Your Wealth Reserve: Buffett's One Decision strategy

Warren Buffett, smartest investor of our time, says investing is simple

Warren Buffett, the most successful investor of our lifetime, just proved that there is only One Decision you need to make to reach your lifetime goals. He bet $1 million on a One Decision strategy against a Wall Street guru with 4 different strategies.

He beat them all. It is simple, he says. Buffett thinks the wealthy don't follow his advice because they think they are smarter than everyone else. But a business person realizes that it is impossible to pick the next Apple or Google. Just like most people know they will not win the lottery no matter how many tickets they buy. But they still do it. They don’t know that as little as $9 a day $250 a month, invested over time, can produce $1million.

Take the Buffett way: https://www.amazon.com/One-Decision-Investing-Buffetts-strategy-ebook/dp/B07FRMRC7F

New ways the wealthy avoid their fair share of taxes

Though President Trump’s tax law increases the amount that can be passed to heirs, these thresholds expire in 2025—if a new federal administration doesn’t change them first. Wealthy people might look to longer-lasting vehicle to pass on wealth: dynasty trusts. With a dynasty trust a taxpayer transfers assets to the trust. The trust assets move from generation to generation with no corresponding payment of taxes. America ends up with a class society even though the upper class hates to admit it. Since the trusts can foot the bills of the next generation without taxes, we have to make up the loss of govt revenue since the rich use the courts, police, military, roads, airports, etc. As long as the estate tax and generation-skipping transfer tax GST lifetime exemptions of $22.36 million per couple are applied to the assets placed in the trust, the assets and their growth are out of the estate of the grantor and they can pass to multiple generations free of taxes.

Use your tax credits to avoid paying their tax: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Is your advisor like UBS with $2 million minimum?

Since advisors cannot promise or actually provide recommendations that make your portfolio compound at 11% over time, you may be using your person just for the prestige factor. Most big full-service firms charge too much to give you outstanding returns on a consistent basis. You could just buy Warren Buffett’s stock and earn 19% per year. Several of the super rich have done that. If your advisor is trusted to give you advice on all financial matters, including retirement income, make sure they are accounting for both income and growth for many years. Inflation is the big problem as you spend down your RMD and other funds. Unless they are themselves retired, they don’t really know how to assure income and growth for 30-40 years. Bonds and annuities are not enough.

https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Is a Medicare Advantage or Medicare supplement plan right for you?

Medicare Advantage plans, or Part C plans, are comprehensive benefit packages offered by private payers and funded by the Medicare program. Medicare Advantage payers may also offer plans that include additional services or benefits to members for a higher premium. These private plans receive a set amount of dollars per beneficiary to provide health plan benefits. They may also offer other benefits for extra premium. It is possible to have no out of pocket expenses with some of these plans. They sponsor various types of health plans including HMOs, PPOs, private fee-for-service plans, and HMO point of service plans that offer out-of-network services for slightly higher costs.
Medicare Advantage plans can provide special needs care—Medicare/Medicaid, acute settings, and high-cost chronic conditions. Beneficiaries need to be eligible for Medicare Part A and Part B. Medicare Advantage members can have Part D coverage.
Medicare supplemental insurance, or Medigap plans, are health plans sold by private payers to help cover copays, coinsurance, or deductibles not covered under Medicare insurance.

Buy only what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Is the new GOP savings account right for you?

A House bill with tax cuts for the wealthy has been sweetened with a new tax-free savings account for the rest of us called, the Universal Savings Account. This account is intended to help those without enough income to pay taxes. It is great for tax-free earning: your money grows without taxation. You can contribute up to $5,500 after-tax each year, and use withdrawals for any reason at any time. Funds can be invested in bonds and equities, and those earnings grow tax-free. Withdrawals are tax-free and can be recontributed. Contributions are not tax deductible like a Roth IRA.

Most Americans lack the recommended savings level of three to six months of income. This issue is compounded by stagnant wages and a weak job market for unskilled older workers. GOP says this flexible saving account option will encourage savings. Actually, the tax cuts for the rich portion of the bill will cost savers in the future.

This account may be perfect for some savers but those who need to save usually do not have enough income to let savings grow. A Roth 401k or IRA provides the same tax-FREE benefits. A regular IRA allows savers to deduct the contributions to lower taxes.

Find the right plan for your needs: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

Another tax cut benefit for the wealthy

Inside the Trump giveaway is the ‘Investing in Opportunity Act’ which claims to attract massive amounts of cash into impoverished neighborhoods by offering wealthy investors and their corporations a chance to cut their taxes even more. Each state makes “O-zones” which allow investors with tons of taxable gains to erase the taxes and make the profits tax-FREE. That means unlimited tax write-offs for fed, state, local taxes. As you can see even in expensive Manhattan, the wealthy can avoid 20-40% taxes. The wealthy don’t even have to get their hands dirty themselves. A developer like Trump and friends takes the investment funds to renovate/rebuild/reinvigorate/rehab/re-etc etc. Trump and friends end up with no tax on their project which could provide profits for ever or for sale. In all, the wealthy receive 3 THREE tax breaks. See the examples here.

You can use your tax break: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

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Make

~~America~~

, “The Don”, Great Again

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