Are your 401k 403b plan costs fair?
It is your money and
you are trusting in your employer to handle your cash well. More employers
are being sued because their plan costs too much, is run poorly, or has no unbiased
educational component. Over time, “that little 2 percent fee will erode 63
percent of what you would have had.” Some plans provide benefits to your
employer hidden from you. For instance, Wells
Fargo was caught charging employees more for Fargo stock than was available
from the market. Some plans are so expensive; your
nest egg is not growing as fast as it could be. And some plans offer biased
information about investment options that favor the boss’s investment advisors.
Kickbacks
are common. The best plans don’t cost a lot, provide fair options and
provide fiduciary compliant help to you not your employer. Some large mutual
fund complexes offer small employers the tools to establish a great plan. If your
employer is matching your contributions, that’s great. If there is no match,
you can do better on your own. Use a long-term tax-FREE account so that every
dollar you invest works for you not your employer or their (employers chose the
plan investment advisors and administrator). They take their cut BEFORE gains
get to your account. Usually they do not disclose the amount it costs you.
https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966
How our representatives get rich using our insider information
Congress folks, who are supposed to do right by us, take
advantage of secret meetings and information only they have to get and stay
rich. They
are above the law that makes insider information a crime if we do it. Martha
Stewart went to prison for it. Congress gets more money for doing it. 97
lawmakers or their family members bought or sold financial assets over a
three-year span in industries that could be affected by their legislative
committee work. The most recent case: Sen.
Richard Burr, R-N.C., told his broker to sell off more than a million
dollars in stock because Covid would tank the markets. Burr called his brother-in-law,
Gerald Fauth, who then sold off almost $160,000 in stock. Yes, you can work
hard to pay Burr’s salary but you will never get this kind of deal. Congress
makes the rule that allows them to trade on insider info but also the law that
says you can’t. Getting
rich the insider way, in Congress has been a long-time tradition since
1776. However ‘leading
by moral corruption’ should not be the way of Congress people. And we have
to pay their salary and Burr’s gains from our market losses. Just like in
https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
Study shows we don’t
like inflation or market volatility
Gen Xers resist the
idea of using a financial advisor. Forty-six percent of these investors said
they prefer to have full control over their investment decisions, and 41%
did not trust that financial advisors have their best interest in mind. Advisors
do have a conflict of interest. Living off an annual fee of 1-2% plus taxes
caused by frequent trading, advisors have a difficult time explaining why you
pay fees on falling account balances. Despite the caution that you can lose
money in any market, we don’t keep our eyes on the long-term rise in equity
prices and dividends. It is hard to remember the trend
of assets over time as show in this chart from Dalbar. Low-cost stock index
funds reflect the fact that equities return over 11% per year on average. As
one analyst said: for long-term investors this
is certainly the time to accumulate.” Money management can take up to 63
percent of what you would have had. As Vanguard founder John Bogle puts it,
“the tyranny of compounding costs” is overwhelming. Advisors take our money. The
Dalbar data show that the
average investor keeps only 3.79% after fees, trading, market timing
errors.
Buy stocks not advisors. https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957
What kinds of fees do you pay to your advisors?
You may be paying an annual percentage fee. If your account is $500,000, you pay 1-2% ($10,000) a year, taken quarterly. Advisor says: ‘There is no front-end charge or back-end load that needs to be amortized. You have flexibility.’ In other words you can trade to your heart’s content even though that creates taxes for you. You may like to have fees spelled out in advance. Securities have commissions and some have mark ups or spreads or ‘hair cuts’. Over time, “that little 2 percent fee will erode 63 percent of what you would have had.” You are paying retail not wholesale so you may never know how much your transactions cost. Brokerage firms charge ATM fees and advisors say your 1-2% annual fee is less than your ATM single transaction fee. Advisors claim your 1-2% annual fee covers all the no cost advice you receive all year. However, if you call for advice too often, you will find the advisor will stop returning your calls. They may give your account to another person. Every firm has their own charge schedule so always ask for the cost before you consult your advisor. Your alternative is to use low-cost leader Vanguard, whose funds are owned by its investors—no private owner.
Buffett endorses Vanguard: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
Your alternative to life insurance
Most folks want to leave something to their family: a legacy. Life insurance pays a benefit to beneficiaries at death. Life insurance for most families is necessary during formative years. It provides income to family left penniless if the breadwinner dies suddenly. However, times change and fewer single breadwinners die young. Today term insurance may be provided by your employer. Today, many families have two working adults. Many have mutual fund retirement plans from employers. Even if your employer does not offer a retirement plan, you can create your own. Your mutual funds or brokerage account can pass to your beneficiaries just like life insurance. Unlike insurance, you don’t have to die to redirect your money for emergencies. Since Social Security does not cover everything in retirement, you may need your ‘legacy’ money to live on. Like life insurance, your legacy can go to heirs without going through a will’s probate process. Your family may collect in lump sum within a month or they can use an annuity-type monthly payment. You decide how to spend your money to the end.
Tax-deferred or tax-FREE: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
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
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'
Jan 2025 Dictator
pardons himself
How Govt wastes our money:
FL judge says Trump
case against Hillary: “such
pleadings waste judicial resources”
GOP
leaders to pick electors not voters: GOP to outlaw state courts district
decisions
Christian
nationalism: TX judge
cuts employer-sponsored insurance for preventions
Trump’s
master can kill stolen-secrets investigation: “special rules” bec powerful
person
Trump
got Barr to fire Fed prosecutor Berman: eliminates threat to 2020
reelection
Trump
may have already sold/traded top secrets he stole: 20 months to make
a deal.
TX
Attorney General sued for prosecuting anyone assisting choice folks
97 lawmakers/family traded
assets on info affected by their legislative committee work.
IRS
program to capture hidden wealthy taxes of $6.5 billion squashed by
Congress
IRS
is refunding a staggering $1.2 billion in late filing fees: your share of debt $145,191
Navy still claims UFO
videos not available bec “national security”: our spaceship secret?
SCAMS/SPINS:
Police
chiefs now claim never signed up for terrorist group: “friend signed” him
up
17
Trump lawyers now subject to ethics violations: no pay and possibly
disbarred
Eric Trump: “nobody has
done more for Christianity” freedom: Let’s tell Jesus
Politicians destroying Jesus message for voter attention: versions
of hate not love
POLL: 31% believe U.S.
could be invaded by a foreign power in the next decade.
Giuliani: September
11, 2001 being the “greatest day” of his life. Defending Trump 2nd
"constitutional sheriffs" are taking sides: Trump’s ‘Big
lie’ spread by public officials
CA sheriff gives you a gun for donation: donors
trade money for LA packing license
Another
Trump terrorist goes to jail for a couple of months: Robert Keith Packer
30+
Trumpists behind failed coup got subpoenas this week: “quiet period” starts
soon
Trump
apologist explains the crimes Trump committed … so far: selling gov secrets
NY
prosecutor may go after Trump’s family to resolve fraud charges: like mob
cases
Instagram caught
failing to protect children’s data: fine by
Navient caught
failed to steer teachers with student loans to loan-forgiveness programs.
Scott Adam Brander caught
cherry picking trades give clients losers; fine, no jail
Marc Frankel CA caught
with stolen funds for personal expenses: discretionary rights
Ambassador Advisors caught
breaching fiduciary duties: receipt of 12b-1 fee revenue.
SCAM: thieves
use your Facebook info to get your friends to fall for ‘government grant’
SCAM: gas prices down 25%: did
Exxon, Saudis, find oil?
SCAM: some nursing homes charge
people who signed admissions: it’s not your debt
Scams are showing up at the top of online searches: never
click the link: go directly
SCAM: fraud
alert from your bank about unusual activity: call from ‘bank’: use Zelle.
SCAM: avoid being gouged
when you’re most vulnerable: a funeral of loved one
Wells Fargo caught
overcharging employee plan for company stock. Fine, no jail
Avoid
overpaying for senior dental care: Medicare alternatives
IRS letter: don’t
ignore; read and respond: IRS doesn’t call or text so hacker?
BEWARE: Auto-drive
cars & AI systems are trained by biased whites blind to non white
Two
Rape
victim gets prison sentence for fighting and killing her rapist: $150K
to rapist estate
GOP
to make women’s choice a national crime: national ban on women’s health
clinics
Jobs
10
jobs recovered from pandemic
FL school children getting lessons in Ooh Ra language: Florida
turns to military veterans
King
hides out in a Transylvanian cottage: fixer upper bought ’98; Camilla
secret meet
Good
jobs that don’t require a college degree: fly, manage, meet, talk
Avoiding
the job scams that have robbed us of $68 million YTD
Who owns your account now?
Cruise ship experience vs expectations: BEWARE, you need many dollars for fantasy.
Best prepaid
phone plans: $10 a month, $120 year,
Social Security cost-of-living adjustment, or COLA, for 2023 could be 8.7%,
IBM purchased annuities to transfer a total of $16 billion in U.S. pensions
Can’t read your car’s manual: Stellantis owns Chrysler, Fiat, Jeep, Ram, Peugeot, Citroën
Miracles:
Galleri
blood test finds cancers; could detect
pancreatic, colorectal cancers 50
more
British
monarchy’s reign over the colonies may end with new sovereign: change
More states have exempting
military retirement pay from state income tax liability
Jurassic
dinosaur fossil will go up for auction in Paris: buy $½ million plus
A kindness list: small
random acts of kindness keep us sane and human
Some Nuns
and Bishops Are Taking on the U.S.'s Biggest Gunmaker.
Insurers
force change on police departments long resistant to it: killing is
expensive
Special benefits
during Covid helped lower
child poverty rate to 5.2% lowest on record.
Wow victim must pay
attacker estate $150K: folks
donated $400,000 to help her out
CA
condor is back from near extinction: 130 year return program
@
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!
There is no TIME at this
level because of force fields come and go in all directions.
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
“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.
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
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
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