Give your child a leg up
Investing is about TIME: starting early can create a tax-free $1 million Wealth Reserve for your child’s security. Yes there are self-made millionaires but the real money is in family legacies over time. Think Rockefeller family. Most of us don’t learn about the Time Value of Money until it is too late. $100 per month in a tax-free account is worth over $1.6 million after inflation in 65 years. How can $78,000, invested over time produce $ millions? When you invest for your child, you are loaning profitable corporations your money. They share the profits as dividends and increases in value over time. “Over Time” is the critical part. Because we can’t predict the next Apple to invest in, we invest in many large profitable companies. Over time, studies show a low cost index mutual fund provides growth of 11% a year. Why “low-cost” is important? Using a middle person can rob us of 2% per year in growth. The myth of Wall Street is that we need middle people to make successful investments. We now know that means we give up 63% of possible accumulation with no guarantee Wall Street will make us successful. Give your child a leg up—start your family legacy today while stocks are down (on sale)
Create a legacy: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355
What are your biggest investing mistakes?
No matter how much money you have saved/invested, your mistakes could be the same as those of the wealthy. In a recent survey, they said they did not seek guidance and looked at historical returns. In the past, they said they did not diversify their portfolio and did not have a financial plan. It is very true that times change, but the basic capitalist world still exists. Stocks still earn more than bank CDs, especially in a crisis. The Harvard endowment, valued at $41.9 billion, returned 7.3% in the last fiscal year. You are still better off with a diversified stock/bond portfolio than a money market account. What does Warren Buffett advise? His advice is NOT biased by fees, commissions, kickbacks, broker vacation trips, prizes, packaged-product bonuses, etc.
https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963
GOP’s idea of socialism
Our Federal Reserve, our central bank, is buying trillions of assets to keep wealthy investors wealthy and struggling firms alive. We will be paying the interest for our lifetimes while the investors and managers will be taking the gains. This is the essence of socialism: Private gain, public loss. The Fed has propped up the prices of corporate and municipal bonds, and bailed out “airline bondholders.” According to conservative George Will, “the pandemic has propelled government toward promiscuously picking economic winners and losers. Instead of giving 3.7 Trillion to the rich, we could have fixed our crumbling bridges and saved $ millions in unemployment comp. Meanwhile our ‘leaders’ ignore 30 million who are out of work. And execs of big companies give themselves $ million bonuses while screwing workers, suppliers and investors with bankruptcy. Private gain; public loss: profiting from their own mismanagement crimes, the American way!
Socialism for the rich: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Make your retirement nest egg tax-FREE
Because the wealthy have many ways to avoid paying their fair share of taxes, we will have to carry double the burden for the rest of our lives. Exhibit 1: Trump paid $750—paying more to China, Panama, India, Philipines, etc than to US. Not only do the wealthy avoid paying taxes, the corporations they own have paid $0 taxes for many years. So are there any LEGAL accounts we can use to avoid taxes, especially during our more vulnerable years in retirement? We can’t live on Social Security benefits alone so we need to make our savings and pensions worth more—FREE of tax obligations. There is still a way for us to avoid having to pay off the federal debt ourselves. We will have an extra 20-25% in retirement income when we need it. This legal saving and investment account costs little: free of lawyers, accountants and money manager fees. We don’t have to go offshore, use fake empty shell entities, or play accounting tricks to have more income later. The account is approved by the IRS so we don’t have to fear an audit.
Make your income tax-FREE: https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072
How can we beat the Wall Street “professional” players?
We don’t have super computers, talented analysts, large
leverage or fast traders. We only have the facts of investing like Billy Beane
did in baseball. He knew he could not afford the famous “professionals” so he
listened to a man who knew the facts about how wins happen. He learned that
steady slow growth won over a long season. His “expert” scouts quit—his coach did
not use his picks. We can win. First, we acknowledge that we have no budget for
investing. We can't afford the hedge funds, offshore tax shelters, and
expensive Wall Street money managers taking 2-3% a year. We use the strategy of
the long-term master, Warren Buffett: We beat the famous over-paid Wall Street
stars.
https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409
Why it is so hard to save for retirement
We don’t make enough money. Since 1980, worker wages have lagged productivity increases. Businesses have found ways to increase their gains while paying less for labor. Since 1979, productivity has increased 69%, while wages have increased 11.6%. Before 1979 wages increased with productivity after WWII. The middle class especially skilled blue collar work in factories paid well enough to buy a home, have children and save for retirement. The American Dream was realized for unionized white skilled labor. More modern and efficient business processes changed all that. Many middle class families had to start working more hours and enlisting both husband and wife for the same real income level. Education replaced skilled labor as the business management became sophisticated. For instance, in the 1980s I had to type my own reports, answer my own telephone, automate information systems and do my own budgets. The “good old boy” salesmen were out and modern statistical marketing was in. In 1976, the new American retirement system was born. It got better in 1997. It can provide tax-FREE income.
Start now: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
Why child life insurance is NEVER a good deal
Most of us have received a flyer in our junk mail, Sunday
paper or online
adverts for child life insurance. The selling “hook” as they call it is
simple: buy life insurance now while your child or grandchild is healthy or
young. It’s cheap and no tests. When my parents were first time parents, this
kind of insurance was purchased as a substitute for saving/investing too. This
type of policy grew out of the time in our history when many kids died.
Families were larger because farmers needed a lot of free manual labor.
Unfortunately, the pitch still works for some insurers and they are making a ‘killing.’
One company in
https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/
Is a deductible IRA contribution right for you?
The rules changed for 2020: IRA contributions after
age 70½ are permissible.
The SECURE Act
repealed the age restriction for Traditional IRA contribution eligibility.
Effective for 2020 and later taxable years, individuals with earned income can make
Traditional IRA contributions at any age, not just for years before
reaching age 70½.
For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs if you have earned income. If you had self-employment income or W-2, that income qualifies. If your spouse had income and you did not, that qualifies too with some limits depending on participation in a retirement plan. Spousal IRAs: If you file a joint return, you may be able to contribute to an IRA even if you didn’t have taxable compensation as long as your spouse did. Each spouse can make a contribution up to the current limit; however, the total of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the Kay Bailey Hutchison Spousal IRA Limit in Publication 590-A. If neither spouse participated in a retirement plan at work, all of your contributions will be deductible. The annual contribution limit for 2020 is $6,000 or $7,000 if you're age 50 or older. For many of my tax clients, this means they can reduce their income and thus their taxes for 2020 due April 15, 2021.
Alternative tax-FREE IRA: https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253
**********ACCOUNTABILITY**************
Like 1776, this
period is a test
of democracy—do we really want a Dictator?
Supremes
decide election … again?
Dictator: “It’s going away.”
Dictator’s chief: “It’s
out of control:” 230,000+
dead
Dictator: F*ck Obama: “It’s
America’s last climate sanctuary.”
Dictator: “I
am the only one who can make America truly great again.”
Trump wins: have mail
delayed and have Supremes
void all votes received after Nov 3!
How Govt wastes our money: Our
Representatives gave 3.7 Trillion to the wealthy!
TX using armed troops to intimidate Dem voters in 5 cities
Movie moguls ask Congress for bailout too
Trump biz soaking US $ millions for his $3 glasses of water, bed, snacks, guests, friends
We pay $375 million for virus antibody: $1,500 ea and don’t even know if it works yet
TrumpWall maintenance costs TRIPLED: military suffers; no bid vendor is T’s donor
SCAMS/SPINS:
Why
no Americans are concerned about facts: trust comes from integrity
Even with a job, we
are worse off now than in 2008 recession; more folks tap savings.
Can Republican Party
survive the election: party
with only Trumpism as its principle
HALF
the 2016 total already voted: crisis: will GOP Supremes make Trump president?
Federal crime to delay
mail: why is Postmaster not in jail? Trump’s
Supremes stop count
GOP
5-3 Supremes back WI GOP cut in vote counting due to Trump’s mail delays
GOP 5-3
Supremes back AL GOP ban on disabled curbside voting law: vote or die?
GOP
has been packing state Supreme
courts for years: MS abortion ban decided
Jared’s plan for
Blacks: “they
have to want to be successful”: like my
pa’s $billion legacy
Social
media scams to change our attitudes: “fake tweets are extremely easy to
produce”
Trump delivers
health plan to 60 minutes:
thousands of exec orders, proposals NOT plan
Immigrants
help economy/community: Trump wrong on immigrants’ behavior
Domestic
terrorists buying now: 20-fold jump in sales like $220 gas mask, AR15s, etc
15 million
more guns 2020: suburbs fear domestic terrorists; teens
with AR15s; Walmart
Recession
is over for high-wage workers: just starting for 30 million “essential”
workers
Trump to cut
12,000 “best brightest from around world” visa doctors treating virus, etc
Trump
Kodak loan scam: Jared’s bud gets exec order to use our money for bonus
deal.
Carrier given $7
million to keep jobs here: 17
more IN firms have sent jobs overseas.
Foxconn’s $10
billion WI plan create 13,000 jobs: actual
520 people only $300 million
Trump’s SEC will NOT
safeguard investors from risky funds: leverage can double losses
Kanye West was inspired
by God to be the "leader of the free world": Trumper’s alert
Trump’s
own religious cult grows without masks: “patriot” churches blaspheme God?
Trump’s
new show: “I’m The Apprentice” –You are fired!
Electric
cars can catch fire: each maker has problems
Accidents by Teslas
still driver’s fault: “No
vehicle is capable of driving itself” anywhere
Tesla
recalls ‘13-’18 S, X 30,000: suspension connecting rods may break
Best
scams for this time of year: know your situation and how scams work
Scam with fake
Barclay phone number: enter number in https://whocallsme.com/
Low VA Rates caught
misleading, false info in mortgage offers to Vets: fine no jail
Trump
building scam costs investors $270 million: forgiven debt usually taxable but not T’s
How
Trump avoids taxes we have to pay: detailed analysis
Trinity Healthshare caught
misleading of “full” coverage; many contracts NOT insurance
Facebook
Twitter scam adverts blossom: no vetting; anyone can scam
Anthony Robinson caught
scam accidents with big rigs for insurance: lawyers doctors too
7 guys caught
in “pump ‘n’ dump” microcap stock cold call: no jail, no fine, letter to
stop
Homeowners beware:
some insurers
using unlicensed adjusters to cut expenses: oversight
Home
warrantees: costs may exceed benefits since you can’t know lawyer caveats
Is it a scam? Check AARP scamline 877.908.3360.
Check
IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams
https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers
Check Social
Security: https://blog.ssa.gov/
Safeguard data:
ConsumerReports help: https://securityplanner.consumerreports.org/
Jobs
Need infrastructure
jobs program: 10.7
million jobs short of pre-pandemic level.
Thinking of starting
SS benefits? Check
rules on losing benefits while working
2021’s
top 10 best-value colleges and universities: cost is a factor
Claim
ALL your unemployment benefits: each state has rules, process, forms, etc
College
application process tips: save fees, testing, virus alternative 1st
year
Who owns your account now?
Hospitals that deliver superior patient outcomes within 16 service lines by state
Claim your benefits from old insurance/annuity left by relative: $ may be tax free
Business-interruption lawsuit payout just approved by NC judge: most suits denied
Miracles:
14 year old Indian-American
discovered new potential therapy for Covid
GOP
6-3 Supremes primed to reverse US back to 1950s: abortions
illegal, dirty air, no wildlife
reserves, no voting rights, 0 immigrants, no
health care, red-lining
housing, no interracial couples, Trump
self-pardon, cancel IRS audit, no
gays, discriminate
by religion, decide our elections,
dismiss suit Trump
as rapist, etc
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/
IAN
41 Watchung Plaza,
B242
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
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