Are high fees still right for you?

 

Are 401k fees still right for you?

Our current system favors costly middle people who are superfluous today with computers. The average fees levied on 401(k) savings cost us 0.5% to 2% annually (small employers). Compare that to today’s index and ETF funds which cost 0.04% or less. The overcharges we pay do NOT guarantee superior long-term success. In fact, most studies show we lose up to 63% of our total accumulations. Given today’s average earnings of 6% with 4% for us and 2% for Wall Street, we are the Big-time losers. No matter our portfolio—conservative or aggressive—we cannot help but do better with a new system for tax-advantaged investing. Fees are no longer deductible so even in a taxable account; the new system gives you more. Such a system is easily available to any working person without costly trusts, foreign tax havens or tax-avoidance schemes used by the wealthy.

Even if you have only 10 years to retirement, this system can benefit you. The longer your NEW retirement system runs, the more tax-FREE money you have to spend.

Go tax-FREE: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072/

 

Which is better for investments—Dem or GOP president?

Wall Street gurus are currently going through their eternal talk about which party president is better for investors. As you might expect, this is not the right question. There are so many factors in the success of any particular investor that we should not even read these advice statements. Unless we know when exactly we will need our money or when the markets will fail, these pronouncements are just B-D propaganda. Most of us have learned that the stock market advances about 11% per year nominally over time. We know that in any given period, there are times when the market or our portfolio will rise and fall. This is why Warren Buffett, surely a wise investor, bet a million dollars on the S&P 500 stock index run by low-cost Vanguard to beat 5 guru hedge funds. Buffett gave the $1 million to his charity. The gurus are still in business so some of us still want to pay excessive fees to feel they own a superior strategy or portfolio. Unless we have insider information like our representatives in Washington, we are rewarded for just following the wise investor’s proven way. Lose 18.6% or gain 11.09%, your choice.

https://www.amazon.com/Building-Wealth-Like-Brushing-Teeth/dp/1470141469

 

What fuels the market climb?

Fixed income market provides low yields so investors poor into junk bonds. Our government is buying the bonds of private enterprises so the wealthy receive special treatment from the national deficit spending. The working person has no wage improvement power. The wealth gap gets wider so the rich can afford to stay in the bull market. They don’t have to worry about their company or investments going broke like the local mom and pop business so they can afford to keep putting money in the stock market to increase their wealth. Pension funds must stay in the market since many are under funded for their future liabilities. Wall Street no longer has to worry about a political meltdown so future growth looks promising. GOP Senate control will assure wealthy investors of no significant tax increases on non-wage income or wealth. Most wealthy people are not taxed on income and a wealth tax is very unlikely. Even Romney knows his offshore wealth is not in danger. Despite his protest, Warren Buffett, with $86 billions does not expect his tax rate to go up. Which is better: earning 1% or 12%?

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

 

Wealthy finding ways to avoid new taxes

With clearer future, the wealthy are scrambling to get their money hidden from the new tax proposals sitting in Dem inbox. Because the tax rates are probably going to be higher in the future, they can move their IRA balances into Roth tax free accounts now. They know the budget deficit has reached $3.3 trillion, a level not seen since the end of World War II. Since they already got the benefits of overspending, they will want McConnell to kill any stimulus for working people. The wealthy can use QCDs. They are the most tax-efficient way to reduce taxable IRA balances which have remained high with the government support in 2020. Gifts can reduce tax now and lower estate taxes later. Use Trump’s example of a $21 million deduction by giving away the right to build on your forest that never would have been developed anyway. Wealthy tax avoidance loopholes may be closing with the new regime in 2021. They need to act soon to keep the wealth gap growing. We working people can avoid paying the taxes avoided by the wealthy.

Use it or lose it: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Biden’s new regulation: brokers must disclose conflicts of interest

Biden will need to return to the regulations that Obama instituted just before he lost to Trump. Obama’s Fiduciary Rule required that product sellers help us buy the best product available, ignoring seller commissions and fees. On April 6, 2016 the government limited the billions of dollars the financial industry could take from our retirement-savings products and advice. The final Fiduciary Rule was weakened by product sellers so they could take some of our transfer money out of 401(k)s. Trump reversed Obama’s rule and helped product pushers hide fees. Brokerage firms have hidden their bad acts. In the future, advisors will act like accountants not like used car salesmen. Some sellers have already lowered fees due to competition. We will still have to learn and shop in order to get the BEST for our particular situation but at least the industry will need to be more transparent in its offerings. Now we can get the BEST available for us because sellers will need to disclose conflicts of interest more fully. Under Trump, sellers are NOT telling us the whole truth about their bad acts and hidden fees. Now they will have to.

https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

 

Is a Robo right for you?

The use of automated advice platform, or so-called robo advisors, is continuing to rise, with about 8% of U.S. households having money invested with a robo. Robo advisors are popular with millennials that have significant investable assets; nearly half of millennials with more than $500,000 to invest use a robo, according to the survey. But for mass affluent millennial households with between $50,000 and $500,000 in investable assets, only 20% reported they used a robo, along with 15% of Generation X families and 5% of baby boomer families in the same sphere. Not to lose market share, Fidelity, Schwab and Bank of America, offer new applications or features. By offering such options, the big firms were succeeding at creating a “natural funnel from a free service to their trading or managed account platforms.” But robos are not free, just lower costs than full service brokers. And so robos don’t provide higher returns necessarily. Robos offer some hand holding compared to flying solo. Vanguard is owned by us shareholders so fees/charges are at cost—profits go back to us investors, like a co-op.

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

 

Deduct $300 from income in 2020

Here’s how the CARES Act changes deducting charitable contributions made in 2020:

Previously, charitable contributions could only be deducted if taxpayers itemized their deductions. However, taxpayers who don’t itemize deductions may take a charitable deduction of up to $300 for cash contributions made in 2020 to qualifying organizations. For the purposes of this deduction, qualifying organizations are those that are religious, charitable, educational, scientific or literary in purpose. The law changed in this area due to the Coronavirus Aid, Relief, and Economic Security Act. The CARES Act also suspends limits on charitable contributions and temporarily increases limits on contributions of food inventory. More information about these changes is available on IRS.gov.

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

  

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

 

Like 1776, this period is a test of democracy—NO we don’t want a Dictator?

 

GOP 6-3 Supremes primed to reverse US back in time

Yes, courts used to put women in jail for wearing slacks

Supreme Alito: rights only for likes

 

Dictator: “It’s going away.” (No you are)

Dictator’s staff: “It’s out of control:” 244,000+ dead

why everyone wears seat belts now

 

Dictator’s Sunday 11/8 at his Church

 

Dictator’s armed terrorists standing by

Biden has to run the country from Delaware

 

 

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy! 

Trump, defeated, holds election rallies from AirForce1: costs us $77,000/hour: He lost!

Trump Plaza Casino Atlantic City blown up for Biden inaugural: Trump tax deduction?

Trump put his anti-racial justice, anti-climate change ideology into our retirement funds.

 

Trump’s ‘voter fraud’ proof: Philly, NY, PO DeJoy, NJ, LI, PA, PA, NC, which fraud?

World dictators still back ours: USSR, Brazil, Mexico, Turkey, Hungary, Philippines, Saudis

Trump tells Justice to find the ‘voter-fraud’ smoking gun: DoJ Investigator quits

Trump lawyers: “will we get paid for challenge work”?: Trump notorious for not paying

 

Mel hired movers already: Baron to military school? FL removes heliport from Marlago

Congress needs “eviction” marshal for tenant in our White House: Germany shows how

How much?: Trump may give up top secrets: he did it before: beat Impeachment once too

 

SCAMS/SPINS:

Trump’s mail slowdown delivers 40,000 more ballots after judge orders PO come clean

Trump orders legal military ballots to be thrown out: absentee overseas votes legal

Qanon terrorists caught w/ fake ballots, AR 15 storming Philly counting center

 

Only 1 Republican offered hand to new president: Biden has 200 exec orders ready

GOP still afraid of Trump’s tweets will not speak to Biden: no reconciliation in US

Trumpers angry with FoxNews for NOT airing fake “voter fraud” news & calling AZ

TX will pay $1 million: find 1 voter fraud case:  a bribe for gov official is legal in TX?

 

Doe GOP exist with “Trump is the GOP” lost presidency? “Let’s give him a chance”

 

Ex Prez fires Pentagon chief: apology for Bible walk: military used against citizens bad

 

Can Trump’s Supremes reverse the will of the voters? GOP courts make up ‘justice’

 

PA voting outcome shows how much the color line still decides America’s path

Most of the military leaders sighed in relief: the “stable genius” almost gone

GOP still rules state legislatures; religious right; Trump cult: Dem work just starting

 

AR police to Trumpers: “death to all Marxist Democrats” “leave no survivors”

 

Trump refuses to start transition process: McConnell: “peaceful transfer of power”??

 

How a cult dies: Jim Jones took his ‘world’ with him: couldn’t face ‘the music’ real life

Trump refuses to reduce environmental pollution killing corona virus patients

 

 

Cheryl Broussard FL caught defrauding sorority investors; fake statements: 2 years jail

Robert Morgan caught running Ponzi in real estate; promised high returns, fake docs,

Local papers/websites turned into PR production for politicos/corporations. ‘news’?.

Gummies Promise to Decrease Stress: Martha Stewart leads the pitch for bad teeth

 

Census takers told to enter false info: Trump closed census early: change future Congress

Beam Financial caught blocking bank withdrawals: yes some banks fail

Kraig Gier Security Planning caught stealing $1 million from elderly fake docs: 5 yrs jail

 

HD Graham, DL Howard LL Matyas caught taking $920,000 fees no license: defrocked no jail

Ransomware thugs failing to delete stolen data after a victim pays a ransom: Thieves 2X

How easily we fall for misleading videos: ballot stuffing in USSR, burning sample ballots

 

Trump’s Financial ‘Protection’ lets debt collectors hound us: call, email, text, 24/7

FL court allows Prevagen promising improved memory to keep claiming and sales

Robo “collector” from 608-371-6666:  https://800notes.com/Phone.aspx/1-608-371-6666

 

 

Vatican silent child/adult sex abuser slept w/ boys: not sorry, no jail, no confession

Religionist with popular power support Trump: move state governments to extreme right

 

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

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

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

 

Jobs

Trump hires hundreds to overturn election: then defend him from many indictments

Biden hires scientists pandemic team: Trump plays golf & does more campaigning

Health care lost with job: Supremes may increase health emergency for 30 million

 

This is where our raises have gone: “matching pair” Porsche and Embraer Phenom 300E

Fidelity Investments To Hire 4,000 People In Next Six Months

Florida passes $15 minimum wage—but only by 2026 in fight for fair wages. 

 

 

Who owns your account now?

J.C. Penney's defined benefit plan to Pension Benefit Guaranty Corp: fewer benefits

Safe hotel list: travel is hard enough so check before check-in

 

Miracles:

Despite all the bad news we hear now, we have a democracy; we can vote and change!

Vaccine maker: 90% effective: Trump military/vendors to ship around: side effects?

Un-scalable wall around our White House still blocks citizens: ‘say goodbye’ fence

 

Two members of Biden virus panel worked inside the Trump administration: experts

 

GOP 6-3 Supremes primed to reverse US back to 1950s: abortions illegal, dirty air, no wildlife reserves, no voting rights, 0 immigrants, no health care, red-lining housing, no interracial couples, Trump self-pardon, cancel IRS audit, no gays, discriminate by religion, decide our elections, dismiss suit Trump as rapist, etc

 

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/

 

Dem wish list: healthcare, infrastructure jobs, restore environment, unite 545 kids

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Ask advisor follow Reg BI

Your first investment choice during a pandemic

If you are just getting your investment plan started—new job or new try in the market—what is the best choice? During this time of volatility and lack of trend or direction, you need a single fund which owns the major profitable companies:

1              Microsoft Corp.

2              Apple Inc.

3              Amazon.com Inc.

4              Alphabet Inc.

5              Facebook Inc.

6              Johnson & Johnson

7              Berkshire Hathaway Inc.

8              Visa Inc.

9              Procter & Gamble Co.

10            UnitedHealth Group Inc.

You need to begin with a low-cost fund (0.04% expenses) so you can keep almost all of your profits—none to the seller. You need an affordable fund that you can buy in one decision. Many of the stocks in this fund pay dividends so you can buy more shares without having to use your own money. These firms share their profits with you as they grow. These companies are very unlikely to go out of business so you won’t lose money over the next 5-10 years. Over time this fund earns 11%. Since these stocks are owned by millions of people you will be able to sell them to get your money back easily. This fund is recommended by one of the greatest investors of all time—Warren Buffett. In fact he thinks this is the only investment you will ever need to consistently beat Wall Street professionals. Most pros quit before their fund sinks. Use the most successful way.

First and only fund: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355

Our government just bought a trucking company: Socialism

YRC Worldwide, a troubled trucking firm, just gave us a 30% share of the company for $700 million. Justification: Congress gave permission as a way to ensure taxpayer funds are not misspent. Unlike the bailouts to major for profit corporations back in the recession of 2007-8, we got an ownership stake. Our reps approved this socialistic move to “enable a critical vendor to the Department of Defense to maintain significant employment while providing appropriate compensation to taxpayers.” YRC (Roadway, etc) has 30,000 trucking jobs that “support essential military supply chain operations.” But remember, we, the U.S. government, already provide more than $700 billion annually to the federal military and police for transport. Darren Hawkins and YRC board members just saw their stocks TRIPLE in value in addition to higher salaries. This is the same kind of scam used in the Recession to make some insiders very rich.

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

Your advisor must follow Reg BI now

Reg BI mandates that brokers/advisors must now meet a “best interest” standard, rather than a suitability standard, when making recommendations to us. The old rule was suitability: brokers had to have a “reasonable basis” to think that a suggested product, service or strategy for an investor was “suitable.” Basically, brokers/advisors did not have to be concerned with our “best interest” as long as their advice/product did no harm. So a bank CD or annuities were considered “suitable” for anyone wanting to “preserve capital.” We did not know commission on one was 20 times larger than the other. On July 1 Reg BI requires brokers to develop and enforce policies that were “reasonably designed to identify and eliminate” sales contests, quotas or other types of noncash compensation that were tied to the sales of particular securities or types of securities. So we have to ask our advisor: “why do you recommend” this product and “how do you get paid” and “how much are 12b-1 fees.” Advisors are really salespeople and their well-being comes from our money. Usually we don’t ask these important questions to determine the best for us and sellers don’t mention the ‘best’ for us. Sellers only sell what they are told to sell.

Our “best interest” not theirs: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

Your driving record and history are public

Your car insurance rate is calculated based on many factors. And your driving record and full history are public record: Your driving record contains all in-state offenses as well as information about the current status of your license and other important details your auto insurer or litigants might like to know. Your accidents as well as speeding tickets and other civil infractions, including tickets you beat. Even if you've been found innocent, the fact that your driving has been called into question might help the police decide whether you should get a ticket. Police have access in their cars—that’s what they are doing when you get stopped and they go back to their car. Your criminal record is also checked. Insurers use age, socioecon, income, gender, location, type of car, type of coverage requested, credit history, miles driven (work and leisure), use of car (pooling), and driving course. Insurers know more about you than your family! Some track your drive.

You must ask for discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Financial Independence

What is it? How do you get it? How long does it take? What are the benefits? You don’t have to be wealthy to be able to make independent financial decisions. Independence usually means that you want to be free of limitations on your goals. So the first step has to be finding out what you really want in life. Other than immediate gratification, what would make you really happy and feel free? Money usually provides us with the financial freedom to do what makes us ultimately happy. If your goals are too vague or too big, ask about what you want in 1 year, 5, 10, and 20. This is not a current ‘to-do’ list. It could be a good job, a career, a family, at business, enough money to quit working day to day. Now you need a plan. First, write down each goal. Second, consider the steps to get to each one. For instance, if you need money to reach any of these, are you taking the steps to obtain money to reach them? Are you saving/investing by spending less than you make? Third, you can’t accomplish them all at once even if you thought winning a lottery or gambling could get you the money immediately. Most winners lose it all within 5 years. Forth, prioritize your goals. You just don’t fall into a job, career, family or business. It takes work over time. Fifth, no matter what stage you are at now, keep reviewing where you are going and how you are going to get there. No one sets out to be what they eventually become. Life is not like that.

Leah did it and so can you: https://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408 

Tax return due July 15: Extension automatic with form

If you could not meet with your preparer and can’t complete the online tax return using one of the FREE software programs, you can obtain an extension to October 15 just by filing a form with an estimate of what you owe. IRS wants the money—the return can wait—since they have 3 years to find any errors. Fill and print and pay form:  https://www.irs.gov/pub/irs-pdf/f4868.pdf

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

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

Ignore science at your peril

Mobster refuses NJ quarantine order for his mob

But Mobster putting up more protection for himself … NOW

Mobster’s use of Pentagon funds for his Wall is illegal

Impeachment didn’t work: Vote mail-in might

Fascists blame ANTIFA for anti-racist protests

Mobster more worried about vandalism than Blacks being killed

Mobster encourages racism: ‘Make America WHITE Again’

OK police kill ill man 50 times

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

Trump told to release immigrant children being detained in cages by non-Trump judge

Trump promises more bailout money to wealthy: Tells Supremes to cancel health insur.

C-19 treatment will cost over $3,000 in US; less outside: Gilead stockholders win big!

Trump claims never read/heard of kill bounties: is he not CINC or shielding Putin?

Paycheck Protection Program renewed with $130 billion left unused

IRS cuts enforcement: chance of collecting BIG bucks from wealthy low. Poor get audits.

Another bank bailout from leveraged assets on the way: bankers will need our taxes again

SCAMS/SPINS:

Trump ignores science: Arizona facing more per capita cases than any country!

Trump mob on more virus deaths: “we just have to live with that.” Mob tested daily!

Florida's case count increased fivefold in two weeks. Texas, Cal suffering reopen too

Trump puts anti-conservationist in charge of Land Management: Drillers delight

Cowboys for Trump refuses to register membership: want anon. action in elections.

Putin changes constitution to stay in power forever: Trump’s dream come true?

Danaher’s C-19 antibodies test approved by FDA: most others not accurate or fake

Virus ‘FREE’ test may cost $ hundreds depending on your situation/insurance/place/time

United States reported 52,789 new coronavirus cases on July 1: new high

Boeing hiding documents about changes made in key system flying doomed Max 737

Arsenic in some bottled water: use over time gives you cancer

Facebook admits to wrongly sharing user data with third party apps yet again

Wealthy CT don’t want to integrate their mansion neighborhoods

Liz’s (R-Wy) dad Dick Cheney, wearing a mask and the hashtag “#realmenwearmasks”

TrumpCare health plans caught “deceptive” “misleading” marketing: pay less; get less

Tupelo MS mayor quells the social distrust/misinformation/propaganda wars: reasonable voice

A national police misconduct database not possible: states decline to be accountable

"As long as I'm the majority leader of the Senate, none of that stuff is going anywhere.”

Except The Don wants to end desegregation law: Senate to Make America White Again

Supremes OK state money for private/religious schools: end church/state separation.

Supremes block absentee voting in Alabama: now need 2 witness notarized affidavit 

Jobs

Microsoft will close nearly all of its retail stores: call centers will fix all problems

White supremacists and Neo-Nazi National Guards hide in plain sight like racist police

Trump cultists fill military/judiciary: Generals do photo ops and GOP judges last decades

Roundup $10 billion cancer settlement yields lawyers $3 billion fees, plus costs!

Is pandemic pushing you to retire early or work longer? Older poverty rate jumps to 54%

Political jobs pay well but you must k*** a** every day.

Who owns your account now?

American Air to pack ‘em in so you are sure to catch hoax from your co-passenger 6 inches away

Air travel requires a ‘health acknowledgment form’: you just say you don’t have virus to get seat!

Options for college: in-state fees, scholarships, discounts, low-income plans, community,

Rent assistance: some states offer up to 6 mo help but enrollment time is limited

Pay income tax in cash? Some retailers take your tax money for a fee.

Is it time to refinance? Rates are low but make sure you cover your costs.

Miracle:

Fed orders big banks to avoid another recession bailout by taxpayers: how smart!

Supremes tell LA to let women’s clinics do their job: no extra doctor creds necessary

More child sex abuse complaints by Catholic priests/cardinals as church tries to deal/cope/pay.

First patron saint of the internet? Seriously? 15 year old given the title: child abuse?

Summer vacation spots opening in the Artic: swimming, boating, fishing, swamping, etc

Arctic is figuratively and literally on fire — it’s warming much faster; causes wildfires

MI 9-year-old sewn/donated 500+ masks: “It helps to share kindness in my community”

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts