Cutting recurring costs can save you a fortune

 

Can you take out 10% of your nest egg each year?

Some baby Boomers think their advisors would recommend this amount to be withdrawn each year in retirement. “Today’s low yields on bonds and high equity valuations mean ‘retirees are unlikely to receive returns that match those of the past,’ Morningstar says.” Fidelity said that over the timeframe of about one century, a 4.5% withdrawal rate would have lasted throughout a 30-year retirement in about 90% of the periods analyzed. Because that is an average, you must consider your specific situation before assuming you can spend 4.5% each year. Low earnings, inflation, your health and your family longevity must be factored into your best case scenario. If the bulk of your retirement funds are in qualified accounts (traditional IRA), your mutual fund or brokerage firm uses the IRS RMD worksheet to do the calculation for you. Their tables use an average withdrawal rate of less than 4% of your previous year’s combined total qualified funds amount each year. Thus, if your investments shrank, your RMD amount will be lower. You need to learn the factors that change your prudent annual spending amount. 

Learn more: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

 

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

 

Quickest ways to save $3,000 a year

The Federal Reserve's 2019 Survey of Consumer Finances (released in 2020) found that the average, or mean, account was just over $255,000. The average cost of using an advisor or broker was 1.5% a year or $3,825. Since most financial sales people can NOT guarantee higher performance than the actual markets, most of us are better off leaving our money in a low-cost index account. Managed accounts earn only 3.79% vs 11% for an index account. For specific money management solutions, a one-time fee-only planner provides better advice since it is unbiased. Moving accounts is easier since a trustee to trustee transfer is usually free and not a taxable event. Another way to save $3,000 a year is canceling a loan to the US government. The average tax refund was $3,304. You will not incur a penalty if you owe less than $500 each year. So if you reduce your paycheck withholding by $250 a month, $125 a pay period, you will be able to increase your investment account by $250 a month. This creates $3,000 a year or about $200,000 extra in your investment account in 20 years.

https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072

 

Cutting recurring costs can save you a fortune

During this period of high inflation, it is important to note how much certain expenses really cost. Just as I noted above, saving $3,000 a year on your money management can really put huge amounts into your account. One reader was paying 2% of their nest egg each year for their advisor to check their statement quarterly. They moved their money to Vanguard and accumulated an extra $350,000 during their pre-retirement years. They were not only giving away 2% a year, they were losing the gains from that money. This “tyranny of compounding costs” applies to all of our recurring costs. We used to pay extra insurance premium for collision coverage on all our vehicles. We paid $ hundreds year after year until we realized our coverage would NOT pay enough to repair our older cars. This fact led us to take our policy apart so we paid only for the liability required by law. We did not need standard mileage, collision, comprehensive, gap, towing, temporary rental, health care, disability, accidental death, dismemberment, personal injury protection (PIP) and uninsured motorist coverage (UM). We then went through all expenses—cable, internet, life insurance, periodicals, etc to find more savings.

Save big: https://www.amazon.com/Get-What-You-Pay-financial/dp/1492384100

 

Another way the wealthy avoid taxes we can’t

One of the easiest ways the super rich can avoid taxes is by having the assets they donate to a tax exempt organization appraised for very very high amounts. Today Trump’s favorite property appraiser was asked to stop holding up the investigation by the New York Attorney General. Trump took a $21 million tax deductions on his tax returns by having his appraiser value the forest in front of his mansion in upstate New York so high: it’s impossible by law. Our Congress people let folks like themselves reduce their taxes by claiming a deduction for their $million gifts. They give art, land, houses that they have appraised at future or improbable values. Trump promised he would not develop the forest on his property in his retirement years. That development is not possible. This is one reason Trump is under investigation. His appraiser based the value of his property on the possibility that 24 mansions would be built and sold. Local officials have laws against such a venture. Rich people in the area don’t want the ‘low-life’ crowding the back roads and markets. So if the appraisal was faked, Trump will owe New York and USA millions of dollars. Trump’s lawyers may delay paying for years. He may end the IRS probe in 2024. Meanwhile, don’t pay the shortfall for the rich.

Use your tax-Free IRS account: https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup: criminal

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

“I don’t f—ing care that they have weapons”

 

Trump “detached from reality”

 

Trump used mafia intimidation on the defenseless

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta

 

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

How Govt wastes our money:

Christian Nationalism: evangelical ideology attacks our institutions/lifestyle/politics

Alito: abortion not in constitution: cites 1600 Hale who burned witch, favors marital rape

Feds threaten woman in her home for angry tweets attacking government

States control our personal freedoms: control guns, books, sex talk, vote, prayer, birth, etc

 

FL starts arresting educators for talking about sex preference issues: 1^st Amendment end

GOP primary winners don’t question own elections but dispute Biden’s win: Fascism?

Most Americans, Across Party Lines, Say Government 'Corrupt, Rigged'

Rich buy votes to kill their taxes: IRS manipulated to ignore rich taxes: hurt poor & foes

 

GOP: show a birth certificate, passport, Fed ID, in order to vote even if already on rolls

 

EPA no authority to reduce emissions, global warming: only coal-baron Manchin can

Judge: drug pushers not responsible for opioid saturation WV: addict & doctor did it

309 mass shootings ½ 2022: gun laws not effective: all kids can buy WMD war gun

 

SCAMS/SPINS:

“Slavery” in TX: “involuntary relocation”: Texas tries to ‘brainwash’ children on history

Who Will Care for unwanted Babies? Supremes no; evangelical Christians no; TX no ?

TX uses 1925 law to make women have kids: no choice with doctor: jail likely

 

White nationalist group march along Boston’s Freedom Trail : fascists use Old Glory

Independence Day massacre: impossible for good guy to stop 80 rounds in a minute

 

Brave staff assistant already been threatened: is John McClane available?

IRS used as weapon by Trump: FBI heads targeted for deep audits: no fraud

Trump’s Supremes target liberal agenda since 1960s: reverse precedence; upend customs

Tucker, race “replacement” mouth, says not racist: gives fascist insider info

 

JPMorganChase traders caught ‘spoofing’ racketeering/conspiracy manipulate markets

Joshua D Nicholas caught crypto scam conspiracy securities fraud.

Robert Louis Cirillo CA caught steal $3 million promised high construction loan returns

Megan Hess funeral home owner caught selling body parts: victim’s family in dark

Insurers & advisors pressing Congress to make it easier to tap retirement funds at work.

IRS cracking down on charitable remainder annuity trust (CRAT) abuse.

IRS warns: Companies who promise to eliminate tax debt may sell you out

 

 

CVS takes “opportunities to hold off generic (drug) competition.” Seniors pay more.

Zelle caught deceptively marketing: big fraud problem: no reimbursement

Buy Now, Pay Later plans caught misleading loan terms: long-term burden

 

Jobs

Jobs disappearing: https://www.bls.gov/emp/tables/fastest-declining-occupations.htm

Half of millennials would quit if asked to return to the office full-time

Mass murderer passed checks AR 15, ‘quiet kid’: bring back draft; give kids a real life

 

Brown shirts: Abortion police to track down all the doctors, law breakers and taxis, etc

 

Who owns your account now?

Internet coming to trains, ships, and other vehicles using SpaceX's satellite internet

Benefits for seniors that are not advertised: https://benefitscheckup.org/

New car buying questions guide search for best deal: Feds push national sales standards

 

Cars have been made too distracting: highway deaths up

Park short-term money in short-term bond fund: 2.4% SEC yield

 

Miracles:

Cancer victim now cured after new drug: life after death sentence

Transforming windows into active power generators has just edged one step closer

Sand battery' can store energy for months: sun don’t shine at night

 

July 6, 1957, John Lennon met Paul McCartney at a church social: God loves music

Quantum computer completes 9,000 Years of Work in 36 Microseconds

 

100 people have died in extreme flooding in Bangladesh: France Portugal on fire

Warming: 50,000 people in Sydney told to evacuate their homes: climate shift

 

600 monkeypox cases confirmed in the United States: UK, Germany lead

 

Vatican shakeup: Pope names 2 women to Bishop Committee: espresso gophers?

 

 

Why Vets waited 55 years for honor by US? Must be incontestable proof! Ask Biden

WH reply: “We take careful note of the suggestions, thoughts, questions, and stories”

 

 

 

@

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/

 

 

How can you leave more to your kids?

 How can you leave more to your kids?

GOP killed the “stretch” IRA that allowed us to leave our unused retirement money to our kids. The ‘stretch’ allowed them to take the money out over their lifetimes. GOP needed to ‘pay for’ an immediate tax bonus to the wealthy. So now our kids will need to pay tax on the whole IRA amount within 10 years after our death.

What can we do now? We still have the tax-FREE Roth IRA conversion to consider. This requires us to pay tax before we die. We can do it in chunks so it can be manageable. Other options: expensive life insurance, stepped up asset, gift to 529 college account, gift tuition, gift cash, and charitable gift annuity.

https://www.amazon.com/What-do-with-your-RMD-much-spend/dp/1718946716

 

A balanced fund may be your best bet in a storm

We are impressed by a fund that has lasted 50 years producing 9.7% per year with few bad years. This fund has 65% bonds and is actively managed. How many mutual funds have been successful for that long? I guess less than a handful. A recent study showed that carrying a portfolio of a higher stock ratio may not provide higher returns. It does increase the volatility. For retirees and those who see hard times ahead, this may be the place to be for now. Vanguard is famous for index funds but John Bogle, the founder, brought this one from his former employer to Vanguard for good reason: quality, integrity and stewardship.

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

 

6 essentials of auto claim reports

No matter how trivial your accident, be smart. Protect yourself from unseen damage/hidden injuries by making a report right away. Think like a lawyer: the other person’s lawyer. First, report asap. Later their lawyer can’t say “They aren’t really hurt since didn’t report for weeks.” Second, take pictures of condition, road, weather, etc. “Damage not done in accident.” Third, document your loss completely. “There was no laptop and camera in the car at the time of accident.” Fourth, get diagnosis of your own health damage. “They said they were fine when I talked to them.” Fifth, answer questions truthfully. “They couldn’t have had son driving since he was at football practice.” Sixth, stick to facts: don’t offer extra info to other side. “They told the adjuster they had been driving for hours.” Finally, don’t try to outsmart the folks who do claims everyday. Lower your rate by asking for every discount with your new policy.

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

 

Did you leave money with a bank, utility, landlord, IRS or employer?

Millions of folks are hurting for money now. It is worth your time to check all your past deposits for money left by mistake. For instance, I found $450 at my parents’ bank after they passed. As executor I went through all their stuff and found money they forgot about. Since it was in a CD earning little interest, I distributed it to my brothers and me. You can pay to have a firm search for you but try going to the state treasurer for the states you have lived in first. Most states make institutions give the unclaimed funds to its treasurer after a number of years. Florida says 1 in 5 of us have left money somewhere. The federal government also tracks unclaimed property such as tax refunds, pension funds, and unredeemed savings bonds that are no longer earning interest. Unfortunately, there is no central database for locating all forgotten funds. A good place to start your search for federal unclaimed property is the IRS. You’ll find important information on how to claim forgotten funds from the IRS here. Also Savings Bonds stop earning interest so you need to cash them at your bank. I found 3 sitting in a desk drawer.

Save on all your accounts: https://www.amazon.com/Stop-wasting-3000-every-year/dp/146108394X

 

Why costs of our investments matter

What happens if we pay 0.04% or $4 vs 2% or $200 a year on our $10,000 investment over our working years? We can give away up to 63% of what we could have had. If our investments are focused on growth, we might end up with $740,961 instead of $1,243,368. That assumes we invest $3,000 a year for 35 years in a stock fund. If our investments are focused more conservatively, we might end up with $185,854 instead of $357,958. There will be a big difference in our retirement income since inflation will take its toll on the lesser amounts over our possible thirty-year stretch. This does not include the effects of cuts in Social Security benefits and higher health care costs.

Be prepared: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

 

Did your advisor steer you to that bad fund because of free meals?

Bank of America just announced that the bank's nearly 17,900 advisors can no longer accept free golf games or many meals from product and service providers. Yes, the secret to Wall Street selling success is OUT. I remember being told early on that “products are sold, not bought.” I learned quickly in my career that we were to push certain products so we could go to the Caribbean, golfing in Naples, and casinos paid by vendors. Products with higher fees and lower benefits had to be sold because the firm needed revenue. This is why the industry paid to have Trump reverse Obama’s fiduciary rule as soon as he got to Washington. Unfortunately, you may be stuck with a bad fund and we doubt that those BoA advisors aren’t going to get “comped” somehow for sales of less than the best.

Buy the best: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

 

Why is Vanguard Group eating Wall Street’s lunch?

Vanguard Total Stock Market Fund has grown by $200 billion since March and is on track to cross the $1 trillion mark in December. Of the world’s top 10 mutual funds, why are they all passive index funds except one? Only one is actively managed by Wall Street gurus. Vanguard funds are owned by us—its retail investors. There are no owners like Fidelity’s Johnson family—one of the wealthiest in the world. John Bogel, founder believed in ‘stewardship’ of other people’s money—opposite of the goal of multi-million dollar salaries/fees. If the stock market provides 10-12% a year over time, we get to keep all of it. We don’t give 2% to those who don’t take the risks we do. Investing is about being rewarded for entrusting our money to profitable companies, not helping the middlemen become rich. Some investors think hedge funds can beat the market and they do for a short time. But they can lose money as quickly as they gain it.

We took the risks: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

 

 

 

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

 

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

 

Philly DA: we have an “authoritarian dictator."

 

Dictator declares ‘war’ on blue states

Dictator on chaos: 300 million guns; 10 million AR

Dictator: “Why should I go to that cemetery? It’s filled with losers.”

Dictator: Taxpayers will pay my rape case damages

Dictator on killer virus: “I wanted to always play it down”

Dictator: Nobel ‘Peace’ Prize winner?

 

 

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

Today’s US news looks like a story about a heavily armed military in the Third World

Trump made workers poorer: most of us making $50,000 got $307 less in 2017 vs 2016

Folks making $200,000+ increased 20%; folks making $10 million+ increased 37%

 

The sharp decline in IRS auditing means tax cheating has become much less risky.

Folks making $1 million+ but paying NO income taxes soared 41% under new Trump tax

Wealthy take PPP business loans but never recall or rehire workers back: Wasted taxes

 

We are paying for Trump’s rape case expenses: How many more cases are there?

Stimulus payments will come closer to Nov 3: watch for celebration by Congress Nov

Stimulus payment paid to Austrians and others who used to work in US: Citizen got $0

 

Army wasted $ millions on ‘walking’ robot …because Pentagon saw Star Wars movie?

Trump’s Medicare head spends $6 million of our money to improve her personal image

 

SCAMS/SPINS:

Scam: Authentic virus contact tracers will never ask for your Social Security number

Newark NJ is model of virus suppression: tracing worked: 86% residents are minorities

 

PO head got job by using his employees to pay Trump for election: illegal, Mr Barr?

Record number rejected ballots ‘trump’s’ voting: signature match is purely subjective!

GOP in charge of counting votes: GA illustrates how Trump can call election “rigged”--not leave 

Trump blocks mail-in ballots in NV, WI court delays mailing out so votes not counted

 

Trump asks trumpers to ‘pack’ polls: “Watch all the thieving and stealing and robbing they do.”

 

For votes Trump bans drilling in FL SC GA : cuts EPA rules/fines everywhere else

For votes Biden quietly assures Wall Street to continue to fleece us: “follow the money”

 

FBI theory: Trump as Putin’s Manchurian Candidate: POTUS motivated to help Putin destroy US

Trump admits lying about virus: kills hundreds of thousands: "I wanted to always play it down."

 

Scam: Beware of a text asking you to "confirm for delivery" for a late package. ID theft

Instacart DC caught taking $ millions in deceptive service fees 

US Air Ducts DLM Services WA caught deceptive adverts/robos, fake reviews, $10 mil  

 

Steven Rodemer CO caught stealing $451,889 from client; promised investments no jail

Hai Khoa Dang CT caught defrauding couple's $2.2 million promised conservative trades

Encore Capital CA Midland Funding failed provide borrowers with proof; 2^nd time; no jail time

API Recovery Solutions, Warner Location Services, etc caught deceptive debt collection

57 people caught stealing $175 million from the PPP virus program for small business

Josh Bellamy Jets caught $24 million scheme to defraud the PPP virus program

 

250,000 coronavirus cases have now been tied to the 10-day Sturgis Rally event

Advisors charging extra fees SEC warns: check confirms/statements: you take the risks!

UBS Plans Higher Fees To Push Rich Clients Out Of Cash: low interest=no revenue 

PO continues to slow pharmacy order: patients (VA) panic when meds sit in PO:

President ‘United’ States mislead us into 200,000 deaths by waiving responsibility no jail

 

Recalls 203,000 Hyundai Santa Fe; 440,000 Kia Optima & Sorento 2013-15: engine fires

Vaccine not a cure-all for everyone: history shows not perfect or effective: 2021-2 masks

TurboTax caught misleading customers regarding free filing: tricked us into paying

 

Drug companies promise to make ‘good vaccine: same folks give us bad meds/high costs

 

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

 

Jobs

100 best jobs: salary matches skills—college needed for most; community college assoc.

Most workers say ‘retirement’ is NOT a full time job: 60% boomers keeping their jobs

 

 

Who owns your account now?

Cult membership knows no bounds: he would cancel sick brother’s insurance for a win

Cult leader knew thousands would die and mislead them: Jim Jones is shocked at 200,000

Cult of NJ white nationalism revives 1950s “Better red than dead” for “Better dead than red”

 

MassMutual’s retirement business to Empower: retirement services record-keeping assets 

 

Miracle:

Tech helped blind person run NY City Marathon unassisted. Vibrates when off path

Judge tells Census to keep counting; don’t listen to Trump

Woodland Hills LA reached 121 degrees at about 1:30 p.m Sunday: highest ever

CA fires started when parents reveal the gender of their child: childbirth is miracle

 

Many in my family served/are serving this country and are NOT “suckers” Greater love hath no ..

Evil: leader of country knew thousands of citizens would die but tells them: “it will disappear”

We have lost Two-Thirds of our wildlife In 50 Years: species declined by an average of 68%

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Why are target-date funds so popular?

Is putting off retirement right for you?

A quarter of Baby Boomers plan to postpone their retirement. The virus pandemic has changed a lot of lives and plans. If you start Social Security benefits you cannot go back. Previously this was allowed. This makes your decision all the more important. Many will wait because they do not wish to begin taking retirement money from an IRA or pension now. Studies have shown that doing so can hurt you in later years if you have a big reduction in your nest egg immediately. If you have 30 years in retirement, you don’t want to begin with a bad 1^st year. Also, this is one of the worst times to buy an annuity since future benefits are calculated on the current very low interest rate. You could only receive $437 a month for life in return for your $100,000 if you were male age 60. On the other hand, if you had to retire due to job shut down, you could receive $896 a month for 10 years in the hope you would be better situated later. Delaying SS benefits to age 70 provides a much larger monthly income: $3,790 maximum for someone who files at age 70 compared to $2,265 maximum for someone who files at age 62. Maximum benefits require higher incomes for your final 35 years of work. The average benefit is $1,503. Also remember taxes are due on up to 85% of SS benefits if your total income is higher unless you have tax-FREE Roth IRA income.

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

With the virus passing 4 million, what can you do to save your nest egg?

If there's anything you should expect out of 2020, it's volatility and unpleasant surprises. Most people are checking their account more often and that is a recipe for disaster. Panic selling is what happened in 2007-8. The stock market fell 37%. Some investors think they can avoid the market drop by selling. But your advisor doesn’t know when the market will come back as in 2009-10 with 27% and 15% growth. We can’t control the virus or the market so we must focus on our nest egg end time. A stock market index fund is the only asset class that has proven 11% returns over time. Wealthy investors in hedge funds etc have a really bad record of losses. They can afford to take a chance on alternative assets; we can’t. Warren Buffett, one of the most successful investors, says holding a low-cost stock index fund so we take advantage of compounding earnings is the best way to protect our nest egg, rain or shine. Costs are all we can control.

https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

Is buying the ‘hot’ fund now right for you?

Advisors and young investors try to pick the ETF funds that are rising or will rise during the current conditions. They want to ride the wave to the top. Problem is: momentum trading does not work. Over time, picking the hot security usually results in disappointment. Why? No trend lasts for long. With index funds of all types, the past trends have been changed—watered down. Be wary: past performance is no guarantee of the future; only the hype. The owners of Wall Street firms are great at the hype. What else do they have? They don’t have a predictable product nor a person who has golden hands nor a crystal ball nor a way to control the underlying factors nor a magic wand. All they have to make the sale to you is the B.S., the “story” as my firm’s FCs used to call it.

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

Why are target-date funds so popular?

Short answer: they use the three best investment strategies available to working people. First, they are usually low cost. This means that over time, you don’t give up over 60% of  your earnings to sellers. Second, they use compounding—the miracle of compounding—earning money on money by itself. Third, they usually hold index funds which can provide 11% earnings from many profitable companies—you are diversified. The added bonus is that as you get closer to retirement, your assets and contributions become less volatile—from 90% stock to 30% stock balance. Unless you are wealthy enough to loose 1/3 of your wealth in a derivative or leveraged hedge fund, this one fund decision is all you need to be a successful investor. It just takes time. Warren Buffett recommends it.

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

Perfect time to convert part of your IRA to a Roth IRA

If your income and thus taxes will be lower during this pandemic, converting taxable future income to tax-FREE future income may make sense now. If you are over age 59 ½, you can take out IRA money with no penalty—just extra taxes—at lower rates than future years. If your income and tax burden allow it, taking any amount--$10,000, $20,000 even $30,000 from your future retirement account is a smart move now since all the earnings in the future will be tax-FREE. Even if you are in retirement now when you do NOT have to take your 2020 RMD—forced IRA distributions—your tax liability will be less this year so you can afford to take and pay tax on a chunk of your IRA. Because the stock market is still positive, you can convert your stock IRA money to future positive income with no tax in the future. Many advisors see higher taxes in the future (to pay for the Trump tax cuts to the wealthy and virus expenses). You benefit two ways: take advantage of lower current taxes and avoid paying the increase later. You will pay less tax later as you take out smaller traditional IRA distributions AND your future taxable income will be less. Roth IRA balances can accumulate for your whole life without distributions or tax payments. You may be able to avoid income tax on your Social Security benefits too.

https://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951

How the super wealthy—$100 billion—avoid income tax

Zuckerberg’s net worth just passed $100 billion. Can you write $1,000,000,000 one hundred times? He joins Jeff Bezos and Bill Gates in the clouds. Zuckerberg’s net worth is largely derived from his 13% stake in Facebook. Since these guys and other uber gelt holders do not have to take a salary, they have no taxable income. Think of that! Like the old Robber Baron times, they can sit in their home offices and clip coupons/dividends. Yes it is possible to pay no taxes. Our president claimed that he pays no income taxes too. However, we know he owes a lot so that may be how the wealthy buy things—they live on loans. So Zuck, Jeff, Bill and Don can just text their bank and get a loan every year to pay for maintaining their lifestyles. You don’t pay income taxes on a loan. They also don’t pay for the public services they use—airports, roads, courts, army navy air force. We pay for those on their behalf. Because their companies pay for most of their ‘overhead’ private planes, health insurance, gym, body guards, meals, etc, they don’t need to pay much “out-of-pocket” expense either. We pay for that when we buy stuff.

What a life: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-taxes/dp/1539462382

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

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

Philly DA: we have an “authoritarian dictator."

Dictator: Supremes picked to delay/overturn election like Hong Kong

Dictator: no press at GOP meeting

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

Trump’s DHS secret police compile secret files on journalists, reporters like Russian KGB

Supremes let Trump take money needed by military to build his WALL: contractor win $millions

Census not counting all as per Constitution: est. 37% not counted, Dems lose Congress seats?

Congress takes vacation all August while we wait for help with virus keeping us from working

$419 millions relief money went to subsidiaries of foreign firms: Trump’s PPP watchdog fired

Trump’s promised health care plan is dead: millions lose employer coverage in July

Trump tax reform benefits wealthy who hold foreign assets over US assets: we pay their taxes.

Eviction, loss of relief $600, job not re-open, virus threat, school?: government fails many.

Testing slows as deaths rise in hard hit states: will schools test every child before spread?

How the “swamp” works under Trump: DHS head gives contracts to his former lobbying clients

SCAMS/SPINS:

Trump’s new voter suppression strategy: delay mail-in ballots so invalid, not counted

Virus is making medical firms wealthy: $175 test? Plus add-ons $2,479. Medicare for all!

HALF kids at GA camp infected, most positive virus tests were 6 - 10 year olds. School?

TX does not count positive virus tests: rapid-result tests ignored: Thousands spread virus

Trump voters believe Trump handled virus pandemic ‘well’: 160,000+ dead so far!

Trumpers threaten Fauci, his family because he gives respected scientific info not B.S.

One man not sick infects 91 +: it is called pandemic for a reason: symptoms in 10 days

Trump in cognitive dissonance: changes to favor mail-in ballots: last week--against it!

Trump: Biden opposes God, Bible, religion, guns, energy, rights, everything American?

Will US election be decided by foreign influence? Adverts, fake news, bribes, hackers?

Kanye West schill for Trump to get votes from Biden: GOP paying to help West in CO.

Consumer defense agency became consumer exploitation agency: loan interest to 500%

Consumer products shrink so we get less for same price: they think we don’t notice

Brian Scroggs, VCS, Transfer Group, Real Travel failed timeshare relief: kept payments

Netflix phishing scam: steal credit card info by tricking you into updating your account.

Gov agency scam: caller ID, agent number, military romance ask for money to get grant

Victor Lee Farias Integrity Aviation stole $14 million Ponzi engine parts leasing scam

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

Jobs

Materials Handler US Treasury Philadelphia, PA $22.10 an hour https://www.indeed.com

Immigrants constitute 40 percent of home-buyers and help create new jobs.

Who owns your account now?

Check your Social Security statement for correct earnings: it determines your later benefits

Best Cars for Teens Under $20,000: CR picks safe, reliable used cars and SUVs insurable.

Best appliance brands: CR Appliance Brand Reliability Rankings: no “get what you pay for”

States Pull Back On Pension Payments: state budgets don’t allow pension build up now

Miracle:

White cop not charged in Michael Brown’s killing: shot 6 times but “no proof”?

Wisconsin governor orders masks statewide amid virus surge despite GOP objections

Billionaire pays off student loans: continues family tradition of giving

Flu, pneumonia vaccines could lower risk for Alzheimer’s 

Missouri approves Medicaid for ½ million despite 10 years GOP votes against it

Virus tests (quick version) are NOT accurate: OH gov negative then pos then neg.

No-Mask school halls: perfect infection atmosphere: almost like gov wants sickness

Germany doesn’t need us to stop Russia: We did not stop Russia in Crimea/Ukraine

IAN

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