Friday, March 24, 2017

Your tax refund could create a tax-FREE retirement

Your tax refund could create a $1 million tax-FREE retirement
With The Don and his people under criminal investigation, what do you do with your refund? TrumpWorld has given Wall Street the jitters so stock investors are going to have to reassess their positions. Do like the best investor Warren Buffett does: Be fearful when others are greedy, and be greedy when others are fearful. When stocks fall, they are on sale and it is time to buy. Since we don’t know what an individual stock will do in the future, we buy the whole market. Since a market index fund can cost almost nothing, 0.05%, we do not waste our money on a seller’s commission. Vanguard 500 Index has returned 14% a year recently, we can use it. Since 1976 it has returned almost 11% a year. Our refunds can create a $1 million tax-FREE retirement using a special IRS account.

Trump voters are finding his budget unacceptable—want recall election of Trump adm.
Cutting the heating subsidy in rural counties means some supporters will have to move. Cutting miners retraining program means some supporters will need to go back to hauling trash. Some supporters see the value in cutting programs but not the ones that help their neighbors with legal problems. They can’t afford a lawyer so Legal Aid helped them save their home from a $14 tax forclosure. No more. Meals on Wheels is an effective program because the meals the elderly need are delivered by volunteers at no cost. Around the country folks at town halls are making the point that without the so-called “collapsing” ObamaCare, they would probably be dead. But Obama’s program is not collapsing. People who use it are telling their real experience.
Congress and Trump billionaires don’t use ObamaCare so they don’t know what they are taking away from us. Even if you have an employer plan, we will lose help on disputed claims, preventive screenings, and no cap on the cost of our care. 10 cities hit hardest from TrumpCare. Ryan and Trump have used the “collapsing” argument to scare people who don’t know. They promise ACCESS to substandard coverage like we had before Obama. The other “silent majority” seems to be activated and may give Congress people pause before passage Thursday. TrumpCare bill provides the wealthy 1% with a $165 billion tax break. He just added $85 Billion slush fund for states and capital gains break retroactive to Jan 2017. Cancellation of popular programs like Wheels, Legal and ACA will do great harm and will force Dems to get out the vote for the 2018 Congress Sweep.
Socialism for the Rich is not helping Trump voters.

Prepare for TrumpWorld: Use your Retirement Income Checklist
There are so many unknowns in our futures that we must plan a FLEXIBLE financial future. We can anticipate some expenses but generally, we must plan for a range of possible futures. Trump says he will keep Social Security and Medicare but GOP says they will cut benefits. He says he will rebuild America but his budget says cut important spending like a heating subsidy. Instead he boosts corporate subsidies. He cancels the rule requiring advisors to give us the best advice. He cancels bank failure protections. He cuts clean air, water, and social net. He wants more battleships and nukes but says no more costly wars against terrorists.  It is hard to know what he will do.
How will you cope with TrumpWorld? For instance, if you stay invested in some stock mutual funds to overcome inflation, how can you avoid a prolonged flat market? If you count on fixed income like bonds or annuities, what happens if inflation roars back?
Today, retirees need to plan for 30 years AFTER working. Your need two budgets—one for now and one for the survivor.

FREE tax preparation—Yes, part of Social Security can be taxed
Advertising to you is how they pay for free credit score and “free” tax prep needs your views to obtain dollars from sellers of financial services and they give you software to file federal and state taxes at no cost. If you need to file a simple return, this is the cheapest way. Usually simple means you have W-2 income and few deductions. The IRS has a topic look up so you can find the answer to your question easier than waiting on the telephone for an operator to answer: Also, you can do your federal online FREE using commercial sites through the IRS These sites charge for a state return. You can also use a local AARP tax aide office: AARP does not discriminate by age or income so they can usually take care of most people. Best tip: deduction for IRA contributions and tax credit up to $2,000 subtracted from tax you owe. Double Your Pleasure. 

How can you leave your brokerage advisor for a better deal?
I help people do their taxes as an AARP tax aide. Some have brokerage accounts or mutual funds that are not giving them the returns they want. They can’t tell me what their advisor has put in their account when I try to determine short or long-term securities. They look like they never even asked what they own. I cannot discuss their assets or situation since I am a volunteer with AARP. However, I point out that many investors are going to Vanguard because of the low-cost funds they offer—both index and managed. Retirees do not have enough time to weather a market storm of minus 25%. Typically, advisors move their clients into bank-like securities—GICs, Stable Value, Cash equivalents—when they stop working. But clients have 30 to 40 years ahead and need growth and income. Actually some have huge bank savings producing $400 to $800 in taxable interest every year. I can’t suggest that they buy a balanced fund like Vanguard’s Wellesley Income so they can earn 8-9% for their future retirement needs. I use this fund to provide my own RMDs since our IRA distributions are considered ordinary income anyway. We are paying the taxes we owe and converting them to tax-free Roth assets.

The Don cannot stop telling LIES—LIES are catching up so no deal on health
What do Trump voters think about his lies? IRS says there is no reason he cannot release his taxes. The Don says voters don’t care yet 74% say he should release his tax returns. His voters wanted affordable health insurance coverage NOT just access to substandard coverage. They don’t want to file bankruptcy because of a hospital stay. His voters wanted to shake up the system but not end miners training, clean air and water, Meals on Wheels, child lunch program and Big Bird. Why aren’t voters upset that Trump did not cut the $ billions of corporate subsidies and lobbyists instead of programs for the poor?  And what about drug prices he promised to cut? Why hasn’t he negotiated lower health care costs? Do voters get a laugh when he accuses the former president and our allies of tapping his phone? Do his supporters think FBI lies when “no support” for Trump’s claim of wiretap? Do his voters still think Obama is not an American after Trump kept saying it for 5 years? Do voters like his unseemly deference to the dictator Putin? Are they OK with Putin invading Ukraine and Eastern Europe? Why do many of his top people seem to be tied to Russian oligarchs? What does Putin have on Trump that causes this softness?
Do voters believe the crazy entertainers that permeate the conservative radio, TV and blogs like Rush, Fox, Levin, Breitbart, Info, etc that tell Trump what to think?
“I can’t be doing so badly, because I’m president, and you’re not.”

Are voters scared that his naiveté, lack of judgment and gullibility to B.S. will start WWIII with the N. Koreans and China?

“Facts are stubborn things,” John Adams said in 1770. 

We have entered the Twilight Zone:
"There is a fifth dimension beyond that which is known to man. It is a dimension as vast as space and timeless as infinity. It is the middle ground between light and shadowbetween science and superstition, and it lies between the pit of man's fears and the summit of his knowledge. It is an area which we call the Twilight Zone" where “alternative facts” and illusions of conspiracies are lived out. Lies are considered true. Truth is what the loudest voice says it is over and over.  
Rod Serling

Remember, Don Trump is still a contractor from Queens NY,
just richer than most. As a promoter, his income is from lending his wealth “brand” to other’s buildings and golf. Secret Service needs extra $60 million in taxes to cover sons to travel to promote Trump properties worldwide.

Bannon called himself a “Leninist” who wanted to “bring everything crashing down.” State Dept being decimated. Putin thrilled with cuts in aid to 3rd world, NATO, etc!
Putin got GOP party plank to drop sanctions on Ukraine invasion

GOP cuts programs of folks who have no power to oppose cuts. Cowardly
The Don (Putin) does not like diplomacy, aid to poor, US environment or culture.
19 Agencies you may use being cut from American society: The Don does not like Meals on Wheels, Sesame St. NPR radio, Arts, Miners retraining, 62 in all for $343 billion

What GOP does NOT cut:
No cuts to subsidies to Boeing, GE, Intel, Nike, Shell, Fiat, GM, Ford, hundreds more.

Lies or “Alternative facts” of The Don: Promises (lies) and Actual outcomes:
Trump: “Everyone is covered” in GOP plan except the 24 million who cannot afford it.
Trump accuses Britain of spying on him for Obama. Pissing off our friends. No apology to Brits for his mistake or to Obama for accusing him of a felony. Like birth cert. LIES

Putin’s FSB does surveillance of Trump campaign; makes it look like Obama for chaos

“ObamaCare has been total disaster” scare tactic works for some supporters in KY
The Don threatens House Reps over health—“you will lose in 2018” Kicks in $85 Bil.

GOP claims EPA is releasing "propaganda" that is "brainwashing our kids
For the first time on record, the Gulf of Mexico never fell below 73 degrees

We all thank the president for not destroying our health care system this year. We get to keep our 10 essentials that keep people alive—screenings, pediatric, mental health, etc
The Don is not good at deals that are complicated—“health care is complicated
Kaiser Foundation calculated that average deductibles would be $1,550 higher than under Obamacare

Mattis Defense owns General Dynamics stock as Director and paid fees by contractors 
Conway’s husband to be the head of the Justice Department’s civil division.

Putin influence: Putin marks all over Trump’s crew—“more than circumstantial case.”
The Don was naïve about Russian influence among lieutenants. Spicer claims Trump never asked Manafort, Flynn, others about pay from foreigns. He never vetted them about who paid them during campaign—Manafort, Page, Flynn, Stone, Tillerson, Ross, etc Connections chart. Manafort was campaign manager paid $10 mil yr by USSR.

Putin influence: Russian foreign minister Ryabkov met with Trump campaign. “But we will of course continue this work AFTER the elections.

Putin influence: State Dept senior people and budget cut—Tillerson out of Trump loop.
Ivanka meets with Germany instead of Sec State. USSR medal

Putin influence: Europe, NATO, dissed by US —Tillerson skips NATO for Putin

            Millions of GOP (Russian) votes were illegal. Recall necessary in November.

Regulators are the only protection against corporations since we can’t sue anymore

Pat Churchville and ClearPath caught running Ponzi in Providence got 7 years jail time.
The Don’s Ed Dept increased fees for student loan repayment-gift to DeVos lieutenant.
Experian caught deceiving us about credit score: lenders do not use theirs for decisions.

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own
GM killed 124 because ignition switch pin not replaced after knew it killed first in 2006.

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 one and shoot first. You and thief have guns. CO schools now allow teachers/administrators to carry guns in the classroom. Kid lesson! Since 2015, police have killed 86 people with realistic looking FAKE guns--suicide?

FL makes it easier to kill if you feel threatened—“prove I didn’t feel threatened” Ha

A California waiter demanded to see 4 Latina women’s ID before he would take their order, refusing to serve them until he saw “proof of residency.” ?? He was fired.

Ignoramus Award:
Yesterday, Trump’s lieutenants praised the Washington Post’s parody of their budget because they never read it. See below from White House Agenda for Friday:

Your 1600 Daily from

Watch yesterday's press briefing with Press Secretary Sean Spicer and OMB Director Mick Mulvaney here.

The Washington Post: "Trump’s budget makes perfect sense and will fix America, and I will tell you why" Read More

We fired field workers. No one wants to pick produce. Farmers have even raised wages. 

How our government wastes our money:
We are technically in default having reached our limit of debt for the year.

Where have all the jobs gone?

Which job board sites are best for your job search?

Cancel Robo calls with Mr NoMoRobo:

Conservative host was honest about wanting women’s choice. Honesty does not pay.

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