Where has your advisor left you in 2022?

 

You can still afford to retire

Repairing your financial future can be done in steps. Take stock of where you are now before 2023 so you can use tax credits/deductions before 2022 is over. Consider some of the changes in retirement contribution limits and tax credits for 2023. For instance, Congress is still considering changes in refundable credits. Recent stock market history implies that we may see a large bump up in portfolio returns in 2023-24. Be ready to take advantage of those gains to catch up with your retirement plan. Many investors forget that once out of the market to try to avoid the downturn, they may miss the quick upturns that can happen in a 10 day lurch. Save money like billionaire Warren Buffett. Invest your tax refund for a $1,000,000 retirement fund in 35 years.

Use tax-FREE account: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

 

Deduct $3,000 from your income; reduce tax

Before Dec 31, you may be able to sell some of your losing assets which allows you to deduct up to $3,000 this year from your income. I sold $3,000 of my Vanguard 500 Index since it is down for the year. I kept the rest since I know it will rise in future months. I don’t know when it will rise but I can afford to wait since I don’t sell in a panic and I am fully diversified. Look at the history of the market returns: 2008  -37.22; 2009    27.11; 2010    14.87; 1974    -26.95; 1975    38.46. Since I started investing in 1971, the market is up 12.69% a year on average. That beats CDs, bonds, real estate, gold, speculation of any type. Even in bad times like 2022, no fund has beaten the market index. Our government allows us to deduct the loss at $3,000 a year, every year until we have deducted all of our loss. So join the Tax-Credit class.

Pay less tax like the millionaire class: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

Where has your advisor left you in 2022?

The financial services industry (your broker and advisor) did very well this year. BUT:

The average retail investor's portfolio is down 30%, compared with the S&P's 17%, according to Vanda Research. Tesla accounts for ~10% of the average active retail trader’s portfolio. So as the stock plunged ~55% this year, it wiped out $78 billion in value for retail investors, per Vanda." Overtime, these are the best market sectors even now: https://www.businessinsider.com/forgetful-investors-performed-best-2014-9.

In 30 years the average investor earns just 3.79%, not the 10-12% market rates. (QAIB)

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

 

How much of our charity donations can we deduct on our tax return?

Americans have always been known to be generous. However, the least able group to give (by income); gives the most as a percentage of their income—over 8%. The wealthy give less. The superwealthy obtain the deduction but retain control of who benefits. They use donor-advised funds and foundations to control who gets their charity.

IRS: deduction amount and average percentage of AGI:

 Under $50,000 $2,588 deduction == 8.4% of income

 $50,000 under $100,000 $3,305 == 4.5%

 $100,000 under $500,000 $5,124 == 2.9%

 $500,000 under $2,000,000 $25,510 == 3.1%

 $2,000,000 under $10,000,000 $164,814 ==  4.4%

 $10,000,000 or more $2,813,343 == 9.3%

All returns $6,332 == 4.3%

https://www.amazon.com/Most-U-S-Corporations-Pay-No-Taxes/dp/1514274116

 

 

Most frequent cited financial regrets by retirees

1. Not working longer. 2. Not having insured income. 3. Claiming SS benefits too early. 4. Becoming financially dependent on others. 5. Not accumulating larger retirement fund. The most influential factor was shocks experienced earlier in life (e.g., divorce). The present paper considers different explanation for financial regrets--people may simply not understand how long they will live in retirement, leading them to make suboptimal life cycle financial decisions. Make your plan now.

https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Parallels of this era in the past may hint at our future: democracy breaks apart legally

 

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

Billionaires paid $881 million for votes in 2022 midterm elections

 

Nov 2020 Wealthy discredit election process

 

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

 

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

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

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

 

Trump was “detached from reality”

 

Trump used mafia-style intimidation on the defenseless

 

Parscale: “a sitting president asking for civil war.”

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta: Two Americas

 

Trump: President Biden is 'enemy of the state'

 

Christian Nationalist Party (CNP) replaces GOP

 

Nov 8 2022 Trump’s “national revolution” failed

 

Nov 15 2022 Trump announces for 2024 to avoid lawsuits

 

Dec 3 2022 Trump: cancel Constitution rules so ‘I win’

 

Jan 2025 Dictator pardons himself: his Supremes agree

 

 

How Govt wastes our money:

1966 moon capsule splashdown in ocean: repeat moon shot wastes $93 Billion

Our tax money given to GM and LG to make lithium batteries? in OH TN MI

Buttigieg, transportation, often flies on taxpayer-funded private jets: fears confronting

 

NASA loses control $252 million ICON satellite, fears failure: no refund

Fentanyl is now the leading cause of death for Americans ages 18 to 49

Biden stops Sanders bill to stop helping Saudis kill Yemen citizens: leverage oil?

 

Biden tries to cut inflation by cutting jobs not excess profits and tax avoiders

 

SCAMS/SPINS:

Financial aid letters don’t reveal the real cost of college: fees, charges, costs added

Fisher Investments: “make money only when you make money” except fees every month

Fraudster Sam Bankman-Fried's gave $20 million to PACs and parties: Fights extradition

 

SCAM: Don’t click email with any of these subject lines in your inbox

8 fake traders CA,TX,NJ caught “pump and dump” scheme 2000: stole $100 million

Lawrence Billimek Nuveen, Alan Williams trader caught insider trades: net $47 million

Trump to pay for crimes by selling pictures of himself: $99 each: not rich anymore

 

We have done nothing about killing our children: 20 at a time in school: WMD are legal!

Glock switches have the ability to shoot 35 rounds in five seconds: TX machine guns

3 terrorists get 10-12 years in prison: kidnapping gov over mask mandate to save lives

 

TX to round up data on LGBTQ citizens: gender change records taken

 

Trump’s co-conspiracists plan to use our military to overthrow duly elected government

Trump’s to pay $4,000 fine for “willfully disobeying” four subpoenas: no deterrent!

D.C. Bar lawyer calls for Giuliani’s disbarment: filing suits to overturn gov is wrong

 

Twitter: don’t use it for biased news: one megalomaniac is enough:

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

 

 

Jobs

jobs-that-let-you-set-your-own-hours

 

Who owns your account now?

Best energy system: Heat pump vs Solar panels—pro & con

Start withdrawals from IRA, SIMPLE IRA, SEP IRA, retirement plan when you’re 72

Even Artificial Intelligence models can’t beat the low-cost index fund

40% dads believe parents hosting adult children is bad while only 12 % think it’s good

 

Miracles:

Picture worth thousands: https://twitter.com/DavidCayJ/status/1600229045387419648

How brain physics Distinguishes Memories From Perceptions

Winter Olympics may have to be held in Antarctica: global warming forces sites studied

Church turns into garden club; food pantry as people skip pews: do good works

 

Moderna's mRNA Skin Cancer Vaccine Shows Early Promise in a New Study

Arctic is Heating Up, Disrupting the Planet and Local Communities injured

Fusion experiment had net gain in energy but forgot to add energy to charge lasers

 

 

 

 

@

 

Our Universe is Mind-Blowing

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

I don’t think that there is any such thing as a position or a velocity of a particle.

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

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

 

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

Energy into matter: scientists converted light energy directly into matter in one step

Physics Nobel Prize: “entanglement” 2 particles share info instantly at a distance

“It may be that gravity and quantum mechanics are exactly the same thing,” Leonard Susskind

Gravity might induce the collapse of quantum vibrations into 1 quantum state—our world

 

There is no TIME at this level because of force fields come and go in all directions. 

Universe expanding: events may not come together like they did before.

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

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

The electricity we use comes from the field around the wire not from election itself.

Scientists build 'baby' wormhole as sci-fi moves closer to fact: inside quantum computer

 

 

 

@

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/

 

Panic or calm strategy now?

 

Panic or calm strategy until US economy straightens out?

Whatever we expect to happen, history shows we will be wrong. So do we panic and sell as some of my readers have done. Or calmly wait for markets to find a new path? History is no predictor of the future but last time we had an upheaval, most investors who held on were rewarded. We had +31% and -32% recently. The story since 2000 is an annual return of 7.6%. Over most 10 year periods, we have earned more than investing in cash equivalents. Investing in a low-cost stock index fund returns 11% annually. American capitalism has consistently provided dividends and value gains. Fixed income and bond securities cannot match stocks for any 10 year period. So some of my readers have divided their pre-and post-retirement portfolio in HALF: 1/2 in a stock fund like Vanguard 500 Index to earn 11% for 10 to 30 years for future income. 1/2 in a balanced fund like Vanguard Wellesley Income to earn 5-6% for 1-9 years for current needs.  

2020        15% so far

2019        31.10

2018        -4.41

2017        21.94

2016        11.93

2015          1.31

2014        13.81

2013        32.43

2012        15.88

2011          2.07

2010        14.87

2009        27.11

2008        -37.22

2007          5.46

2006        15.74

2005          4.79

2004        10.82

2003        28.72

2002        -22.27

2001        -11.98

2000        -9.11

Low cost beats high cost for any period so no matter what happens, avoid fees.

Pay less; get more: https://www.amazon.com/Pay-less-Get-more-investment/dp/1500598321

 

What is financial freedom?

The last 9 months has shown us what real financial freedom means. With 30 million of our fellow Americans out of work or in reduced-earnings work, we see why many are angry. Since real wages have lagged way behind the economic growth of the past 40 years, fewer of us have experienced “financial freedom”—the ability to weather a job loss or health care crisis. Those who had an emergency fund, a large retirement fund or a home equity line of credit are near the maximum withdrawal point. Many of the social security network programs created in the Big Depression are ripping apart. According to many who study the history of wealth creation, those who used “compound interest” have been able to survive this test of financial health.

Help your child get started: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

Hate paying taxes? Cut taxes with a deductible IRA

The year we turn 72, we must begin paying tax on our tax-deferred accounts like IRA and pensions. We are told how much to take out in the form of the IRS table of required minimum distributions (RMD). When we are earning wages and pulling out RMDs, the tax consequences can result in higher tax rates and an increased percentage of our Social Security benefits being subjected to taxes. Now we can make deductible IRA contributions after age 70½. In the past, RMDs began at age 70½, but following the passage of the SECURE Act in 2019, it was raised to age 72. Similarly, the law used to put the lid on traditional IRA contributions after age 70½, but the new law does not have an age cutoff and allows additional contributions as long as you are still working. Even a part-time or self-employment job like Lyft Uber will qualify. We can deduct up to $7,000 each depending on income. On the other hand, if we would rather create a tax-FREE retirement, we can contribute to a Roth IRA from our wages. If we have a smaller tax bill this year, we may choose to convert over $7,000 to the Roth from our traditional IRA. Many readers are planning on having tax-FREE and taxable income in retirement. They feel this is a good time to take advantage of an expanding stock market and save more.

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

 

 

 

Are the new ETF risks worth it?

Today securities regulator approved a controversial new rule that will allow ETFs’ to double their use of leverage and derivatives, while ignoring sales practices constraints that had originally been proposed. Leveraged and inverse ETFs appeal to investors and have brought in more fees, but not without significant risks and sometimes losses to investors. The SEC removed new sales practices regulation from the proposal that would have created higher standards of care and disclosure for reps and advisors who sell geared funds, or exchange-traded funds (ETFs) and mutual funds that track a variety of benchmarks. “Evidence suggests that retail investors buy these products without understanding risk and or objectives,” SEC Crenshaw said. “Just this morning, [SEC] Chairman [Jay] Clayton issued a statement that said Reg Best Interest will do nothing to protect these investors who buy these products through self-directed brokerage accounts." Most disappointing is the SEC’s failure to advance proposed sales practice rules that were designed to address the investor harm rising from sales of leverage and inverse ETFs. Enforcement cases from the SEC and Finra show that even investment professionals often lack a basic understanding of these complex products, member Lee added. “Indeed, other types of complex products not addressed by rule may cause similar harm to unsophisticated retail investors," Lee said. "But that does not justify why we fail to act now to protect retail investors in inverse and leveraged ETFs.” A new Fiduciary Rule will protect investors and Manhattan’s former top prosecutor may lead SEC.

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

 

Which retirement strategy is best for you?

Many young investors are choosing to take their tax free earnings later rather than immediately. With a 401k or other deferred compensation retirement plan we pay no income tax on our contributions from our pay check. We pay later. With a Roth 401k or Roth IRA we set up at one of the low-cost mutual fund firms (Vanguard, Fidelity, Schwab), we pay taxes now on our contributions but pay nothing on the gains during our lifetime. For example, we invest $250 a month in a low-cost stock fund at work for 35 years: result is $1.1 million. If we pay taxes on the $105,000 contributions, we pay nothing on the $1 million when we take it out. If we use a regular 401k with deductible contributions, we pay taxes on $1 million when we take it out (future tax rates may increase). If we are lucky, our employer matches our contributions. But fees charged by some small employer plans make the 401k/403b choice a bad one. Imagine investing in a mutual fund with stocks and bonds paying about 4-6% and having to pay 2% to the plan administrator plus surrender charges of 10% if you change jobs or move your money. This is what some of my readers had to contend with. They switched to a Roth IRA.

Consider paying less later: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977/

 

American socialism in action: vaccines for some; cost for all

Pfizer’s vaccine for the pandemic should be available by mid ’21. But did the capitalists at Pfizer really take a financial risk that must be rewarded with huge profits? A vaccine for some Americas requires a big company with the capacity to produce it. However, without a guaranteed $1.95 billion “advance purchase” agreement with our government, ensuring it would be well compensated for delivering 100 million doses of vaccine, it would never have happened. Capitalism simply can’t take risks without some form of framework that assures it of success. As many wealthy people have said: “I don’t bet unless it is a sure thing.” Drug companies and capitalist don’t take risks, unless there is a framework for profit. We, our government, are always the backstop. The 2007-8 Wall Street bailout costs us over $12 Trillion—perp never went to jail. We have been buying the bonds of businesses (giving loans) since March’s pandemic. We have been paying money (unemployment) to those who were dismissed by businesses even when the business got money to keep them employed. Many profitable businesses pay workers so little, we must pay Medicaid/SNAP too. We have been paying money to some businesses (subsidies) for 50 years even though they are profitable. ($3.8B Exxon alone) Even some of our representatives get paid twice: salary plus farm subsidies. Some businesses get away with tax avoidance. Of course the rich don’t consider their business “subsidies” or tax avoidance to be socialism and so our reps keep supporting this socialism (gov subsidies). And our representatives are rewarded for helping to the winners win.

Time to ask for the subsidies back: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Did your new vehicle lose 50% of value?

Do you consider the trade-in value when you bought your new car or SUV? Probably not. What about when you bought a used version of the model you like? The loss in value is called depreciation. That is what determines the amount you would receive if your vehicle was “totaled” in a collision. Some of the most expensive wheels top the list of lost value: BMW, Mercedes, Maserati lose over 60% (up to $80,000) in 5 years. I suppose the well-heeled don’t care about that since they can afford it. But if you care about getting your money’s worth at trade-in time, then Toyota is your best bet. One exception: Porsche 911 loses only $56,000 (36%) over 5 years. For the truly thrifty—least money lost over time--it is a Honda or Toyota. Yes there is some correlation with the JD Power dependability study: Porsche and Toyota least problems. Ten cheapest 2020 model cars to insure based on costs to repair.

Get a good deal on insurance too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

 

 

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

 

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

 

Trump’s war: 250,000 KIA

Trump defies Supreme’s decision

 

Can we ever trust our government again?

 

Our ‘Truth and Reconciliation Commission’ 

One GOP Gov moving OH to overcome crisis

GOP wants to “un-elect” Biden despite final score

 

Biden displays conversations with world leaders like previous presidents so we know what is going on in the world. Transition posts its ongoing work to get ready.

 

 

 

 

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

Trump sickens 130 Secret Service: his rallies made people sick—too close, few masks

Seat-belt wearing law saves lives: masks save lives and personal freedom to live!

Medicare Part B premium $148.50 up 2.7%; taking some of the SS benefit rise of 1.3%.

 

After gov pays to develop vaccines, we will personally pay up to $250 per dose

Trump considers starting war with Iran: nuclear danger 12 times the ‘15 Obama deal.

Trump hurries to sell Alaska Wildlife Refuge to friends: bull(y) in china shop

 

Trump’s lawyer says it’s a “national conspiracy” by states: 80 million fake votes?

Will Trump shutdown government in final revenge act on Americans? Revenge

Trump country ND leads the world in deaths: 1 in ever 1000 dead: real not hoax

 

 

SCAMS/SPINS:

Trump installs his donors to run military: ‘It’s ‘The Twilight Zone,’’ the official said. Trump installs his meteorologist who says “carbon dioxide in atmosphere is good thing.”

Could Trump give up our gov secrets to foreign powers to cancel his debts?

 

Power of ideology/money to change us: Trump’s lawyer Jenna Ellis: ‘idiot’ to POTUS

Trumpism: ‘They know it’s real and they don’t care.’ ‘People are not being cautious at all.’

“If someone can choose abortion and end human life, then I can choose to wear a mask or not.”

 

Could Don Trump replace Alex Trebek on Jeopardy: learning the truth 1 question at a time?

 

GOP: No masks; more deaths proved ‘correct’ strategy for winning IA, WI, ND, MT locals

Emergency nurse: patients deny virus that kills them, still: drank the Kool-Aide

Medical leaders to Trump: work with Biden or “more people may die”: blood on hands

 

Voter fraud ‘proofs’ being faked to mislead us: GOP states have reported no fraud

Trump fires voter fraud watchdog for doing his job: https://www.cisa.gov/rumorcontrol

Trump lawyers giving up voter fraud suits: Giuliani, not practice in years, is it! $20K/day

Graham pressured GA official: find ways to exclude ballots from count. GOP fraud

Judge to Trump: “You are not entitled to manufacture your own law”

 

Lobbyists infiltrate Biden government early. Former gov employees rotate in/out.

Conservative lawyer hired as Biden WH Counsel: protection from GOP critics?

 

Catholic officials sexually abuse children: why are they exempt from jail? Citizens jailed

Pope cop out: “who am I to judge” McCarrick & officials who hurt little children for life

Boy Scouts face at least 88,500 claims of sexual abuse: Institutions hide bad guys

UCLA sex abuse of students in clinic hidden by officials: $73 million; no jail

President accused of rape; 25 sexual assault; Biden: “no indictments”; no jail; pay offs?

 

Does Hate Sell? Facebook caught NOT removing anti-Harris posts by hate groups

Scam: $1,000 payments for bogus covid clinical studies: “help scientists; make cash”

Debt collector Afni caught giving bad info to credit bureaus; fail correct bad data; dispute

 

Joseph Ashton United Auto Workers caught kickbacks on union watches jail postponed

PIMCO exec CA caught sex discrimination bias in pay promotions report-retaliation

 

Some advisors see gold in them there oil fields: Oil funds down 35%; Energy funds a bargain?

Keith Ashley TX caught stealing $750,000 Ponzi then killed client: B-D terminated him Oct 20

Wells John Stumpf-Carrie Tolstedt caught misleading re: mass "cross sell" unauthorized accounts

 

James Booth caught defrauding clients $5 million Ponzi promised high returns; jail 4 yrs

Five investment firm caught selling unsuitable exchange-traded funds linked to market volatility

Matthew Piercey CA caught misleading investors multiple schemes, fraud, Ponzi, steal $35 mil

 

Amazon recalling 350,000 Ring Video Doorbell (2nd Generation) starts fires 

NRA caught misleading members on criminal defense insurance; keeping some premium

Movie theaters eclipsed: Warner Bros releases Wonder Woman to HBO same day: 12/25

 

Covid cures/treatment bracelets, drugs, fitness class, ozone, stem cell, lights, injections SCAMS

 

GM recalling 68,677 Bolt electric cars worldwide that pose a fire risk: full charge fire

Ford recalling 2020 Explorer and Lincoln Aviator SUVs to replace the driveshaft

Ford recalling 15,587 2014-16 Ford Edge, Explorer, Taurus tranny fails

Car prices shown on Carfax do not include dealer “fees”: “great value” may not be.

 

Lawsuit Trump has doomed us to hell is thrown out: “misleading people, deceiving them to sin”

 

Scam vid seen by thousands was joke: voter official destroying a ballot for Trump faked.

10 internet scam techniques: “just exit screen” don’t click on anything or else

737 Max: Same guys who approved the first time approve it again: none have flown in it

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

 

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

Florida passes $15 minimum wage—but you have to wait: 2026 in fight for fair wages. 

Most unemployed can find a health plan for $10 a month or less on HealthCare.gov.

Get ready for unusual tax year: steps-to-take-now-to-get-a-jump-on-next-years-taxes

 

Women financial advisors: women with money prefer working with women advisors

 

Who owns your account now?

Bank America Merrill Lynch advisors now offer Vanguard, American funds to customers

Top Medicare Advantage plans: JD Power customer satisfaction rating: Highmark,Kaiser

Amazon pharmacy: Most insurance accepted; Prime buy generic or brand discounted.

 

IRS offers extra time to delay paying taxes: help-those-financially-affected-by-covid-19

First Time Penalty Abatement: you may qualify for relief from penalties

Refinance VA loan with special rates: still pay bank fees, closing costs

 

Miracles:

Turkish immigrants made vaccine Pfizer is making to help us get past virus: Scientists!

North/South Dakota leading the nation in new cases: GOP resists mask mandates 250K

Our immune system works if we let it grow: antibiotics early in life hurts later life health

Covid vaccine 95% effective but how long are we protected from getting Covid again ???

 

30 min Covid-19 self-testing kit $50 at-home diagnosis: accuracy 94%: costs vary.

Experience really foul smells of 16^th century people who never bathed, relieved in street

Make diamonds in minutes: finally you don’t have to wait for that big ring.

 

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

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

 

Perfect time to convert part of your IRA to a Roth IRA

Is putting off retirement right for you?

A quarter of Baby Boomers plan to postpone their retirement. The virus pandemic has changed a lot of lives and plans. If you start Social Security benefits you cannot go back. Previously this was allowed. This makes your decision all the more important. Many will wait because they do not wish to begin taking retirement money from an IRA or pension now. Studies have shown that doing so can hurt you in later years if you have a big reduction in your nest egg immediately. If you have 30 years in retirement, you don’t want to begin with a bad 1^st year. Also, this is one of the worst times to buy an annuity since future benefits are calculated on the current very low interest rate. You could only receive $437 a month for life in return for your $100,000 if you were male age 60. On the other hand, if you had to retire due to job shut down, you could receive $896 a month for 10 years in the hope you would be better situated later. Delaying SS benefits to age 70 provides a much larger monthly income: $3,790 maximum for someone who files at age 70 compared to $2,265 maximum for someone who files at age 62. Maximum benefits require higher incomes for your final 35 years of work. The average benefit is $1,503. Also remember taxes are due on up to 85% of SS benefits if your total income is higher unless you have tax-FREE Roth IRA income.

Create tax-FREE income: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

With the virus passing 4 million, what can you do to save your nest egg?

If there's anything you should expect out of 2020, it's volatility and unpleasant surprises. Most people are checking their account more often and that is a recipe for disaster. Panic selling is what happened in 2007-8. The stock market fell 37%. Some investors think they can avoid the market drop by selling. But your advisor doesn’t know when the market will come back as in 2009-10 with 27% and 15% growth. We can’t control the virus or the market so we must focus on our nest egg end time. A stock market index fund is the only asset class that has proven 11% returns over time. Wealthy investors in hedge funds etc have a really bad record of losses. They can afford to take a chance on alternative assets; we can’t. Warren Buffett, one of the most successful investors, says holding a low-cost stock index fund so we take advantage of compounding earnings is the best way to protect our nest egg, rain or shine. Costs are all we can control.

https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

Is buying the ‘hot’ fund now right for you?

Advisors and young investors try to pick the ETF funds that are rising or will rise during the current conditions. They want to ride the wave to the top. Problem is: momentum trading does not work. Over time, picking the hot security usually results in disappointment. Why? No trend lasts for long. With index funds of all types, the past trends have been changed—watered down. Be wary: past performance is no guarantee of the future; only the hype. The owners of Wall Street firms are great at the hype. What else do they have? They don’t have a predictable product nor a person who has golden hands nor a crystal ball nor a way to control the underlying factors nor a magic wand. All they have to make the sale to you is the B.S., the “story” as my firm’s FCs used to call it.

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

Why are target-date funds so popular?

Short answer: they use the three best investment strategies available to working people. First, they are usually low cost. This means that over time, you don’t give up over 60% of  your earnings to sellers. Second, they use compounding—the miracle of compounding—earning money on money by itself. Third, they usually hold index funds which can provide 11% earnings from many profitable companies—you are diversified. The added bonus is that as you get closer to retirement, your assets and contributions become less volatile—from 90% stock to 30% stock balance. Unless you are wealthy enough to loose 1/3 of your wealth in a derivative or leveraged hedge fund, this one fund decision is all you need to be a successful investor. It just takes time. Warren Buffett recommends it.

https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

Perfect time to convert part of your IRA to a Roth IRA

If your income and thus taxes will be lower during this pandemic, converting taxable future income to tax-FREE future income may make sense now. If you are over age 59 ½, you can take out IRA money with no penalty—just extra taxes—at lower rates than future years. If your income and tax burden allow it, taking any amount--$10,000, $20,000 even $30,000 from your future retirement account is a smart move now since all the earnings in the future will be tax-FREE. Even if you are in retirement now when you do NOT have to take your 2020 RMD—forced IRA distributions—your tax liability will be less this year so you can afford to take and pay tax on a chunk of your IRA. Because the stock market is still positive, you can convert your stock IRA money to future positive income with no tax in the future. Many advisors see higher taxes in the future (to pay for the Trump tax cuts to the wealthy and virus expenses). You benefit two ways: take advantage of lower current taxes and avoid paying the increase later. You will pay less tax later as you take out smaller traditional IRA distributions AND your future taxable income will be less. Roth IRA balances can accumulate for your whole life without distributions or tax payments. You may be able to avoid income tax on your Social Security benefits too.

https://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951

How the super wealthy—$100 billion—avoid income tax

Zuckerberg’s net worth just passed $100 billion. Can you write $1,000,000,000 one hundred times? He joins Jeff Bezos and Bill Gates in the clouds. Zuckerberg’s net worth is largely derived from his 13% stake in Facebook. Since these guys and other uber gelt holders do not have to take a salary, they have no taxable income. Think of that! Like the old Robber Baron times, they can sit in their home offices and clip coupons/dividends. Yes it is possible to pay no taxes. Our president claimed that he pays no income taxes too. However, we know he owes a lot so that may be how the wealthy buy things—they live on loans. So Zuck, Jeff, Bill and Don can just text their bank and get a loan every year to pay for maintaining their lifestyles. You don’t pay income taxes on a loan. They also don’t pay for the public services they use—airports, roads, courts, army navy air force. We pay for those on their behalf. Because their companies pay for most of their ‘overhead’ private planes, health insurance, gym, body guards, meals, etc, they don’t need to pay much “out-of-pocket” expense either. We pay for that when we buy stuff.

What a life: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-taxes/dp/1539462382

**********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: Supremes picked to delay/overturn election like Hong Kong

Dictator: no press at GOP meeting

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

Trump’s DHS secret police compile secret files on journalists, reporters like Russian KGB

Supremes let Trump take money needed by military to build his WALL: contractor win $millions

Census not counting all as per Constitution: est. 37% not counted, Dems lose Congress seats?

Congress takes vacation all August while we wait for help with virus keeping us from working

$419 millions relief money went to subsidiaries of foreign firms: Trump’s PPP watchdog fired

Trump’s promised health care plan is dead: millions lose employer coverage in July

Trump tax reform benefits wealthy who hold foreign assets over US assets: we pay their taxes.

Eviction, loss of relief $600, job not re-open, virus threat, school?: government fails many.

Testing slows as deaths rise in hard hit states: will schools test every child before spread?

How the “swamp” works under Trump: DHS head gives contracts to his former lobbying clients

SCAMS/SPINS:

Trump’s new voter suppression strategy: delay mail-in ballots so invalid, not counted

Virus is making medical firms wealthy: $175 test? Plus add-ons $2,479. Medicare for all!

HALF kids at GA camp infected, most positive virus tests were 6 - 10 year olds. School?

TX does not count positive virus tests: rapid-result tests ignored: Thousands spread virus

Trump voters believe Trump handled virus pandemic ‘well’: 160,000+ dead so far!

Trumpers threaten Fauci, his family because he gives respected scientific info not B.S.

One man not sick infects 91 +: it is called pandemic for a reason: symptoms in 10 days

Trump in cognitive dissonance: changes to favor mail-in ballots: last week--against it!

Trump: Biden opposes God, Bible, religion, guns, energy, rights, everything American?

Will US election be decided by foreign influence? Adverts, fake news, bribes, hackers?

Kanye West schill for Trump to get votes from Biden: GOP paying to help West in CO.

Consumer defense agency became consumer exploitation agency: loan interest to 500%

Consumer products shrink so we get less for same price: they think we don’t notice

Brian Scroggs, VCS, Transfer Group, Real Travel failed timeshare relief: kept payments

Netflix phishing scam: steal credit card info by tricking you into updating your account.

Gov agency scam: caller ID, agent number, military romance ask for money to get grant

Victor Lee Farias Integrity Aviation stole $14 million Ponzi engine parts leasing scam

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

Materials Handler US Treasury Philadelphia, PA $22.10 an hour https://www.indeed.com

Immigrants constitute 40 percent of home-buyers and help create new jobs.

Who owns your account now?

Check your Social Security statement for correct earnings: it determines your later benefits

Best Cars for Teens Under $20,000: CR picks safe, reliable used cars and SUVs insurable.

Best appliance brands: CR Appliance Brand Reliability Rankings: no “get what you pay for”

States Pull Back On Pension Payments: state budgets don’t allow pension build up now

Miracle:

White cop not charged in Michael Brown’s killing: shot 6 times but “no proof”?

Wisconsin governor orders masks statewide amid virus surge despite GOP objections

Billionaire pays off student loans: continues family tradition of giving

Flu, pneumonia vaccines could lower risk for Alzheimer’s 

Missouri approves Medicaid for ½ million despite 10 years GOP votes against it

Virus tests (quick version) are NOT accurate: OH gov negative then pos then neg.

No-Mask school halls: perfect infection atmosphere: almost like gov wants sickness

Germany doesn’t need us to stop Russia: We did not stop Russia in Crimea/Ukraine

IAN

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