are trusts to avoid $10K cap on property tax right for you?

Wealthy folks in CA, CT, NJ, and NY are using trusts to hold their properties so they can avoid the cap of $10,000 on property tax set by Trump’s new tax bill. Those who previously deducted $50,000 or more for property taxes are moving ownership of their holdings to Alaska, where the tax is $0. Building and administering the trusts could cost about $20,000 plus you have to put investment assets in the trust that will generate enough income to balance out the $10,000 deduction. So this option will not work out for most taxpayers in the affected states. They will carry the load for the wealthy again. With a $20,000 property tax bill, the average homeowner will need to pay a larger chunk to cover Trump’s tax breaks for the rich.

Use your tax credits: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Another way the wealthy avoid paying their fair share of tax

Feds just charged 4 people with helping the wealthy avoid US taxes using a law firm in Panama. The charges come from journalists getting records from the Panama Papers. One method: lawyers set up a fake investment into which a rich person could get the money out of the country. Then lawyers created a paper loss so the transaction could be called a non-taxable loss. The original money could then be returned to the US without a taxable event reported to the IRS. The rich could then use the untaxed money to buy a hard asset like a mansion with no questions asked.

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

This is how Jared avoids his fair share of taxes

Like papa, Jared uses other people’s money to buy commercial real estate. He pays himself well to run the business at a loss created from using the 'virtual' expense of building use and aging called depreciation. The losses mount up over the years and are added to this year’s loss. He earns $millions but never pays tax. We taxpayers actually give him a refund. Here’s an example from 2015. W-2 income: $198,000. Taxable interest: $536,000. Dividends: $1,000. Capital gains: $974,000. Deductions: Tax losses from real estate and other partnerships: $3.5 million. Tax losses carried forward from previous years: $4.8 million. Total adjusted gross income: Negative $6.6 million. Tax refund $4,000. A new Jared property just so happens to be located on one of papa’s US Opportunity Zones for another tax subsidy in Jared’s future.

Make your own Tax-Free empire: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

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

Make America, “The Don”, Great Again

Senile Psychosis

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

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

J F Kennedy was 43 when he beat Nixon

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

Your tax dollars pushing right-wing conspiracies and hate of Jews

Police paid by us for protection, not sadism: ‘It’s still a blast beating people’

Medicare for all can save our lives and eliminate the waste. Rich must pay their taxes.

US now exports oil: Saudi dictator can now be sanctioned—Trump need not fear him.

GOP to give Trump $25 billion for wall that drug smugglers just travel under. Fake issue

EPA (Coal lobbyist) cancels coal regs so additional 15,000 people will die needlessly.

SCAMS/SPINS:

This is what the Trump ‘swamp’ really looks like: 3 swampers took $148 million.

Danard Brown Legend Securities caught ‘churning’ account for fees—fined, no jail

OptionSeller caught losing options customers $35.3 million they must pay back. Jail?

Bart Posey TN caught selling 17,000 fake health insurance policies: jail time.

Shoe store prank proves we know NOTHING about value vs price. Low fees wins.

Trumper attacks Mexican American tire store owners: Mormons killed hate-crime bill.

“Trump creating “new liberal order that prevents war” Sec State tells Europe. Crazycrazy

GOP tampers with votes again: it’s the only way to win with no credibility left.

GOP pays $100 for absentee votes in North Carolina. Republicans desperate!

Promoting cybercoins on social media can cost you $750K.

Scammers favorite time is tax time. Forward to IRS for verification.

BB&T bank caught forcing own employees to pay more for BB&T funds.

Wealthy men follow Pence to avoid women instead of treating them with respect.

BEWARE: ‘Free’ annuity dinner can cost you $hundreds for the rest of your life.

Loan sharks have turned legit: miss a payment and you wish you were dead: Boiler Room

State Farm bank caught misusing consumer credit information

Village Capital, NV caught misleading veterans on loan terms and rates.

Advisors who filed bankruptcy recently might cause you pause at your account.

GOP: TX state platform head: ‘I’m a WHITE NATIONALIST and very Proud of it.’

The ‘Leader’ violates every legal protection under the law: Obstruction and Tampering.

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.

Supremes protect Don’s ‘Orders’? – GOP: Sure, pres can change Constitution anytime.

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Jobs:

Corporate and wealthy tax cuts have added 15% to the national debt in just 2 years.

Playing ‘chicken’ with our money AGAIN: Congress!  Do your job.

GOP pays $100 for absentee votes in North Carolina. Republicans desperate.

Jobs starting at $79,000 and few takers?

Who owns your account now?

OptionSellers.com’s disastrous gas options loss: clients owe brokers $35.3 million.

Start collecting your deductions now and file early Feb 15 for quick refund.

4% on your checking account? Are they crazy? Read details if it is for you.

Safest way to lose your future retirement nest egg: any of  these 10 ways to go wrong.

Brokers you might want to avoid: Check their history at BrokerCheck.

Credit score you need to buy car, rent, etc.

Miracle:

Just in time … after losing everything in Paradise

How did they get that shot? 100 Best Photos by National Geographic Utah's Bears Ears!

Michelle tells women they just need confidence—everyone else is not really that smart.

Blood test can detect cancer in 10 minutes. 90% accuracy for early treatment.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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