Advisors caught charging extra fees for virus

Advisors caught charging extra fees for virus

Advisors and brokers may be charging excessive fees, offering conflicted advice and even engaging in fraud to make up for revenue lost during the Covid shutdown, according to a new, wide-ranging risk alert the Securities and Exchange Commission issued for both the industry and investors. SEC noted three areas of concern: Advisory fee calculation errors, including valuation issues that result in over-billing of advisory fees. Inaccurate calculations of tiered fees, including failure to provide breakpoints and aggregate household accounts. Failures to refund prepaid fees for terminated accounts. Firm owners are squeezing salespeople due to the virus. Regulators see advisors making questionable rollover recommendations, transfers to advised accounts and investments in products that pay the firm or advisor more. Some advisors are taking loans from investors and clients. Supervisors are not stopping some advisors pushing more volatile securities. Advisors working from home have delayed responses.

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

IRS collection letter—IRS never opened their mail

If you mailed your tax return and or check in March or later, you may receive a default notice from the IRS. The IRS stopped opening their mail in March and hasn’t caught up yet. So if you get a letter saying you owe taxes and interest and penalties, don’t panic. Someone at the IRS knows they goofed and did not stop the automatic collection letters from going out. Usually there are 3 letters over months. You can try to call the IRS and ask that they place a hold on further collection actions to give them time to find your check. Generally, the hold can be for eight weeks. The phone number to call is in the top right-hand corner of the letter you received. Anticipate lengthy hold times; they are receiving lots of calls at this time. Congress has been cutting IRS staff for many years. Our Washington reps don’t know how bad it is: our reps do not actually call the IRS. As of August 14, the IRS acknowledged their problem but they may still ask for penalties. Make an appointment to visit their local office if needed.

Go tax-free next: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X

Wish you had bought Apple, Amazon, Microsoft, Google, Facebook?

These stocks have raced ahead during the pandemic. People needed phones, stuff, internet, cloud and information to work at home. Amazon stock has doubled in a year. Many people own these market leaders. In fact they have owned them for years and their accounts have soared—31% in 2019 alone. Many of my fellow investors did not pay commissions or extra fees to buy these stocks. Some have paid as little as 0.04%. We did not use an expensive advisor who could have taken over 50% of our earnings over time. We know that brokers, advisors and analysts cannot predict which stocks will double. We followed Warren Buffett’s advice. We use his strategy to own the winners. Over time we have earned about 11%. Our money doubles every 7 years.

Buy and hold the winners: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Congress allows Trump to remove mail-sorting machines to delay citizen votes

Trump admits it—smoking gun. Post office will NOT be able to process our mail-in votes and so the vote count will be delayed. Delayed vote is a Trump vote as USPS told 46 states recently. Only one Congress person took action on this! Sorting machines are still off line and mail piling up. Mail-in votes will miss deadlines. Once the vote count is delayed, Trump will get a decision from Supremes just like Bush got from Scalia. Our votes will not be counted—GOP’s judges will decide for a GOP win, again. Right-wing dictators have done this many times. Once they have placed many biased judges and Supremes in the judiciary system, there is no higher authority in our society. Voting, dominated by misinformation and actual suppression (late ballots never get counted), becomes an exercise in propaganda—just for show like Belarus. Right-wing judges decide elections. The power elite will enjoy more tax cuts and social benefits. The middle-class is shrinking everywhere. Many jobless will not care to vote.

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

Is a 401k loan right for you?

Folks with an alternative are NOT using their retirement money for a temporary infusion of cash during the virus downturn. An emergency fund became a real life saver for most. According to recent research, few are taking advantage of the special penalty waiver: The CARES Act allows qualified individuals to borrow up to $100,000 from qualified plans such as 401(k)s, 403(b)s and IRAs without penalty. Borrowers, however, would be required to pay taxes on these distributions ratably over three years. As a last resort, participants (29%) said they would dip into their retirement account. 27% said they would stop contributions to their retirement savings, 26% said they would borrow from a friend or family and 26% said they would max out their credit cards. The research found that only 8% have taken money out of their workplace retirement savings accounts and 10% stopped contributions to their accounts. Workers in the airline, entertainment and manufacturing industries were the most likely borrowers. Unfortunately, retirement accounts provide the best way to use the miracle of compounding to assure we have enough retirement income. It takes 3-5 times the cash to make up for the compounding effect over time, depending on age.

Keep compounding: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Is the 8.1% annuity right for you?

An annuity sales company is promoting the “Highest Annual Return” of over 8% with a “purchase bonus of 13%.” Most of us know this deal is not possible in the current interest rate environment. So what’s the story? Well, the claims are made up from some dubious assumptions and tricks of financial accounting. Contracts are complex. I found one insurance company that offers a deal close to the one promoted. To get such an annuity requires a long-term commitment on your part. You will pay a surrender charge if you need your cash before the 10 years vesting period. You don’t earn the bonus without waiting a number of years. You may not earn anything in some years since the rate is determined separately each year despite locking up your cash. You “participate in stock market gains without any downside risk.” They offer no actual policy example on the site. You must provide your personal information so they can put you on their call list. They offer two testimonials which violate the NAIC model regulations. They mislead us since they do not relate to the specific annuity promoted.

Income & Growth option: https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Financially independent folks live the Simple Financial Life

The Simple Financial Life consists of five actions. You don't have to be wealthy or a genius to become financially independent. This book will show you how to live the Simple Financial Life: Use only 3 mutual funds to reach ALL your financial goals. Use the best tax shelter: no taxes ever and it's FREE. Protect your family and assets with your Wealth Reserve. Borrow from your own 'bank' to pay for large purchases. Stop wasting $3,000 or more on the financial products you now own. Manage your investments in 15 minutes per quarter. Buy whatever you need at a discount. Practice the FIVE actions for financial freedom. It’s never too late to start.

Start now: https://www.amazon.com/Simple-Financial-Life-not-paycheck-paycheck/dp/1441499326

What is this new form from my advisor?

Form CRS is a compliance form the regulators think we should read since they expect us to do their job. It says we should ask our advisor to disclose all of their conflicts of interest since regulators don’t do that. Since all firms must deliver this general form to their customers, we actually don’t learn a thing about our advisor or firm’s practice. We don’t know how much they get paid and which and how much their suppliers are paying them legally and under the table. Instead of the SEC requiring firms to print all the costs of their services on our statements and confirms they want us to dig this info out by ourselves. Many advisors report that we are not quizzing them on the important stuff like commissions, kickbacks, bonus pay, sales contests and vendor relationships as the SEC planned. Unless your advisor is a fiduciary, sworn to provide the “best” solution for your situation, your firm is not going to divulge this information on their own. Trump killed the “fiduciary duty” rule for salespeople as soon as he took office. Even when advisors treat us badly, they are answerable only to their own firm’s “self-regulatory” body—FINRA. Usually the firm can hide the misdeeds behind a process that lets them erase the theft or deception from the public. Even if you win the FINRA hearing, it is hard to collect the fines. Firms can then let the advisor move to another firm. Very few are defrocked and go to jail. We are not allowed to sue our firm or advisor.

Use the fiduciary rule yourself: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275/

Scammers take unemployed for $millions in MLM schemes

$79 gets you a starter kit to your ‘road to riches.’ Selling a miracle cure or face cream or diet supplement, you can live off the profits of the distributors you recruited. Sounds like a better job than the one you left. The underbelly of entrepreneurship is mostly a scam. Minorities and women are the targets for “multilevel marketing” firms. 99% of those who try, lose money. Why? They are desperate—especially now. The pitch comes in all flavors. Celebrities sell the concept and the owners keep the profits. Internet social media carries the message for pennies per sale. Doctored photos, false claims, and unproven remedies: there is no end to the creativity of scammers. The regulators don’t have the will or budget to stop them. You may remember our president tried a similar scam with his Trump University. He promised to share his real estate secrets. Some paid $20,000. The head of our education department, Ms DeVos, is heir to MLM Amway. Protect yourself.

Learn the signs: https://www.amazon.com/Money-Scams-2014-insurance-financial/dp/1505437962

How to overcome fear of market volatility

You need a complete plan that is focused on the long term: what are your goals; how are you going to get there. You need to learn how to use compounding and a tax-free account. You need to protect your portfolio using diversification of assets and low-cost strategies. Know your biases. If you like to “play the market,” keep a certain amount for that purpose. Separate your assets into short, medium and long-term piles of money. Since no advisor or TV commentator can predict market moves, don’t listen to them. Find an unbiased advisor—one that does not sell financials—like Warren Buffett.

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

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

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

Philly DA: we have an “authoritarian dictator."

Dictator: Late mail-in vote is invalid vote

Dictator: air pollution is allowed again

Dictator: Drillers can destroy Alaska beauty

Dictator got elected with enemy help: aid and comfort

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

Trump has PO remove mail boxes from streets 671 sorting machines to suppress vote

PO: “they are not to reconnect/reinstall machines that have previously been disconnected

Trump sends troops to Poland to prop up another dictator: costly move of Army Corps

Fed keeps printing money to help wealthy earn more while Main Street loses stores

When does the gov take a cut of the sale of private property? Trump’s Socialism

SCAMS/SPINS:

CA restores 30 round mags for more mass shootings: “right to bear arms”= kill many of us?

Trumper’s take Hillary eating kids’ brains seriously: Crazy theories grab lost souls: in Congress

GOP proves Trump election was a fraud: foreigners supplied chaos, money, inside info

GOP: Kilimnik, a longtime partner of Manafort, was as a Russian intelligence officer. Proof

FBI lied: Carter Page, Trumper, worked for both CIA and Russia: FBI taped double agent!

Trump: QAnon conspiracy theorists 'like me very much' and 'love our country': Earth flat too.

WH propaganda: election can’t be fair if Trump loses: trouble ahead: GOP courts decide prez

Kanye West, Political Pawn: why does this smart Black man let himself be used by the racists?

Our future? Belarusan protesters are still trying to oust their leader after disputed election results.

TD Bank caught using deceptive and abusive practices selling overdraft: Debit Card Advance

SCF Investment Advisors CA caught selling more expensive funds 12b-1 fees to SCF: fines

SCAM: forgot to cash a check; unpaid bill; phishing texts on everything: Call vendor first

SCAM: phony pink slip; fake virus test result; fake video meeting; Don’t click—call first

Companies’ auto-renew: you get no warning so you must cancel separately

Romance revenge: posted his credit card data online: change the locks too.

MyPillow guy/doctor prescribes botanical extract: housing sec Carson get Trump to favor scam

School open: Children May Carry Coronavirus at High Levels not Trump’s "virtually immune"

Remington Arms uses bankruptcy to avoid Sandy Hook school massacre liability for 26 deaths

Steve Bannon caught stealing $1 million from donation for boss’s WALL. 7^th Trumper felon  

FOX NEWS STAFFERS FEEL TRAPPED IN THE TRUMP CULT

Holding up the mail, even by a gov official (Trump), is punishable by 5 years. He’s still at it.

Mail still not on time: PO head claims he stopped delaying mail but big Trump ally

Dem Fat Cats cut demand To End Fossil Fuel Subsidies from party platform: Lobbyists $$ win!

Is it a scam?  Check AARP scamline 877.908.3360. Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Jobs

AZ school district teachers/staff call in sick: district can’t open

Zillow agent profiles represent the most useful source of information.

Jobs fade: mortgage delinquencies rise: worker emergency fund

CEO compensation at top 350 firms grew 14% to $21.3 million on average: workers wait

Who owns your account now?

Student loan repayment options: Virus-impacted income or not, re-do terms. 

Used car best buys from CR: $5-20,000

Taxpayers can submit Form 1040-X electronically with commercial tax-filing software.

Eviction notice? Contact county government for advice before trying a lawyer

Miracle:

Arctic tundra is burning: Fire Radiative Power 5 times July 2019 level. 

Death Valley hit 130 degrees at 3:41 p.m. Sunday: highest on Earth; CA burns

Alaska beauty lost: Trump allows drilling in Alaska’s Arctic National Wildlife Refuge

3 men kidnapped my dog, on camera: police arrested the men and I got my dog back safe.

A dent in Earth's magnetic field could pose a risk to spacecraft and satellites and cell use.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Holding a stock and bond index: pros & cons

Holding a stock and bond index: pros & cons

In times of unknowns and unknowables, trust the common basket of securities to see you through. Hey, you never know what will happen so your low-cost index funds will provide the ONLY sure thing: low costs beat high costs in every survey and period. Remember, with a broad index fund like the Vanguard Total Stock and Total Bond, you own a bit of everything—Apple, Amazon, new drugs, new tech, toilet paper, etc. All your costs and expenses can rob you of 63% of your total accumulations. In times of trouble, it is best to stay with the group. Yes, the leader or scout may be the hero but often they just fall by the side. Unless you have insider information like those in Congress, you should follow Warren Buffett’s advice.

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

How 5 one-liners offered by financial advisors work

There are tricks of the trade by financial sales people who need to keep selling without you knowing you are being sold. There are no actual get-rich-quick advisors out there. Sales people are natural confidence people because without your confidence in them, they would go hungry. There is an art to getting you involved so they can build confidence. The goal is to create a congregation of followers much like a mega-church. Think of Madoff’s Ponzi followers. They sought his financial ‘genius’ con thru his followers. To get you on board, sellers use soft sell: “if things change, call me.” Low teaser rate: “3% interest” gets attention. The “unbiased problem-solver.” The stock market “problem fixer.” The “self-helper” similar situation. No sales person can survive by waiting in the shop for buyers to buy. Sellers must evangelize to build a congregation so they can receive your ‘gifts’ quarter after quarter.

Know the tricks: https://www.amazon.com/Tricks-Trade-Mutual-Insurance-Annuities/dp/1535497289

Does ‘free’ trading platform really help you?

For those seeking high rewards from fast trading of securities—gambling—broker-dealers have opened the gates to ‘free’ trades. Because people, usually young men, believe they are “masters of the universe,” B-Ds now have blood on their hands. Alexander Kearns, 20, killed himself after his Robinhood account showed a negative balance of more than $700,000. He used ‘borrowed’ money on options trading. Robinhood reacted by claiming they will now change how money is ‘displayed.’ They will NOT be guiding young users. They want to “innovate, lead, and go beyond the status quo.” Meaning: “where everything is seen as one big casino.” Action, whether vid games or online trading or online casino betting, is now entrepreneur heaven. There is no reason to learn a trade or play amateur sports, when the action is inside your wallet. There can be electronic cautions built into every ‘blood’ sport before your family learns the hard way.

Investor not gambler: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

Taxes in retirement: a necessary evil?

The virus has made some reconsider retirement now or later. Some will not be back to work since work needs fewer people—at least for a while. Others know now that they need to work a few more years since the virus has disrupted their plans. Perhaps the virus struck hard in your family and a big change is necessary. Most people are not better off as a result of the Trump tax changes. And now with the $3-4 Trillion spending increase, we all have to consider that taxes must go up. Wealthy folks have already found ways to pay less and have found ways to move their income overseas. Most working people have not seen an increase in inflation-adjusted wages for decades. There is greater concern for taxes now than before the virus recession. Luckily we don’t need offshore tax shelters or high-cost accountants to shield our future income from taxes.

Use your IRS tax shelter: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Why costs matter

When your favorite securities are yielding record lows, costs—trading and annual fees—can kill your investment portfolio. Thus Vanguard S&P 500 ETF (VOO) pulled in more than $16 billion in the first six months to push its asset base above $140 billion. Some of the new money likely stemmed from outflows from SPDR S&P 500 ETF (SPY). SPY had $21 billion of redemptions, as investors sought a cheaper alternative to SPY’s 0.09% expense ratio. VOO’s 0.03% expense ratio generates more interest from cost-conscious retail investors for asset allocation purposes, while the high liquidity that stems from SPY’s daily volume of approximately 100 million shares appeals to institutional investors. Low-cost bond index funds had inflows too. If the yield on your intermediate-term bond fund is 1.73% and you are paying 0.70%, you net less than if paying 0.20%. 40% of your earnings are going to your advisor. Over time, that cuts your total income in half due to the “the tyranny of compounding costs.” For fixed income investors, costs matter more than equities since historically, equities provide inflation-beating returns. Unfortunately, 70% of savers are not aware that they were paying any fees at all.

Costs kill: 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?

how democracy dies in the 21st century: death by a thousand cuts

'I made Juneteenth very famous' I.. I.. I..

Another Trump criminal goes home

Trump’s 200th lifetime federal judge: Make America WHITE Again

NC cops: “We are just going to go out and start slaughtering them f------ n------”

“Very stable genius” ignores science and sickens thousands

I pay no taxes Trump sent virus checks to 1 million dead people

How Govt wastes our money: Congress gives 3.7 Trillion to the wealthy! 

Trump tells ‘joke’: ‘slow the testing/reporting’ more cases coming from opening early

Trump to end federal support for testing sites even TX: no tests = no cases but hosp full

Trump to start new virus and forest fire on Mt Rushmore July 3 despite warnings.

Trump tariffs putting Maine lobster fishers out of business: more bailouts: Socialism

SCAMS/SPINS:

Gov mandated “free C-19 testing” may not be free after all: insurers read law in reverse.

Lock her up: Trump daughter gov employee does same with private emails as Hillary

DC July Fourth celebration: Trump to feature himself not America despite virus

Much hype about nothing: Bolton book is bust: House’s “impeachment malpractice”

Ivanka’s 6,200 no-mask rally a bust: 6 staff catch hoax: hundreds get it in days: Jared no show

Richmond: both sides now carrying assault rifles: how many must get shot?

GOP suppresses vote in KY: 3700 polling sites to 200 for whole state. ‘Poll tax’: my pay.

McConnell’s GOP tactic: 1 voting site for all Louisville: close doors on voters waiting!

Mail-in voting saved KY from melt down at polls: Nov answer to GOP vote suppression

Trump accuses Obama of treason, again: desperate after Tulsa; Arizona failures

Former GOP officials support Biden: Party regulars have no place in Trump cult.

GOP will NOT reform policy: GOP limits ‘reforms’ to more body cams; killings OK

US rate of new cases hit a new high: 36,880 new: more than 2 months after its previous record

TX gov reverses reopening ‘happy talk’: “hospitalizations were at an all-time high”

TX gov said grandparents were willing to die for reopening early just 3 months ago

Trump orders slowdown in testing of virus so he “does not look so bad”

Trump tells Supremes to end ObamaCare in midst of pandemic: voters seek health care

Eviction bans ending — massive eviction crisis looms: no help from Washington!

Toxic hand sanitizers: 9 banned by FDA: Methanol can be dangerous

NY, NJ, CT set 14 day quarantine for ‘visitors’ from high case states except Trump mob

RoundUp cancer victim heirs get money: no jail time for killer Monsanto/Bayer execs

Thomas Becker and John Thomas caught stealing $30 million; promised high returns

Charles Liu Xin Wang caught $27 million deal but Supremes say they keep “expenses”

Felon Jack Abramoff caught making false/misleading statements to sell cryptocurrency

Harbour Portfolio caught misleading, deceptive acts on borrowers re: ‘deed’ flipping

Advisors running private equity funds caught overcharging: expenses plus 2% plus 20%

Advisor exam cheating investigated by regulators: your advisor maybe pulling con

Mary Trump: World’s Most Dangerous Man: cut off medical assistance to Fred III’s son

Scam Q&A: https://www.aarp.org/money/scams-fraud 877.908.3360

Jobs

Navy reversed and fires captain of aircraft carrier who warned about the spread of virus

New rules: raiding your pension or IRAs due to virus job loss. Giving up compounding!

Who owns your account now?

Trump as politician is exempt from Facebook’s policy against false/misleading info. Why?

Trump forced to show who got bailout money: legal names hide real recipients: private jets, donors

July 1: Pell Grant higher; new federal loans will have much lower fixed interest rates

Miracle:

Where/how you live helps living to age 100: walkability, socioeconomic, working neighbors.

Warming record: Russian town located within the Arctic Circle reached 100 degrees already

DEMs best for prez? Joe Biden is, by his own admission, a “gaffe machine.”

Cancer drug: New treatment halts tumor growth: drug stops cancer cell repair

Mortgage and refi rates at lowest: Get best rate--3.42 percent.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Overcome the Social Security shortfall

How to overcome the Social Security benefit reduction in 16 years

The SS trustees estimate that by 2034 the combined trust funds for Social Security — which help fund the old age and disability programs — will run dry. At that point Social Security will be able to pay only 79% in promised benefits to retirees and disabled beneficiaries. Those projections are roughly on par with last year's report, which estimated the combined Social Security trust funds would be tapped out by 2034 and would then only be able to pay out 77% of benefits. Since Congress may not be able to fix this problem, you will have to do it yourself. If you are counting on $1,461 the average benefit for a 67 year old with today’s formula, it will be modified to pay about $1,154. If you believe you will need more that $1,154 a month, plan now—TIME and the Miracle of Compounding can help close your income gap of $307 a month then. You can have $60,000 in 16 years by earning 8% on your $2,000 a year contributions. You contribute $32,000 for $60,000 when you need it to supplement reduced SS benefits.

Use low-cost funds for higher returns: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Where do your financial fees and commissions go?

The median amount of managed assets per advisor dropped 7% in 2018 to $99 million, while median ‘revenue’ per advisor rose 6% to $694,000 in the same time frame. Typically salespeople receive 33-40% of that in gross. They may have expenses. Big producers gross over $2 million but most take home $66,000. So most of your money goes to marketing and overhead of the firm. Most firms are not public so we don’t know the income of owners. As a clue, the current owner of Fidelity receives a nice package in the $ millions each year. It is NOT fantastic customer returns that she gets paid for. Most of the huge salary/bonus the owners receive comes from market growth NOT their smarts or hard work. The market’s 11% average increases your balance. You give Fidelity and other owners 1-2% of your account balance EVERY year (with eight fees and expenses you pay). They receive them even when they had nothing to do with earning it. In fact it is impossible for them NOT to make $ billions on all of our accounts just because of the ownership structure. Only one firm is owned by us, the shareholders.

Keep your fees and commissions: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Should we fear investing in the stock market right now?

Most of us have little experience with investing in securities. Even if we have some of our pay directed to the employer’s 401k or 403b, we don’t have a clue which securities to buy and own. If we listen to Wall Street brokers, we often lose. If our schools had a basic money course, it would show us how to decide: are you saving for your vacation or for your retirement? It is TIME that decides. If you need your money next year, it’s a bank CD at 2%; in less than 5 years, a mutual fund of stocks and bonds earning 6-8%; in 10 years or more, it is a diverse stock fund earning 10-12%. We don’t have to learn anything about risk/reward, stocks/bonds, alpha/beta, sector rotation, buy low-sell high, trading costs, or anything else Wall Street advert’s talk about. In fact, Fidelity looked at their most successful investors and found they forgot their account or they were dead. Follow the master investor’s advice: it is simplicity itself.

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

Do Wall Street traders really make a living?

Like everything, the answer varies. Salary.com pegs the lower 10 percent of stock traders’ salaries at about $43,200 per year. Those in the middle 50 percent earn a slightly higher salary, often around $57,600 each year. The highest earners nationwide, on average, take home $66,600 per year. The average household income is $60,000. Of course, the financial press can always find someone who ‘says’ they earn $150,000 or $1 million as a professional trader. There are very few surprises in financial services. The only sure thing is what our Congress people have: a law that makes ‘insider trading’ legal only for them. They learn about a law that will benefit ABC corp and they buy zillions of shares with credit (margin account) and their family assets. They can’t lose. Trying to make a living finding and trading the next ‘hot’ stock seems more hectic than it’s worth. According to a very smart person I know, investing in the stock market is like particle physics—each particle is hard to follow but a bunch of them follows a set pattern.

As John Bogle said: forget the needle and buy the haystack. Your choice.

https://www.amazon.com/Quantum-Uncertainty-Investing-3-69-11-11/dp/1502312557

What’s your retirement plan?

46% of us don’t have enough. Some claim they will work till they drop. If so, why are so many taking SS benefits at age 62 when they could add 8% a year by waiting till they are age 70. I started benefits at age 62 because I could not find a job in my field. I receive $1,557 currently. My spouse waited and receives $2,964 or almost double. I should have waited. If you have no plan, start now. No matter how old you are, it would be better to use TIME to grow your nest egg. $250 a month automatically invested in a balanced (stocks and bonds) fund could provide you with $150,000 in 20 years. Example: Vanguard Wellesley Income Fund has provided over 9% a year for 10 years and since 1970. It has had only one bad year. It costs much less than most other ‘managed’ funds.

A simple wise plan works: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Avoid taxes on retirement savings

You can’t add to your IRA or Roth IRA if you don’t have earned income after age 70.5. So if you are receiving income you don’t need and don’t want to be taxed on it as it grows for your later years, you can still avoid taxes. You can buy/hold stocks that don’t pay dividends. You need to open a brokerage account. You can move your money there and buy any number of individual stocks. Unless you sell them, there is NO capital gain and thus no tax. One client had to begin taking RMDs from his IRA account. He will owe tax next year on this IRA money. He opened a brokerage account with his IRA fund firm. The IRA trustee automatically sells the appropriate amount of IRA funds monthly (as demanded by the IRS) and places cash in a Fed MM account. At each drop in the price of Buffett’s BRK.B stock, he buys shares. Since there are no dividends and no capital gains (until he sells) this strategy will avoid taxes in his lifetime. Actually, his heirs will not have to pay his taxes either since the basis of the taxes goes back to zero upon his death.

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

  

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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

“The campaign -- for him -- was always a marketing opportunity.”

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

Will voters who need ObamaCare vote for it?

Can a mob boss snub Congress’ subpoena?

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

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

Guantánamo Bay as Nursing Home: better deal than our own vets receive?

We are borrowing faster than we are making it: Economy grew 3.2% not 6 as promised.

Lobbyists tell Congress NOT to close tax evasion/laundering entities: Are we surprised?

Navy ships are made with defects and we have to pay for shipyard mistakes/failures.

Trump and GOP look at invading Venezuela: Congress has little power over Trump.

Trump wins: Yemen killings continue with US support for Saudi-led war.

SCAMS/SPINS:

Trump: withdrawing U.S. support for an international arms-trade treaty: threatens troops.

Last time Trump was sued by the U.S.: His marketing opportunity: “greedy and grasping”

Putin got election influence to Trump via NRA, real estate, banks, oligarchs, media, deals, etc.

Trump WH predicts Russia threat to elections but does nothing: Like an invitation to scam votes.

Lobbyists force Congress to pass bill putting annuities in retirement package: profits soar.

Chase bank tells us to stop drinking coffee to save after we gave it $25 billion.

Wells Fargo doubles lobbyists pay to get Congress off its case: Customers lose.

Ford caught “intentionally violated the law” in its emissions testing. Joins VW, Fiat, etc.

Elder abuse: family members steal from those least able to protect themselves: Ask them.

Survey: voters want lower drug costs and shield pre-existing conditions, med bill surprise

ACS Education Services caught failing to correct student loan balances so more charges

Lexington, PGX, CreditRepair caught taking prohibited upfront fees; poor service.

First drug maker/dealer found guilty of bribing doctors to push opioids. Jail time

Brokers/advisors lie: NOT required show all costs: We earn less over time. Regulators?

Christopher Dougherty CA caught Ponzi defrauding 50 of $7 mil ‘private placement’ 5%.

Francesco Puccio NY caught reselling annuities/life ins. for commissions: fine no jail

Anselmo Contreras, caught stealing customer funds: barred from securities.

Axa caught "negligently misrepresentated" bond funds: 401k customers mislead. Fine

Axa caught making unsuitable variable annuity and life insurance sales to seniors. No jail

Staff in WH:  “A normal person would have been indicted for this.” ‘obstruction stuff’

If you ignore Congress subpoena or a judge’s order: aren’t you in jail or a dictator?

What if All the President’s Men lie and refuse to respond to Congress/courts’ subpoenas?

Mueller ignores Mob Boss family Russia deals: OK to conspire with enemy & obstruct!

1. “Russia, find Hill’s emails” 2. Don’s Mob made Russian deals 3. Russia tricked voters 4. Polling data payoff 5. Special Russia deals 6. Fire FBI 7. Refuse give testimony.

REDACTED Mueller Report here: https://thehill.com/policy/national-security/439485-read-muellers-redacted-report: tell lawyer to stop probe, stop probe, mislead public.

Trump: ‘nobody disobeys my orders’: will his border troops kill Americans?

Trump has his undocumented golf club workers work late without pay!    MAGA!

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

‘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.’

Jobs:

Public relations jobs increase--newer specialties that target social media grow: olivajade?

Renewable energy passes coal: 100% carbon-free energy by 2050: 23 coal plants retired.

Paying minimum wage cuts suicide rate in some areas: “deaths of despair”

Making new apps for phones may be top job for next 10 years: $100,000 for some.

Student loan repayment part of benefit package for new hires: 401k overlooked.

401k hardship withdrawal amounts have grown although number of loans has fallen.

Who owns your account now?

New bank attracting new money: Comenity pays 3%

Miracle:

Will it take a miracle to save the endangered giraffes? Penguins? Bears? Humans?

Student Riley Howell dies for his fellow Charlotte students: toppled shooter; took a bullet

8 year old saves sister from carjacking kidnapper: GrandMom left to help other woman

Families share the ultimate gifts and then chance brings them together

IAN

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