Finding more cash in 2023: fight recession
Being frugal can be fun. Your goal is to see how much you can save to protect yourself from any emergencies. For instance: Shop for less expensive car insurance. We saved after GEICO raised our premium for 2 cars and Umbrella liability by $230. Ask your cable guy to cut out what you have not been using. Do you still need whole life insurance if the kids are gone and you have a retirement fund? Invest your $3,000 tax refund. Stocks are on sale: 20% discount from 2021. Consider using low-cost index funds since your advisor/broker may be costing you up to 63% of your long-term accumulations. Paying 0.04% per year on your $500,000 portfolio instead of 1.5-2% means saving $10,000 a year; over $200,000 over 20 years. Is your mobile phone costing you more than $125 a month? There are less expensive alternatives. Slow cooker pot roast or meatloaf a week’s dinner at $20 total. Instead of buying a new car which loses HALF its value in the first 3 years, find your model in the used car section. Save $250 a month ($3,000 a year) in finance charges.
Save $3,000 a year: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
Why everyone should have two IRAs
Even if you have a pension (401k, 403b, DB) at work, you
have more benefits and flexibilities with the IRAs. You can take deductions
on your taxes or take monster gains in retirement tax-FREE. You could take the
contributions for an emergency or starter home or education free of penalty.
You can make contributions without age limit as long as you have income. You
could create a legacy tax-FREE like life insurance or a retirement fund supplement.
You could create an large fund for your non-working spouse. You could earn tax credits for your contributions.
There are no required minimum distributions for one IRA. You can use much
lower-cost mutual funds. Cost
is the best predictor of investment success. You don’t need a will or
probate to pass on your funds to any beneficiary.
Begin Jan 23: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966/
Make sure your child learns how to invest the
Since it is difficult to predict your child’s future financial success, you can give them a foundation on which to build. The most important lesson of those living in retirement is that starting investing early makes life more secure. Since automatic investing from your checking account makes it easy to invest a small amount each month, begin by having $100-$250 sent to your low-cost mutual fund provider. Low-cost tax-FREE accounts mean you don’t waste your money paying commissions, fees, or taxes. Your kid’s account grows on 100% of your contributions. Investing $100 a month can grow to $1/2 million in 35 years using a 500 Index fund. At $250 a month, they have $400,000 in 25 years. Use a special investment account and they don’t give up 63% of their total accumulations. No income taxes mean they can keep 22% more.
Start here Jan 3: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355
Just don’t sell: if your accounts are down, you don’t have a loss till you sell
You only have a loss in your account if you sell. You don’t
need to sell if you are invested for the long term in a balanced portfolio or
fund. Look at the returns of the stock market over time here: http://www.moneychimp.com/features/market_cagr.htm.
For the long-term investor, the stock market index has returned 11% per year.
Even with loses of 37% in 2008, we have offsets of 32%, 22%, 38%, 28% gains in
other years. If you pay 0.03% in annual fees, you compound your investments so
that you end up with 10
times your total contributions over time. Yes, it takes time. We are
investing in solid companies not gambling. We are not trading in and out
from one HOT stock to the next. This activity costs more than it is worth
unless you have insider
information like our Congress people. So automatically investing $250 a
month, $3,000 a year (average tax refund), $102,000 total in a low-cost
stock market index can provide $1,111,555
in 34 years. This is Warren
Buffett’s investment advice for the rest of us.
Start now: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373
You too can pay only $750 income taxes just like Trump
How did a millionaire Super Con Man pay
only $750 on his income for federal income tax return? We now know that if
you claim un-audited
huge business losses, you can pay nothing to help the nation provide all the
benefits as an American citizen. Plus you pay nothing for hundreds of secret
service agents to protect you and your family, 2 well-stocked jumbo jets, 50
SUVs, 3 helicopters and rent in two big houses. You can use the idiosyncrasies
of the
https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
Retirement plan contributions increased
People can also put more money into tax-advantaged retirement plans in 2023. The amount that can be contributed to workplace savings plans such as 401(k)s is now $22,500, a $2,000 gain from 2022, and the amount of allowed “catch-up” contributions for savers age 50 and older now stands at $7,500, up from $6,500. Your 401k 403b contributions can cut your current taxes—you postpone them till retirement. On the other hand, the Roth version allows all your future gains to be tax-FREE. You lose the deductibility of current contributions but you gain the much larger tax benefit in the future. $22,500 invested in stocks for the long-term Roth means you can spend over $5 million in 30 years completely tax-FREE. It is time not market timing that allows your money to compound at 11% with little cost.
Use the best: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
Tell your child, “You don’t need an advisor” to earn $1 million
“A
blindfolded chimpanzee throwing darts at the stock listings can select a
portfolio that performs as well as those managed by experts.” So says
Have cake and eat it too: https://www.amazon.com/Where-can-your-child-invest/dp/1492164240
How to make your retirement account last as long as you do
Your advisor/broker has probably made the usual projection, concluding that you must buy an annuity from their firm. You have resisted because losing control of your nest egg makes all of us cringe. There are other ways we crack more eggs than we should during retirement. So we lose the power to compound higher amounts we will need. Many of us will live longer than we think. Ignoring health concerns now can cost you more later. My readers are holding onto expensive life and disability insurance plans that they will never use. They may cling to their legacy home after the kids have already decided to live elsewhere. Other readers are using pricy drugs instead of effective generics. Some readers still believe that bank CDs and bonds are the only securities to own as they age in a volatile market. A balanced portfolio into retirement protects us from failure. A few readers have taken higher distributions than they needed from their retirement accounts. They are keeping their kids in the lifestyle they have assumed. My readers are very charitable: they give to everyone who asks instead of committing to a certain percentage of their income annually. This dilutes the effect of their giving. Better to support one or two important causes. Giving to all reduces future growth for important charities.
https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Parallels of this era in the past
may hint at our future: democracy breaks apart legally
Billionaires
paid $881 million for votes in 2022
midterm elections
Nov 2020 Wealthy
discredit election process
Jan
6 2021 Direct
assault failed: guns
& bombs ready
Trump
engaged in a "criminal
conspiracy" to stop Biden
“I
don’t f—ing care that they have weapons”
Trump was “detached
from reality”
Trump
used mafia-style intimidation on the defenseless
Trump still terrorizing
election woman
Parscale: “a
sitting president asking for civil war.”
Trump:
“Just
say the election was corrupt and leave the rest to me”
GOP fascism: “RINO
hunt armed; no bagging limit” J6
comm threat
Trump’s Supremes END
personal rights & state
laws except for weapons
WMDs
Fascism: GOP
to stop women leaving state for abortion
It’s
not a court. It’s a junta: Two Americas
Trump: President
Biden is 'enemy of the state'
Christian
Nationalist Party (CNP) replaces
GOP
Jan 2025 Dictator
pardons himself: his Supremes agree
How Govt wastes our money:
Congress people retire
to more lucrative job: making
laws favor private firms: $ millions
GOP
to stop investigating GOP Reps’ bad behaviors: no jail for Trump’s Jan6
enablers
How
Trump worked tax law to pay next to nothing in some years despite AMT min.
tax GOP
To Cancel Staff Unions: GOP makes the rules now: anti-American
We lose; wealthy
gain: Taxing
income only to $160K for Social Security leaves it short
House stopped
working: no business; no bills passed; no decisions but we
still pay them
Stay safe: IRS
will not be auditing major tax avoiders under GOP: poor audited 5x more
Gun
detectors outside House floor disappeared under the new Republican
majority
SCAMS/SPINS:
Wild West in
SCOTUS mistake: “A well
regulated Militia”: these mass killings NOT by militiamen!
Regulator
FDA helped drug maker Biogen get quick OK for Aduhelm at $56K/year
IRS data prove TWO
Recall 42,000 Beetles: they have potentially dangerous
Takata air bag inflators: bags kill
SCAM: iRobot’s Roomba J7 series robot
vacuum caught taking pictures of you on toilet
Megan Hess CO caught
fraud: selling body parts without permission: 20 yrs jail
Peloton caught
failure report hazards: fine no jail for people/pets pulled under treadmill
John Lopez caught
fraud: promised clients his 'algorithm' guaranteed 10% returns: jail
Proud Boys go to trial on sedition charges: coup
sedition instigators go free
Credit Acceptance caught
lying cost of credit; trick into high-cost loans on used cars.
Chase caught
suing borrowers: deceptive affidavits and other documents “robo-signing”
Oil up last month; gas
up this month: drillers screwing Americans for ’22 bonus payouts
1
lb butter up .50 cents in one week at my superstore: is dairy making more
or grocer?
Fewer cars, bigger profits: prices
rise for new: electronic/gadgets send us back to dealers
Jobs
26
Work-From-Home Jobs That Pay $100,000
New
House Speaker: Top Con Man Trump, de
facto head of the GOP already
Who owns your account now?
POSTPONING
TAXES: SELL NOW, PAY LATER
You can postpone
taking RMDs longer but that could mean greater
tax bills later
Federal Reserve shows
people
used cash for only 20 % of purchases in 2021.
Miracles:
Christian
nationalism overlaps provides cover for white supremacy: Jesus
was not a racist
Alaska’s
Arctic Waterways Are Turning a Foreboding Orange: global warming warm up
Alex Rodriguez
finished shoveling own driveway?: large
area, shovel sticker new maybe
No ’22 bank
robberies:
@
Our Universe is Mind-Blowing
Light is both
a particle and a wave depending on how we look at the light.
I
don’t think that there is any such thing as a position or a velocity of a
particle.
Everything (galaxies
to stones) in universe made of subatomic
energy ‘vibrations’
A subatomic ‘particle’
is the smallest possible vibration (quantum) of a quantum field.
Mass–energy
equivalence: E=mc^2. At the smallest
level; Everything is moving a little
Energy into matter: scientists
converted light energy directly into matter in one step
Physics Nobel Prize:
“entanglement” 2
particles share info instantly at a distance
“It may be that gravity and quantum mechanics are
exactly the same thing,” Leonard Susskind
Gravity
might induce the collapse of quantum vibrations into 1 quantum state—our
world
There is no TIME at this
level because of force fields come and go in all directions.
Universe expanding: events
may not come together like they did before.
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
Gold
made from neutron stars: collisions produce more neutrons:79 protons,118
neutrons
The proton
is so complicated science still finds new energy entities/forces every
year.
“Empty space is a
boiling, bubbling brew of virtual
particles that pop in and out of existence in a time scale so short that you
can’t even measure them.” Space expanding.
The electricity we use comes
from the field around the wire not from election itself.
Scientists
build 'baby' wormhole as sci-fi moves closer to fact: inside quantum
computer
@
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
http://www.theinsidersguides.com/
Alerts available
at http://dankeppel.blogspot.com/
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