Friday, October 28, 2016

Your retirement plan takes 63% of your nest egg?

How much has YOUR retirement plan stolen from you?
The people who work for non-profit institutions often have the WORST retirement plans.
In fact, millions of people—teachers, clergy, nonprofit and charity employees who have NO say in their 403(b) plans—may be losing $10 billion each and every year to middlemen who do little to help them, according to Aon. Over your lifetime of saving—and teachers are some of the best savers—your fees will erode 63 percent of what you would have had. Fees go to sales people you have never even met. In short, because of the financial products forced on you by your employer, you may end up with $100,000 instead of $150,000. Your union and your employer actually went along with this HUGE rip-off knowing (kickbacks) the plan options you had to take were not the best. There is no oversight of the insurers and mutual fund firms that take fees up to 2.5% instead of the normal 0.5%. 403b plans are their “cash cow.” These firms know you know nothing about investing, so they throw hundreds of costly options into your plan in the name of choice. Worse, some public employees will not receive Social Security. Most honest advisors use index funds or ETF for unsophisticated retirement savers. And the rip will go on since the new Fiduciary Rule (client’s interests first) does not cover the 403b.

Is a market index mutual fund right for you?
What criterion do you use to decide about your advisor’s recommendations? Do you try to understand why that security is picked? Can your advisor tell you why this one will help you reach your goals in what time period? What are the alternatives that might entail less risk? Index funds and ETFs (commissioned index) replicate a market return if they have low fees. Cost is the best predictor of your investment success. So that is the first question I ask. You need to know about the history of a security/company you buy. No investment product is perfect so you may be safer with an index that contains 500 companies not 1. Broad market indexes are popular because you’re buying many firms. This protects you from one firm or sector failure. Stocks have higher returns when you hold them for over 15 years so for that part of your investments, they are right for you. If you need another part of your money to be there when you need it in less than 15 years, a low-cost balanced fund with bonds can provide 9% a year.
Vanguard’s best funds have provided over 11% over time:

How much can you invest in your retirement account in 2017?
IRS just announced the new 2017 limits in For IRA and Roth IRA contributions, it remains $5,500. For 401k, 403b, 457 and TSP it remains $18,000. A deductible IRA cuts off at AGI of $196,000 if you have no plan at work. It is $119,000 for marrieds who have a plan at work and $72,000 for singles. For those of you in company pensions using 430c2d excess employee compensation you have a special election up to $1,115,000. If you already have a healthy IRA, you can convert any part of it to a Roth IRA making it a tax-FREE shelter for the rest of your life and your heirs. This can be your family legacy plan at no extra cost too.

Your vote counts? Lobbyists guide government decisions no matter how you vote
When a large corporation has a problem with the government, who do you think they call to fix it? They call their lobbyist like Teneo. They pay our former President, congress person or Speaker of the House to go talk to their friends who still collect measly ($100k) government paychecks. They take them to lunch or pay for this or that. VoilĂ  the decision comes down that fixes the problem. What Teneo and others are selling is access. Corporations buy “juice”; influence and it is a deductible expense to them. “The ability to bring business and political leaders together to meet the C.E.O.s was all part of the selling point.” $1 million a month buys all kinds of influence in 12 different areas—regulation, security, negotiation, diplomacy, financial, etc. For instance, Ms. Abedin worked for Teneo while simultaneously worked as Mrs. Clinton’s aide in the State Dprt. There are over 10,000 lobbyists “running” this country. Don or Bernie don’t have a chance. You need “juice” to change things:

Use your Tax Credits to avoid income taxes like Trump
Most of us receive only 4% of federal tax breaks like food stamps and Earned Income Credit if you are poor or the property tax and mortgage credit if you are middle class.
The Tax-Credit Class pays less income tax with capital gains and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on earnings while we pay 33% total tax. The Tax-Credit Class pays NOTHING on assets they got from a “rich uncle” and on their home when they sell. Most of us don’t “itemize” so we lose all kinds of tax credits. We pay 33% of income for many taxes. We are nickel and dimed for 97 kinds of taxes. The Tax-Credit class deducts medical expenses, job hunting and work expenses not reimbursed by others, deferred compensation (bonus and stock portfolio worth more later), investment loans and costs, investment losses, stuff they lose, stuff they own. They can eliminate income tax by listing losses from buildings, race horses, farms, oil, leasing and businesses they own as partners, LLCs, C and S corps. Trump actually deducted $916 million but most of it was other people’s money. Some bank debt was cancelled which normally is taxable but not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE for 18 years.

Which liar will win American’s vote?
Neither can re-create jobs of the good old daysWe don’t see either one as President.
Do-Nothing Congress will decide US future by doing nothing for more 4 years.
Trump Network: Don’s son-in-law, Kushner, to start Trump Network Now on FB
            You know I couldn’t live on the Presidential salary—a “step down” for me.

Don:    “now we're supposed to send them out of the country, I don't believe in that” 2012
            There are now a dozen who claim I was a bad boy—suing each one on 11/9.
            At least a Las Vegas paper endorsed me. Most supporters don’t read anyway.
            Liberty University students say I am the antithesis of Christian values—Rigged!
            I gotta be numero uno. Fear public embarrassment most.
            Putin aide emails hacked: started Ukraine war and cyber war for power.
            “we should just cancel the election and give it to Trump," megalomaniac says.

            Worst campaign? Maybe I didn’t really want to be President. I have job already.

Mike:    Polls are rigged so we spent more on hats ($3.2 million) than on polling $1.8 mil.
Hill:     “pay no attention to the polls.” FL leaning to Trump so “no complacency” please
            Congress ALREADY set for my public “hanging” in Chaffetz committee.
            Don says I met ‘international banks to plot the destruction of U.S. sovereignty’

Tim:    "Florida, you guys are a checkmate state
            Trump promises to settle his scores [suing accusers] in first 100 days as POTUS.

This election like 1964 LBJ Goldwater: Gen Jack Ripper believes only he can save us too

How the party of Lincoln became the party of Trump—conservative means go backward especially among “Christians” who now accept immoral acts in their public servants.
            Therefore by their fruits you shall know them. Matthew 7:20

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!

Where were regulators—ITT stole $400 million from students and US? Lobbyists won.
ObamaCare: 44% favorably 47% unfavorably. 2/3 Dems 1/3 GOP say it’s working well.
William W. Gammon Towson, Md. Sold unsuitable investments given the clients’ ages
Lee D. Weiss of Boston sold unsuitable investments
Carolyn C. Kaufman, Hudson, Ohio, involvement in a case involving forgery.
Watch out in CO: Bud trucks are on auto pilot and may not see you going for a Bud.
IRS claims to have stopped fake ‘agents’ callers asking for tax bill payments. Hang up.
Trump Toronto near bankruptcy: another Don deal gone bad—investors duped.
Christie: all 7 people lied about my directing Bridgegate. Kelly: I was “a scapegoat.”

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

CR best cars to buy
Buick has come up in the Consumer Reports tests. Honda and Subaru have dropped. Lexus and Toyota have remained on top. Poor showing for Jeep, Ford, Tesla, Caddy.  Slightly used cars are a great bargain. You get the benefits without the new model troubles. Most reliable are the old favorites—Camry Accord Lexus.
And don’t forget your new insurance discounts: 

Do you still need to spend over $25; even $50 a month on cell service?
There are alternatives coming every week for those who need fewer bits every month. Now that you know your usage, it may cost you less with another plan. These plans range from $0 a month to $15:

Police want gun control.
When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has a gun hidden. You and real criminals both have guns. Body cams make it harder to plant evidence and stage scene for TV crews.

SCAMS: Feds “overpaid” National Guard to re-enlist and years later takes money back
Global warming: West Africa and Florida watching ocean take over more land
Bundy’s armed rebels go free--“ruling will embolden other militants to use the threat of violence” 

Ignoramus Award: Feds pay people to leave job and fight; then want money back. Congress knew 2 yeas ago and did nothing. Why do we pay Congresspeople anyway? Can we get our money back if Congress does nothing all year.

How our government wastes our money
Feds “paid” National Guard to re-enlist; years later takes money back. Never again!
IRS hires bill collectors: "Encouraging federal agencies to robocall individuals only creates confusion that scammers will inevitably exploit to rip people off."

Where have all the jobs gone?
Twitter layoff “hundreds” of workers—8% of workforce.

Who owns your account now?
Time Warner to AT&T
Reynolds American to British American Tobacco
Genworth Financial GE long-term care and mortgage insurance to China Oceanwide Holdings

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MontclairNJ 07042

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