Avoid extra fees when you move your 401k or 403b

 

What should your retirement plan include?

My readers have told me what they covered in their plan. Most did a plan by themselves with help from resources available online. Some hired a financial planner to do a written projection of their anticipated income and expenses. This required pulling together all the documents about their financial assets, projected pension, SS benefits, and expenses. First, they discussed where they would live and the costs. Second, providing 2 budgets—one for the couple and one for the survivor. Third, they identified where emergency funds would come from. Fourth, they decided how much market volatility they could stand and how long their money would last. Some used a calculator to estimate their probability of having enough for 30 years of income given a 50-50 equity/fixed split and normal inflation effects. Fifth, they considered the costs/benefits of a long-term health care policy for both—single and joint coverage. Generally, they overestimate market volatility and thus reduce equity exposure early. This leads to a shortfall as folks usually live longer than their parents. You can’t live—really live—without a plan.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

 

This is how the rich evade paying taxes so we go farther in national debt

Tax lawyers are not cheap but a $1 million fee is nothing compared with saving them $200 million. The IRS has no auditors smart enough to crack the lawyers’ techniques of hiding wealthy money in the foreigners’ accounts they use. Yachts are great for hiding  expensive art and gold since IRS does not seize them in foreign waters. Rich people have a lot of clout in society so prosecutors and judges need a perfect case before setting up a trial. Also witnesses get afraid and evidence gets lost. Sounds just like a mob case. Few of the smart lawyers go to jail and the rich folks like Mr Smith just make a deal with the IRS to pay 50 cents on the dollar owed. They don’t give up their money or go to jail: “Too big to fail” just like their corporate interests. The lawyer motto is ‘delay delay delay’ since the circumstances, prosecutors and presidents change. Will justice ever come for us lowly taxpayers stuck with the bulging national debt? We have one alternative: a working person’s tax haven. This account, §408A was created by the IRS so that working people could have tax-FREE retirement income. It is available through any financial institution and operates like a ‘tax haven’ without the expense of an overseas trust.

https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

 

Workers getting paid less need help

This survey asked workers what they need to succeed. Schools and employers should help workers learn financial basics: savings, debt, interest and investment. Too often we get deep in debt with our first job. Unless parents have learned the hard knocks of debt control and investing, young people never get the basics right. Many have no checking account to budget for their expenses. Few learn of the incentives to invest and compound their earnings over time. If their wages remain stagnant, there is no way to save after food, rent, and transport are paid. Subsidies for those in crisis are not easily acquired. Health care is considered a luxury in America: get sick or hurt in accident and most of us are on our own. Health care is a for-profit industry not a service to help the unlucky. The industry that can help with money matters is also a for-profit one that relies on us paying life-long commissions and charges. The lack of a living wage for the average middle-class family has condemned the bottom 80% wage-earners to a life-long struggle. Since the 1970s, the bulk of profits in American corporations has gone to senior management. Most of the wealthy have found ways to avoid paying their fair share of taxes to maintain a healthy society. Our Reps pay subsidies to companies to keep them from moving.

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

 

Avoid extra fees when you move your 401k or 403b

Many retirees have been tricked into rolling their employer plan into a high-fee IRA. Retirees avoid a huge tax bill when they trustee-trustee transfer not receive/rollover their qualified employer plan account into an IRA. Few employers provide the correct information about moving your account when you retire. Some employers may feel they can’t provide the information because of the liability if you make a mistake. Pre-retirees may be told to go to a financial advisor for help. The problem is that advisors are not unbiased info givers. They make money handling your money and they are not going to give you the best way to move your valuable nest egg. In many situations, advisors stand to make $hundreds of thousands by establishing your account in a certain way. The IRA offered by their firm may have high annual fees and the firm will add more fees depending on the types of assets your advisor puts your money into. Thus your annual account costs in your old plan might have been 0.50% and your new costs might be 2% all in. Over the 30 or so years in retirement you may be giving away $380,000 ($464,000 from 2% net earnings vs $844,000 from 4% earnings). The best way is to have the trustee at a low-cost mutual fund do the transfer directly. Avoid the middle-person markup.

https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Are single-stock ETF offers right for you?

“So I think we’re gonna see ETF issuers blanket the market with all varieties of these ETFs: leverage, inverse, options overlays, you name it.” At least 85 more such ETFs are currently planned, according to filings tracked by Bloomberg, covering some 37 companies. There will be more high-cost (1.15%) products. With a never-ending fee war taking costs on index-tracking ETFs to rock-bottom levels, the arrival of single-stock products opens up a lucrative avenue for issuers, with leveraged or inverse trades tracking major companies up for grabs. Most investors will not understand what goes into their ‘gobbledygook’ security. The regulator’s concern is greater risk for investors and the markets. “Investors’ returns over a longer period of time might be significantly lower than they would expect based on the performance of the underlying stock.” Complex products need to be reviewed by the SEC before their use becomes common for retail sales. Investors who wish to risk leverage can do so on their own now at less cost.

https://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

 

 

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

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 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 “detached from reality”

 

Trump used mafia 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

 

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

How Govt wastes our money:

Congress to vote on banning WMD weapons of mass destruction: kill 30 with one spray

Texas sues Biden for requiring abortions in medical emergencies: TX lets moms die?

Fed govt does not recognize unborn ‘child’ as child: need birth certificate for tax credits

 

Will any of the J6 coup instigators ever get tried and go to jail? Rich have all the lawyers

Felon 2024? Trump responsible for deaths in J6 riot: is it manslaughter or free speech?

Will Biden Justice Dept fail to use J6 testimony to indict GOP head: Trump walks?

Secret Service: ‘missing’ Jan. 6 texts are our ‘secret’ acts: ‘deep state’ defies Congress?

 

20 states deny student choice of gender ID: state will tell you what sport you can play

Congress gives $52 billion subsidies/tax credits to technology industry: already wealthy

Biden tested positive for Covid-19: Saudi prince gives Biden more than bad press

 

SCAMS/SPINS:

War weapon bullets are meant to destroy kids, families, lives: fun to shoot 30 rnds/min

If everyone has a gun: fight turns into shooting at CA bowling alley: 1 dead, 2 shot

Good gun in mall saves shoppers: proves handgun can’t outdraw war weapon: 3 dead 

 

SCAM: text from your bank warning of fraud is beginning of scam. Call them first.

Equitable Financial Life caught misleading teachers on 403b fee statements: fine no jail

Regulators caution Deferred Income Annuities: pay now; income comes later: inflation?

 

Forget jellyfish drug, improve memory with these proven methods: costs nothing

Recall: Skittles contain known toxin, unfit for human consumption, lawsuit claims

Website legit? Check it for history of bad guys: https://check.getsafeonline.org/

Men are more likely than women to respond to scams offering fake info survey says

SCAM: ‘voter verification project’ “We're working off city voter list” 2 guys at the door 

SCAM: IRS does NOT text with links, asking you to verify bit of personal information.

Value of the federal minimum wage has reached its lowest point in 66 years. High 1968

 

$80,000 Tesla was stolen with a $20 device: hackers know how digital ‘key’ works

Disney Raising Prices on ESPN streaming service: all will follow?

Corporate CEOs gave themselves an average 18% raise last year. Workers lost 2.4%.

 

Congress may thwart 2^nd GOP coup attempt: change rules on elector counting

Throughgoing SOB Gohmert only no vote  suspend tariffs for imported baby formula.

Idaho Republicans poised to reject 2020 election results: Sieg Heil to Trump

Terrorists threaten daughter of doctor who gave 10-year-old an abortion legally

 

Clarence to end mixed marriage. Will he have to divorce his white wife? Loving vs VA

 

Jobs

NJ school senior management pays $300K: many openings

IT and manager jobs: flex hours

Many pandemic retirees are going back to work simply because they’re bored

 

 

Who owns your account now?

Medicare facilities in your area rated

Median home price was $416,000 last month, up 13.4% year ago: 5.86% fixed 30 yrs

Save 15% back to school Target to 9/10

 

 

Miracles:

Last month was among Earth’s warmest Junes ever recorded: UK all time record 40C

Lake Mead dry shows all the sunken junk for years: boats, guns, furniture, fish

 

July 21 1925, John Scopes found guilty of teaching Darwin’s Evolution: repeat history

 

One woman giving 4,000 Kenyan kids a chance for a future through recycled computers.

Unique in all the billions of stars and galaxies: why don’t we take care of what we got?

How romantic: rich and famous use Vegas drive-through chapel; low-cost wedding

TicTocker saves wedding from 3 Uber driver cancels:

 

Mom faints when baby falls in drain then can’t get out: rescue by ‘backhoe’

Gene-therapy that can effectively reverse a state of near-total blindness

 

MIT 1^st: significantly amplify and measure quantum changes in atomic vibrations

 

 

 

@

I don’t think that there is any such thing as a position or a velocity of a particle.

Light is both a particle and a wave depending on how we look at the light.

Everything in universe: galaxies to stones 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!

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.

 

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/

 

Commoditization of the financial advice industry

 

Tax-refund Millionaire-- https://www.irs.gov/refunds

Most people spend their tax refund—your refund could be a retirement nest egg.

Michele had trouble saving. She seemed to always be waiting for her next paycheck. She never had enough to save for a rainy day like her Mom did. She used to make about $55,000 as a shop manager but with federal, social security, Medicare and state taxes, unemployment, disability, and health insurance, she was not able to put anything away for retirement. Years ago, her local tax preparer suggested she use her tax refund (average $3,000) to create a retirement fund. Usually Michele would use her refund to pay bills or buy something special. The tax preparer said that if she agreed to start an IRA with $3,000 of her refund, she would be able to increase her refund—Uncle Sam would help her save. The amount she invested would reduce her income and make her refund larger. The $3,000 could grow over time, if she left it in stock mutual funds in her IRA account. Over time, it has grown large enough that she will have enough for retirement.

I will help you start one in 1 hour: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

Right now your $3,000 tax refund is worth DOUBLE

If we invest our tax refund in a stock fund—the shares are down 14% so far this year—the shares will easily double in value when the stock market recovers by next year. The alternative is to put $3,000 in a savings account earning .8% so you have $3,054 in a couple of years. $6,000 vs $3,054 in a couple of years. Stock prices are down—a sale. You are able to double your money in less time. Where can you do that? Not in a hedge fund. Warren Buffett proved that. Using a tax-FREE investment account, you may never have to pay tax on that portfolio increase. You can use the only legal tax shelter for working people. If you keep adding your tax refund to your tax-FREE account, you may have $250,000 in 20 years—and you will be able to spend it all—an extra 20-25% since there are NO income taxes on this special §408A account.

Go Tax-FREE: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Is this annuity right for you?

This annuity provides you with a guaranteed income for life. And the amount adjusts for inflation so that in 20 years it pays you an amount that has kept pace with the rising cost of living. Most annuity payouts are fixed, so that the amount you receive buys only about HALF of what it used to buy. This annuity grows over the course of time instead of requiring a huge chunk of your nest egg when you stop working. In fact this annuity can begin when you really need it—after you have accomplished all the things on your “bucket list” and you have spent most of your nest egg. This annuity can never fail to pay your monthly income because it is not dependent on the financial soundness of an insurance company. The monthly amount comes directly from the United States Treasury to your checking account. And the Treasury has never missed a payment even when the rest of the government has stopped paying its bills. Talk about peace of mind. And you can receive over a $1 million during your lifetime. Take this annuity.

Maximize benefits: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

 

Commoditization of the financial advice industry

Advisors can no longer afford to help families with less than $1 million of investible assets. Advisors cannot be sustained without the need to trade a lot of securities or sell a product like an annuity to keep the “fat cats” wealthy and their offices plush. Most large advisory firms have had to put clients into robo advisor mode. Wealthfront and Edge are examples. You are sent to the service center model, where the financial advisor does not play a critical role. Portfolios are standardized so you get one of 5-10 models. However, tax management or estate planning need more than an algorithm. So you are better off finding an expert on a fixed-fee basis at the time you need special services. For instance, many readers hired a planner (CFP) for a set fee to provide a comprehensive year by year estimate of income and expenses for 30 years. A tax accountant (CPA) can provide expert advice on handling tax matters. For complicated estate plans, you can secure a competent estate planner to guarantee your legacy. Remember, your IRA and regular mutual fund have beneficiary provisions which pass your money outside your will.

https://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

 

Best Robo-Advisor: Ultimate Automatic Wealth Management

Morningstar, the securities analyst found that COST is the best predictor of financial success over time. Fidelity found that their client accounts that were most successful were those put on automatic—left alone—forgotten. Warren Buffett: “The stock market is a device for transferring money from the impatient to the patient.” Buffett claims that his holding period is forever. He advocates compounding (allow earnings on earnings to grow exponentially): "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Robo-advisors work because money does NOT trade, rebalance, market time, buy high-sell low or sector rotate. It compounds. Yes, it is counter intuitive and it violates every 'rule' of Wall Street. Leaving your money alone to grow by compounding the earnings is easy – but HARD. Human beings do not control their emotions -- fear and greed win out every time. In fact, the average investor earns only 3.79% annually (vs market returns of 11.06%) according to DALBAR’s QAIB for 10, 20, 30 years. Use the Ultimate Automatic Wealth Management firm for success.

https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

We will need to pay extra taxes on our inheritance

The new federal regulations would require many people who inherit money through traditional individual retirement accounts (IRAs) as well as 401(k)s, 403(b)s and eligible 457(b)s to withdraw funds from the accounts every year over a 10-year period, The Wall Street Journal reports. Non-spouse heirs are required to take minimum taxable withdrawals every year for 10 years from their inheritance in situations where the original account owner died on or after April 1 of the year of his or her 72nd birthday. These withdrawals, technically known as required minimum distributions (RMDs), must empty the account within the 10-year period. Heirs would pay a penalty of 50% on any RMD amounts that they failed to withdraw according to the schedule defined by the new IRS rules. This change, from “at the end of 10 years” to every year makes the tax-FREE Roth IRA more attractive to those making a legacy.

Consider a conversion to Roth: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

Another way we pay taxes for the wealthy

Our Representatives continue to provide rich people with another way to avoid paying taxes. This one is fairly simple to eliminate but it continues to blow up the amount we all have to pay in the national debt. This three-decades-old loophole that cuts private equity billionaires’ tax rate almost in half is called carried interest. It is really the profits taken from investors by investment managerial firms. Investment managers pay a lower tax rate “than teachers and firefighters” because money manager are taxed at the lower capital gains rate not the income rate we all pay. Private equity and investment firms spent about $3.6 million on DC lobbyists; over the next four years they spent a combined $75 million. Small amount compared with the $180 Billion they take over 10 years. Obama tried to revoke this special deal but he never “leaned” on senators to include carried interest in a tax reform push. Senators get election money from money managers and lobbyists so they continue to run up our tax bill by not paying their fair share.

Stop paying their tax: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Best graduation gift you can give

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. We have used this 'Wealth Reserve' as I call it to have funds to use low-cost high-deductible insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in retirement supplement.

Start their ‘Wealth Reserve’: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

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

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trumpist’s Supremes end personal rights

 

Nov 8 2022 Trump’s “national revolution”

 

 

Trump: drop missiles on Mexico drug makers

 

Trump: “shoot the protesters”

 

 

How Govt wastes our money:

GOP plan to ban IUD etc: charge murder for end pregnancy by any means

GOP Supremes: no right to private decision like abortion, gender, marriage in Constitution

TX low-income Latinas face major obstacles when it comes to ending unwanted pregnancies

 

Alito relies on 1671 understanding of marriage to think women rights NOT Constitutional.

Trump gave troubled lab $628 million contract to make the COVID-19 vaccines: later destroyed

Rand Paul dissents helping Ukraine with aid: $40 Billion “doom US economy” but tax breaks OK

 

SCAMS/SPINS:

GOP good old days: no aviane, so rhythm, no abortion, so coat hanger, no gays so closet

A Trump world vs a DeSantis world: radical southern strategy overwhelms staid Joe.

DeSantis redistricting map that would have eliminated a Black district in FL

 

FL rejected 41% of books: 24 of them scored high on official reviewers but reject too

Guns Now Kill More Children and Young Adults Than Car Crashes: Books don’t kill!

 

Putting Putin’s partisan on trial for war crimes: 21 yr old murdered unarmed 62 yr old

Putin scores “victory’ kills 60 women/children hiding in school: killing Ukraine ‘nazis’

GOP souring on Ukraine support: 57 House vote no on aid for survivors

 

Greene said can’t remember Jan 6 coup and so did judge: more crazy Greene GOP stunts

Trump fails to provide subpoena documents because he “lost his phones” Judge tricked!

 

 

Medicare Advantage declines 18% claims experts say OK: insurers hate paying claims

Jeffrey N. Crossland CA caught stealing $3.5 millions church loan scam 4 years prison

Trumps caught taking $ millions: promote fake vitamin/health products

 

Supremes base abortion ban on 1736 Englishman’s hate of women as witch, property

GOP encouraged to ban contraception as well as other personal choice rights.

 

Never use TurboTax: caught misleading us about costs; pay fine no jail

Banks caught ATM surcharges not reimbursed: claim refunds

Forever Living caught promises HUGE earnings but distributors earn absolutely nothing

 

RAM Payment/Account Management Systems caught overcharging debt relief clients 

SugarHouse Sportsbook caught fraud: “get up to a $250 match bonus on first deposit.”

TD Bank caught misleading “$300 Gift” TD can take back the $300 it “gave” us.

Recall 130,000 Tesla overheating cause the touchscreen to malfunction: burns your chips

 

Hackers are going after our data files with insurers: check your mobile password.

100 pairs of “extra destroyed” sneakers available to buy for $1,850: what you thinking?

work-at-home schemes provide income for criminals not us

 

Easy to mislead each other: fun for some costly for others: we’re conspiracy lovers

DeSantis holiday: mandate for students: learn “atrocities” by communist regimes no slave owners

GOP to block student access to online library databases: books, articles they don’t like

 

Jobs

Wage levels fell: inflation elevated at 8.3%: 6% wage rise less 8% price rise: we lost 2%

 

 

Who owns your account now?

Phoenix: fastest growing home prices: risen 216% since 2000!  Institutional investors 

Low-cost internet access for most Americans: some computer deals

NSM Insurance Group to Carlyle Group Inc

 

Allstate expects to raise premiums more: costlier litigation and used-car prices

Investors glad they did NOT put Bitcoin in their 401k as Fidelity recommended

 

Miracles:

Water shortage level likely trigger larger water cuts for Arizona, Nevada and California 

Women among Ukraine’s foreign fighters: Putin didn’t bargain for these heroes

Warming: giant groundwater system under the ice sheet in Antarctica: raise ocean levels?

 

Congress hearings on UFOs next week: 144 events, 1 explained: watch C-span

Scientist says move NYC before it is too late; too expensive: who is this guy?

Floating Solar Power Farm on lake with battery replaces Putin oil

 

Plane passenger lands plane after pilot incapacitated: DIY flying using picture of controls

States that offer free college courses to residents: Harvard’s free online courses

Your investments in the stock market have doubled over the last 5 years: 200-400 IVV

 

 

@@@@@@

Everything in the universe from galaxy to stones is made of subatomic ‘vibrations’

Light is both a particle and a wave depending on how we look at the light.

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!

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.

 

 

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/