How quickly can your account rebound from this correction?
Depending on how much of your portfolio (401k, 403b,
brokerage, IRA, Roth IRA, etc) is in stock assets, you could be down 7% or
more. A 500
Index fund is still up 8% over a full year while the Vanguard
Wellesley Income fund (60% bonds) is up over 9% over 1 year. Your broad
diversified asset account may take less than 6 months to get back on track.
This is exactly why you invest in different types of assets. You don’t suffer
big losses or big gains from any one shock. Over time, stocks produce better
returns than bonds or cash or gold or e-bits. If you consider stock investing
as gambling, you may have to wait a long time to hit another jackpot. If you
consider stocks the safest investment you can make over time, you won’t have to do
a thing. If you played your last chip in February, you must now double your
bet to get back even. If your stock fund represents your ownership of many
businesses, most will keep working through any panic. Buffett:
I never attempt to make money on the stock market. I buy on the assumption
that they could close the market the next day and not reopen it for five years.
How can you determine how much your advisor gets paid?
Since there is no
industry standard or database for commissions, fees, retainers, kickbacks
or other forms of payment, you will never know exactly what your salesperson
actually earns. They could create
a loss in your account and still charge you $3,000 a year. Recently, one
of the sources of information was partially closed. The CFP Board told
financial planners that the compensation information was “not very specific or
helpful to consumers” and that the best way for consumers to select an advisor
is “to have a conversation with their prospective advisor.” But we can’t
interview 10 prospects without knowing something about how they charge. “We’re
trying for more transparency as an industry, and this is less transparent.” The
CFP Board’s consumer website, LetsMakeAPlan.org, is part of a public awareness campaign. Some
advisors think the group may have caved in to the whims of the brokerage
industry, many of whose advisors also carry a CFP designation. The Board was
criticized for not properly disclosing things like customer complaints and
criminal or regulatory problems for thousands of CFP designation holders on its
consumer website. It took me a long time to find an advisor that charged only
a fee for a financial plan/advice for a client. Most charge 1-2%
annually of your balances plus fees for packaged products like annuities. It’s
your money.
Buy unbiased advice: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275
How much government do we want?
Elections are about choices: what to do with our tax money?
If you believe social benefit programs are needed to help people you vote
Dems in. If you believe corporate
and wealth benefit programs are needed to help
business and the asset class you vote GOP. Socialism: Trump
is now helping some businesses and not others. Welfare
for the rich or welfare for the poor, both have succeeded in driving up our
public debt and the size of government. Subsidies
to the elites and to the needy have never been contracted only expanded.
Why are we still providing oil,
coal and gas subsidies to profitable companies? Trump
pays oil/gas companies when the oil/gas market price falls. We don’t get a
bailout for our fuel oil/gas bills. Why have we allowed corporations to pay such low
wages (same as 1973) that full time employees
must beg for food stamps to survive? Why doesn’t government protect us from
unwanted robo calls, opioid drugs and nicotine e-cigarettes?
We allow the wealthy
to avoid taxation through expensive tricks we can’t afford. When will
everyone pay their fair share for their subsidies? Only
now is Washington State repealing Boeing’s subsidies. Why is a ‘capitalist’
system paying profitable companies socialist subsidies? Give bailout to taxpayers!
Pay your fair share: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
SEC lawyers create more obscure annuity ‘disclosure’ form
The new “reader friendly” variable annuities summary
prospectus and rules were supposed to improve investors’ understanding of the
complex contracts but actually prove the need for real-ife testing. This
charade “illustrates why we
shouldn’t leave the job of developing disclosures to securities attorneys.
The model they developed based on the proposal is 16 pages of small type and
legalese,” CFA Director Roper said. “Had they bothered to test it, I am
confident that they would have learned that much work was needed to make these
documents both more readable and more visually appealing. But they weren’t
willing to do that, perhaps because they didn’t want to hear what investor
testing would have told them about the need to go back to the drawing
board." Insurers were thrilled with the way SEC lawyers can obscure the
tricks insurers use to make sure an ordinary person could never understand how
their annuities work.
Insurers can never lose money: https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573
File your taxes for free
TurboTax and other for-profit tax prep firms are due to raise prices soon.
If you have your documents, use your favorite software now and pay your tax due
on April 15. The payment, if any, can be in April; the filing should not. The
federal and state can cost you nothing at https://apps.irs.gov/app/freeFile/.
Another site has no cost or restrictions: https://www.creditkarma.com/tax. And
remember you can usually reduce income and thus tax by making a deductible
contribution to your IRA.
Filed already: refund status: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
Save for a long life: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793
**********ACCOUNTABILITY**************
Like 1776, this period
is a test
of democracy—do we really want ‘low-IQ’
Mobster?
Mob Boss: my employees see “I
have natural ability” in medical expertise.
How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!
This
is how the GOP plans to stay in power? Is 6 hour wait enough to forsake
democracy
IRS to delay tax filing deadline so refunds
can be used for corporate bailouts
National Emergency? House
Dems act to get help to people directly
SCAMS/SPINS:
China says new corona
cases falling: open Wuhan airport shortly?
Aliera Healthcare deceived
buyers of health ministry plans with few benefits.
Judith Negron caught
Medicare fraud $200 million from elderly set free by Mob Boss.
Michael Williams
Kinetic caught
raised $39 million fraud: promised high yield
Epidemics
are usually not included in standard travel insurance coverage
“It [The Hoax] will
go away. Just stay calm. It will go away,” Dr
Trump said
Trump cancels CDC
advisory to seniors: fly at your own risk of corona
"There's
no good reason to use masks except you think you're doing something”
Pence claims corona
more lethal than flu: expects “thousands of more cases.”
Flu
18,000 deaths so far this year; coronavirus 3,347 so far this year.
Farmer warns pig-castrator
Sen. Joni Ernst’s past votes to repeal
the ACA hurts him.
GOP voter
suppression: GOP
keeps black Kansas City Mayor from voting:
Jobs
Who owns your account now?
Which
medical clinic is best for you? Walmart vs CVS?
Miracle:
Older adults were 67%
less likely to die of any cause if they walk 30 min a day
IAN
41 Watchung Plaza,
B242
973.746.2014
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