Where has your advisor left you in 2022?

 

You can still afford to retire

Repairing your financial future can be done in steps. Take stock of where you are now before 2023 so you can use tax credits/deductions before 2022 is over. Consider some of the changes in retirement contribution limits and tax credits for 2023. For instance, Congress is still considering changes in refundable credits. Recent stock market history implies that we may see a large bump up in portfolio returns in 2023-24. Be ready to take advantage of those gains to catch up with your retirement plan. Many investors forget that once out of the market to try to avoid the downturn, they may miss the quick upturns that can happen in a 10 day lurch. Save money like billionaire Warren Buffett. Invest your tax refund for a $1,000,000 retirement fund in 35 years.

Use tax-FREE account: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

 

Deduct $3,000 from your income; reduce tax

Before Dec 31, you may be able to sell some of your losing assets which allows you to deduct up to $3,000 this year from your income. I sold $3,000 of my Vanguard 500 Index since it is down for the year. I kept the rest since I know it will rise in future months. I don’t know when it will rise but I can afford to wait since I don’t sell in a panic and I am fully diversified. Look at the history of the market returns: 2008  -37.22; 2009    27.11; 2010    14.87; 1974    -26.95; 1975    38.46. Since I started investing in 1971, the market is up 12.69% a year on average. That beats CDs, bonds, real estate, gold, speculation of any type. Even in bad times like 2022, no fund has beaten the market index. Our government allows us to deduct the loss at $3,000 a year, every year until we have deducted all of our loss. So join the Tax-Credit class.

Pay less tax like the millionaire class: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

Where has your advisor left you in 2022?

The financial services industry (your broker and advisor) did very well this year. BUT:

The average retail investor's portfolio is down 30%, compared with the S&P's 17%, according to Vanda Research. Tesla accounts for ~10% of the average active retail trader’s portfolio. So as the stock plunged ~55% this year, it wiped out $78 billion in value for retail investors, per Vanda." Overtime, these are the best market sectors even now: https://www.businessinsider.com/forgetful-investors-performed-best-2014-9.

In 30 years the average investor earns just 3.79%, not the 10-12% market rates. (QAIB)

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

 

How much of our charity donations can we deduct on our tax return?

Americans have always been known to be generous. However, the least able group to give (by income); gives the most as a percentage of their income—over 8%. The wealthy give less. The superwealthy obtain the deduction but retain control of who benefits. They use donor-advised funds and foundations to control who gets their charity.

IRS: deduction amount and average percentage of AGI:

 Under $50,000 $2,588 deduction == 8.4% of income

 $50,000 under $100,000 $3,305 == 4.5%

 $100,000 under $500,000 $5,124 == 2.9%

 $500,000 under $2,000,000 $25,510 == 3.1%

 $2,000,000 under $10,000,000 $164,814 ==  4.4%

 $10,000,000 or more $2,813,343 == 9.3%

All returns $6,332 == 4.3%

https://www.amazon.com/Most-U-S-Corporations-Pay-No-Taxes/dp/1514274116

 

 

Most frequent cited financial regrets by retirees

1. Not working longer. 2. Not having insured income. 3. Claiming SS benefits too early. 4. Becoming financially dependent on others. 5. Not accumulating larger retirement fund. The most influential factor was shocks experienced earlier in life (e.g., divorce). The present paper considers different explanation for financial regrets--people may simply not understand how long they will live in retirement, leading them to make suboptimal life cycle financial decisions. Make your plan now.

https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Parallels of this era in the past may hint at our future: democracy breaks apart legally

 

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

Billionaires paid $881 million for votes in 2022 midterm elections

 

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 was “detached from reality”

 

Trump used mafia-style intimidation on the defenseless

 

Parscale: “a sitting president asking for civil war.”

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta: Two Americas

 

Trump: President Biden is 'enemy of the state'

 

Christian Nationalist Party (CNP) replaces GOP

 

Nov 8 2022 Trump’s “national revolution” failed

 

Nov 15 2022 Trump announces for 2024 to avoid lawsuits

 

Dec 3 2022 Trump: cancel Constitution rules so ‘I win’

 

Jan 2025 Dictator pardons himself: his Supremes agree

 

 

How Govt wastes our money:

1966 moon capsule splashdown in ocean: repeat moon shot wastes $93 Billion

Our tax money given to GM and LG to make lithium batteries? in OH TN MI

Buttigieg, transportation, often flies on taxpayer-funded private jets: fears confronting

 

NASA loses control $252 million ICON satellite, fears failure: no refund

Fentanyl is now the leading cause of death for Americans ages 18 to 49

Biden stops Sanders bill to stop helping Saudis kill Yemen citizens: leverage oil?

 

Biden tries to cut inflation by cutting jobs not excess profits and tax avoiders

 

SCAMS/SPINS:

Financial aid letters don’t reveal the real cost of college: fees, charges, costs added

Fisher Investments: “make money only when you make money” except fees every month

Fraudster Sam Bankman-Fried's gave $20 million to PACs and parties: Fights extradition

 

SCAM: Don’t click email with any of these subject lines in your inbox

8 fake traders CA,TX,NJ caught “pump and dump” scheme 2000: stole $100 million

Lawrence Billimek Nuveen, Alan Williams trader caught insider trades: net $47 million

Trump to pay for crimes by selling pictures of himself: $99 each: not rich anymore

 

We have done nothing about killing our children: 20 at a time in school: WMD are legal!

Glock switches have the ability to shoot 35 rounds in five seconds: TX machine guns

3 terrorists get 10-12 years in prison: kidnapping gov over mask mandate to save lives

 

TX to round up data on LGBTQ citizens: gender change records taken

 

Trump’s co-conspiracists plan to use our military to overthrow duly elected government

Trump’s to pay $4,000 fine for “willfully disobeying” four subpoenas: no deterrent!

D.C. Bar lawyer calls for Giuliani’s disbarment: filing suits to overturn gov is wrong

 

Twitter: don’t use it for biased news: one megalomaniac is enough:

Supremes’ decisions tilt toward Christian evangelicals: constitution says no favorite faith

 

 

Jobs

jobs-that-let-you-set-your-own-hours

 

Who owns your account now?

Best energy system: Heat pump vs Solar panels—pro & con

Start withdrawals from IRA, SIMPLE IRA, SEP IRA, retirement plan when you’re 72

Even Artificial Intelligence models can’t beat the low-cost index fund

40% dads believe parents hosting adult children is bad while only 12 % think it’s good

 

Miracles:

Picture worth thousands: https://twitter.com/DavidCayJ/status/1600229045387419648

How brain physics Distinguishes Memories From Perceptions

Winter Olympics may have to be held in Antarctica: global warming forces sites studied

Church turns into garden club; food pantry as people skip pews: do good works

 

Moderna's mRNA Skin Cancer Vaccine Shows Early Promise in a New Study

Arctic is Heating Up, Disrupting the Planet and Local Communities injured

Fusion experiment had net gain in energy but forgot to add energy to charge lasers

 

 

 

 

@

 

Our Universe is Mind-Blowing

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

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

Everything (galaxies to stones) in universe made of subatomic energy ‘vibrations’

A subatomic ‘particle’ is the smallest possible vibration (quantum) of a quantum field.

 

Mass–energy equivalence: E=mc^2.  At the smallest level; Everything is moving a little

Energy into matter: scientists converted light energy directly into matter in one step

Physics Nobel Prize: “entanglement” 2 particles share info instantly at a distance

“It may be that gravity and quantum mechanics are exactly the same thing,” Leonard Susskind

Gravity might induce the collapse of quantum vibrations into 1 quantum state—our world

 

There is no TIME at this level because of force fields come and go in all directions. 

Universe expanding: events may not come together like they did before.

Inside protons, neutrons, it is the fields of the virtual particles that creates its mass.

“Empty space is a boiling, bubbling brew of virtual particles that pop in and out of existence in a time scale so short that you can’t even measure them.” Space expanding.

The electricity we use comes from the field around the wire not from election itself.

Scientists build 'baby' wormhole as sci-fi moves closer to fact: inside quantum computer

 

 

 

@

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/

 

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/