Are Target Date funds right for you?
For investors who want a better than average return that they can “set up and forget” target-date funds provide the best option. An estimated 40 million Americans have put at least part of their retirement money in target-date funds since they first started hitting the market in the early ’90s. The amount of money in target-date mutual funds and exchange-traded funds—whose mix of stocks and bonds go from riskier to more conservative over time—has now reached $1.75 trillion. If you have a 401(k) or other retirement account that invests in the market, chances are that some of your money is in a target-date fund. The best funds are low-cost index funds which provide higher returns and less volatility from wide comprehensive stock and bond markets, national and international. Vanguard Target Retirement 2060 Fund has provided returns of over 11% since 2012. Your money doubles every 7 years at that rate. No advisor fees is key to $million retirement fund.
https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373
Another way the wealthy avoid their fair share of taxes
Private placement life insurance is already in the portfolio of the rich since life insurance benefits are never taxed. Our representatives made a little-noticed change in U.S. insurance law at the end of 2020 that makes the tool more powerful, at the same time that competition among insurance carriers and advisory firms is giving rich investors more flexibility, lower costs and a wider choice of products on PPLI platforms. Biden’s tax laws, if enacted will make insurance more attractive. The policies can fail if not funded properly over time. Once assets are inside a PPLI, they can’t be taken out without a big tax bill — though they can be borrowed against or rolled into another insurance product. Insurance is combined with other loopholes: Family offices, for example, can buy PPLI policies inside dynasty trusts, which are vehicles that let multiple generations of wealthy heirs avoid the estate tax. As one advisor said: “Rich people can do things other people can’t.” There is one legal tax shelter we can use so we don’t end up paying their taxes.
Don’t pay their taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
Why are index funds recommended by Warren Buffett?
“I
just think that the best thing to do is buy 90% in S&P 500 index
fund.” Unless you are smarter than Buffett with $102 billion in proven
stock-picking assets, you should take his advice. Buffett realizes that it is
the Miracle of Compounding that has multiplied his assets over time. Yes, he
picked some great companies at the right time, but it is compounding of
earnings that does the real wealth-building work. “My wealth has come from a
combination of living in
Go with Buffett: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513
Most retirees use RMD not annuities for retirement income
Major study of how people manage their income and spending in retirement. Most decreased their portfolios’ equity concentration after rollover. About 30% had an annuity and/or a pension. Their median estimated investible wealth was $300,000–350,000. Their median observable retirement wealth in accounts studied was around $110,000. The most common age to receive Social Security benefits for the first time was 66. The most common retirement age was between 65 and 70. Most used the RMD withdrawal tables to determine income. People who don’t take any distribution before their RMD age had much less observable retirement wealth (roughly a quarter) than those who were taking early withdrawals. This suggests that the need to efficiently draw down wealth is more critical for this less wealthy segment of the population. The RMD approach tends to generate more income later in retirement and can even leave a sizable account balance at age 100. Unlike the RMD approach, reflecting actual spending allows retirees to support higher spending early in retirement and achieve greater utility of their savings. This requires making/following a plan.
https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716
**********ACCOUNTABILITY**************
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
Our Jan 6 ‘Truth
and Reconciliation Commission’
Trump: Osama
wasn’t a “monster”
FBI
seized terrorist’s iPhone for “seditious conspiracy”
How Govt wastes our money:
GOP
wants to go back to Afghanistan: re-invade to save
the Middle East (oil)
SCAMS/SPINS:
TX
leads
GOP
ends progressive laws of fairness: abortion, voting, guns, education,
inequality, taxation
GOP
threatens telecoms if deny Congress request for records of co-conspirators to fascist
coup
Lift
Uber others pay for drivers sued for taking women to clinic in TX under new ban
Comcast/NBCUniversal,
AT&T
paid for sponsors of abortion ban law: yet say
opposite
TX
Gov Abbott vows to "eliminate all rapists": change definition of
rape or eliminate organs?
Pre-Roe-Wade:
29,227 women
traveled from Michigan to New York for an abortion in 1971–72.
Judge
who ordered hospital to treat Covid man with de-wormer was reversed by
another
Masks
and vax needed for ‘mu’ variant from SA: 2,000
TX
doubles student Covid infections in 1 week: No Masks shuts 45 school districts
Do
it for the kids: Anti-vax
anti-mask Christians killing babies with Covid plague
TX district mandates
masks after their 2 teachers die in 1st week of school: students
sad
KY
GOP votes down mask mandate for schools: condemning students to Covid
sickness
Columbus
OH requires all residents regardless of vax to wear mask in indoor places
Jury trials delayed:
anti-vax
jury candidates dismissed by court:
Nurses
quit work rather than get vax: patient safety falls to ‘MY’ freedom: 655,000
dead
250,000
bikers prove we don’t have ‘herd’ immunity with 75% vax rate: avoid biker
bars
VT
state troopers caught making fake federal vax cards: 3 resignations so far
Stick
‘em up: SC woman pulls
a gun on Burger King staff after receiving the wrong drink order
Tesla
auto pilot kills another driver changing his tire on NY highway.
Tesla
crashed into a Florida home Friday, killing two people: autopilot ran stop
sign?
BitConnect Scammed Investors
Out of $2 Billion With Fake Crypto Trading Bot
HP
employees’ pensions sold to Prudential
Better Future
Forward caught
misleading borrowers re: loan called ISA instead
LendUp Loans caught
violating order: deceiving
people about cost of loans and refis
Wells caught
failure to pay customers charged excessive or improper fees: fine no jail
Nation’s
deficit has reached $2.7 trillion after Trump
tax breaks fail to pay for themselves
Jobs
Chip shortage forces General
Motors to idle eight of its 15 North American plants
VT New
residents of the Green Mountain State can get up to $7,500
Bitcoin
miner: luck, skills and equipment are expensive to acquire: keep day job
Amazon
college education for some warehouse workers: conditions apply
Who owns your account now?
Actors rob jewelry shop for NCIS stopped by real SWAT team but can’t sue CBS?
Guide
to reimbursement for lost/damaged goods in storm Ida
Spend
your Bits in El Salvador: Bitcoin legal tender in
Miracles:
graduate
without student loan: colleges with 100% financial aid
1777
Washington requires troops to get smallpox vax to save lives: vax is
American
GOP
will reach 1918 flu pandemic death rate of 675,000: Govs
fight Prez mandate
Permafrost
thaw causes Denali park to close roads:
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
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