Another way the wealthy avoid taxes we can’t

 

Can you take out 10% of your nest egg each year?

Some baby Boomers think their advisors would recommend this amount to be withdrawn each year in retirement. “Today’s low yields on bonds and high equity valuations mean ‘retirees are unlikely to receive returns that match those of the past,’ Morningstar says.” Fidelity said that over the timeframe of about one century, a 4.5% withdrawal rate would have lasted throughout a 30-year retirement in about 90% of the periods analyzed. Because that is an average, you must consider your specific situation before assuming you can spend 4.5% each year. Low earnings, inflation, your health and your family longevity must be factored into your best case scenario. If the bulk of your retirement funds are in qualified accounts (traditional IRA), your mutual fund or brokerage firm uses the IRS RMD worksheet to do the calculation for you. Their tables use an average withdrawal rate of less than 4% of your previous year’s combined total qualified funds amount each year. Thus, if your investments shrank, your RMD amount will be lower. You need to learn the factors that change your prudent annual spending amount. 

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

 

 

Help your child, grandchild get started on a $1 million fund

They will need a million dollars since inflation can reduce the buying power by 50% in just 20 years. Since common stocks have the best history of keeping ahead of inflation, a broad portfolio has the best chance of delivering steady returns. Since 1871 a basket of stocks (dividends reinvested) has provided 11% returns. Ordinary inflation is 3% not 8.6%, so right now stocks are cheap. If you show your family that an 11% long-term return can turn $250 a month into $1,000,000 in about 34 years, they will not be try to beat the market with fast trades through a $0 commission broker. Show them the math: $250 per month for 34 years costs $102,000 in contributions. They earn $898,000 in dividends and capital gains. If they use their special IRS tax-FREE account, they avoid about $225,000 in taxes when they take their money out to live on. Remind them that Warren Buffett bet a million dollars on a low-cost market index fund to beat 5 super stock pickers. Buffett recommends you use the Vanguard 500 Index Fund. Why? You can give up 63% of your returns when you use a broker. And if they trade to beat the market they may end up with the historical broker account average of 3.79% not 11% a year. That’s $208,865 instead of $1,021,768 after 34 years.

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

 

Quickest ways to save $3,000 a year

The Federal Reserve's 2019 Survey of Consumer Finances (released in 2020) found that the average, or mean, account was just over $255,000. The average cost of using an advisor or broker was 1.5% a year or $3,825. Since most financial sales people can NOT guarantee higher performance than the actual markets, most of us are better off leaving our money in a low-cost index account. Managed accounts earn only 3.79% vs 11% for an index account. For specific money management solutions, a one-time fee-only planner provides better advice since it is unbiased. Moving accounts is easier since a trustee to trustee transfer is usually free and not a taxable event. Another way to save $3,000 a year is canceling a loan to the US government. The average tax refund was $3,304. You will not incur a penalty if you owe less than $500 each year. So if you reduce your paycheck withholding by $250 a month, $125 a pay period, you will be able to increase your investment account by $250 a month. This creates $3,000 a year or about $200,000 extra in your investment account in 20 years.

https://www.amazon.com/New-American-Retirement-System-Reserve/dp/1461030072

 

Cutting recurring costs can save you a fortune

During this period of high inflation, it is important to note how much certain expenses really cost. Just as I noted above, saving $3,000 a year on your money management can really put huge amounts into your account. One reader was paying 2% of their nest egg each year for their advisor to check their statement quarterly. They moved their money to Vanguard and accumulated an extra $350,000 during their pre-retirement years. They were not only giving away 2% a year, they were losing the gains from that money. This “tyranny of compounding costs” applies to all of our recurring costs. We used to pay extra insurance premium for collision coverage on all our vehicles. We paid $ hundreds year after year until we realized our coverage would NOT pay enough to repair our older cars. This fact led us to take our policy apart so we paid only for the liability required by law. We did not need standard mileage, collision, comprehensive, gap, towing, temporary rental, health care, disability, accidental death, dismemberment, personal injury protection (PIP) and uninsured motorist coverage (UM). We then went through all expenses—cable, internet, life insurance, periodicals, etc to find more savings.

Save big: https://www.amazon.com/Get-What-You-Pay-financial/dp/1492384100

 

Another way the wealthy avoid taxes we can’t

One of the easiest ways the super rich can avoid taxes is by having the assets they donate to a tax exempt organization appraised for very very high amounts. Today Trump’s favorite property appraiser was asked to stop holding up the investigation by the New York Attorney General. Trump took a $21 million tax deductions on his tax returns by having his appraiser value the forest in front of his mansion in upstate New York so high: it’s impossible by law. Our Congress people let folks like themselves reduce their taxes by claiming a deduction for their $million gifts. They give art, land, houses that they have appraised at future or improbable values. Trump promised he would not develop the forest on his property in his retirement years. That development is not possible. This is one reason Trump is under investigation. His appraiser based the value of his property on the possibility that 24 mansions would be built and sold. Local officials have laws against such a venture. Rich people in the area don’t want the ‘low-life’ crowding the back roads and markets. So if the appraisal was faked, Trump will owe New York and USA millions of dollars. Trump’s lawyers may delay paying for years. He may end the IRS probe in 2024. Meanwhile, don’t pay the shortfall for the rich.

Use your tax-Free IRS account: https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup: criminal

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

“I don’t f—ing care that they have weapons”

 

Trump “detached from reality”

 

Trump used mafia intimidation on the defenseless

 

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

 

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

How Govt wastes our money:

Christian Nationalism: evangelical ideology attacks our institutions/lifestyle/politics

Alito: abortion not in constitution: cites 1600 Hale who burned witch, favors marital rape

Feds threaten woman in her home for angry tweets attacking government

States control our personal freedoms: control guns, books, sex talk, vote, prayer, birth, etc

 

FL starts arresting educators for talking about sex preference issues: 1^st Amendment end

GOP primary winners don’t question own elections but dispute Biden’s win: Fascism?

Most Americans, Across Party Lines, Say Government 'Corrupt, Rigged'

Rich buy votes to kill their taxes: IRS manipulated to ignore rich taxes: hurt poor & foes

 

GOP: show a birth certificate, passport, Fed ID, in order to vote even if already on rolls

 

EPA no authority to reduce emissions, global warming: only coal-baron Manchin can

Judge: drug pushers not responsible for opioid saturation WV: addict & doctor did it

309 mass shootings ½ 2022: gun laws not effective: all kids can buy WMD war gun

 

SCAMS/SPINS:

“Slavery” in TX: “involuntary relocation”: Texas tries to ‘brainwash’ children on history

Who Will Care for unwanted Babies? Supremes no; evangelical Christians no; TX no ?

TX uses 1925 law to make women have kids: no choice with doctor: jail likely

 

White nationalist group march along Boston’s Freedom Trail : fascists use Old Glory

Independence Day massacre: impossible for good guy to stop 80 rounds in a minute

 

Brave staff assistant already been threatened: is John McClane available?

IRS used as weapon by Trump: FBI heads targeted for deep audits: no fraud

Trump’s Supremes target liberal agenda since 1960s: reverse precedence; upend customs

Tucker, race “replacement” mouth, says not racist: gives fascist insider info

 

JPMorganChase traders caught ‘spoofing’ racketeering/conspiracy manipulate markets

Joshua D Nicholas caught crypto scam conspiracy securities fraud.

Robert Louis Cirillo CA caught steal $3 million promised high construction loan returns

Megan Hess funeral home owner caught selling body parts: victim’s family in dark

Insurers & advisors pressing Congress to make it easier to tap retirement funds at work.

IRS cracking down on charitable remainder annuity trust (CRAT) abuse.

IRS warns: Companies who promise to eliminate tax debt may sell you out

 

 

CVS takes “opportunities to hold off generic (drug) competition.” Seniors pay more.

Zelle caught deceptively marketing: big fraud problem: no reimbursement

Buy Now, Pay Later plans caught misleading loan terms: long-term burden

 

Jobs

Jobs disappearing: https://www.bls.gov/emp/tables/fastest-declining-occupations.htm

Half of millennials would quit if asked to return to the office full-time

Mass murderer passed checks AR 15, ‘quiet kid’: bring back draft; give kids a real life

 

Brown shirts: Abortion police to track down all the doctors, law breakers and taxis, etc

 

Who owns your account now?

Internet coming to trains, ships, and other vehicles using SpaceX's satellite internet

Benefits for seniors that are not advertised: https://benefitscheckup.org/

New car buying questions guide search for best deal: Feds push national sales standards

 

Cars have been made too distracting: highway deaths up

Park short-term money in short-term bond fund: 2.4% SEC yield

 

Miracles:

Cancer victim now cured after new drug: life after death sentence

Transforming windows into active power generators has just edged one step closer

Sand battery' can store energy for months: sun don’t shine at night

 

July 6, 1957, John Lennon met Paul McCartney at a church social: God loves music

Quantum computer completes 9,000 Years of Work in 36 Microseconds

 

100 people have died in extreme flooding in Bangladesh: France Portugal on fire

Warming: 50,000 people in Sydney told to evacuate their homes: climate shift

 

600 monkeypox cases confirmed in the United States: UK, Germany lead

 

Vatican shakeup: Pope names 2 women to Bishop Committee: espresso gophers?

 

 

Why Vets waited 55 years for honor by US? Must be incontestable proof! Ask Biden

WH reply: “We take careful note of the suggestions, thoughts, questions, and stories”

 

 

 

@

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

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

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

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

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

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

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

 

How can you leave more to your kids?

 

How can you leave more to your kids?

GOP killed the “stretch” IRA that allowed us to leave our unused retirement money to our kids. The ‘stretch’ allowed them to take the money out over their lifetimes. GOP needed to ‘pay for’ an immediate tax bonus to the wealthy. So now our kids will need to pay tax on the whole IRA amount within 10 years after our death.

What can we do now? We still have the tax-FREE Roth IRA conversion to consider. This requires us to pay tax before we die. We can do it in chunks so it can be manageable. Other options: expensive life insurance, stepped up asset, gift to 529 college account, gift tuition, gift cash, and charitable gift annuity.

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

 

A balanced fund may be your best bet in a storm

We are impressed by a fund that has lasted 50 years producing 9.7% per year with few bad years. This fund has 65% bonds and is actively managed. How many mutual funds have been successful for that long? I guess less than a handful. A recent study showed that carrying a portfolio of a higher stock ratio may not provide higher returns. It does increase the volatility. For retirees and those who see hard times ahead, this may be the place to be for now. Vanguard is famous for index funds but John Bogle, the founder, brought this one from his former employer to Vanguard for good reason: quality, integrity and stewardship.

One of the Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

 

6 essentials of auto claim reports

No matter how trivial your accident, be smart. Protect yourself from unseen damage/hidden injuries by making a report right away. Think like a lawyer: the other person’s lawyer. First, report asap. Later their lawyer can’t say “They aren’t really hurt since didn’t report for weeks.” Second, take pictures of condition, road, weather, etc. “Damage not done in accident.” Third, document your loss completely. “There was no laptop and camera in the car at the time of accident.” Fourth, get diagnosis of your own health damage. “They said they were fine when I talked to them.” Fifth, answer questions truthfully. “They couldn’t have had son driving since he was at football practice.” Sixth, stick to facts: don’t offer extra info to other side. “They told the adjuster they had been driving for hours.” Finally, don’t try to outsmart the folks who do claims everyday. Lower your rate by asking for every discount with your new policy.

Shop around: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Did you leave money with a bank, utility, landlord, IRS or employer?

Millions of folks are hurting for money now. It is worth your time to check all your past deposits for money left by mistake. For instance, I found $450 at my parents’ bank after they passed. As executor I went through all their stuff and found money they forgot about. Since it was in a CD earning little interest, I distributed it to my brothers and me. You can pay to have a firm search for you but try going to the state treasurer for the states you have lived in first. Most states make institutions give the unclaimed funds to its treasurer after a number of years. Florida says 1 in 5 of us have left money somewhere. The federal government also tracks unclaimed property such as tax refunds, pension funds, and unredeemed savings bonds that are no longer earning interest. Unfortunately, there is no central database for locating all forgotten funds. A good place to start your search for federal unclaimed property is the IRS. You’ll find important information on how to claim forgotten funds from the IRS here. Also Savings Bonds stop earning interest so you need to cash them at your bank. I found 3 sitting in a desk drawer.

Save on all your accounts: https://www.amazon.com/Stop-wasting-3000-every-year/dp/146108394X

 

Why costs of our investments matter

What happens if we pay 0.04% or $4 vs 2% or $200 a year on our $10,000 investment over our working years? We can give away up to 63% of what we could have had. If our investments are focused on growth, we might end up with $740,961 instead of $1,243,368. That assumes we invest $3,000 a year for 35 years in a stock fund. If our investments are focused more conservatively, we might end up with $185,854 instead of $357,958. There will be a big difference in our retirement income since inflation will take its toll on the lesser amounts over our possible thirty-year stretch. This does not include the effects of cuts in Social Security benefits and higher health care costs.

Be prepared: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

 

Did your advisor steer you to that bad fund because of free meals?

Bank of America just announced that the bank's nearly 17,900 advisors can no longer accept free golf games or many meals from product and service providers. Yes, the secret to Wall Street selling success is OUT. I remember being told early on that “products are sold, not bought.” I learned quickly in my career that we were to push certain products so we could go to the Caribbean, golfing in Naples, and casinos paid by vendors. Products with higher fees and lower benefits had to be sold because the firm needed revenue. This is why the industry paid to have Trump reverse Obama’s fiduciary rule as soon as he got to Washington. Unfortunately, you may be stuck with a bad fund and we doubt that those BoA advisors aren’t going to get “comped” somehow for sales of less than the best.

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

 

Why is Vanguard Group eating Wall Street’s lunch?

Vanguard Total Stock Market Fund has grown by $200 billion since March and is on track to cross the $1 trillion mark in December. Of the world’s top 10 mutual funds, why are they all passive index funds except one? Only one is actively managed by Wall Street gurus. Vanguard funds are owned by us—its retail investors. There are no owners like Fidelity’s Johnson family—one of the wealthiest in the world. John Bogel, founder believed in ‘stewardship’ of other people’s money—opposite of the goal of multi-million dollar salaries/fees. If the stock market provides 10-12% a year over time, we get to keep all of it. We don’t give 2% to those who don’t take the risks we do. Investing is about being rewarded for entrusting our money to profitable companies, not helping the middlemen become rich. Some investors think hedge funds can beat the market and they do for a short time. But they can lose money as quickly as they gain it.

We took the risks: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

 

 

 

**********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 declares ‘war’ on blue states

Dictator on chaos: 300 million guns; 10 million AR

Dictator: “Why should I go to that cemetery? It’s filled with losers.”

Dictator: Taxpayers will pay my rape case damages

Dictator on killer virus: “I wanted to always play it down”

Dictator: Nobel ‘Peace’ Prize winner?

 

 

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

Today’s US news looks like a story about a heavily armed military in the Third World

Trump made workers poorer: most of us making $50,000 got $307 less in 2017 vs 2016

Folks making $200,000+ increased 20%; folks making $10 million+ increased 37%

 

The sharp decline in IRS auditing means tax cheating has become much less risky.

Folks making $1 million+ but paying NO income taxes soared 41% under new Trump tax

Wealthy take PPP business loans but never recall or rehire workers back: Wasted taxes

 

We are paying for Trump’s rape case expenses: How many more cases are there?

Stimulus payments will come closer to Nov 3: watch for celebration by Congress Nov

Stimulus payment paid to Austrians and others who used to work in US: Citizen got $0

 

Army wasted $ millions on ‘walking’ robot …because Pentagon saw Star Wars movie?

Trump’s Medicare head spends $6 million of our money to improve her personal image

 

SCAMS/SPINS:

Scam: Authentic virus contact tracers will never ask for your Social Security number

Newark NJ is model of virus suppression: tracing worked: 86% residents are minorities

 

PO head got job by using his employees to pay Trump for election: illegal, Mr Barr?

Record number rejected ballots ‘trump’s’ voting: signature match is purely subjective!

GOP in charge of counting votes: GA illustrates how Trump can call election “rigged”--not leave 

Trump blocks mail-in ballots in NV, WI court delays mailing out so votes not counted

 

Trump asks trumpers to ‘pack’ polls: “Watch all the thieving and stealing and robbing they do.”

 

For votes Trump bans drilling in FL SC GA : cuts EPA rules/fines everywhere else

For votes Biden quietly assures Wall Street to continue to fleece us: “follow the money”

 

FBI theory: Trump as Putin’s Manchurian Candidate: POTUS motivated to help Putin destroy US

Trump admits lying about virus: kills hundreds of thousands: "I wanted to always play it down."

 

Scam: Beware of a text asking you to "confirm for delivery" for a late package. ID theft

Instacart DC caught taking $ millions in deceptive service fees 

US Air Ducts DLM Services WA caught deceptive adverts/robos, fake reviews, $10 mil  

 

Steven Rodemer CO caught stealing $451,889 from client; promised investments no jail

Hai Khoa Dang CT caught defrauding couple's $2.2 million promised conservative trades

Encore Capital CA Midland Funding failed provide borrowers with proof; 2^nd time; no jail time

API Recovery Solutions, Warner Location Services, etc caught deceptive debt collection

57 people caught stealing $175 million from the PPP virus program for small business

Josh Bellamy Jets caught $24 million scheme to defraud the PPP virus program

 

250,000 coronavirus cases have now been tied to the 10-day Sturgis Rally event

Advisors charging extra fees SEC warns: check confirms/statements: you take the risks!

UBS Plans Higher Fees To Push Rich Clients Out Of Cash: low interest=no revenue 

PO continues to slow pharmacy order: patients (VA) panic when meds sit in PO:

President ‘United’ States mislead us into 200,000 deaths by waiving responsibility no jail

 

Recalls 203,000 Hyundai Santa Fe; 440,000 Kia Optima & Sorento 2013-15: engine fires

Vaccine not a cure-all for everyone: history shows not perfect or effective: 2021-2 masks

TurboTax caught misleading customers regarding free filing: tricked us into paying

 

Drug companies promise to make ‘good vaccine: same folks give us bad meds/high costs

 

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

100 best jobs: salary matches skills—college needed for most; community college assoc.

Most workers say ‘retirement’ is NOT a full time job: 60% boomers keeping their jobs

 

 

Who owns your account now?

Cult membership knows no bounds: he would cancel sick brother’s insurance for a win

Cult leader knew thousands would die and mislead them: Jim Jones is shocked at 200,000

Cult of NJ white nationalism revives 1950s “Better red than dead” for “Better dead than red”

 

MassMutual’s retirement business to Empower: retirement services record-keeping assets 

 

Miracle:

Tech helped blind person run NY City Marathon unassisted. Vibrates when off path

Judge tells Census to keep counting; don’t listen to Trump

Woodland Hills LA reached 121 degrees at about 1:30 p.m Sunday: highest ever

CA fires started when parents reveal the gender of their child: childbirth is miracle

 

Many in my family served/are serving this country and are NOT “suckers” Greater love hath no ..

Evil: leader of country knew thousands of citizens would die but tells them: “it will disappear”

We have lost Two-Thirds of our wildlife In 50 Years: species declined by an average of 68%

 

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

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

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