Your Wealth Reserve: start saving

Showing posts with label start saving. Show all posts

Friday, December 21, 2018

Last minute gift on Christmas Day!

Last minute gift helps your young relative start investing free with a refund

You help them begin investing with a $2,000 tax credit. The amount of the credit is 50%, 20% or 10% of their retirement contributions depending on their adjusted gross income. The Saver’s Credit can be taken for your contributions to a traditional or Roth IRA; your 401(k), SIMPLE IRA, SARSEP, 403(b), 501(c)(18) or governmental 457(b) plan; and your voluntary after-tax employee contributions to your qualified retirement and 403(b) plans. Uncle Sam helps them get started. They use Warren Buffett’s investing strategy so they can accumulate a $ ½ million over time. Look at how they can make saving and investing easy for the rest of their lives: http://www.saferchild.org/power/. Send electronic book Christmas Day! https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help-ebook/dp/B00IHIFG38

Stocks are on sale!

When do you stock up on basics like paper towels and toilet paper?--when they are on sale! These every day use products have NOT changed: a roll is either $0.82 or 0.62 on sale but it is the same roll. Last week, I saved $15.80 on my shopping cart. I bought the same things I bought before. Your investments in stocks are the same. Earlier this year, your 500 Index of stocks cost you $272 and now the same thing costs $234. Stocks are on sale—the same ones: Microsoft Apple Amazon.com Alphabet Berkshire Hathaway Johnson & Johnson JPMorgan Chase Facebook Exxon Mobil Pfizer. Why are you thinking of selling?—And not buying? Think of your future first not last.

https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

Wealthy use crypto currency to launder their hidden cash

Since the new monetary system is not regulated by governments and is just virtual money (there are no physical ‘coins’ actually stored in vaults), you can hide this ‘money’ anywhere. The trick is finding places to spend it. Like counterfeit $20 bills, who will take it off your hands and for how much? You can’t just buy a ‘mansion’ with Bitcoins unless the owner will take them. Plus, where ever you store your digital booty, it might be stolen or lose value. Crypto is like Madoff’s marketing plan. He did not solicit nor advertise his Ponzi scheme. He pretended his strategy was not intended for everyone. Only the well-heeled were allowed to give him money. He created a myth and sold it via actual investment advisors and their social circles. His pitch: “you can’t have it so you want it more” and “don’t ask questions, just be grateful you got in.” "Everybody was greedy, everybody wanted to go on and I just went along with it," Madoff told a journalist.

Use your tax credits to pay less: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Need help starting to save? How’s 5% interest?

This credit union will pay you 5% on your money to get you started in a regular savings plan. This plan includes a checking and savings account plus certificate of deposit earning 5%. The requirements make it a perfect savings starter for a young person. This is the first step to using the IRS approved tax-FREE account—the Roth IRA. You earn great rate and you pay no taxes on the interest. WOW 5% without paying taxes on interest. Later when you feel comfortable, you can experience tax-FREE growth on a securities account at a low-cost mutual fund provider. Then you can earn 10-12% on your retirement investments and pay no tax now or later when you take the money out. You can take out contributions anytime tax FREE. However, if you keep investing automatically in this account, you could reach $1 million later—Compound interest and earnings without taxes EVER. Compounding is what keeps the rich, rich.

It is a miracle: https://www.amazon.com/Miracle-Compounding-Turn-$9-a-

day-into/dp/1470176513

Is this tax shelter right for you?

You can save/invest up to $500 a month and never pay tax on your earnings. This tax shelter is approved by the IRS! You don’t have to hide your money overseas. You don’t need a lawyer to set up the trust. You don’t need an advisor to manage your earnings. You don’t need an accountant to prepare your return for this shelter. You can set up this shelter on the phone or online in about 1 hour. You can have the trustee put the same monthly amount in automatically. You can have the unbiased trustee manage the securities at little cost. Tax-FREE earnings means you are not paying 10%, 12%, 22%, 24%, 32%, 35%, or 37% on your money after you accumulate $500,000 or a $1 million or TWO. (You can earn 10-12% a year over time.) There is no penalty if you need to take out the amount you put in so far. You may even be able to put your 401k in this shelter.

Buy before Congress changes terms: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

401k changes

GOP tax planners want to change the way 401k plans work. One change is building an annuity into the plans. Workers would no longer have to move their money to an advisor who profits from selling annuities. However, annuities are run by insurers and they want fees too. This could be good news for some but expensive for others. Another change is linking 401k plans to student loan payoffs. The

U.S.

has more than $1.4 trillion in student loan debt and Congress wants to make sure the bank loans are paid. The bill would allow workers who are paying down student loans to receive employer matching contributions into their 401(k) plans as if those student loan payments were salary reduction contributions made into the 401(k) plan. The legislation also applies to 403(b) and SIMPLE retirement plans. Another bill would allow companies to use up to $5,250 of employees' pretax income to pay down the employees' student debt directly.

Congress helps out the banks: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

The Cons of Roth IRA: When NOT to use Tax-FREE account

Expert Slott says there are circumstances when you are NOT better off using a Roth IRA. For most of us, the Tax-FREE account is still the best deal in town and you don’t need a lawyer or advisor to arrange a tax-free retirement. Any large mutual fund provider will set it up and invest your contributions in the low-cost funds of your choice or a Target Date fund based on when you retire. Since you will owe NOTHING on your IRA retirement income, you may not owe taxes on your Social Security benefits. SS income can be taxed up to 85% depending on other income. Converting regular IRAs into Roths (‘Back-door Roth’) is allowed no matter what your income. Roth IRA contributions can be used before age 59 ½ without penalty because you already paid tax on them. Consider how much tax you avoid: contributions of $3,000 a year for 33 years ($99,000) can earn over $1 million and the taxes on gains ($900, 000) at 22% or 198,000 are avoided.

Perfect for most: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Is your employer taking too much from your retirement plan?

Another employer was caught charging employees more for their 401k plans. Brokerage firm Edward Jones agreed to pay $3.2 million to settle 401(k) fiduciary breach case. There were "superior, less expensive investment options" that plan executives should have chosen, the Tuesday settlement document said. Participants also alleged that the plan charged "excessive record-keeping fees." Some employers have not only failed to offer ‘superior, less expensive options,’ but have actually tried to profit from their employees’ savings for retirement. Some have received ‘kick-backs’ from the investment option providers. Instead of helping employees, they make employee-benefit plans a profit center. Check your plan: https://www.brightscope.com/ratings/E/.

Compare FREE IRA to plan: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

Medicare for all

The most heard objections are too expensive and you would have to wait to get treatment like in

Canada

and

Germany

. Anyone who pays for their health care benefits knows that WE HAVE THE SAME THING NOW. Many of us who pay a lot for care (unlike millionaire Congress people and the TX judge who banned ACA) have put off care and waited because of the price. A new study says 30% of us do that NOW. If you have ever tried to obtain authorization for a treatment from a health insurer’s telephone clerk or tried to get a provider to guarantee they wouldn’t bill you but accept the insurance company payment ONLY, you know you are living with a bureaucracy just like the government. Every time I go to my PC doctor to renew my scripts, I have to sign that I will pay if my insurer won’t. Sometimes the firm that owns my PC practice will tell me I must make another appointment just to have them renew my scripts for diabetes and bp.

Let’s try a new way so my pre-existing is covered for the rest of my life without worry: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

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

Make

~~America~~

, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions?

Truth isn’t truth, his lawyer

Two

Americas

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

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

J F Kennedy was 43 when he beat Nixon

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

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

Shutdown 12/21 may cost $24 billion: Congress & prez on strike yet we pay again!

Trump to create star wars to fight future wars at $200+ billions—no wall needed.

14,700 kids in concentration camps held prisoner. Matt 18: 5-6.

Trump wants us to work harder for food especially when we are poor.

The Wall has $ millions in GoFundMe: Trumpers saving taxpayers $70 billions.

SCAMS/SPINS:

Our Border Patrol killed the first immigrant looking for asylum: MAGA?

TX judge cancels ObamaCare for millions in South: He keeps full coverage himself!

State Farm pays $250 million to car owners suing for inferior parts for crash repairs.

Trump got Putin to move votes and disrupt voters for Hillary. USSR worked for Trump.

Trump used his own charity for political and personal gain: wealthy folks don’t go to jail

Trump made school lunches less healthy—more calories for obesity in kids?

Trump makes Christmas Eve a fed holiday—bolsters the base?

Trump re-promises Wall: now ‘it will save $ billions’. Fetish inscribed on his tombstone?

Trump: ‘mission accomplished’ in

Syria

—victory over ISIS? troops home for Xmas?

Trump and Putin on the same page: Would Hillary have cut and run? Putin feared her.

MetLife caught canceling pension payments for profit—client marked ‘dead’—no jail!

Eva Weinberg caught stealing from Dwight Freeney; in jail & Merrill pays fine.

Hector May NY caught stealing $11.5 million in Ponzi jail up to 25 yrs.

Edward Jones caught switching clients to high-fee accounts.

Merrill Lynch caught giving insiders best new stock deals. Fine no jail. We’d get jailtime.

Ameriprise caught failing to protect investors’ $1 million from theft. Fine no jail.

deVere

USA

caught using LinkedIn to steer clients to high commission tax shelters.

Jonas Knopf NJ caught selling fake health plans from fake insurers.

Pope tells child abusing priests ‘church not shield’ but already hid the horrific crimes!

Catholic Church covered up bishop accused of sex abuse of kids: no jail time.

We need guns for ‘protection’ and ‘hunting’ and our kids are dying from them.

Lynching is finally a designated a ‘hate’ crime: 3,450 blacks lynched 1882 and 1968.

Complaints against Kavanaugh dismissed by fellow judges because he’s now a Supreme.

The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.

‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Supremes protect Don’s ‘Orders’? – GOP: Sure, pres can change Constitution anytime.

----------------------------------

Jobs:

Miners Find Egg Sized Diamond In Canada's Frozen North: 552-carat yellow gem.

Congress avoids doing job to fund the government but still gets fully paid vacation.

Who owns your account now?

Best car for your teen for safe holiday under $10,000.

Why your Wells broker/advisor is cranky next year. Pay cuts to pay for $ million fines.

Vanguard merges 2 big funds to lower costs even more: Lower cost; earn more.

Amazon may offer banking & investing robo for Web gen. for a small fee/huge numbers

Age 71?—you have to take your RMD or face penalty by Dec 31—one week.

2.8% CD at banks will go up Fed says: https://www.bankrate.com/landing/cd-rates

Robots do weird things: Big Brother listening--conversation can end up at employer

Miracle:

Woman with lymphoma gets cured in 30 days changing T-cells: not for everyone.

Young people are our future: https://www.youtube.com/watch?v=KKOURwGufWk

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Friday, December 14, 2018

This is how Jared avoids his fair share of taxes

Like papa, Jared uses other people’s money to buy commercial real estate. He pays himself well to create losses. He adds the phantom expense called depreciation (building use and aging). The losses mount up over the years and are added to this year’s loss. He earns $millions but never pays tax. We taxpayers actually give him a refund. Here’s an example from 2015. W-2 income: $198,000. Taxable interest: $536,000. Dividends: $1,000. Capital gains: $974,000. Deductions: Tax losses from real estate and other partnerships: $3.5 million. Tax losses carried forward from previous years: $4.8 million. Total adjusted gross income: Negative $6.6 million. Tax refund $4,000. A new Jared NJ property just so happens to be located on one of papa’s

Opportunity Zones for another tax subsidy in Jared’s future. We have to pay Jared’s share of taxes too.

Use your own legal tax shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Prepay your 2019 tuition to maximize your tax credits

If you paid less than $4,000 of tuition for your college student, you can pay for the first semester or quarter of next year's college tuition in December and use that tuition for this year's American Opportunity Credit. However, you want to do the exact opposite if you've already paid more than $4,000 for your college student who qualifies for the American Opportunity Credit. You get no additional benefit from the American Opportunity Credit (max $2,500) if you pay more than $4,000 in tuition each year. In this case, you'd want to wait until January to pay tuition. That way you might increase your American Opportunity Credit next year since you've already maxed out the allowed credit this year. Be sure to show a Form 1098-T from your college or university to your preparer. Credit is partly against tax and partly refund if you owe nothing.

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

Are you tempted to move your nest egg to gold?

Before you buy gold or its ETF, GLD, compare the fall it made in 2012, losing more than HALF its value over 10 years. Meanwhile over the same 10 years, the stock market index IVV, grew 129%. Use perspective to judge your investment accomplishments. Of course they all go up and down but did you and your broker KNOW to get out of gold on July 1 2012? I doubt it. Market timing is a sure way to lose money—you must be correct getting in and getting out. Over time your best bet (unless you have insider information like our Congress people do, is to hold, NOT to use a professional ‘gambler’. Compare broker /advisor-assisted accounts to a stock index (S&P 500): 3.79% vs 11.04%. Would you rather earn 11% over time? (most fund fees <0 .04="" o:p="">

Forget the ‘professional’ salespeople: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

Is final expense ‘senior’ life insurance right for you?

‘Premium never goes up and coverage never goes down.’ ‘You can’t be turned down.’ ‘Don’t leave your family with expenses.’ ‘Only $13.40 a month.’ Let’s look at the caveats for these plans. Coverage is limited for first 2 years and $13.40 buys only a $2,000 benefit at age 60 if you are female. Average age at death is 81 female, 76 male. So $13.40 for 20 years is $3,216. A $2,000 benefit (costing $3,216 or more) will be worth $1,000 in 20 plus years (inflation). You can buy more but the cost goes up at each age when you buy it. If you want to cover funeral and medical expenses for sometime in the future, this is the worst way to do it. No medical means the rate is the highest possible. If you invested your premium in a saving account or CD, you might have $4,400 not $2,000. Bank POD accounts serve this purpose. Clearly this account is for someone who responds to emotional TV appeals. A cost-effective legacy would provide an IRA which pays the beneficiary immediately. This could include funds for the funeral AND help the grandchild. Besides, after you pass, your debts are not owed by your relations.

Pass on your legacy: https://www.amazon.com/Give-your-Grandchild-Lifetime/dp/1456433105

Need help starting to save? How’s 5%?

It is a miracle: https://www.amazon.com/Miracle-Compounding-Turn-$9-a-

day-into/dp/1470176513

Is this tax shelter right for you?

You can save/invest up to $500 a month and never pay tax on your earnings. This tax shelter is approved by the IRS! You don’t have to hide your money overseas. You don’t need a lawyer to set up the trust. You don’t need an advisor to manage your earnings. You don’t need an accountant to prepare your return for this shelter. You can set up this shelter on the phone or online in about 1 hour. You can have the trustee put the same monthly amount in automatically. You can have the unbiased trustee manage the securities at little cost. Tax-FREE earnings means you are not paying 10%, 12%, 22%, 24%, 32%, 35%, or 37% on your money after you accumulate $500,000 or a $1 million or TWO. (You can earn 10-12% a year over time.) There is no penalty if you need to take out the amount you put in so far. You may even be able to put your 401k in this shelter.

Buy before Congress changes terms: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

How can you avoid home buying mistakes?

No 1 rule: get mortgage first so you can pounce. Write down your absolute needs. This will NOT be your only house. Be practical—walk around neighborhood at night and day—looking for noise and pollution. Never buy a home with a shared driveway. Consider the nearby activity—your street used as detour from main road when school in session? Do research: Look at the neighborhood tax records—are taxes jumping in recent years? Consider estate sales—study internet listings for private sales—for real bargains. Make sure you have $5,000 on hand for immediate repairs or new inside painting—costs less BEFORE you move in. Buy lawsuit insurance too.

Make a plan: https://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Is the IRS saver’s credit right for you?

Yes, you can receive a credit for saving worth up to $4,000. The amount of the credit is 50%, 20% or 10% of your retirement plan or IRA or ABLE account contributions depending on your adjusted gross income. The maximum credit amount is $2,000 ($4,000 if married filing jointly). The Saver’s Credit can be taken for your contributions to a traditional or Roth IRA; your 401(k), SIMPLE IRA, SARSEP, 403(b), 501(c)(18) or governmental 457(b) plan; and your voluntary after-tax employee contributions to your qualified retirement and 403(b) plans. Let Uncle Sam help you get rich.

Use your tax refund to fill your account: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

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

Make

~~America~~

, “The Don”, Great Again

Senile Psychosis

Truth isn’t truth, his lawyer

Two

Americas

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

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

J F Kennedy was 43 when he beat Nixon