Why starting investing early earns 10 times contributions
$250 a month, $3,000 a year, gives you $995,000 in 33 years,
IF you invest in a low-cost stock index fund in your 401k or Tax-FREE account. $3,000
for 33 years is $99,000. If you keep adding your stock dividends
automatically and don’t stop compounding in the same fund, even when it goes
down on paper, you end up with about
$1,000,000. You don’t do anything else with your money. If you start
late, add more each month. This investment strategy is recommended
by Warren Buffett, one of the greatest
unbiased non-commission advisors in history. You don’t manage it or let
anyone else touch it. They will take your earnings and you are left with 3.79%
not 11%. A fee and commissions can take
up to 63% of your accumulation over time. You alone earn about 11%
over time—not every year. Some years you earn 30% and some
you lose 30%.
However if you invest like Buffett—no selling or trading—you average 11%. This
is not
a buy and sell, ‘sector rotation’, or ‘buy on dips’ strategy. It is the “snoring”
strategy. Let compounding work.
Use the snoring strategy: https://www.amazon.com/Warren-Buffett-Millionaire-money-snoring/dp/1508887381
Tax return due July 15: Extension automatic with form
If you could not meet with your preparer and can’t complete
the online tax return using one of the FREE software programs, you can
obtain an extension to October 15 just by filing a form with an estimate of
what you owe. IRS wants the money—the return can wait—since they have 3 years
to find any errors. Fill and print and pay form: https://www.irs.gov/pub/irs-pdf/f4868.pdf
If you cannot pay now, sign a payment plan so you pay over
time. Since millions are out of work, this is expected to be big solution. It
is unclear
what your interest rate will be.
Pay no taxes in retirement: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
401k company match suspended?
If you are one of 12
million workers who have had your future retirement fund reduced because
your firm has cut their 401k company match, you can still reach your goal. Your
tax-advantaged plan must be modified, at least temporarily. If your current
income allows it, you can continue to grow your retirement fund by starting a
tax-deductible or tax-FREE IRA account. With a regular IRA, you do not pay
income tax on your contributions now. With a Roth IRA, you pay income tax at
today’s lower rates so you receive tax-FREE income in retirement. Most advisors
think tax rates will be higher in the future so you will be able to pay less
tax on your IRA distributions. Depending on how much your Roth IRA fund grows,
you may be able to reduce your taxable income significantly so that your Social
Security benefits are less or not taxable also.
Deducting your work-at-home expenses is difficult
Trump eliminated the deduction for unreimbursed business
expenses and home office in 2017. The previous tax law allowed the federal
write-offs for unreimbursed business expenses and home offices, along with most
other miscellaneous itemized deductions. So if you had to upgrade your laptops,
ergonomic chairs and high-speed internet, you might want to check with your
employer. The federal tax code lets employers reimburse employees for costs
that are reasonable and necessary for them to do their jobs amid a disaster,
and the Internal
Revenue Service has said the pandemic qualifies. Self-employed folks take
these and other expenses as a reduction in revenue before income is taxed. That
is how our President
gets to boast that he pays NO income taxes.
In March 2020, our Federal Reserve, the US America America
Avoid taxes to float bad business: https://www.amazon.com/Americas-Socialism-for-Rich-little-people-pay/dp/1535218584
**********ACCOUNTABILITY**************
Like 1776, this period
is a test
of democracy—do we really want ‘low-IQ’
Mobster?
Mobster PR firm: “the coolest president ever.”
How Govt wastes our money: Congress
gives 3.7 Trillion to the wealthy!
Without taking action, Congress
takes 2 week vacation from US: Prez
happy talk
Congress
people take virus federal aid meant for small biz too: double dipping
Wealthy
investment firms took virus federal aid meant for small biz too
GPB
Capital alleged
Ponzi firm took $million in virus fed aid after poor management losses
Trump
press secretary parents took $1 million virus federal aid meant for small
biz
Trump
Friends and Family Cleared Millions in Small Business Bailout
Wealthy entertainers
took virus federal aid meant for small biz
Catholic church took
$1.4 BILLIONS virus federal aid meant for biz: church not biz taxfree
Follow virus aid guidance from the Small Business Administration and the Treasury.
SCAMS/SPINS:
"National Garden of American
Heroes," "statues of greatest Americans to ever live."
“opponents
of national socialism or international socialism”? Trump inducts self as
hero
Gun
Sales are Off the Chart: racist GOP raising fear levels; virus chaos;
racial protests
My
Loan Doctor caught
deceptive acts or practices: took $15 million from 400 CD buyers falsely
Timemark
solutions charged
illegal advance fees: loan terms change in federal student-loan debt
Quest
Diagnostics 401k caught
excessive fees on Fidelity actively managed target-date funds.
Law
firms for the wealthy take $13 billions of virus money meant for small biz.
nine
brands sanitizer to avoid because they
contain methanol: FDA says dangerous.
All
Clean sanitizer recalled: methanol is dangerous
Android
apps that steal your personal data: Google can’t keep up with bad actors
Trump niece stunning
book sales: he
had a hard life growing up and that
is all he knows
Eviction
threat rises as virus threatens reopening jobs: Check your rights; note intimidation.
Our
credit history ruined by mortgage servicers: gave fake virus payment
extensions April May
Jobs
at-home
coronavirus testing kit approved Ohio Kroger workers are first to get
it.
Employers
can discriminate on women all they want: Supremes: no birth control
equality.
Money
managers losing the rich: outsized fees--1% assets no matter how manager
does
Who owns your account now?
Appliance
Brand Reliability Rankings: Miele, LG leaders in most models
State Farm cuts
auto insurance rate in LA by 10%: starts August
Mortgage
pre-approval required by some home sellers: saves virus exposures
Miracle:
"Walk
With Shawn" 300
neighbors show up so Black man can walk without being shot by whites
Artic
meltdown: no one “expected the changes
to happen as fast as we are seeing them happen.”
Supremes
invalidate electoral college: electors can NOT pick Trump over real voters
as in 2016.
Supremes
give HALF
of OK back to the original owners: Muscogee Nation gets back rent?
IAN
41 Watchung Plaza,
B242
973.746.2014
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