Friday, August 18, 2017

Is your employer robbing you of your retirement money?

Is your employer robbing you of your retirement money?
More large employers (who don’t need the money) are taking your future nest egg assets.
Employees of New York Life are suing for all the extra fees they were charged by their employer’s mutual fund options. Employers are supposed to do the right thing in picking your nest egg options. New York Life’s own index fund charged 35 basis points. That is seven times what Vanguard charges for the same securities. That is pure profit to NY Life since they own this plan’s option. NY Life claims they paid a consultant for the plan options. In other suits, employers were taking kickbacks from the plan administrators. Employers should act as fiduciaries and use only the best options for employees.
Stop being robbed—use your own tax-FREE account: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938
 
How much does it cost for a $1 million retirement?
Most of us have no idea. Half of all Americans will not be able to live on Social Security and their savings. Yet, if we knew that we could guarantee we would have enough, would we do what is necessary with our current wages? What we don’t know that wealthy people know is that TIME is the key to converting our current spending into a million dollar nest egg. Most of us don’t shop to save on mutual funds or insurance so we pay too much to the middlemen. Our fees reduce the amount we could have by 63%. Instead of having $250,000, we end up with $100,000. We end up with $500 a month instead of $1,000 a month in retirement. All we need are the Tricks that savvy savers use for $1 mil.  
 
Are you getting shortchanged on your benefits?
Income inequality grows from your benefits package too. If the rich get richer, one way is they have better insurance, heftier 401(k) plans, and a sturdier all-around benefits package. And the trend is making America 's already wide income gap even worse. Employers spend a median of 38 cents of each compensation dollar on benefits, according to a Pew study. And as compensation goes up, so do benefits. For every additional dollar of average hourly pay an employee gets, Pew finds, employers spend an additional 67 cents on benefits. Workers with smaller paychecks, who can't afford to pay out of pocket for things like extra health care expenses and child care, get less support from their employers to meet those very needs. Many benefits come in the form of non taxable income. As benefits make up a bigger chunk of compensation, this further advantages those in a higher tax bracket. Tax payers subsidize the non taxable benefits.
 
Why your car or home insurance is NOT renewed
After you make a legitimate claim, your policy is not renewed. It happens often and for good reason. Insurers don’t like to pay claims even for legacy customers and for legitimate claims. They price for once-in-a-lifetime catastrophic loss not frequent dings. A property damage claim means that you are not maintaining properly and will have another claim. Jewels can’t be stolen or lost if they are in a bank vault. Two events mean you are careless and will have another claim to them. This pattern is a risk that cuts insurer’s profits. Insurers take on risk based on numbers. Size and number of claims that do not fit their profile are jettisoned. It is not personal for them. The fact that you paid for 25 years has no bearing because the numbers are done each year. If all your policies are with one company, all your claims count against you. All insurers share records on CLUE so it may be difficult to re-insure. Insurers underwrite for different risk and marketing strategies over time so you must shop around just like you do for a HDTV.
 
Estate planning made simple
You have a sizable IRA. You want to leave it to heirs tax-FREE. You can pay for a trust but the trust pays taxes at over 39% on income over $12,400. If you make the trust your beneficiary, that is a big bite. The best option is to convert parts of your IRA to a Roth. You may convert portions of your IRA strategically over time by "filling up" lower marginal tax brackets with Roth conversion dollars. Then each year in post-70.5-retirement, take out more than your RMD, pay tax and reinvest it in a Roth IRA if you are still working. Otherwise, reinvest in a taxable account with growth stocks NOT BONDS. Growth stocks or growth stock funds pay little current interest/gains so taxes will be minor. You may have to pay tax on SS benefits and pensions so your tax bill must be managed.
At death, your Roth IRA is tax-FREE forever. The taxable account moves to your heirs on a stepped up basis. At your death, the balance is tax-FREE. As their taxable account grows, only the gains above that amount are taxable at capital gains rates. Leaving an IRA, 401K, or annuity are taxable at the heir’s income tax rate!
 
 
Trump tax plan: tax cut for the very wealthy
Since we have a deficit and Trump has promised to cut taxes for the wealthy and corporations, where will the revenue come from except from us. GOP leaders have hinted that a “consumption” tax may be used. Everything we buy will have an extra tax. This is called a “value added tax” VAT in Europe . It is a national sales tax. Some call it a flat tax. Some claim it will increase growth because wealthy people will invest and build more business with their extra money. Others say that the wealthy already pay less (17%) than the flat tax with the subsidies Congress gives. They have already invested their excess cash overseas where labor costs are a tenth of ours. Fiat Chrysler moves car making to Mexico Canada but our tax subsidies of $2 billion continue for Fiat. Most agree that the biggest tax cuts are reserved for the wealthiest. Trump will eliminate the estate tax (which currently applies to only about 5,300 of the richest families) and scrap the alternative minimum tax, which is avoided by most wealthy people. Corporations already pay lowest rate of 12.6%. Some pay nothing. Most send overseas.
 
Can The Don really bring good-paying jobs back to US?
One of the GOP’s major promises for 2016 is bring back factory employment from overseas. "I will bring jobs back from China . I will bring jobs back from Japan . I will bring jobs back from Mexico ," he said. "I'm going to bring jobs back and I'll start bringing them back very fast." “I will be the greatest jobs president.” But who wants to work for $1 an hour. Even jobs of building The Wall means he takes jobs in farming. But during the last 3 years of Wal-Mart’s effort to create 250,000 factory jobs, it has hit two walls. Wages in China allow US makers to do more with less. Even when employees here reengineer to cut costs, the automation raises productivity with much few employees. Employers would more likely take a one-time automation cost than hire more people even at $7 or $9 an hour. Wal-Mart has created 7,000 jobs—a tiny fraction of the 5 million lost since 2000. The Don’s thinking goes against the trends of automation and lower wages for low skill jobs. Why doesn’t he spark solar & wind jobs since they are growing and climate is changing. Need flood walls not border wall. His record in casinos, golf, hotels has been dismal. He is better at avoiding taxes.
Join The Don in doing what he does best: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
 
 
GOP ‘religious freedom’ (for certain people)
PayPal founder got a cheer for being gay but the GOP law in many states says NO NO!
Congress may legalize discrimination against gays despite Convention cheers. GOP thinks the "First Amendment Defense Act" will protect the rights of religious institutions/people since same-sex marriage was legalized. But hate gay law is already in many states like Pence’s IN. “In most states, you can get married on Saturday, post photos of your wedding to Facebook on Sunday and then get fired or kicked out of your apartment on Monday just because you’re gay.” Trump said he will protect gays at his convention but he does not control GOP Congress nor the state lawyers. The law allows anyone to claim ‘religious belief’ as excuse to bar people on the basis of any sex act OUTSIDE of traditional marriage. Violates our civil rights.
Will Congress protect us from Trump using religion as a weapon against us? Trump is mining the evangelical Christian/white nationalist power source. They are twice as likely as those of other faiths to blame poor people for their economic status, a study found. Trump combines that with evangelical views on our destruction of Earth. His EPA is destroying 30 years of work keeping our home safe for future generations. EPA chief Pruitt thinks of ‘fossil fuels not as the remains of dead plants and animals, but as God's gift to mankind. "God has blessed us with natural resources," he told Politico recently. "Let's use them to feed the world. Let's use them to power the world. Let's use them to protect the world." As for climate change, that's not something humans are responsible for. "God's still up there," Pruitt's mentor, Sen. Inhofe, has said. Proof, his snowball melted in Congress.
Apparently, these Christians think God wants us to use up Earth. Do we get a new one?
 
GOP tax cut experiment failed – credit ratings fall twice
KS has given its wealthy a big tax break and now the state credit rating has dropped twice. Borrowing costs for state projects will rise. KS is now in the KY, IL and NJ class—no cash reserves. Kansas can’t balance its budget because GOP Sam Brownback lead GOP-Legislature gave tax breaks to the wealthy in 2012-13. The GOP myth is that the wealthy will create work and revenue. Instead they send their money elsewhere. Largest employer Koch expands in other states and countries. Koch spends $ billions to cut taxes nationally. All schools, infrastructure, and state pensions are degraded. "It's just the fundamental, ongoing budget crisis that's been caused by Sam Brownback's failed tax experiment," said state Senate Minority Leader. CA has raised taxes and funded all projects plus emergencies. Trump promises to work the KS ‘miracle’ for all states.
 
 
Trump children in charge of the nation?
Trump wants to fire all Obama-era workers. Will the Trump kids run State, Medicare, ICE, FBI, and Treasury? Can Pence really fix the economy like he did Indiana or did Obama’s policies? Can Congress pass all those bills—closing environment, education, health, oil gas water electric regulation, and taxation as we know it? They only work 111 days per year. Who will tend the golf courses and Trump product sales and rental buildings if Trump kids run the nation? Trump says only he makes the decisions.
Petty dictators are all alike. Opponents are criminals, public show trials, mobs shouting “lock her up”, other reckless vows. Convention was not GOP: ‘Trump Family’ branding: “I am the only one who can save you from violence” “I can fix everything” once you give me the power. Alpha and Omega incarnate.
 
What does it really cost to own a car?
As you know, if your car makes it through the 5 or 6 years of monthly payments, you still need to pay the maintenance, insurance, etc. Some cars are free for the first 3 years but after that some costs really get you—usually the most expensive. So, your beemer costs nothing to maintain, you say. Yes, but it was designed to keep BMW mechanics in the best neighborhoods. BMW upkeep are the highest according to Consumer Reports. But if you lease, don’t worry—just keep paying the monthly lease. Surprisingly the Korean cars are right behind 2007 Buick and Toyota low cost history. The most expensive cars—MB, Audi, Jag, Volv, and Porche keep BMW company. Selling costs you even more.
 
 
   
****************
TrumpWorld
Goal: Everyone knows the Trump brand around the world
 
 
Putin has captured Trump’s patriotism—Collusion with money-lending enemy?
Trump gives in to Putin: removes CIA from Syria leaving moderates to scatter.
 
Trump group places mob ties above country; it’s about money POWER not US service.
Russian lobbyists guide Trump crew and GOP on business interests toward Russia .
 
Trump is still just a mafia contractor from Queens—Fred taught him to be The Don.
Like mob boss, he threatens Senators
 
Putin Ambassador: “not on Trump side, we are on side of justice” Putin hacked elections.
 
Mobsters don’t call the FBI when Jr doing an illegal deal with fellow mobsters.
Mueller to DC Grand Jury for DC residents’ petit convictions.
 
 
 
My Theory:
No one expected him to win so no harm getting Putin help. Don owes Vlad’s mob money so they sent mob gofer Manafort to run the campaign. ‘Colluding’ Putin style.
 
TrumpWorld – using presidency to make money the old fashioned way: theft
Jared/Ivanka lied again on their disclosure: ‘forgot’ 77 more assets worth $millions
Jared in real estate money-laundering deal with Russian investigated by Congress
 
Trump hires MarLargo foreign workers not America Great workers.
Trump shop from Canada run by Germans sell us Chinese hats et all. Buy US???
 
Dictator talk time:
“When the president does it, that means it is not illegal,” Richard Nixon
 
 
Trump attacks individual reps for not voting his way—3rd world countries do this.
 
 
 
“The president can’t have a conflict of interest.” The Don is above the law?
 
 
Quid pro quo: "something for something."
EPA allow Dow use pesticide “dangerous to children” after $1 million to Trump inauguration.
EPA allow Big Coal to dump in streams after GOP ‘reps’ receive election money.
FCC allow Sinclair (right propaganda) to take 42 more TV ch. after Trump GOP funding.
 
Pence denies running: But he set up a political fund-raising organization, Great America Committee, and has hosted key conservative billionaires like Tony Perkins of the Family Research Council and lobbyists for Koch, $1 billion for state GOPs. Recently he hosted the Crafts, coal barons from Kentucky . He filed with Federal Election Commission.
  
 
How many Americans would vote to bring back Obama? He did things we need done.
 
Regulation is necessary: We need protection. Saves $12 billion of our money!
 
Trump gives cattle country to Big Coal and ranchers lose reservoir water/grazing land. 
Raymond Montoya, RMA Strategic Opportunity Fund caught running Ponzi scheme.
GM recalls 800,000 2014 pick ups: steering assist goes out
 
SCAMS:
Fox News has become Trump advisor? and voter information source.
 
Jobs:
 
 
 
Miracle:
What we don’t know: Universe is made up of 4 per cent ordinary matter, 26 per cent dark matter and 70 per cent dark energy. The 96% we can’t see but it has effects on stars.

IAN
41 Watchung Plaza, B242
Montclair ,  NJ   07042
973.746.2014
Alerts 
Posted by at
Labels: , , , , , , , , ,
Subscribe to: Post Comments (Atom)