Will crypto assets support your retirement?

 

Easy tax filling

Online IRS approved software is easy as answering questions. I have been using the Free-File vendors for years at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. I have used TaxAct, FreeTaxUSA, and 1040NOW.NET. I pay a small fee to have the same return filled in my state of New Jersey. I avoid all the commercial sites that say they are ‘free’ since they usually charge for some special form needed each year. In fact, one of the commercial sites, Turbo, has been notified by the FCC to stop claiming their service is ‘free.’ The benefit for using sites like FreeTaxUSA is that next year they have kept your name and address data so you don’t have to reenter your bank, broker, employer, etc data. This data will prompt you to find info that you may have not received or have forgotten to obtain. Some reviewers claim these sites are not comprehensive but I have found FreeTaxUSA to provide all the forms and calculations for our return of about 46 forms/pages. Plus we get our refunds by direct deposit in about 3 weeks. Check for your refund: https://www.irs.gov/refunds. Due Monday April 18.

Use all the tax credits you can: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

Will crypto assets support your retirement?

Many working people expect to receive huge gains from this new investment type, despite knowing very little about it according to a new survey. Responders were asked: ‘Where do you expect the greatest return on your investments over the next 10 years?’ Unfortunately 30% think crypto will provide the biggest investment returns. Stocks are second with about 20%, mutual funds 11%, real estate and NFTs show single digits. Younger people expect to retire earlier than older people as expected. Unfortunately, crypto is the newest ‘get rich quick’ scheme in the press and the top scam mechanism. Since schools do not teach young people how to invest for retirement, it is up to their parents with limited financial literacy to teach them. Most don’t know about the tax-FREE account available to everyone.

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

 

Do you use the power of compounding?

Most high schools don’t teach the most important aspect of managing your money. Most average middle-class parents don’t know how wealth is made. Sure they have heard that some people become wealthy by creating a new biz like Google or winning the lottery or inheriting their family legacy. But most young people don’t know how to use the miracle of compounding which Warren Buffett credits for making him wealthy. If your math teacher mentioned it at all, they probably used the illustration of how a savings account grows: a deposit of $1,000 grows to $1,010.05 in a year. Not exciting enough to remember by the time you start earning real money. If schools were allowed to teach compounding with examples from the real world, everyone would show this financial miracle at work. Thus a teacher would show the actual results of real returns documented by DALBAR, the unbiased tracking firm. For the long-term investor, the SAFEST investment is a low-cost stock market mutual fund compounding at the rate of 11%. An honest math teacher would then show a chart like the one of real accumulations over time in this book. The teacher could build a real table showing $250 invested monthly for 35 years with a total accumulation of $1.2 million:

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

 

Not all wealthy hedge funds do well

Things have gone from bad to worse at Tiger Global Management’s flagship hedge fund. The hedge fund tumbled more than 13% in March, according to a person familiar with the matter, capping three straight losing months and a tough 2021. The decline was 7% last year, its first annual drop since 2016. Hedge fund managers produced aggregate performance of 10.3% in the year ended Dec. 31, down from 11.8% the previous year, returns of the HFRI Fund Weighted Composite index showed. Compared to a simple low-cost stock index fund return of 28.83% in 2021, 18.38% in 2020 and 31.74% in 2019, hedge funds have suffered from their high fees and costs. Instead of trying to pick securities and leverage returns, many wealthy folks would have been better off leaving their money in a stock index fund like the Vanguard 500. As a group, hedge funds have a net outflow because high costs must still be paid to managers. Tax-FREE account approved by the IRS is a better deal than a wager on a hedge fund manager.

https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236/

 

Why are we paying a higher tax rate than the wealthy?

Bloomberg earned over $2 billion but paid only 4.1% in taxes. Ultra wealthy high-income Americans are not only privileged—they beat the system and pay less tax than we do. For them it is a game: not paying taxes. “That makes me smart” one confessed during the presidential debates. Jeff and Elon paid nothing recently helping to pump up the national debt—our children’s debt. Most corporations pay nothing. The middle-class pays more than most wealthy people according to Warren Buffett. We pay total taxes of 32.9%. They pay under 20%. The American system is withering away.

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

 

You don’t need a financial industry sales person

I have been in the industry since 1987 and I came to the conclusion that most middle-income families can’t afford to lose up to 63% of their hard-earned savings/investing to the financial industry. From the inside, I saw that most financial clients are wasting their money on the tricks and hype presented by most sales folks. After obtaining all of the licenses from the industry, I can tell you that you don’t need to pay for the biased self-serving advice from the industry. The best and most useful information is available FREE—books and internet provide exactly what you need to be a successful investor and financial services consumer. First, no advisor knows what will happen with a security or the market next. Second, we know the probabilities of investment success by security type. Stocks and low-cost stock mutual funds provide 11% return over time—more than 10 year periods. Third, fast trading hot stocks finish last. Monthly dollar cost averaging provides the best method of investing. Fourth, buy all financial services from direct sellers not salespeople. Get three estimates of costs before you buy anything. Costs matter: https://www.amazon.com/Keep-Simple-Essential-Financial-Life/dp/1492258849

 

 

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

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

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

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Nov 8 2022 Trump’s “national revolution”

 

 

Another terrorist pleads guilty

 

Terrorist ‘follower’ found guilty

 

Terrorist ‘lawman’ guilty

 

Junior’s ‘plan’ to overthrow government: ‘We control them all’

 

 

 

How Govt wastes our money:

Justice wasting time on Trump’s stolen docs not on his attempted overthrow of gov?

TX charges woman with homicide but there is no Homo sapien dead: corpus delicti

Secret Service easily duped with gifts and fake badges: we pay a lot for un-security

 

19 GOP states prohibit prescribing abortion pills by telehealth or sending them by mail.

Yelp joins Citigroup in covering expenses for employees travel for abortion services

Drug pusher industry regulates the regulators: drug profits over drug safety: Oxy for all

 

FL GOP locks in future wins with new district maps: Dems lose

Fake transactions to fraudulently evade $61 million in taxes: IRS never catches wealthy

We are making new nuclear warheads despite having enough to kill Earth 10 times over

 

SCAMS/SPINS:

Sacramento killing automatic switch can fire hundreds of rounds per minute: no chance to defend

Every day in America, more than 40 children lose a parent to shootings: Wyatt Earp right

 

More boomers are retiring to the streets, living in cars: rents rise 33%, health goes first

Future of planet Earth is up to business to clean up its mess: they keep most tax money

Business unlimited election spending puts their Reps in gov positions, make laws, regs

 

990,000 dead: bring mask and test again: party spreader: third cause of death in US

Scam: voice clone to make you pay for your ‘kidnapped’ family

Gift card scam: Walmart helped victims claim return of $4 million

 

‘Zuck bucks’ virtual coins for Facebook and Instagram users helps Zuckerberg get richer

Car dealers gotten in price inflation spirit: how much more can they take advantage?

Car makers lost way: Not A to B: entertainment systems, tech centers, home offices, digital firms

 

Roger Ng, Goldman Sachs caught violate anti-bribery launder money laws: jail.

Robert David Jr, Morgan Stanley caught inflating client assets to trade w/o permission

John Winslow Edward Jones caught stealing money to buy gold: defrocked

 

NYC AG lets Trump slide: investigators have ‘crime evidence’: tax evasion mobster Al

Trump vows to release the terrorists if he takes over government again

GOP tries to rewrite US history of brutal slavery: Putin would be proud

Trump enforcer Mark Meadows caught: GOP voter fraud: lie about home: No Jail

Trump’s GOP will no longer debate for prez: too hard: moving ‘debate’ to Fox/RTN?

 

cryptocurrency scams promise huge gains: you missed them already $5,000 Mar 20, 2020

Retirees suspicious of using 401k balances to buy lifetime guaranteed income annuity

Fuel oil to heat home costs $5.25 but $3.77 for car gas yet costs less to make: ripped off

 

Hitting Putin: $800 million worth helicopters and howitzer artillery challenge next

Putin kills 50 women & children waiting to leave Kramatorsk: he left his dud missile

Russia headed for historic default on foreign debt: rubles don’t buy what they used to

Putin may not be able to stop himself: he is the only one: only force can stop him?

Pence Says He 'Stood Toe to Toe' With Vladimir Putin: like Bush ‘sees into soul’?

Even tiny Luxembourg supplies antitank weapons/jeeps: Estonia giving $240 million

Another big Russian boat seized: This one $735 mil could buy many tanks

 

Jobs

NYC subway cameras out during shooting of 10 in Brooklyn: hire camera repair teams

275,000 new hires in one TX area: child hunger still a problem there

 

Who owns your account now?

NJ gas price falls to $3.97 from $4.09 in 2 weeks

Buying used: check the VIN number on SaferCar.gov Note recalls, problems not fixed

Teen “persistent feelings of sadness or hopelessness” up from 26% in 2009 to 44% 2021

We are still trying to hail aliens with messages in Norwegian, geometry and funky music

 

Miracles:

Scientists turn back the clock 30 years for human skin cells: no more wrinkles!

47 Senators don’t support American promise: 53 to 47 first Black woman Supreme.

Kyiv comes back to life: triumph and sadness: it’s different 3 million left

 

 

Everything in the universe from sun to stones is made of subatomic ‘vibrations’

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

Mass–energy equivalence: E=mc^2   Everything at smallest level is moving!

 

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/

 

Can Biden actually get the wealthy to pay 20% tax?

 

Can Biden actually get the wealthy to pay 20% tax?

Biden has proposed that we tax 20% of unrealized gains. Since most wealthy people hide their assets and income to avoid INCOME tax, will the millionaires in Congress agree to this tactic? Unrealized gains are the POTENTIAL value of the stocks and other assets that the wealthy hold. They use the assets as collateral for loans to buy things like buildings, their mansions (Trump), their yachts, and their everyday lifestyles. Loans are not earned income so they pay no taxes. For wealthies like Jeff and Elon, they hide their assets in tax havens and legal entities so they don’t pay taxes at all. Is it likely that Michael, George or Carl will give in to this proposal to pay up? Will Warren Buffett agree to pay 20% when he pays HALF of what his staff pays? He avoids paying what his staff pays by controlling his taxable income. If the rich pay an average of 8.2% of taxable income, will they voluntarily pay 20% of their billions in assets? Will they willingly give up their tax avoidance schemes? Is it possible for the IRS to even be able to decide what their 20% of unrealized gains on $billions of assets are when they can’t collect what is already owed by this group? I don’t think Congress will act on this change. All we can do is use the IRS-approved account that allows us to avoid taxes on our gains in retirement just like the wealthy do now. Biden should know, avoiding tax is the American way.

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

 

 

Easy tax filling

Online IRS approved software is easy as answering questions. I have been using the Free-File vendors for years at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. I have used TaxAct, FreeTaxUSA, and 1040NOW.NET. I pay a small fee to have the same return filled in my state of New Jersey. I avoid all the commercial sites that say they are ‘free’ since they usually charge for some special form needed each year. In fact, one of the commercial sites, Turbo, has been notified by the FCC to stop claiming their service is ‘free.’ The benefit for using sites like FreeTaxUSA is that next year they have kept your name and address data so you don’t have to reenter your bank, broker, employer, etc data. This data will prompt you to find info that you may have not received or have forgotten to obtain. Some reviewers claim these sites are not comprehensive but I have found FreeTaxUSA to provide all the forms and calculations for our return of about 46 forms/pages. Plus we get our refunds by direct deposit in about 3 weeks. Check for your refund: https://www.irs.gov/refunds

Use all the tax credits you can: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

Retiree’s advice to their young adults

“I wish I had started earlier and put my investing on automatic,” Mitchell said. August: “I wish I had kept adding a steady amount to my account.” “I paid my advisor more than I needed to,” complained Jose. “I should not have stopped putting money in to the 401k” Mr Graham confessed. “If my kids would just invest in the market index, they would be rich,” Sam argued. “If I had just added more every time I got a raise, we would be OK,” said Emily. Fred: “The family should have talked about our money goals from the start.” “Playing the market did not help us in the long run,” admitted Roger. “Have a fee-only planner review the accounts every 10 years or so to keep you on track,” Maureen advised. Read the Fidelity study to compare your progress: beware Fidelity is not unbiased.

https://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

 

 

Creating your own tax-FREE pension from your tax refund

The average tax refund is over $3,000. By investing that $3,000 or more you can create a tax-FREE pension for your retirement. $3,000 a year, $250 a month, invested in a low-cost index fund can be worth $500,000 in 27 years and $1,200,000 in 35 years. Because you can use a special IRS-approved account in a low-cost mutual fund trust, you can spend all your savings—no income taxes. Any funds left over can go to your beneficiary free of tax too. Most working people receive a tax refund because Uncle Sam insists you pay your income tax as you earn it each pay period. Let Uncle Sam help you provide enough tax-FREE income in retirement. Currently, Social Security benefits are taxable for many working people in retirement. However, if this special pension income is not taxable, you will not have to pay tax on your Social Security benefits. 

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

 

Buying an annuity at today’s low rates is mistake

Annuity benefits are set for the rest of your life at current LOW interest rates. Yes, rates are going up but insurers price immediate annuities on what they earn today. Today a male 65 years with $300,000 can buy $1,627 a month for life. Waiting a year for the 10 year Treasury rate to rise may affect your long-term income significantly. If you a buying a deferred annuity, again, your current crediting rate is low. While you wait, you could speculate a little by investing in an energy fund or ETF. Energy prices will probably keep rising for a year at least. A safer bet would be a High Dividend Yield ETF or mutual fund. An alternative to buying any annuity should be considered for the future. Most retail annuities are overpriced and inflexible. Taking 2-3% of your nest egg every year and charging 3-7% if you need your money back are expensive setbacks.

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

 

 

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

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

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

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

Jan 6 2021 Direct assault failed: guns & bombs

 

Nov 8 2022 “Legal revolution”

 

 

Trump judge exonerates Jan 6 terrorist

 

Pro Putin GOP group of 6: FoxNews

 

 

How Govt wastes our money:

Wealthy Congress create loopholes: wealthy hide assets in fake companies: avoid tax

OK bans abortions: TN allows children to marry—no minimum age: crazy GOP men

GOP blames Jackson for porn sentence but legalizes men consummating with kids

 

GOP Christian Nationalists ban sex talk not guns: reinstate Prohibition on words, books

‘1984’ prediction comes true: 26 states now ban books: USA ending 246 yr experiment

 

SCAMS/SPINS:

Congress millionaires use insider trading to make fortunes: it is illegal for us citizens

 

FTC sues TurboTax to stop ‘misleading’ ads for free tax prep software: IRS free file

Rental screening discriminates: unregulated industry controls our lives for the worse

Few payday loan borrowers are benefiting from no-cost extended payment plans: fines

 

Anthem Health GA caught years-long pattern of violations of policyholder’s rights: fine

FL to punish Disney for supporting protests against teacher restrictions

Big Data use allows DraftKings and FanDuel to optimize customer contact for addiction.

 

TX starts shipping immigrants from border to DC as protest to lifting Trump blockade

TX rejects mail-in ballots in new voter suppression program to fill GOP slots

TX, FL like a foreign countries: LA bans official travel to TX, FL over sex, race policy

 

Sacramento shooter kills six: illegal possession of machine gun: our gun defense useless

Study: adults who live with gun owner face twice risk of death by homicide. Wyatt Earp

 

Marianne O’Shee Smith caught stealing $40,000 older clients promised convert: defrock

John Law, NY caught Ponzi $70 million loss: fake promissory notes, higher returns

WellsFargo caught overcharging their own employees for 401k investments: fine, no jail

Autumn Jordan, Manuel F. Pinazo, Bank of America caught taking Covid loans for personal use

digital coin theft: despite blockchain claims of protection, you can lose your virtual money.

 

'We Build the Wall' Head Brian Kolfage Pleads Guilty to Defrauding Donors: Trump Wall broke

Look OUT: Autopilot drivers zone out when automated driving features are switched on

 

992,000 dead: 61% of unvaxxed are Republican: GOP trimming voters for 2024

 

GOP makes historic mistake: Black woman, highly qualified, denied SCOTUS

GOP makes historic mistake: White woman, unqualified, joins the clown car for Trump

If GOP candidate wins election, will America still say “stolen”? Trump: “rigged” election

 

GOP plan to repeal ACA for 31 million Americans with subsidized health insurance

GOP voter fraud in own party: Trump’s lawyer claimed to live in a NC trailer

Congress support of NATO? 63 House Republicans voted “no”: Putin victory?

 

Black Lives Matter leaders buy themselves a $6 mil house in CA: donations for elites?

Employee lawsuits demanding reimbursement for expenses while working from home

 

Can US convert Russian yachts and art to help us rebuild the Ukraine Russia destroyed?

 

Will sanctions on Pukin’s kids really stop this dictator: removing the head usually works

We have to arrest Putin first before he can be tried as war criminal: who will volunteer?

Putin losing war but no one will tell him: soldiers, tanks and civilians strewn on street

 

Politicians talk research on Russia war crimes as bodies pile up: who will stop Putin?

Russia borrowing Alex Jones fantasy of staged killings: Russia: Ukraine staged kill own

On tape: Russian soldiers described questioning soldiers/civilians then shooting them

Putin bombs rail station of fleeing civilians: 50never had a chance

 

Video: Ukrainian troops shooting captured Russia soldiers: shooting POWs

Lend-lease war materiel could help Ukraine hold land like Allies in WWII.

UN could send ‘peacekeepers’ to get civilians out of way of Russian army killing

 

Jobs

Minimum wage in 2021 is equivalent to same in 1940: buying power went down.

Almost anyone with a sport’s head knew that Tom would be back: Tiger too.

Barclays bank raises min wage to $20.50 in US: Santander bank wages raised to $20

 

Most Dynamic Metros: jobs, diverse industries, mix of companies, and fun things to do

Teachers need 2 jobs just to survive: teaching kids requires grit and patience with parents

Truck drivers start at $95,000: driver shortage for hard job requires pay

 

Who owns your account now?

“All publicity is good publicity” for Chris, Will and the Oscars’ future shows

$7.75 million for studio apt in NYC clouds: 1400 feet up: swaying in wind costs nothing

 

Miracles:

Pope apologizes for ‘deplorable conduct’ of some Catholics abusing the “least of these”

Extension to file or pay taxes: https://www.youtube.com/watch?v=PhGCnuCdFI4

Social Security Facts: offices reopen April 7 Social Security Administration announced 

 

HISTORY: first Black woman to serve on the highest court  Only 3 of 50 GOP agree

New lung cells just discovered that can replace many damaged cells: smokers can recover

Stanford engineers invent a solar panel that generates electricity at night: no utility bills?

 

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/