Our
retirement system is broken: fix yours now
Your
employer has stopped helping you reach your retirement goals. Your alternatives
are limited by your employer’s choice of investment options. Many have stopped
matching your contributions to their 401k or 403b. Many use very expensive
mutual fund plans. Paying 2% in investment, plan and services fees “will
erode 63 percent of what you would have had.” Even worse, if you are using
a variable annuity, you
may be charged 7%. Small employers often use variable annuities from an
insurance agent since this costs your boss nothing: very costly. ALTERNATIVE: use
the new retirement plan that offers a complete set of mutual funds and stocks
at low cost. The new plan allows you to accumulate more at almost no cost. And
when you retire you will pay no state and federal income taxes on the full
amount. For instance, if you invest $250 a month you could have $1 million to
spend as you wish with no taxes. You can also take a loan at any time without
the 10% penalty and income tax usually charged for 401k plans.
Double
your nest egg: https://www.amazon.com/New-American-Retirement-System-Wealth-Reserve/dp/1461030072
Another way the wealthy pay NO taxes
“Asset-backed loans are one of the principal tools that the ultra-wealthy are using to game their tax obligations down to zero,” one analyst said. With low interest loans available, the rich pledge their stock, pictures or land for a line of credit. They can use the loan to buy that new mansion, boat or business without paying tax if they had sold their stock, pictures, or land for the purchase: neat. Further, locking in a long-term low-interest loan on an appreciating property assures the rich will not be hurt by future inflation. Paying off a 1% loan with an asset that grows at 8% is perfect for the future rise in prices. Another tax loophole (1035 exchange) allows a wealthy investor to exchange (SELL) their old property for a new one (BUY) without any capital gains. 1031 exchanges allow the wealthy to indefinitely defer capital gains taxes on investment properties. Two main types of taxes can be due upon the sale of an investment property: capital gains tax and depreciation recapture. Thus, a family legacy can be perpetuated for generations without ever paying their fair share of taxes. Our ‘collective’ debt is now 28 Trillion.
Stop paying their taxes: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Save $1,000 a year on life insurance alone
A recent survey of the cost of life insurance shows that shopping around really pays off. The survey showed that the cost of a 20 year term policy paying $500,000 to your family ranged from $1,896 at Allstate to $709 at unknown insurer sold by LifeQuotes. A real life 40 year old male in excellent health got the quote. Why the big difference? Allstate is not competitive in life because auto insurance is their game. Their mutual funds are also not competitive. Like Allstate, many companies sell these expensive products to “loyalty” customers since they know their niche does not shop around. The Allstate buyer spends $37,920 for the same $500,000 check as the other insurer pays in return for $14,180. The difference, $23,740 is pure profit for Allstate. The unknown insurer at $709 is still making money because this survey did not include not-for-profit insurers who charge $230 or $4,600 total. The difference $33,320 or $1,666 a year, if invested in a stock mutual fund during that 20 years could provide an extra $136,166 in retirement. The benefit $500,000 to your family is the same but the cost difference $1,666 pays off home.
Insurance discounts: https://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/
Are
you spending enough in retirement?
Savers
have a hard time spending their nest egg when they retire. Most savers don’t
realize how far we have come in the last 10 years. The market index has climbed
15.6% a year
since 2009. Your $100,000 grew to $537,000. You could get your grandchildren
started in their future $1 million fund or fund a college
529 account. Each of you is allowed to give each person up to $15 grand
without tax. Every retiree wishes their parents had started their savings
early. That may be your legacy to your family each year instead of waiting
until you die. Plus, using a low-cost index in a tax-advantaged account they
could reach their life goals and never pay taxes on the gains of the account.
It’s a gift that keeps on giving.
https://www.amazon.com/Give-your-child-leg-manage-money/dp/1096505355
Where to invest for the next ten years
The fastest growing age group is the over 65 year olds. What do ‘grays’ need? We need health care at home, low-cost advocates, drugs, medical interventions, hospital services, vacations, public transportation, Social Security guarantees, security, and shared living spaces. Which firms will be able to meet these needs? Many companies that provide these services and products are represented by the largest 500 US corporations. How can we invest in all of them since we don’t know which will excel? We can follow Warren Buffett’s advice and own a little of each one of them. He recommends the low-cost index of all these firms for retirement funding. They provide both growth and income at a reasonable cost. They provide broad market exposure. In fact, Mr Buffett thinks we don’t need a broker to provide what we need in retirement. All we need is patience and common sense smarts.
Pay less, earn more: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
How to maintain patience in a volatile market
Every investor stays calm as the market produces 15, 18 even 40% returns over time. But what happens “when the tide goes out and you discover who’s been swimming naked.” as Buffett says. How do we learn that the “market is a device for transferring money from the impatient to the patient”. He explained why we should NOT follow the advice of Wall Street. He has told us how to be successful investors. We need a plan with long-term goals. We need to keep them on our fridge so we see them everyday. Volatile times are normal: that is when the wise buy stocks. Remember, time is on our side. Be aware of the history of the market—up 32%; down 37%; up 11.06 over time. Proof: IRAs with big bucks have tripled over the last 10 years.
Unbiased advisor: 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" once
Our Jan 6 ‘Truth
and Reconciliation Commission’
‘Hang Mike Pence!’: “home-grown
fascism”
Who
rallied the terrorists to attack Congress?
How Govt wastes our money:
Congress’s
tax loophole helps bitcoin holders avoid taxes: we subsidize the rich
Some states have
stopped counting Covid cases: we
are moving into the Middle Ages
TX
will punish any business that requires masks for protection of customers
You
can’t claim your $100 now if you were vaccinated last year
25%
new LA cases from vaxx people: Delta is far more infectious: Vaxxed get
colds.
$3
billion U.S. aid program to help Mexico security failed to reduce bloodshed.
SCAMS/SPINS:
BEWARE: Get
on the floor quickly if you are older: no senior pass from cops: shoot
first
Facebook wants
people to be able to connect with God: Mark’s great money-maker idea!
Vatican
trial for theft $10 million in donations but just
one for sex abuse hundreds kids
US funded Pakistan
allows women to be beheaded for speaking out: religion or family?
Judge
gives FL go ahead with Covid infections on cruises: FL needs revenue!
Conservatives
get Covid illness then change to pro-vaxer: ideology or science?
Stephen Harmon, megachurch,
vocal opponent of
vaccines, dies: he add to 613,000 dead?
Covid vax NOT
“personal decision”: you
can infect and kill others like drunk driver kills’
“Don’t
let anybody know that I got this vaccine.” MO anti-vaxxers
Another Bolt up in
flames: GM
recalls 69,000 EV for ineffective repair
Senior discounts: tricky
rules may put you off but 15-20% off can save big
George Heckler SC caught
hedge fund debacle stole $19.3 million: 5 years prison
Investors
leave Robin and the merry men in the woods
Supremes
insist renters eviction stands: Eviction ban ends tomorrow 7/31.
Architect
of Surfside condo previously suspended after other buildings had serious faults
Jobs
Earn
$200 by streaming a NYC murder, fire or accident: use phone for Citizen
watch
Intel
says it will make chips we lack for cars, appliances, etc: I
must wait 18 mo fridge?
President’s
job description does NOT include inciting insurrection: Feds not immune
Who owns your account now?
Eviction coming for millions: rental assistance funds by state, city, county
Protect your tax return: use a IP PIN to submit your tax return: PIN issued after check
Expiration? We are
sitting on $15 billion in unused gift cards and credits
Car insurance rates: are you paying more than average? Time to shop and save
Miracles:
Cockatoos breaking
into trash bins across Sydney: learned how from other birds
Snow
leopard at
New breast cancer drug destroys deadliest
tumors — even after they spread
Police
& bystanders save baby by lifting car after drunk hits baby & mom
3
more states will require employers to offer IRAs if they don’t offer
pension plans.
Oldest animal
fossil: sponge 890 million years old today: Happy Birthday!
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
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
