Brokers try new
trick: “DIY” Planning solution
Engaging new clients
in the 401k space using this strategy means capturing ‘undirected’ retirement
funds with the promise of ‘financial planning’ tailored for individual clients.
This sounds good because this approach presents you as the driver of the plan.
If this was truly a ‘do-it-yourself’ plan, brokers/planners/RIAs would not be
involved. However the firm knows most retirees could not accomplish a plan or
solution. Most retirees in 401k plans have most of their ‘nest eggs’ in one or
two mutual funds. Most retirees have no idea what a financial plan entails and
how to make one. The firms will provide all the details but at a price much
higher than what most 401k administrators charge. Most retirees will not think
twice about the costs over the next 25-40 years. The costs can be justified
since most would need to find and pay a licensed planner anyway. The hook is
the idea that the retiree themselves would have a full plan designed just for
their situation. In reality, most firms could not afford to provide a
customized plan. Most firms use standard planning software to input a client’s
financial information. This standard software provides a voluminous written
document with standard projections based on the usual answers to retirement
questions. There are better
options so you don’t have pay high fees for the rest of your life.
https://www.amazon.com/Reset-Your-Retirement-Income-retirement/dp/1512304344/
The only ways to get rich:
- Marry
money.
- Inherit
money.
- Exploit
a unique talent.
- Get
exceedingly lucky.
- Own or
lead a successful business.
- Spend less than you make and invest your savings wisely over long periods of time.
It is really just common sense. Our grandparents learned the hard way during the global Depression of 1929-39. You were lucky to have a job. People saved: never spent more than they made. You can become rich by saving 10% of what you make and never going in debt—except to buy your home. You get richer by investing when nobody else will. Working people who get rich don’t try to keep up appearances. We have recently learned that you can’t avoid risk by saving in bank products. Banks make a lot of money from folks who fear taking market risk even though inflation wipes out their 1-2% savings tools. Over time, investing in profitable companies beats inflation and can make you rich. You don’t pay an advisor 1-3% in charges and fast trading. Cost is the best predictor of investing success. Using tax-FREE stock index accounts, you can be rich in time.
https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236
How is your retirement fund doing?
With the fall in stock market value this year, have you quit saving? Have you automated your saving/investing? Do you track your progress annually with a calculator like Vanguard’s retirement calculator? Do you have a balanced stock/bond portfolio that allows you to sleep at night? Do you have enough saved that you can calculate a future nest egg for your needs? Automatic investment strategies help you buy more shares when prices are low and fewer when high. Will your debt be under control later? Have you made a plan for expenses and income? Have you learned about Warren Buffett’s strategy? Do you take the time to learn how to read your financial statements? Are you buying stocks on sale? According to AARP, over 57 million Americans don’t have access to a workplace retirement savings plan. This access makes you 15 to 20 times more likely to save for retirement. Use a tax-FREE investment accounts. Start a plan today. https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957
Which is better—ETFs or funds?
ETFs are good for trading in your brokerage account. Mutual funds are for long-term accumulation. Cost is important to long-term investors since you will kill the “miracle of compounding” with high costs. Both index mutual funds and ETFs can provide investors with broad, diversified exposure to the stock market. Trading an index ETF seems a contradiction to me since the purpose of an index is to take advantage of better investing results by holding quality stocks forever, not missing the highly volatile gains in the market. Fast trading has been shown to be a losing strategy by many unbiased money professionals. Even master investor Warren Buffett recommends using only two low-cost index funds for retirement income. Plus index funds are very tax efficient since the index that they reflect doesn’t change often—buy and hold.
Follow Buffett’s advice: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
Annuities add little value for investors with income plan
A recent Morningstar study concluded that annuities add little value for investors who are well-prepared for retirement. The study looked at failure rates, or the probability of running out of retirement savings. Most retirees need a steady income and the annuity option as part of a 401k or 403b plan is the industry’s solution. However, annuity costs exceed the cost of a trustee-managed IRA payout using low-cost mutual funds. Many trustees offer steady income at no extra cost. The standard IRS tax schedule provides steady income of about 4% per annum. The RMD or required minimum distribution is specified by the IRS based on age and the previous year’s total accumulations. Using a balanced mutual fund, this strategy overcomes the problem of an annuity payout that loses value to inflation. If you have $500,000 in this kind of account, you are likely to receive $20,000 plus a year recalculated for inflation each year. Even better, if you use the tax-FREE retirement accounts, you pay NO taxes on your retirement income and probably none on your SS benefits either.
Plan for NO taxes: https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072
Who is a real fiduciary?
Not
all financial advisors are fiduciaries
Selling only their firm’s high-cost products isn’t in
your ‘Best Interest’. Regulators have given into the financial sales
industry in the sense that now almost every sales person can call themselves a
‘fiduciary’. A fiduciary is a person who does not profit from the advice they
give. All financial people who work for a firm—brokerage, advisory or trust
company—must sell only what their firm has a contract to offer. Legally these
‘fiduciary’ financial advisors can’t avoid this conflict of interest because
they work under a license provided by their firm. In each of the firms I worked
for, the products and services we offered were authorized by management. As a
member of the product selection committee, I had to provide full due-diligence
on the vendors and products we used. We picked the compensation structure we
needed for our revenue goals. Sales people can be paid by commissions,
quarterly fees, shared-revenue and other means. They can’t offer Vanguard
products and services because Vanguard is owned by its investors. You will know
you don’t have a real fiduciary when you must sign a BICE. A Best Interest Exemption gives the
broker/advisor a safe harbor to recommend an investment product that may
benefit them more than it benefits you, and that is a conflict of interest, no
matter how much lipstick you apply. Use a certified financial planner (CFP®) for unbiased advice. Or learn from
experts like Warren Buffett, John Bogle, and Burton Malkiel what you need.
https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
********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
govt overthrow 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
January
6, 2021 “A
date which will live in infamy”
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
Apr 9 Illustrated
Anne Frank book removed by Florida school
Apr 21 Trump: “I
am your justice”
May 9 Trump
guilty of sexual abuse
Jun 8 Trump
indicted by the United States of America
Violation
of the Espionage Act
Conspiracy to obstruct
justice
Making false
statements
Conspiracy to defraud the
Conspiracy to obstruct
Congressional proceeding
Obstruction of and attempt
to obstruct an official proceeding
Conspiracy against right to
vote
Attempted coup
d'état by
any other name
350+ people have
been sentenced to jail or prison.
Trump and His Gang Get the Mob Treatment
Aug 4 “IF
YOU GO AFTER ME, I’M COMING AFTER YOU!”
Mobster
#1 Enrique Tarrio gets 22 years
Mobster
Stewart Rhodes sentenced to 18 years
Mobster
Ethan Nordean gets 18 years
Mobster
Dominic Pezzola sentenced to 10 years
VIOLATION OF THE GEORGIA RICO (RACKETEER INFLUENCED AND
CORRUPT ORGANIZATIONS) ACT SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
CONSPIRACY TO COMMIT INIPERSONATIN PUBLIC OFFICER FIRST
DEGREE
CONSPIRACY TO COMMIT FALSE STATEMENTS AND WRITINGS
CONSPIRACY TO COMMIT FALSE DOCUMENTS
FORGERY IN THE FIRST DEGREE
CONSPIRACY TO COMMIT FALSE STATEMENTS AND WRITINGS
FILING FALSE DOCUMENTS
SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
FALSE STATEMENTS AND WRITINGS
SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
FALSE STATEMENTS AND WRITINGS
“Wannabe
Dictator” to
run House of Congress
Jan 2025 Dictator
pardons himself: his Supremes agree
How Govt wastes our money:
Congress
dysfunctional: House unworkable but still paid; FL wannabe dictator leads
SCAMS/SPINS:
How do young
readers feel about book bans? Listen
Hamas attack misinformation
"at a level of sophistication that will be staggering,"
False
diplomatic responses to the war created simply by taking previous
comments
GOP game: removed eligible
voters from rolls after listing them as convicted felons.
Dem Menendez, agent
of the Egyptian government, bribed with gold
TransUnion caught failed
to ensure rental checks were accurate.
Football coach
shot by a father upset about his son’s playing time?????????
Banks
to refund $140 million junk charges, overdraft fees, etc: Protection Bureau
order
Wilmington Trust caught
overcharging
for wrap program: $1.3 million fine
Putin
follows DeSantis to re-write history to brainwash next generation
Jobs
jobs.interestingengineering.com/
ACT test scores for US students drop to new
30-year low
Social Security could face a 23%
benefit cut in 2033 if Congress can’t act: retirement?
Police
struggling to recruit enough staff
Who owns your account now?
Tesla plowed into a
semi-truck; driver died: is
Autopilot responsible?
Why People Choose Medicare
Advantage Plans
do-i-need-a-financial-planner/
Wrong
investments in your self-directed IRA can kill the account benefits
Popular carriers
with lowest
average car insurance rates
6
fastest ways to pay off credit card debt
'Snowbirding'
in Retirement: 10 Tax and Planning Facts to Know
Inflation
was stable at 3.7%, while core inflation fell to 4.1%, from 4.3%: shelter?
Social Security COLA
for 2024 set at 3.2%
Monthly premium for
Medicare Part
B will be $174.70 for 2024, up from $164.90
Miracles:
AI
transforming cancer treatment/early detection for improved, minimally invasive options.
New material to “hide
troops in plain sight”: body heat shield from drone detection
MIT's 3D-printed
hearts offer hope in overcoming
the organ shortage
Kelvin Kiptum new
world record marathon time: 4:36/mile
pace…for 26.2 miles
@
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.
A ‘particle’ is an event;
not an objective thing. This event is set of complex relationships.
Mass–energy
equivalence: E=mc^2. At the smallest
level; Everything is moving
Energy into matter: scientists
converted light energy directly into matter in one step
In place of atomic
lattice, light
waves used to create an optical lattice with same geometry
Physics Nobel Prize:
“entanglement” 2
particles share info instantly at a distance
Quantum
mechanics violates local realism: two objects behave as single system at
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
Strange state
of physics that allows energy
to flow frictionlessly through a material.
Bending light from
extreme gravity reveals largest black hole
so far
Curved
SpaceTime: heavy masses and simultaneously quantum effects become visible
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: created our time.
Our planetary
system: rarest
system: only 1% of all systems with same number of planets
Stars fueled by the self-annihilation
of dark matter might have been spotted for the first time by JWST
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.
New method to study systems
with long-range interactions: previously puzzling experts
The electricity we use comes
from the field around the wire not from electron itself.
Scientists
build 'baby' wormhole as sci-fi moves closer to fact: inside quantum
computer
starts-with-a-bang/universe-expansion-not-accelerating/
Physicists knew black
holes eventually disappear particle by particle. Now they think everything
else does, too.
Astronomers
discover raw
materials for life are present all across the Universe: methyl cation
@
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/ No AI used in these comments
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