How to deal with the stock market fall

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How to deal with the stock market fall

In every time period, low-cost funds beat high-cost funds, unbiased analyst Morningstar showed. The unbiased financial scorekeeper, Dalbar, has found that the average advisor-managed returns were 3.79% compared with the S&P 500 index of 11.06%. If inflation runs at 5%, your real returns are under ZERO. Few advisors can beat a low-cost stock index simply because of the costs. Warren Buffett bet $1 million that the Vanguard’s 500 Index fund would beat the returns of a stock picking guru and 5 hedge funds. He won. He also designated Vanguard low-cost index funds in his will for his heirs. Advisor managed funds underperformed indexes nearly 93% of the time. Over time, advisor fees, charges, trading and bad decisions will lower your total accumulations by 63% or more.

Buffett’s advice: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

 

How to start investing with $250 or less

If you are paying off student loans and trying to get your career going, you don’t have a lot of money to invest. If you are lucky enough to start a 401k or 403b at work, you can have the money taken out of your check so you don’t even get to spend it first. Some employer plans allow you to invest in a tax-deferred or tax-FREE account. However, if your employer does not offer these perks, you can start investing with just $250. After opening an IRA or Roth IRA at Vanguard, you can use their commission-free brokerage account to buy an ETF share. These are stock market index funds packaged like a stock. So one share of the total stock market index fund (VTI) costs under $250 due to the current sale (market down). Another strategy is to use your tax refund (average $3,000) to buy the low-cost 500 Index Fund so you can automatically invest $200 a month from your checking account. After 35 years, your $1 million is tax-FREE.

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

 

Hope you did NOT buy crypto recently

Investors are fleeing riskier assets from tech stocks to cryptocurrencies. If you are investing for your retirement, I hope you did not put your money into ‘Bits’ and lose HALF your money. Tech stocks are the market driver and will be with us for the future. However, it is hard to pick the future winners. What to do? ‘Buy them all,’ John Bogle used to say. A low-cost index will help you get through this period since there will always be corrections and you just have to wait, as Warren Buffett advises. You can put your investing on full-time automatic and not have to decide when to sell or reduce your stock or bond complement. You can use a Target Retirement Fund like the Vanguard Target Retirement 2065 Fund (VLXVX). You can tell the trustee of your Roth IRA account to debit a monthly amount from your bank account. As you grow your investments tax-FREE, your trustee will move more of your money into the bond index inside your Fund. By the time you retire, you will have earned more than an advisor-managed account with less risk and all your earnings will be available tax-FREE.

Use the Best: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Supremes caution employers about high annuity costs

The court said federal courts should look at more than a 403(b) retirement plan’s flexibility and investment menu size when deciding whether the administrators have met the Employee Retirement Income Security Act standard for the duty of prudence. Plan administrators must be concerned with costs as fiduciaries. They can’t simply offer participants’ preferred options and wave off concerns about the other options. This institution’s employees accused the fiduciaries of acting in an imprudent manner by offering plans with high record-keeping costs; retail mutual fund and variable annuity share classes with high, retail-level fees; and, in the beginning, an investment option menu that was too long and could have led to poor participant investment choices. The employees cited the withdrawal penalties and restrictions built in to a fixed annuity on the menu were too high. Lower courts (siding with the administration) were criticized for overlooking ERISA’s core purpose, which is to protect plan participants from an administrator’s failure to perform its fiduciary duties. TIAA, the annuity provider, claimed the extra costs are justified. The Supremes said institutions must remove “all imprudent investments.” Employees have lower-cost options.

https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

 

Do seniors really need life insurance?

What is life insurance for? What do you expect life insurance to do for you? Why is life insurance so expensive? These are the questions I get from retirees or pre-retirees. The answer is really very individual and specific. Life insurance benefits are there to protect others against unexpected loss. But retirees know they are going to die and can prepare for that possible loss to their families. Life insurance typically protects against UNEXPECTED loss—when we are young and raising children and supporting a family. By the time we retire, most of us are not supporting a family with a weekly wage. If we are buying life insurance in retirement it is very expensive. Senior Life is typically issued without any tests. Thus if you are in good health, you are paying for all those who are not in good health. And life insurance is NOT a good investment. These are the typical rates for adults: Male age 71 pays $26.77 for $5,000 death benefit. $321.24 a year for 15 years (your life expectancy) costs $4,818.60. If invested, your $321.24 a month is worth $10,866. So depending on your health, don’t waste money on ‘death’ insurance.

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

 

Excessive fees—savers giving up 63% of potential nest egg

Saving for any goal—retirement, home, education—is difficult enough but the saving/investing industry depends on overcharging for all its services. The wealthy owners do it because they can: “Many financial institutions obscure the true price of their services by luring customers with enticing offers and then charging excessive junk fees.” Regulators of financial services are run by and paid for by the industry itself. There is little incentive to give honest service at a reasonable price. “Over a 50-year investing lifetime, that little 2 percent fee will erode 63 percent of what you would have had. As John Bogle, founder of Vanguard Group, puts it, ‘the tyranny of compounding costs’ is overwhelming.” Low-cost passive investing funds have become the norm. With a little shopping around, we could pay 0.04% instead of 2.00% a year for quality money management. Instead of having $ 740,961 for retirement after 35 years of investing $250 a month we could have $1,243,368. And using a special IRS account, it could all be tax-FREE. Contribute $105,000; spend $1.2 million.

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

 

Excessive health care costs: “high-cost, ineffective care”

What’s wrong? Two patients can get the same procedure and pay wildly different prices, according to a new study. “The same patient with the same insurance plan could go to another hospital five miles away and again see a significant change in what they owe.” "Perverse incentives": Why the healthcare market is motivated to provide high-cost, ineffective care. Profits rise when higher dollar claims increased—patient health is not measured. More profit from $4,007 claim for an ICU room vs $3,481 for another plan’s claim. This $526 difference goes straight to the bottom line. The Hospital Price Transparency Rule was supposed to reduce price by competition with transparency. However, this has not happened. Most patents never see the price list for their procedure. Most people just do what the medical “gods” tell them to do. For example, my doctor prescribed Januvia for type 2 diabetes but it cost $500 ($149 plan) for 30 days. I did my research for a low-cost substitute and asked her to prescribe glipizide instead. It cost $56 retail ($12 with my plan). Januvia generated $5.9 billion in sales last year. The low-cost treatment was effective in lowering my A1C. I do better with low cost financial services.

High cost is ‘ineffective care’ of your wallet: https://www.amazon.com/Pay-less-Get-more-investment/dp/1500598321

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

 

Another terrorist goes to prison

 

Trump’s plan: Pentagon to seize voting machines

 

3 states: ‘brown shirts’ hunt voter ‘fraud’

 

Republicans in multiple states created forged election materials

 

 

UN-United States; 2 Americas

 

 

How Govt wastes our money:

Texas AG Paxton hiding his part in Jan 6 coup in DC: local DA enforces the law?

Giuliani's communications as a foreign agent considered for prosecution

Wealthy need not fear tax collector: IRS gave up on $1Trillion unpaid taxes: 0.6% audit

 

We have military people in uniform inside Ukraine: “training”: how Vietnam began

Each state competes to give our tax money to companies who ask for socialist gov bump

 

SCAMS/SPINS:

TX judge cancels gov worker vaxx mandate: GOP out to kill as many as possible 900K

VA parent threatens school with guns if require mask to protect all school kids/teachers

“March for Life” ends with March for Death: no choice for abortion; Vaxx gives Life

 

Few employers plan to drop vaccine mandate despite Supreme’s ruling against mandate

RFKjr wife disavows his claim that Covid mandate is worse than Holocaust victim’s death

 

Alex Jones refuses answer re Jan 6 failed coup: refuse on “ground it may incriminate me”

 

How autopilot cars go out of control and kill people: TV advert is not how AI works

Your cruise ship is about to be seized for fuel bill so captain avoids US: how to get home

We are easily mislead by selfish people: Tucker supports Putin’s position: has 4 kids here

 

Bogus cryptocurrency investments social media: send money for promised huge returns

German Nino caught stealing $5.8 million: fake transfers, fake returns, fake statements

Scammers love tax time: IRS sends letter not call; no offers for “pennies-on-the-dollar”

 

Students question our society banning books: preferred by dictators gov banning history  

 

CA town requires you have insurance when you own a gun: like car liability insurance

30 high-power gunshots coming from separate apartment complex kill loved one: 0 arrest

WI GOP to lower concealed-carry age to 18: all students can ‘pack’ at school: easier kill

 

Our future Senators have already been selected with cash from wealthy donors

GOP with help from DINO deny Biden’s Supreme replacement like RBG’s replacement?

Manchin now funded by GOP donors: “follow the money”: Dem in name only

 

Trump threatened GA to change voter count: illegal for president to change our votes

 

Jobs

Immigrant entrepreneurs and foreign genius workers are going where they are welcome

Google is training 100,000 Americans for vital jobs in data privacy and security.

GM retooling for EV in MI: 4,000 jobs build EV and the batteries

 

Who owns your account now?

Simple business pension plans: contribute up to $61,000 tax-deferred

Robo Advisor put out of business by UBS advisors: you pay more

These companies sell your data: you can make sure your credit history is correct

 

Mel Trump did not sell hat for $250,000: start “go fund me” account for new hat?

Average credit card debt: $5,525, down 14% in pandemic: where do you stand?

 

Miracles:

$15 hourly wage for 70,000 Fed employees: can you live on $510 net a week?

73-year-old woman lured her scammer to her home and had him arrested: one less threat

Second year in a row that Greece has experienced a freak snowstorm: new climate zones

 

Still claim your 2021 credit on tax return: Parents of children born in 2021, guardians

Kansas City Chiefs fans donate $178,000 to New York children's hospital after win

Regrow limbs with special chem mix Next “regenerative medicine."

 

Some student loans have been erased: get a letter after years of asking: Biden does it

 

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/

  

This is why you can’t afford to ignore fees

 

This is why you can’t afford to ignore fees

When returns on investments are low, paying your advisors fees can kill your account growth. If your investments are earning 6% but your fees, commissions and expense ratios total 2%, your account will grow HALF as much as it could have over time. Example: You invest $250 a month for 35 years with costs of 2% per year. You end up with only $229,194. If your 6% a year on average only cost you 0.07%, you would end up with $352,216. That is $123,022 more—HALF again than with advisor fees. You can always hire an advisor when you have a problem. Your advisor pockets the $123,022. Most of us are correct in assuming advisors are a luxury item. We can’t afford to give away that much of our nest egg. Plus it could be tax-FREE.

https://www.amazon.com/You-Can-Afford-Retirement-TAX-FREE/dp/1517738253

 

Is your employer’s 401k right for you?

There are situations where you are better off NOT using your employer’s pension plan. Your employer may have picked the wrong fund options or they do not match your contributions. If the only options are expensive funds and there are many extra plan expenses, you can gain the same tax advantage with lower costs elsewhere. Your total accumulations will be greater. If there is no match, there is no advantage to using a 401k or 403b. In fact, some types of employer plans may end up losing your money. Single-employer pension plans are better protected than multiemployer plans by using available pension insurance. Use Brightscope to assess your plan. If you are paying more than 0.15% total costs (fees, charges, expense ratio, bookkeeping, annual statement fee, etc) and you do not receive a match to your contribution, you will be worse off in retirement. A Target Date fund may be the right choice. And you can avoid retirement income taxes too by using a special IRS account available at the largest fund firms.

Consider the better options: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

 Is a robo right for you?

A robo-adviser is a computer algorithm that invests your money based on your answers to a few questions, such as when you need the money, your tolerance for risk and how much you have to invest. You pay for the website process and you pay for the funds the robo puts your money into. So you must decide your risk tolerance (how much market volatility you want) and when you need the money (when you will retire or buy your dream vacation). You must also decide how much to invest even though this is one of the hardest decisions to make. You can pay extra for “tax-loss harvesting” although mutual funds pass on gains and losses every year without much control over your taxes. You can pay up to 1% a year for a robo account.  An easier alternative is a Target Date fund which does the same things for 0.14%. Save yourself $ thousands over time.

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

 

Another way the wealthy avoid paying their fair share

Trump caught inflating value of his woods: tax avoidance of $21 million. Did you obtain a tax break when you bought your home simply by claiming you would not build in your back yard? No of course you didn’t. The wealthy use these kinds of tricks and politicians don’t fight it. Usually because the wealthy help the pols get what they want too and nobody goes to jail. First, you have your company buy the property. Then you hire an appraiser who makes a report that IF a new owner were to develop the land, it would be worth double current values. The appraiser who also does deals with you makes up “unsupported assertions and misleading conclusions that boost the value of [your] charitable gift — and [your] tax break.” Another example is the private museum of Peter Brant in CT. Operated by a nonprofit charitable foundation created and controlled by Mr. Brant, this cozy museum with old bicycles is tax-exempt. Wealthy collectors save $ millions in federal taxes by donating art and money to museums and foundations. But for Mr. Brant’s center and a growing number of private tax-exempt exhibition spaces like it is that their founders can deduct the full market value of any art, cash and stocks they donate, even when the museums are just a quick stroll from their living rooms. The museum is not open to the public however. So you could set up a museum of your old baseball cards in your shed but the lawyer set up will cost you. Or you could just use your legal tax shelter which costs nothing to establish.

Start now: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Why is compounding the key to your investing success?

Warren Buffett credits compounding as key to his success in accumulating over $80 billions. “My wealth has come from a combination of living in America, some lucky genes, and compound interest.” Without compounding Buffett’s securities could not propel his assets to that level. We can only achieve our long-term goals by using compounding. Compound interest of 1% at a bank provides $125,762 after investing $250 a month for 35 years. Since inflation runs about 3%, we are losing money! Only compounding securities’ dividends/interests can we accumulate $1,243,368 in 35 years. Since we don’t have Buffett’s genes, buying a low-cost stock index fund is our best and easiest way to take advantage of compounding.

Use Buffett’s strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

 

Is “professional” money management right for you?

Investors are questioning whether the promises of the large Wall Street firms are really fulfilled. You may remember when Yale Endowment’s use of ‘alternatives’ was the answer to every investor’s dream of “beating” market returns. Well, guess what? It was a myth. Studies have concluded: “…we find no evidence that the average endowment is able to deliver alpha (market beating returns) relative to public stock/bond benchmarks.” Another study found, “little positive evidence supports the conclusion that private equity as an asset class is able to deliver alpha.” But ultimately, they concluded, “We do not resolve the question of whether private equity and hedge funds deliver alpha.” As to other sources of alpha they flatly stated, “We find no evidence that manager selection, market timing, and tactical asset allocation generate alpha.” Even without taxes, “Non-profit endowments badly underperform market benchmarks, with median annual returns 4.46 percentage points below a 60-40 mix of U.S. equity and Treasury bond indexes, and statistically significant alphas of -1.10% per year.” In English, that means “professional” money management is not worth the $ thousands we are paying over our investing lifetime. The fees are subtracted from our account whether there is a gain or loss.

Compare Vanguard’s low-cost lineup: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

 

Is it ever time to buy a new car?

What is the difference between a new car and a slightly used version? You must consider that the luxury cars have dependability problems so they lose over 40% value in the first to third year of ownership. Manufacturers use owners for a FREE testers—some of us must return these expensive babies over and over to work out the kinks. If you don’t want to be their guinea pig, look to the used market to save on value. For example: BMW 7. Average new price, $109,231. One-year depreciation, 43.4 percent. Average year-old price, $61,784. Audi A6: Average new price $63,931, One-year depreciation, 41 percent. Average year-old price, $26,199. Jaguar XE: Average new price, $50,371. One-year depreciation, 40.9 percent. Average year-old price, $29,786. Compare Honda Civic hatchback: Average new price, $25,390. One-year depreciation, 11.9 percent. Expected average year-old price, $22,686. If you are still not convinced, price the Porsche SUV (contradiction in terms?) at $127,800 for the Cayenne Turbo. The used 2020 SUV is a ‘bargain’ at $106,000.

Buy right insurance for it: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

 

Most of us have no idea how much money we need

An overwhelming majority of us are heading into retirement without any idea of how much money we will need. New survey: 71% of adults within 20 years of retirement have not run a projection on how long their savings will last based on their life expectancy. Moreover, 53% of that group said they expect to retire with less than $100,000 in savings. But averages don’t mean a lot. We now have tools to help us get a better idea of our retirement spending levels without paying a planner to make a big printout. We can estimate how our savings/investments will grow over time and then how long they will last. Combine that with the Social Security benefits estimate using current earnings (https://www.ssa.gov/OACT/quickcalc/) and we will have a rough guess of our retirement income. If we do it now we still have time to fix it.

https://www.amazon.com/You-Can-Afford-Retirement-FEE-FREE/dp/1517738253

 

 

You could save $3,000 a year on financials

Our financial industry Insiders show you the "tricks of the trade" so you save up to $3,000 every year on banking, mortgage, education, mutual funds, securities, annuity, insurance-life, health, disability, long term care, vehicle, homeowner's, lawsuit--vehicle purchase, estate legacy, wealth transfer, retirement spending . . . almost any service. You buy the best financial services and avoid high fees and commissions. Your savings builds your Wealth Reserve over time. You buy where we Insiders buy! Our Insider's Guides help you find the savings so you can build your Wealth Reserve to protect your lifestyle, now, and into the 21st Century. Your Unbiased Advisor: "Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime." Our Insiders show you how to SAVE $3,000 every year by buying your financial services DIRECTLY--using Insider's Guides for each financial product/service.

https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

 

 

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

 

Like 1776, this period is a test of democracy—do we really want a Dictator?

 

Supremes decide election … again? “Follow the money”

 

Dictator affirms Qnon ‘domestic terror’ threat

Dictator: I order Barr to indict Biden over the Russia ‘hoax’

Dictator: I blame veterans’ families, not ‘consort’ Hope

Dictator: “I’m immune” “I’ll kiss everybody” killed H Caine

Dictator: “virus less deadly than flu” 218,000 so far!

 

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

Trump’s tariffs destroying good jobs in MI: trade war caused loss of 175,000 manufacturing jobs.

Trump used his office to help over 200 businesses who secretly paid him thru his properties

GOP has "no appetite" for a $1.8 trillion bill: Senators not hungry: they still have jobs/insurance

 

MI sheriff speaking for terrorists plotting overthrow MI gov: out of state terrorists for Trump

Police buying every anti-personnel item: police costs tripled as crime rates fall: fear makes $

Trump’s accusations of Obama conspiracy proved false: Barr finds nothing

 

Trump gave PPP money to aviation firms AFTER they laid off workers: paid to owners

Trump withholds fire disaster funds from CA: political revenge

House on vacation again: no-show jobs Washington style: 898,000 file unemployment

 

SCAMS/SPINS:

Health insurance costs increase faster than wages: workers are losing ground to insurers

Revealed: GOP health care plan finally, we know what is in the plan: just promises!

Over 20 million will lose coverage if Trump’s Supremes vote down ACA

 

How the ‘Hoax’ hit 15 relatives from one TX family: TX Gov OKed small groups

Trump calls Regeneron a "miracle" “cure”: Trump owns stock in maker: he pushed up price 60%

Scientists: Trump ‘cure’ remdesivir has "little or no effect on mortality" for patients hospitalized 

Trump is contagious: Virus remains for 28 days: McConnell avoids WH and rally killed H Caine

Trump put 2 political hacks at CDC to bend virus information: its what dictators do

 

domestic terrorism threat is rising: Armed Trumpers at polls: guard him in WH after loss

 

Supremes halt census: Constitution: “The actual Enumeration [count] shall be made every 10 yrs  

Supremes nominee indoctrinated in male authoritarian propaganda: decisions biased

Supreme Court biased by political clubs and lobbyists for the wealthy: revenge of right

 

Supremes’ Citizen United makes election about money: Adelson rescues Trump with $75M

 

Millions with low-income locked in poverty: a tiny raise can cancel benefits given for poor

Robinhood Users Say Accounts Were Looted, No One To Call: hackers cashed out stocks

Phillip Kenner AZ caught $17 million scheme: promised HI land developments: jail

Securities firms caught hiding their RR disciplinary histories from us on CRS forms

Nissan caught misleading, deceive, overcharging, holding items ransom fine $4 million

Midland Funding caught suing for loan collection late & without documents, notice, etc

Robert Smith: how tax evaders stay out of jail: lawyers and a little ‘help’ to their friends

 

Car fluid flush: mechanics do scams too: Find a new shop if you are hit with these scams.

5G phone on today’s networks like Ferrari on neighborhood streets: wait: maybe in 2025

Social Security benefits up 1.3% but Health care costs up 3%; rising every year

 

 

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/

 

Jobs

Fidelity Investments To Hire 4,000 People In Next Six Months

Wages stopped growing relative to productivity in the 70s for most of us: we can’t retire

Trump still has a job: 898,000 new week unemployment claims

 

Who owns your account now?

BMO Harris Financial Advisors moved to LPL

Vanguard gets out of China institutional money management: focus on individuals.

 

Miracles:

Killers loose: MI terrorists AR weapons never get asked for license or background check

WI police never disarmed 17 yr old AR weapon: killed 2: terrorist not ‘militia’: Tombstone law?

Arizona COVID-19 cases fell 75% after mask mandates: family denial no masks 14 sick

AZ heat over 100 HALF the year: living indoors is the future in the desert and on Earth

 

Voting in some GOP states: It takes 11 hours in GA: Will Dems take a day off work?

Trump PO DeJoy claims reverse all the service and equipment destroyed in Apr by Nov 3

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

 

Some Americans pay; others receive

Americans live in two separate and unequal worlds

And the bailouts reflect this. In early March, the Fed kept cash flowing -- and limited losses for some billion-dollar hedge funds that made wrong-way bets with borrowed money. For some, what could be called the Fed’s triumph of efficiency could also be interpreted as rewarding rich gamblers. Neighborhood business owners, many of whom did the right thing by closing their doors to help stop the spread of the virus, have had to white-knuckle it for weeks. Some of the 1.7 million applicants approved for PPP loans describe bureaucratic runarounds. Those like Robyn Shultz sweat it out, waiting for the Treasury Department to calm the confusion and for Congress’s additional resources to arrive. “I was told I was caller number 1,403, and it would be around a three-hour wait,” said one applicant. “I stayed on the line for several hours before it went dead. I never ended up connecting with anyone.” Many small businesses say they are angry that bigger companies have gotten PPP loans and they haven’t. On April 19, several small businesses filed a lawsuit in federal court in Los Angeles against four lenders -- Wells Fargo & Co., Bank of America Corp., JPMorgan Chase & Co. and US Bancorp -- accusing them of approving big loans first. Many big businesses have access to money but took PPP ‘loans’ because they are free. “I really have no faith,” Shultz said. “I have no faith in the system. In this government. In this leadership.” Again, it is socialism for the rich.

From have-not to haves: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

Investors opened IRAs at a record level in the first quarter

Millennials, the Fidelity report noted, accounted for a majority of the new IRAs, with contributions among that group increasing 41% over last year, while the amount they contributed increased 64%. Among female millennials, the number of IRAs increased 20% from a year earlier. Surprisingly, market swings did not hold investors back from moving money into their accounts. Hardship loans averaging $10,550 were up slightly before the virus hit on a mass scale. The CARES Act allows more flexible withdrawals so future rates will be higher. Investors did not make big changes to their portfolio asset allocations even with market downturns. Most investors seem to be “staying the course” as John Bogle Vanguard found used to advise. Impatience leads to losses.

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

State revenues are negative

No sales tax and huge unemployment comp bills spells higher taxes or cuts in local services. Not enough tests, lack of personal protective equipment, 24 million newly unemployed, not enough ventilators, tens of thousands of shuttered business. Our GOP Senators have said they don’t want to help our states out. They are busy helping their friends in high places who will pay for their next election. Trump will give cash-rich oil companies direct access to our Treasury. That means our federal income taxes will go up to pay off the federal deficit. Some blue states have had to buy their own medical equipment at gouged prices. The feds have just come and taken it. Jared, Trump son-in-law says of the fed supplies:  “it's supposed to be our stockpile,” not the states.’ So with less coming in and more going out and the GOP advocating bankruptcy, we taxpayers will be asked to step up and pay more. Many wealthy people have already moved out of the states, so they won’t be paying their fair share. Don’t pay their taxes.

Tax-FREE retirement account: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

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

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

If it takes a village, the village idiot is in charge: “metrics up here” (his head)

Idiot declares: “We have the right to do whatever we want”

Idiot now says: My cure—light, heat, disinfectant—were just sarcasm!

Idiot’s disinfectant kills Americans: "I could kill and not lose voters" 

Idiot’s idiot; I don’t wear mask at clinic since “I don’t have virus”

Idiot: virus will “be eradicated” by November

Will the Supremes & Senate allow Trump to delay election?

A crisis brings out the worst in would-be dictators: Easy to end democracy

Idiot: I determine who sits in press room

How Govt wastes our money: Congress spends another 3.7 Trillion we don’t have! 

Trump to give cash-rich oil companies direct access to our Treasury: we pay the taxes

Trump tells post office to raise price for Amazon or lose $10 B: he hates Jeff’s Post.

Trump’s Agi buys crops it then destroys: Hey, Sonny, food pantries near empty

Did your state waste money on TrumpCure pills? He was just pumping up his stock.

LA Lakers take $4.6 Million in small biz money: millionaires don’t need $1200!

Gamblers get Fed bail out: We reward poor management: we pay their tax later.

SCAMS/SPINS:

Trump and Biden have conflict with China: China banks hold their loans = leverage

Trump tried his cures—shoots up ‘disinfectant’ and UV rays—lives: proof of devil?

Immunity? no evidence recovery prevents second C-19 infection we need national testing

Is it fake? Check the source, Google message wording, ask a real authority, ask your kids.

Trump watches too much TV: bogus cures, theories, fake news, non-science, nonsense, BS radio

They sent you money by ‘mistake’ scam: Never return free money without court order.

Trump’s lawyer to sue your state Gov if keeps you safe at home: Blue states, esp MI!

Too much crazy conspiracy even for Fox: 2 black women prez ‘advisors’ dumped

Did you get the Idiot’s letter? “Every citizen should take tremendous pride …”in me!

FL hiding the C-19 death toll: GOP stopped ME report actual deaths

C-19 insurance scams: some sort of COVID-19 coverage: it is fake coverage

Merrill Lynch, Eagle Strategies, Cozad Asset caught selling high-cost fund shares.

Tony Russell Joseph Batts Damien Askew Rudolph Sanders caught tax prep scam

Nathan Duane Oeming caught in child prostitution sting: defrocked

Our Reps use their position/power to make a killing on Wall Street

Jobs

Would a new New Deal infrastructure bill create more jobs quicker than relief checks?

Trump tweets all night; Biden sleeps: Joe, you need to counter with facts, just the facts!

Gym, ESPN, insurance, magazines, prepaids, event: collect all your refunds non-services

Unemployed may receive extra federal $600 IF employer fills out form.

Some employers continue benefits/coverage for laid off workers

Police stop cook from moving from train car to next by shooting him in the back?

Child abuse rising as home work life gets too intense

Who owns your account now?

Universal health care: Trump’s favorite Brit now swears by National Health Service

Some Americans would avoid health care even if had virus: fear costs: health bankruptcy

FamilyinTouch: ways to stay in touch with family friends business: costs/convenience

NJ gives property taxpayers 1 month grace: May 1 to June 1: take home after June 1.

Bank rip off: few banks pay 1.5% on your emergency cash: online: credit unions 1.8%

Miracle:

Saudis to stop flogging but will still cut you into little pieces when not looking

Navy admits mistake: Crozier goes back to USS Roosevelt after saving lives.

Dem’s Dream Team: Andrew-Michelle?

Trump promises NOT to do ‘news’ conference daily … weekly… monthly! Lied again

Sales sales sales: 60% off on some seasonal stuff: new rules may apply

Couples’ therapy for $99: life was hard enough before getting stuck at home.

Unemployed qualify for ObamaCare health plans: 60% of uninsured workers eligible.

Google Meet free with your account: stay in touch for free.

Drug helps virus victims get better quickly. Likely approved for use in certain settings

World tour without people: stay at home means some fantastic AP pics

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Use your Tax Credits like Trump

Use your Tax Credits to avoid income taxes like Trump

Have money owed to you for your work given to your foundation like Trump does so you don’t have a 1099 (earnings report) to the IRS. The payor like Richard Ebbers can take a tax credit. You avoid income tax since your foundation got the money. Set up your foundation with help from Nolo. The top 1% of US households rake in 17% of all income. But it is what you keep that is important. The 1%ers get 27% of the tax breaks doled out by the federal government. A Tax Policy Center study shows $1.17 Trillion in federal revenue last year going to individual tax breaks. (Lawyers call them tax “expenditures”) They include tax credits like giving your inflated-value art collection to your own foundation. You can put your “art” in your own “art center” on your own property. Only friends visit your federally-funded museum.

Most of us receive only 4% of federal tax breaks like food stamps and Earned Income Credit if you are poor or the property tax and mortgage credit if you are middle class.

The Tax-Credit class pays less income tax with capital gains and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on earnings while we pay 33% total tax. The tax-credit class pays NOTHING on assets they got from a “rich uncle” and on their home when they sell. Most people don’t “itemize” so we lose all kinds of tax credits. The Tax-Credit class takes off medical expenses, job hunting expenses, and work expenses not reimbursed by others, deferred compensation (bonus and stock portfolio worth more later), investment costs, investment losses, stuff they lose, stuff they own. They can eliminate income tax by listing losses from buildings, race horses, farms, leasing and businesses they own as partners, LLCs, C and S corps.  

Use your Tax-Credits too: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

How can Cornell’s advisors lose 3.3% by living in Ithaca?

Cornell’s endowment posted an investment loss of 3.3% for year ended 6/30, the worst among Ivy League schools that have reported their annual results. Other endowments with over $500 million lost a median 0.73%. Harvard, Pennsylvania and Dartmouth posted losses. If they had just put their money in Vanguard 500 Index they would not have lost money. The 3.3% loss was probably the fees and salary they pay professional “advisors” to lose money. You could do better. Instead of doing the smart thing, they are spending even more fees by moving its overpaid staff to expensive Manhattan so they can pay higher fees to “professionals.”

Don’t pay “professionals” to lose YOUR money: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Why does Don file bankruptcy so much?

Don claims he is a smart business man – master of the deal. He boosts of “paying as little as possible in taxes.” We know he is a sales person but his accountant says he knows nothing about taxes. He got friend Gov Christie to take 17 cents on the dollar he owed NJ. But why did he file bankruptcy 5 times? If he is such a great business man he shouldn’t have to admit defeat by filing. Bankruptcy used to be considered a moral failure but in the 1980s, it was successfully used to blackmail the government into giving one businessman $360,000 ($5 million today) in back pay despite losses and 60,000 workers laid off. Trump took this lesson to heart. His operations have filed for Chapter 11 bankruptcy four times between 1991 and 2009. Again in 2015! His golf club in Puerto Rico was built with $26.4 million in municipal bonds. It defaulted, leaving teacher’s pensions in shambles. Yet for Trump, “We made many millions of dollars on it but never invested a dime,” according to Eric. He put no money down but took a cut of the annual revenue — mostly for allowing the resort to bear his name. But he lives on the money from loans in many projects. "I'm the king of debt," Trump says.

If you show a depreciation “loss” on your tax return, you pay no taxes!

You can use an IRS tax shelter too: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Cars that look great at $60,000; look even better at $40,000

Jaguar lost 33% of its value in just 1 year. Lincoln $42,000 to $14,000. Mercedes C250 lost 34%. Volvo S60 lost 34%. Best used car values: Lexus RX, Audi 5, Mercedes E.

30% discounts on insurance too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Are “alternative” investments right for you?

With interest rates low and the 60/40 standard investments trending down, advisors and brokers are “coming to the rescue” with so called alternative investments. But do these investments fit your expectations? Some require more of your patience than you can give. For instance, peer-to-peer lending, owning individual bonds or a forest needs time to pay off. Are you ready to manage a rental property or precise metals? Can you see yourself putting your money with others in a new start-up company selling software? Your broker/advisor may suggest buying the ETF index of these investments with fees. Are you going to learn enough about these investments to make a good choice? Many hedge fund “professionals” have NOT done so lately. Are you really going to beat them?

Vanguard’s Top Ten have beaten most: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Merrill BoA retirement accounts got more expensive

The bank told 14,000 brokers there will be no more commissions for retirement accounts. After April 10 2017 investors who want a retirement account at Merrill will need to pay a fee based on a percentage of their assets, instead of having the option of being charged for each transaction made in their account. This could mean much higher expenses and less retirement accumulation. For instance, you might pay $7 for the purchase of $5,000 Apple and not sell for 3 years. You will now pay $75 (1.5% is average) per year--even more if Apple increases in value. If Apple doubles in value in 10 years, you will be paying $150 a year. 70 cents vs $150 cost per year in 10 years. BoA has found the gold mine in the new Fiduciary Rule.

Time to find the right home for your nest egg: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

GOP using threat of prosecution to limit minority vote

Texas election official promises prosecution of voters who use the affidavit to vote instead of a picture ID. NC and other states are using various suppression tactics to scare mostly Dems from going to the polls in the name of election integrity. There have been very few cases of fraud. In the primary, certain controlled voter rolls were cleared of voters who tend to vote Democratic. OH voters are convinced that Trump will bring back their high-paying repetitive jobs and may be surprised to know he paid undocumented Polish workers under $5 for his Trump Tower. GOP candidate Trump asked his PA supporters (mostly white) to go to minority polls and “watch” the voters in “certain areas” because “bad things happen” and he does not want a large black turnout. Many states are limiting voting machines and hours.  

Don uses his poor management skills to claim ZERO tax for 20 years

Can you deduct enough business expenses to offset income and pay ZERO tax? Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out taxable income over an 18-year period. “He has a vast benefit from his destruction” of value of Atlantic City casinos. Contractors and investors lost $ billions. He even got a tax refund from NJ. He claimed a $15.8 million loss in real estate holdings and partnerships. Trump lost $82 mil. on the Plaza deal. He lost money on casinos, buildings, airline, yacht and helicopters. Most RE owners claim losses to offset their income. Don creates his $1 billion NOL loss with a dizzying array of deductions, business expenses, real estate depreciation, losses from the sale of business assets and even operating losses to flow from the balance sheets of those partnerships, limited liability companies and S corporations onto the personal tax returns. Those losses are used to cancel out taxable income from, say, book royalties or branding deals. “Here the guy was building incredible net worth and not paying tax on it,” his accountant said. If you don’t have enough business expenses to offset your income you can use a tax shelter.

Pay taxes like The Don: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Which liar will win American’s vote? Neither can re-create jobs of the good old days!

                        Do-Nothing Congress decides US future.

           

Don:    ”I can be nastier than she ever can be." “I don’t think she’s loyal to Bill”

            “I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them.”

            I have paid hundreds of millions of dollars in other taxes—RE & property taxes.

            The New York Times, and the media, is an extension of the Clinton campaign.

            I am a great negotiator. I love debt, but—net worth negative $1.4 Billion in 1995.

            The hedge fund managers use every tax loopholes to “pay practically nothing.”

            NYS shuts down my foundation so I will just use my sons—he hides income too.

            “watch” the voters in “certain areas” because “bad things happen” white on black

            “he [Trump] has the balls to do what’s right for the country.” OH voter age 73.

            Military members with mental health issues aren’t ‘strong’ and ‘can’t handle it’

            I use Chinese steel or mob cement in buildings because they are cheaper than US.

            Half of Americans agree paying no taxes makes Don smart—Is it the same 47%?

            Romney said 47% don’t pay taxes—Trumpers or just unemployed poor?     

            I always give money to NYS AG—it pays to ‘support your local sheriff’ in case.

            Don’s mob verbal attack on mom and kid at ‘rally’ bec/ “left early”

            I do not know if I used “debt parking” to cut my taxes—“I’m genius” though

                                          

Giuliani: He’s a ‘Genius’ Lost $916 million. “He would have been a fool not to take advantage”

Forbes 400: Trump falls fell 35 spots to No. 156. Despite Don’s comments about immigrants, they set a new record of 400 list members born outside the U.S.

Accountant: “I am the one who did his taxes” Don’s tax brilliance: “None whatsoever,”

Mike:   I am a better speaker because I was in entertainment field before.

            I never said “Putin is a better leader than President Obama.” He’s “stronger.” This is code for taking action in a dictatorship like Russia. Putin invaded Crimea and Ukraine. Don has asked about using nuclear weapons. That is what I meant about “stronger.”

Hill:    Trump "apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs."      

Tim:    I really had to answer Mike’s lies. Can you imagine Prez Don tweeting all night?

            Don and GOP might shut the government again—did not help anyone.

            Don and Mike are not the new Reagans

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill                requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

GOP in OH cut voters from list – 1 million NOT get absentee ballot mailing

GOP in NJ raises gas taxes on everyone to give wealth no tax on kids’ inheritance.

We sold fighter parts to North Korea—via NZ—not smart move

Morgan Stanley caught encouraging sale of loans on securities with contests.

Fidelity family conflicted with Fidelity’s customer mutual funds-Bite hand that feeds?

Laurence Balter Oracle Investment caught front running $500,000 from customers 

Mickey Long Plano TX caught putting too many assets in “highest risk/aggressive”.

India charged 70 call center employees with fraud and impersonating IRS agents.

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has gun hidden. You and real criminals both have guns.

If you are black, you get killed even with no gun, hands up, and after stun gunned. They assume you are a “bad dude”; don’t wait to find out. Later say “found PcP in car.” If you act erratically and ignore commands, you are “put down.”

MO just eliminated licensing and training for anyone to carry concealed weapon—crazy!

FL man called NRA group BEFORE victim died from “stand your ground” killing.

SCAMS

Earth quake readiness kit: $150 everything you need--“emergency evacuation tools.”

Uber accounts are being charged for services not used—Uber says not hacked.

Ignoramus Award: Christie raises gas tax 23 cents cuts estate tax for wealthy

How our government wastes our money

Feds take $5.4 billion not $14 billion in Deutsche Bank mortgage debacle—we lost $9 B.

15,000 Navy battleship shells not used against ISIS—taking them apart costs $ millions

All my Yahoo emails have been read by the Feds—I want to be paid for the info!!

44 Afghan troops in US for training missing for 2 years—terror or just jobs?

Where have all the jobs gone?

Microsoft adds 5,000 computer scientists/engineers to standardize Artificial Intelligence. 

2,500 stores closing—over 10,000 jobs lost

Drones replace ground and air surveyors as well as some contractor staff

Who owns your account now?

Scottrade to _________?

Cabelas to Bass Pro

Scion to history

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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