American ‘socialism’
for the rich runs up our debt
Since Trump’s
tax benefits went to the top 10% and Trump’s
tariffs are taking $1,000 per family, you have to consider each taxpayer will
pay $17,000 for his national debt
increase. And the tax
benefits were NOT paid for by increased business. Usually when the economy
is booming and unemployment is low, government pays down the debt. Not this
time. We
are still paying corporations $100 billion in subsidies every year even
though Trump just cut their taxes from 35% to 21%. Many
pay NOTHING due to the loopholes our
representatives gave them. There are tax credits we can use.
Put your money to
work so you don’t have to.
Accumulate $250,000,
$500,000 even $1,000,000.
Compounding is what
Warren Buffett counts on for success.
“My wealth has come
from a combination of living in America
compound interest.”
How much can your
money earn for you? $1 million
from your $99,000 investment.
Your $250 a month
investment may grow to $1,000,000 or more and it can be tax FREE. That $3,000 a
year for 33 years ($99,000) compounds to $1 million if you put it to work:
Low-cost stock index fund earns 11% per year after fees over time.
Advisor-managed funds earn 3.79%
over time. Compounding does not work as well if your advisor is trading,
market-timing, rebalancing or rotating sectors.
Claiming 150% of SS
benefits even if one spouse did not work
Even if one spouse
has no Social Security benefit of their own, together
a couple would get 150% of the worker's monthly benefit for life. This rule
comes from the time when only one bread winner ‘worked.’ (SS does not count
taking care of 2 kids.) See Mr.
Blandings Builds His Dream House.
The worker has to file for benefits first but then spousal benefits can be
taken too. The worker who claimed
before age 66 would lose some benefits if they continued to work. Since the
rules are complicated, you should visit your local SS office as soon as one of
you reaches age 62. Find out the best plan for the both of you since you may
receive more as a couple than separately. The future of SS and Medicare is
uncertain so don’t rely on these alone. The GOP got their tax bonanza and now
wants to cut our ‘entitlements’ even though we already paid for them. Remember,
GOP
pays no FICA tax on income over $132,900 and no FICA or Medicare tax on
their capital gains and interest incomes. For instance, Warren Buffett pays a
lower tax rate than any of his employees: 17.7% vs 32.9%. youtube.com/watch?v=Cu5B-2LoC4s
Only 17 states require your child to learn how to determine which investment pays the highest return on their money. Most think it is a savings account. This could be one reason most of us are going to be broke in retirement and the amount of credit card debt has doubled to over $8,000 per household. Children are moving back home after racking up huge student loan debts. Most parents have no clue about the fundamentals of personal finance—investing, interest rates, compound interest, why the rich get richer, and avoiding debt by creating your own ‘bank’ of tax-FREE accounts. Unbiased advice is easily available. For instance, if I loaned $250 a month to big companies we use every day, over time, with interest on my money left with them, would grow to be $63,000 in 10 years, $245,000 in 20 years, and $790,000 in 30 years. The Miracle of Compounding: I loaned them $90,000 ($3,000 X 30 yrs) and now I have $790,000. If I use a tax-FREE account, the amount is not taxed—now or later. I learned from John Bogle that you give up 63% of your total potential nest egg if you pay someone 2% a year to handle your money. Warren Buffett’s advice is so simple, anyone can follow it.
Explain the ‘facts of life’: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355/’
Why do we try?
It’s the active-passive paradox – almost every investor agrees that
it’s nigh
impossible to beat the market, and almost every investor tries to beat it
anyway. Vanguard funds—those with stock-picking managers—repeat the same
outcome. Only two of the 57 funds consistently outperformed their
benchmarks. This study of managed funds concluded that all of Vanguard’s active
strategies could be replicated “more cost effectively through the use of index
funds.” Even with lower costs, Vanguard’s managed funds could not beat its own index funds.
Costs turn out to be important—even for low-cost Vanguard funds.
Buffett advises index too: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
When to file taxes separately
Generally it is advantageous for a married couple to file jointly. Filing
a joint return comes with many well-known benefits, including a lower tax
bracket at both the federal and state level, a larger standard deduction and
the opportunity to qualify for multiple tax credits. However, there are
particular instances when a couple should
file separately. Married taxpayers may be aware of certain “red
flag” situations, for example when one spouse has significant debt, past
unpaid tax liabilities, ‘shady’ tax history, or income-based student loans.
Healthcare may be a lesser-known reason to lead a married couple to file
separately. Ask your tax pro about situations when filing your tax returns as ‘married
filing separately’ is best. Verify your tax-FREE retirement account.
When is the best
time to buy stocks?
Warren Buffett has
followed his mentor Benjamin
Graham’s advice: “buy stocks as they bought their groceries, not as they
bought their perfume.” If your supermarket has a sale on your favorite
food, do you buy more? When chicken breasts are on sale for $1.99 a pound, I
buy two family packs. I freeze one—regular price $5.89/lb. Buffett recently won
his bet with a hedge fund guru who used 5 different investment strategies to beat
Buffett’s choice. Buffett bet $1 million that the Vanguard
500 Index would outpace the manager’s picks. Buffett won: 7% a year versus
2.2%. He did not trade or time the markets. When we buy on sale, we get 10 fund
shares instead of just 8. When the price goes up each year, our account value increases
exponentially.
**********
How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!
Trump’s Justice
Dept sends scary white nationalist emails to court workers.
What would you do if
your vehicle worked only HALF the time? Send it back?
Trump lets truckers drive longer hours: 4,657
trucks involved in fatal crashes More?
Another national
monument gone to oil and gas industry: Trump destroys our heritage.
ICE
would not need raids if employers only hired citizens who wanted $15 an hour work.
Trump breaks law: refuses to hear asylum seekers: US
indicted for sending them to death
Trump
the ‘environmentalist: Alaska
forest to be destroyed by loggers/miners. Congress?
Trump
to pass more gas to make climate hotter: drillers can let it rip! CO2
released too.
Trump: Our
kids born overseas are no longer citizens anywhere: non-citizens must apply
Denver
lets mom give birth alone in her cell: Don’t even call the ambulance!
Trump
to pardon law breakers who claim they helped build his WALL: Dictators do
this.
Trump aide admits he
faked the calls to China to silence Street’s trade concerns: Creds?
SCAMS/SPINS:
Trump: claims King
of the Jews https://twitter.com/hashtag/KingofTheJews?src=hash
‘Absolute’ dictator:
I
have the ‘absolute right’ to order US firms leave China if I want.
UK
has given up traditional democracy to right-wing authoritarianism. Even
Queen
Digital
assistant can get you scammed: It is not smart about crime.
Is
your advisor really a real person or just a fake with fake creds fake bio
fake clippings?
Maxitransfers caught
violating customer disclosure on sending money to countries.
WellsFargo caught
with its brokers/agents not registered in MA: client sales fraud
Larry Carr Cita FL caught
selling fake loan notes to widows in Ponzi: 4 years jail
Jesse Gil Allstate caught
taking money from widow for his trip to Spain
Adam Vinoskey Sentry
Equip caught
overcharging employees for Vinoskey’s stock
Marcus Boggs IL caught
fleeing with stolen $2 mil from clients: ‘very charming’ works.
Brenda Smith PA caught
$63 million hedge fund fraud promised 30% from slick trades.
Cambridge Capital caught
defrauded 20 investors with ‘advance loans’ and high fees
Michael Hild Live
Well caught
inflating bond value to defraud lenders: $24 mill comp.
YouTube Netflix viewing
slowed down even when networks aren't crowded. 5G scam?
80
scammers caught: $ billions email, romance, elder fraud by Nigerian “money
mules”
Johnson & Johnson
caught
fueling opioid epidemic: deceptive marketing of painkillers.
Fake discounts: marketing
is word game that catch attention: ‘sale’ ‘50% off’ ‘closing’
Asset Recovery
Associates caught
misleading debtors with fake legal threats: fine, no jail
BEWARE: Annuity
sellers claim insurance firm bonds ‘safe’ as CD protections
Ford
recalls 550,000 trucks and SUVs: seats not hold you in crash.
Jobs
Follow the
money: we still need engineers.
Teachers
spend $459 on supplies for the kids: we overpay their bosses: $242,000 in 2014
Who owns your account now?
Long-term
care accounts need help: watch change of ownership
Gun
liability insurance: cover damage/expenses
to clean up the mess guns leave.
Long-term care premiums
rising faster than incomes.
Miracle:
Miracle: No
opioid exec goes to jail: their company pays fine; they got bonuses. We
died.
IAN
41 Watchung Plaza,
B242
973.746.2014
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