What your advisor should be doing for retirement planning
If you are paying an advisor for help with retirement
planning, do you know what the advisor should be doing for you? Are
they covering ALL the bases? Do they have experience doing a complete plan
for clients? There is no guide book for advisors to follow. Good planning comes
from experience. However, there are minimum topics or areas that they should
cover for you. You need an advisor that asks about all
your future sources of income. If they don’t know them all, how can they
plan for you to have enough? Are they reviewing any changes in your family’s
life at least once a year? Do they have a plan to get you out of debt? Are they
maximizing your 401k and have a plan for SS benefit maximization with your
spouse? Do they explain ALL your options—2nd career,
moving, health,
portfolio risk, inheritance, legacy, etc? Have they explained their costs?
Plan now—save $ thousands: https://www.amazon.com/Your-Retirement-Income-Checklist-TrumpWorld/dp/1544703260
How much of your stuff is paying for Trump tariffs?
We are being hit for his tariffs in almost every room of our
house. As you know, most of our purchases of everyday items are made in China China
Congress
is responsible for tariffs according to the Constitution but they gave to
Prez.
Minimum wage still less
than 1963 in buying power
Of the 15 cities and counties with increases, 10 are in California Emeryville , California Washington
Can
a person or family live on $7.25 per hour MINUS taxes, SS taxes,
unemployment taxes, Medicare taxes, state income tax and sales tax? Where can
you live on $1160 MINUS $232 = $928? $928 for rent, food, transport, clothes,
medications, etc. Are workers better off going on welfare, food stamps, off the
books work? Congress just cut
food stamps and supports for ObamaCare in order to enhance
sugar producers’ profits. Trump tariffs target agriculture sales overseas
so farm corporations will need more subsidies and grants. Is it
time for socialism for the little people?
We already have socialism for the rich: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Don’t miss the date you must take IRA withdrawals
Everyone must start taking money out of their retirement
nest eggs. All deferred funds, IRAs, 401ks, etc must
be taxed once you hit age 71 except if you are still working full-time. Beginning date for your first required
minimum distribution
IRAs (including SEP
and SIMPLE IRAs) April 1 of the year following the calendar year in
which you reach age 70½.
401(k),
profit-sharing, 403(b), or other defined contribution plan Generally,
April 1 following the later of the calendar year in which you reach age 70½, or
retire.
See the chart comparing
IRA and defined contribution plan RMDs.
New ways the wealthy avoid taxes that we have to make up
for
The new tax law still requires a high tax rate for high net
worth folks who have earning income and cannot convert it to an income for
their corporation or LLCs. If they also have a large 401k or rollover IRA,
their tax burden will grow even after retirement. They need to take RMDs from
their tax-deferred retirement accounts in order to pay the income taxes the IRS
demands. They can avoid paying some of the taxes on their IRAs after age 70.5
by taking withdrawals from their IRA accounts earlier than age 70. In other
words they can reduce the tax burden by converting part of the IRA amounts to a
non dividend non interest paying security in a taxable account. For instance, Warren
Buffett’s company is one that pays no dividends. In a taxable account,
their security’s capital gains are not taxed until they sell. If they don’t
sell, they don’t pay tax. Even worse, their heirs pay no tax on the gains
up to their death. Thus all the accumulations in value on the former IRA money
from the date they converted them and paid the current tax are tax-FREE to
heirs. They avoid taxes on the gains since conversion (perhaps 40 years) and
pay the lower capital gains taxes if they need the money later. They avoid
taxes twice!
Avoid
paying wealthy people’s taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
Other ways to pass on wealth without taxation
Almost no one will have to pay the ‘death’ tax now that the
limit was raised to $11.2 million each. Wealthy people can give
stocks to grandchildren who may pay no capital gains tax when they pass.
This means that if they bought Google, Apple or Buffett’s stock years ago, they
can avoid paying $ thousands in capital gains tax now and the grandchild pays
very little or nothing when they sell. A portfolio of these stocks has
appreciated into the millions. Both get windfall at little or no cost: no tax
for wealthy grandparents and college education for the kids at US
Give your grandchild the same advantage: https://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105
Is long-term care insurance right for you?
If you are in good health and don’t have $3-4,000 a year
extra to spend, this insurance may not be right for you. Why? Only one in seven
will face the huge costs for years. Most people have short stays and many
retirees with average nest eggs may be able to afford at home help with the
basics of living—washing, etc. Medicare
covers some forms of care. It is often cheaper to have assistance and care
at home, even if it requires remodeling your home. There are other alternatives
that make living in an institution unnecessary. Buy only what you need:
$4,000/yr for 20 years costs $250,000.
Know your options: https://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X
****************
4 of 5 Supremes say OK to seize our cell records showing friends, location,
personal data.
Trump TV propagandist moves into WH to run the spin
machine.
‘Judge Judy’ to become a Supreme: it is all propaganda, message molding, image.
Trump wants to do away with due process and other laws dictators don’t like.
Trump: my critics are “dangerous for the country” they’re very bad”: he signals
base!
Trump has encouraged violence by his base through his campaign talk and actions
Trump separated kids 10/2016 as test: no records kept of parent link. Nazis
kept records.
Prison operators (GOP donors) stand to make $ millions from Trump’s separations
Supremes kill law requiring communication: options notice
violates free speech rights??
Middle class shrinking: wages for ‘nonsupervisory’ jobs falling even in great
market
After large tax cut, workers' share of corporate income less than in 1958
Men are no longer in the workforce. 31% vs 14% in 1950 are not contributing.
Number of products NOT made in America is growing: cheap
labor, automation
Europeans will NOT have to pay tariff on Harleys: Trump sends Europe our jobs
Workers borrowing more to live on: personal loans up 18%; 23% rate is common.
Supremes help destroy unions—freedom to cut wages,
benefits, bargain, membership
Trump
soft on Communism: What can I do? Putin will deny helping me win: I want
hotel
Trump lawyer: Russia probe crimes ‘cleaned up with pardons’:
criminals he knows!
Trump really hates Obama: alleges give Iranian
citizenship: Americans say he is racist.
Trump
called a gangster by N. Korea : how did they know?
Trump may be charged with ‘crimes
against humanity’ by UN?
Trump wants to use military to invade Venezuela like
Panama Grenada. For Oil?
************************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
IRS
said 362,000 people have delinquencies above the $51,000. Trump is top of
list
Trump EPA allows big
polluter a loophole to poison us: asthma, cancer, etc
Trump’s
spin Dr actually works for foreign countries, lobbying groups: no
registration
SCAMS/SPINS:
Trump
puts Russian bank lobbyist as top prosecutor Justice Dpt: cut Mueller probe
out?
Trump’s
campaign contacted son of top Russian officials to help sway election.
Matthew N. Greene of Lake City ,
Fla.
Jay D. Erickson of Green Bay ,
Wis.
David Rich of Wayne , Pa.
Patricia Everett of Portsmouth ,
N.H.
Roger Zullo Newton MA caught
selling variable annuity using fake suitability info
Anthony Scaramucci Trump
mob lost clients’ funds vows more hedge deals
Vitaly Korchevsky minister caught hacked markets: $100
million insider
info trades
Rebecca Gonzalez, Matthew Graun and Michael Creamer caught
promised 6% fish farm
Senior Fed Exed $8,000 to scammer
for bail: they were told grandson was arrested
Kevin Modany Daniel Fitzpatrick caught
deceiving investors at ITT Ed Svcs-no jail/fine
Car & parts price fixing settlement:
claim your refund: autopartsclass.com//index.php
Jobs:
Trump
hires 61 foreign workers NOT Americans for his “Winter White House.” Cost
less
Ivanka’s
Chinese clothes exempt from The Don’s tariffs: how convenient !
Jobs are opening as more
employees quit for higher ground
Who owns your account now?
5%
on money in your checking? IMPOSSIBLE … but true. Jump!
Divorce revokes life insurance beneficiary choices: check
who gets your money on death
IRS finally OKs “backdoor Roth” so you can
convert IRA each year: Tax FREE later
Are your twitter
followers just fake accounts?
We have too
much company stock in our retirement plans—10% is limit
Miracle:
Baby
buried alive by drunk found by following his cries: Parent left boy with
drunk?
IAN
41 Watchung Plaza, B242
973.746.2014
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