How is your 401k?

How is your 401k?

Fidelity published the average balance by age. Each of us is at different financial stages so averages don’t mean much. Most of us have SS benefits to add to our total. The average benefit today is $1,342 a month which will increase by a COLA if Congress passes an increase each year. The average monthly income that could be produced from the balance for a 65 year old ($200,000) is about $700 a month in today’s purchasing power. Unless we plan on receiving a pension of sorts or working longer, $2,000 a month from each spouse may not be enough. Plus, we all know that you can never have too much. We need to consider how we can improve our situation with tax-FREE savings. This parking lot attendant did it by following his Mom’s advice.

Now we can create tax-FREE income: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Why are wages the same as in 1985?

Inflation over the last 40 years has left most of us with the same Buying Power as of 1985 down from 1968. What happened? Automation and technology have left many jobs on the ‘shop floor.’ In 1985, as manager of about 40 people, I oversaw the computerization project of our entire process. My 4 assistants could make decisions immediately from weekly reports that told us what was happening (and wasn’t). Within 10 years, every change or entry made by now 20 staff since those in the field entered data once on a network computer and not reentered by my office staff. In my next job, I got the suppliers of our products to make the data entry. They streamlined the process so there were no more paper copies of customer contracts to be signed or filed. In my next job, most of the data entry was by the customer and by scanning bar codes. I no longer had a receptionist/secretary. I could run meetings and consult with direct reports by phone anytime day (or night, in a pinch). Meanwhile, my salary and bonus were doubled and my boss’ quadrupled. Today CEOs have compensation 500 times that of line workers—up 1,279%. The value we created per person using machines provided gains for senior execs and stockholders. Buying Power wages have not changed. We work 2 jobs.

I use an IRS-OK tax-shelter to keep more: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

Can we afford NOT to have Medicare for All?

The rate of bankruptcy has increased 204% since 1991 often because of health care costs. This 87 year old is going to be in the truck next to you in order to pay his wife’s medical bills. Is this what we want to do in retirement? There is enough money in America to pay for health care! It’s just sitting in the accounts of the top 10% fellow Americans trying to pay as little tax as possible. For instance, some of the Billionaires are paying only 17% total tax—about HALF the amount of the middle-class worker. Mitt Romney and John Kerry paid less than 15%. Most of the highest net worth Americans are paying a fortune to lawyers to reduce the amount they pay every year—using legal and illegal means. The IRS just gave the wealthy with money overseas a discount on their taxes if they declare with the Offshore Voluntary Disclosure Program. Trump and the GOP have proposed letting the wealthy delay paying the RMD tax. They allowed “junk” insurance to be sold which is cheap because it does not cover all expenses. The GOP continues to pay socialized supports to the oil gas agriculture and mining industries. So America can afford it if we chose: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584

How can you avoid SCAMS in financial services?

Wall Street is a ‘war’ zone! We must enter this war zone with the protection of knowledge. We could lose all our lifelong savings in one trade. Brokers and advisors have weapons that can 'kill' us financially. They are hidden behind lies, exaggerations, obfuscations and straight-out fraud like faking our signature. Half-truths and our assumptions and greed are also at play. These are our 'soft' underbelly targets. There are warning signs but most SCAM situations require us to be knowledgeable and to check every move. My first day as a manager at a security firm I was told: ‘brokers are [car] salesman.’ Our future life is at stake and yet we give strangers our money so easily.

Take Buffett’s advice: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender-ebook/dp/B07GZ1WSP1/

Wealthy take a dive into CLO again: mortgage loan disaster taught us nothing!

The superrich pouring $ millions into collateralized loan obligation. CLOs means possible bank failure again. They are after the possible double-digit returns. But dissenters have raised questions about whether the frenetic pace of sales is spurring reckless behavior just as the prospect of an economic downturn looms over an increasingly leveraged corporate America. Yes, history could repeat itself when you transform riskier company loans into bonds of varying risk and reward and then promote them with “every smart rich person owns them.” One promoter says “you only have issues if … you have losses.” Yes! These sub-investment-grade rating loans are mixed with equity so they may pay better if you wait. Returns on CLO equity can range from 12% to a remarkable 20%, standing out in credit markets where corporate bonds have delivered little or negative returns this year. Banks think they understand the risks just like last time. Remember we taxpayers had to bail them out—even foreign banks—and that makes bankers ‘adventure’ capitalists for FEES.

Protect your investments in a tax-FREE trust: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

We are paying an extra $14 billion a year in broker fees thanks to Trump

New report compares the fees we pay under Obama’s vs Trump’s fiduciary rules. The report examines the stock prices of 36 publicly traded brokerage, mutual fund and life insurance companies, finding they lost a total $14 billion in value as a direct result of the Obama fiduciary rule. It mandated that sellers offer the ‘best’ product to retirement account clients. “The profitability and value of investment firms is reduced by the inability to collect conflict-of-interest fees." In other words, firms did not receive $14 B in fees from us on our money during the Obama period. Obama saved us about $17 billions a year. This was mainly annuity commissions which are definitely NOT products in your BEST interest but in the firm’s best interest. Firms have plenty of costs that must be passed on to us one way or another. 

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

Will you owe tax penalty in 2019?

Trump’s new law is effective in 2018. If your property tax or state income tax is over $10,000, you are going to owe more because you can’t deduct these taxes anymore. If you are used to deducting employee expenses and 9 others, you may also owe. The IRS notice 182 says you may have a penalty if you owe more than $1,000 next April. Individuals, including sole proprietors, partners and S corporation shareholders, may need to pay quarterly installments of estimated tax unless you owe less than $1,000 when you file your tax return or you had no tax liability in the prior year. Other taxpayers who may need to make estimated payments include someone who:

• has more than one job but doesn’t have each employer withhold taxes.
• is self-employed.
• is an independent contractor.
• is a representative of a direct-sales or in-home-sales company.
• participates in sharing economy activities where they are not working as employees.

Make estimated payment by Sept 17 with Form 1040-ES page 11.

Start your tax shelter now: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Insurers want to put annuities into 401k for more fees

Pro: They argue that annuities are the “only savings vehicle that carry a guaranteed, contracted, lifetime income stream, outside of Social Security and pension benefits.” Con: 401k accounts already delay taxes on the gains. Annuities costs are high compared to the alternative—IRA which also delays taxes. The IRS already mandates a lifetime income stream. It is called an RMD calculated by your IRA trustee who doesn’t charge for this service. IRAs are protected from creditors like annuities. The guaranteed benefit misses the point of having income for life. The income is usually cut in half because of inflation. You may begin with $1,000 a month at age 65 but it will buy HALF the goods you need by age 85. 401k accounts are run by your employer meeting certain fiduciary standards. Annuities are not. To guarantee a lifetime income stream is a process best left to an experienced planner over time so you can make adjustments to your investment mix as needed. Annuities protect insurers not you.

Don’t give up 3% annuity fees: https://www.amazon.com/NO-Cost-Annuity-Years-Income/dp/1508487308

Where is your increased income?

Census says: Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans. The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less. But the nerds say median income last year was not statistically different from 1999 or 2007. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars. Here is the rub: “The extra pay from having another person in the home working is the largest factor contributing to the increase in income.” Our wages did not go up! We are just working more hours. Americans living in official poverty stayed at over 12%. Remember, earned income is the Gross number not cash in pocket. Our health care costs went up. Fewer people can afford a house or rent because property costs have ballooned. Young people with school loans went back home since they can’t afford the basics of family life. And the worst is yet to come: Who will pay for the $1.3 Trillion deficit this year? Not the wealthy! Most of the tax breaks mean they will pay less in the future: $21.3 Trillion.

Avoid their taxes legally: https://www.amazon.com/Pay-No-Taxes-in-Retirement-legally/dp/1507527977

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Make America, “The Don”, Great Again

Senile Psychosis

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

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

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

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

Trump keeps 177,000 troupes in Syria, Afganistan, Korea, Germany, etc etc. $700+ B.

Trump follows Putin lead to raise retirement age—‘Save’ SS by cutting benefits-old song

Trump EPA to allow more methane to heat up the atmosphere for more hurricanes/floods.

Trump subpoenas every NC voters’ records--20 million to stop votes for Dems. NC: NO!

GOP still not reform flood insurance: Florence hits east coast. Trump to help whites more

SCAMS/SPINS:

Don’t fall asleep in class: Student got tasered for falling asleep in class in Smithville OH

Drug companies say hospitals jack up prices of drugs in hospital 500%. Hospitals say …

Paltrow ordered to stop making false claims for her Goop stuff.

GM recalling 1 million trucks/SUV for power steering faults.

MyPillow told to stop making false claims for his stuff. Fine $1 million; still false claims.

Neurolumen sued for false claim on PTSD, MS, fibromyalgia pain.

Stream’s deceptive marketing of business opportunities attacked as false.

Doctors give out opioids like candy— no diagnosis no reason—except drug firm money!

How is 2,975 dead in Puerto Rico an "incredible unsung success"? Trump takes $10 mil.

SII caught failing to supervise sales of high fee illiquid real estate investment trusts. 

Barry Honig & others caught in microcap “pump-and-dump” schemes taking $27 million

Edward Daniel lost license after 41 years: unsuitable investments 2011 and 2015.

BB&T caught hiding wrap fees--overcharging clients $635,535; not disclosing conflicts

Cadaret Grant Co caught selling leveraged oil-linked exchange traded note & annuities

Luke Eddy MA caught impersonating client and forging her signature.

Market timing is back in vogue: Stock sellers like August trading for a change.

Emil Botvinnik Jovannie Aquino caught trading $3.6 mil client loss --$4.6 mil fees.

Citi caught overcharging retirement plan and charitable organization customers.

Timothy Ayre MA caught selling HempCoin an unregistered cryptocurrency security.

GPB Capital Holdings illiquid private placements investigation by MA: 4,000 at risk.

FUTURE INCOME PAYMENTS sued for claim “not a loan” when are loans hi interest

Jeffery J Kelly caught failure give docs re: unethical behavior so barred from industry

Insulin prices doubled to pay for CEOs $ millions pay packet

Health care scams double: low-cost Trump plans offered—premiums buy no coverage.

SS scam: fake SS official asks for info or tells you to send gift card to reopen account

TX cop kills neighbor in home—I thought I was home. Door Keys? Wrong Floor?

When we all have guns for ‘protection,’ who will police shoot first? Safe in your home?

               police shoot owner who already shot intruder. Kids will have plastic killer guns?

Jobs:

Prepare for a good job: 25 jobs trending to $100,000 plus

Health care hires thousands per week as more in Medicare plus new procedures

Work at home scam or real gig? 10 jobs to try for experience and money.

Ford cancels production move from China to US: no profits on Focus built here.

Poll: 2/3 people think automation will eliminate jobs for ordinary folks soon.  

How many more decorated national security officials alienated by Trump?

Who owns your account now?

Ohio National stops selling annuities: "It's a declining market," expert says.

Home or Rent: A challenge and the duplex solution.

Retirement accounts target of cyber crime: protect your account.

ACA in WV provided health account for 189,000 uninsured: don’t know its ObamaCare

Miracle:

Ruby slippers located in FBI sting: $1 million insurance finder’s fee.

Uninsured for health falls again from 48.6 million to 28.3 million Americans

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Why send your taxes to states that don't want them?

Why send your taxes to states that don't want them?

Many of the red states take more of our tax dollars than they pay in. If they hate the federal government so much, why are they taking all the money? If Texas wants to succeed, why rely on my taxes to do it. See your state:

http://finance.yahoo.com/news/states-givers-takers-152624695.html

Best time to start an IRA?

Parents can guarantee their child a future when they start their first job (even chores). You can match your child’s earnings in a Roth IRA and give them a head start on college, home, business, a brighter future. With each $100 they earn, you can place $100 in a Roth IRA. If they have $12,000 in their Roth by age 21, it could grow to a $1 million by age 66. Better than child life insurance. If they keep adding to your gifts, they could have $70,000 in 10 years, $200,000 in 20, and so on. They can even borrow from their Roth for emergencies with no tax or penalty. Start today: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Need health care insurance?

If you were just laid off or are using a COBRA policy, you may be able to take advantage of the ObamaCare subsidies for a policy at substantial savings. For those who still have COBRA coverage, purchasing coverage on the marketplace could save thousands of dollars a year. Under COBRA, you pay the full cost of your old employer’s coverage. Through Obamacare, individuals and families can purchase coverage that, depending on their income, could be subsidized by hundreds of dollars a month. Call 1-800-318-2596 to activate the special enrollment period and tell the representative that you are calling about their COBRA benefits and the marketplace. If determined to be eligible, they may shop online or over the phone. They are allowing special enrollment periods for those whose individual market plans are renewing outside of open enrollment and for AmeriCorps, VISTA and National Civilian Community Corps members. In addition to the special enrollment periods, the Affordable Care Act also permits people to shop for coverage if they undergo significant life events, including loss of a job, divorce, marriage and birth of a child, among other things.https://www.healthcare.gov/how-can-i-get-coverage-outside-of-open-enrollment/

NJ pays highest health care premium

New Jersey customers had the highest average monthly premium for family plans, at $987 a month. For individual coverage, New Jersey shoppers chose plans with the third-highest price tag — $346 a month — below only New York and Massachusetts.
One factor driving those high costs was their choice of policies with lower annual deductibles. The average deductible for a family plan chosen by New Jersey customers was $3,912 — the second-lowest behind onlyMassachusetts. By comparison, deductibles chosen by residents in Alaska, Illinois and Texas topped $10,000. Offering more people health insurance could save tens of thousands of lives nationwide in the coming years, a new analysis of data from Massachusetts, whose trailblazing reforms became the model for President Obama's health law, suggests. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

Supremes may force lower 401k fees

A long-awaited case about employers’ duty to offer low-cost mutual funds in their 401k may be heard this year. The U.S. Department of Labor calculates that a 1-percentage-point difference in costs for a 35-year-old worker could reduce a retiree's account balance by 28 percent at retirement age. The case charges that California-based utility Edison International (Tibble v. Edison International) offered mutual funds carrying retail share price fees, when the same funds could have been had at lower institutional prices. The higher expenses paid by plan participants were shared by the mutual funds and the plan's record keeper, the lawsuit charges. In turn,Edison allegedly received a reduction from the record keeper in the fees it pays for plan administration. Pension funds usually pay less than 0.25%. Check your fees: http://www.brightscope.com/

If your employer does not match your contributions, you can buy a tax-FREE retirement with costs under 0.20% not 1.5%: http://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157

GOP Crazies say ObamaCare healthcare=Holocaust death sentence

“Democrats bragging about the number of mandatory sign ups for Obamacare is like Germans bragging about the number of mandatory (sic) sign ups for “train rides” for Jews in the 40s,” TN State Sen. Stacey Campfield.

GOP Crazies pass laws to ban car-sales competition in MO, NJ, TX, AZ

The challenge in Missouri comes as Tesla appeals New Jersey’s March decision to ban direct auto sales by manufacturers and the company works to keep selling Model S sedans at its Massachusetts stores. While Texasand Arizona also bar direct sales of Teslas, the Palo Alto, California-based company worked out arrangements inOhio and New York this year to keep selling in those states.

And the GOP says it wants FREEDOM from regulations?!?

Insurers say most applicants have paid ObamaCare premiums

Paul Wingle, the executive director of exchange operations and strategy at Aetna, said: “As of the third week of April, Aetna had over 600,000 members who had enrolled and roughly 500,000 members who had paid. GOP commentators were claiming ObamaCare failed again.

GOP House committee says climate changes not linked to humans

The House Energy and Commerce Committee Tuesday voted down by 2 votes an amendment that would have stated conclusively that climate change is occurring. For the sake of coal and oil company profits and House members’ campaign coffers, the world will lose millions of miles of coastline from 53 meters of rising water sooner than they think.

IL drivers pay more

State Farm, Illinois' biggest car insurer, plans to raise its auto rates in the state by an average of 2.3 percent starting May 26. Shop and use your discounts now: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

BEWARE: UBS out to take more fees from your accounts

CEO challenges brokers to do more lending and boost margins. UBS chief executive Robert McCann raised targets for the firm's 7,100 financial advisers, saying lending and managed accounts would boost profit margins. A critical component was increasing the number of advisers providing clients with high-cost mortgages. Also the goal is to have more than 40% of client assets in managed accounts in the next three years, he said. Managed accounts have high fees no matter how much you gain or lose. UBS wants to cut the expense of paying brokers to move from other banks.

Use Buffett’s strategy and avoid high fees for poor returns: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

The Patience Way to Wealth The Wealth Tao: Wu wei (Do Nothing)  by Zhou Wang

Patience is important in life and in building wealth. Most investors are not patient so most investors are not wealthy. In fact, the average investor earns only 2.56% annually according to DALBAR’s annual Qualitative Analysis of Investor Behavior. Mr

Buffett's strategy of patience is the most successful. He earns about 20% a year compounded over time. “The stock market is a device for transferring money from the impatient to the patient.”      Warren Buffett

Try the patience way to wealth: http://www.amazon.com/Wealth-Tao-Wu-Wei/dp/1499351348/

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.

Are we preparing for WWII again? There are 1,208,083^[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

We just can’t afford to pay for everyone else’s defenses anymore.

Our tax money, $1 billion to Russia for helicopters ship to Afghanistan?
Can you believe our ‘reps’ are so stupid? Lobbyists win again. No bid contracts. OMG

We make great helicopters in PA. Let the Afghans buy their own f___ helicopters.

Why using spy plane over LA? Are there skinhead missiles there?

A spy plane was responsible for a computer glitch that caused air-traffic chaos in western US states last week, the Federal Aviation Administration has revealed. The meltdown occurred when software incorrectly thought the plane was on a collision course with other airplanes. The system was overloaded as it struggled to plot new courses for affected aircraft. Hundreds of planes were grounded at Los Angeles International airport.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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