Tax-FREE Roth 401k
or Roth IRA?
If you are lucky
enough to have the Roth 401k offered by your employer, you must understand the pros
and cons of both Roth accounts. In both, you never pay tax on your
retirement accumulations. So if you can aggressively fund your Roth 401k, you
could easily reach $1 million tax free because your $100,000 total
contributions over time can COMPOUND
at 10% by age 67. If you can invest just $9 a day, $250 a month, you can
still have $1 million tax free at age 67, you just have to start earlier. If
you can’t do a Roth IRA because of limits, try a ‘back-door’
Roth. COMPOUNDING at the long-term stock
market rate of 10% means your money doubles every 8-10 years. Look at the https://www.bankrate.com/calculators/retirement/roi-calculator.aspx.
Most of your tax-free balance will be accumulated capital, not contributions:
FREE MONEY.
Pay tax now or much
more tax later: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938
Winning the $1
million ‘lottery’
$1 million tax free.
You can spend it all—no taxes. Usually you must pay HALF your winnings to fed
and state gov. $1 million can provide over $100,000 per year for life. Everyone
who plays this ‘lottery’ will win. This $1 million lottery is not awarded every
week. You must wait. Each week you buy $9 worth of ‘chances.’ You don’t win
every week or month but you WILL win eventually. This lottery is a sure thing
eventually because you actually are buying a piece of the profits of many
successful companies. Some companies make a profit every year and some make a
huge profit some years. Over time the ‘chances’ you buy get more valuable. Think
about all those tickets of your past losses in the drawer. They are
worthless because you did not win and every week you will lose—almost
guaranteed. Thank god, you have a better
chance of being hit by ‘lightning’ than winning any week. This lottery is
not a lottery but a sure way to own $ million worth of all the companies you buy
things from—groceries, electronics, toilet paper, electricity, cars,
everything. You own Apple, Google,
Microsoft, J&J, Facebook, Exxon, Morgan Chase, Disney, and more. The value of your
‘chances’ go up and the profits the companies pay buy more ‘chances’. Buy from
the largest ‘chance’ seller.
Buy the lottery that
you WIN: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Are songs royalty
streams right for you?
For those who have a crystal ball, buying the right to receive music royalties might be the alternative investment you have been looking for. Winning bidders typically get royalty payments on a quarterly basis, with a rate of return Royalty Exchange says is often in the double digits. The longevity of the royalty rights varies. Some royalty rights are limited to 10 years, while some offers include copyright ownership, which means the payments can last for decades. Some investors think royalties can never end. Royalty Exchange, the middleperson, launches three to five new auctions every week. Songwriters have a tax incentive for selling. Under the law, the money songwriters make from selling all or parts of their catalogs is treated as capital gains, taxed at 0, 15, or 20%. Royalty revenues, meanwhile, are treated as ordinary income, taxed as high as 39.6%. "There are people whose only real assets are their royalties," he said. "Their financial security is based around how they leverage those things."
For those who have a crystal ball, buying the right to receive music royalties might be the alternative investment you have been looking for. Winning bidders typically get royalty payments on a quarterly basis, with a rate of return Royalty Exchange says is often in the double digits. The longevity of the royalty rights varies. Some royalty rights are limited to 10 years, while some offers include copyright ownership, which means the payments can last for decades. Some investors think royalties can never end. Royalty Exchange, the middleperson, launches three to five new auctions every week. Songwriters have a tax incentive for selling. Under the law, the money songwriters make from selling all or parts of their catalogs is treated as capital gains, taxed at 0, 15, or 20%. Royalty revenues, meanwhile, are treated as ordinary income, taxed as high as 39.6%. "There are people whose only real assets are their royalties," he said. "Their financial security is based around how they leverage those things."
There are better
ways to receive income: https://www.amazon.com/Your-Retirement-Portfolio-Tax-FREE-Income/dp/1483994090
Does your
broker/advisor live in these states?
Connecticut,
Nevada, New Jersey, New York, and other states have passed laws
or proposed regulations that mirror some of the federal rule's requirements
to treat you with respect. Even though Trump cancelled the Fiduciary
Rule—you receive advice/product that is BEST
for you not for the institution—these states have or will protect you from
outrageous commissions and fees, inappropriate products, and misleading
information. Obama said without this law, you and I
could give up thousands of dollars when we moved our retirement money
(401k, 403b, IRA, pensions). My industry (financial: http://dankeppel.blogspot.com/)
can’t make $millions
and $millions by giving you advise without putting our own high-cost
products in front of you. In fact, most advisors and their firms don’t even
carry the best products for you because they must make money to survive.
Everything has changed in the last decade: discount brokerage, discount mutual
funds, discount insurance, etc. My friends and I have left the old industry
model.
Time you started
saving: https://www.amazon.com/Tricks-Trade-Mutual-Insurance-Annuities/dp/1535497289
Vital steps to buy a
house
Don’t even look for
a house before you understand
the process. No use frustrating your family if it can’t happen now.
Offerings and loan rates change daily. First, check your credit scores at www.myfico.com and errors at www.annualcreditreport.com. Check
rates on trial amounts at your bank and then shop around at www.bankrate.com and https://www.quickenloans.com. I used
them—very fast and efficient. Big banks have 10 plus people handling your loan
and it takes 3 times longer. Second, find out ‘how much can you borrow?’ The
final answer depends on your income and the lender, but usually it is monthly
costs (mortgage, insurance, and property taxes) can’t exceed 28% of your gross monthly income. Fannie
Mae increased its maximum DTI ratio to 50 percent, up from 45 percent, in
July 2017. Third, the standard down payment is 20% but you may find
exceptions: Federal Housing Administration or the Veteran’s Administration.
Fourth, your lender may want you to pay down debt or temporarily reduce
spending. If your family helps with the down payment, let it ‘age’ in your
account for a few months. Now you know what houses you can afford and can ‘lock
in’ a rate/terms. I used www.realtor.com
and found a 2 family to help me pay for the mortgage. Timing is everything. Get
your loan approved BEFORE you shop so you can pounce.
Save on insurance
too: https://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870
Is tax lien
investing right for you?
Risk
you must understand for this kind of game of chance. When a property owner
fails to pay property taxes, the municipality in which the property is located
can sell its tax lien — the right to foreclose on a property when the owner has
failed to pay taxes. So you can force payment plus costs plus profit by
threatening to take your neighbor’s house away and sell it. Most tax liens
purchased at auction are sold at rates between 3% and 7%. If the owner does not
pay you, you get to foreclose which can cost over $10,000. “It’s
complicated. You have to understand the details,” according to an observer.
Each state is different, so buying and collecting on a lien is how amateurs
fail. Compare alternative assets like owning
diversified real estate funds: REITs.
Mandate to have
health insurance still exists
If you have been
without insurance this year because you heard Trump cancelled the mandate,
surprise—the mandate penalty is subtracted from your refund unless
you qualify for various exceptions. So if you are not owed a refund for 2018, there will never be any
consequences for not paying the penalty tax. Trump won’t collect it now. Trump
has dismissed comprehensive coverage in his special ‘short-term’ policies. He
has made buying coverage without protections easier so that he can claim his
plans are “cheaper
and better.” Trump does not understand—he
has always had it. It is not magic—his plans do NOT cover pre-existing
conditions and have payout limits. You may be denied or cancelled. You may have
premium increases. Most Americans like ACA now that they have it. If you are
lucky, you live in a state that maintains the guarantees of ACA. Before ACA you
could buy cheap policies—they were junk and didn’t cover you when you needed
it. You
can’t buy insurance after you get sick or have an accident. Like car and
home insurance, it is a way to share the risk of a huge loss. You pay premiums
all your life for a catastrophe you hope won’t happen. The alternative is
bankruptcy or destitution.
You need full coverage: Trump has it, why not
us?: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Consumer Reports: Most
reliable vehicles
Your vehicle
ratings by brand are not unusual but look closer at all brands for the type—SUVs
popular still (even Porsche has one??).
Some specific models
were dropped from the CR list altogether. Biggest ranking drop: Honda,
Chrysler, Volvo, and Tesla. Volvo is now Greely (Chinese), Chrysler is now
Fiat and Tesla is still working out the kinks. Vehicles are now mobile entertainment
units not transportation. If you need quality reliable transportation not TV
screen gadgets, go for a 3 year old thoroughbred like 2016 Lexus or Toyota from
$12,500
to $30,000.
Save with coverage
discounts too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
****************
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Trump
breaks 1987 Reagan arms treaty to spend more on weapons of mass
destruction.
GOP promises 2nd tax
break as teaser for midterm election of more spendthrift GOP.
TX GOP
closes voting sites-long lines and DEMs must take off work. Our voting rights?
SCAMS/SPINS:
Chris R. Kubiakk,
WI stole
$270,000 from clients’ accounts for personal use.
John G Schmidt OH caught
stealing $1.6 million retirement funds from boomers.
Cash Express caught threatening
loan collection it can’t make against consumers.
Christopher Faulkner,
Breitling, stole $23.8 million promising
oil/gas profits.
23andMe’s
health reports are dangerously incomplete, geneticist says.
Cancer
care marketing misleading—big biz budgets add spin for profits.
Why drug prices keep
going up—It
costs $200 million to stop Congress from acting.
Trump to close
all borders, ports, tourism, trade—any non-white immigrants.
Trump
teases his voters with another tax cut but GOP
says no way. Con man fake news.
Trump to pardon
Charlottesville Nazis?? Neo-Nazi
caught trying to flee from law
GA
to suppress votes of 1 million ‘non-matching’ voters: aims to erase
non-whites.
Saudis
kill 100s every day in Yemen—Khashoggi is just a ‘fist fight’—hospital
record?
----------------------------------
The Mob Boss can never go to jail: Trump
has Kava as Supreme so no indictment.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes
protect Don’s mob -- Ross’s legal deposition canceled.
----------------------------------
Jobs:
Economy is booming
but 60%
of us aren’t getting the benefits: Why
can’t I make it?
Income
inequality factor in communities with mass killings; gun laws reduce all
crime overall.
Who owns your account now?
Americans
seem to like ObamaCare—don’t use his name. GOP still
repealing 55 times.
Trump
defines gender from now on: you lose free choice—no 2nd Amendment
for that.
DIY repair outlawed
by GM, Deere, others: we buy it but they own circuits/algorithms.
You
can’t uninstall—they own algorithms: track you after ‘uninstall’ Can’t
cancel Uber.
Save $ HALF: Compare
drug prices in your area: https://www.goodrx.com
Miracle:
Do we really want to keep
immigrants out of US? We need new ‘blood’ to survive!
IAN
41 Watchung Plaza,
B242
973.746.2014
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