Reduce taxes: 2019 IRA contributions by July 15

Reduce taxes: IRA contributions made by July 15

Since the filing deadline was extended to July 15, so was the 2019 IRA contribution deadline. We have more time to buy stocks on sale: $6,000 plus $1,000 for those over age 50 means less taxable income; less tax. Since stocks and funds are down 20% or more, we have a great way to add thousands of dollars to our LONG-TERM fund. Remember, only this asset class can beat inflation over time. Inflation can take up to HALF the purchasing power of our retirement dollars in 25 years. You may even increase your Savers Credit—a reduction in the actual tax owed. Another smart move: convert depressed IRA funds to Roth IRA funds. There is no longer any income limitations on Roth IRA conversions. Also this year your income may be lower since you are not forced to take RMDs. With smaller taxable incomes, you can convert more reduced IRA money and pay tax on a lower amount of income. We were able to slip into the 12% bracket from the 22% bracket this year and thus pay less for 2020 income. Also NJ does not tax SS benefits so we even saved on state taxes. A Roth IRA provides tax-FREE income later when taxes go up to pay for this $2 Trillion bailout.

Avoid future tax increases: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Billionaires push unproven malaria drug that has killed

Job Creators Network is urging Trump to “CUT RED TAPE” and make an anti-malarial drug called hydroxychloroquine available for treating those sickened with the virus even though it has killed healthy people. Scientists have not tested it on virus patients. Despite this Trump endorsed the use of it and people have died. In Arizona, a couple who heard the president tout the drug ingested chloroquine phosphate — a chemical they’d used to treat their koi fish — mistakenly believing it would prevent COVID-19. The man died and his wife was hospitalized, according to NBC News. Several politicians have voiced the view that seniors should be sacrificed in order to get people back to work and save businesses. One thought leader volunteers ‘grandmas’ to die. Now ventilators are too expensive to make/buy Trump decides. In history, panic has caused mistakes that killed people by providing bad ‘cures.’ Because society elites have good health and access to superior medical care, they advocate their solutions for every person without thinking through the ‘collateral damage.’ If ‘back to work’ senior virus carriers handle your ‘Home Depot’ purchases, you are exposed. Trump ignores Italian-style deaths by promoting April 12 as deadline for back-to-work no matter the risk to actual people. Airlines have filed bankruptcies and kept working before. CEOs always got paid their bonuses. Now Trump and his Treasurer can pick the businesses they like to get a bailout.

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

Bad time to take money from your already depressed account

Under new Care Act, rules on 401(k) loans would also be relaxed, and some retirees would avoid so-called required minimum distribution, or RMD, rules that might have been onerous. One provision in the bill would let investors of any age take as much as $100,000 from retirement accounts this year without paying an early withdrawal penalty. They also could avoid taxes on the withdrawal if the money is put back in the account within three years. If it can’t be returned, taxes could be paid over three years. People diagnosed with the virus are eligible, along with anyone who “experiences adverse financial consequences” as a result of the pandemic, including an inability to find work or child care. Retirement plan sponsors are told to rely on employees’ word that they’re eligible. Taking money from your future is a hard decision. You not only sell shares at the worst time in 20 years but it will take twice as long—maybe another 20 years—to recoup that money. Besides you will lose the compound earnings during that loan time. Better to trade down your car or borrow from your bank. Like the Great Depression, these are the times that try our soils.

Don’t sell your future short: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

How Trump and tax-credit class hit Corona jackpot

The stimulus bill removes limits on the amount of losses that wealthy investors can use to offset taxes, by writing down the gradual depreciation of assets like real estate. Trump, Kushner and friends will have NO income taxes for years. Plus their accountants can go back to previous years and receive tax refunds. We will be paying Trump and friends for their losses. “There's a huge tax giveaway for people like him and his family in the stimulus package," said the nonprofit legal aid group Citizens for Responsibility and Ethics in Washington in a tweet. So when you pay your taxes in the coming years you should think of all the money you are giving Trump, Kushner and all the real estate ‘developers’ out there. Trump is barred from the bailout, not his companies. They don’t even have to keep their employees on as other businesses have to for their jackpot. "To a certain degree the government is picking winners and losers in the stimulus bill and we will probably see it become even more political," one strategist said.

Avoid paying their refunds: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Are target-date funds the safest place for my retirement funds?

Unless you have millions of dollars or a Wall Street guru with a perfect record, you are safer in TDF than with a person who makes a living handling your money. An advisor, broker, agent, or money manager are those we traditionally look to when the markets crash. Most don’t save us from disaster. You may be a lucky person to have a sales person who sold your stocks before they went down. Only one or two actually predicted and executed a ‘safe’ sell-all strategy. TDF have the explicit strategy of investing for the long term. The good part is they don’t go down as far as some actively traded securities. They also don’t go up like the active traders claim their choices have. About 21% of retirement money is in TDF. 60% of new money went into TDF. Unless you have a crystal ball, there is no safer vehicle for your long term money. It is the simple and correct solution for most people saving for retirement. As Vanguard founder John Bogle said, you can't control the market, but you can control your investment fees. Paying just 2% a year to your salesperson mean you are giving HALF of your long-term accumulation away. And your salesperson is not always right!

TDF is safest way: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

Why did your ETF close and return money to you

72 ETFs with $1.4 billion in assets shut down and returned their money to investors in the first quarter. Many ETFs are really leveraged market-timing active funds which must act quickly to get out of the super-heated loans. Some use derivatives to amplify returns or losses of the securities they track. Since leveraged ETFs are specially created products designed for speculators, individuals who buy or trade them without understanding how they work should be extra cautious. Many leveraged ETFs are not structured like ordinary ETFs. And unless you know your ETF intimately you will get burned in volatile times. These ETF's shares are destined to lose money over time, a reality that is exacerbated by the fact that the portfolio rebalances daily. Due to compounding, leveraged ETFs held over the long term can see strikingly different returns than the fund's target. Because these funds reset each day, you can see significant losses—even if the fund itself appears to be showing a gain. These are a way to gamble without risking the dangers of directly employing margin debt. You can take the long side (bet that it will increase) or the short side (bet that it will decrease) as both have their own respective ticker symbols. 

Stick with the best: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

This is why rebalancing is not necessary

Markets have corrections, recessions and bad times. Selling and re-buying is not the best LONG-TERM strategy. New research by Campbell Harvey, Duke U, found that “investors need to understand that rote re-balancing is an active investment decision that increases risk. In an up market, you are selling soaring stocks; “all of a sudden your portfolio has done worse than if you had just let it run.” Re-balancing kills compounding. Almost every broker/advisor tells you to sell when your stocks are soaring and buy something else in order to maintain your 60/30/10 or 80/20 asset allocation. Transactions are their life. But Warren Buffett says: We continue to make more money when snoring than when active. Over time your portfolio of 50/50 stocks/bonds will maintain the growth and income you need to provide a sound lifelong return. For example: Vanguard Wellesley Income Fund has provided 9.5% annual returns since 1970. Corrections (rebalancing) were automatic and limited losses. Since 1970, 7 down markets have still produced over 10% for the S&P500. The market is now where it was Jan 2019.

Re-balancing is bad: https://www.amazon.com/Dont-Re-balance-Your-Portfolio-Research/dp/1508802386

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 file your tax now for refund. The payment, if any, can be in July; the filing should not. Rumors confirmed: filing delayed to July 15. Check your state for deadline. The federal and state filing 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. File now for refund: 90 day interest-free extension if you owe. https://www.irs.gov/pub/irs-drop/n-20-18.pdf

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 to MI: ‘Kiss my ass first’

 If they want federal help, they should be more “appreciative”

Alex Rodriguez now Mobster’s advisor on C-19: Trump seeks praise

Mobster wants his name on rescue checks so we remember Nov 3

Hope Hicks, consort, urged Trump to act presidential so he bans new health cover

Mob Boss blocks travel in NY, NJ CT except for friends/family’s helicopters

Hungary model tempts Mobster to follow emergency powers to jail media

Citing Mob Boss, red states allow virus spread

How Govt wastes our money: Congress spends another 3.7 Trillion we don’t have! 

GM to get $ billions to make ventilators: double the cost

Trump’s Boeing bailout just made senior managers wealthier: stock up 70%: killed 346

Our Reps give a Bailout check to the most profitable companies: we pay the tax bill!

Rescue checks/direct deposit goes out late April: tax returns or SS bank numbers

Test centers only test those with symptoms: virus will spread by no-symptom carriers

ICE detention centers: are they 21^st century death camps? 7,000 immigrant children

Increased car emissions destroy air but pleases oil companies who pay election money

SCAMS/SPINS:

One man—John Roberts—a Supreme, will decide whether we have (no preexisting) health care!

Trumpers attack the most knowledgeable virus scientist we have: politics ‘trumps’ life

GOP gives Kushner $ millions: waive mortgage repayments on Kushner properties

Trump praises MyPillow holy roller whose pillow claims have been called fake by FTC

Trump to send ventilators to Europe as some blue states beg for help: Red states get 100%.

Trump let the Fed ventilator contract expire: thousands from stockpile don’t work

FL GOP: unnecessary to order stay at home: limited testing so ‘many areas have no positives’

We have seen how society can inflict hate just because of race/religion/name/ bias. It gets worse.

Trumpers hate science so threaten Fauci life: Scopes trial 1925 about science deniers. 100 years!

One KY GOP House member holds up $2 trillion rescue bill: Thomas Massie says too much debt

Panic is the real destroyer and most of us are calm: “Only Thing We Have to Fear Is Fear Itself”

HR Block sued for tricking ‘free-filers’ into paying for IRS ‘free-file’ services

Some SS recipients who don’t file a tax return now must to receive a stimulus payment.

Medicare out of pocket bills have not arrived yet: we are in uncharted territory for big bills.

C-19 insurance scam: pay premium get no coverage; fake policy cancels; fake vaccines

Scam: Fake letter, call, text that promises help when SS suspends our benefit. SS says no.

12 C-19 scams to avoid: test kits, solicitations, SS calls, bank calls, toilet paper delivery

Purell caught making unproven claims: FDA letter tells them to prove it.

60,000 died in 2017-18 flu season: 44 million caught & survived: Fauci:100-200K C-19

"Doc" Gallagher TX caught $10 M Ponzi promised guaranteed annual returns: jail 25 yrs

Mark Lamkin KY caught taking loan from client violates rules

Cash Store TX caught made deceptive representations: “50% off”: fine $1.3 mil not jail.

GOP Kelly Loeffler GA sold $3.1 million in stock by February 14 to make virus profits.

Our tax returns (including SS benefit) used to calculate our rescue checks.

Check your SPAM inbox: masks, ventilators, all virus equipment you want at 50% off!

Money claims to know when the market hits bottom: Actually they have no clue.

Jobs

We should have bought surveillance-software company’s stock: Big Brother all over us.

Student loan repayment by you & employer now pre-tax. No income tax on $5,250/year

“It’s the rich (travelers) who brought virus to us. It’s the poor who will pay” House cleaner

Trump channeling Pelosi: infrastructure jobs now solves 2 problems: work, bridge, road

Doctors & nurses working long hours have salary/benefits cuts just like everyone else!

Some states give foreign doctors medical licenses since we need them: just temp; then send home

Lose job; lose health care: America needs Medicare for All because if lose job should not lose life.

Business can claim tax credit for paying wages to employees. IRS virus response page.

Who owns your account now?

$9,763 cost of health care if you have real insurance for C-19: $20,000 if you have TrumpCare.

How you may be helped by Cares Act: new law provisions

How to get your small business loan now: https://www.sba.gov/funding-programs/loans

Hold student loan payments at least till Oct: Employer can pay tax free.

Landlords are evicting any tenant with symptoms/virus: homeless stigmatized.

Insurers asked to give waiver on premium due: check state guide non-cancel, etc

Houston Asset Management to Allworth Financial, Hanson McClain Advisors

Nissan recalling 250,000 2012-17 SUVs, trucks and vans: air bags

Miracle:

Crime and crime fighters down since the C-19: Elsewhere everyone buying guns/ammo.

NYC hotels open beds for hospital workers/non-C-19 patient: Four Seasons for doctors

Patients who recover from C-19 may be key to saving new victims: plasma is anti-virus

New 5 minute test for C-19 approved FDA: make 50,000 machines a day eventually.

$100 Go2Vent ventilators ready to be made but owner wants $100 million for plans.

Miracle: Gun dealers are ‘essential businesses’ NRA tells Trump the election score

Retired medical workers volunteer to help NYC cope with crisis: staff get sick too.

NYC doctor: "I’m seeing EMS stretchers lining up down the block …”

112 years old and still eating cake: oldest? More plan to live past 100 years

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Retirees NOT forced to sell shares for IRS

Retirees may NOT be forced to sell shares for IRS

Congress passed the $2 Trillion bailout bill that may allow retirees to stop selling shares to fulfill the RMD requirements of their retirement accounts. While this measure and others would allow savers to keep more of their savings, waiving the RMD for 2020, the House bill would work in favor of those who don’t need to live off of their IRA or 401(k) retirement funds. This would benefit those who are not living off their retirement nest eggs at the present time. The RMD is calculated on the previous December account balances for all those over 70.5 years of age. We must pay taxes on the gains that have been cut drastically by the C-19 market sell off. To reach the amount specified by our RMD, we would need to sell more shares than we would have had to a month ago. Waiving the RMD requirement for 2020 would reduce the tax revenue this year. Taxes will need to be increased in coming years to pay for the additional $2 Trillion spent by Congress.  

Avoid the future taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

My shares of stock and mutual funds are hanging on

I have increased my shares by NOT selling. The dividends I receive are adding more shares because the share price has fallen. Shares are on SALE. This is why Buffett is buying not selling. Buffett’s companies like Geico are still in business and collecting $ millions in premiums so he has $ billions to buy shares of Kroger, Delta, etc when the price is low for growing firms. Like Buffett I am buying stocks and shares of quality firms while they are on sale. They are on sale because of panic and the fact that some active mutual fund managers don’t want to end the quarter with a big loss. They will say they only lost 15% when the market index is down 25%. So they are selling at a loss which they can offset with some gains. I am not worried about my investment return number for the quarter. I am investing for future income and so when the price goes up, my shares will be worth more. And I will pay no taxes which will surely go up.

Buy shares on sale: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

GOP uses the virus to give their “friends and family” more of our tax dollars

Did they forget the last time: Big and reckless businesses got bailed out, with no one going to jail, while ordinary Americans lost their homes and jobs? The virus is just an excuse. Some on the right are calling it an act of God--the better to justify their support of massive government spending. One White House official said Trump “doesn’t give a [expletive]” about the plan’s impact on the federal debt. “It’s all about the markets and the economy for him. It’s all about the jobs numbers.” Re-election is the prime driver. The Senate Republican plan to send every household $1,200 for each adult and $500 for every child is an inefficient and ineffective way to stabilize the economy. It’s also a cynical ploy by Mob Boss Trump and the GOP to buy the next election. The better strategy is to get money into the hands of cash-strapped businesses that promise to use it to keep workers on their payrolls. A better effort would be to make sure states can pay all the laid off workers who will need the essentials. Unemployment insurance can’t cover the estimated 80 million workers out of a full-time job. The last time we had millions of unemployed we did something about it: we made work for them. We built buildings, schools, dams and bridges. Dams not coal make electricity.

Let’s avoid socialism for the rich: : https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

It took 4 years for the stock market index to recover from 2008 lows

Depending on your portfolio profile, it will take time to recover from this stock market correction. If you use the stock market as your checking or savings account, you will suffer when you sell. If however, you are a long-term investor, just turn your head from the daily gyrations and BUY like Buffett. Last year the stock market gained 31%. The long-term average is still 11%. If you pay your advisor 2% you will have to wait a longer time. If you think of your money in terms of short- and long-term reserves, this correction has no impact on your ultimate goals. John Bogle, founder of Vanguard, said that you can control what you pay for advice not control the market. Giving away 2% of your long-term money will decrease your final accumulation by up to 63%. “Over a 50-year investing lifetime, that little 2 percent fee will erode 63 percent of what you would have had. As Bogle puts it, “the tyranny of compounding costs” is overwhelming.”

Let the ‘Bs’ guide you: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment-advice/dp/1523693045

Who got rich from the last bailout?

Your tax dollars are going to make many rich people richer. During the last bailout crisis, even the foreign banks and profitable firms got money they did not need. None of them said no. This time Boeing, which killed a lot of people from bad management, got BILLIONS of our money. The whole leisure class industry wants $ BILLIONS including The Boss’s hotels, golf resorts, and global properties. Most of those crying for bailouts had large surpluses from huge profits during the last 12-year bull market. They spent it on themselves—buybacks, CEO bonuses, more jets, etc. Remember, many of these firms have paid no taxes for years. Like The Boss, they have used every trick in the book to avoid paying their fair share. An unbiased analysis of this situation would be that America is a socialist country for the rich. We pay subsidies to profitable firms and have been doing so for decades. Subsidies to the elites is what American is all about. Even our Reps use info illegally. Lobbyists tell our Reps what to subsidize in return for election money. Why are we still providing oil, coal and gas subsidies to profitable companies? Trump pays farm/oil/gas companies when the market price falls. He promises agribusiness price guarantees and support payments to keep that group voting for him. The national debt has surged from $20 trillion to $23 trillion since Trump started. He promised to pay it all off. Instead he has made our tax yoke heavier in the future.

Reduce your future tax burden: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

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 file your tax now for refund. The payment, if any, can be in July; the filing should not. Rumors confirmed: filing delayed to July 15. Check your state for deadline. The federal and state filing 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. File now for refund: 90 day interest-free extension if you owe. https://www.irs.gov/pub/irs-drop/n-20-18.pdf

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?

Mobster whining: "It cost me billions of dollars to be president”

Mob Boss: “I don’t take responsibility at all.”

Mobster: “I’ve always known this is a … pandemic.”

Mob Boss does not care what we learned from the last bailout.

Mobster on malaria drug: “So we’re going to pray from God that it does work.”

Mob Boss: We will give you “more than $1000 check, more later” (after my election)

Mob Boss: media wants to keep businesses closed “so I don’t win” in Nov.

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Lobbyists for big business leading Reps around for bailouts: Socialism for the rich

Trump sends medical supplies based on his politics (Nov 3) not medical need. Helps N Korea

Recurrence likely: Trump promises END restrictions in 15 days to get jobs/economy back.

Leisure industry the last to get help: Unemployed, hospitals, food chain, medical workers first

GOP bill “bad news”: “bailing out the biggest corporations.” GOP: stock “futures down 5%”

Doctors nurses plead for medical supplies equipment: 1 mask must last 5 days!

If we are at war, why is Trump taking money for his luxury businesses? Private Jets?

Same companies that binged on buybacks are in line to receive taxpayer-funded bailouts.

Lobbyist make sure their corp get the bailout. Coal co. stops black lung payments?

CEO get bonus for winning special bailout: US bans travel so no flights to use bailouts!

Trump will be “oversight” person: bailout biz friends: ‘fox guarding hen house’

TX using health emergency to force women to have kids they don’t want

TX 2^nd gov would rather seniors die than let Wall Street go down. He has ObamaCare!

Glenn Beck wants older Americans to die to save his show and Wall Street

Who gets our tax money: $2 Trillion is borrowed from our future children/others.

3.3 million file for unemployment comp: 1938 3 million built 10,000 bridges, roads etc

OH gets just $2.1 billion to fight pandemic: Boeing $17 billion to bailout bad managers

SCAMS/SPINS:

One man—John Roberts—a Supreme, will decide whether we have (no preexisting) health care!

4 anti-worker GOP Senators try to kill unemployment funds in the $2 Trillion subsidies law.

These 4 Senators only work 133 days; $174,000 guaranteed: unlimited sick; full health care.

Senators ignore warning: gym & pool use while virus spreads shows stupidity

Why did Congress take vacation at this time of crisis?

What happens if you can’t afford the $250 C-19 test? Retreat to the desert/mountains

Guns and ammo sales up 1,000% in some states: people are scared and may kill you in fear.

Census questionnaire and virus bailout checks are NOT linked: Fake Facebook posts.

Supremes: mental illness not allowed as defense anymore: no one can claim insanity.

Brazil gov tries Trump ‘back to work’ propaganda and it flops

Donald Hunter CT caught fraud promised returns from new Alzheimer drug

Corey Eastman Devon Ortiz Julia Montgomery caught ‘grandparent scam’ on dozens.

Hammed Akande MO caught romance scam $700,000 24 seniors

Todd H. Lahr PA caught running Ponzi promised mining real estate returns

Mychal Kendricks NFL caught insider trading on tips from banker jail time

SEC allows failing funds to borrow money from sources not usually allowed.

Megan Hess Shirley Koch CO caught selling body parts & fake $1,000 cremations.

Brokers prompting buyNhold investors in ETFs to sell out: buying oversold stocks.

Insurers retain huge premium bonus as few accidents near zero claims from C-19.

Alexa recording lawyer/client info as more work at home: We can’t delete later.

E-skimming is type of card fraud: hackers plant code in online store takes your cc inputs.

15 Coronavirus Online Scams to DECLINE

GoodRx posted a statement it planned to stop selling your personal medical information.

Some corona cleaners do work: some don’t: fake claims for cures: jimbakkershow silver

China & S Korea report no new cases: True or False?

President of the USA says everyone back to work by April 12 just to save re-election!

I got Trump’s C-19 postcard telling me to stay out of work at home and no contacts.

Treasury Secretary: 3 million record unemployment claims are “not relevant”: he has job!

Immigrant physicians enlisted by Pentagon for medical skills are stuck taking out trash !

Fauci, virus scientist, says “many more weeks” and has been sent away like other experts.

AZ man dies from cure Trump claimed might work: Trump cure is hydroxychloroquine

More die from TrumpCure chloroquine poisoning around the world

Trump’s friends get tested while those at risk go without test and told to go back to work.

Jobs

NY, IL, NJ State to shut like CA: non-essential workers stay home

Walmart to hire 150,000 for corona surge: bonuses for some. CVS hires 50,000: bonuses.

Which colleges actually are worth the cost: few produce income high enough for costs

Bailout state unemployment funds: filings hit 2.25 million this week: Boeing can wait

Grocery worker coughed on by George Falcone now charged with terrorism!

PA shopper coughs on grocery shelves so market had to discard food: terrorist?

Some store managers are NOT telling employees about those with C-19. So it spreads.

Work from home computer hygiene: keep hackers out of your life line.

Who owns your account now?

Insurers are looking to protect themselves as financial ground cracks: they buy more insurance

CA: Wells Fargo, US Bank, USB, Citi and JPM Chase defer mortgage payments for three months

Family earning over $150,000 does NOT receive bailout money: Rich get better bailouts

Miracle:

How our hands evolved from fish fin! Amazing thing creation!

When we are really alone: survival is being human

Lost sense of smell and taste are peculiar telltale signs of Covid-19: first symptom?

Don’t see sickness in CA: Shelter in place means hunkering down at beach/boardwalks.

Streets are empty: we can walk without dodging cars/SUVs: save gas/no pollution!

States are tracking cells to verify social distancing: Big Brother watches for good or evil?

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

JPMorgan counting on us buyandhold investors to save them

Turn off your RMD auto-distribution: don’t sell shares now

Those of us with automatic RMD distributions may want to suspend this service temporarily. We have until December 31 each year (unless this is your 1^st year) to take the amount required from qualified accounts in order to pay tax on the gains. Taking your RMD at the bottom of the market will cost you more precious shares than previous years. Don’t LOCK-IN your losses! I put an alarm in my cell to tell me to switch RMD distributions back on in July, Aug, Sept, Oct, Nov or December just in case I forget. We must take our full calculated RMD by December 31. Our past schedule is void. Hopefully the market will regain some of its 25% losses by then. You can do this on Vanguard’s account summary page with the link in right column:
“Required minimum distribution”

Know your RMD rules: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

It took 4 years for the stock market index to recover from 2008 lows

Depending on your portfolio profile, it will take time to recover from this stock market correction. If you use the stock market as your checking or savings account, you will suffer when you sell. If however, you are a long-term investor, just turn your head from the daily gyrations and BUY like Buffett. Last year the stock market gained 31%. The long-term average is still 11%. If you pay your advisor 2% you will have to wait a longer time. If you think of your money in terms of short- and long-term reserves, this correction has no impact on your ultimate goals. John Bogle, founder of Vanguard, said that you can control what you pay for advice not control the market. Giving away 2% of your long-term money will decrease your final accumulation by up to 63%. “Over a 50-year investing lifetime, that little 2 percent fee will erode 63 percent of what you would have had. As Bogle puts it, “the tyranny of compounding costs” is overwhelming.”

Let the ‘Bs’ guide you: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment-advice/dp/1523693045

Why market timing does NOT work

JPMorgan found that the 40 best days accounted for more than the entire S&P 500 return from 1993–2013. If you miss the best days trying to time the best exit and enter days, you end up with returns just above the inflation rate: 3.79%. Buffett says: “The stock market is a device for transferring money from the impatient to the patient.” We need patience while it is going up and going down. “A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money.” Why? Because no professional has beaten the market return over time. They say they have but they picked two of their lucky days to market their hype. Research: from 1871–2016, the 5 most positive monthly returns in S&P 500 history came in the 1930s as the U.S. came OUT of the Great Depression.  Time to BUY: smart money moves to Vanguard.

Stay invested to win: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

JPMorgan counting on us buyandhold investors to save them

Speculators who send stocks down by selling to avoid the lows in a panic like the current one are counting on us long-term investors to bail them out according to JPMorgan. Strategists at the bank reckon there’s a good chance that buy-and-hold managers like pension funds, insurers, sovereign wealth funds and the like are ready to stabilize markets with stock buying in order to rebalance their portfolios away from bonds. Stocks have fallen so much that many institutions will be forced to sell bonds to rebalance their holdings. Some analysts say that rebalancing is not necessary since stocks and bonds eventually rebound to their original ratios in the long term. Rebalancing is actually selling winners before their time. It is a form of market timing. Tortoise not hare wins.

https://www.amazon.com/Dont-Re-balance-Your-Portfolio-Research/dp/1508802386

How teacher 403b plan advisors get paid

Teachers may be losing HALF their potential retirement funds to advisors and plan sponsors. Some 403b plans are actually annuities with excessive fees—2.5% a year plus recordkeeping fees, maintenance fees and contract fees. You might be contributing a great amount of your salary every year—$4,400 a year—but plans are taking $2,000. If you invested in stocks and your account grew to $500,000 by age 66, you would be paying over $12,000 a year for few services. Services would be in the form of a telephone service center, not a live advisor. Even though your school organization is charged by law to provide fiduciary duty (best options for you), they contract it out to an insurer or other “third party.” There are so many ‘mouths’ to feed that you are left with the crumbs. 401k plans at larger organizations are now repaying their workers after many years of overcharging for retirement fund services. Your teacher union may have already started action against your 403b plan administrator. Robbing you blind.

403b robbery: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Who got rich from the last bailout?

Your tax dollars are going to make many rich people richer. During the last bailout crisis, even the foreign banks and profitable firms  got money they did not need. None of them said no. This time Boeing, which killed a lot of people from bad management, wants $60 BILLIONS of our money. The whole leisure class industry wants $BILLIONS including The Boss’s hotels, golf resorts, and global properties. Most of those crying for bailouts had large surpluses from huge profits during the last 12-year bull market. They spent it on themselves—buybacks, CEO bonuses, more jets, etc. Remember, many of these firms have paid no taxes for years. Like The Boss, they have used every trick in the book to avoid paying their fair share. An unbiased analysis of this situation would be that America is a socialist country for the rich. We pay subsidies to profitable firms and have been doing so for decades. Subsidies to the elites is what American is all about. Even our Reps use info illegally. Lobbyists tell our Reps what to subsidize in return for election money. 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. He promises agribusiness price guarantees and support payments to keep that group voting for him. The national debt has surged from $20 trillion to $23 trillion since Trump started. He promised to pay it all off.

We keep paying: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

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 file your tax now for refund. The payment, if any, can be in July; the filing should not. Rumors confirmed: filing delayed to July 15. Check your state for deadline. The federal and state filing 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. File now for refund: 90 day interest-free extension if you owe.

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: “I don’t take responsibility at all.” ‘I quit’

Mob Boss and his lieutenants have not been tested since it is a hoax

Mobster’s mob will test everyone else but the Boss and VP

Mobster: “The markets are going to be just fine, just fine.”

Mobster’s hotels/clubs get $650/night/SecretService guards

Mobster to hide bad news on jobs: re-election in view

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Opioid lawsuit lawyers to get over $3 BILLION: Prosecutors get vote $. Victims get __?

Anti-robocall law signed but no effect: still 4.7 Billion calls in Jan. Doubled since 2017.

Pelosi passes free screening, unemployment funds, some leave, some food, T cuts food stamps

States told to buy their own corona supplies but Trump out bids them for stockpiling use later.

His ‘Hoax’ proves His Wall is not worth the money: businesses still hire undocumented

Vaccine trials begin but takes a year to know if it works: How virus spreads to each age.

Do you have lobbyist to get you a bailout too? Airlines, casinos, ships, surplus spent ‘18

McConnell’s bailout to his ‘friends and family’: "industries of national importance" Socialism

Congress persons use insider info to sell their stocks before we knew corona pandemic. Felony!

SCAMS/SPINS:

The ‘Hoax’ is NOT going away as predicted: Science can help if The Boss forgets self.

Trump: My Wall will protect US from coronavirus: except sick who already fly here

“Someone else” fired the national security team for pandemics. “Nasty questions?”

Navy hospital ship not available for emergency: being painted.

GOP asking sitting judges to retire so The Boss can install his kind of ‘justice.’

GOP hinders changes in voting measures to block more Dems casting votes.

IRS borrows to cover delay in tax payments and Boeing etc bailouts. We pay interest bill!

Congress gives virus mask makers protection from suits if masks are junk. We lose!

GOP conspiracy Jones pushing his products to treat corona: propaganda of worst kind.

Politicians, foreign and domestic, using pandemic to move public fears!

US leadership reached its bottom with corona: Just propaganda game to them.

You can be murdered in your bed by police: ‘The Public’ reported guns in house!

Gun and ammo sales surge in US with coronavirus fears. ‘Better safe than sorry’?

New hack strategy: I got an email from vendor with link to special document: FAKE

William & Katherine Alverson Healthient caught fraud to shareholders shares $4 mil

Denis Sotnikov FL caught selling $26 million fictitious high-rate CDs.

Christopher McClure CT caught selling bad paper with undisclosed fees

Stephen Peters VisionQuest caught $10 million ponzi loan notes fraud

Banks claim to help victims IF you can find branch that’s open: Still 24% interest charge

Wall Street Pros are panicking for qtr bonus: smart money moves to Vanguard to buy.

Ventilators too expensive for hospitals: we suffer

Avoid Alzheimer’s: study shows curiosity and an aversion to conformity keeps brain fit.

Health care sharing ministries policies cost this person $40,000: Saved by ObamaCare.

Hand sanitizer kills girlfriend in deadly fire.  

911 calls to police for toilet paper: OR police complain of calls—use salt-water sponge!

Corona in 5 days: from exposure to symptoms takes about 5 days on average.

MSC Meraviglia Miami passengers flew home: no one tested before spreading to country

Keep track of all the FAKE virus info: eg: blacks NOT immune to virus; test NOT costly

Kushner and brother CEO Oscar Health directing victims to Oscar’s own facilities.

Evangelicals’ Dead Sea Scrolls are fakes: $ millions spent--faith was not enough. Like Lost Ark

Jobs

An estimated 200,000 nursing positions to go unfilled at hospitals across the country. 

Shortage of priests in time of need

Amazon needs 100,000: corona self-quarantine drives online orders and takeout.

Doctors sleep in basements garages to protect their families. Hospitals full.

Who owns your account now?

REFI time? Fed rate 0% means lenders can earn all you pay on your money! WOW

3 states re-open ObamaCare for needy

Retailers forced to give sick leave: do you go to work sick for pay or lose job?

Miracle:

National Emergency: Are there enough test kits? Where to get tested if symptoms?

Out of blood? The “Hoax” causing shortage: BYOB bring your own? We can’t make it.

60,000 out of 80,000 people have recovered already from the coronavirus: most in 2 wks

CA man provides toilet paper to those in need from those who share: Hoarders note!

All NBA teams get tested but those with symptoms do not get a test: class system?

Vaccine discovery from stem cell research nixed by Pence: fear of election loss too great!

IAN

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Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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