Don’s business acumen is his greatest claim to be president
… but
“Atlantic City
was a very good cash cow for me for a long time.” Trump’s experience in Atlantic
City gives clues to running America
as personal business. He put up little of his own money, shifted personal debts
to the casinos and collected millions of dollars in salary, bonuses and other
payments. The
burden of his failures fell on investors and others who had bet on his business
acumen according to R. Buettner and C V Bagli. “There’s something not right
when every single one of your projects doesn’t work out.” “People
underestimated Donald Trump’s ability to pillage the company,” said Sebastian
Pignatello, a private investor who at one time held stock in the Trump casinos
worth more than $500,000. “He drove these companies into bankruptcy by his
mismanagement, the debt and his pillaging.” America
cannot use Junk bonds to get out of debt. America is not a deal he can use.
Avoid Don’s tax increase: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
Use your own tax shelter—your broker/advisor
is retiring with his/her
Working people have their own tax shelter—the Roth IRA. The
IRS § 408A is available from any large financial institution. You can contribute
$5,500 a year to buy stocks, bonds, ETFs etc and let the assets grow tax-FREE.
You can take money out FREE (contributions are FREE before 59.5 years; earnings
are FREE after 59.5 years). You pay a little tax now (15% on $3,000 deposit)
but NO TAX later (0% on $1 million). You deposit $99,000 total over 30 years
and spend ALL $1,000,000 later. Even when they cut pensions and Social
Security, you will have your million FREE of fed and state tax.
Fix Social Security by having everyone pay same 6.2%
New report says just have everyone
pay the same percent of salary. But they limit it to $195,000 salary. Why
the limit? Some wealthy Congressman set the limit in 1937. It is regressive and
needs to be changed. Poor pay higher percent than the rich. Currently, they don’t
pay anything on their salary over $118,500. Why should they get a break like
this? They get so many others—deduct stock losses, 2nd home
mortgages, mortgage insurance, rental property depreciation, investment
expenses, business losses, salary deferral, retirement gains, etc. Social
Security is the only income that the poor have: $1341/mo.
Avoid fed & state income taxes with IRS § 408A trust: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
Best investing strategy: Do Nothing—let compounding do the
work
Fidelity study of which accounts did best: people
who forgot their 401k and people
who died. Best investment outcome for stocks long-term is to let the money
work for you by compounding. Compound $9 a day to $900,000 in time. It can’t
compound if you trade. Buffett: own the best businesses forever. It makes you
wealthy. Traders only do well when they can move huge amounts of capital a
short distance quickly. Most of us with brokers/advisors earn just 3.79% vs the
market of 11% because we are afraid of loss or get greedy. Unless you know
the next Amazon ($5,000 invested in Amazon ‘97 worth $1 million today), this is
best deal. No timing, trading, charts, or broker/advisor.
Millennials don’t understand diversification, risk,
long-term
18-35 year olds are saving but don’t think about the “not
all your eggs in one basket” problem. Survey says 49% reported having an
“aggressive” risk tolerance and yet 65% said market swings make them
uncomfortable. 72% said that a portfolio was adequately diversified as long as
it includes a broad range of stocks. “These folks think a long-term holding is
five years” according to Bill Finnegan, AMG Funds. Perhaps young people have
not gone through the depressions and recessions to learn.
What does the new fiduciary rule do for you?
Up till now, your broker/advisor/agent could make a lot of
money from your retirement plans. https://www.youtube.com/watch?v=GB4LgkGXN8Y They pushed variable annuities in particular
because 6% of $250,000 makes their retirement sweet. Now they
must “prove” that that rip is the ‘best’ for you. Most times they can’t because
there are usually better outcomes for you (Not Them). However, it takes
learning about your options and usually you don’t have a lot of time or
knowledge. Low-cost
always beats high-cost according to Morningstar so ask questions. Your
advisor may not offer Vanguard or other low-cost options. They can still make
big bucks from you by following an exemption (BICE)
which requires them to claim they are acting in your best
interests. So the new loophole is that if they don’t know any “low-cost is
better than high-cost” products, they aren’t at risk. That’s like you telling
the officer you didn’t know the limit was 25mph while you went 40. QED:
Advisors are still salespeople.
Look before you leap: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275
Is home equity the way to finance retirement?
The fact that many homeowners have all their wealth
tied up in their homes and the home has tripled in value over the last 30 years
makes this strategy appealing. Consider the benefits and costs. Retirees are homeowners.
Of those with more than $100,000 in savings, about 90% own a home, according to
LIMRA. Among those with less savings, 70% are homeowners. The ability to access
home equity can save you from being forced to sell other assets at the wrong
time. "That is really going to improve a retiree's cash flow, especially
for people relying on withdrawals from their savings because they don't have a
pension," American College Hopkins says.
Make sure you have enough before you retire: https://www.amazon.com/Are-you-ready-retirement-worst/dp/149100266
Is an HSA right for you?
High-deductible health plans are becoming popular. Is investing in health savings account right for you? Contributions are tax deductible when used for medical expenses (you don’t need to itemize your taxes). Some employers match contributions. Unlike with flexible spending accounts, however, your HSA administrator isn’t obligated to verify whether withdrawals are for eligible expenses. HSA money withdrawn for nonmedical purposes is also subject to a 20% penalty if you’re younger than age 65. Unlike the Flex Spending Account, you do NOT need to spend the account by year’s end. Some states tax the interest earned in the account. After age 65, funds can be withdrawn for any purpose without penalty. However, income tax is due like IRA and 401k accounts. You must choose the HSA. Not all employers offer it. There is no medical threshold for tax deductions so every dollar spent is deductible.
High-deductible health plans are becoming popular. Is investing in health savings account right for you? Contributions are tax deductible when used for medical expenses (you don’t need to itemize your taxes). Some employers match contributions. Unlike with flexible spending accounts, however, your HSA administrator isn’t obligated to verify whether withdrawals are for eligible expenses. HSA money withdrawn for nonmedical purposes is also subject to a 20% penalty if you’re younger than age 65. Unlike the Flex Spending Account, you do NOT need to spend the account by year’s end. Some states tax the interest earned in the account. After age 65, funds can be withdrawn for any purpose without penalty. However, income tax is due like IRA and 401k accounts. You must choose the HSA. Not all employers offer it. There is no medical threshold for tax deductions so every dollar spent is deductible.
Retirees and Self-employed pay their estimated tax
electronically
You can use https://www.eftps.gov/eftps/
to pay your quarterly taxes for FREE. This system can be used to automate payments
from your accounts. It can used to pay any IRS tax. There is no need to send
paper by registered mail and hope it gets there in time. Your confirm is
electronic by setting up a payment due date at least the night before payment
is transferred directly to the Treasury. It is secure. It has a voice response
system (1.800.555.3453) to make payments too.
Control your taxable income and tax payments: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977
What does
Trump’s National Socialism stand for?
Reinstate older
white male value system: Make ‘WASP” America Great Again
Reinstate Christianity as the state
religion—bar
all others from public office
Reinstate Christmas and Christian
observance in schools, home, court, etc
Put up a wall, end trade, bring
back repetitive “robotic” jobs back from low wage areas.
Cut regulation of all business activity, lower
wages for women, pregnancy
Increase
subsidies to oil gas, corp farmers, Boeing, big business
Cut federal spending on health especially when
control women clinics
Don
will cut Medicare and SS benefits “if tax cuts don’t make big surpluses”
Cancel immigration for all from non-EU countries. Deport
them
Replace judges whose parents
came from a non-EU country or any non-Christians.
Cut funding for un-wealthy,
poor, schools. seniors, underemployed, kids,
etc.
Increase debt and devalue debt. Let Mexico
pay for the Wall by taxing imports
Create tariffs on imports
so we pay $6,000 more for stuff we buy. Middle class tax.
Trade pacts are no good for us and no good for our workers.
Abolish IRS, EPA, Education, Dodd-Frank
financial protections, consumer
protections
National right to buy
and carry any firearms anywhere anytime by anyone age 2 and up.
Install state gov that cuts
Medicaid, education, federal support payments, infrastructure.
“Lust
for executive power”—GOP House leader thinks Don wants to just snap
fingers.
“I
could stand in Fifth Avenue and shoot somebody and I wouldn’t lose any
voters.”
Don’s rallies begin with crazies
denouncing supporters--thrown out as “protestors.”
“The only thing necessary for the triumph of evil is for good
men to do nothing.” E Burke
Don: Voters
don’t need policy position papers. “It’s just a waste of paper.”
“They know
you’re going to do a good job once
you’re there.” Logic fails!
I was right
“I am trying to save lives and prevent the next terrorist attack.”
I ban
Wash Post and any media who aren’t “fair” in spreading my message.
I
accuse US soldiers of stealing money in Iraq—one answers--thieves were
jailed.
Hill: Hackers got my files on Don and my real
constituency. Oh my words!
Looks
like 1964 all over again. Goldwater had similar message for racists.
Paul: ‘This is one of my big concerns:’ Don’s
“lust for executive power.” He’s OK now?
Don’s statement “is definition
of a racist” but GOP has to go to dark side now.
He said he
could kill people on 5th Ave
and not lose support—He’s right! Scary
Regulators are the only protection we have since we
can’t sue anymore
“It is nearly
impossible for one individual to take on a corporation with vast resources.”
(GOP bill requires impossible: every person in class
action suffer “same type and scope of injury”)
Supremes
stop us from suing—State courts no longer available to sue corporations!
.Is it time for the
big one in CA?
. Owen Li caught
lying and cheating $57 million, confesses, and gets out of 5 yr jail.
.TN lawmaker giving
assault rifle AR-15 as door prizes for fund event: after Orlando
2.
.Orlando gun
store warned FBI: killer wanted body armor and more bullets.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
SCAMS
Fake IRS caller ask students to pay
a bogus student tax or face arrest or other penalties
Ignoramus Award:
GOP McCain said Obama
was "directly responsible" for the Orlando attack because Obama
executed Bush’s
2008 agreement to leave Iraq.
Don and GOP deny warming. Greenland
recorded its warmest
temperature EVER: 75. Ice melt season began a month prematurely.
How our government wastes our money
US spent $10 million to learn kindness
interrogation techniques wins, as per old Nazi
Taliban
now holds more ground in Afghanistan than at any point since 2001.
Who owns your account now?
LinkedIn to MS. Is it worth
$26 Billion? A website equal to HP or Marathon Oil in market value?
IAN
41 Watchung Plaza, B242
973.746.2014
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