Where is your portfolio so far in ’21?

 

Where is your portfolio so far in ’21?

Some of our readers have shared their wise decisions to stick with the indexes and low-cost mutual funds. Most use Vanguard funds and don’t trade. They follow the 3 Bs—“Buffett, Bogle and Bible” strategy. Ask your advisor how you did so far in 2021.

 

2021 Total Return Fund                    Long-term Return      Longevity

15.2% 500 Index                                             11.3% since 1976

17.3% Energy                                                    8.8% since 1984

15.5% Extended Market                                  10.7% since 1987

10.4% Health                                                   16.2% since 1984

  6.3% International Growth                              11.6% since 1981

17.7% PRIMECAP                                         14.2% since 1984

16.4% Small Cap Index                                    10.6% since 1960

  5.1% Wellesley Income                                    9.7% since 1970

19.6% Windsor                                                11.5% since 1958

19.0% Windsor II                                            11.2% since 1985

14.3% Average                                                11.6% *

            *Average Annual Returns as of 06/30/21.

Investing just $250 a month in the 500 Index alone can compound (Buffett’s secret formula) to $1,000,000 in 33 years. That’s $99,000 in and $999,999 out.

https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

 

How do we know our advisor is taking advantage of us?

Even the wealthiest get taken by their “trusted” advisor. We are subject to the same bad treatment. I follow the abuse of those who put their hard-won assets with a paid “professional” money handler. If you don’t understand the cool-sounding products you own or how much you paid for them, you are being abused. If you don’t get consistent logical communication from your advisor, you are being abused. I once told my broker to sell my investment in a fund and he ignored my request, advising me to transfer the money to an annuity. My complaint to his boss was ignored. I took my money elsewhere. Wall Street makes it almost impossible to learn about the bad actors. It is easy to get their ‘rap’ sheet of complaints wiped off the record at https://brokercheck.finra.org/. Arbitrators in the Finra-administered forum are “rubber stamping” expungement (delete) requests. Many brokers or their firms settle before the hearing, thus erasing it. If you feel pushed into transactions, you are being abused. The people who get ripped off by financial advisors are those who do not pay attention. Ignoring the details of what you own leads to abuse. Advisors must generate revenue to stay employed so they will interpret your goals differently than you do. You can’t just tell them to “make money.”

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

 

Can our employer help us accumulate enough to retire?

Large employers have the ability to help us with low-cost high-return investment options. A small biz may use an insurance agent to set up high-cost annuities for each person. Both employers can help us grow our nest egg without current taxes but poor and expensive options from an insurer can kill long-term accumulation. Example: Big firms offer us 401k plans with low-cost index funds (0.04%) that can compound our contributions at 11% per year. After having $125 invested in a stock index fund every 2 weeks, we can build a $1-2,000,000 retirement. Our $250 a month goes into a tax-deferred plan so our income tax is less each year. Small firms put us in plans with overall long-term costs of 1-2% which can take 63% of our possible accumulation. There are better solutions for those stuck in these plans but we must pursue them ourselves.

Use this guide: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Do you over think your investments?

Who are these new Wall Street gamblers? The typical soldier in the army of retail traders upending Wall Street is a 31-year old who grabs their smartphone seven times a day to check the assets in their first-ever brokerage account, which may well hold a good chunk of cryptocurrencies in addition to stocks. It is the excitement of the chase, the thrill of beating the paid “professionals” and the fun of doing the opposite of what investment wise men and women profess from experience. When the general stock and crypto markets are booming, neophytes will jump at anything with a good story. Hey why not put down some money since everyone else is. When the ‘other shoe’ drops and markets go against these new players, who will they blame? Will these new gamblers stay pat or run for the hills when their accounts fall. New gamblers are not your typical ‘buy and hold’ investors so new BDs may not survive when buying stops. Gamblers usually don’t know the time-honored “regression to the mean” so they may be financially crippled.

Switch to the long view: https://www.amazon.com/Money-Ball-Investing-Winning-unfair-market/dp/1548831409

 

 

 

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

 

 

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

 

 

Our Jan 6 ‘Truth and Reconciliation Commission’

 

Trump’s Attorney General: “Trump bullsh*t”

 

Finally, Biden fighting for voters

 

Too late: Supremes decide we can’t vote anymore

 

How Govt wastes our money:

Pentagon tells us again “there are no UFOs”: just dirt on windshield or space garbage?

GOP says Biden does not have a done infra. deal: Congress needs another vacation?

Congress to pass Voting Rights Act II after Supremes kill 1965 law: no voter fraud now

 

Court: Facebook can’t be a monopoly since it already bought the competition: too late!

SD sending troops to guard Texas from Mexican invasion: GOP’s private army?

Supremes decide CA can’t see private army funders: rich hide influence in elections

 

Jan 6 coup attempt investigation: little GOP help unlike Benghazi terrorist attack panel

 

SCAMS/SPINS:

B of A Merrill took higher fees on rollovers of unit investment trusts: fine; no jail

Crown Capital Securities caught selling high-fee funds; not offering others; fine $1.3 mill

Crypto sellers take big fees: at casino, the only investment winner is the house

16 Cars That Now Cost More Used Than New: did you want chips with that order?

 

 

Phillip Conley Alpax stole $5 mil caught fake statements with high returns; prison

Burlington Financial caught offering fake debt relief credit repair stole $30 mil; no refund

Robinhood caught giving false information misled about options: fine; $12 mil refunds

 

Isaiah Goodman MoneyVerbs caught promising “safe, secure, profitable” returns: 7 years

‘My Book Live’ data at risk: remote deletion of hard drive by hackers

83 percent of young adults fell for scams, more than any other age group: Facebook leads

 

Google Voice Scam: typically associated with Craigslist when you sell—phone public

Amazon Echo automatically shares your internet with neighbors: we are all connected

 

CA officials won’t travel to states that discriminate: 17 states with hate LGBTQ laws

 

Boy Scouts offer insurance money to sex abuse victims: sex abusers go free; none jailed.

J&J caught promoting opioids in NY and world: fine; no jail: lawyers retire on $27 mil

NC man faked his own kidnapping to get money out of grandparents to pay drug dealer

 

Agora Health publications using deceptive health/income claims to seniors: FTC ignored

Medicare screens: check if you are already covered: https://www.medicare.gov/coverage

Ban on “surprise” medical bills starts NEXT Jan: doctors I didn’t hire bill $thousands$

 

Only unvaxxed admitted hospital for Covid now: half of Americans still say no

Vaxx: “if the government says to do something, you need to do the opposite” Moscovite

 

Inspectors saw erosion from years of sea flooding in basement car park. Miami floods!

Warming warning: Congress waiting for polar ice to float into NY harbor to stop CO

 

Tesla recalls 300,000 3s, Ys made in China: auto driver software fix: no backseat driving

Passenger jumps from plane taking off after fight: mask mandate?

 

Gun play now requires insurance: rights and responsibility: pay to play Wild West is fair

When everyone has a gun, the heroes get shot: hero had killer’s gun so police shot him

Trump on US: “They want law and order”; US indicts Trump org. Trump evades the law.

 

Trump tax-evasion scam: $21 mil tax deduction for not selling his mansion’s backyard

 

Jobs

Surfside Mayor: “We just need to start to get a little more lucky right now.”

FL gov wants juveniles to pay all their lives for mistakes: no jobs, housing, educations.

 

Who owns your account now?

El Salvador currency: Crypto seller installs 1500 crypto ATMs: Bitcoin costs $30,000 ea?

Scotland Yard seizes millions in crypto from money laundering operation

Are there FREE colleges: some requirements

 

Miracles:

Nearly all COVID-19 deaths now in people who weren’t vaccinated: even Trump got vax

MIT builds computer from molecules: almost perfected

Jonathan Bauer jumped off bridge to save toddler who fell into bay after a vehicle crash

 

Virus mutates back in LA: Masks required indoors

West: British Columbia reached 121: Warming buckles roads GOP is silent

$949 cancer test: reduce 5-year cancer mortality by about 40% prevent 100,000 deaths

 

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/

 

Is Warren Buffett's Investment Strategy right for you?

 

Is Warren Buffett's Investment Strategy right for you?

His strategy is to Set it and Forget it. "… Our favorite holding period is FOREVER.” We manage our account only once a year! We contribute $9 a day, $250 a month:  Accumulate $55,000, $200,000, $1,000,000 over time. Also our readers use a special IRS account for Tax-FREE income. We use only low-cost high-return mutual funds. Warren Buffett's Investing Strategy is buy and hold FOREVER high earning companies. This allows compounding to work. Compounding is money earning money on its earnings when it is invested. Invest your money in businesses sharing profits with you and over time you can reach $1,000,000. A special account makes it tax-FREE. Tax-FREE is like a $300,000 bonus. When we invest in successful businesses, we can earn 10% to 12% a year. After 10 years, we can have $55,000 because the businesses paid dividends and we reinvested them. After 20 years, we could have $200,000 and after 33 years, perhaps $1,000,000. Over time, stocks are safer than bank CDs because we earn more than inflation subtracts. We have more buying power. Compounding works best when we put our money to work in successful businesses paying us dividends and stock splits. When we use a low-cost AND tax-FREE account, we avoid fees and taxes so we keep more of our money to compound. This chart gives us some idea of how fast our investment can grow if we invest it in businesses like the ones we use every day.

https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

 

 

What securities do you own for the economic recovery?

Of course no advisor or fortune teller can predict the markets in the short-term. However, it makes sense that as we recover from the pandemic layoffs, businesses will rehire and expand. Usually the stocks of companies have risen after a downturn. Looking at the big picture, we note that equities have done well over the last 10 years. The index of 500 large firms has increased since 1995. Our interest rates have remained low. It would be hard to imagine a reversal of the trend at this time. Our best strategy might be to take Warren Buffett’s advice to invest our long-term money in America’s best firms and our short-term money in government bonds. Some readers invest in a S&P 500 index for retirement and a bond index fund for the short-term. Some use a Target Date fund which automatically moves money from stocks to bonds as you get closer to retirement. Every study shows that low-cost funds beat high-cost funds in every period.

Make Buffett your advisor: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

 

 

How to stop paying the taxes the wealthy avoid?

A new study shows the super rich are not disclosing their income and so avoid paying their fair share of taxes. Because Congress is dependent on them to fund their elections, our representatives don’t provide strong auditing people to the IRS. “The IRS needs a lot more resources from Congress,” said Daniel Reck, a lead author of the study, via email. He said the agency should “invest in more comprehensive examination strategies, involving audits of individuals, pass-through businesses, and other private entities (charities, trusts, etc.). It needs to hire and train large numbers of experts to conduct those more comprehensive examinations.” Congress gave most of the tax breaks to the wealthy in 2018. “Ninety of the Fortune 500 companies making billions of dollars not paying a cent in taxes.” A working person has a greater chance of being audited for $500 than the wealthy who hide $ billions overseas. In total, nearly $1 out of every $12 earned in the United States is sheltered from federal income taxes because of the sophisticated evasion techniques of people earning more than $200,000 a year. We have only one legal way to avoid paying the taxes the wealthy are avoiding. Use the IRS code to help yourself. Contribute up to $7,000 to tax-FREE account by May 17: less tax later.

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

 

The simple but powerful investment strategy

John Bogle, founder of Vanguard Group, had only 4 investment rules that became the standard of long-term investors. 1. don’t rebalance your portfolio. 2. use US market funds. 3. diversify: low-cost stock and low-cost bond funds are all you need. 4. relax: long-term investors have time to accumulate enough for retirement. Time and compounding stock returns of 10% a year create wealth. Warren Buffett recommends Vanguard funds for investors who have confidence in American companies. “My wealth has come from a combination of living in America, some lucky genes, and compound interest.”

Living well: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

 

 

Where is that refund?

The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App.

Where is the stimulus 1 or 2? If you did not receive stimulus 1 or 2, start filing here: https://www.irs.gov/newsroom/recovery-rebate-credit.

 

Have tax forms; will file … for FREE but WAIT . . .

If you have unemployment income, ObamaCare coverage you should wait to file since the IRS has not yet implemented tax-FREE provisions of the new Covid law. If you already filed and paid tax on your unemployment income, IRS says it will send you a refund of the tax automatically. DO NOT FILE an amended return to obtain a refund on this tax. Taxes due MAY 17 not April 15. Input the W-2, unemployment, SS benefits, IRAs, pensions, RMD, brokerage, etc. forms you have. You can file for FREE online. If you didn’t receive a correct form, file a Form 4852.  Usually filing your state return costs as little as $15 unless you buy the Pro helpline. Avoid $300-400 paid preparer fees—new IRS forms mean higher fees. Unemployment insurance is TAXABLE on the Federal income tax return; not on some state returns. Some states do not tax your SS and pension benefits.

 

Retirees did not have to take their RMDs in 2020 so taxes may be less: it was a good time to convert IRA to Roth IRA for tax-FREE future. Unless you were self-employed, you can’t deduct home office expenses of working from home. You can deduct as medical expense all Covid prevention supplies. Some states continue the health insurance mandate and penalty unless you have an exemption. Since the IRA contribution deduction has no age limit now, you may reduce your income/taxes by making a contribution of up to $7,000. The standard deduction went up to $12,400 single; $24,800 joint. Jan 15 last day to make 2020 estimated payments. You have to report your April/May and December/January stimulus payments even though they are not taxable. Some of us receive a bank credit; some a debit card; some a check. Even if you don’t have to file, you should file so scammers can’t use your SS number to mess up your IRS file. Tested E file software ratings. Efile Jan 15; IRS processing Feb 12.

E file avoids covid at your preparers’ office: https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

What to do if you can’t pay by May 17?

Avoid the penalty for not paying estimated tax. Ask for an automatic extension to file till October. If that does not work for you, you can apply for a payment plan. An individual can setup an IRS installment plan if you owe $50,000 or less and can pay back the amount owed in 3 years. If you are a business owner, you can setup an installment plan if you owe $25,000 or less. The IRS will charge a one-time fee of $105.

If you own less than $25,000 and can pay the amount owed within six years, ask the IRS for a streamlined payment agreement. The IRS will charge a one-time fee of $102.

Request an Offer in Compromise if you cannot pay the total amount owed. This allows you to settle your tax debt for less than the total amount owed if you will be unable to pay back the total amount owed within 10 years. The IRS will charge a one-time fee of $150. Given the pandemic economic hardship, apply for the extension to file now: https://www.irs.gov/pub/irs-pdf/f4868.pdf

Special circumstances help: call the IRS Taxpayer Advocate Service 1-877-777-4778 for free assistance.

 

 

 

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

 

 

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

 

 

Americans killing Americans: New gun sales at record level

 

 

Our ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

Congress cuts IRS auditors so wealthy keep $ billions we need tax for debt they made.

Biden’s $2.3 T infrastructure cost less than Trump’s $3.9 T tax cuts for the wealthy

 

91 Fortune 500 companies paid $0 taxes: average corporation paid just 8% in taxes

HALF seniors pay tax on Social Security benefits: up from 10%: rich pay less; we pay more         

 

States lifting Covid bans: cases and deaths rise 555,000+

Hospitals, even nonprofits took pandemic money for profit and dumped 1200 workers

 

SCAMS/SPINS:

Trump’s SS head refuses to let IRS send $1,400 to 30 million SS beneficiaries

Trump’s post office admin still holding up mail: Biden on the fence?

Trumpist ‘scientists’ fired from EPA: 40 industry lobbyists go back to pay to play roles

Trump sued by 2 Capitol police for causing their injuries from his domestic terrorists

 

RoboCalls rising: how to stop some unknown callers: pay to stop others using our phone

Fake IRS logo phishing scam asks all your info for “Tax Refund Payment” etc.

 

GOP to jail good Samaritans: give water to folks online is a crime: Trump got to GA gov

GOP legalizes discrimination: states make sure no Dems win ever again: Trumpist win

FL GOP copies GA voter suppression: no water within 150 feet voting. No voter fraud!

 

GA suppression laws are unconstitutional and violate the Voting Rights Act. 

China’s new law will drastically restrict the right of Hong Kongers to stand for election

 

MO to legalize vigilantes whose guns ‘belong to state’ so no registration, limits, blame

GA makes it easier to kill people in GA: Killings in spa had no effect on GOP

 

Man not guilty of rape in MN if woman has a drink: NY has same law: men made laws

Man kicks 65 year-old Asian female in street outside Brodsky condo: everyone watches

 

Toxic chemicals we use everyday: Strawberry pesticide residue

UV disinfectant wands claim more than can be proved: use wipes instead

FL bans suits against business for Covid-related deaths/infections/damage/harm: blame self

 

Wall Street shaken by collapse of hedge fund: risking more than they could afford to lose

Michael Carter VA caught making $ 6 million unauthorized transfers from clients: 5 yrs

Anthony Diaz PA caught selling $3.5 mil “low-risk guaranteed” alternatives: 17 yrs

Tom Girardi CA caught misappropriating millions in client funds, dishonesty 

Douglas Elstun MO caught overcharging clients in high-risk leveraged and inverse ETFs

 

Being evicted?: what you can do to stay off the street: ban extended to June

 

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

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

IRS tips to avoid scams: https://www.irs.gov/newsroom/tax-scams-consumer-alerts

 

Is it a scam?  Check AARP scamline 877.908.3360. BBB Scam tracker

 

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

Find tax preparer: https://www.irs.gov/tax-professionals/choosing-a-tax-professional

 

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

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

 

Jobs

Reagan’s 1986 pathway to citizenship for undocumented revived: TX CA need workers

916,000 new jobs in March; manufacturing up to new high

 

Who owns your account now?

The medical gods are sometimes wrong: always get a 2^nd opinion on everything

Vaccines only good for 6 months: most of us will need booster/masks years?

 

Miracles:

Asteroid Apophis won't hit Earth for at least 100 years: Congress has time to think of fix

The Louvre just put its entire art collection online https://collections.louvre.fr/en/page/apropos

U.K.report says there’s no institutional racism  but “overt and outright racism persists in the UK” ER

 

 

 

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/

 

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/