Why Wall Street predictions are all wrong

 

Why Wall Street predictions are all wrong

The predictions financial gurus make are not reliable for your decisions. They are for circus “barkers” to attract your hard-earned cash to fuel the financial industry. Wall Street pundits’ predictions — like where the market will be in a month or a decade — is “mostly baloney,” one TV observer writes. Most people are terrible at predicting the future. That’s true of professional stock pickers too. Economists are really bad also. They have a terrible track record of predicting the economy, and the Federal Reserve has a terrible record of predicting the U.S. GDP a year [ahead]. “Wall Street refuses to acknowledge that stock forecasts don’t work because there’s too much money in forecasting,” Bob Pisani says. Traders say managing losses is more important than managing gains. But if you are not a trader, you need to “know your limitations.” His advice: behavioral biases are extremely powerful mentally. It’s very hard to shake them even when you understand. Pisani was asked, “Why don’t you hire a financial advisor?” Why do you think they’re better? Why do you think they don’t have biases? His conclusion: use low-cost index fund. They don’t have personal biases and they minimize losses.

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

 

Saving a million dollars

21,951,000 people in the U.S. have a net worth of $1 million or more. Among all states, New Jersey has the most millionaire households. Only 3% of American millionaires received an inheritance of $1 million or above. Real estate makes up about 40% of a typical millionaire's net worth. 79% of millionaires did not receive any inheritance from their family or relatives. 8 out of 10 millionaires come from low-income families. So it is possible for you to grow a $ million. The secret is not inheriting or inventing a better mousetrap. The secret according to Warren Buffett: compounding interest. Over time, your $250 a month becomes $1,000,000 from compounding not high salary. Only 31% of respondents surveyed had a $100,000 annual income at some time in their careers. One-third never made $100,000 a year at any point in their career. Many millionaires have a significant percentage of their wealth tied up in their primary residence. $250 a month, $3000 a year (average tax refund) becomes $1 mil in 36 years: $51,000 in 10 years, $104,000 in 15; and $191,000 in 20; $334,000 in 25; and $569,000 in 30; $957,000 in 35 years. Compounding adds $50,000 in the last year on average. Total invested: $108,000; total capital gains $952,454. You became a millionaire by earning 9 times your savings. You do it by using the only consistent market-beating mutual fund.

Start early: https://www.amazon.com/Where-can-your-child-invest/dp/1492164240

 

Can you still grow a retirement fund if you start LATE?

Every saved and invested penny counts in retirement unless you love to work. Many retirees still love to work at a reduced pace as long as they do what they love. If you are a teacher for instance, you may have had enough during the pandemic and are ready to change jobs. Some love working with kids and kids/staff are back face to face. It is never too late to start. You have decided to get serious about saving for your future. You are at a great advantage. Right now the stock market is down 17% for the year. This means you can buy a stock or mutual fund that cost 25-40% less than it did last year. For instance, Microsoft is now $244 not $334 and the stock index is at $393 not $480. Historically, important stocks and the market index have recovered in about a year. Since you are buying during a sale, the value of your account will reach a greater value so you can retire with retirement income. Using your company 401k low-cost index account gives you the advantage of growth without immediate taxes. Your fund compounds faster since your full contributions grow. If you avoid taxes and advisor fees, you could accumulate over $300,000 in 20 years adding $400 a month. If your employer matches some of your $400, you can reach $400,000. Since you are not going to take the full amount out the first day of retirement, you may be able to reach $500,000 after you stop working.

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

 

Stock pickers lost your money

A new study of actively managed mutual funds by S&P Dow Jones Indices asked that question and came up with a startling result. It found that not a single mutual fund — not one — managed to beat its benchmark in either the U.S. stock or bond markets regularly and convincingly over the last five years. Why? Costs. Experts who are not hyping their own businesses agree that “an investor can expect to do better by holding a well-diversified, low-fee, passive index fund than by holding a few stocks.” Over time, no one Wall Street ‘professional’ is consistent enough NOT to cost you earnings. In fact, if you are paying them from your account, they may be taking up to 63% of what you would have had. In fact, Dalbar, the financial scorekeeper found that the index provides 11% return over 30 years while the investor using pickers’ funds earns only 3.79%. That is a huge loss to you. Especially in your 401k plan, mutual funds that pay rebates plus direct fees reduce your net gains drastically over time. Costs matter!

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

 

Can you safely take 3% or 4% from your egg during inflation?

There are advisors who advocate different rates of spending from your nest egg. The two most popular are 3% or 4% a year. Using the historical market data and $1 million retirement fund, this analysis says “the 4% rule does work most of the time, but watch out for periods of high inflation. Don’t blindly take out 4% a year when inflation is high and your portfolio performance is low. The 4% rule may be something like 95% effective historically, but being flexible with your withdrawals will prevent complete disaster even if you are in the bad luck 5%.” I take this advice of “being flexible” as the best advice available from the analysis. Since I have a mostly qualified retirement fund, I must withdraw a mandated RMD of about 3.2% of last year’s lesser total accumulation. If I need more income, I take out some of my losing cash account stocks. Let winners run.

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

 

Wealthy learn new ways to avoid taxes in MA

MA has passed a new tax on millionaires. Millionaires are paying big fees to their accountants and advisors to escape the tax before they get the bill. They tell them 1 that if your income is over $1 million, you could try to receive some before the end of 2022 instead of in 2023 when the tax goes into effect. 2 spread income over time so you don’t exceed $1 million. 3 use 1031 exchange to postpone tax on a rental property gains. 4 move out of jurisdiction. Many states are run by millionaires and billionaires and thus are unlikely to ever tax millionaires. If your $ millionaire status is because you may receive a one-time bump, your accountant may already have ways to keep the income out of your 1040. Many business people use their structure to show income in different ways. This may help them avoid taxes like our former president did.

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

 

 

 

?**********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 ‘I win’

 

Jan 2025 Dictator pardons himself: his Supremes agree

 

 

How Govt wastes our money:

Facial recognition at the airport: gov claims not making national database

New bomber @ $750 million each: 100 ordered to kill everyone in the world.

Tax changes for 2022: avoid filing paper return do to fewer processing staff

 

Trump Org guilty of tax fraud: Trump signed check to evade employees taxes

Meet the people who actually make US laws so their bosses can profit more

Drop in labor costs points to private sector profits as a main driver of inflation

 

SCAMS/SPINS:

BEWARE: St. Louis banishes people from swaths of city: punishment for petty crimes

15 yr old canvasser for Sen. Warnock shot in Savannah: democracy on the line

Discrimination in name of free speech: Christian Nationalist web designer hates gays

VA restaurant refuses to serve Christian conservative’s event

 

RoboCalls: almost all our phone calls go to https://nomorobo.com/: cancel land line?

AT&T caught selectively leaking financial info to Wall Street analysts: fine no jail.

Tesla caught deceptively marketing its driver-assistance systems: more complaints.

 

BEWARE: Tesla Semi may not see you slowdown or passing.

Hertz caught getting renters arrested for theft due to poor tracking: fine no jail

Hackers linked to Chinese government stole $20+ millions in Covid benefits

 

TX bans TikTok on official work machines

MiddleMen want $30,000 to see Swift: Handel’s Messiah in a historic Cathedral $40

Eight universities partnered with online sports-betting companies: 2^nd student loan

Trump took/hid more state secrets in his storage unit West Palm: selling to pay taxes? 

 

Another church hides sex abuse so no perp is arrested: sex in the name of God

Child abuse doctor indicted in jail: priests bishop minister abusers never indicted-run free

Rage: 40% drivers admit they carry gun while on the road: 50% knife; 45% pepper spray.

WV may have drug users sterilized for reduced sentence: “reduces drug babies”

 

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

 

Another Trump-style dictator coup fails: Peru Castillo tried to dissolve Congress

German terrorists seeking to overthrow the state caught: they are everywhere

US says Saudi prince beyond law: killing reporter is OK since prince of oil exporter

 

Jobs

On the move: 24% of U.S. homebuyers looked to relocate to new cities

Remote jobs are in demand, but positions are drying up

10 college degrees that job seekers regret obtaining

 

70,000 new staff members over the next five years in financial services: $50K - $130K

 

Chip maker Phoenix factories 13,000 high-tech jobs, 4,500 TSMC; rest by suppliers.

Warnock projected to win Georgia's Senate runoff on Tuesday

Warnock for 2024?

 

Who owns your account now?

First solar electric car: charge every 2 months or leave in the sun

Tesla self-drive RV semi gives you portable home that drives you there overnight

Why our family can’t afford a baseball game: $360 million pay for 1 player

 

Miracles:

Unemployment income exclusion: IRS sent letter 12/2/22

We’re Blessed: recent scientific research suggests that life in the universe is rare. 

‘Walnut Queen’ Broke Lots of New Ground: when you think you have difficulties

First early screening test for pancreatic cancer: urine tested in dish

 

Trump’s Supremes consider end to voter-decided elections: state pick electors a la Trump

 

 

Zelensky: TIME 2022 person of the year: Sell mags: Trump 2016 person of the year?

Women of Iran: TIME 2022 Heroes of the year

Griner free in prisoner swap for arms dealer

 

Hurricane erosion reveals 1800 shipwreck on Daytona Beach

CA homeowners losing their water to growers’ wells in the Central Valley

Covid death up: Vaccines for Holiday celebrations: https://www.vaccines.gov/

 

 

 

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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

 

 

 

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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/

 

Make sure you have all your tax documents before you file

Make sure all your tax documents come before you file

Since there is no enforcement of tax document mailings by mutual funds, banks, brokerage and advisors as well as employers, check last year’s filing to make sure you have everything to file BEFORE you go to your preparer. Few keep the deadline of January 31. Call IRS if not by February 28. If you have a kid in college, make sure they do NOT take your dependent exemption themselves. They don’t need it to get their job withholding tax refund. You need it to claim deductions and an extra $500. Kids should check the box “Someone can claim you as a dependent.” https://www.irs.gov/pub/irs-pdf/f1040.pdf. When you are ready, IRS has efile partners that have easy software programs that may allow you file for FREE. Some charge depending on your state and level of income. Most will cost less than the advertised brands ($50+$30) unless you must use a paid preparer. Trump has doubled the number of forms required to file many middle-income returns so the average price will be higher. And you won’t pay a penalty if you paid 85% of what you owe. Many of us will pay MORE than Trump promised since the wealthy and corporations pay less. January 28 is the first day of FREE ‘human’ preparation by AARP tax-aides. Make sure you have all of your docs: https://www.irs.com/articles/tax-form-checklist. Sign up at locations near you: https://secure.aarp.org/applications/VMISLocator/searchTaxAideLocations.action.

Long term care policies benefits and prices vary by 243%

If you are wealthy you may not need a policy. If you are NOT wealthy you may not be able to afford this coverage. You can buy from a new insurer with better understanding of the cost profile. Most advisors say buy at a younger age and change the benefits to meet your needs. Great for them but how to cope with increasing prices for what may be a very long time—age 55-85 means 30 years at $3-4,000 a year. AND you may not need coverage. That’s $100,000 wasted cash vs. $500,000 invested at 8%. Unless you know you will need it soon, you may be better off paying cash when the time comes. $4,750 to $2,500 per year LTC policy prices vary greatly.

Shop around: https://www.amazon.com/Long-term-Care-Insurance-Updated/dp/148274001X

A pathway to health care for all

CA new gov proposing extending ACA ObamaCare to insure more residents. This incremental move may light the way for other states concerned for its citizens. Newsom uses state funds to fill in the gaps for those without coverage and ignores the mandate. More carrot and less stick may help CA do what others haven’t up till now. About 10% of its non-elderly population lacks coverage. A study last year projected a steady rise, finding that Republicans' Obamacare sabotage and other factors would increase the un-insurance rate to 13% by 2023, with about 1 million more uninsured Californians, barring a policy shift. Massachusetts has its own mandate and subsidy program, and it has the lowest uninsured rate in the nation. Families are working hard to pay medical bills but still need help even with 4 part-time jobs and working mom.

Buy only what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Are ‘Target Date’ funds right for you?

A recent survey of employees enrolled in TDF shows they are misunderstood. The industry does its best to keep those with low pension balances in the dark. The industry is a for-profit one and has no interest in explaining this low-cost high-return strategy for retirement funding. Instead of showing how this option gives employees the best shot at a successful pension fund, working folks have the idea that this strategy will assure a safe retirement income, will never go down, is guaranteed by the government and becomes a cash asset in retirement. Workers do know TDF asset allocations shift from stocks to bonds over time. Most employees have had no investing experience and so if their 401k default is TDF, they never learn what they really own. Employers are not in a position to teach investing and the fund complex they use has no responsibility to provide this service. Employers have all but abandoned paid worker pensions. And no one has stepped up to provide the basic financial education all of us need at our first job. https://www.amazon.com/Financial-Literacy-Steps-Success-Money/dp/1491044616

Avoid double taxation when you inherit an IRA

When you inherit an IRA from someone, you need to know the amount they contributed over the years as after-tax non-deductions. Since IRA accounts have been around, contributors who wanted to keep on investing even without current tax deductions because of their incomes, were able to keep building their retirement nest egg. If they started taking distributions mandated by the IRS as RMDs at age 70 1/2, they had to calculate the amount to exclude from taxation as regular income since they had already paid tax on the contributions. They should have filed a form every year (Form 8606) keeping track of this so called ‘basis’—the amount they already paid tax on. The financial trustee for this account never had to keep this information so you as the beneficiary must go back into the tax records to compute the excluded ratio. Otherwise the IRS will treat the whole distribution to you as taxable at your rate. The last tax return should have the Form 8606 so you and your tax preparer can take it from there. Of course, now we have the Roth IRA which shields all the growth in your IRA contributions from taxation. Use the Roth for your current investing or convert your old IRA to the Roth for totally FREE distributions when you take them. You do not have to take them so they are the perfect working-person’s estate plan. Heirs pay no tax.

Use the best for your heirs:  https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

What did John Bogle give us?

John Bogle died Thursday. John Bogle created The Vanguard Group—the mutual funds owned by us—the investors—at cost, so we could keep more of what we earned. At work in a financial firm one day, he responded to the fall of his clients’ accounts by noting that speculation was not in the best interest of the firm’s clients. Bogle fixed on the role of a firm as steward of the clients’ funds. In 1976, his new firm introduced the index fund to individuals. Indexing was run by banks for some large investors. In 1977, Bogle stopped selling funds through brokers. The company eliminated sales charges and became a pure no-load mutual fund complex—a move that would save shareholders $ billions in sales commissions and fees—increasing their gains. Stewardship is the attitude of salaried workers at Vanguard which is now the largest provider of funds to investors. Noted economist, Paul Samuelson ranked "this Bogle invention along with the invention of the wheel, the alphabet, Gutenberg printing." Jack Bogle’s legacy is rooted in the concept that investing should be conducted solely in the interest of investors. Bogle’s single mindedness on fiduciary stewardship finds its meaning in the company he founded, the (low cost and simple) product strategies and corporate governance reforms he champions, and the nine books he wrote. The industry has followed Bogle’s lead—almost every investor is now paying less and earning more because of this industry disruptor.  See attached.

Industry disruptor--Pay less; earn more: https://www.amazon.com/Disruptors-Three-Innovators-increase-WEALTH/dp/1720857563

Real estate moguls lick their chops at Trump’s ‘opportunity zones’

Trump did Jared and friends a big favor. Moguls who develop real estate or fund businesses in these areas are able to defer capital gains on profits earned elsewhere and completely eliminate them on new investments in 8,700 low-income census tracts. The goal is to reinvigorate these areas. But the question is whether the 2017 tax law will, as Mogul Mnuchin predicts, pump $100 billion into places that need it most, or if investors will play it safe by funding projects in a few zones already on the upswing. But like most deals, there are hidden terms. Investing in a relatively illiquid partnership or corporation with the intent of holding the investment for as many as 10 years in order to maximize the available tax benefits requires a strong conviction regarding the merits of the investment itself. Some areas are just not ready for money without people. And state tax codes may not help. The Federal tax benefits don’t exist until the property is sold—no gains; no deduction. And be careful about rolling over their eligible gains into a QOF within 180 days. The rules are complicated.

Use your simple tax credits first: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

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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

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

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

J F Kennedy was 43 when he beat Nixon

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

Sec. Defense, former Boeing exec, OK paying too much for Boeing tanker for AF. Graft?

Mortgage approvals delayed by gov verification on hold; IRS, VA and FHA closed.

SCAMS/SPINS:

Deming Payne caught lying about fake $800,000 client redemptions. 3 mo suspension

Robert Kahn, MO; Andrew Schade, MI; John Wheeler, FL caught misleading clients.

VanEck Vectors BDC Income ETF (BIZD), charges 9.41% a year: you lost money?

Gary Basralian NJ caught stealing victim’s accident settlement money

Idealogs Coulter/Limbaugh cost us $25+ billions as Trump’s confessors

Trump to farmers: I’ll “make it easier” for some immigrants to come into the country.

GOP supports lifting sanctions on Putin friends: Trump rewards Russia for election win.

Trump, as dictator, puts 50,000 in slavery chains—says work without pay is good thing

Trump, as dictator, takes revenge on Dems: Pelosi secure flight cancelled: ‘stay here’

Trump, as dictator, lied about how many kids were separated: still don’t know where.

Lettuce growers begs FDA to come and inspect so no more die of  E.Coli

Flight-safety systems at risk with no inspectors & fewer TSA checks.

MetLife stole pension payments to 13,500 retirees claiming they were dead. No jail time.

PA state pension fund overpaid managers $1 billion in 2017—retirees lose; cronies win.

Sterling Jewelers caught opening charge acct without consent: owns ALL jewelers

Hyundai, Kia recall 168,000 for fuel leaks and fires and software

Brokers who might owe you an arbitration settlement or award --filed bankruptcy?

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

GOP can’t say “You’re fired” to The Boss because his voters will ‘kill’ them in 2020.

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:

Work for free: TSA and flight controllers and Coast Guard need replacements now.

Jobs that pay in health care: leader in job growth.

Nissan lays off 700 in MS

Who owns your account now?

Trump to take TX homeowner’s property: Is land like a gun 2^nd amendment?

ATT has been selling my location data and I didn’t get a cent. Past royalties?

Save money 18 ways: https://www.stretcher.com/stories/11/11jan17e.cfm?DS0114-1

Your investments are back to where they were last April and climbing.

WA cancels NRA insurance for killing people: illegal “to insure criminal activity."

Sears bought by Lampert for $5.2 billion

Miracle:

Bishops ‘forgot’ everything they learned about sex. Cardinal: I forgot sex abuses !!

A gymnastic milestone and a ’10’ to Make America Feel Good Again: Twitter

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Did the Trump tax cut for corporations bring all profits home from overseas?

Did the Trump tax cut for corporations bring all profits home from overseas?

Most businesses are continuing with business as usual when it comes to their valuable intellectual property since the tax law’s provisions aren’t enticing enough for them to keep it at home, according to experts who advise large public companies. It means that other countries ultimately get to collect the billions of dollars of tax revenue generated by many U.S.-made innovations, including life-saving drugs, the algorithms that power social media networks, and the software running computers and smartphones. Apple for instance is still parking its profits in the tiny island off the coast of France. So Trump’s promise of bringing the tax revenue back the US to pay for the huge breaks to individuals like himself has not happened. In fact, all of Trump’s tax cuts have not spurred any growth in tax revenue—tax breaks DO NOT pay for themselves. We taxpayers, who do not have a way to dodge taxes by moving our assets to a foreign country, will have to pay for the wealthy tax breaks eventually. The average tax rates paid by the very wealthiest has fallen in recent years from a peak of 24.1% in 2013 to 22.9 on 2016. For the top 1%, the rate has fallen a full four percentage points below the 26.9%. The deficit is 18% greater than last year!! We can’t spend more than we make and survive.

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

  

What about your mental fitness—a gym for your brain?

Everyone gets in a rut. ‘Rut-living’ means brain power is reduced—your brain cells are not called to work and so they don’t stay fit. Result: Not Good. Remember the nun study—expanding mental tasks decreased the risk of Alzheimer's disease. Exercise of brain power is necessary just like physical exercise. Focus – avoiding distractions to the mind – seems the first step. I can’t learn how to do my own taxes or how to invest wisely (learn a new language) without FOCUS. Training the brain to stay on one task at a time is hard work like working up to a 10K run. I assume I will need all the brain power I can muster for the decisions about making my money last. First, I take small lists of things I want to do and put them on my calendar. Next, I break the job down into parts and tackle one at a time. No skipping ahead. I set a time. I don’t stop to answer the phone or check email/texts. I take courses that help me FOCUS on the goal. There are many around.

Finally, I read a few books: https://www.amazon.com/Zhou-Wang/e/B00K81M75C/ref=dp_byline_cont_book_1

Younger generation does not need financial industry any more

Survey respondents were risk averse and skeptical of the financial planning and investment industries in a survey of 1,000 affluent millennials with at least $50,000 in net worth or $100,000 in annual income. Why? Affluent millennials are still most likely to be do-it-yourself investors, with 35% claiming that they make all their own financial decisions without any help or advice. Another 27% said they consult financial professionals for affirmation, but continue to make their own decisions. Only 15% of affluent millennials retain a professional money manager. According to the survey, 77% view the financial system as rigged to favor the rich and powerful at the expense of ordinary people like them. Millennials also don’t trust recommendations from advisors working on commission: 80% said that they were suspicious of the commission revenue model in the financial services industry. Things have changed since I worked—good!

Use a better way: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023

Trump’s ‘advisor’ Jared paid little tax using the same shelter as The Don

How do you shield yourself from paying your fair share of tax? The Don’s son in law used the same method: tell the IRS you lost money on real estate ventures. The losses were driven by depreciation, a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year. In 2015, for example, Mr. Kushner took home $1.7 million in salary and investment gains. But those earnings were swamped by $8.3 million of ‘losses’, largely because of “significant depreciation” that Mr. Kushner and his company took on their real estate, according to the documents reviewed by The Times. Not illegal now but the depreciation deduction often represents a lucrative giveaway to developers like Mr. Trump and Mr. Kushner. Its enormous flexibility allows real estate investors to determine their own tax bills. They pay nothing! 

You can shelter your income too: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Why are some states restricting voting?

Why do some in GOP want to stop people voting?  Democracy is about voting, isn’t it? GA is stopping 53,000 people from registering. Since the 2010 election, 23 states have adopted new restrictions on voting, such as stricter voter ID laws, cutbacks to early voting, and aggressive purging of voter rolls. This week, the Supreme Court upheld a voter ID law in North Dakota that could prevent thousands of Native Americans from voting, and the Associated Press reported that Georgia is blocking 53,000 voter registration applications, 70% of which are from African Americans. Some states are making it easier for people to vote and harder for states to gerrymander political districts. There are more Dems than GOP so I assume GOP wants to keep the Dems from voting like in GA. TX has gerrymandered districts so all the Dems are in a few districts.

Make America democratic again! Vote for your future, not the past.

Are your 401k or 403b fees taking 63% of your future nest egg?

You may be giving up more than HALF your future retirement income to fees your employer loads into your retirement plan. Some have even been taking kickbacks from the company that runs your mutual fund choices. Some even go to the head of the company alone. Unfortunately, Washington University in St. Louis has beaten a lawsuit by employees participating in the school's 403(b) plan. One analysis shows that if you pay excessive fees for record keeping and investment management you can give up 63% of your potential total savings over time. WOW that is a lot. The answer is switch to an IRA at a low-cost mutual fund firm. You could earn 10-12% instead of 6-8%.

Double your retirement fund: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Make your tax refund larger BEFORE December 31

Tax changes you need to know before end of year MAY help increase your refund. You can no longer deduct alimony if divorced after Jan 2019 so finish by Dec so your future payments remain deductible to payer and income to recipient. Medical expenses that exceed 7.5% of AGI are generally deductible. Beginning in 2019, qualified medical expenses will have to exceed 10% of AGI to be deductible. You might want to prepay in 2018 to take the full deduction. Many middle income folks will not itemize since the standard deduction doubled. There is no penalty for canceling medical insurance, so more and more healthy people choose to be uninsured as premiums escalate. The result may be more bankruptcies from medical bills when a illness or accident strikes. If you are one who decides to go ‘naked’ find a bare bones comprehensive policy to avoid the worst disaster.

Buy what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

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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!

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

Trump snags 1 of 5.7 million ‘illegal’ voters and nets $200; costs $6,000 to prosecute.

Governments blame each other for lack of help to Michael victims: water sits in PR dock

SCAMS/SPINS:

Trump to end citizen protests on WH streets and monuments in DC. Dictatorship?

Trump News and audience tiring of same old con & BS: rating falling

We took children from parents & house them in concentration camps like other dictators.

Fidelity starts cryptocurrency unit: are your mutual funds safe? Start your virtual money?

Fidelity sued by 401k participants: excessive fees and poor returns.

Bank fees devastating to some workers: $2,000 out of pay of $30,000 is excessive.

Bruce Fixelle NJ Aurora caught promising safe new company trading stole $3 million.

Dawn Bennett stole $20 million in Ponzi ‘hoodoo spell’ scheme gets 20 years.

Decoding the electric car sales pitch—what works and what doesn’t in electrics.

Drug prices: 5 common generics—SHOP and SAVE either $66 or $928.  

Transamerica annuity using cancer diagnosis as ‘teaching’ event for planning estate.

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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.

Young lady explains what Trump means by “scary time for men.” Respect not rape, Don.

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Jobs:

Employers can help you get pay in advance

Who owns your account now?

Oppenheimer to Invesco

Miracle:

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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