Another way the wealthy hide their assets

 

How much are you investing for your future?

Fidelity says: The total first-quarter savings rate — a combination of participant and employer — reached a record 14%, just short of Fidelity’s suggested 15% savings rate. The average salary is about $50,000. During our lifetime, we may earn $2.5-$3 million, depending on raises and years worked. If we invest just 6% ($3,000) in the low-cost stock market index of our 401k or IRA, we could have $2,100,000 for retirement in 40 years. If our employer matches our contribution or our spouse has a similar situation, we could have more. Given the historical rate of inflation, this amount would still allow us to spend retirement income of $45,000 (after inflation) for 30 years. We can now invest in a Tax-FREE account, approved by the IRS. About 78% of 401k plans offer this account. We could spend all $3,750 a month!

Spend Tax-Free Income: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

Actual retirement income $29,000 or less

Recent survey of retirees shows median income of just $29,000 before taxes in 2019, according to the 20th annual Transamerica Retirement Survey of Retirees. Median means half are below that amount: 27% reported an income of less than $25,000. Transamerica found that 46% of retiree households have nonmortgage debt, such as credit card, car loan, student loan or medical obligations. In addition, 23% of households have mortgage debt. Another study shows that 57% of retirees said they had less than $250,000 saved at retirement. This study had participants with incomes of $75,000. Amazingly, thirty-five percent hope to win the lottery, 25% are willing to sacrifice what they want today to save for later years and 25% plan to stay on their current path. Forty-four percent of retirees said their expenses are higher than they had expected, while just 8% said expenses are lower. Most of us will have to work longer than age 65.

https://www.amazon.com/Reset-Your-Retirement-Income-retirement/dp/1512304344

 

Best graduation gift you can give

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. We have used this 'Wealth Reserve' as I call it to have funds to use low-cost high-deductible insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive at least $2,933 a monthly in a retirement supplement for the rest of our lives. Get them started with VOO in a Tax-Free account at low-cost Vanguard. 

Start their ‘Wealth Reserve’: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

 

In a recession, follow Buffett’s advice

Warren Buffett has been through a few recessions since investing his paper route money. His advice is not to sell all and run for the hills. Page 6 of his letter to shareholders: “Investors who avoid high and unnecessary costs and simply sit for an extended period with a collection of large, conservatively-financed American businesses will almost certainly do well.” Unless you need your emergency money in the next year, just hold on to your low-cost portfolio of sound businesses and wait. As a group, American firms have provided annual earnings of about 11% since 1871. At 11% through boom and bust, steady investments of $250 a month can produce $1,000,000 in about 33 years. Stocks are cheaper during recessions to you have more; less when they are more expensive.

Don’t lose your head: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

 

In retirement, how much of your nest egg should you spend each month?

According to a new survey, a large share of near-retirees thinks they can safely withdraw 10% or more of their savings annually. This suggests that millions of people may be in for a shock. The average nest egg amount is only $172,000. Given this, a 10% withdrawal rate or $17,000 will end retirement income in 30 years with $3,500 in your final year. There are many factors that determine how much you will NEED in retirement but my readers say that they are spending MORE than they anticipated during their leisure years. Without a formal plan of estimating income and spending, you may be in for a difficult future. One thing each of my readers tells me is that they wish they had invested more aggressively early on. They were mislead by an advisor who did NOT try to match their age to their risk tolerance: stock funds early.  

Manage expectations: https://www.amazon.com/Your-Spending-Plan-insurance-investments/dp/1482723123

 

 

Another way the wealthy hide their assets

Property in Manhattan linked to now-sanctioned Russian billionaire Oleg Deripaska was held using a Delaware LLC. An LLC is a Limited Liability Company. It can be set up with very little information about the owners—another LLC or trust could be the ‘managing member’ on the registration. Financial secrecy in the US, which was called the most complicit country in helping individuals hide wealth this week by the Tax Justice Network, an advocacy group for tax fairness, is finally being challenged by some states. “People are shocked to learn about this loophole in the law that allows purchasers to go undetected,” said New York State Senator Brad Hoylman, a Democrat who sponsored a bill heading to the floor of the legislature. “Certainly, the focus on the international super-rich who have propped up the Putin regime has rekindled interest in the effort.” The invasion of Ukraine has raised concerns from London to New York about how anonymous shell companies complicate tax enforcement. One of the most well-known users of this technique is our former president. Assets and income are hidden in hundreds of LLCs so he pays almost nothing in taxes. His business dealings are kept secret through LLCs. Using shells, he claimed he personally ‘lost’ (on paper) almost a $ Billion, thus reducing his taxes for “almost two decades.”

Rich Avoid; We Pay: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Are “inflation-protection” securities right for you?
These funds are designed to protect investors from the eroding effect of inflation by investing primarily in securities that seek to provide a “real” return. The funds focus on investments in inflation-protected bonds that are backed by the full faith and credit of the federal government and whose principal is adjusted based on inflation. These funds have moderate to high interest rate risk, meaning that changes in interest rates, both up and down, can affect the fund by resulting in lower bond prices or an eventual decrease in income. Average annual returns have been 5% since 2000 but down 6% year to date. The bonds have 7 year duration so these bonds don’t protect you from changes in value. When interest rates rise, bonds lose value. However, over time you are protected from long periods of high inflation. Owning stocks are another way to protect yourself from inflation in the long run. Consider your time horizon and income needs before buying these fixed rate bonds.

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

 

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

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

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trumpist’s Supremes end personal rights except weapons

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

 

 

How Govt wastes our money:

GOP has wasted its anti-voting efforts: Dems ride the backlash by voting 3X more

 

2^nd Amendment right: body armor not guns for all: guard’s gun got him killed

Federal agents must intervene when they see other law enforcement using excessive force

21 kids teachers die for “freedom” to kill kids with assault guns: we’re crazy to allow it

 

America stops abortion (kill unborn) but allow children to kill children with assault guns

Young adults need the draft not guns: TX allows 18 yr olds to kill: no license; no training

4,357 children & teen gun deaths 2020

 

Subsidies to drug makers allow them to stop making necessary but less profitable drugs

 

Congress knew Abbott stopped making formula in February: Tax breaks not plant repair

Biden promises we will fight China for Taiwan: Dems new get tough stand?

 

senators shrug to 2nd monthly mass shootings and go on vacation: show them dead kids

 

SCAMS/SPINS:

Conservative Christians hide clergy sex abuse just like Catholics: Trump hides crimes too

Catholic tithes and donations mishandled by the Vatican just like US politicians & Trump

 

Trumpist Sen Perdue attacks Stacey: ‘demeaning her own race’: Perdue shows his racism

Trump’s ‘hang Mike Pence’ incitement may have gone too far for Americans: Threats

FL bans ‘social justice’ from social studies: only dream society can exist in FL

 

Getzville NY debt collectors caught using all the illegal tactics known: $2 mil fine, no jail

Surgery bills based on target profits not on actual costs: $303,709 not $1,337 promised

Long-term care policy costs rise: only 50% owners keep paying: some reduce benefits

Nationwide caught overcharging deferred-to-immediate-annuity exchange clients: fine

Michael Francis Shillin caught promising great returns on stocks never bought: fine jail

TradeZero caught stopped trading certain stocks: lied to investors: fine no jail

 

Formula scam: online/private sellers double price since shelves empty

Scammers ask for Zelle money and then your bank says, “It’s your fault.”

Seniors scammed: Congress to pay for investigations/enforcement: it’s about time

Woodland Behavioral Nursing NJ caught ignoring patient care: NJ names receiver

Recall 240,000 Hyundai Cars Explosive Seatbelt Parts: pyrotechnic-type pretensioners 

Abbott kept selling infected formula after found in plant: Abbott didn’t clean

Jif peanut butter recalled potential salmonella contamination

Improve memory with cranberries not unproven ground jellyfish in Prevagen

COVID-19 daily deaths are 305: 1,004,122:

Ukraine war as explained to working Russians: Putin controls the media: Tucker is star

Are you banned from Russia by Putin? Putin favors Trump, McConnell, Tucker

 

Jobs

Best colleges for the money: facts about your choice and your loans

Bank of America raises hourly minimum wage to $22

Apple to increase starting pay for U.S. workers to $22

 

JPMorgan Plans to Hire 1,300 More Advisors Over Next Three Years

Just 8% of Manhattan office workers were on-site five days a week loving home-work

 

Who owns your account now?

Funeral Consumers Alliance helps you plan a funeral you did not want to have to do.

Which BBQ grill is best for you? Consumer Reports tips.

"the average 35-year-old's student debt: 287% greater than value of their original loan"

 

When you disagree with the IRS, you have rights, at least on paper

 

Miracles:

SF Catholic church bans Pelosi for women choice but killed children in native schools

Tucker thanks Hunter Biden: help getting Tucker kid into college: anti Biden just politics

Brits want to try a new (OLD) sovereign: has Charles ever run or managed anything?

2 orders of fish and chips cost 23 Pds ($30) now: fish from Russia

 

Quick Easy test for Covid FREE: https://www.covid.gov/tests

Too easy: 2 year old orders 31 cheeseburgers on DoorDash for $91.58: Next new crib?

A new battery design could last for an entire 100 years:

World’s first double hand transplant for scleroderma

 

 

Police wait: Teen Kills 21 in 40 minutes: classroom door locked police out

US allows assault rifles with 30 rounds sold to children 18

 

Pakistan hits 120°F as climate trends drive spring heatwave: warming kills wheat

 

 

@

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

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

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

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

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

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

 

 

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

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

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

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

Is inflation really a threat to your money?

 

Is inflation really a threat to your money?

Current media spin is using inflation fear as a theme. Prices have risen because the economy is gaining strength after a pandemic shut down. Sure inflation exists. But it is a threat only if you are holding tons of bank CDs and bonds with low interest yields. Banks and bond issuers will have to bump up payouts to sell their new bonds so the old ones will be worth less. If you are holding a broad spectrum of stocks in a low-cost account, you will continue to enjoy the high earnings (stock market up 10% in ‘21). Do you really think Apple, Amazon, Google, Facebook, etc will stop growing and be defeated by 2% inflation? They will just raise prices to cover higher costs. For instance, Amazon has already increased revenue by raising the cost of selling my books. For most of us long-term investors, stocks are the safest investment strategy. Stocks will protect us from inflation since the average return of 11% is greater than the 3% inflation rate. Plus, since we invest in tax-free accounts, we earn an extra 25% by NOT paying income taxes on our withdrawals. 11%-3% = 8%. 8% is greater than 2% CDs/bonds.

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

 

 

Most of us regret not having emergency fund

We all have financial regrets—few high school students learn how to manage and grow their assets. There is a simple tax-free way to grow your emergency fund at better rates than a bank CD. Bank CDs are safe but you lose money to inflation over time. Saving for the unexpected means not cashing in your savings for a new Playstation. Opening a tax-free account for $1,000 with a low-cost target-date fund can provide $15,000 after only a few years of saving. You contribute $10,000 over time and you have $10,000 available when you need it. You pay no income tax, penalty or default interest. If you have no emergency, your money grows tax-free for years. Even if you add no more money to this fund, you could easily have $500,000 when you stop working. When you start saving early in your life, you use time to build wealth. You let the Miracle of Compounding work for you. You put in $10,000 and receive $500,000 tax FREE. You can not find a better investment plan than that. And there is money there when you need it. You have a Wealth Reserve for life.

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

 

 

GOP asks us working people to pay more

“Uncollected taxes equal the total taxes paid by the lower 90% of taxpayers.”

According to 5 IRS commissioners, the wealthy don’t pay their taxes. In fact, by not paying their fair share, we and our kids will end up paying for their $2 billion tax break. Those who don’t pay taxes increased their wealth by 55% this past year. Now the GOP complains about the deficit when asked to pay for the infrastructure bill which will create more jobs. Most corporations have had a fantastic year and keep more of their profits. In fact, most large American firms pay little or no taxes because they are able to claim their ‘home’ is in a foreign country where taxes are lower. For some companies like Amazon we pay for their refunds. Other corporations have paid Congress for sweet deals and are actually subsidized by our tax dollars despite big profits. Congress needs donations for elections so members don’t dare touch the tax laws. This is the American version of socialism: Socialism for the rich: the rich take the profits while we pay for the deficits created by gov tax breaks. Congress is full of millionaires. They make the laws. As Mitch says, Congress will “turn America into a socialist country." Already gives money to rich.

https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

Is this tax avoidance scheme right for you?

This strategy is called a syndicated conservation easement. It is a land deal that the IRS says is often an abusive tax shelter. Congress created this “incentive” in 1980 for owners who pledge to never develop their properties. Through a broker, you join other investors to buy large acres of land and promise never to develop it. You get a whopping tax deduction of as much as five times the amount invested. This is one of the tax avoidance schemes that Trump is being investigated for on his upstate NY property. He claimed he does not pay taxes because “I an smart” during the election. The IRS Commissioner Charles Rettig told a Senate panel last month that 28,000 taxpayers are under examination, some for similar land deductions. $21 billion in tax deductions are now being challenged. This tax avoidance strategy may be right for you since the rewards are much greater than the costs if your deduction is disallowed. Most investors never face jail and would have to pay tax later rather than now. Legal staff is available to help you avoid ever paying your taxes. With IRS’s current lack of enforcement staff, working Americans are more likely to pay the taxes you avoid than you are. Working Americans can avoid paying your taxes by using their own legal tax shelter.

Use the workers’ shelter: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Help your graduate avoid paying for tax cuts/subsidies for the rich

High school and college graduates need the best gift you can give them: a future of tax-FREE income. Get them started now since your gift can grow a THOUSAND times its value over time. For instance, $50 invested now can provide them with $20,000 when they need it later. Since you have started your grad off with this special IRS-approved tax shelter they will find it easier to keep saving/investing the right way. They will end up with a tax-FREE retirement. They can create a $500,000 tax-FREE account. Some young people have grown their accounts to over $1 million by investing $167 a month while they work. They will pay NO taxes on their wealth. They can avoid future tax increases. They can boost their savings by 30% just with the fed/state tax savings alone. And if they need a home down payment or business start up fund, they can use the contributions tax and penalty FREE.

Perfect gift: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

 

Lessons of investing great David Swensen

The legendary head of Yale endowment passed away this week. He changed ivy investing at many schools by developing a much wider asset mix to try to steady the flow of capital for scholarships and expenses. Over his tenure at Yale his asset picks returned 12.4% per year on average with dips during the trying years of 2008-09. What can we learn? During this period—1985 to 2020—the stock market index fund you owned earned 13.02%. The Vanguard’s equivalent earned 13% after 0.04% fees. Swensen invested new money in new types of assets. He relied on the Miracle of Compounding—reinvesting dividends and interest to match the S&P 500 index over a long time. His last 10 years grew $100 to just under $300. Our last 1, 5 and 10 years’ returns were also exceptional: over 13%. He was not a fast trader. His portfolio included many of the stars that are represented in the top global corporations of today.

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

 

How can you and your spouse agree on a spending plan in retirement?

Just like planning the family vacation, you both need to discuss your future money situation. If your spouse has a different vision of retirement, if you don't agree on financial issues or you avoid them completely, then conflicts are inevitable. Left unattended, these problems may become so serious that they threaten your relationship. Most of us have fights over money—usually spending habits and dishonest dealings. Actually 29% of divorced boomers said they ended their marriage due to disagreements about money. You have to discuss where all money comes from and goes in a detailed way. Exactly how much is being spent in a month by both of you is important to know. Buying secret lottery tickets or secret food/liquor stores is just the beginning. If you are not used to sharing this info, you will not be able to know how much to spend in retirement. Sure you both could agree to keep a certain amount for secret purchases, but you must be careful. You both must agree on the investing strategy in retirement. So when the market falls temporarily, you have a plan (emergency fund) to still keep spending on essentials. If you are subsidizing a child, you must agree on how much and for how long. Otherwise you both could end up running out of money too soon. Your discussion should include the cost of aging or healthcare changes. Do you have a reserve to cover those costs? Finally, make and update your wills, power of attorney, health care directives and final passing arrangements.

Make plans together to stay together: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

Can you withdraw 4% from your nest egg annually?

Financial advisors often fall back on this old rule as a guide to retirement income. This rule was created by William Bengen with data from the 80s when lifespans were shorter and advisors did not have computer software to provide a comprehensive retirement plan. Those assumptions are null and void. You can determine your rate of withdrawal based on your needs not your advisors’ guesswork. One of the assumptions that can throw off your expected retirement income is that your portfolio needs to be in fixed income—CDs, bonds and annuities. This has proved to be dangerous for you but a safe harbor for advisors. Advisors are not likely to be managing your money for the rest of your life. They can only guess what will happen in the next 1-3 year window. You are safer using the growth and income strategy that Warren Buffett recommends.

https://www.amazon.com/4-Retirement-Rule-Wrong-Lifestyle/dp/1492218960/

 

 

Is life insurance EVER a “great” investment?

“For some people, [permanent life insurance] can be a great investment” says one sales person. “Above all, life insurance is most compelling typically as an investment for high-net-worth individuals who are in a high tax bracket and are dealing with taxable accounts,” he adds. Finally, this sales person admits, “you already enjoy most of the tax benefits that are afforded cash-value life insurance.” You are better off buying and holding a non-dividend stock so you can avoid paying tax on your accumulations, just like permanent life insurance. Cash value life insurance is never a good investment. If you invest to grow your wealth, your wealth becomes your legacy more efficiently than expensive life insurance. Most of your premiums are going to the agent and the insurers’ profits.

Create your Reserves not the insurers’ Reserves: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

 

 

 

 

 

 

Last chance to reduce taxes due May 17

If you owe, you have one last chance to get a refund or reduce what you owe. Thanks to the deductibility of a traditional IRA contribution, you may cut yourself a break. Instead of owing the government, you could have a refund. The amount depends on your situation. By opening or adding to your traditional IRA contributions for 2020 not 2021, you give yourself a retroactive refund. Yes, the IRS will receive a contribution confirmation from your bank or mutual fund firm but at least you have one less bill this month. Even though every tax preparation company can get you an extension to file the paperwork, the tax itself must be paid by May 17. There are rules.

https://www.amazon.com/Your-Wealth-Reserve-Save-year/dp/107028288X

 

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.

Stimulus 3? https://www.irs.gov/coronavirus/third-economic-impact-payment

 

Tax returns for 2020 are due May 17 not April 15 but the estimated tax payments are still required on schedule. The IRS will redo your taxes and send a refund if you paid tax on Unemployment in 2020 or you paid ObamaCare’s excess advance premium tax credit repayment. 

 

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

If you have unemployment income, ObamaCare coverage you don’t have to make payments. 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. 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 return forms mean higher fees.

 

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.

More ways: https://www.irs.gov/newsroom/heres-how-people-can-pay-their-federal-taxes

 

IRS has $1.3 billion refunds for 2017 tax returns

Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 return, according to the IRS. “Time is quickly running out for these taxpayers. There’s only a three-year window to claim these refunds, and the window closes on May 17.” If they do not file a tax return within three years, the money becomes the property of the U.S. Treasury. Filing instructions are available on the IRS.gov Forms and Publications page or 800-829-3676.

You have 17 days to collect your cash!

 

 

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

 

 

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

 

One woman vs The Big Con

Then they came for me—and there was no one left to speak for me.

 

One person stood up to McCarthyism too

 

Are Christian Nationalists anti-democratic?

 

Crazy GOP: Jan 6 coup was “a normal tourist visit.”

 

First active-duty service member charged over the Capitol attack.

 

 

When ‘Truth and Reconciliation Commission’? 

 

 

How Govt wastes our money:

Hackers shut down pipeline to the East Coast: Let’s hire hackers--not pay $5 million! 

Banks to give credit cards to those without credit: we pay banks for defaults

 

 

SCAMS/SPINS:

McConnell leads GOP against any Dem plan for jobs, votes, bridges, etc, etc 100%

Biden will force unemployed to take jobs: GOP states attack own voters out of work

Trumpist judge reinforces evictions/foreclosures: 4 million must move

 

Trump runs GOP via Quislings: Fear of dictator’s wrath controls next election

Can old GOP be saved? Trumpists deny 2 party democracy: Americans voted him out

 

Healthcare sharing ministries Aliera Sharity caught misleading coverage; bills unpaid

TrumpCare policies leave patients with big bills; insurers with big profits; called junk ins

Kiwanis pays men sexually abused Centralia group home director staff other boys no jail

 

Trump may be taken down by his money man like Al Capone: NY meets Al Weisselberg

Lawyers take HALF sex abuse victim’s fund from Boy Scouts’ 95,000 claims

Hate/fear used by media manipulator for profits: profit in the hate/fear since we follow

 

10% plastic recyclable only: industry redirects us from their polluting environment

Was your iPhone hacked? 128 million folks data poached and Apple never told us

Aston Martin switches to making SUV to repay new owner: fashion mogul Stroll.

Mark Lisser Knightsbridge caught selling fake IPO shares $2 million

Matthew Clason CT caught stole $600,000 by inducing trust and using jt checking

 

“Gunfights at the OK Mall” FL: when everyone has a gun; we all can get killed! Wyatt?

 

 

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

SC goes back to firing squad to execute people: “more humane” lawyers say!

Business buys vax for employees: back to work and more productive/profitable

Employers who pay for your college education: a life saver for some

 

Fast growing companies may help your career grow too

 

Who owns your account now?

Some insurers are paying claims electronically: no more waiting for check to fix it

Car brands your mechanic loves: Paying $1200 a year in car maintenance?

Brexit sending business from London to EU: London headquarters to Paris, Milan

 

Advisors earn $170,000 a year from you: paying 1-2% a year erodes nest egg by 63%

 

Miracles:

Why men fear the needle and don’t want vax protection for us

Miracle: 3 “old boys” with guns chase Black and kill him: blame Black’s past now

1 million more Americans have health care: Biden opens the way for coverage for all

 

Normal life is OK w/shots except where local law/rules require controls says CDC

 

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/

 

How is your 401k?

How is your 401k?

Fidelity published the average balance by age. Each of us is at different financial stages so averages don’t mean much. Most of us have SS benefits to add to our total. The average benefit today is $1,342 a month which will increase by a COLA if Congress passes an increase each year. The average monthly income that could be produced from the balance for a 65 year old ($200,000) is about $700 a month in today’s purchasing power. Unless we plan on receiving a pension of sorts or working longer, $2,000 a month from each spouse may not be enough. Plus, we all know that you can never have too much. We need to consider how we can improve our situation with tax-FREE savings. This parking lot attendant did it by following his Mom’s advice.

Now we can create tax-FREE income: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Why are wages the same as in 1985?

Inflation over the last 40 years has left most of us with the same Buying Power as of 1985 down from 1968. What happened? Automation and technology have left many jobs on the ‘shop floor.’ In 1985, as manager of about 40 people, I oversaw the computerization project of our entire process. My 4 assistants could make decisions immediately from weekly reports that told us what was happening (and wasn’t). Within 10 years, every change or entry made by now 20 staff since those in the field entered data once on a network computer and not reentered by my office staff. In my next job, I got the suppliers of our products to make the data entry. They streamlined the process so there were no more paper copies of customer contracts to be signed or filed. In my next job, most of the data entry was by the customer and by scanning bar codes. I no longer had a receptionist/secretary. I could run meetings and consult with direct reports by phone anytime day (or night, in a pinch). Meanwhile, my salary and bonus were doubled and my boss’ quadrupled. Today CEOs have compensation 500 times that of line workers—up 1,279%. The value we created per person using machines provided gains for senior execs and stockholders. Buying Power wages have not changed. We work 2 jobs.

I use an IRS-OK tax-shelter to keep more: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

Can we afford NOT to have Medicare for All?

The rate of bankruptcy has increased 204% since 1991 often because of health care costs. This 87 year old is going to be in the truck next to you in order to pay his wife’s medical bills. Is this what we want to do in retirement? There is enough money in America to pay for health care! It’s just sitting in the accounts of the top 10% fellow Americans trying to pay as little tax as possible. For instance, some of the Billionaires are paying only 17% total tax—about HALF the amount of the middle-class worker. Mitt Romney and John Kerry paid less than 15%. Most of the highest net worth Americans are paying a fortune to lawyers to reduce the amount they pay every year—using legal and illegal means. The IRS just gave the wealthy with money overseas a discount on their taxes if they declare with the Offshore Voluntary Disclosure Program. Trump and the GOP have proposed letting the wealthy delay paying the RMD tax. They allowed “junk” insurance to be sold which is cheap because it does not cover all expenses. The GOP continues to pay socialized supports to the oil gas agriculture and mining industries. So America can afford it if we chose: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584

How can you avoid SCAMS in financial services?

Wall Street is a ‘war’ zone! We must enter this war zone with the protection of knowledge. We could lose all our lifelong savings in one trade. Brokers and advisors have weapons that can 'kill' us financially. They are hidden behind lies, exaggerations, obfuscations and straight-out fraud like faking our signature. Half-truths and our assumptions and greed are also at play. These are our 'soft' underbelly targets. There are warning signs but most SCAM situations require us to be knowledgeable and to check every move. My first day as a manager at a security firm I was told: ‘brokers are [car] salesman.’ Our future life is at stake and yet we give strangers our money so easily.

Take Buffett’s advice: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender-ebook/dp/B07GZ1WSP1/

Wealthy take a dive into CLO again: mortgage loan disaster taught us nothing!

The superrich pouring $ millions into collateralized loan obligation. CLOs means possible bank failure again. They are after the possible double-digit returns. But dissenters have raised questions about whether the frenetic pace of sales is spurring reckless behavior just as the prospect of an economic downturn looms over an increasingly leveraged corporate America. Yes, history could repeat itself when you transform riskier company loans into bonds of varying risk and reward and then promote them with “every smart rich person owns them.” One promoter says “you only have issues if … you have losses.” Yes! These sub-investment-grade rating loans are mixed with equity so they may pay better if you wait. Returns on CLO equity can range from 12% to a remarkable 20%, standing out in credit markets where corporate bonds have delivered little or negative returns this year. Banks think they understand the risks just like last time. Remember we taxpayers had to bail them out—even foreign banks—and that makes bankers ‘adventure’ capitalists for FEES.

Protect your investments in a tax-FREE trust: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

We are paying an extra $14 billion a year in broker fees thanks to Trump

New report compares the fees we pay under Obama’s vs Trump’s fiduciary rules. The report examines the stock prices of 36 publicly traded brokerage, mutual fund and life insurance companies, finding they lost a total $14 billion in value as a direct result of the Obama fiduciary rule. It mandated that sellers offer the ‘best’ product to retirement account clients. “The profitability and value of investment firms is reduced by the inability to collect conflict-of-interest fees." In other words, firms did not receive $14 B in fees from us on our money during the Obama period. Obama saved us about $17 billions a year. This was mainly annuity commissions which are definitely NOT products in your BEST interest but in the firm’s best interest. Firms have plenty of costs that must be passed on to us one way or another. 

Avoid their fees: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Will you owe tax penalty in 2019?

Trump’s new law is effective in 2018. If your property tax or state income tax is over $10,000, you are going to owe more because you can’t deduct these taxes anymore. If you are used to deducting employee expenses and 9 others, you may also owe. The IRS notice 182 says you may have a penalty if you owe more than $1,000 next April. Individuals, including sole proprietors, partners and S corporation shareholders, may need to pay quarterly installments of estimated tax unless you owe less than $1,000 when you file your tax return or you had no tax liability in the prior year. Other taxpayers who may need to make estimated payments include someone who:

• has more than one job but doesn’t have each employer withhold taxes.
• is self-employed.
• is an independent contractor.
• is a representative of a direct-sales or in-home-sales company.
• participates in sharing economy activities where they are not working as employees.

Make estimated payment by Sept 17 with Form 1040-ES page 11.

Start your tax shelter now: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Insurers want to put annuities into 401k for more fees

Pro: They argue that annuities are the “only savings vehicle that carry a guaranteed, contracted, lifetime income stream, outside of Social Security and pension benefits.” Con: 401k accounts already delay taxes on the gains. Annuities costs are high compared to the alternative—IRA which also delays taxes. The IRS already mandates a lifetime income stream. It is called an RMD calculated by your IRA trustee who doesn’t charge for this service. IRAs are protected from creditors like annuities. The guaranteed benefit misses the point of having income for life. The income is usually cut in half because of inflation. You may begin with $1,000 a month at age 65 but it will buy HALF the goods you need by age 85. 401k accounts are run by your employer meeting certain fiduciary standards. Annuities are not. To guarantee a lifetime income stream is a process best left to an experienced planner over time so you can make adjustments to your investment mix as needed. Annuities protect insurers not you.

Don’t give up 3% annuity fees: https://www.amazon.com/NO-Cost-Annuity-Years-Income/dp/1508487308

Where is your increased income?

Census says: Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans. The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less. But the nerds say median income last year was not statistically different from 1999 or 2007. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars. Here is the rub: “The extra pay from having another person in the home working is the largest factor contributing to the increase in income.” Our wages did not go up! We are just working more hours. Americans living in official poverty stayed at over 12%. Remember, earned income is the Gross number not cash in pocket. Our health care costs went up. Fewer people can afford a house or rent because property costs have ballooned. Young people with school loans went back home since they can’t afford the basics of family life. And the worst is yet to come: Who will pay for the $1.3 Trillion deficit this year? Not the wealthy! Most of the tax breaks mean they will pay less in the future: $21.3 Trillion.

Avoid their taxes legally: https://www.amazon.com/Pay-No-Taxes-in-Retirement-legally/dp/1507527977

****************

Make America, “The Don”, Great Again

Senile Psychosis

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

Trump keeps 177,000 troupes in Syria, Afganistan, Korea, Germany, etc etc. $700+ B.

Trump follows Putin lead to raise retirement age—‘Save’ SS by cutting benefits-old song

Trump EPA to allow more methane to heat up the atmosphere for more hurricanes/floods.

Trump subpoenas every NC voters’ records--20 million to stop votes for Dems. NC: NO!

GOP still not reform flood insurance: Florence hits east coast. Trump to help whites more

SCAMS/SPINS:

Don’t fall asleep in class: Student got tasered for falling asleep in class in Smithville OH

Drug companies say hospitals jack up prices of drugs in hospital 500%. Hospitals say …

Paltrow ordered to stop making false claims for her Goop stuff.

GM recalling 1 million trucks/SUV for power steering faults.

MyPillow told to stop making false claims for his stuff. Fine $1 million; still false claims.

Neurolumen sued for false claim on PTSD, MS, fibromyalgia pain.

Stream’s deceptive marketing of business opportunities attacked as false.

Doctors give out opioids like candy— no diagnosis no reason—except drug firm money!

How is 2,975 dead in Puerto Rico an "incredible unsung success"? Trump takes $10 mil.

SII caught failing to supervise sales of high fee illiquid real estate investment trusts. 

Barry Honig & others caught in microcap “pump-and-dump” schemes taking $27 million

Edward Daniel lost license after 41 years: unsuitable investments 2011 and 2015.

BB&T caught hiding wrap fees--overcharging clients $635,535; not disclosing conflicts

Cadaret Grant Co caught selling leveraged oil-linked exchange traded note & annuities

Luke Eddy MA caught impersonating client and forging her signature.

Market timing is back in vogue: Stock sellers like August trading for a change.

Emil Botvinnik Jovannie Aquino caught trading $3.6 mil client loss --$4.6 mil fees.

Citi caught overcharging retirement plan and charitable organization customers.

Timothy Ayre MA caught selling HempCoin an unregistered cryptocurrency security.

GPB Capital Holdings illiquid private placements investigation by MA: 4,000 at risk.

FUTURE INCOME PAYMENTS sued for claim “not a loan” when are loans hi interest

Jeffery J Kelly caught failure give docs re: unethical behavior so barred from industry

Insulin prices doubled to pay for CEOs $ millions pay packet

Health care scams double: low-cost Trump plans offered—premiums buy no coverage.

SS scam: fake SS official asks for info or tells you to send gift card to reopen account

TX cop kills neighbor in home—I thought I was home. Door Keys? Wrong Floor?

When we all have guns for ‘protection,’ who will police shoot first? Safe in your home?

               police shoot owner who already shot intruder. Kids will have plastic killer guns?

Jobs:

Prepare for a good job: 25 jobs trending to $100,000 plus

Health care hires thousands per week as more in Medicare plus new procedures

Work at home scam or real gig? 10 jobs to try for experience and money.

Ford cancels production move from China to US: no profits on Focus built here.

Poll: 2/3 people think automation will eliminate jobs for ordinary folks soon.  

How many more decorated national security officials alienated by Trump?

Who owns your account now?

Ohio National stops selling annuities: "It's a declining market," expert says.

Home or Rent: A challenge and the duplex solution.

Retirement accounts target of cyber crime: protect your account.

ACA in WV provided health account for 189,000 uninsured: don’t know its ObamaCare

Miracle:

Ruby slippers located in FBI sting: $1 million insurance finder’s fee.

Uninsured for health falls again from 48.6 million to 28.3 million Americans

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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