Retirement is a
dirty word to some Boomers
“For the first time in well over 25 years, we see a marked decline in labor force participation of older Americans and a marked rise in the share of them that are retired,” said Richard Fry, a labor economist with the Pew Research Center. But many Boomers just can’t let go of their ‘babies.’ Other goals/pursuits/hobbies need to be explored to make the transition. The hard part: “That whole process of thinking about work on the way to work, of planning mentally your day.” Some of us have had to plan how much we can spend and how we want to spend our time. We need to consider our costs for a longer period of time in retirement since we are living longer. Some of us are still paying off our mortgage. I found the Retirement Nest Egg Calculator useful in determining my asset composition for long-term spending. I know how much of each group—stock, bond, cash—I need to hold in order to sustain my income for 30 more years, including inflation.
My plan gives me confidence: https://www.amazon.com/Your-Retirement-Income-Checklist-TrumpWorld/dp/1544703260
Living beyond our means: walking a tightrope without a net
Most of us are living paycheck to paycheck, according to a
recent survey. Where are you in these findings?
- Incomes
of more than $100,000: 42%
- Incomes
of $50,000 to $100,000: 66%
- Incomes
of less than $50,000: 77%
It seems the more we make, we still live dangerously. If we have an emergency expense or are laid off, many of us will be facing hard choices. Many households have only one paycheck coming in. This makes life even more precarious. Contrary to the industry advice, you don’t need an expensive advisor to build a financial safety net. All of us have access to a savings account or a home money jar. About 40% of us are paying our bills on time. That means we are not wasting our cash on up to 24% bank card interest. That may be your first task—reduce your outstanding balance so if there is an emergency, you can ‘charge’ it. Second, saving or investing in an account at work may help you get over the monthly savings ‘wall.’ You don’t have to save what is left after your check is spent. Each $100 you add to your employer 401k or other pension account comes out before you see it. And it saves you current taxes. You may even be given a FREE money match. If your job does not offer this account, you can make your own tax-managed account online or at your bank. The trustee for this account can help you save by automatically debiting your checking account monthly. You don’t have to face the savings ‘wall.’
Start today; feel safer: https://www.amazon.com/Get-What-You-Want-FINANCIAL-PLAN/dp/1514751151
New American Retirement System: $2,000,000 Tax FREE
Create a $2,000,000 tax-FREE Retirement System. Use the best legal tax shelter: no taxes . . . ever. Tax-favored over a 401k even with 6% match* Protect your family and assets with your System. Borrow from your System to pay for large purchases. Buy whatever you need without going into debt to others. Self-insure manageable risks—invest the premiums saved. Buy financial services wholesale--save $3,000 a year. Manage your System in 1 hour per year. $2 million can produce $160,000 a year in retirement. No income taxes—spend it all. What is the hitch? You have to buy low-cost stock index mutual fund automatically every month. You can’t trade or stop investing. I will help you set up account on the phone: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
Have you taught your child how to make money?
Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to use low-cost insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in retirement supplement. Now your child can build an account that provides tax-FREE retirement income too.
Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355
Putting your refund to good use
The average refund is $3,000. Save the $300-$600 tax prep cost by doing your tax return using IRS-approved tax software via IRS free file. Or AARP free tax prep. Do not mail your return since IRS is still processing 2019 paper returns. I just got my refund! Have your refund put in your account directly—direct deposit is the safest way to finish your taxes. Take all your credits: Child and Dependent Care Credit was supercharged through the 2021 American Rescue Plan. Parents can receive a tax credit worth as much as $8,000 — nearly four times the previous limit of $2,100. The Child Tax Credit provided funds throughout the year but some families may have been shortchanged. The expanded Child Tax Credit, by comparison, provides $3,600 for each child under six and $3,000 for children aged 6 to 17. The fact that the tax credit is also fully refundable is important because it could boost the tax refund that many parents receive this year. Invest your refund each year and you could have $500,000. Start your tax-FREE retirement fund so you have enough later on. When you can no longer work, you can spend ALL of your investment earnings—no taxes. This helps avoid taxes on your Social Security too.
Guarantee your future: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Insurance agents balk at providing full disclosure products
Insurance agents are suing the Labor Dept because they will be required to become fiduciaries to sell annuities to retirees. The fiduciary rule requires them to explain how they get paid, makes them liability if the annuity increases investor risk and may end their commission-based compensation arrangements. Agents fear having to disclose their conflicts of interest in pay from insurers and third parties. A fiduciary must provide the best product for the client which usually means lower rewards for the seller. Agents claim they will not be able to afford to sell annuities to working people since simple fees are lower than complex commissions: Some agents are paid with an advance on part of the client’s earnings over the 10-12 year future. Thus clients earn less than they would have. This is usually not disclosed in the traditional annuity sales process. Only later do client’s find out. Then they are charged 1-10% to get their money back. Insurers are lobbying Congress to force us to put our 401k nest egg into an annuity when we retire.
See alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Trump
& lawyer criminal conspiracy probe
Don
promises 2024 GOP takeover
Don
and Tucker support Putin’s fantasy
Trump’s
‘genius’ bombs schools, orphanages
Ukraine:
‘I need ammunition, not a ride’
How Govt wastes our money:
Do you really want
to give your face to the IRS? Facial recog not wise. Hackers
rejoice
Sanctions:
just talk: Russian biggies $ billions not touched: ships, homes, firms left
alone
Putin
hides all his assets from Biden just like Trump: “only
the little people pay taxes”
Congress Made Sure
the Rich Retire in Luxury—at
our expense: we pay their subsidies
GOP
actually takes meeting with president’s nominee for Supremes ,,, unlike
last time.
Congress
keeps vital drug like Insulin high to please drug makers: hospitals to make
own
Oil/gas
firms pay GOP committee blocking Fed control of inflation/money: GOP chaos
Our government approving
medicines before shown they work: making
us guinea pigs
SCAMS/SPINS:
US
does not need Putin oil but oil
producers raise price already
BP
divesting its 20% stake in a Russian state-owned oil firm Rosneft
Russia
could use crypto to circumvent the effects of sanctions
France
takes Putin’s bud’s boat: $ millions for
Ukraine
asks for EU membership now; EU has
been silent before
UN
peacekeepers: where are they when
MORE:
War
crimes: Putin
using cluster/vacuum bombs on schools, homes
US
‘donating’ drones to attack Putin’s convoy:
Japan
Special forces volunteer to fight USSR-minded Putin’s troops
FL
ex-cop kills father who texted daughter during movie previews: cop: “feared
for his life”
Another ‘no-knock’
night raid killing by police: police not at foult
How
to buy a car when selection is slim: few new cars and high price used
Honda Tesla cars: randomly
slam on the brakes for no reason—No
safety standards
Beware: Car
illegal repossessions up: no chips, used car demand, big resale profits
Scammers come in all forms: research
before fall in love
Homeowner
$3,708 scam: FAKE: No program to give homeowners money
Cambridge Investment Research caught
overcharging fail conflict of interest
Roger Ng Goldman Sachs caught
stealing $ billions from Malaysian fund: ruin GS image
Richard Hoffman AZ caught
Ponzi crypto-loan (mafia-links) money-laundering scheme
Ameritas caught
selling more expensive funds to get kickback: failed fiduciary label
Baseball’s millionaires fight billionaires for more: ticket
price$ exclude working folk
Movie
tickets up: variable pricing at some: pick
your time wisely
All these products were recalled: dangerous falls,
burns, crash, etc, etc
Hershey candy caught
using non-food ingredients (Whole Foods) no more joy
Fake fake fake: how
we are mislead by photo tricks: PhotoShop any photo to mislead
TX school officials are violating
the First Amendment by removing books from libraries
Credit reporting agencies
used as a tool to coerce and extort patients on medical bills
Supremes
hide how we torture people: protect ID of torture contractors
Unmasking
for the new plague mutation BA.2?: 959,000
dead
Are doctors
running ‘pill mills’ and pill makers pushing more distribution ‘drug
lords?’
Jobs
Protect
and serve: knee-to-neck move “to
save his life.”
Hourly rate for a babysitter leapt
11% in 2021 to $20.57
Average hourly
earnings rising only a penny to $31.58
Who owns your account now?
First Horizon, TN to Toronto-Dominion Bank
Best
pet insurance ratings: Embrace
Pet Insurance
IRS changes our legacy beneficiaries: our designated beneficiaries may be disregarded
Vehicles that save you money: 200,000+ miles: engineered to last
Miracles:
NYC DA runs on
sending Trump to prison then immediately folds: mafia
got to him?
Driver run over by
military vehicle: driver,
not car, survives
CA driest
January and February on record: drought in the snow
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
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
No comments:
Post a Comment