Your Wealth Reserve: How government wastes our money

Feb 2024

How Govt wastes our money:

Trump encourages Putin to invade EU countries: we fight WWIII; $billions for munitions

Expensive Year in NASA’s Search for Extraterrestrial Life: Europa, Jupiter’s moon’s ice

Wasted taxes: NASA putting a nuclear reactor on the Moon: humans get sick in space

SCAMS/SPINS:

Tim W Leveroni Bruce A Rathkamp illegally signed client docs

IRS is warning about new 'refund' scam letters

Scammers took $50 million from elderly people, $30 at a time

Federal Trade Commission ordered the maker of TurboTax to stop misleading consumers

Rising premiums and difficulties in getting coverage chills auto insurance shopping

Texas trucker border protest exaggerated in out-of-context clips: fakes everywhere

FL deputy Jesse Hernandez shot at unarmed suspect after acorn hit cruiser: ‘scared’ him

Don Novo recalls Cuban-style cured meats may carry listeria: return to seller

Jobs

Who owns your account now?

Atria Wealth Solutions to LPL: 2,400 advisors move

Large banks offering worse credit card terms/rates than small banks and credit unions.

Miracles:

A bookshop in Asheville is now sending banned children’s books back to FL kids

Pope canonizes first female Argentine saint

OR resident diagnosed with the bubonic plague from sick pet cat

Kansas couple at Chiefs rally disarmed a person pushing crowd with a gun.

Researchers found origins of water in our Solar System before the formation of the Sun

Beach Boys Brian Wilson has dementia: US’s best band--dazzling harmony-filled songs

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/

Lessons from successful investors

Is continuous or active portfolio rebalancing strategy right for you?

Continuous or active portfolio rebalancing is supposed to be the new strategy of choice among many advisors and financial experts. However, before you let your advisor talk you into this vision, remember that rebalancing can cause you to sell a security before it may continue to new high-value levels. You may be selling low and buying high. There is good science behind the strategy of NOT buying and selling frequently. Some investors take pride in not trading at all. Rebalancing may be profitable for your advisor but not for you. Many studies prove that an “active” strategy of buying and selling will not be as successful as the B&H one. Investors may prefer a ‘continuous portfolio rebalancing’ as emotionally satisfying compared with a long-term hands-off strategy. Most investors cannot maintain a passive strategy for long. They want an advisor that can “pick” the future ‘winning’ stocks even though very few can actually accomplish such a thing over and over. It may be better to use the top ten mutual funds over the long term.

https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Why do some investors hold only the S&P500 model portfolio?

Why do some investors ignore their advisor advice to “manage” their portfolio by selling some winners and buying some promising growth stocks? Some investors just want movement in their holdings as apposed to holding the same old securities year in and year out. However, over time, holding the same large profitable businesses may make more sense for investors trying to build their retirement fund. Holding a low-cost S&P500 index fund is the strategy recommended by Warren Buffett and other proven experts. This fund provides consistent comprehensive returns from the largest US stocks. It reflects the US stock market long-term return of 11% per year.

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Create a NO-pain emergency fund

Folks who have an emergency fund feel less encumbered by money. They feel secure in their every-day spending. They know that they will not be in a drastic situation if they have an emergency car repair or medical bill. They mind their money with complete confidence knowing they are prepared no matter what happens. Usually they skip paying annually for a home warranty policy since they have their emergency fund. They keep their fund hidden from extended family—especially those who tend to want to borrow when they are short. These folks tell me that they keep their fund growing by having small amounts taken from their checking account to a savings account on the day they get paid. They began with their tax refund ($3,000 or so) to seed the account. Since their goal was to have $10,000 or more in the account, they have $130 moved every other week. They may add their tax refund every year if needed. They have decided that only real emergencies qualify for the fund. Car maintenance, payments, insurance are NOT real since they can be “planned for” in advance. They swore by using a regular budget for expenses that they know are coming. These folks use a budget regularly so they only have “un planned” emergencies.

https://www.amazon.com/dont-have-money-Financial-Emergencies/dp/1537636707

********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

Jan 21 2010 Corporations’ election-spending unlimited

Billionaires paid $881 million for votes in 2022 midterm elections

Nov 2020 Wealthy discredit election process

Nov 21 2020 Trump’s Plans for a Coup: criminal

Nov 21 2020: Trump plan: US Marshals seize voting machines

Jan 6 2021 Direct govt overthrow failed: guns & bombs were ready

Trump engaged in a "criminal conspiracy" to stop Biden