How we verify financial offerings are NOT scams

 How we verify financial offerings are NOT scams

Verify all the information you receive. Most of us get our news on social media. For instance here are 5 outright fakes thousands of us may take as true information. Twitter, Facebook, Google, and other sources are favored by most scammers since there is no editor checking the validity of the offers. Most financial scams are started online. Many of us are tempted to click on the email from imposters who use logos from our regular bank, online store and gov agencies. Recently I was informed that my PayPal account was suspended and I could fix it by clicking the link. I deleted the email and went directly to PayPal to verify no suspension. PayPal keeps a list of all the scams they see. Google News provides a “Fact check” blotter to highlight false/misleading info. Others like snopes.com/fact-check/biden-nephew/ track plain lies. We might be better off reading social media a entertainment not news. To verify any info or offer, I use traditional news organizations like AP, Reuters, NY Times, and Washington Post. We pay editors to check. When I read claims like a 7% annuity rate, for instance, I know they are fake--not possible. If I did not know about annuities, I would check widely regarded sources like Kiplinger, Money, DowJones, and an expert seller like immediateannuities.com/. Broker scams like Ponzi schemes are harder to detect since trust might exist. However, beware guarantees, high consistent returns. Confirm unusual behavior with the firm’s supervisor.

Better safe than sorry: https://www.amazon.com/Money-Scams-2014-insurance-financial/dp/1505437962

 

Why pay higher car premiums?

Errors in your credit report and score mean you pay more for car, home and life insurance. Clear up your ‘rap’ sheet so you know the ‘score’ before you shop for new credit. Most credit reports have errors others created. For instance, collectors place invalid or fake debts on your reports to coerce you to pay them. We have to clean up their mess. Credit is easy to lose with wrong info. My personal experience: bureau put another person’s (similar name) defaults on MY report. I was denied credit card and had to pay higher life and car insurance premiums. Can’t sue: government protects credit bureaus so their mistakes are never punished. Find and fix your credit reports before your rates go up: https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports. Paying $ hundreds to “protect your credit” does not actually stop bad things from happening. You can “monitor” your own credit and SS number abuse at no cost. You can get a free copy of your credit report every 12 months from each bureau: AnnualCreditReport.com  Check credit score: https://www.creditkarma.com/credit-scores. Insurers, landlords, auto dealers, banks, lawyers and lenders use your credit reports. Anyone can buy your credit reports.

Save on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Need an extra $3,000 a year?

Save $3,000 a year on financial products/services you don’t need or get for less. We are living longer. We will need more savings for up to 30 years in retirement. Even if we work after age 67, we will eventually not be able to work. Planning for more income later requires we save more now, while we can. Compare what you spend to the US average household spending standard to see where you might save $3,000 a year. My reader’s biggest savings: $3,000 a year in money management fees/commissions. Example: $200,000 nest egg advisor fees 1.5% per year: Save $3,000 by moving to low-fee index account. $3,000 per year savings can add $350,000 to your funds in just 25 years; $1 million in 35 years. Avoid nursing home later.

Stop wasting you money: https://www.amazon.com/Stop-wasting-3000-every-year/dp/146108394X

 

Best gift for your child/grandchild

Don’t you wish your parents had started a tax-FREE investment account for you when you were young? You might be a millionaire already if they had bought Apple, Google, Microsoft, Amazon, Facebook, Berkshire Hathaway, Johnson & Johnson, JPMorgan Chase, Visa, and Procter & Gamble 10, 20, 30 years ago. Make sure you teach your kids how to create wealth the easy way by using compounding and low-cost index accounts.

According to Warren Buffett investing is not rocket science but just being patient: time. Most of my readers earn 11% a year on average.

Start today: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

 

  

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

 

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

 

 

GOP Supremes block American dictatorship

 

GOP Supremes crowned Bush II: Scalia stopped vote counts

 

Trumpists scare representatives with home bombings

 

Healing America begins with admission: 315,000 dead

 

Dictator’s advisor: “we want them infected”

 

 

Our ‘Truth and Reconciliation Commission’? 

 

 

 

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy! 

Congress says NO: Americans forced to steal food: 42 million in poverty: line for food

Congress ignores 885,000 new unemployed: talking for months: pawn in power plays

One man, McConnell, holds millions of lives in his hand: is this really our government?

 

Trump process: 'deconstruction of the administrative state' as promised: 315,000+ dead

Trump goes after endangered animals as revenge on nature lovers/anti-coal/oil/gas folks

 

Putin breaks our secret codes after we spent $ billions to protect them: get refund?

Biden saves us taxpayers 2.6 Billion on first day: Dictator’s Wall falls: symbol of fear.

 

The Emperor has no clothes: Trump con: “We keep going.”  Takes home $200 million

GOP claims rejected by at least 86 judges in more than 50 court cases: Insanity.

Trump’s lawyer, not our Attorney General, forced to quit or be fired for not lying again!

Trump gathers fellow travelers as Coup attempt continues: Will terrorists occupy WH?

 

Hacked federal agencies bought same software: easy hack by USSR: Putin laughs, Trump silent

Supremes again knock down public health for ‘religious’ events: mass infections OK

‘Religious’ nonprofits violate Constitution separation: pay GOP favorites for rulings 

Trump’s deal skills: US pays more for vaccine than EU. Refused to buy more early

 

Wealth spends the $3.7 T tax break: Lou Gehrig 1931 dirty stinky jersey for $1.5 million.

Tom Brady got $1 million instead of our small businesses: local stores 130 got no jobs

Fed will keep giving our cash to stock markets: wealthy won’t panic take their money out

 

SCAMS/SPINS:

Texas GOP: "law-abiding states" should "form a Union": TX leading Civil War II

Trump urges overthrow of government of GA, AZ: sedition charges in February?

126 House GOP pledged to help overturn legal election to install dictator: sedition?

Trumpers still think God chose Trump president 2^nd term: “the winner pop into my head”

 

January House swearing Oath of office to Constitution or to Trumpism for 126 GOP?

Only 1 House GOP sorry GOP not support Constitution election process: Mitchell quits

Putin acknowledges Biden while House GOP still plotting to vote NO Jan 6 certification

Moscow Mitch finally got the OK to call Biden re: US election month later.

 

Secession talk in 17 states which backed TX move to overthrow US democracy

Admitted felon Gen Flynn says Trump still prez: ‘people decide not courts’ we did!

Will former General Flynn lead AR 15 terrorists to block Biden from White House?

Trump: I won so “I am not leaving” WH Jan 20: Biden may need army to oust him.

 

More fake posts to incite anti-vaccine movement: fake pic of MAGA rally

Local firefighters ignore danger, have party, no masks, get virus: now, houses burn.

Dodge City mayor quits after threats to life from anti-mask terrorists: US at war

Ivanka decides: “These blanket lockdowns are not grounded in science.” Let’s try an island

 

Alder Holdings failed tell buyers using credit reports to charge more for alarm services

CapWealth Advisors caught selling higher-cost funds overcharging w/o consent; no jail

Lay off 100,000 to keep company profits flowing to wealthy: 27 of the 50 largest firms

Brokerage Robinhood caught misleading customers on how it makes money 

Wealthy jump the line for vaccine: “If I donate $25,000 …” Concierge doctors for price

 

Card scammers: gas station swipe device takes CC strip #s: use credit not debit

Zoom phishing scams are the latest conduit for planting malware: “click to reactivate”

Least reliable vehicles by Consumer Reports: some cost over $90,000 pay more get less

 

 

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

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

Living longer means part-time jobs of all kinds: https://jobs.aarp.org/

Nurses will always have a job: traveling nurses in high demand; $5,616/wk

White House staffer got Covid 3 mo hospital: needs donations: no insurance no T help?

 

Who owns your account now?

Best time to buy a used car and save $1-3,000: Not Christmas; not new models’ day

 

 

Miracles:

Trump declines vaccine for WH: staff does not need protection [from hoax]: Con man

Can GOPs find their souls or has Trumpism destroyed them? Matthew 16:26

Rapid virus test at home no lab no doctor approved by FDA: Ellume & others

 

‘Legal’ drug dealers pay $65 million to help kill 470,000 people: no arrests for murder

 

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

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Financial industry BIG LIE

Financial industry BIG LIE

Many investors still believe their advisor broker or agent charges NOTHING. Among mutual fund investors, 32% believed they do not pay fees or expenses, according to new study. The survey showed that 46% of the participants mistakenly think that the past performance of an investment is a good indicator of future results. Since investing is not taught in school, the only source of information is the industry’s sales people. They have a vested interest in keep us dumb about investing and how they get paid just as doctors don’t tell patients they are paid to push certain drugs. And the industry has convinced us that we have enough information to make good decisions. Sites that offer contrary information about sale of financial products like BrokerCheck or Investor.gov are hardly used. Most investors don’t realize how much they pay for bad advice over their lifetimes. The average investor earned just 3.79% vs 11% from a low-cost market index fund and that over 30 years, they give up 63% of their potential earnings.

Avoid the BIG LIE: https://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

Do we really need an advisor now?

‘Next Decade Will Bring the Demise of Hundreds of Advisory Firms.’ This was the topic of one recent advisor conference. The industry has changed. Commissions are lower or $0. Low-cost fund firm Vanguard is growing faster than any other fund firm. Brokerage firms are bought by banks or consolidating. Many firms are eliminating smaller accounts. Their wealthy clients are going into art, private debt, and hard assets. Our life stages have changed and so we will need ‘lifestyle counselors.’ Technology has changed the way we invest and manage our money. We don’t need a sales person to tell us how to make money. Most people understand that costs are important in the long run to retire. Over time, whether we use a 401k or advisor, we waste up to 63% of our total potential accumulations in fees, commissions, trading, timing schemes. Instead, we can answer our own questions of how to invest and manage money.  

We use Warren Buffett as our money coach: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Are the new leveraged and inverse exchange-traded funds right for you?

Brokerage firms are proposing that the SEC allow them to sell the “riskiest” ETFs. However, some of the ETF industry's most controversial products come with a caveat that could doom them to irrelevance: brokers must document whether investors understand their risks. Since many traders love the potential of huge gains, wirehouses have a huge potential market of buyers. But how will they prove we understand we could lose more than we bet? Leveraged products use derivatives to boost their returns or move in the opposite direction to their benchmarks. While these strategies can mean big bucks, they can also amplify losses, especially for the less experienced ‘players.’ Historically, the average investor earns only 3.79% instead of the market index return of 11% because they lose as much as they gain. As one analyst put it: "Anything new that is coming in at the margins will likely aim for something more esoteric, more gimmicky." These products have been banned for 10 years for a reason. Casinos offer thrills for less.

Earn 11% not 3.79%: https://www.amazon.com/Win-Investment-War-Earn-11-Not-3/dp/1522916369

Our incomes barely budged in 50 years

The average real (after inflation) annual income after taxes and transfers has edged up a meager $8,000 since 1970, rising from just over $19,000 to just over $27,000 in 2018. By contrast, among the top 1 percent of earners, average income even after taxes and transfers has tripled since 1970, rising by more than $800,000, from just over $300,000 to over $1 million in 2018. This is why we can’t afford a decent retirement fund, college for the kids, or even a home, in recent years. The money we earned for the American Dream got sent up the line to the bosses and owners: the top .01 % has increased their incomes nearly sevenfold, from just over $3.5 million to over $24 million. Their taxes went down to 17% while ours went up to 33%. The wealthy have screwed us all and the Dem’s plans to raise taxes on income or wealth will fail just like in the past.

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

Are the new mobile trading apps right for you?

Apps from Charles Schwab, Wells Fargo and Edward Jones all earned high marks from users relative to the rest of the brokerage industry according to J.D. Power. Our question: do we earn more money by having the ability to trade securities at our finger tips? Fast trading is usually what leads to greater losses over greater gains. With computer trading and order execution by full-time geeks, is it really possible to beat Wall Street workers? Impulse buying is a marketing tool of the grocery industry. Historically most us fail to beat the lowly market index. Warren Buffett recently proved this again. Trading by click could be the equivalent to playing the lottery every week—spend $1,000 win $750.

Use Buffett as advisor: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

What is a ‘safe’ investment strategy?

In one day, I received three totally different messages from so-called “professional” Wall Streeters on the future of my investments. It’s no wonder we investors are always paying the WRONG advisor. Thing is, NONE of them know what will happen. When I worked in the industry, the expensive suits on the top floor had to come up with new reasons for our clients to buy or sell every week. As one veteran confessed, “we don’t make any money unless there is activity.” So Citi says stocks. Bloomberg says risks ahead. One says Recession: ‘Get into cash.’ Another says No recession. Whatever your advisor recommends doesn’t matter by next month so the best strategy is to stay in a diversified portfolio like the top 10 from low-cost Vanguard and don’t pay fees for ‘advice’ (guessing is more accurate). Hey, you are the one taking all the risks and paying the fees, charges, commissions.

Earn 11% not 3.79%: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Convert your IRA to a Roth and leave a TAX FREE legacy

When you take out IRA money after you reach 70 ½ years, you can pay tax as you are required to do and pop the amount up to $7,000 into your Roth IRA with a child or grandchild as beneficiary. It grows Tax FREE until you pass and becomes your legacy without the taxes you, nor they, pay. You can even change the owner later on so this cash build up over the years is not counted in your estate. Since you are forced to take this money out as your RMD each year, you create an estate for them without ANY tax to them: Perfect reminder of your generosity.

Create a legacy: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Best holiday gift for your young person—lasts a lifetime

Your child or grandchild could have a $2,000,000 Wealth Reserve providing tax-FREE income later in life. Your annual or monthly gift could provide your favorite child with real “social security:” their own tax-FREE money fund. You help them take advantage of the miracle of compounding. Put $250 a month ($3,000 a year) in a low-cost stock index fund earning 11% and watch it explode: moneychimp.com/calculator/compound_interest_calculator.htm. Your gift becomes a $1-2,000,000 Wealth Reserve. You could reduce your taxable estate by up to $500,000 for each child. Your child or grandchild may NEVER have to pay taxes on the money either if you use a Roth IRA. Social Security will exhaust its reserve fund in about 2034, according to 2018 projections. Every year you delay helping them with a gift costs your favorite kid $100,000 later.

Start giving this holiday: https://www.amazon.com/Give-your-Child-Grandchild-2000000-Lifetime/dp/1456433105

Is ‘bundling’ auto and home insurance right for you?

First, since insurance companies like Progressive use this as a marketing tool, you need to check it out for your situation. You know it is a great deal for insurers since they push it. Second, they claim to save you money on the total premium but this can be bad for you. Their ‘bundle’ of policies may not cover what you need. Example: I had an oil tank in the ground for oil-fired steam. When I tried to bundle with my auto, all insurers refused. My home insurer grandfathered my coverage from a previous home and I have over 40 years with them. Third, if you have a lot of claims on your home and a perfect driving record, one ‘rap sheet’ will hurt your total premium. Better look for separate coverage. Fourth, insurers count your credit report with different weights. Bad credit means bad driving and home care behavior to some of them. Shop separately to compare your best deal. Remember that insurers are NOT your friends—they hate paying claims.

Shop every two years for auto: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

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

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

Bulling a 16 year old because she won and he didn’t

Trump is NOT above the law. Trump can’t obstruct justice or use his position to enrich himself. Big Con

Trump calls FBI ‘scum’ for investigating his mob’s contacts with Russians.

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

Live in TX? Trump is going to take your home for WALL: no 2^nd Amndmnt for homes.

Judge tells Trump NO, can’t build WALL with military money for other purpose.

Wasted $133 billion constructing and then bombing Afghanistan: created corruption?

Boeing and FAA ignored clear signs 737 was dangerous: self-inspecting kills people

What kind of government puts children in cages separated from their parents?

Arming Space Force to fight wars in space: WWIII by remote control built by Boeing

Here are the folks who actually write the laws of this country: Example: Citibank

Trump vowed to change Medicare to negotiate drug prices: Drug cos pay GOP!

Trump still holding up $20 million for Ukraine: waiting for dirt for 2020 election?

SCAMS/SPINS:

Supremes help Trump hide his Russia money-laundering through Deutsche Bank

Trump’s vigilantes build his WALL illegally: Prez can give pardon to any criminal!

Trump raises fees for info on our immigrant forbearers to destroy our real histories

Insurer lures young annuity buyers by invoking parents' financial woes: fear-buying

Regulators let money manager hide ETF portfolios, including exotic items: buyer beware

Credit card debt hits 10-year high: “This is well-managed delinquency,”

Marcus Boggs caught stealing $2 millions: “very charming”

Jefferies brokerage caught mishandling ADR foreign securities: $4 million settlement

BitClub Network ran Ponzi scheme for fake $722 million cryptocurrency ‘miners’

Money buys Elections: Bloomberg, Trump, Biden, Putin, Soros, etc: Facebook profits

Medicare Advantage premiums for 2020: 23% lower than they were for 2018!

Boeing pays $3.9 million for killing 346 people in planes they knew were unsafe

Boeing forcing NASA into another cost overrun project: prop up failed 737.

Trump claims a higher property value to get loans and a lower value to get tax break LIE

Trump concerned how we flush toilet/wash hands: Giuliani makes Ukraine waste line.

Saudi pilot trainees led the 9/11 attack also: Trump defends Saudis after this Saudi attack

FBI knew foreign radicals could buy guns just by having hunting license: ISIS told Saudi

SCAM: ‘Save’ by switching gas/electric utility: but who to call if wires down/gas leak?

IRS makes tax prep more complicated to help paid preparers: Added 6 Sch to 1040.

Who owns your account?

CA banned medical surprise billing: protects people from bills of docs out of network

Jobs

Moving to avoid high state/property taxes? Consider wisely avoiding $10,000 cap SALT

Don Jr citing all the attacks on the Trumps, kills endangered argali sheep in Mongolia

Baseball player wins 7 year contract for $245 million: Avg Team revenue $330 million

Miracle:

Global warming: CA gets historic 75 foot wave—lucky at low tide but next time?

Boston bomber claims trial 6 years ago not fair: killed/injured 280 people: hated US

Atlantic coast will move 1 mile or more in our lifetimes: where is your home?

ObamaCare mandate actually saved lives by forcing states to offer coverage

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Best gift for your young person—lasts a lifetime

Best gift for your young person—lasts a lifetime

Your child or grandchild could have a $2,000,000 Wealth Reserve providing tax-FREE income later in life. Your annual or monthly gift could provide your favorite child with real “social security:” their own tax-FREE money fund. You help them take advantage of the miracle of compounding. Your gift becomes a $1-2,000,000 Wealth Reserve. You could reduce your taxable estate by up  to $500,000 for each child. Your child or grandchild will NEVER have to pay taxes on the money either. Social Security will exhaust its reserve fund in about 2034, according to 2018 projections. Every year you delay helping them with a gift costs your favorite kid $100,000 later.

Start giving this holiday: https://www.amazon.com/Give-your-Child-Grandchild-2000000-Lifetime/dp/1456433105

Rethinking living life to age 100?

Longevity—living longer—and longevity risk—running out of money—are real concerns for anyone age 60 today. Maintaining physical fitness from the beginning to end of life will be paramount. Getting outside, encouraging sports, reducing the time we sit, and spending more time walking and moving will greatly improve individual lives. There is good reason to think we will work longer, but we can improve work quality with shorter workweeks, flexible scheduling and frequent “retirements.” The problem is living in cultures designed for lives half as long as the ones we have. Flexibility is the key to living well longer through different stages than in the past.

https://www.amazon.com/Longevity-Insurance-right-better-alternatives/dp/1482031434

Where can you invest $100 for your child’s future?

Teach your child to invest the Buffett way. Success with money starts early. Compounding over time assures your child of security. You have a great opportunity to teach your child how to become successful with money. They can learn to take care of themselves and even become wealthy from your guidance TODAY. You can show them how to take advantage of the greatest power in finance: compound interest and the time value of money. Warren Buffett, who turned his paper route savings into $60 billion, credited compounding over time for his wealth. "My wealth has come from a combination of living in America, some lucky genes, and compound interest." $100 a month can reach $867,000 in time.

It is TIME not stock-picking: https://www.amazon.com/Where-can-your-child-invest/dp/1492164240

Part-time job tax reporting change

IRS ruled recently that if you receive a 1099 MISC for work done which is NOT “your regular trade or business for a profit,” you may report it as miscellaneous income on line 8, 1040 instead of as a new business. Even if the payer makes a mistake and enters it in box 7, you are allowed to treat it as ‘other income’ as in box 3. If you use tax prep software, you are now allowed to move the amount reported in box 7 to box 3. This means you are not forced to complete the self-employment tax Schedule SE and business Schedule C. Usually, miscellaneous payments are for occasional remuneration for a task, not a business or trade involving expenses and the profit potential. Also for retirees, adding payments to their SS earnings record may reduce their future benefits since the remuneration may decrease the average earnings formula calculated annually. Example 1: retired social worker provides part year classes in yoga at her church. Unless she reports the $2500 from box 7 as box 3, she will owe over $800 additional tax or loss of refund. She is not teaching yoga for biz profit and there are no expenses involved in the activity. The IRS will accept reporting non-business income on line 8 despite an entry in box 7 on 1099 MISC. https://www.irs.gov/pub/irs-prior/i1099msc--2019.pdf

Example 2: high school student works at local CVS and plays drums for occasional events at a YMCA. He is learning to be a drummer as a future artist. He has expenses like transport, sticks, new heads, etc in pursuit of a profit. His 1099 MISC earnings total is in box 7. He must complete Schedule C and SE since he is an artist for a profit.

Confirm new ruling with your tax preparer.

Social Security will not be enough

Retirees receiving SS benefits in 2020 are getting a raise—a COLA. However, most will see a decrease in benefits since the Medicare B cost has gone up to $144.60 and is often deducted automatically. Looking forward in retirement, this will probably happen in future years. Plus, Congress is not likely to fix the failing SS benefit reserve fund which the trustees warn may cut benefits by 21% in 2034—just 14 years from now. For those near retirement, this is a warning: forget that new car costing over $40,000 and invest it. For those with 20 years or more before retirement, add an extra $250 a month to your 401k, Roth 401k, IRA or Roth IRA now.

Act now: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

How average is your tax deduction for charity?

If you still itemize deductions, this category has not been capped like the property and state income tax category. But how much can you reasonably deduct without generating a letter from the IRS? Perhaps if you stay close to the average for your income level you will be ‘safe.’ No one is ‘safe’ since the average taxpayer is just as likely as the super wealth to be audited. However, most of us don’t have the same lawyers as the tax avoiders do to fight the audit. I am asked how much to deduct by some clients when I do their taxes. I say “whatever you have receipts for.” However, the Vets, Red Cross and others don’t give you a value on your donation receipts. Any valuable item like a $4,000 wheelchair needs an appraisal or purchasing documentation. The IRS provides round numbers here: https://www.usatoday.com/ story/money/taxes/2018/07/06/how-much-average-taxpayer-give-charity-taxes-2018/36561381/ Be prepared to give receipts or docs if you claim much more than your income group average. Fewer middle-income folks are itemizing since the standard deduction was doubled last year. In recent years the IRS has quit auditing many wealthy folks. The IRS goes for the single mother with children since they know she has no money and no lawyer. America now has Socialism for the Rich:

Rich get richer with help: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

This investment is what most people are looking for

Most ‘investors’ are not traders. They understand that steady growth over time is better for their future happiness than constant worry about the current hot ‘opportunities.’ When we look at the funds that offer both growth and income before and during retirement, we use a fund’s long-term returns as a guide. Recently, a popular site called Seeking Alpha examined a fund that provides a well-rounded solution. The summary: “The Vanguard Wellesley Income fund, a mere conservative balanced fund, outperformed the S&P from 2000 to 2019. This fund proved suitable for all seasons, evidenced by its performance during major market meltdowns (i.e., 2000 and 2008). Three words might describe this fund: longevity, consistency and performance.” A total return of 9.7% since 1970 seems like an exceptional bargain in the growth and income space. A yield of 2.56% makes this fund superior to most fixed annuities for income since your capital is preserved. This is one of our choices for pre and post retirement.

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

Congress may give insurers and salespeople a big bonus for 2020

If they pass the SECURE Act, "The SECURE Act will make it easier for employers to offer as part of their retirement plans annuities that provide a guaranteed stream of lifetime income," says an insurance lobbyist. Employers and their retirement plan person can entice us into high-cost plans that lock up our retirement dollars into an insurer’s vaults. Using industry trick-phrases like “guaranteed income you can’t outlive” and misleading charts with best possible outcomes, employers can wash their hands of any future responsibility for the inevitable low payouts down the line. For instance, when we chose an annuity of $1000 a month in 2020, we will have no recourse when it buys only $500 a month benefits in 20 years. Currently, a retiree can shop and buy the best annuity deal out there with their money. Under SECURE, employers will be able to escape any future suit when an annuity ‘guarantee’ goes wrong. We are NOT secure with SECURE. Learn the annuity facts: https://www.amazon.com/Annuity-Decision-Tree-questions-answers/dp/1546454497

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

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

Courts: “Presidents are not kings”

Presidents don’t paste their face on other’s bodies—even as joke

Presidents do blame everyone else for their crimes

Trump supporter Duncan Hunter guilty: Another pardon candidate?

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

Drug dealers say ‘no’ to Trump importing drugs: Dealers want to be paid more not less.

TN to control poor’s health by bloc grant: refuse Medicaid money—TN decides if sick!

Trump supports Socialist Export- Import Bank to subsidize Boeing, Caterpillar, GE

Wealthy avoid global warming cuts: fossil-burning generators: we pay the tax credits

Trump gives $ millions to GOP donor to build his WALL on wildlife refuge

IRS tells employers to delay ACA required 1095 forms: some taxpayers lose

SCAMS/SPINS:

Trump cuts 1 million student lunches and food stamps to pay for his tax break: $4 Billion

GOP: Trump better prez than Lincoln; Dems know the history: It’s ‘fake history’ now

Whose money will win 2020 election? Lobbyists ‘help’ our Reps decide everything.

FoxNews’ Tucker Carlson is backing Putin: How much does that earn FoxNews?

Voters don’t care whether Trump’s mob broke the law: Propaganda works--Hitler knew it

BEWARE: your new TV w/ camera can be hacked: connection internet is open door

Avoid these car repair scams: Anything to do with a ‘flush’ is red flag.

CA tells insurers not to cancel 800,000 fire victims’ coverage: hits ‘no claim’ clients.

Ronald Roach caught fraud $1 billion Ponzi faked statements: defrocked 10 yrs jail

Joseph Bayliss caught fraud selling contracts on solar generators never bought/used

TMTE, Metals.com caught inducing liquidation retirement acct for gold: 50+% fees

Rafael E Rodriguez 210 Workers LLC caught healthcare fraud billing fake therapy: jail

Samuel Barnett SBB Research caught pumping hedge returns fake data: $1.4 mil fees

Lester Burroughs caught Ponzi stealing from clients with fake products

Laurence Allen used “other people’s $13 million savings as his personal piggy bank

Regulators allow broker defaults on arbitration wins: investors abused: can’t collect

Regulators admit firms don’t control bad sales & rogue sellers: allow fraud on clients

Some states welcome new talent: Refugees welcomed by some communities

U.S. students lag behind East Asia, Europe kids in reading, math, science. Need refugees

What housing crisis? 920,000 homes released into the market each year: boomers passing

Zimmerman now wants Trayvon Martin’s family money after he took their son.

Who owns your account?

Does your broker/advisor still charge commissions? LPL just dropped them to $0

Jobs

Working BEFORE your SS benefit age: lose $1 for every $2 earned over $17,640. 

Americans don’t want some jobs so immigration is answer Mr Trump: Car repair techs

Trump employs many undocumented workers despite his propaganda

Trump employs accounting tricks that only apply in the real estate biz so no indictments!

Miracle:

Catholic church covered up years of abuse of boys with bribes from Bishop: No jail time.

Buffalo bishop resigns after yrs covering up abuse of children: FBI & suits: no jail time.

Cut emissions by half by 2030 to keep the world temp increase under 1.5 degrees, report.

Boy Scouts borrow against ranch to pay thousands of child abuse suits: ‘trustworthy’ ??

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Refunds are smaller: We’re paying for Jared’s refund!

Refunds are smaller: We’re paying for Jared’s refund!

Trump’s gift to his wealthy friends and companies will cost each working person more. Tax refunds are running 8% less this year because Trump cut deductions for working people as well as property and state taxes. He added 6 more Schedules to file taxes so he could claim you can use ‘postcard’ 1040. It’s NO postcard and preparers charge by the page. Twitter is filling up with complaints from people whose situation has changed radically. A nurse got $1,000 less and nothing changed in the filing. Another person owes $2400 instead of ‘good refund.’ Others made less last year but owe $5,000. We were promised a ‘middle class tax break’ in October.  “We are giving a middle-income tax reduction of about 10 percent,” Trump told reporters. "We're doing it now for middle-income people. This is not for businesses. It's for middle." Trump lied again. Compared to 2017 rates, some taxpayers would pay more tax in 2018, even more in 2025, and HALF will pay more in 2027 according to Tax Policy Center. We are paying more because Trump, Jared and friends are paying less or $0 taxes. Instead of creating jobs, the corporations are buying back their stock for larger dividends.

Stop paying rich people’s taxes: https://www.amazon.com/Your-Hidden-Wealth-Reserve-Reduce-Taxes/dp/1540435148

Why do we taxpayers give welfare to profitable companies?

U.S. Steel's 2018 profits shot up to $1.12 billion. Gary IN put US Steel on welfare of $ 47 millions (city and state offered the firm a $47 million tax break package.). IN gave US Steel $10 million in tax credits, along with $2 million in worker training grants. There is no guarantee how many jobs are saved. Gary has already given Steel a property tax break estimated at $35 million over 25 years. Instead of making a jobs commitment to Gary, Steel used the benefits to buy back $300 million of its own stock. This benefits the owners not the workers and certainly not the city or state. Trump’s tariffs on foreign steel don’t help a firm with high-cost steel. Steel re-hired 800 in Granite City. Gary got a worse deal than that at Carrier which Trump boosted. A study of tax breaks on the state’s public finances in the last decade found that state incentives costing about $30,000 per job provided little benefit to Indiana’s economy or tax base. In New York, Amazon quit. Amazon does NOT need incentives—Bezos is rich already. Federal/state funds would be better spent on infrastructure jobs for now. Retraining and apprenticeship programs would help future workers. Funds for corporate Welfare could be for Medicare for All.

Trump extends American Socialism: https://www.amazon.com/Americas-Socialism-Rich-only-little-people-pay/dp/1535218584

Maybe you don’t need a will

Less than 20% of us have the 3 essentials. The folks who have assets usually have them. If you don’t have one maybe you don’t need one. Most financial accounts already specify who gets what. Usually an IRA, pension and brokerage accounts have beneficiary designations. The institution responds to the ‘bene’ on the account agreement not the will. If a home is held jointly it is owned by the survivor. A will is useful to the executor so that you can make sure your wishes are done, like the spouse without a license does NOT get the car. Many children fight over assets but having a will probably ends the discussion. Your possessions may not be needed by the kids and need to be given or carted away. Think about church or charities you want to support. Depending on how long you live a will usually has to be updated periodically. Perhaps that is another reason most us don’t have one. Some people won’t make one because they believe it brings on death. Some others don’t prepare for final expenses for the same reason. Some don’t want to leave a thing to certain family members.

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

Our work-place benefits are changing—new choices

Some employers are discovering that the old formula for worker satisfaction has changed. Since the age of the workforce may now span 50 years, everyone wants something different. Younger workers may want flex hours. Older workers may want great health care and more retirement fund matching. One size does NOT fit all. Listening to worker needs can lead to packages designed for each group. Some employers help with the student loans. Others fund disaster relief or paid parental leave. Everyone likes choice and employers must pay attention to keeping the workers they have since the market is tight. Chose a tax-FREE or tax-Deferred future.

Choose best savings plan: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

What Trump destroyed, each state is reinstating to protect us

MD is the latest state to adopt the Fiduciary Rule to protect us from unscrupulous money grubbers. Under the legislation, fiduciaries are required to act in the best interest of their clients, without regard to financial or other interests of the person or firm providing the advice. Seems like common sense but Trump killed the Obama law in his first year. The financial industry wants no limits on its ability to sell products that are NOT the best for us. Recently the Consumer Financial Protection Bureau appointee wanted to scrap a lending rule meant to guard the most vulnerable Americans. Payday lenders could go back to charging 400% interest on temporary loans that end up nagging borrowers for many years. State legislators now realize we need protection from the ‘money changers.’

Protect yourself: https://www.amazon.com/Fiduciary-Rule-BEST-dont-lose-anymore/dp/1530980275

Did you tell your child how to retire early?

Tax-FREE wealth! We did not have this option when I started working. Today, if you show your young adult that they can accumulate enough tax-FREE money, they could work and then enjoy life without the grind. The hard part is explaining that it takes time. The tax-FREE account has been around since 1997 and I was lucky my boss told me about it in the 2000s. This account can be set up at any financial firm and in many it costs nothing: No lawyer or broker is required. Using the low cost mutual funds recommended by Warren Buffett, it takes just 25 years to accumulate $3/4 million using $500 a month. It takes 30 years to hit $1.4 million—TAX-FREE. Your kin does nothing else—no trading, no broker fees, no market-timing. Automatic investing means they can’t fail. Teach on. Tax-FREE means they will have 25% MORE to live on. $0 Fed/state taxes.

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

Are no commission ETF index funds right for you?

In the race to recapture revenue from going to Vanguard, the for-profit firms Schwab and Fidelity are try to win us back by removing the commission. ETFs are index funds chosen by management to keep us invested in securities. You can trade 503 ETFs in 79 Morningstar categories (for example, large value stocks). Fidelity matched this explosion at the same time. But do we need 500 choices? The assumption is that we know what will happen in the future and will buy the right ETF. Like everyone who gambles, we are encouraged to place our bets on the favorite of the day. This delusion has caused many ‘investors’ to earn less than the buy and hold strategy. DALBAR, the firm that keeps track of returns, shows us that most of us earn only 3.79% when a simple 500 index fund earns over 11% a year over time. If that sounds like old fashion news, a recent study shows index funds hold more money than the funds run by ‘wise men.’ More investors are learning why Warren Buffett recently won his bet on the 500 Index over 5 hedge fund strategies. Trading and fees rob us of the Miracle of Compounding. John Bogle founder of Vanguard told us that trading and fees can take up to 63% of our possible accumulations over time.

Use the Miracle of Compounding not ETFs: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

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Make America, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions? quetiapine and clozapine

Truth isn’t truth, his lawyer says

I, Trump, have a new idea for a parade, fireworks on July 4th

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

Can’t understand why unpaid workers (slaves) need food banks

Is this our America? Forced off bus to prove citizenship; ICE says papers are fake

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 

WALL not needed in El Paso, Mr Prez: safer than your WH town. Washington DC

CA National Guard goes home: NO crisis on border—must be in Washington.

50,000 refugees in camps guarded by soldiers: separated children—Is this America?

Hydro power plant told to use coal instead of renewable so Trump funder gets profit.

Veterans who fought for our country were deported: Dems bring them back as heros!

SCAMS/SPINS:

2 Supremes lied about upholding previously decided law: how Supremes kill our laws.

Senate passes bill declaring lynching as hate crime—it took 200 years: Will Trump sign?

5 for-profit firms control health for over 125 million Americans: Cost going up or down?

Drug firms claim their high costs are needed for new drugs: actually we pay for them.

ObamaCare still provides health care to silent poor despite Trump’s evil intent.

Jared’s investment failure bailed out by Qatar: now Trump owes Qatar big time.

Trump tariff sending more farmers into bankruptcy: Trump helping corporate farms grow

IRS pursues fewer cases of tax evasion than it did less than 10 years ago. Rich get richer.

Clive Bundy still owes US $1 million for fees and penalties: No jail so guns beat Feds.

Ford 150 recalled: downshift to 1^st automatically at high speed—1.5 million 2011-13.

Toyota airbag recalled: shrapnel explosion in high humidity—70,000 2002-5; 23 dead.

BEWARE: Dyson vacs called unreliable by Consumer Reports. Half are pricy ‘garbage.’

Kestra Investment, TX, caught overcharging 3,205 clients $1.6 million: Fine, no jail  

BEWARE: Advisors claim signs of recession but no proof—balanced funds for long haul

Brent Borland NY caught fraud in Belize airport investment scam—jail time.

William Husel Mt Carmel OH caught giving excessive fentanyl doses: 16 deaths’ suits!

We have a history of separating kids from parents? Fear of the next group wins elections.

 “Individual 1” could be a Russian “asset”: Why FBI opened a file on The Mob Boss.

Trump has done what Putin wants: EXIT NATO, IRAN, SYRIA, INF Treaty, AFGAN.

The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.

‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Supremes protect Don’s ‘Orders’? – GOP: ‘Sure, pres can change Constitution anytime.’

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Jobs:

Retail jobs require us to learn a new language in order to sell to young customers.

Rep Jones, NC, regrets he did not do his job and tell Cheney NO to Iraq war BS.

Rand Paul won $ ½ million by piling his yard debris near neighbor: Next Job?

Who owns your account now?

Future of long-term care policies is uncertain as prices goes up. Alternatives

Check with the mechanic of your plane BEFORE you get aboard. Any skipped steps?

Medicare for All 1^st step—50 year olds can buy Medicare in advance.

Car insurers discount for drivers who drive less than 250 mi a day: tracking device.

Michael Avenatti has trouble: The Don must have a new Cohen. One less challenger.

Miracle:

The Beautiful Poetry of Donald Trump?

https://play.google.com/store/books/details?id=8ou9DgAAQBAJ&gl

Protestant clergy admit abuse of women & kids. Some evil-doers still at it. Hell on earth!

Brain cancer killed by our own immune system using new trigger drugs—trials positive.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts