How to “guarantee” a tax-FREE retirement income

 

Can I use my Roth IRA as my emergency fund?

Sure—you already paid tax on the money you contributed to a Roth IRA. However, there are a few rules to follow. When you withdrawal Roth IRA funds for an emergency or any expense, take the “contributions” first. Your custodian usually has a record of what you put in versus what that money has earned. Contributions can’t be taxed again and there is no penalty even if you are under 59.5 years old. If you are older, there is no tax either. Make sure you tell the custodian that you plan to put the money back in 60 days so they code the withdrawal properly. You are allowed only one rollover per year. Logically, you want to keep your Roth IRA emergency money in a money-market fund. However, many folks begin making contributions to a balanced (stocks and bonds) fund so they can build up the amount over time. Periodically move money to a Roth IRA MMF. When you need funds, make sure the money can be transferred to your bank account quickly. Do NOT let them take taxes out—you paid taxes on this money already. Don’t let them cut a check that you won't get for weeks—they like to hold the cash in their account as long as possible. You can even use this fund to pay no taxes later in retirement.

Build your tax-FREE account: https://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795

 

Which type of broker/advisor is best for you?

If we could know the future, this would be an easy decision. Bernie Madoff just died but his fraud is a lesson. Madoff pleaded guilty to 11 crimes: defrauded as many as 37,000 people in 136 countries over four decades. Mr Madoff was chairman of one of Wall Street’s regulators at one time. His investors gave him tons of money to invest because he promised to do his best and his creds were above many other advisors. Each week I document the many scammers in my old industry. There is no guarantee for investors. As a broker dealer manager, I saw how good well-meaning sales people can veer into trouble. Why? There are few safeguards in money-handling sales. The product is invisible. One is the designation called CFP. CERTIFIED FINANCIAL PLANNER™  Like a lawyer, they work for fees not commissions. The other way to help you avoid a Madoff type scam is to use a fee-only securities provider. Vanguard Group offers products via a unique corporate structure: We investors actually own the funds we invest in. There is no middle person/firm to take profits. Vanguard has salaried non-commission licensed “crew members” to help us. And Warren Buffett, one of the greatest investors, recommends Vanguard Funds. Use a less biased advisor without an incentive to steal.

Make Buffett be your advisor: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

We don’t have to pay off the $1 Trillion in taxes that the wealthy owe

The actual annual tax gap possibly exceeds $1 trillion per year, IRS Commissioner Charles Rettig told senators Tuesday. You and I know why the Congress does not do anything about it. Congress receives funds from the wealthy that let them hide their money from the rules that we must follow. We can’t afford to hire lawyers and accountants to set up offshore and intricate legal entities to obscure income. Remember how President Trump boasted that he doesn’t pay taxes because he is ‘smart’. Actually his staff is paid to hide his income. Since we only have one year available to see how he does it, we know one method—use the paper losses of a business to write off personal income. In the 1995 return he claims a loss of almost $1 billion: we taxpayers owed him a refund for many future years of his personal income. For the wealthy, even the ones that don’t hide income, the rules allow them to pay about HALF the rate we pay. Warren Buffett explains that he pays only 17.7%; HALF the 33% his staff pays. We have two ways to avoid paying for the national debt that the rich have run up. ONE: we start by using a business to cover some expenses and let the loss offset our income. TWO: we produce income inside a tax-FREE account. We produce tax-FREE income legally.

Start today: https://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

 

Is there a correct number of stocks to own?

Sure! Just one if you were Apple’s Steve Jobs or Microsoft’s Bill Gates or Amazon’s Jeff Bezos.

But most of us including Warren Buffett can’t know which stock will be the top grossing stocks of all time. So here is the answer as explained by Mr Buffett and his partner Mr Munger:

We like to put a lot of money in things that we feel strongly about. And that gets back to the diversification question. You know, we think diversification is - as practiced generally - makes very little sense for anyone that knows what they're doing. Diversification is a protection against ignorance. For most of us who know we do not know how to analyze businesses, we buy everything—an index of the top 500 stocks. If you know how to analyze businesses and value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably, because there aren't that many wonderful businesses that are understandable to a single human being, in all likelihood.

Charlie Munger said: The first rule of compounding: Never interrupt it unnecessarily.

If an initially very concentrated portfolio is likely to turn into an unbearably concentrated portfolio after a few years, then it's not really built with the long term in mind. So if you are clear on what you DO NOT KNOW, compound the index for 11%.

Buffett strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

 

Which market sector will provide the best returns in the future?

Since we can’t know what is ahead and we can’t assume the future is determined by the past, which sector are you betting on? ETFs have become the broker/advisor security of choice so that they can trade every day. However, most serious investors know that fast trading prevents you from enjoying multiple-year compounding and dividends. So which one do you favor for the future? Energy is the current leader but can it return 30% in the next few years. Or will it fall out of favor like consumer staples? Unless you know your business sector well or have Mr Buffett’s talent for analyzing large companies, you may be better off skipping your broker/advisor’s recommendations and just holding a low-cost index of large or small, growth or value stocks. Actually the most popular choice is the large company stock index. John Bogle, founder of Vanguard Group, created the simple 500 index fund because his research showed it was better for us to avoid trading by expensive stock pickers. Investing does not have to be complicated.

Simple wins: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

 

How to “guarantee” a tax-FREE retirement income

Put your investing on automatic. Use Buffett's Investment Strategy: Set it and Forget it "… our favorite holding period is FOREVER.” Manage the account only once a year! Contribute $9 a day, $250 a month. Accumulate $55,000, $200,000, $1,000,000 over time. Use a special IRS account for Tax-FREE income. Use only low-cost high-return mutual funds. Warren Buffett's Investing Strategy is buy and hold FOREVER high earning companies. This allows compounding to work. Compounding is money earning money on its earnings when it is invested. Invest your money in businesses sharing profits with you and over time you can reach $1,000,000. A special account makes it tax-FREE. Tax-FREE is like a $300,000 bonus. When we invest in successful businesses, we can earn 10% to 12% a year. After 10 years, we can have $55,000 because the businesses paid dividends and we reinvested them. After 20 years, we could have $200,000 and after 33 years, perhaps $1,000,000. Over time, stocks are safer than bank CDs because we earn more than inflation subtracts. We have more buying power. Compounding works best when we put our money to work in successful businesses paying us dividends and stock splits. When we use a low-cost AND tax-FREE account, we avoid fees and taxes so we keep more of our money to compound. See how fast our investment can grow if we invest it in businesses like the ones we use every day.

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

 

Where is that refund?

The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App.

Where is the stimulus 1 or 2? If you did not receive stimulus 1 or 2, start filing here: https://www.irs.gov/newsroom/recovery-rebate-credit.

Estimated tax payments are still due April 15. If you are self-employed or do not have enough withheld from a paycheck, pension or Social Security, you may have to send quarterly payments to the IRS. Tax returns for 2020 are due May 17 not April 15 but the estimated tax payments are still on schedule.

IRS will redo your taxes and send refund if you paid tax on Unemployment 2020 or you paid ObamaCare’s excess advance premium tax credit repayment. 

 

Have tax forms; will file … for FREE but WAIT . . .

If you have unemployment income, ObamaCare coverage you should wait to file since the IRS has not yet implemented tax-FREE provisions of the new Covid law. If you already filed and paid tax on your unemployment income, IRS says it will send you a refund of the tax automatically. DO NOT FILE an amended return to obtain a refund on this tax. Taxes due MAY 17 not April 15. Input the W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. forms you have. You can file for FREE online. If you didn’t receive a correct form, file a Form 4852.  Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits.

 

Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. You can deduct as medical expense all Covid prevention supplies. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

What to do if you can’t pay by May 17?

Avoid the penalty for not paying estimated tax. Ask for an automatic extension to file till October. If that does not work for you, you can apply for a payment plan. An individual can setup an IRS installment plan if you owe $50,000 or less and can pay back the amount owed in 3 years. If you are a business owner, you can setup an installment plan if you owe $25,000 or less. The IRS will charge a one-time fee of $105.

If you own less than $25,000 and can pay the amount owed within six years, ask the IRS for a streamlined payment agreement. The IRS will charge a one-time fee of $102.

Request an Offer in Compromise if you cannot pay the total amount owed. This allows you to settle your tax debt for less than the total amount owed if you will be unable to pay back the total amount owed within 10 years. The IRS will charge a one-time fee of $150. Given the pandemic economic hardship, apply for the extension to file now: https://www.irs.gov/pub/irs-pdf/f4868.pdf

Special circumstances help: call the IRS Taxpayer Advocate Service 1-877-777-4778 for free assistance.

More ways: https://www.irs.gov/newsroom/heres-how-people-can-pay-their-federal-taxes

 

IRS has $1.3 billion refunds for 2017 tax returns

Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 return, according to the IRS. “Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on May 17.” If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury. Filing instructions are available on the IRS.gov Forms and Publications page or 800-829-3676.

You have 45 days to collect your cash!

 

 

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

 

 

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

 

Swing state GOP laws limit Dem voting: “only way to win”

 

Will the ‘militia’ (terrorists) try another coup?

 

1/6/21 Coup: “quick reaction force” with weapons ready

 

Trump delayed helping: Capitol Police died

 

 

Where ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

MS, AR, TN, AL, GA have unused vaccine slots: GOP deny Covid danger

40% Marines afraid of vaccine shot: Pentagon costs of health care to rise so we pay more

FedEx made $1.2 BILLION in profits last year but paid NOTHING in federal taxes

 

IRS fails to collect $1 Trillion in taxes from wealthy tax avoiders: we must pay

Can we really leave and stop wasting taxes in Afghanistan? Still paying for 5000 bases!

Biden seizes owner’s land on Rio Grand to continue Trump’s Wall? Promise to stop!

 

SCAMS/SPINS:

Christian nationalists raise $ millions for domestic terrorists: GiveSendGo pays killers

Unvaccinated people much more likely than the vaccinated to say it's safe for them to travel?

MN police say they don’t know the difference between their guns and their tasers: taser on left?

 

Trump hides taxes: used Prez excuse when Prez; now uses not Prez excuse when not Prez

 

Head of FBI’s field office in Albany promoted after sexual assaults on 8 women: no jail

Anthony Wayne March NC caught Ponzi fraud promised tax-deductible annuity 11 yrs

Tiger Woods caught speeding according to his car computer but no violation: spec treat?

$2.75/dox eggs just as nutritious as organic/’free range’ $7.49 eggs Marketplace 

 

AAA cramming donations into roadside service bills: use credit card customer service

Amazon scam: fake promise of refund takes hold of your computer for bank access

Phony IRS email to take your personal information to claim your “tax refund.”

SettleIt caught steering us into high-cost loans offered by affiliated lenders: fine no jail

 

Costco fake offers hit on all levels: BEWARE ‘free’

Twisted fake views feed propaganda of haters: they wouldn’t print it if it were false

Bitcoin can be spent at nightclub: now you have a place to dump your non-money money

 

6 GOP and Asian hate crimes bill: Cotton, Hawley, Cruz, Marshall, Paul, Tuberville.

 

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

IRS tips to avoid scams: https://www.irs.gov/newsroom/tax-scams-consumer-alerts

 

Is it a scam?  Check AARP scamline 877.908.3360. BBB Scam tracker

 

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

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

 

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Amazon keeps union out and wages//benefits low

Most marines decline vaccine for Covid: 40% wait and see if vaccine needed

Your employer may have been paid to keep you at work: show them and take your pay

 

25 high pay jobs to reach for the future: plus machines can’t replace skilled trades!

 

Who owns your account now?

You will pay significantly more to insure homes in coastal areas and flood zones

laid-off workers can keep their employer-sponsored health insurance thru Sept FREE.

Your children may obtain FREE coverage too.

 

Funeral bill covered if Covid related death: 1 less thing to worry about

Now your personal ancestry data is owned by brokers at Blackstone

 

Miracles:

Sea levels could rise as much as 60 feet from melting ice sheets: move Miami?

herpes virus modified defeats child brain cancer cells: new hope for rare cancer.

Biden ends Trump’s racist housing rules: fair housing is a right for non whites too

 

Biden to end longest US war: 2,400 dead; 20,000 maimed plus 2,977 9/11 dead

Or is the US just going undercover: advisers, black ops, Osama strike force?

Troops to Ukraine next?  500 more German staging area: over 35,000 ready.

 

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/

 

 

So how does your advisor broker survive on $0 commissions?

Happy Holiday

So how does your advisor broker survive on $0 commissions?

There is no FREE lunch especially in financial services. Schwab paid its chief executive, Walt Bettinger, an 8.9% compensation hike in 2018 to $15.6 million (down from 2016 of  $19.54 million), about 150 times the firm’s median employee pay of $104,281. Charles gave himself $6.05 million, up 9.6% from 2017. Like others, Schwab had a profit margin of 45%. So how do we give them so much money if not in commissions? Firms execute others’ trades: Selling order flow. Firms earn interest on your cash. Earn from loans: margin trading and options trading. Earn from money management accounts: quarterly fee for ‘holding’ your money. Securities lending: covers shorts. Remember, most firms have such huge economies of scale that trading millions of shares a day at only 10 cents each is worth $ millions for senior management. Some firms are market makers and so have a virtual monopoly on certain markets. For instance, two former Deutsche Bank traders were found guilty of trying to rig a key lending benchmark (LIBOR) that was considered one of the most important barometers of the world’s financial health. Some brokerage firms are also capital creators selling IPOs: the stocks of new companies for big fees. There is no need to pay for advisors. Amateur traders usually lose money. Most smaller active stock managers may become history since beating an index is too hard.

Avoid making Wall Street richer: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Congress just gave insurers and salespeople a big bonus

They passed 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 later on. 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 lawsuit 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

How much IRA money should you convert to Roth IRA?

If you have a good idea how much income and thus tax you will pay for 2019, you can calculate how much IRA money to convert. If you file jointly, your $100,000 earned income puts you in the 22% bracket. With the standard deduction of $24,400, you can estimate the amount of IRA income to be taxed on for the year. You can convert to a Roth IRA as much as you can afford since the $7,000 limit on contributions does not apply. Example: $100,000 - $24,400 = $75,600. With $5,000 added income (SS, pension, interest, dividends, gains, etc) you can convert up to $88,000 without hitting the 24% bracket. Of course you will owe an extra $19,360 tax on top of the $17,600 AGI income tax. Pace it out over time. Use the FREE efile software to calculate: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free: now open: https://www.freetaxusa.com/ .

Pay no tax in retirement: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

How much will you be required to withdrawal from your IRA 2020?

IRS expects those over 70 ½ years old with a traditional IRA to take a certain amount out and pay tax on the taxable amount. Your IRA trustee or custodian reports your year end IRA account balances to the IRS and if you allow, calculates your RMD for the year. IRS tables tell us the divisor based on your assumed longevity. RMD is the ‘minimum’ you need to acknowledge and pay tax on. You can take more and pay more tax now. The IRS leaves it up to you to report how much of the RMD is taxable each year. Some people added already taxed money to their IRA (before the Roth IRA) so no need to be taxed again. You can adjust that RMD by removing money from your IRA and paying more tax before year-end. You might do that if you have no income other than SS benefits or you had to meet an emergency. Reducing the IRA balance by year-end will lower the RMD for the rest of your life. Thus if you have a $100,000 in your IRA your RMD is $3,773.58 because you are expected to live 26.5 years more when you are 71. If you took out $20,000 the year before the calculation, your RMD would be $3,018.87 the following year.

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

How to fight health care overcharges by your providers

Recently I got a bill from my colonoscopy provider. I thought all screening procedures are FREE since my expensive health care plan is usually excellent. My employer told me on my W-2 box 12a that my shared cost was $26,920.68. I did some research and printed out the FREE screening protocols for ACA ObamaCare compliant health plans. The ACA Preventive health initiative by Obama is meant to reduce long-term costs by catching problems early. I assumed my provider knew this when I confirmed that all the costs of my procedure would be covered. So I sent a copy of the ACA regs to the provider’s billing address with a note that I was covered. They just sent more bills and emails for months. The doctor’s office ignored me. Like in the movie Rainmaker, we pay premiums and the insurer-doctor complex assumes we will give up fighting. Since I knew they were wrong, I wrote a letter to the CEO of my insurance company asking him to pay the bill and set the provider’s billing clerk straight. They called the provider group HD and told me I would not get another bill. Most people would just give up and be sued and perhaps be thrown into bankruptcy. It happens a lot since we have no power against the insurer-doctor complex.

Know what you are buying: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Vanguard cut fees AGAIN

Vanguard has cut some fees 20% for funds and ETFs. Why is that important? Over time you will earn and KEEP substantially more of your hard-earned money. If you are investing for the long term, you could give up $143,000 on $10,000 deposit with that 20% extra fee. Compounding the extra fees works for your advisor just as well as it can work for you. This fact never comes to mind for most of us because our employer’s HR person never tells us exactly and completely what our 401k or 403b investments cost. Some of them don’t know. Most of us have no idea which options are best for us when we start our plan. Some employers don’t even look at fees when giving the plan advisor the annual check up. Even if they know what the fees are, they don’t care because WE are ones paying them. It comes out of our earnings even before our earnings are credited to our accounts. We don’t see them. Our employer has the fiduciary responsibility for choosing the best options for US not the advisor. However, most employers don’t take their duty seriously and this has led to many lawsuits. Over time, this can cost you over $100,00 in lost earnings on your invested money.

Check your options: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

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

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

GOP losing members and identity

GOP already drank the Kool-aid: no evidence necessary:

Mob boss never has live witnesses!

Letter by 700 impeachment experts

Trump’s desperate ‘jailhouse’ letter

Trump personal attacks on dead Congress member’s family: “look up” from hell

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

35% charter schools funded by federal Charter School Program never opened or shut.

$ Trillions: Afghan army incompetent, poorly trained, corrupt, riddled with infiltrators.

Trump fights for his useless WALL instead of lower drug prices from drug companies

Can Congress do something worthwhile? 54.6 billion spam phone calls placed.

Why can’t Trump negotiate lower drug prices or buy from foreign countries?

Trump will reduce SS benefits for the disabled: cuts to pay for tax break for wealthy

Medical fraud is easy: scammers have taken gov (us) for $ millions.

SCAMS/SPINS:

McConnell GOP bending down to Giuliani’s ass for impeachment: Judge Roy Bean

Supremes help Trump hide his Russia money-laundering till 2020 and beyond.

Truth is the greatest victim of this fight to the death for GOP view of ‘democracy’

Putin has Trump’s back: Russian dictator echoes GOP “made up reasons” Ukraine did it

GOP compares Trump to Jesus: Trump treated worse, GA rep says. Lincoln shot.

Voting machine makers can’t account for security of our voting tabulations

WI removes 234,000 DEM voters from rolls to assure WI goes to Trump again.

GA takes aim at eliminating 309,000 DEM voters: voter suppression for 2020

KY went Dem and removed Medicaid work restrictions placed by GOP recently

Jeffrey Friedland promoted weed investment w/o disclosing he got paid fined $4.2million

Windhaven Insurance FL insolvent taken over by the state for lack of surplus funds

Mormon Church caught using the tax-exempt donations to prop up a pair of businesses.

MetLife caught cheating annuity beneficiaries out of $ millions: Fine, no jail time.

Robinhood broker order flow failed to guarantee receive best prices: cheap but not best

Samuel Lek caught manipulative trading for foreign traders using master-sub account

Ryan Skinner caught using scheme to have seniors liquidate securities to buy annuities

BEWARE: Advisor sells annuity promising LTC benefits: pay extra 1% for no coverage.

QBI ends in 2025: Roth may be better tax-advantage later than 20% cut now

Harvey Weinstein accused sex criminal has his insurance pay 30 victims $47 million 

Hype of 5G: different types may not match your phone, coverage areas, speeds-too early.

Antidepressant use by children jumps more than 20 percent after a school shooting

Who owns your account?

Don’t take your phone to do your crime: Govt will find you using Google data.

Govt will take your legacy if your heirs don’t withdraw and pay taxes in 10 years.

Fiat Chrysler and Peugeot merge: Fiat family run with French twist

Jobs

Retirement isn’t for everyone: some people just have to work—it’s their joy.

Employers tricked by health insurance brokers so we pay more

Miracle:

Oceans getting more acidic: CA waters double the global rate. Australia hits 105.6.

Impeachment rallies: #NotAboveTheLaw rallies

Pope finally turning over criminal child abuser files to the police only IF requested.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Last minute gift on Christmas Day!

Last minute gift helps your young relative start investing free with a refund

You help them begin investing with a $2,000 tax credit. The amount of the credit is 50%, 20% or 10% of their retirement contributions depending on their adjusted gross income. The Saver’s Credit can be taken for your contributions to a traditional or Roth IRA; your 401(k), SIMPLE IRA, SARSEP, 403(b), 501(c)(18) or governmental 457(b) plan; and your voluntary after-tax employee contributions to your qualified retirement and 403(b) plans. Uncle Sam helps them get started. They use Warren Buffett’s investing strategy so they can accumulate a $ ½ million over time. Look at how they can make saving and investing easy for the rest of their lives: http://www.saferchild.org/power/. Send electronic book Christmas Day! https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help-ebook/dp/B00IHIFG38

Stocks are on sale!

When do you stock up on basics like paper towels and toilet paper?--when they are on sale! These every day use products have NOT changed: a roll is either $0.82 or 0.62 on sale but it is the same roll. Last week, I saved $15.80 on my shopping cart. I bought the same things I bought before. Your investments in stocks are the same. Earlier this year, your 500 Index of stocks cost you $272 and now the same thing costs $234. Stocks are on sale—the same ones: Microsoft Apple Amazon.com Alphabet Berkshire Hathaway Johnson & Johnson JPMorgan Chase Facebook Exxon Mobil Pfizer. Why are you thinking of selling?—And not buying? Think of your future first not last.

https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

Wealthy use crypto currency to launder their hidden cash

Since the new monetary system is not regulated by governments and is just virtual money (there are no physical ‘coins’ actually stored in vaults), you can hide this ‘money’ anywhere. The trick is finding places to spend it. Like counterfeit $20 bills, who will take it off your hands and for how much? You can’t just buy a ‘mansion’ with Bitcoins unless the owner will take them. Plus, where ever you store your digital booty, it might be stolen or lose value. Crypto is like Madoff’s marketing plan. He did not solicit nor advertise his Ponzi scheme. He pretended his strategy was not intended for everyone. Only the well-heeled were allowed to give him money. He created a myth and sold it via actual investment advisors and their social circles. His pitch: “you can’t have it so you want it more” and “don’t ask questions, just be grateful you got in.” "Everybody was greedy, everybody wanted to go on and I just went along with it," Madoff told a journalist.

Use your tax credits to pay less: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Need help starting to save? How’s 5% interest?

This credit union will pay you 5% on your money to get you started in a regular savings plan. This plan includes a checking and savings account plus certificate of deposit earning 5%. The requirements make it a perfect savings starter for a young person. This is the first step to using the IRS approved tax-FREE account—the Roth IRA. You earn great rate and you pay no taxes on the interest. WOW 5% without paying taxes on interest. Later when you feel comfortable, you can experience tax-FREE growth on a securities account at a low-cost mutual fund provider. Then you can earn 10-12% on your retirement investments and pay no tax now or later when you take the money out. You can take out contributions anytime tax FREE. However, if you keep investing automatically in this account, you could reach $1 million later—Compound interest and earnings without taxes EVER. Compounding is what keeps the rich, rich.

It is a miracle: https://www.amazon.com/Miracle-Compounding-Turn-$9-a-

day-into/dp/1470176513

Is this tax shelter right for you?

You can save/invest up to $500 a month and never pay tax on your earnings. This tax shelter is approved by the IRS! You don’t have to hide your money overseas. You don’t need a lawyer to set up the trust. You don’t need an advisor to manage your earnings. You don’t need an accountant to prepare your return for this shelter. You can set up this shelter on the phone or online in about 1 hour. You can have the trustee put the same monthly amount in automatically. You can have the unbiased trustee manage the securities at little cost. Tax-FREE earnings means you are not paying 10%, 12%, 22%, 24%, 32%, 35%, or 37% on your money after you accumulate $500,000 or a $1 million or TWO. (You can earn 10-12% a year over time.) There is no penalty if you need to take out the amount you put in so far. You may even be able to put your 401k in this shelter.

Buy before Congress changes terms: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

401k changes

GOP tax planners want to change the way 401k plans work. One change is building an annuity into the plans. Workers would no longer have to move their money to an advisor who profits from selling annuities. However, annuities are run by insurers and they want fees too. This could be good news for some but expensive for others. Another change is linking 401k plans to student loan payoffs. The U.S. has more than $1.4 trillion in student loan debt and Congress wants to make sure the bank loans are paid. The bill would allow workers who are paying down student loans to receive employer matching contributions into their 401(k) plans as if those student loan payments were salary reduction contributions made into the 401(k) plan. The legislation also applies to 403(b) and SIMPLE retirement plans. Another bill would allow companies to use up to $5,250 of employees' pretax income to pay down the employees' student debt directly.

Congress helps out the banks: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

The Cons of Roth IRA: When NOT to use Tax-FREE account

Expert Slott says there are circumstances when you are NOT better off using a Roth IRA. For most of us, the Tax-FREE account is still the best deal in town and you don’t need a lawyer or advisor to arrange a tax-free retirement. Any large mutual fund provider will set it up and invest your contributions in the low-cost funds of your choice or a Target Date fund based on when you retire. Since you will owe NOTHING on your IRA retirement income, you may not owe taxes on your Social Security benefits. SS income can be taxed up to 85% depending on other income. Converting regular IRAs into Roths (‘Back-door Roth’) is allowed no matter what your income. Roth IRA contributions can be used before age 59 ½ without penalty because you already paid tax on them. Consider how much tax you avoid: contributions of $3,000 a year for 33 years ($99,000) can earn over $1 million and the taxes on gains ($900, 000) at 22% or 198,000 are avoided. 

Perfect for most: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Is your employer taking too much from your retirement plan?

Another employer was caught charging employees more for their 401k plans. Brokerage firm Edward Jones agreed to pay $3.2 million to settle 401(k) fiduciary breach case. There were "superior, less expensive investment options" that plan executives should have chosen, the Tuesday settlement document said. Participants also alleged that the plan charged "excessive record-keeping fees." Some employers have not only failed to offer ‘superior, less expensive options,’ but have actually tried to profit from their employees’ savings for retirement. Some have received ‘kick-backs’ from the investment option providers. Instead of helping employees, they make employee-benefit plans a profit center. Check your plan: https://www.brightscope.com/ratings/E/.

Compare FREE IRA to plan: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

Medicare for all

The most heard objections are too expensive and you would have to wait to get treatment like in Canada, UK and Germany. Anyone who pays for their health care benefits knows that WE HAVE THE SAME THING NOW. Many of us who pay a lot for care (unlike millionaire Congress people and the TX judge who banned ACA) have put off care and waited because of the price. A new study says 30% of us do that NOW. If you have ever tried to obtain authorization for a treatment from a health insurer’s telephone clerk or tried to get a provider to guarantee they wouldn’t bill you but accept the insurance company payment ONLY, you know you are living with a bureaucracy just like the government. Every time I go to my PC doctor to renew my scripts, I have to sign that I will pay if my insurer won’t. Sometimes the firm that owns my PC practice will tell me I must make another appointment just to have them renew my scripts for diabetes and bp.

Let’s try a new way so my pre-existing is covered for the rest of my life without worry: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

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Make America, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions?

Truth isn’t truth, his lawyer

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

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

J F Kennedy was 43 when he beat Nixon

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

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

Shutdown 12/21 may cost $24 billion: Congress & prez on strike yet we pay again!

Trump to create star wars to fight future wars at $200+ billions—no wall needed.

14,700 kids in concentration camps held prisoner. Matt 18: 5-6.

Trump wants us to work harder for food especially when we are poor.

The Wall has $ millions in GoFundMe: Trumpers saving taxpayers $70 billions.

SCAMS/SPINS:

Our Border Patrol killed the first immigrant looking for asylum: MAGA?

TX judge cancels ObamaCare for millions in South: He keeps full coverage himself!

State Farm pays $250 million to car owners suing for inferior parts for crash repairs.

Trump got Putin to move votes and disrupt voters for Hillary. USSR worked for Trump.

Trump used his own charity for political and personal gain: wealthy folks don’t go to jail 

Trump made school lunches less healthy—more calories for obesity in kids?

Trump makes Christmas Eve a fed holiday—bolsters the base?

Trump re-promises Wall: now ‘it will save $ billions’. Fetish inscribed on his tombstone?

Trump: ‘mission accomplished’ in Syria—victory over ISIS? troops home for Xmas?

Trump and Putin on the same page: Would Hillary have cut and run? Putin feared her.

MetLife caught canceling pension payments for profit—client marked ‘dead’—no jail!

Eva Weinberg caught stealing from Dwight Freeney; in jail & Merrill pays fine.

Hector May NY caught stealing $11.5 million in Ponzi jail up to 25 yrs.

Edward Jones caught switching clients to high-fee accounts.

Merrill Lynch caught giving insiders best new stock deals. Fine no jail. We’d get jailtime.

Ameriprise caught failing to protect investors’ $1 million from theft. Fine no jail.

deVere USA caught using LinkedIn to steer clients to high commission tax shelters.

Jonas Knopf NJ caught selling fake health plans from fake insurers.

Pope tells child abusing priests ‘church not shield’ but already hid the horrific crimes!

Catholic Church covered up bishop accused of sex abuse of kids: no jail time.

We need guns for ‘protection’ and ‘hunting’ and our kids are dying from them.

Lynching is finally a designated a ‘hate’ crime: 3,450 blacks lynched 1882 and 1968.

Complaints against Kavanaugh dismissed by fellow judges because he’s now a Supreme.

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:

Miners Find Egg Sized Diamond In Canada's Frozen North:  552-carat yellow gem.

Congress avoids doing job to fund the government but still gets fully paid vacation.

Who owns your account now?

Best car for your teen for safe holiday under $10,000.

Why your Wells broker/advisor is cranky next year. Pay cuts to pay for $ million fines.

Vanguard merges 2 big funds to lower costs even more: Lower cost; earn more.

Amazon may offer banking & investing robo for Web gen. for a small fee/huge numbers

Age 71?—you have to take your RMD or face penalty by Dec 31—one week.

2.8% CD at banks will go up Fed says: https://www.bankrate.com/landing/cd-rates

Robots do weird things: Big Brother listening--conversation can end up at employer

Miracle:

Woman with lymphoma gets cured in 30 days changing T-cells: not for everyone.

Young people are our future: https://www.youtube.com/watch?v=KKOURwGufWk

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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