Are you using the tax code to your benefit?
The rich pay only
17% total
while we pay 33% total. Use your IRS-approved tax shelter account to
avoid the taxes they owe. In retirement, you must take RMD from your qualified
accounts because you didn’t pay upfront. However, you may be missing an
opportunity to save on taxes. Let’s say your only income is SS and an IRA and
pension. Your SS
benefit is taxed based on the level of your other income. Couples over 65
can have taxable income of about $24,000 and pay no tax (SD+PE). If your SS, RMD
and other taxable income is $12,000, you could pull out another $12,000 from
your IRA with no additional tax. Converting that additional $12,000 with
no tax to a Roth IRA now allows your $12,000 (not taxed) to grow to
$24,000 (in 8 years) and never be taxed. Plus, if you do this
every year, your future RMDs will be lower, allowing more conversions at ZERO
tax forever.
Stop subsidizing America ’s
tax avoiders: https://www.amazon.com/Americas-Socialism-for-Rich-little-people-pay/dp/1535218584
We can have democracy in this country, or we can have
great wealth concentrated in the hands of a few, but we can't have both. Louis
Brandeis, Supreme Court justice (1916-1938)
Are you overpaying for your managed account
Some managed account firms are using a lower fee schedule to
attract your money. Some are charging 50 basis points (0.50%) to manage your
portfolio and just 0.25% to house it. Then when it reaches a good size, say
$400,000, you pay only $1,500 or $1,000 tops. This compares to the standard 1%
for management plus 1.5% of funds. Some firms use index and active funds in the
portfolios so that you cover the full range of risk-adjusted performance. These
firms are pricing for a discount of 1.5% compared to the industry standard. Vanguard’s
low-cost leader status is pushing this trend to lower fees.
Forget the middlemen. Get the best for less: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Is your 401k robbing you of a FULL nest egg?
Are your fees too high? New lawsuits show that Lockheed’s
$62 million settlement was the rule not the exception. You may have lost $
thousands since the plan took their fees off the top and you never saw them.
When your employer installs a plan, it picks the seller and investment options,
not you. You would pick Vanguard, with the lowest fees. Fujitsu,
for example, picked target-date funds created by a Shepherd Kaplan who charged
the retail rate of over 1% not 0.15% for new funds which underperformed their
benchmarks. Employees paid about $3 million in excess record-keeping fees
in 2011 alone. Employees were forced to subsidize their employer in a
‘revenue sharing’ plan.
Why Wall Street professionals can’t beat the market
Trent wrote a great explanation of what money managers
actually do to be top dogs.
Managers are really marketing firms. They would rather be
rich than be smart. Consider: you can pick thousands of managers of mutual
funds. How can they justify people giving them money? They must do some tricks
with stats to make it look like they lead the pack so we will give them money.
They must spend money to advertise. They must go to conferences and TV shows to
talk themselves up. They must do a lot of data mining to find that exact time
when their funds did well. If they are lucky they will have some story to sell
about their funds or themselves. Their fees lower your returns over time.
Earn market returns consistently: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490
You can avoid increases in state taxes too
In the future, many states will have to increase taxes to
cover huge pension obligations and collapsing infrastructure and state
scandals. For instance, NJ’s Christie
costs tax payers $10 million related to the Bridgegate scandal so far. He
has missed promised pension funding and road rebuilding funding. Christie
gave millionaires a break on taxes so they wouldn’t leave but they
did. KS cut taxes on business and the economy tanked. No one wants to move
a business there if the schools
and infrastructure are poor. KS took federal money for child support it
must return. KS has slashed funding for higher education too. IL has lost
millions of dollars in investment income because of the budget stalemate. Emergency
funding for universities, domestic violence shelters and food stamps will run
out soon. Primary and secondary schools may have a delayed opening. GOP-run
states are unlikely to reinstate taxes on their millionaire supporters.
Avoid your state and fed taxes: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
Auto claims can bump
your insurance premium. How much?
I have a claim—my
bumper got dented when I backed too far. Should I file a claim or pay myself. I
have comprehensive. How much will my premium rise? I have $1,000 deductible and
have saved $100 a year for 10 years. New site gives you the probable extra
premium you will pay: http://www.insurancequotes.com/auto/auto-insurance-claim-rate-increase-022216
I was happy carrying a higher deductible since I got a great rate years ago.
Site says my increase would be small but if I am in an accident in the next
year my next claim puts me at jeopardy of higher premium. 2 in 2 years is not
good.
Are NextShares right
for you or just marketing trick?
NextShares are a mash-up of a typical mutual fund - with a
manager buying and selling stocks or bonds in hopes of beating
the market - and an exchange-traded fund built to shave trading costs and
taxes. Traders can buy NextShares throughout the day, like ETFs, but they price
after the market closes, like mutual funds. But unlike ETF that try to beat the
market, NextShares
only reports holdings quarterly. ETFs report holdings daily and thus are copied.
So
you are buying a promise; not visible securities. The industry thinks they will
replace mutual funds because their structure makes them “big money-savers.” However,
you are paying the trading costs and the underlying fees which have not been
disclosed yet. It will be very hard for investors to beat the low-cost leader
of funds at 0.05%. Plus the new funds have no history. The industry is
desperate for new money.
Pay less; get more: https://www.amazon.com/Pay-less-Get-more-investment/dp/1500598321
Is your medical insurer being fair?
Your medical insurance provider may be overcharging you for
tests and procedures. If you have insurance with a high deductible, you may be
better off paying cash for the test. https://www.healthcarebluebook.com/page_ProcedureDetails.aspx?id=379&dataset=lab&g=Blood+Glucose+(Sugar)+Level
says this diabetes test costs $11. My insurer’s lab (LabCorp) has me sign a
form making me liable for $577 if my insurer does not pay them. If my
deductible is $2,000, I am way ahead paying cash with no insurance card. Does
my insurer pay $11 or $150 for the test? It is great how we get stuck from both
sides. We pay the premiums but we can’t get them to charge us the cash price.
We are subsidizing the CEO’s
$14 million pay package without the benefits. When I am sick, the last
thing I should have to do is dicker about price but this is our “best in world”
system.
We need to shop around with cash: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Don: I
may not actually serve if win election Wink, smile. ?
I can’t
release tax returns since I pay the “lowest
rate possible.” he pays minus%!
Pro
choice DEM for VP should help some delegates decide to quit. GOP
Platform
After 4,000 lawsuits by and against Don--he
rarely follows through. Scary!
57% embarrassed to work a firm that
paid for Don’s
coronation.
Hill: Can Cory
boost her creds? Kasich
would help in OH
DEMs
platform is a progressive statement—Do Nothing Congress will sit on it.
DEMs revive
togetherness
for Hill’s coronation.
Rick Perry: Mexican
wall will be a “digital” “technological” barrier, not
physical one
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!
.Harley caught brakes
may fail—recall?
.Chetan Kapur, ThinkStrategy Capital, caught
hiding $ millions with Swiss he stole.
.Fiat pays hackers so it understands how they
crash Jeeps remotely.
.FBI
goes to activists’ homes—“Don’t go to Cleveland ”
for protests. ACLU?
.Santander Bank fined for illegal overdraft service
practices—deceptive
marketing.
.Porsche recalls all
the 918 Spyders for seat belt mount
.You can't bring a water gun to GOP Convention, but you can bring an AK-47.
.When everyone has guns; your chance of being
killed goes up. Just by the numbers.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
SCAMS
The Eagles
try to kidnap Australian boy in bird show?
GM
can’t avoid death claims for killing 124 people by hiding in liability
bankruptcy.
Ignoramus Award: GOP
cuts off memoriam of the dead from guns in 2016 for vacation.
Pope
Francis appointed former Fox News Burke to serve as his chief spokesman?!?
How our government wastes our money
GOP
“demands” that Obama ask for money! --setting up a bitter political fight?
Deals?
Obama’s government posted a budget surplus
of $6 billion in June? GOP
$12 Trillion.
Christie
costs tax payers $10 million related to the Bridgegate scandal so far.
Zika will cost
more AFTER infections than prevention now -- Kids will need life care!
Who owns your account now?
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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