tax-FREE retirement income

 Make your retirement nest egg tax-FREE

Because the wealthy have many ways to avoid paying their fair share of taxes, we will have to carry double the burden for the rest of our lives. Exhibit 1: Trump paid $750—paying more to China, Panama, India, Philipines, etc than to US. Not only do the wealthy avoid paying taxes, the corporations they own have paid $0 taxes for many years. So are there any LEGAL accounts we can use to avoid taxes, especially during our more vulnerable years in retirement? We can’t live on Social Security benefits alone so we need to make our savings and pensions worth more—FREE of tax obligations. There is still a way for us to avoid having to pay off the federal debt ourselves. We will have an extra 20-25% in retirement income when we need it. This legal saving and investment account costs little: free of lawyers, accountants and money manager fees. We don’t have to go offshore, use fake empty shell entities, or play accounting tricks to have more income later. The account is approved by the IRS so we don’t have to fear an audit.

Make your income tax-FREE: https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072

 

Give your child a leg up

Investing is about TIME: starting early can create a tax-free $1 million Wealth Reserve for your child’s security. Yes there are self-made millionaires but the real money is in family legacies over time. Think Rockefeller family. Most of us don’t learn about the Time Value of Money until it is too late. $100 per month in a tax-free account is worth over $1.6 million after inflation in 65 years. How can $78,000, invested over time produce $ millions? When you invest for your child, you are loaning profitable corporations your money. They share the profits as dividends and increases in value over time. “Over Time” is the critical part. Because we can’t predict the next Apple to invest in, we invest in many large profitable companies. Over time, studies show a low cost index mutual fund provides growth of 11% a year. Why “low-cost” is important? Using a middle person can rob us of 2% per year in growth. The myth of Wall Street is that we need middle people to make successful investments. We now know that means we give up 63% of possible accumulation with no guarantee Wall Street will make us successful. Give your child a leg up—start your family legacy today while stocks are down (on sale)

Create a legacy: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

What are your biggest investing mistakes?

No matter how much money you have saved/invested, your mistakes could be the same as those of the wealthy. In a recent survey, they said they did not seek guidance and looked at historical returns. In the past, they said they did not diversify their portfolio and did not have a financial plan. It is very true that times change, but the basic capitalist world still exists. Stocks still earn more than bank CDs, especially in a crisis. The Harvard endowment, valued at $41.9 billion, returned 7.3% in the last fiscal year. You are still better off with a diversified stock/bond portfolio than a money market account. What does Warren Buffett advise? His advice is NOT biased by fees, commissions, kickbacks, broker vacation trips, prizes, packaged-product bonuses, etc.

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

 

GOP’s idea of socialism

Our Federal Reserve, our central bank, is buying trillions of assets to keep wealthy investors wealthy and struggling firms alive. We will be paying the interest for our lifetimes while the investors and managers will be taking the gains. This is the essence of socialism: Private gain, public loss. The Fed has propped up the prices of corporate and municipal bonds, and bailed out “airline bondholders.” According to conservative George Will, “the pandemic has propelled government toward promiscuously picking economic winners and losers. Instead of giving 3.7 Trillion to the rich, we could have fixed our crumbling bridges and saved $ millions in unemployment comp. Meanwhile our ‘leaders’ ignore 30 million who are out of work. And execs of big companies give themselves $ million bonuses while screwing workers, suppliers and investors with bankruptcy. Private gain; public loss: profiting from their own mismanagement crimes, the American way!

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

 

How can we beat the Wall Street “professional” players?

We don’t have super computers, talented analysts, large leverage or fast traders. We only have the facts of investing like Billy Beane did in baseball. He knew he could not afford the famous “professionals” so he listened to a man who knew the facts about how wins happen. He learned that steady slow growth won over a long season. His “expert” scouts quit—his coach did not use his picks. We can win. First, we acknowledge that we have no budget for investing. We can't afford the hedge funds, offshore tax shelters, and expensive Wall Street money managers taking 2-3% a year. We use the strategy of the long-term master, Warren Buffett: We beat the famous over-paid Wall Street stars.

https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

 

Why it is so hard to save for retirement

We don’t make enough money. Since 1980, worker wages have lagged productivity increases. Businesses have found ways to increase their gains while paying less for labor. Since 1979, productivity has increased 69%, while wages have increased 11.6%. Before 1979 wages increased with productivity after WWII. The middle class especially skilled blue collar work in factories paid well enough to buy a home, have children and save for retirement. The American Dream was realized for unionized white skilled labor. More modern and efficient business processes changed all that. Many middle class families had to start working more hours and enlisting both husband and wife for the same real income level. Education replaced skilled labor as the business management became sophisticated. For instance, in the 1980s I had to type my own reports, answer my own telephone, automate information systems and do my own budgets. The “good old boy” salesmen were out and modern statistical marketing was in. In 1976, the new American retirement system was born. It got better in 1997. It can provide tax-FREE income.

Start now: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Why child life insurance is NEVER a good deal

Most of us have received a flyer in our junk mail, Sunday paper or online adverts for child life insurance. The selling “hook” as they call it is simple: buy life insurance now while your child or grandchild is healthy or young. It’s cheap and no tests. When my parents were first time parents, this kind of insurance was purchased as a substitute for saving/investing too. This type of policy grew out of the time in our history when many kids died. Families were larger because farmers needed a lot of free manual labor. Unfortunately, the pitch still works for some insurers and they are making a ‘killing.’ One company in McKinney, TX took in $4.304 billion in 2018. Few parents collected the $30,000 death benefit because very few kids die today. Plus how many parents want to make money from their child’s death? So instead of spending $25 on a policy that makes sure they get “coverage in the future,” use the money to help pay for their education. There are insurers for every illness or accident that may happen. Most young people can buy a $300,000 benefit for $10 a month by age 30. Children don’t need it; you do.

https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

 

Is a deductible IRA contribution right for you?

The rules changed for 2020: IRA contributions after age 70½ are permissible.

The SECURE Act repealed the age restriction for Traditional IRA contribution eligibility. Effective for 2020 and later taxable years, individuals with earned income can make Traditional IRA contributions at any age, not just for years before reaching age 70½.

For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs if you have earned income. If you had self-employment income or W-2, that income qualifies. If your spouse had income and you did not, that qualifies too with some limits depending on participation in a retirement plan. Spousal IRAs: If you file a joint return, you may be able to contribute to an IRA even if you didn’t have taxable compensation as long as your spouse did. Each spouse can make a contribution up to the current limit; however, the total of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the Kay Bailey Hutchison Spousal IRA Limit in Publication 590-A. If neither spouse participated in a retirement plan at work, all of your contributions will be deductible. The annual contribution limit for 2020 is $6,000 or $7,000 if you're age 50 or older. For many of my tax clients, this means they can reduce their income and thus their taxes for 2020 due April 15, 2021.

Alternative tax-FREE IRA: https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253

 

 

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

 

Like 1776, this period is a test of democracy—do we really want a Dictator?

 

Supremes decide election … again?

 

Dictator: “It’s going away.”

Dictator’s chief: “It’s out of control:” 230,000+ dead

Dictator: F*ck Obama: “It’s America’s last climate sanctuary.”

 

Dictator: “I am the only one who can make America truly great again.”

 

Trump wins: have mail delayed and have Supremes void all votes received after Nov 3!

 

 

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy! 

TX using armed troops to intimidate Dem voters in 5  cities

Movie moguls ask Congress for bailout too

Trump biz soaking US $ millions for his $3 glasses of water, bed, snacks, guests, friends

 

We pay $375 million for virus antibody: $1,500 ea and don’t even know if it works yet

TrumpWall maintenance costs TRIPLED: military suffers; no bid vendor is T’s donor

 

SCAMS/SPINS:

Why no Americans are concerned about facts: trust comes from integrity

Even with a job, we are worse off now than in 2008 recession; more folks tap savings.

Can Republican Party survive the election: party with only Trumpism as its principle

 

HALF the 2016 total already voted: crisis: will GOP Supremes make Trump president?

Federal crime to delay mail: why is Postmaster not in jail? Trump’s Supremes stop count

 

GOP 5-3 Supremes back WI GOP cut in vote counting due to Trump’s mail delays

GOP 5-3 Supremes back AL GOP ban on disabled curbside voting law: vote or die?

GOP has been packing state Supreme courts for years: MS abortion ban decided

 

Jared’s plan for Blacks: “they have to want to be successful”: like my pa’s $billion legacy

Social media scams to change our attitudes: “fake tweets are extremely easy to produce”

Trump delivers health plan to 60 minutes: thousands of exec orders, proposals NOT plan

Immigrants help economy/community: Trump wrong on immigrants’ behavior

 

Domestic terrorists buying now: 20-fold jump in sales like $220 gas mask, AR15s, etc

15 million more guns 2020: suburbs fear domestic terrorists; teens with AR15s; Walmart

Recession is over for high-wage workers: just starting for 30 million “essential” workers

Trump to cut 12,000 “best brightest from around world” visa doctors treating virus, etc

 

Trump Kodak loan scam: Jared’s bud gets exec order to use our money for bonus deal.

Carrier given $7 million to keep jobs here: 17 more IN firms have sent jobs overseas.

Foxconn’s $10 billion WI plan create 13,000 jobs: actual 520 people only $300 million 

 

Trump’s SEC will NOT safeguard investors from risky funds: leverage can double losses

 

Kanye West was inspired by God to be the "leader of the free world": Trumper’s alert

Trump’s own religious cult grows without masks: “patriot” churches blaspheme God?

Trump’s new show: “I’m The Apprentice” –You are fired!

 

Electric cars can catch fire: each maker has problems

Accidents by Teslas still driver’s fault: “No vehicle is capable of driving itself” anywhere

Tesla recalls ‘13-’18 S, X 30,000: suspension connecting rods may break

Best scams for this time of year: know your situation and how scams work

Scam with fake Barclay phone number: enter number in https://whocallsme.com/

Low VA Rates caught misleading, false info in mortgage offers to Vets: fine no jail

 

Trump building scam costs investors $270 million: forgiven debt usually taxable but not T’s

How Trump avoids taxes we have to pay: detailed analysis

 

Trinity Healthshare caught misleading of “full” coverage; many contracts NOT insurance

Facebook Twitter scam adverts blossom: no vetting; anyone can scam

Anthony Robinson caught scam accidents with big rigs for insurance: lawyers doctors too

7 guys caught in “pump ‘n’ dump” microcap stock cold call: no jail, no fine, letter to stop

 

Homeowners beware: some insurers using unlicensed adjusters to cut expenses: oversight

 

Home warrantees: costs may exceed benefits since you can’t know lawyer caveats

 

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

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

 

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

 

Jobs

Need infrastructure jobs program: 10.7 million jobs short of pre-pandemic level. 

Thinking of starting SS benefits? Check rules on losing benefits while working

 2021’s top 10 best-value colleges and universities: cost is a factor

 

Claim ALL your unemployment benefits: each state has rules, process, forms, etc

College application process tips: save fees, testing, virus alternative 1^st year

 

Who owns your account now?

Hospitals that deliver superior patient outcomes within 16 service lines by state

Claim your benefits from old insurance/annuity left by relative: $ may be tax free

Business-interruption lawsuit payout just approved by NC judge: most suits denied

 

Miracles:

14 year old Indian-American discovered new potential therapy for Covid

 

GOP 6-3 Supremes primed to reverse US back to 1950s: abortions illegal, dirty air, no wildlife reserves, no voting rights, 0 immigrants, no health care, red-lining housing, no interracial couples, Trump self-pardon, cancel IRS audit, no gays, discriminate by religion, decide our elections, dismiss suit Trump as rapist, etc

 

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/

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Is an unbiased financial mentor right for you?

How can a parent assure their child of a bright future?

You just don’t know how your child will turn out. Will they have enough money in the future given that the GOP is threatening to cut Social Security and the individual national debt is already $80,000 per person? No one knows what will happen when they are older. It would be great to start now with a small savings/investment account since it is time and not the amount that helps people become rich. Unfortunately, young people don’t learn about compounding in school so they don’t know what $50 per month can become over time. If invested in a low-cost stock market index account when they are born, it becomes $4 million by age 65. If they start at age 20 it will take $750 a month to reach $4 million. And if you use the tax-free Roth IRA for them, the money is free of tax. All you have to do is put the account on automatic and don’t tell them about it until later.

Give them a head start: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

Is “smart beta” investing right for you?

New fad: growing interest in sustainable “smart beta.” In case you don’t follow the most recent Wall Street hype, that means investment portfolios that say they offer the benefits of passive strategies combined with some of the advantages of active ones, placing it at the intersection of efficient-market hypothesis and factor investing.^[1] Here is the pitch: “Recent events have heightened investors’ focus on environmental and social factors, international cooperation and their potential impact on the financial markets," said David Harris, the group head of sustainable business at the London Stock Exchange Group, the owner of the FTSE Russell. "Given these large-scale shifts, combining smart beta with climate and sustainability priorities could become an even bigger trend for asset owners."

In English, smart beta funds claim to beat a traditional index fund by the owners making stock/sector selections based on their own guesses. With this, fund owners are trying to recapture simple index investors. We are still left with marketers thinking they know where the market is going. A “smart” investor knows this marketing trick.

Go with a proven sage: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Billionaires use tricks to avoid paying fair share

Robert Smith is investigated for taxes owed on $200 million that was moved through offshore entities. Like many corporations—Apple, Google, Amazon—the wealthy send money through countries with low or no taxes to avoid paying for the benefits they receive from US. Smith and his associate, Robert Brockman allegedly use offshore entities, trusts, and foundations to hide their dough. Tax havens include Caribbean countries only a few miles away in their jet. Good tax lawyers are expensive so you will need millions to start. The wealthy have been avoiding taxes for years. Even those running for high office use tax havens: Bloomberg, Romney, and Trump. The tricks are working and now a few wealthy people own over 20% of all wealth, up from 7% in 1978.

Use the only legal tax haven for workers: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976 

How do the wealthy increase their wealth?

Since the 1970’s, the middle-class has been losing their means of growing wealth: their savings from their income. The wealthy do not need to work more hours or more jobs to increase their income and assets. Once they own assets that produce income, the assets can grow on their own—the miracle of compounding. People like Tim Cook or Warren Buffett don’t work for wages but stock in tax-advantaged accounts. In fact wage income is taxable. Their assets grow without taxation. Assets are taxed ONLY when sold. The wealthy use loans to pay for their expenses. Loans are not taxed. Remember Trump’s boast that he pays NO taxes yet he is a billionaire with real estate income. He claimed a $1 million loss on his 1995 taxes that really consisted of defaulted loans and bankrupted businesses not an actual personal loss. He used his poor business management (6 bankruptcies) to avoid taxes for up to 18 years. The wealthy own stocks that do not pay dividends because dividends are taxable. So they may own Buffett’s own BRK.a at over $300,000 a share because there are no dividends. Buffett uses the dividends of the companies he owns to buy more companies. Early investors with Buffett are now billionaires and pay no taxes because they never sell their assets. They borrow to pay expenses. Clearly, Americans support those who have done well. Our tax system favors those with money even for the kids. Our reps are beholden to the big companies and the wealthy who finance their elections. However, most companies and wealthy don’t pay taxes—we pay their taxes. We pay for the roads, courts, and police they use. Stop paying their taxes!

Learn the tax credit system: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Is an unbiased financial mentor right for you?

Where can you find unbiased financial information? Some lucky folks have a mentor who helped them get past the recent virus-initiated market drop. They have seen what a friend or colleague has done with investments and followed their lead. Successful people have learned how to cope with money over good times and bad. They claim they don’t even look at their 401k and IRAs because they have been through it all before. They made good choices early on and have kept a steady path since. Unbiased mentors may decline expensive trips which they don’t mind explaining to folks at work. I got my start that way when my boss at the NYC Health Department showed me his Magellan fund statements in the 1980s. Despite the fees, Peter Lynch the manager was creating 29% average annual returns. My boss got me started in IRAs and 403bs not a brokerage account. My mentor showed me that I would never catch up to my goal if I waited to start investing. He showed me charts: https://money.usnews.com/investing/investing-101/articles/2018-07-23/9-charts-showing-why-you-should-invest-today. Time is more important than the amount he said. Of course once I began to see the account grow, I added more. Then my wife and I started a mortgage down payment account. Like others I fell victim to the advice to buy a universal life insurance policy for savings. I finally cancelled and switched to a term contract—using the old premium to fund my IRAs.

Use an unbiased advisor: https://www.amazon.in/Unbiased-Advisors-Network-Helps-Tax-free/dp/1470106841

Is your advisor pushing the new ETF model strategy?

Known as model portfolio investing, it’s a booming corner of money management in which the fund companies bundle funds into ready-made strategies. Basically instead of advisors creating a unique stock portfolio for you, they are using pre-selected ETFs (index funds) in a standard configuration or model for growth, income, preservation, etc. In a sense, they are avoiding the risk of picking the wrong individual stock for you by using an index. As John Bogle, founder of Vanguard, used to say, "Don't look for the needle in the haystack. Just buy the haystack." The “new” model portfolios are really the old Target Date Funds re-packaged by fund companies for profits: growth for younger; income for older and everything in between.

Buy the Best for life: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

**********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: “we will see what happens” on election loss

Dictator: police state at polling places

Dictator’s judge cancels IA ballots

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

IRS revises Form 1040 instead of opening mail: returns/checks left unopened since March

Trump mob all voted to separate kids from parents 2018: People will hate us for a long time!

Gov can’t even stop robocalls let alone virus, coal subsidies, fires, senior scams: on vacation

Trump waives 3,000 pollution monitor rules: more pollution makes virus symptoms worse

Right-wing religion gets virus $ millions to fund personal ministry benefits: colloidal silver ‘cure’

Another Trump cure for virus: “save countless lives” using other people’s blood: biased results

We paid $900,000 to TrumpWorld for his 270 luxury clubs MarLargo: 1^st prez to top $1 million

SCAMS/SPINS:

PO workers told to NOT reconnect mail sorters: Trump wants mail lost: late invalid votes 

Many states plan close advance vote and polling places: GA voters took 8 hours in line

PO vows to deliver “mail securely and on time" but “on time” is after Nov 3 Trump says. 

Trump seeking to ban ballot drop boxes to bypass PO’s planned delays: More lost mail

Robert Duncan Postal Service board of governors now agency of Republican National Committee

How can I ensure that my ballot is not rejected? 534,000 mail ballots were rejected so far’

Trump has PO telling us lie: “Customer requested mail held”: Trump trick to slow mail delivery

Trump now in charge of virus testing labs not FDA: his new/innovative tests not reliable

Drug insiders have taken $1 billion from us but vaccine not any closer.

57% of Republicans find 176,000 coronavirus death toll in the U.S. ‘acceptable:’ poll

Republicans have no party principles except one: believe in Dictator: “I alone can fix it.”

FL Gov DeSantis’s order in-person school during pandemic: ruled unconstitutional.

Trumper Bannon working with $Chinese$ asylum seeker: Trump does not have ICE deport him 

Sean Premock FL defrauding clients out of their life savings; promised low risk. prison

David Coggins Coral Gables defrauded investors by misrepresenting fund performance

Mark J. Boucher CA stole $2.2 million with fake letter, statements, fake bequest

PHLoans caught offered VA loans with false, misleading, and inaccurate statements

Go Direct Lenders caught misleading VA borrowers regarding credit terms, rates. No jail

Ease of trading has turned trading into a cultural phenomenon to lose money: “too easy” 

Trump lets Wall Street devour retirement savings: gambling can take our nest egg fast

Fake ID scams can ruin your credit report using genius-level method: Check yours Free!

PayPal student loans carry 24% interest so we will never pay them off: 6 mo teaser

Scammers steal $ millions and pay $1 penalty when caught: Trump’s new CFPB agency!

“Accredited Investor”: changing definition to rob 401ks: private equity too risky for us

No new taxes: Biden plays the same song as Bush I: song never worked with rich

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

Polling workers in short supply: check your county voter registrar

Rent due without the money or job? Find help: 10 steps to survive

College rankings by how much you earn after college: Some state schools do well.

Who owns your account now?

Man who claims “king of debt” put US over the line: your family’s share is $ 426,824+

Investment fees may be killing your future: Cut fees in half and double your future egg

Kabbage to American Express: Biz payments, cash-flow, financing fintech

Miracle:

HALF million votes not counted: too late, no signature, no match: no good

“Wealthy hunter types” may save the Alaska salmon region--Junior: “fragile fishery”

No one killed: Far-right extremists: armed terrorists fire on Portland protestors

Neighbors stepped in to help couple save their home after townsfolk complained

Teens fight discrimination by helping those in need: they overcome bias with love

Republicans for Biden: “save their souls” from evil deeds: cage children, pollute

Why teachers care: required to work in unsafe conditions means quit or ill or die

$7 glasses for people who know what they want and don’t want to spend $600.

He ate the whole thing: https://twitter.com/animalsworid/status/1296104746772656130

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

How can you know whether to trust your advisor?

What to do if Trump really did cancel SS funding?

At his NJ golf club, Trump promised his wealthy members: “I plan to forgive these [postponed] taxes and make permanent cuts to the payroll tax,” adding “I’m going to make them all permanent.” So all his members clapped (clap signs flashed) and will vote to end SS, Medicare, income and other taxes. Later they learned he will also cut capital gains taxes so they will owe nothing on the gains in their assets. However, in January Trump tweeted “Democrats are going to destroy your Social Security.” Members of his club and the wealthy are already avoiding most of those taxes since they are not taxed on most of their wealth. However, most will vote to end ‘payroll’ taxes since it sounds better than Biden’s promise to deal with the huge deficits Trump has created with tax cuts.

Make sure your have income later: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle-income/dp/1466394285

How can you know whether to trust your advisor?

Does every financial advisor have a basic conflict of interest? Advisors can make money from you in many ways. Do you really know how they make money? Are they on salary or commission or fee for service? Many advisors get paid based on much money you have not on how much they earn for you. So if your account went up because the market went up, you will pay more even if they had nothing to do with it. Some advisors charge an hourly fee like a lawyer. You pay $750 for a written financial plan that shows you a high probability of reaching your goals. Some charge for a specific task. You pay $500 for a re-balancing of your whole portfolio. Some are paid a bonus if they sell certain products and not others. They receive a year-end bonus of $5,000 for selling $500,000 of the mutual funds managed by their firm. How do you know the product they recommend is the best for you? You don’t know if the funds they sold you are better than an index fund until a year after you have paid their fees. Are they working on all of these income streams? Are you given a clear explanation of why your total balance has gone down yet you paid $1,700 already? Trump ended the fiduciary duty of financial professionals on February 3, 2017—one of his first acts in office. You can avoid their conflict of interest.

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

Is a gold asset right for you?

In the wake of gold breaking above the $2,000 level, enthusiasm for the yellow metal has reached a fever pitch. Earlier this week, for example, MarketWatch reported that a fund manager forecasted that gold could double to to $4,000 an ounce. But gold highs are not usually a good sign for real investors. The fundamental justification for a higher gold price that is most often mentioned is inflation. But we don’t have inflation. History tells a different story. “In 1980, some were concerned about… high inflation… From January 1980 to January 1985, the real price of gold fell 65%. People owned CDs paying 12% not gold. Perhaps new gold ETFs are pushing the price higher. Gold has been a speculator’s tool in the past—“I buy because another fool will pay more when I sell.” The gambler knows it is difficult to know when to fold.

Don’t play their game: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

How to stay focused on your long-term goals

With all the craziness of this time—work/no work, school/no school, mask/no mask, bull market/unemployment, deficit spending/recession—it is difficult to know what to do with your future income assets. Many have lost ground with 401k matching suspensions or layoffs. Many have ignored their portfolio since it is not clear what to do now. Many more have left their account in Target-Date Funds. Others have joined the Wall Street frenzy to trade ETF. The number of these index funds has exploded—over 5,000—with only a few making money for owners. During this time it has been helpful to some to just keep in mind Warren Buffett’s advice: “The stock market is a device for transferring money from the impatient to the patient.”

Wait, it gets better: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is your advisor’s move to a new firm right for you?

Unfortunately, moving all your assets to their new firm is not as simple and easy as they claim. It is the right move for them—more control, more income, more career choice. But you are going to have to deal with all the hassle—even your advisor doesn’t know the half of it—I was a firm manager. You will experience new account documents, lengthy processing delays and, frequently, significant incremental costs. Besides the paperwork and delays, you have new costs, including ticket charges, account level fees and annual maintenance fees for retirement accounts. If you were with a low-cost provider like Vanguard, Fidelity or Schwab, your 0.2% costs may become 2% a year. This increase may rob you of 63% of your total accumulation over time. You may lose asset compounding—the miracle of compounding. You are forced to make complicated decisions about how trades are made, which custodians, clearing firms, product sponsors and other institutions will be used. You will have to sign away your right to sue if they make a mistake. The benefits of one statement or greater compliance are marketing hype. Most firms are required to provide top compliance now. Plus, with larger firms, you usually have more, not less, choice of the product/service and benefits/costs balance. Some even have salaried advisors so you obtain more unbiased advice when you need it.

Do you need an advisor? https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is a ‘cash out’ refinance right for you?

Mortgage rates keep hitting historic lows. If you are tempted to take some of your home equity for bill payment or in anticipation of job insecurity, think hard about all the possible outcomes first before signing. We were in such a situation recently, and opted for the line of credit (home equity line of credit or HELOC) instead. We already had a lower mortgage rate on a 15-year loan so there was no need to refi for a lower rate. We used the equity to reduce our overall mortgage costs—less interest. We live in a high property-tax state so we could not reduce our monthly payments much more with a new refi. Plus we did not want to extend our mortgage payments for another 15 years. The line of credit is a way to get cash out for home remodeling and emergency without the cost and risk of a new 1^st mortgage. Interest is deductible for home improvements like a new kitchen. The rate is lower than many credit cards. We did not have large credit card debt so we did not need the cash from a ‘cash out’ refi. Our only big monthly expense is the property tax bill and we are applying for a reduction now. We shopped around for a no-cost HELOC.  We avoided all the closing costs of a ‘cash out’ refinance. We avoided prolonging our mortgage payments.

Hope for the best; plan for the worst: https://www.amazon.com/Your-Hell-Fund-goes-hell/dp/1492325627

 

**********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 on Harris: Make America WHITE Again

Dictator’s advisors fear “he may start a war”

Dictator eliminates Congress: ‘benefits’ for all by exec order?

Dictator to stop citizens from re-entering America

Dictator: “I’ve kept us out of war” with UAE?

Dictator cuts PO so we can’t mail-in vote

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

Congress on vacation: failure is THE option: they leave—we are stuck w/o job or money!

20 GOP senators reluctant to spend more money: spent $3 Trillion on rich: re-election locked

Congress gets $174,000 for not doing job: Wealthy reps think $600 keeps us from work.

“permanent cuts to the payroll tax” Trump handlers: he didn’t mean end Social Security tax

Trump to give wealthy another tax break: lower taxes when they trade or sell assets: “more jobs”?

SCAMS/SPINS:

Facebook takes political sides: Employee fired after collecting proofs?

NRA execs accused of stealing $ millions from dues-paying gun owners

Which foreign government will buy election: Russia for Don; China for Joe?

Despite Trump, kids are NOT immune from virus: 97,000 children positive in 2 weeks

How we are informed: 7 million lies about virus posted on Facebook: can we survive?

FL sheriff bans use of masks by his people and in office as FL cases/deaths zoom.

Jack Brewer sold shares of company he consulted for knowing the stock price would fall.

Advisors don’t get laid off: they get paid whether they make us money or not: overcharge

Robert Jesenik Aequitas caught Ponzi promised returns from notes and funds

Morrie Tobin caught pump-and-dump schemes defraud “innocent investors” $15 million

Pyramid schemes hit struggling workers: promises of huge profits from tiny start-up cash

Jared huddles Kanye secretly in CO: conspire to railroad Black voters

Trump’s postmaster is removing mail sorting machines to slow the mails: suppress vote

Zoom invitation may be phishing scam: hackers using virtual com tools

Packages you never ordered scam: get seller to take it back—they stole your info to use

Are alternative energy firms a scam? Get a lawyer’s read first before you sign.

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

GA school kids will reignite virus shut downs: quarantine high school kids at home?

Israel learned best way to reopen schools/jobs: protection protocols

Re-opening no masks increases virus cases and deaths: 1,500 dead a DAY record!

IRS tax return center: help open paper returns: check is sitting there: You get IRS notice?  

Post office workers replace machine sorters:  $18.47 to $33.82/hour plus benefits

Who owns your account now?

Our regrets: 50 account/purchases we always regret: sleep on it before you buy

Bargains in home buying: foreclosures are cheaper but not for the novice buyer

Divorce rate for older folks is rising: know your rights, plan your future

Miracle:

Michelle Obama for VP: Biden is too weak without energetic non-political woman

Dems need a “very very nasty” and “disrespectful” VP to overthrow a dictator and mob.

White religious power still favors a dictator who put children in cages; brags about sins

40% people with virus have no symptoms: do they have the cure? Virus never dies?

FL no longer requires test for restaurant workers before serve you: Virus free w/ meal!

I believe the president of the United States: everyone else is a liar or traitor

Tens of thousands acres for oil and gas drilling was to be auctioned: we stopped Trump

Dogs may use Earth’s magnetic field to take shortcuts

Canada's last intact ice shelf collapses due to warming: FL gives sandbags to residents

IAN

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Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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