Your Wealth Reserve: March 2020

Friday, March 27, 2020

Retirees NOT forced to sell shares for IRS

Retirees may NOT be forced to sell shares by IRS

Congress passed the $2 Trillion bailout bill that may allow retirees to stop selling shares to fulfill the RMD requirements of their retirement accounts. While this measure and others would allow savers to keep more of their savings, waiving the RMD for 2020, the House bill would work in favor of those who don’t need to live off of their IRA or 401(k) retirement funds. This would benefit those who are not living off their retirement nest eggs at the present time. The RMD is calculated on the previous December account balances for all those over 70.5 years of age. We must pay taxes on the gains that have been cut drastically by the C-19 market sell off. To reach the amount specified by our RMD, we would need to sell more shares than we would have had to a month ago. Waiving the RMD requirement for 2020 would reduce the tax revenue this year. Taxes will need to be increased in coming years to pay for the additional $2 Trillion spent by Congress.

Avoid the future taxes: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

My shares of stock and mutual funds are hanging on

I have increased my shares by NOT selling. The dividends I receive are adding more shares because the share price has fallen. Shares are on SALE. This is why Buffett is buying not selling. Buffett’s companies like Geico are still in business and collecting $ millions in premiums so he has $ billions to buy shares of Kroger, Delta, etc when the price is low for growing firms. Like Buffett I am buying stocks and shares of quality firms while they are on sale. They are on sale because of panic and the fact that some active mutual fund managers don’t want to end the quarter with a big loss. They will say they only lost 15% when the market index is down 25%. So they are selling at a loss which they can offset with some gains. I am not worried about my investment return number for the quarter. I am investing for future income and so when the price goes up, my shares will be worth more. And I will pay no taxes which will surely go up.

Buy shares on sale: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

GOP uses the virus to give their “friends and family” more of our tax dollars

Did they forget the last time: Big and reckless businesses got bailed out, with no one going to jail, while ordinary Americans lost their homes and jobs? The virus is just an excuse. Some on the right are calling it an act of God--the better to justify their support of massive government spending. One White House official said Trump “doesn’t give a [expletive]” about the plan’s impact on the federal debt. “It’s all about the markets and the economy for him. It’s all about the jobs numbers.” Re-election is the prime driver. The Senate Republican plan to send every household $1,200 for each adult and $500 for every child is an inefficient and ineffective way to stabilize the economy. It’s also a cynical ploy by Mob Boss Trump and the GOP to buy the next election. The better strategy is to get money into the hands of cash-strapped businesses that promise to use it to keep workers on their payrolls. A better effort would be to make sure states can pay all the laid off workers who will need the essentials. Unemployment insurance can’t cover the estimated 80 million workers out of a full-time job. The last time we had millions of unemployed we did something about it: we made work for them. We built buildings, schools, dams and bridges. Dams not coal make electricity.

Let’s avoid socialism for the rich: : https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

It took 4 years for the stock market index to recover from 2008 lows

Depending on your portfolio profile, it will take time to recover from this stock market correction. If you use the stock market as your checking or savings account, you will suffer when you sell. If however, you are a long-term investor, just turn your head from the daily gyrations and BUY like Buffett. Last year the stock market gained 31%. The long-term average is still 11%. If you pay your advisor 2% you will have to wait a longer time. If you think of your money in terms of short- and long-term reserves, this correction has no impact on your ultimate goals. John Bogle, founder of Vanguard, said that you can control what you pay for advice not control the market. Giving away 2% of your long-term money will decrease your final accumulation by up to 63%. “Over a 50-year investing lifetime, that little 2 percent fee will erode 63 percent of what you would have had. As Bogle puts it, “the tyranny of compounding costs” is overwhelming.”

Let the ‘Bs’ guide you: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment-advice/dp/1523693045

Who got rich from the last bailout?

Your tax dollars are going to make many rich people richer. During the last bailout crisis, even the foreign banks and profitable firms got money they did not need. None of them said no. This time Boeing, which killed a lot of people from bad management, got BILLIONS of our money. The whole leisure class industry wants $ BILLIONS including The Boss’s hotels, golf resorts, and global properties. Most of those crying for bailouts had large surpluses from huge profits during the last 12-year bull market. They spent it on themselves—buybacks, CEO bonuses, more jets, etc. Remember, many of these firms have paid no taxes for years. Like The Boss, they have used every trick in the book to avoid paying their fair share. An unbiased analysis of this situation would be that America is a socialist country for the rich. We pay subsidies to profitable firms and have been doing so for decades. Subsidies to the elites is what American is all about. Even our Reps use info illegally. Lobbyists tell our Reps what to subsidize in return for election money. Why are we still providing oil, coal and gas subsidies to profitable companies? Trump pays farm/oil/gas companies when the market price falls. He promises agribusiness price guarantees and support payments to keep that group voting for him. The national debt has surged from $20 trillion to $23 trillion since Trump started. He promised to pay it all off. Instead he has made our tax yoke heavier in the future.

Reduce your future tax burden: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

File your taxes for free

TurboTax and other for-profit tax prep firms are due to raise prices soon. If you have your documents, use your favorite software now and file your tax now for refund. The payment, if any, can be in July; the filing should not. Rumors confirmed: filing delayed to July 15. Check your state for deadline. The federal and state filing can cost you nothing at https://apps.irs.gov/app/freeFile/. Another site has no cost or restrictions: https://www.creditkarma.com/tax. And remember you can usually reduce income and thus tax by making a deductible contribution to your IRA. File now for refund: 90 day interest-free extension if you owe. https://www.irs.gov/pub/irs-drop/n-20-18.pdf

Filed already: refund status: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

Save for a long life: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

Mobster whining: "It cost me billions of dollars to be president”

Mob Boss: “I don’t take responsibility at all.”

Mobster: “I’ve always known this is a … pandemic.”

Mob Boss does not care what we learned from the last bailout.

Mobster on malaria drug: “So we’re going to pray from God that it does work.”

Mob Boss: We will give you “more than $1000 check, more later” (after my election)

Mob Boss: media wants to keep businesses closed “so I don’t win” in Nov.

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!

Lobbyists for big business leading Reps around for bailouts: Socialism for the rich

Trump sends medical supplies based on his politics (Nov 3) not medical need. Helps N Korea

Recurrence likely: Trump promises END restrictions in 15 days to get jobs/economy back.

Leisure industry the last to get help: Unemployed, hospitals, food chain, medical workers first

GOP bill “bad news”: “bailing out the biggest corporations.” GOP: stock “futures down 5%”

Doctors nurses plead for medical supplies equipment: 1 mask must last 5 days!

If we are at war, why is Trump taking money for his luxury businesses? Private Jets?

Same companies that binged on buybacks are in line to receive taxpayer-funded bailouts.

Lobbyist make sure their corp get the bailout. Coal co. stops black lung payments?

CEO get bonus for winning special bailout: US bans travel so no flights to use bailouts!

Trump will be “oversight” person: bailout biz friends: ‘fox guarding hen house’

TX using health emergency to force women to have kids they don’t want

TX 2^nd gov would rather seniors die than let Wall Street go down. He has ObamaCare!

Glenn Beck wants older Americans to die to save his show and Wall Street

Who gets our tax money: $2 Trillion is borrowed from our future children/others.

3.3 million file for unemployment comp: 1938 3 million built 10,000 bridges, roads etc

OH gets just $2.1 billion to fight pandemic: Boeing $17 billion to bailout bad managers

SCAMS/SPINS:

One man—John Roberts—a Supreme, will decide whether we have (no preexisting) health care!

4 anti-worker GOP Senators try to kill unemployment funds in the $2 Trillion subsidies law.

These 4 Senators only work 133 days; $174,000 guaranteed: unlimited sick; full health care.

Senators ignore warning: gym & pool use while virus spreads shows stupidity

Why did Congress take vacation at this time of crisis?

What happens if you can’t afford the $250 C-19 test? Retreat to the desert/mountains

Guns and ammo sales up 1,000% in some states: people are scared and may kill you in fear.

Census questionnaire and virus bailout checks are NOT linked: Fake Facebook posts.

Supremes: mental illness not allowed as defense anymore: no one can claim insanity.

Brazil gov tries Trump ‘back to work’ propaganda and it flops

Donald Hunter CT caught fraud promised returns from new Alzheimer drug

Corey Eastman Devon Ortiz Julia Montgomery caught ‘grandparent scam’ on dozens.

Hammed Akande MO caught romance scam $700,000 24 seniors

Todd H. Lahr PA caught running Ponzi promised mining real estate returns

Mychal Kendricks NFL caught insider trading on tips from banker jail time

SEC allows failing funds to borrow money from sources not usually allowed.

Megan Hess Shirley Koch CO caught selling body parts & fake $1,000 cremations.

Brokers prompting buyNhold investors in ETFs to sell out: buying oversold stocks.

Insurers retain huge premium bonus as few accidents near zero claims from C-19.

Alexa recording lawyer/client info as more work at home: We can’t delete later.

E-skimming is type of card fraud: hackers plant code in online store takes your cc inputs.

15 Coronavirus Online Scams to DECLINE

GoodRx posted a statement it planned to stop selling your personal medical information.

Some corona cleaners do work: some don’t: fake claims for cures: jimbakkershow silver

China & S Korea report no new cases: True or False?

President of the USA says everyone back to work by April 12 just to save re-election!

I got Trump’s C-19 postcard telling me to stay out of work at home and no contacts.

Treasury Secretary: 3 million record unemployment claims are “not relevant”: he has job!

Immigrant physicians enlisted by Pentagon for medical skills are stuck taking out trash !

Fauci, virus scientist, says “many more weeks” and has been sent away like other experts.

AZ man dies from cure Trump claimed might work: Trump cure is hydroxychloroquine

More die from TrumpCure chloroquine poisoning around the world

Trump’s friends get tested while those at risk go without test and told to go back to work.

Jobs

NY, IL, NJ State to shut like CA: non-essential workers stay home

Walmart to hire 150,000 for corona surge: bonuses for some. CVS hires 50,000: bonuses.

Which colleges actually are worth the cost: few produce income high enough for costs

Bailout state unemployment funds: filings hit 2.25 million this week: Boeing can wait

Grocery worker coughed on by George Falcone now charged with terrorism!

PA shopper coughs on grocery shelves so market had to discard food: terrorist?

Some store managers are NOT telling employees about those with C-19. So it spreads.

Work from home computer hygiene: keep hackers out of your life line.

Who owns your account now?

Insurers are looking to protect themselves as financial ground cracks: they buy more insurance

CA: Wells Fargo, US Bank, USB, Citi and JPM Chase defer mortgage payments for three months

Family earning over $150,000 does NOT receive bailout money: Rich get better bailouts

Miracle:

How our hands evolved from fish fin! Amazing thing creation!

When we are really alone: survival is being human

Lost sense of smell and taste are peculiar telltale signs of Covid-19: first symptom?

Don’t see sickness in CA: Shelter in place means hunkering down at beach/boardwalks.

Streets are empty: we can walk without dodging cars/SUVs: save gas/no pollution!

States are tracking cells to verify social distancing: Big Brother watches for good or evil?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, March 20, 2020

JPMorgan counting on us buyandhold investors to save them

Turn off your RMD auto-distribution: don’t sell shares now

Those of us with automatic RMD distributions may want to suspend this service temporarily. We have until December 31 each year (unless this is your 1^st year) to take the amount required from qualified accounts in order to pay tax on the gains. Taking your RMD at the bottom of the market will cost you more precious shares than previous years. Don’t LOCK-IN your losses! I put an alarm in my cell to tell me to switch RMD distributions back on in July, Aug, Sept, Oct, Nov or December just in case I forget. We must take our full calculated RMD by December 31. Our past schedule is void. Hopefully the market will regain some of its 25% losses by then. You can do this on Vanguard’s account summary page with the link in right column:
“Required minimum distribution”

Know your RMD rules: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

It took 4 years for the stock market index to recover from 2008 lows

Let the ‘Bs’ guide you: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment-advice/dp/1523693045

Why market timing does NOT work

JPMorgan found that the 40 best days accounted for more than the entire S&P 500 return from 1993–2013. If you miss the best days trying to time the best exit and enter days, you end up with returns just above the inflation rate: 3.79%. Buffett says: “The stock market is a device for transferring money from the impatient to the patient.” We need patience while it is going up and going down. “A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money.” Why? Because no professional has beaten the market return over time. They say they have but they picked two of their lucky days to market their hype. Research: from 1871–2016, the 5 most positive monthly returns in S&P 500 history came in the 1930s as the U.S. came OUT of the Great Depression. Time to BUY: smart money moves to Vanguard.

Stay invested to win: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

JPMorgan counting on us buyandhold investors to save them

Speculators who send stocks down by selling to avoid the lows in a panic like the current one are counting on us long-term investors to bail them out according to JPMorgan. Strategists at the bank reckon there’s a good chance that buy-and-hold managers like pension funds, insurers, sovereign wealth funds and the like are ready to stabilize markets with stock buying in order to rebalance their portfolios away from bonds. Stocks have fallen so much that many institutions will be forced to sell bonds to rebalance their holdings. Some analysts say that rebalancing is not necessary since stocks and bonds eventually rebound to their original ratios in the long term. Rebalancing is actually selling winners before their time. It is a form of market timing. Tortoise not hare wins.

https://www.amazon.com/Dont-Re-balance-Your-Portfolio-Research/dp/1508802386

How teacher 403b plan advisors get paid

Teachers may be losing HALF their potential retirement funds to advisors and plan sponsors. Some 403b plans are actually annuities with excessive fees—2.5% a year plus recordkeeping fees, maintenance fees and contract fees. You might be contributing a great amount of your salary every year—$4,400 a year—but plans are taking $2,000. If you invested in stocks and your account grew to $500,000 by age 66, you would be paying over $12,000 a year for few services. Services would be in the form of a telephone service center, not a live advisor. Even though your school organization is charged by law to provide fiduciary duty (best options for you), they contract it out to an insurer or other “third party.” There are so many ‘mouths’ to feed that you are left with the crumbs. 401k plans at larger organizations are now repaying their workers after many years of overcharging for retirement fund services. Your teacher union may have already started action against your 403b plan administrator. Robbing you blind.

403b robbery: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Who got rich from the last bailout?

Your tax dollars are going to make many rich people richer. During the last bailout crisis, even the foreign banks and profitable firms got money they did not need. None of them said no. This time Boeing, which killed a lot of people from bad management, wants $60 BILLIONS of our money. The whole leisure class industry wants $BILLIONS including The Boss’s hotels, golf resorts, and global properties. Most of those crying for bailouts had large surpluses from huge profits during the last 12-year bull market. They spent it on themselves—buybacks, CEO bonuses, more jets, etc. Remember, many of these firms have paid no taxes for years. Like The Boss, they have used every trick in the book to avoid paying their fair share. An unbiased analysis of this situation would be that America is a socialist country for the rich. We pay subsidies to profitable firms and have been doing so for decades. Subsidies to the elites is what American is all about. Even our Reps use info illegally. Lobbyists tell our Reps what to subsidize in return for election money. Why are we still providing oil, coal and gas subsidies to profitable companies? Trump pays oil/gas companies when the oil/gas market price falls. He promises agribusiness price guarantees and support payments to keep that group voting for him. The national debt has surged from $20 trillion to $23 trillion since Trump started. He promised to pay it all off.

We keep paying: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

File your taxes for free

Filed already: refund status: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

Save for a long life: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

Mob Boss: “I don’t take responsibility at all.” ‘I quit’

Mob Boss and his lieutenants have not been tested since it is a hoax

Mobster’s mob will test everyone else but the Boss and VP

Mobster: “The markets are going to be just fine, just fine.”

Mobster’s hotels/clubs get $650/night/SecretService guards

Mobster to hide bad news on jobs: re-election in view

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!

Opioid lawsuit lawyers to get over $3 BILLION: Prosecutors get vote $. Victims get __?

Anti-robocall law signed but no effect: still 4.7 Billion calls in Jan. Doubled since 2017.

Pelosi passes free screening, unemployment funds, some leave, some food, T cuts food stamps

States told to buy their own corona supplies but Trump out bids them for stockpiling use later.

His ‘Hoax’ proves His Wall is not worth the money: businesses still hire undocumented

Vaccine trials begin but takes a year to know if it works: How virus spreads to each age.

Do you have lobbyist to get you a bailout too? Airlines, casinos, ships, surplus spent ‘18

McConnell’s bailout to his ‘friends and family’: "industries of national importance" Socialism

Congress persons use insider info to sell their stocks before we knew corona pandemic. Felony!

SCAMS/SPINS:

The ‘Hoax’ is NOT going away as predicted: Science can help if The Boss forgets self.

Trump: My Wall will protect US from coronavirus: except sick who already fly here

“Someone else” fired the national security team for pandemics. “Nasty questions?”

Navy hospital ship not available for emergency: being painted.

GOP asking sitting judges to retire so The Boss can install his kind of ‘justice.’

GOP hinders changes in voting measures to block more Dems casting votes.

IRS borrows to cover delay in tax payments and Boeing etc bailouts. We pay interest bill!

Congress gives virus mask makers protection from suits if masks are junk. We lose

GOP conspiracy Jones pushing his products to treat corona: propaganda of worst kind.

Politicians, foreign and domestic, using pandemic to move public fears!

US leadership reached its bottom with corona: Just propaganda game to them.

You can be murdered in your bed by police: ‘The Public’ reported guns in house!

Gun and ammo sales surge in US with coronavirus fears. ‘Better safe than sorry’?

New hack strategy: I got an email from vendor with link to special document: FAKE

William & Katherine Alverson Healthient caught fraud to shareholders shares $4 mil

Denis Sotnikov FL caught selling $26 million fictitious high-rate CDs.

Christopher McClure CT caught selling bad paper with undisclosed fees

Stephen Peters VisionQuest caught $10 million ponzi loan notes fraud

Banks claim to help victims IF you can find branch that’s open: Still 24% interest charge

Wall Street Pros are panicking for qtr bonus: smart money moves to Vanguard to buy.

Ventilators too expensive for hospitals: we suffer

Avoid Alzheimer’s: study shows curiosity and an aversion to conformity keeps brain fit.

Health care sharing ministries policies cost this person $40,000: Saved by ObamaCare.

Hand sanitizer kills girlfriend in deadly fire.

911 calls to police for toilet paper: OR police complain of calls—use salt-water sponge!

Corona in 5 days: from exposure to symptoms takes about 5 days on average.

MSC Meraviglia Miami passengers flew home: no one tested before spreading to country

Keep track of all the FAKE virus info: eg: blacks NOT immune to virus; test NOT costly

Kushner and brother CEO Oscar Health directing victims to Oscar’s own facilities.

Evangelicals’ Dead Sea Scrolls are fakes: $ millions spent--faith was not enough. Like Lost Ark

Jobs

An estimated 200,000 nursing positions to go unfilled at hospitals across the country.

Shortage of priests in time of need

Amazon needs 100,000: corona self-quarantine drives online orders and takeout.

Doctors sleep in basements garages to protect their families. Hospitals full.

Who owns your account now?

REFI time? Fed rate 0% means lenders can earn all you pay on your money! WOW

3 states re-open ObamaCare for needy

Retailers forced to give sick leave: do you go to work sick for pay or lose job?

Miracle:

National Emergency: Are there enough test kits? Where to get tested if symptoms?

Out of blood? The “Hoax” causing shortage: BYOB bring your own? We can’t make it.

60,000 out of 80,000 people have recovered already from the coronavirus: most in 2 wks

CA man provides toilet paper to those in need from those who share: Hoarders note!

All NBA teams get tested but those with symptoms do not get a test: class system?

Vaccine discovery from stem cell research nixed by Pence: fear of election loss too great!

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, March 13, 2020

How quickly can your account rebound from this correction?

Depending on how much of your portfolio (401k, 403b, brokerage, IRA, Roth IRA, etc) is in stock assets, you could be down 7% or more. A 500 Index fund is still up 8% over a full year while the Vanguard Wellesley Income fund (60% bonds) is up over 9% over 1 year. Your broad diversified asset account may take less than 6 months to get back on track. This is exactly why you invest in different types of assets. You don’t suffer big losses or big gains from any one shock. Over time, stocks produce better returns than bonds or cash or gold or e-bits. If you consider stock investing as gambling, you may have to wait a long time to hit another jackpot. If you consider stocks the safest investment you can make over time, you won’t have to do a thing. If you played your last chip in February, you must now double your bet to get back even. If your stock fund represents your ownership of many businesses, most will keep working through any panic. Buffett: I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Set-Forget/dp/1484822900

How can you determine how much your advisor gets paid?

Since there is no industry standard or database for commissions, fees, retainers, kickbacks or other forms of payment, you will never know exactly what your salesperson actually earns. They could create a loss in your account and still charge you $3,000 a year. Recently, one of the sources of information was partially closed. The CFP Board told financial planners that the compensation information was “not very specific or helpful to consumers” and that the best way for consumers to select an advisor is “to have a conversation with their prospective advisor.” But we can’t interview 10 prospects without knowing something about how they charge. “We’re trying for more transparency as an industry, and this is less transparent.” The CFP Board’s consumer website, LetsMakeAPlan.org, is part of a public awareness campaign. Some advisors think the group may have caved in to the whims of the brokerage industry, many of whose advisors also carry a CFP designation. The Board was criticized for not properly disclosing things like customer complaints and criminal or regulatory problems for thousands of CFP designation holders on its consumer website. It took me a long time to find an advisor that charged only a fee for a financial plan/advice for a client. Most charge 1-2% annually of your balances plus fees for packaged products like annuities. It’s your money.

Buy unbiased advice: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

How much government do we want?

Elections are about choices: what to do with our tax money? If you believe social benefit programs are needed to help people you vote Dems in. If you believe corporate and wealth benefit programs are needed to help business and the asset class you vote GOP. Socialism: Trump is now helping some businesses and not others. Welfare for the rich or welfare for the poor, both have succeeded in driving up our public debt and the size of government. Subsidies to the elites and to the needy have never been contracted only expanded. Why are we still providing oil, coal and gas subsidies to profitable companies? Trump pays oil/gas companies when the oil/gas market price falls. We don’t get a bailout for our fuel oil/gas bills. Why have we allowed corporations to pay such low wages (same as 1973) that full time employees must beg for food stamps to survive? Why doesn’t government protect us from unwanted robo calls, opioid drugs and nicotine e-cigarettes? We allow the wealthy to avoid taxation through expensive tricks we can’t afford. When will everyone pay their fair share for their subsidies? Only now is Washington State repealing Boeing’s subsidies. Why is a ‘capitalist’ system paying profitable companies socialist subsidies? Give bailout to taxpayers!

Pay your fair share: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

SEC lawyers create more obscure annuity ‘disclosure’ form

The new “reader friendly” variable annuities summary prospectus and rules were supposed to improve investors’ understanding of the complex contracts but actually prove the need for real-ife testing. This charade “illustrates why we shouldn’t leave the job of developing disclosures to securities attorneys. The model they developed based on the proposal is 16 pages of small type and legalese,” CFA Director Roper said. “Had they bothered to test it, I am confident that they would have learned that much work was needed to make these documents both more readable and more visually appealing. But they weren’t willing to do that, perhaps because they didn’t want to hear what investor testing would have told them about the need to go back to the drawing board." Insurers were thrilled with the way SEC lawyers can obscure the tricks insurers use to make sure an ordinary person could never understand how their annuities work.

Insurers can never lose money: https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

File your taxes for free

TurboTax and other for-profit tax prep firms are due to raise prices soon. If you have your documents, use your favorite software now and pay your tax due on April 15. The payment, if any, can be in April; the filing should not. The federal and state can cost you nothing at https://apps.irs.gov/app/freeFile/. Another site has no cost or restrictions: https://www.creditkarma.com/tax. And remember you can usually reduce income and thus tax by making a deductible contribution to your IRA.

Filed already: refund status: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

Save for a long life: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

Mob Boss: 'Oh, we'll be cutting' [SS & Medicare] entitlements

Mob Boss: my employees see “I have natural ability” in medical expertise.

Mob Boss using Supremes to overturn centuries-old law

Mob Boss lowers his taxes by paying bribes

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have!

This is how the GOP plans to stay in power? Is 6 hour wait enough to forsake democracy

Supremes under thumb of Mobster eliminate Congress power to govern

Mobster distracts us with promise (bribe) of tax cut to ease panic Pence assurances fail.