Is a low-cost stock index fund right for you?

 

Is a low-cost stock index fund right for you?

This chart shows why your investments in an S&P 500 index are solid. https://www.chartoftheday.com/total-return-by-stock-market-sector You could have picked one sector or company to thrive during the last 10 years, but you might have been wrong. If your long-term money goal was steady growth, you would have been rewarded by using a low-cost index that grew from every sector but one. Some did better than others during the period but together your portfolio increased by over 13% a year. And if you were investing for your retirement, you would be doubling your money in seven years. On the other hand if you had most of your money in fracking/oil/gas stocks, you would have been in negative territory by the end of the period. Your $10,000 in 2011 would be worth only $6,700 now. Things looked positive during the first 5 years but got worse. Unless you have insider information, you just don’t know what one company or sector will do. Bet on the whole stack, not the needle.

Take Warren Buffett’s advice: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

 

Is Flood Insurance right for you?

Changing climate patterns means you need to confirm you do or do not need flood insurance. Your homeowner’s policy does not cover floods.  Standard policies include some causes of loss (like fires, windstorms, and theft) but not others (earthquakes and flooding). Protect yourself from future rate hikes by NOT filing small claims. If you're not sure if your policy will cover you for some hazard like a sewer backup or rain flood, ask another insurer to provide you with an estimate on a new policy. This way your current insurer will NOT make a no-payment loss-claim note in your file. If your property is in a Flood Zone, your mortgage holder is going to want you to have this coverage. Don’t assume your inland property is safe. Check the MLS for the property you are considering before you buy. Texas has the greatest number of events so the insurance is expensive. Given the changes in climate, you may save thousands over time by choosing to buy in a higher elevation.

https://www.amazon.com/Customize-Your-Insurance-Save-every/dp/1490936440

 

 

Is a SPAC right for you?

Special purpose acquisition companies made up most of the growth in the U.S. initial public offering market last year. SPACs have also received a fair amount of bad press, with many pointing to subpar returns for investors. SPACs are an alternative to a traditional IPO. SPACs were created decades ago to be ‘blank-check’ companies. A sponsor group does an IPO to raise a pool of capital, then, tries to acquire a business. Originally, these entities were used to get rid of ‘dogs’—half of them would raise money and couldn't consummate a deal. Recently, SPAC became the preferred method of going public for high-growth, innovative industries. These companies don't have track records, and many don't have revenues or profits. They are very speculative but most investors are locked out of an IPO. On the other hand, you may not know what you are buying. Or rather you are gambling on a possible outcome.

Buyer Beware: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

 

 

 

Why does the IRS not audit more millionaires?

Short answer: they have the money to make it hard to audit. Like Trump, who boasted that he had paid little or no taxes for many years, the wealthy pay $ thousands to avoid paying $ millions in taxes. Since there is good money in tax avoidance, the smart folks work to confound—not to work for—the IRS. One Congress person, who doesn’t need donations, has proposed that the IRS be required to audit the wealthy and corporations. Since many do not pay their fair share, all of us are for this law and those who need election donations are against it. We are talking real money here: $1.2 Trillion. The IRS already knows it failed to collect about $381 billion in total—or about 14% of the amount due—over a three-year period through 2013. You can imagine what it doesn’t know.

 https://www.amazon.com/Most-U-S-Corporations-Pay-No-Taxes/dp/1514274116

 

Have tax forms; will file … for FREE

W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. If you have all your forms, file for FREE online. Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits. Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

Tax filing when a spouse passes away

If your spouse died in 2020, you should file as you normally would, noting the date of death on the top of the return. For the next 2 years, you file as widow(er) if you have a child. In the third year, you file as Head of Household with a child. This provides a higher deduction than Single. If not, you file as Single. There are other considerations for the survivor which you should discuss with a qualified preparer or executor of the will. Executors have certain duties including filing for the spouse’s estate. Your income may be reduced so you need a new financial plan.

https://www.amazon.com/Reset-Your-Retirement-Income-retirement/dp/1512304344

 

 

How to handle income taxes from unemployment insurance

If you were unemployed in 2020, you may have received the extra Fed help last spring. Congress provided $600 a week on top of state benefits. Now you may be faced with a tax bill for over a thousand dollars, according to a report released by The Century Foundation. The IRS considers unemployment compensation to be income because it comes from other sources like state funds. In some states, paying it was mandatory so you could deduct it from that year’s income. Since you deducted it then, you must pay tax on it now, like your 401k contributions. The stimulus money is not taxable but you may need the $1400 Congress is currently debating to pay for the taxes on your “income” unemployment even though you don’t have a job. Low income filers may qualify for EIC refund up to $3584. If you can’t pay your taxes, the IRS will let you pay on time: https://www.irs.gov/payments/online-payment-agreement-application.

Start a tax-FREE fund when you can: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

 

 

When you should NOT tell your insurance agent about a claim

There are many times when it does not pay to tell your insurer about a loss. For instance, when the electric power goes off and after a few days, your food is spoiled. Yes, you can call your agent and file a claim but don’t. Two things happen. Your deductible of $500 or $1,000 is invoked so you will receive nothing. Second, your claim file now has a no-payment “loss claim” note in it even if the insurer never pays a dime. In fact just asking an agent about filing a claim will be noted. In some states, filing just one homeowners insurance claim or no claim can hike your premiums by 20 percent for years to come. Obviously, it's not ideal to pay higher premiums over a $1,000 claim you could have paid for yourself. In some situations, keeping your record clear is actually more beneficial than filing for a payout. For example, you have a deductible of $1,000. Your toilet overflows and destroys your ceiling and walls below. The contractor says it will cost $2,500 to fix. If you submit a claim and it hikes your premiums $500 annually for three years, you're paying $1,500 to recover $1,000. Plus, your claim will register in the Comprehensive Loss Underwriting Exchange database, possibly complicating future claims and coverage. Insurers cover only catastrophic losses at a set premium.

Save on right policy: https://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

 

Plan for a full retirement fund

40% of Americans plan to work, at least part time, to gain security in retirement. 40% plan to save more. Either they cut spending or cut some expenses. I found most people could save $3,000 or more every year on financial products they don’t need. For instance, many of us are paying $ thousands extra for annual mutual fund fees in our 401k, pension and IRAs. In effect we are giving up 40-63% of our potential accumulation with no appreciable benefit. The value of securities rise over time you don’t have to pay the fees.  Our banking and insurance services have tons of hidden fees we don’t need. Investing the savings, say $100 a month for 10 years means an extra $20,000 in retirement. Some of us have delayed taking our SS benefits until age 70. This provides an extra 8% a year on your benefits in retirement for the rest of your life. That may mean $3,123 vs $1,602 per month before annual COLA increases as it did for one reader. Others have paid off their mortgage early so they could save mortgage interest. Of course, you could stay in your job longer but look at the fees first. You will be surprised how much you can save by looking at each expense.

Save $3,000 every year: https://www.amazon.com/10-Ways-Save-3000-years/dp/1515387070

 

 

**********ACCOUNTABILITY**************

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" 

 

 

Terrorists still called ‘militia’: naming cancer helps end it

 

Terrorists not ‘militia’ plan to “blow up the Capitol”

 

Trumpist feared “bad optics” Jan 6 if call in Guard

 

Our ‘Truth and Reconciliation Commission’? 

 

 

 

How Govt wastes our money:

GOP tax cuts cost $1.5 Trillion, helped rich; Dem $1.9 Trillion for us, GOP: “too much”

Vaccines for Black, Latin use stolen for White wealthy use in CA:

Which Trumpist slowed calling in the Guard on Jan 6? DC police stunned by PR ‘optics’

 

510,000 deaths; 3,000/day: vaccine appointments still hard to find for some.

 

SCAMS/SPINS:

GOP state lawgivers set up barriers to Dem voters: 1 step forward; 2 steps back

GOP makes it legal to run over demonstrators with car if get on road: legalize killing?

McConnell will back Dictator who provoked terrorist attack on gov and kill his own VP

 

One GOP claims “we aren't the party of white supremacy" Jan 6 coup by Whites not BLM

GOP adopts Trumpism: ‘no election fair unless GOP wins’: Pence was terrorists’ target

GOP claims terrorists were Dems giving Trumpists bad rap: not coup; just a “show”

 

Fake news created easily: need multiple sources to verify truth: Twitter easily fooled

 

Private TX utility fails but still raises prices: $600/day so ERCOT execs can retire

TX utility board can and did RETIRE outside TX with ERCOT electric bills of $7000

VW slows Jetta production in Mexico: ongoing shortage of natural gas.

Hyundai recalls 82,000 electric cars: battery makes fire: replace whole thing

 

Fake product reviews for sale: read carefully: fake masks popular; get rich plan

Recalled used cars for sale without the fix: dangerously cheap

IRS threatens to seize bank account: IRS got tax payment but starts collection anyway

BEWARE: thousands get letter due to computer error: IRS knows but can’t stop letters

Business making refund claims from pre-2017 US production activity

 

Libre by Nexus caught overcharging for immigrant-services: traps victims into many fees

 

Scott Wayne Reed caught selling security not approved; conflict of interest; defrocked

James Booth CT caught stealing $5 million Ponzi-like scheme: 42 mos prison

Jose Anibal Linares TX defrauded investors out of about $2 million: 5 yrs prison

James Velissaris Infinity Q Capital under review; fund closed; mis-valued derivatives?

Steven Pagartanis NY caught stealing $13 million Ponzi-like scheme: 14 yrs prison

AwesomeCalls CA caught selling stock advice w/o license: trading timing tips

 

6 police bag Black man, knee his back till stops breathing: no charges; sounds like 1800s

Southern Baptists expel Christians who welcome all Christians: What would Jesus say?

Trumpist who delayed mail-in ballots still slows post office delivery

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

 

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Disaster victims have more time to file taxes: TX, LA, MS

There are no jobs on Mars: we spend $ billions to listen and look: sound of money burnt

Degree free: NJ community college grants for low-income families give all a chance

 

Who owns your account now?

Free PDF Editor: tools to fix your work

Car dependability study: Lexus, Kia, Toyota, Buick, Cadillac: not Rover, Jag, Chrysler, VW.

Wells Fargo money management unit to GTCR and Reverence Capital Partners

 

Miracles:

Virus cases and deaths going down: more vaccine; more masks; more bad weather?

Most GOP voters have already crossed to the new Trumpist party/cult: Donate PAC

CA giving $600 stimulus when taxes filed: GOP blocks national help for poor

 

Biden to extend mortgage forbearance and foreclosure relief programs.

Seniors can defer or freeze property taxes in some states: states have various rules

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

 

Double the value of your investment dollars

 

How can you double the value of your investment dollars?

How do working people earning average salaries prepare for retirement by building a $1 million fund? For most of us, there are three simple steps: tax-deductible paycheck automatic savings, employer matching funds, and compounding interest. Compounding happens when you leave your money alone in a low-cost S&P 500 stock fund to make money on itself. You can earn 11% a year. Many employers offer to match your retirement fund contributions. It is free money so take it. Using a 401k, 403b or other tax-deferred plan including an IRA allows your money to grow without current taxation. Thus contributing $250 a month—$125 per pay period—can easily grow your fund to over a million dollars by the time you retire.

Never too late to start: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

 

Only self-employed can deduct expenses of a home office

That is the federal rule but 7 states allow some deductions for work from home. You may deduct some expenses from a home office if you are a rideshare driver or an online retailer. If this is a new category of work for you—Uber, Lyft, delivery driver—you should rely on an experienced tax preparer for your return this year. If you started any type of non-paycheck job this year after being laid off, you may be able to claim many expenses in pursuit of income. Likewise your online retail store expenses including the space you use to manage your store may be deducted. You may not make a profit this year. Your business loss may offset some of your other income like unemployment compensation and Covid related sick time pay. Many businesses received loans that may not have to be paid back. However, the paperwork is complicated. Unfortunately, you can’t avoid all income taxes like our former president.

https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Is a credit monitoring service right for you?

Most of us are not victims of ID theft because we know not to give out info to thieves who send us fake emails, calls, and texts tricking us to give them our personal data. The most popular currently is the fake IRS message asking to confirm our information. It takes months to clear up the results of a stolen ID: fake purchases, fake bank debits, etc. So a profitable industry has worked on our fears to take our money in the form of promises of protection. Some even claim they provide a $1 million in protection—for a price. However no paid service can stop an ID theft—we only know AFTER the event. There are free monitoring services: CNBC Select ranked the top credit monitoring services and top identity theft protection services. CreditWise® from Capital One ranked as the best overall free service for credit monitoring because it offers dark web scanning and social security number tracking, plus a credit score simulator tool. Identityforce.com ranked as the best overall identity theft services for offering the most extensive security features that monitor your information on the dark web, court records and social media. While freezing your credit can protect you, the simplest way to learn about fraudulent activity in your name is to sign up for a credit monitoring service. It immediately alerts you of any potential danger. Then you can take action before the ID thieves can hurt you. You can get help at https://identitytheft.gov/. 

 

Have tax forms; will file … for FREE

W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. If you have all your forms, file for FREE online. Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits. Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

Where are the great financial advisors?

No where and every where. It depends on what we expect from them. Some of us pay a lot of money for advice—over 63% our potential lifetime earnings in costs, according to John Bogle, founder of Vanguard. Others feel that they would have lost all their savings if it were not for their advisor. Others went to a financial planner and paid a one time fee (like buying a will). They have a complete plan for their future financial needs. Most advisors are not brilliant product analysts so they rely on their firms’ ‘select securities and products.’ That is what marketing is for—products are “sold not bought.” Most advisors are sales people by necessity. Firms need profits and advisors DRIVE our money into their firms. If advisors bring in a lot of money, they stay. Maybe you don’t need an advisor who takes your earnings every quarter. You may need an unbiased advisor that works for a fee, not commission. Like a good car mechanic, they don’t try to sell you on a transmission flush when all you need is an oil change. Car makers don’t recommend flushes. As a former sales manager, I paid a financial planner for a check up for a single fee. I have a plan for the next 50 years with all the contingencies. All advisors rely on standard software so your portfolio and plan follow universal guidelines. There is no need to give up over HALF your money anymore. The best advisors don’t need clients.

Get value for your money: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Know the SS benefit rules for the greatest benefits

Before you sign up for Social Security benefits either online or at a local office, know the ABCs of your account. Set up an account so you can make sure SS has the correct information about your work history. Your benefit is based on your 35 highest-earning years. Your benefits may be taxed up to 85%. You can start benefits at age 62. However, if you do start early, that reduces your amount by about 25% for the rest of your life. Your full benefits are paid by age 67. Every year you wait—till age 70—increases your benefits by 8% a year for the rest of your life. If your spouse or ‘ex’ earned more than you did in SS records, it may be better to claim spousal benefits. Spouses without their own long work history can claim benefits in this way. Survivor’s benefits let a widow or widower collect up to 100% of the late spouse’s Social Security benefit amount.

https://www.amazon.com/Your-Retirement-Income-Checklist/dp/1544703260

 

What can we do with a big auto loan and no job?

According to Edmunds.com nearly 70% of new car loans in the first quarter of 2020 were longer than 60 months with many either 72 or 84 months. The trend over the last decade is longer and longer loans. We all know someone with this problem: Bob bought a big luxury car used but he still owes over $25,000—payments at $840 a month. Bob lost his job. Bob has no 2^nd car and is single. The car is worth less than $15,000 now. Bob could try to trade down but there would still be a large balance. Bob can’t roll the balance into a new loan since he has no job. Bob can try selling this car and paying off part of a loan with smaller monthly payments. If Bob can get a ride to shopping or work if he finds a new one, this would be best. Bob does not like that alternative so he begins to work as an Uber driver. There are expenses that are deductible including use of his car. Bob decides this is his best option for now. He decides he will never buy another used luxury car with a loan. Bob has to buy new coverage so he shops around to save.

Shop and save on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

How do you know when to get out?

Gamestop stock went up and then went back down to $40 where it was January 19. At 347 per share, did you sell on time? How did you know when to sell? Did your broker or advisor tell you so? If you bought at 200 expecting it to rise further, did you get caught in the fall on February 2? I hope you did not see your account show a negative balance of $730,000 like the young man who couldn’t get through on the phone to verify. Playing stocks can kill your savings or worse. Yes, direct online trading is possible but is it worth it? Like playing lottery someone could win but the chances are sometime 300 million to one. Don’t we have an obligation to show our young how to invest like Warren Buffett, a real wise investor?

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

 

 

**********ACCOUNTABILITY**************

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" 

 

 

Trump cult members beware:

Trump didn’t stop cult who wanted to “hang Pence” for disloyalty

 

Dictator can incite overthrow of our government again

 

Most GOP want Dictator back: “Trump party” in all but name

 

What if it had been Obama and BLM Jan 6?

 

So much for justice in America!

 

Our ‘Truth and Reconciliation Commission’? 

 

 

 

How Govt wastes our money:

Opioid pushers get tax refunds for settling claims for 450,000 deaths: profit from killing!

Stockpile masks while nurses receive only 1:  Biden’s people waiting Senate GOP OK

Wasted on 57 Trump fake vote-count lawsuits in each state: we pay for state courts!

 

US making $100 billion missile 20 times Hiroshima: not just kill, annihilate whole cities!

Taxes to make robots that kill automatically: hackers will love our cyborgs: kill us?

 

IRS fails to update: you pay tax yet collection letters on auto: Seize your account HELP!

IRS still hadn’t processed 6.7 million returns for the 2019 tax year: Amended takes years!

$ Billions to send rover to Mars: we did this already in 1997: internet for rural US yet?

 

SCAMS/SPINS:

Republicans "worried that if they vote to convict … people would come after them."

Trumpists have defeated the GOP: Most Americans know GOP is not viable anymore.

Dictator did nothing even after hearing followers vow to HANG his VP Pence.

McConnell avoids responsibility: up to prosecutors to charge Dictator with crimes.

 

House sues Trump/Giuliani/terrorists using 1871 law for Capitol attack: Mitch testify?

 

When a coup fails, media calls it a ‘riot’: winners always re-write the history we read.

FBI recognized many Capitol terrorists from their Terrorist Watch List on videos.

Ivanka not going for Rubio Senate seat: only interested in top job: another Trump WH?

 

Child abusers in Boy Scouts go free $ billions insurance money to lawyers, mostly

the-most-common-lies-people-tell-about-money-60324.html

Global warming means more ‘too hot and too cold’ on new climate maps: FL floods.

 

Mercedes recalls 1.29 million 2016-2021: software may fail correct crash location.

Texas tells residents to fend for themselves: car in garage kills family

Fake tax preparers: Check: they must have a valid Preparer Tax Identification Number. 

Stefan Qin caught stealing $90 million Ponzi using fake algorithm for cryptocurrency

 

Virus spreaders: No-Maskers fake US marshal pass: 1/3 military decline vaccine

No-Maskers push death toll past 500,000: 

 

ExGov Perry: OK to freeze in TX cold so that oil/gas firms receive socialist tax subsidies

The Texas way is like living on Mars: Every person is a lone star to themselves.

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Another job search tool: https://www.glassdoor.com/blog/guide/how-to-use-glassdoor/

Visa Ban lifted?: Unemployed workers weren’t interested in jobs held by foreign hires

Another Trump tower falls: thousands laid off in 6 bankrupt biz

 

Who owns your account now?

Verizon’s proposed acquisition of Tracfone: no more ‘pay as you go’?

Looking for service: $15 mo keep own number and phone https://www.mintmobile.com/

 

 

 

Miracles:

A nursing home that tried to protect its own: after a year of lockdown, vaccines

HealthCare.gov reopens to provide much needed coverage for laid off workers.

Hundreds volunteering to escort elderly Asian Americans to stop beatings by terrorists

 

Holy War: cast GUILTY vote: now can’t go home: Family turns: “disappointment to God”

CA gives extra $600 for virus relief: waiting for Congress means hunger or eviction

Flooded giraffe habitat takes special rescue: soon Miami will need a rescue from floods

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

 

What is your portfolio's Total Return?

 

Is it possible to save $3,000 a year?

You can save $250 a month by spending a few minutes reviewing the financial products and services you currently own. The top money waster is broker-sold securities  & funds. Your advisor may be charging 1-2% for fees, loads, 12b-1, transactions, custody, etc. Total costs are never shown so you must inquire and add them up. Over time, you could be paying HALF your possible accumulations to the middle persons. Other ongoing accounts try to bundle non-essential charges so you don’t notice. When you discover you are paying for life and disability insurance as part of your auto policy you can see how the savings can mount up. You have been paying for this duplicate coverage for 10, 20 maybe 30 years. Consider that in 30 years, you have paid out $99,000 for services and products you did not even know about, you may be shocked. Turn that $3,000 a year into extra retirement income for later by using a tax-FREE account from the IRS.

Avoid future taxes: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X

 

 

Drivers rate car satisfaction/reliability

Many factors go into the choice of our vehicles. Car selection depends on what you are looking for and how much you can spend. Most of us purchase another of the same brand but when things change, we can get more of what we want by comparison shopping. Thus Tesla heads the list of high satisfaction. Some brands have fallen from higher ratings: a few brands—such as Cadillac and Mercedes-Benz—are toward the bottom for both. Drivers have different expectations now: Ram trucks have scored high in comfort and electronics. The most expensive brands have less appeal: Volvo, Jaguar, Land Rover.

Make sure coverage is reliable too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

 

What is your portfolio’s Total Return?

For long-term investors, the important number is the Total Return. For equities, this number includes interest, gains and dividends which you do not need now and can reinvest. This is the number that creates the Miracle of Compounding cited by famous investors like Warren Buffett. Compounding is just your money making money on itself because you let it alone. Consider this chart of Total Return during the past 10 years: https://www.chartoftheday.com/total-return-by-asset-class. Over the past 30 years, DALBAR’s Quantitative Analysis of Investor Behavior (QAIB) shows 11% return for the S&P 500. If your advisor is managing your portfolio, the news is not great: 3.79% for the average managed equity funds. You would do better in a low-cost bond index fund with 7.36% returns. Again you need to think long-term for the money you will need in 15 or more years. For other periods of time, a low-cost 500 index fund may still put you way ahead. However, a stock index fund can go down temporarily. The smart investor uses asset matching to avoid quick decisions about what their money can do for them. A balanced fund can provide steady 7-9% total return for shorter-term needs. You avoid buying high; selling low—loses from guessing the market and excessive fees.

Take 11% not 3.79%: https://www.amazon.com/Win-Investment-War-Earn-11/dp/1522916369

 

Is refinancing your student loans right for you?
Rates for personal loans are low right now so you might consider this alternative a smart move. However, the Biden proposals to change the terms of student loans may make that a bad decision. With the job market a challenge for any graduate and the pandemic lay offs continuing, it may be wise to ask for a forbearance until the decisions are made. One of the proposals would allow some students to file bankruptcy to eliminate their student loans. Currently, this is not allowed for most petitioners. Credit cards and other non-secured debt can be discharged by court order depending on your ability to pay. Student loans were more difficult to eliminate. Most are backed by a federal guarantee and Congress did not want to encourage fraud. Some loans have already been sold to collectors so new legislation may not solve these problem loans.

Find out where your loan stands: https://studentaid.gov/

 

 

Is a real estate index fund right for you?

This market has been depressed recently due to the pandemic. Businesses and renters have had a hard time paying the rent. The current investment returns are negative. However, with time, this situation will change and returns may revive to previous levels. Real estate offers portfolio diversification. REITs have often performed differently than stocks and bonds, so this fund may offer some diversification to a portfolio already made up of stocks and bonds. Buy this fund in a tax-deferred account. The fund may distribute dividend income higher than other funds, but it is not without risk. One of the fund’s primary risks is its narrow scope, since it invests solely within the real estate industry and may be more volatile than more broadly diversified stock funds. On the other hand, an index with low annual expense ratio could provide long term growth when stocks are depressed. A REIT strategy can help you win as a counter balance to a flat market.

Win in unfair markets: https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

 

Two big tax breaks that may be right for you

The CARES Act allowed people affected by the pandemic to withdraw up to $100,000 from their retirement accounts, including IRAs, 401(k)s, 403(b)s and others, in 2020. It also suspended the normal 10% penalty for early distributions. You pay tax on distributions as earnings over 3 years, starting this year. See rules: https://www.irs.gov/. 

If you put the money back within three years of taking it, you will not owe tax on this distribution. Second: for retirees, the CARES Act also suspended required minimum distributions RMDs for 2020. You may have a larger refund since your income is reduced. And don’t forget to report your virtual currency transactions. Stimulus money is tax free and you can claim it as a refund if you didn’t get all you were owed.

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

 

Prepare to live to age 100

More and more folks are living longer. Health and family genes seem to determine your best guess. It is overwhelmingly women who live to age 100. 82.5% of centenarians were white, versus 72.4% of the total population. The majority of the oldest citizens live with others. "As age increases, the percentage living in urban areas also increases." "There are more resources, and there is better transportation." The Northeast and Midwest have proportions of centenarians that are higher than the national average. North Dakota is the only state with more than 3 centenarians for every 10,000 people in the state. The proportion of centenarians in the United States is smaller than that of many other developed countries. Japan has 3.43 centenarians per 10,000 people. If you have the genes and family history, you may need to work a little longer.

Make a plan: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

 

 

Have tax forms; will file … for FREE

W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. If you have all your forms, file for FREE online. Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits. Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

Which filing mistakes have you made?

Check your work before filing on the 12^th, IRS first day for tax refunds. Names and SS numbers must match cards. Pick the best filing status for greatest refund. Complex math calculations can’t be done by hand since many items are interconnected. Tax credits like missed stimulus checks are paid in your refund. Your refund comes faster with direct deposit but only if you use correct routing/account numbers: First 9-digits/next group. Omit the check number. Married filers must both sign unless one spouse has a power of attorney form. ITIN must be renewed to claim credits. If your SS number has been hacked, use the IP PIN that the IRS sends you to confirm you are who you are. Your refund will be delayed if you don’t use that PIN on your return. Watch your refund credit process: https://www.irs.gov/refunds

Beware: scammers imitate IRS site to steal your data. Go through https://www.irs.gov/.

 

 

 

**********ACCOUNTABILITY**************

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" 

 

 

Our ‘Truth and Reconciliation Commission’? 

 

Most Americans know dictator is responsible for insurrection

 

Dictator can incite overthrow of government

 

What if it had been Obama and BLM Jan 6?

 

So much for justice in America!

 

How Govt wastes our money:

Many profitable corporations pay little tax: GOP tax breaks have sent our taxes overseas

We pay $519 million to restore order after dictator’s failed attempted coup: perps not pay

$1,339,079 for hospital covid treatment. How long can private health care last?

 

SCAMS/SPINS:

Domestic terrorist buys Mexico vacation instead of paying for Capitol damage she caused

Why the excuse “I answered the call of my president." does not work: Nuremberg Trials

Brainwashing: I ONLY BELIEVE SOME OF QANON: DEMS BEING SATANIC PEDOPHILE CANNIBALS

 

Video of insurrection in case QAnon starts claiming deep state Dems made up the violence later

Trumpist party does not accept 50 valid state elections: Trump ‘re-elected’ on twitter count?

 

Brainwashing still goes on: misleading tricks on social media, lies, false quotes, all here

Southern Baptists fear women with power: “Jezebel: amoral, wantonly sexual woman”

Do domestic terrorists ever change their ideology? Most think a god is on their side.

Christian nationalist share beliefs with white nationalists: racist, bigots, misogynists

 

Does Trump acquittal mean the end of GOP or just a martyr to the sedition cult?

Trump bro Graham: 'a place in history' “incitement of insurrection” Pre-trial brief: 5 died

What ‘high crimes and misdemeanors’ needed for GOP to convict a GOP president?

 

Our domestic terrorists called ‘militia’ but militia is “supplement to regular army” 

Our domestic terrorists wanted to stop Biden vote and shoot Pelosi and hang Pence.

Our terrorists wanted to overthrow government at the prompting of a dictator: a coup

 

GOP exclude Dem voters with 160 state laws to restrict voting: plan rigged 2022 vote

 

Palm Beach not want Trump living there: hotel OK; home No: ‘gives beach bad name’

Rudy Giuliani friends defrauding $2 million; fake product never sold; money laundering

 

 

Bruce Cameron caught putting seniors at risk $30 million in energy; no RBC guidance

Robert Stewart stole $34.5 million our money promising masks: super confidence man

Stephen Moleski David Michael stole $ from clients promised investment never made

Isaiah Goodman MN caught stealing $2.25 million in Ponzi-like fraud: fake screenshots

 

Scam: Googling brand-name site that is fake link eg: fake homedepot is malware link,

Scam: internet sale of goods, romance, fake checks top list; increased 2020

Hackers can make water supply poisonous at keystroke: nobody watching computer

 

BEWARE: Trading stocks can be dangerous: low cost means no human help

 

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Employer’s tax credit for self-employed Covid sick and family leave: file Form 7202

2 police cracked skull pushing 75 y o protestor to ground; left bleeding and jury said OK

 

Who owns your account now?

If you missed a commercial during the SuperBowl, watch here www.ispot.tv/events/

Voya Financial Advisors to Cetera Financial

 

Miracles:

Your pharmacy may have vaccine for you: cdc.gov/vaccines/covid-19/retail-pharmacy-

You can do your taxes yourself with new software: answer questions, copy numbers

Watching creation of a new political party to replace old GOP

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/