Your Wealth Reserve: guaranteed income

Showing posts with label guaranteed income. Show all posts

Friday, March 24, 2023

In 2024, Roth 401(k)s will no longer impose RMDs

When to start your guaranteed stream of income

Most of us are lucky: we can start our guaranteed income stream whenever we want. We only need to decide how much we want or how much we need to live comfortably. And the bonus at no extra cost is that the benefit grows with inflation. My wife and I began receiving our guaranteed income stream at different times in our life so it is easy to compare how your decision can make a huge difference. I started my stream of income at age 62 because I could find no work. I have been getting my monthly check of $1,691 with inflation step-up for a number of years. It goes right into our checking so we can spend it right away. No wait to clear a paper check. My wife liked working so she waited to start her stream of income till she could improve her benefit no more. At age 70 she began and now she receives $3,495 a month. This is over double my benefit and my last salary was greater than hers. We pay nothing extra for the inflation increment each year and the administrative costs. Medicare costs come out of the benefits automatically so we don’t have to worry underpaying our health insurance plan. These benefits come because we paid for them every paycheck. No supplemental insurance (annuity) could have matched these benefits for life. Plus we get to keep our retirement funds growing—earning more for later. “The question isn't at what age I want to retire, it's at what income.”

https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Have you taught your child how to make tax-FREE money?

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with about $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to buy low-cost insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a month in retirement supplement. Now your child can build an account that provides tax-FREE education and retirement income too.

Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355

If you are worried about your money in a bank, move it

Most large banks can handle your money unless you keep $millions in 0% savings loosing money. Even holding Treasuries isn’t safe. Many of my readers aren’t worried because they are riding out the craziness of the gains and losses of the gamblers’ market moves. When gamblers loose at the tables, they are supposed to go home poorer. The well-connected never have to suffer it seems. Congress is happy to lower the bank regulations for their schemes. Regulators are happy to please the rich and famous, especially if they sit on the same boards. My readers are investing for the long term so they only have to keep their money spread around in profitable businesses as Buffett advises. Over time they have been rewarded with gains and dividends that will help their nest eggs grow. They don’t have to speculate on stocks or ETF during these crisis times. They are happy with most 10-year growth periods. Using low-cost mutual funds that compound over time they have found steady growth—doubling their funds every 7 years. They own shares in real profitable firms making things of value not ticks in a computer. It is TIME, not timing that builds wealth.

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

S&P 500 up 5% YTD vs 5% 1 year CD

Investing is about taking a chance—short or long-term. With your CD, you will always receive your 5% in a year. You will usually pay a penalty to withdrawal early. Your money is guaranteed up to $250,000 unless the government steps in to make you whole no matter how much you lost. This doesn’t happen often. Investing in the top 500 US corporations gives you no such guarantee but you have the chance to earn 32% or lose 18% in one year. However, over time investors have found the 11% average return annually. Average is important. There are bad years. But your funds double every 7 years if you wait. My readers have found that after some time—10 to 15 years—they have a balance that allows them to take out enough money for emergencies. They don’t need an emergency fund as a 1 year CD. They don’t pay a withdrawal penalty if they need the money. With certain tax-FREE retirement accounts they can have their cake and eat it too. They can withdrawal without penalty or tax due. More likely they just keep building a bigger retirement account because the low cost accounts maximize the Miracle of Compounding. That is the Buffett secret to wealth.

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

In 2024, Roth 401(k)s will no longer impose RMDs

The Roth 401k will get even better in 2024. Your money—deposits and earnings—are already tax-FREE after retirement (contributions are never taxed). Starting in 2024 you are not subject to RMDs which make you take your retirement benefit out every year. This means you get to create a legacy for your family without a trust—FREE. You can use your money whenever you wish. The required minimum distributions are required for 401k and IRA accounts because you get the tax benefit at the time of contributions. This lowers your income and tax if you pay in every payday. If you also make contributions to a Roth account, you have the option of never paying income tax on the gains. Thus you could turn your Roth IRA or 401k into a tax-FREE retirement system worth $millions

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

GOP vision of America’s future “freedoms”: what they are doing/will do

Children’s education reduced to DeSantos Conservative ideology

WV bans health care for transgender minors

FL wants to ban the Democratic Party as revenge for toppling Confederate monuments

FL blocks League of Women Voters legal activities (rally, meetings)

FL DeSantis will have a veto-proof majority in both chambers: junta installed

Kids Carry concealed weapons without a permit back to 18

Cancel programs on diversity, equity and inclusion, and critical race theory.

TX takes over Houston Independent School District: GOP not parents will run schools

SC Republicans want death penalty for mothers after abortion: christians? kill women!

Death sentence without a unanimous jury.

Easier to sue journalists you don’t like

Further restrict abortions. TX man sues 3 women for helping his ex-wife obtain abortion

WY medication abortion providers could serve six months in prison

Near-total ban on abortions drives doctors away: ID hospital stops delivering babies

Trump: military to ‘stop’ crime: martial law replaces civilian control of cities: dictator

Couples with 10 kids would have their property taxes cancelled under TX law

Catholic group spent millions to track gay priests: Russia or America?

30 GOP states limit public health authority: next pandemic wipes out million+?

AR Gov bans child sex talk and child labor law limits: roll back child labor protections

Child abuse? kids under 16 can marry in West Virginia with parent consent

GOP repeals long-standing environmental rules: business to take ‘Freedom’ hand

FL Gov raises private army: 150,000 “brownshirts”, answer only to DeSantos

GOP Clarence questions our right to counsel in criminal actions against us

Pence: “History holds Trump accountable” but ‘I won’t help jail him NOW’: 3^rd Rail?

Wealthy avoid tax we have to pay

How do all these wealthy people avoid the taxes we need to fund our military, legal system and the airports? They use them but don’t pay. They fly their private jets from the airports we pay for, the legal system they use more than us and all the military supports around the world as they visit their global homes and businesses. Our country taxes personal income not loans on $millions in assets. This means we pay for what they use and they don’t. We can’t afford to buy legal help to use special financial tricks to reduce taxes. We can’t afford owning sports teams or real estate or “hobbies” that show paper loses to deduct from our income. We can’t afford to buy the help of Congress people who change the rules on business income like Trump did in 2017. One critic said, "Wealth managers are bragging" about the effectiveness of their "tax dodging tricks." Even when they die, they can leave $ millions to their legacy using special rules to avoid the estate tax. This is how dynasties happen and the cycle of tax avoidance continues. Wealth perpetuates itself almost automatically.

Use your tax haven: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

?**********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

Trump still terrorizing election woman

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

January 6, 2021 “A date which will live in infamy”

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’

Mar 11 2023 Pence straddles his place in history

Jan 2025 Dictator pardons himself: his Supremes agree

How Govt wastes our money:

Money for new Moon Rover but not for hungry US kids: priorities?

Own your own bank: capitalism without risk: CEO changed law & keeps pay packet

Farm lobby seeks more subsidies: GOP to cut Food Stamps for poor: corn for gasoline?

Fed raises rates to increase joblessness 4.5%: my credit card already at mob rate: 29.99%

NY prosecutor cancels meeting: Trump gets away with crimes again?

SCAMS/SPINS:

Trump is inciting another overthrow of our gov: “TAKE OUR NATION BACK!”

Fake images of Trump arrest show how propaganda may tear US apart

Fox silences own producers from telling about falsehoods it broadcast about election win

Tesla recalls 362,000 of its Full Self-Driving (FSD) Beta software: causes crashes

238,000 Honda Civics probe: steering can stick, increase in effort, risk of a crash.

Hyundai and Kia 571,000 SUVs and minivans park outdoors: tow hitch harnesses fires

Ford recalls 1.5 million: fix leaky brake hoses and windshield wiper arms that can break.

Media influencers (not doctors) paid to hawk drugs on TikTok

Matt Damon, Tom Brady, Reese Witherspoon caught promo crypto: fees hidden: no jail

Toxic ‘food’ brominated vegetable oil, red dye 3, potassium bromate, propylparaben and titanium dioxide?

Grover Norquist conservatives stop free tax filing service we need: gives $500+ to Turbo

IRS finds worst scammers this year

Tax refund myths: IRS warning

Trial over fake Trump real estate tax deductions halted by bomb threat: mystery caller

Darryl Matthew Cohen caught steered money to self, fund his son’s basketball league.

Nick Palky caught stole $250,000 client’s account using forged checks to steal

Joe Harding GOP FL caught fraud $150,000 in Covid Relief scheme: no jail

Portfolio Recovery Associates caught illegal debt collection practices: fine no jail

CO allows gun-toting teen to show up at school every day: what think would happen?

How US succession happens in specific areas: schools, taxes, laws, red-line, clubs, sports

baseless-claim-that-jan-6-rioter-flipped-against-the-fbi-circulates-on-twitter

false-reports-claim-bill-gates-faces-premeditated-murder-charges-over-vaccines

Countertop composter Lomi does NOT make “nutrient-rich fertilizer.”

Arrest warrant for Putin: stealing kids from Ukraine homes: Seal Team 3?

Jobs

Construction industry faces a gap of roughly half a million workers; skilled trades too. Application rate jobs like plumber, electrician dropped by 49% between 2020 and 2022.

More than 550 slots for emergency medicine residents were left unfilled this year

White Americans feel left out; even they think they don’t belong. This is not good.

25 High-Paying In-Demand Jobs: salary & requirements

Tennessee plant aims to build 500,000 electric trucks

Who owns your account now?

DJ Equity REIT Index beats Total return S&P 500: stocks up in last decade

Medicare special plans to help with expenses and coverage: do you qualify?

Millions of people could lose Medicaid next month: check now

5% one year CD for temporary money: shop bankrate.com/banking/cds/cd-rates/

what-if-i-cant-pay-my-taxes: here are your options: it costs less to deal with the IRS itself

Miracles:

'Vibrant' Roman mosaic discovered under supermarket in Olney

Some ingredients crucial for the advent of life arrived aboard rocks from space years ago

Some young Americans are turning to friends to find romantic partners: not vid strangers

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

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.

Gold made from neutron stars: collisions produce more neutrons:79 protons,118 neutrons

The proton is so complicated science still finds new energy entities/forces every year.

“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 electron itself.

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

starts-with-a-bang/universe-expansion-not-accelerating/

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

http://www.theinsidersguides.com/

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

Friday, March 18, 2022

Guaranteed income for life at NO cost

Never bet against America

Warren Buffett: Never bet against America; nothing can stop this nation. The stock market is having a sale. Everything is reduced 13%-20%. In the past, almost every time the market was down, it came back up the next year:

2018 down -4.41% 2019 up 31.74%

2015 down 1.31 2016 up11.93

2011 down 2.07 2012 up 15.88

2008 down -37.22 2009 up 27.11

2005 down 4.79 2006 up 15.74

2002 down -22.27 2003 up 28.72

1994 down 1.19 1995 up 38.02

Unless you speculate, play the market, or time the market, you can put time and the Miracle of Compounding on your side. Over time, you earn 11% in a low-cost market index fund. And now you can make it tax-FREE for retirement.

You only have to be patient: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Some economists predict recession

What kind of portfolio is best during our current special circumstances of recession and inflation and worldwide supply disruption? There is no easy answer so our best position may be to stick with a balanced mix of equities and debt. Most of my readers are sticking with the low-cost funds tracked by Vanguard’s Target Date offerings. Some retirees are relying on the blend of Vanguard’s Wellesley Income Fund with 60% bonds. Relying on low-cost investments makes sense since they prefer to limit their costs during a period of uncertain investment gains or losses. Some more adventurous investors are sticking with the 10 choice funds they have relied on for 10-20 years. We call them the Vanguard Top Ten. They include Energy, Health as well as large and small caps at a reasonable cost.

Low-cost beats high-cost: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

What is the minimal amount needed to get an advisor’s help?

In 2018, we needed help in creating a financial plan. We needed to know whether we would have enough money to fulfill our goals in retirement. We still had a mortgage so we wanted to know if we could stop working. Did we need to keep working to pay off the house? We needed to know if we would have enough income to live after retirement and take a vacation. We needed to know if the assets we owned would provide enough income from the IRS’ required minimum distributions. Since we had to take our RMDs and pay taxes on that amount each year, would we have enough to live on? Could we take out more for special events like a new car, vacation and emergency medical procedures? We interviewed three advisors in the area. We were declined by each because we did not have assets worth over $1 million. Advisors usually take 1-1.5% of your assets. They need at least $10,000 a year to answer our questions. I asked one what she recommended to get help with a plan. Luckily she told me about a financial planner nearby. We met and provided reams of financial information to the planner. She completed a respected software program that made estimates of our income and expenses to age 95. It showed the probabilities of making our goals and income and expenses each year. It provided the answers we needed. Probabilities are not guarantees so we kept our assets working for growth and income so that we maintain a margin of error in case there is a long recession. We paid less than a $1,000 for a 50 page plan and 2 face to face meetings. We are happy not to have to pay an advisor for the next 30 years: $300,000 saved for more vacations.

Avoid the fees: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

Tax deductions you can take to lower taxes

These are ways to reduce income and thus tax without itemizing. The standard deduction was increased to $12,950 for single taxpayers and $25,900 for married couples filing jointly. Charity cash gifts up to $300. Contributions to IRA for each of you up to $6,000 $7,000 for ages over 50. Contributions to Health Savings Account but you have to use a high-deductible plan. Student loan interest. Educators for supplies. Alimony for some. Self-employed health insurance premiums. Other deductions available:

Child tax credit.

Child and dependent care tax credit. ...

American opportunity tax credit. ...

Lifetime learning credit. ...

Adoption credit. ...

Earned income tax credit. ...

Some readers don’t take the IRA retirement deduction now so they can avoid taxes on their retirement income in retirement. They use a Roth IRA—a tax-FREE account for working people. They create a ‘Wealth Reserve’ for life.

https://www.amazon.com/Your-Wealth-ReserveTM-Tax-FREE-Investment/dp/1484954882

Guaranteed income for life at NO cost

Annuities cost a lot. There are 5 to 8 fees charged by an insurer and their agent to guarantee your peace of mind income. Most annuities will provide a monthly income for your life and your spouse. For an extra fee or higher cost, they will provide a COLA cost of living increase so that your purchasing power is not decreased over time. This is important since inflation of 3% can rob you of HALF your purchase power in 20-25 years. There are better solutions for maintaining a guaranteed income. First, Social Security will increase your income based on inflation rates. In 2022, recipients have an increase of 5.9% in benefits. If you waited to age 70 to start SS benefits, you have a very good low-cost annuity with COLA for the rest of your life. Second, if you have an IRA, pension, or other tax-advantaged account, you will be forced to take withdrawals and pay the taxes due each year. For most of us, this means taking an annuity-type payment stream for the rest of our lives. Because the amount is recalculated each year, over time the amount stays ahead of inflation since our principal is still invested. Third, for some, this means heirs can continue the income payments until the principal is exhausted. If your IRA, pension or other account has been invested with a large mutual fund family like Vanguard, you are receiving payments correctly calculated free of extra charges.

Go low-cost annuity: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Have you taught your child how to make tax-FREE money?

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to use low-cost insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in retirement supplement. Now your child can build an account that provides tax-FREE retirement income too.

Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355

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

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

The Path to Dictatorship: 2010-2030

Trump/Tucker sorry Fox folks killed by Putin?

Trump: dictator is ‘genius’ bombing kids

How Govt wastes our money:

IOWA cancels teacher education training on race and equity

Congress sides with Big Pharma: we owe $195 billion medical debt: 90% has insurance?

IRS auditing poor to collect $100; let rich avoid $1 TRILLION taxes: we lose $1 Trillion

How Congress decides: Industry spent $3.7 billion as 3,700 new orgs join; Reps avoid us

TX judge temporary stop to state charging gender-care parents with child abuse: violates Title VII

We taxpayers support a agribusiness subsidy that helps Putin: Congress takes some for its own

Interest rate hike: do they really stop inflation this year? Car home loans now

Will Biden let Putin use limited nuclear in Ukraine? Is that the trigger that gets no-fly zone?

Biden offers new military aid to Ukraine Wed 3/16, including anti-armor and anti-air systems

Does Putin have a general who will stop him from starting WWIII like Trump’s general Milley?

Biden secret forces help destroy Putin’s forces: US helped Afghan fighters kill Russians before

SCAMS/SPINS:

TX GOP makes sure 10,000 votes not counted: voting machines have no power!

27 states considering 250 bills with restrictive provisions: TX already cut Dem ballots

Stacey Abrams voter turnout effort grows NC, Native Americans counter suppression

NC GOP calls Zelensky a ‘thug,’ Ukrainian government is ‘incredibly evil’

Putin requires all Russians watch Tucker of Fox for daily ‘truth’

Putin did not learn from Afghanistan, Vietnam, Hitler: guerillas fight forever

Women are going back to Ukraine to face Putin: brave women subverted Hitler too

Mario E. Rivero Jr. NJ caught stealing $680,000 promising higher gambling returns

Goldman Sachs caught: hedge funds loan cash to Russian firms’ debts: 100% profits

BMW recalling over 1 million vehicles for rare fire event

230 Hertz customers say they were falsely arrested: system glitch now your problem

Russia invasion disrupts supplies: food, fertilizer, neon gas, chips, etc

Zelensky “Remember Pearl Harbor” Biden: Putin is “war criminal” but still has yacht

How the sick folks mislead others: everyone wants to be noticed: 1 minute fame

Scammers watch list: potential or confirmed misconduct groups

Fake messages: what they look like: how to tell the real from the fake

Fake reviews: tips on how to spot a product review paid by the product

Celebs mislead or faked in scams for Keto and other weight loss claims

How money is driving democracy from our local gov: Shasta Co goes right

Car repair scams: estimated price of repair: get 3 bids on big jobs

Ford sells Explorers without all its chips: no heat no cool etc missing non lethal chips

Tesla, GM sell without chips too: no radio, charging,

Your next car comes with a virtual reality entertainment system. Walking dangerous!

Oil producers say it is not right to condemn them for gouging profits when they can

War machinery goes to double shifts: everyone is buying more killing machines from US

Most LAPD officers who break deadly force policy in shootings avoid serious discipline

OH open season shooting without permit, training: NRA backs Gov for more shootings

New variant in China doubles infected in 24 hours: keep masks available: 990,000 deaths

Better safe than sorry: 4 free tests at home https://www.covidtests.gov/

Jobs

Lawyers in Flint water poisoning get $180 million: Flint residents get peanuts

Tractors that plow all night: driverless Deere work with AI GPS no pedestrians

School jobs hit hard by pandemic/changes

Who owns your account now?

Your estate plan may need an update if new IRS rules begin this year

MGM movies to Amazon: Jeff can watch James Bond all day

Miracles:

American volunteers to assist Ukrainians despite risks: freedom important

A dog that was given up on and she’s changed so many people’s lives.

‘Drug factory’ implants successfully cure certain cancers in just 6 days!

Slow the aging process with habits and probiotics and phytonutrients

England pays to house Ukraine refugees who can stay for 3 years: 44,000 volunteer

101 year old surgeon going strong: 44 year old Tom Brady can’t sit still in stands

Convoy of volunteer Spanish taxi drivers with Ukrainians arrived in Madrid from Poland

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/

Friday, December 3, 2021

Why do investors “settle” for the ‘average’ (market index) returns?

Most advisors and brokers have used this statement to convince their clients to give them all their money to manage. Most investors don’t know that this is a trick question. They don’t know what the average annual index return is AND their sales person does not tell them that they will never earn more than the index return over time. Many advisors can show a year when they did better than the index but 95% can’t do better over time. Despite bad news, my market index fund is up 29%. Over time, the actual data shows managed funds earn 3.79% vs 11% for index funds. No sales person is going to tell you that the appliance they sell is cheaper at the discount store. Unfortunately, most folks don’t learn the facts about managing money in school. But this is actual index return since 1991. And using a low-cost fund, you can earn this return too:

2020 18.38

2019 31.74

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

1999 21.11

1998 28.73

1997 33.67

1996 23.06

1995 38.02

1994 1.19

1993 10.17

1992 7.60

1991 30.95

Over time, your "Average" return is 12.22 %. This beats most professional returns because fees and poor market trading costs 1-2% every year. Your advisor takes the fees off the top so you never actually see the bill for ‘managing’ your money. Annualized return after inflation (Real inflation-adjusted return) is 10.72 %. So your $250 a month would have grown to $1,049,991 not $664,555.

Pay less; Earn more: https://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

You don’t need an annuity—you already have one.

When your advisor offers a “guaranteed lifetime income” using an annuity, you need to get the facts about this option before you sign the contract. You can’t cancel an annuity once you sign because there are surrender charges—up to 12%—decreasing over time. You already have an annuity with your retirement money in an IRA or rollover IRA from your 401k or 403b money. The custodian of your IRA is required to distribute your account according to IRS rules called Required Minimum Distributions (RMDs) so you will have earned income which is taxable. You got tax-deferral with your retirement plan at work and now you must pay tax on the deferred earnings. These monthly or annual distributions are calculated using an IRS table that takes each year’s IRA balance and calculates a percentage each year you are alive. If you have set your IRA portfolio to keep growing, your RMD may be higher over time. Most annuities don’t do that—most offer fixed amounts that ignore the inflation bite. Within 20 years, that amount might have HALF the buying power for you.

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

How to guarantee a monthly income for a disabled adult child

When a reader asked me how to make sure their adult child could have an income for life guaranteed, I suggested an immediate annuity. The reader thought they could just leave their 401k to the adult child with the beneficiary designation. This is not a good idea. When a person inherits a 401k, the funds typically must be distributed in 10 years or lump-sum depending on the 401k plan. In either case this may result in an immediate tax liability for the beneficiary. Immediate annuities are low-cost contracts set up with an insurance company to pay a certain amount each month for life. This immediate annuity cannot be cashed in if someday their disabled adult child decides to spend the premium in one lump sum. A 40 year old female annuitant can receive over $600 a month for life for a premium of $200,000 today. This 75 year-old parent can pay more to have the amount keep pace with inflation. Another option is to buy a contract with a cash-refund provision in case of early death. Another option would be to buy another immediate annuity to boost the monthly income after inflation reduces the buying power in 10 years. A more expensive option would include making a formal trust either now or at death. The reader does not need an advisor to buy this low-fee annuity so the monthly benefit is more.

https://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223

Wealthy use bankruptcy for benefits and avoid responsibility

Bankruptcy was supposed to help people get back on their feet after a disaster not of their own making. It was termed a “fresh start” so that we do not have to spend our lives in debtor’s prison. Instead, it has become a way for the wealthy to take good assets out of the company they drove into the ground and leave those hurt with nothing. Bankruptcy has turned capitalism into a means of screwing us. Take the case of the Sacklers: their Oxy pills killed over 500,000 people and they take $10 BILLION from a bankrupt company and gain immunity from prosecution. Most states and victim families get $4.5 billion to split. Another example is the king of bankruptcy: Don Trump. Trump has filed Chapter 11 bankruptcy for his companies six times. Trump "put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses, and other payments.” Trump did not pay his bills and put many small businesses out of business. "The burden of his failures," according to the NY Times, "fell on investors and others who had bet on his business acumen." Bankruptcy is also a way to avoid paying taxes. Trump claimed company losses against his personal income for years. The wealthy have learned to turn the American system into Socialism for the Rich.

Privatize profits; socialize losses: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

Another reason NOT to pay an advisor: portfolio tricks

At a recent advisor conference, they were told, “Technology can make clients feel like they’re getting a customized portfolio experience, even though it’s standardized behind the scenes.” To make more money, panelists at the CFA Society of Philadelphia’s annual Private Wealth Management Conference said, “advisors are going to have to free up some capacity to accelerate their growth, and introducing some standardization into the investment process can help them do that.” Fidelity analyst: “One of the most the common things we see is that advisors have 100 clients with 100 different portfolios with about 300 different investments or security tickers. You got to ask yourself the question, how many investments can you keep track of as a fiduciary?” Another presenter said advisors should keep it to nine model portfolios. So your advisor is charging you 1-2% a year for a ‘tweaked’ standard model. An advisor’s presentation can “make the client feel it’s customized, but at the end of the day, it’s very systematic and structured in the background.” Now you can avoid the portfolio trick. Use the ultimate automatic robo.

Pay less; get more: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

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

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

The Path to Dictatorship

“The Coup is ongoing”

GOP voters pay Trump’s personal bills

Party of Lincoln deletes voting rights

GOP Supremes to delete women’s rights

How Govt wastes our money:

$ Billions building bases in Guam, Australia, Pacific: China wants Taiwan back

More aircraft carriers for Pacific at $13 billion each but wealthy avoid taxes

China, Russia attacking satellites with lasers, radio frequency jammers and cyber attacks