Employer quit matching your 401k?

Employer quit matching your 401k?

OK. Now you have to decide whether you will continue the contribution rate when they did match. Stocks are a bargain so they will compound faster over time. This is a time when it counts more that before the virus recession because stocks are on sale—average 20% off. Your best option is a tax-deferred IRA. You can open one anywhere but the larger fund companies have the lowest cost—0.04%. Your individual IRA acts like a 40lk: reduce income now. You can have the trustee take up to $6,000 from your checking account automatically. You control the amount and the costs as the market swings back to its growth mode. You will automatically gain 20% and as time passes; your compound interest will supercharge the growth. Over the next 25 years, your monthly contributions of $250 could become $400,000. And because you use a low-cost market fund, you avoid giving up 63% of your total potential accumulations.

IRA cost over 401k fees: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Congress people benefit from advance on virus recession

GA GOP Kelly Loeffler said she wouldn’t do anything different despite her moves looking like insider trading based on the virus recession of 2020. Her stock sales show they add up to $1.8 million profit on the C-19 market fall. The stocks sold have lost a 1/3 of their value, meaning the couple avoided taking a big hit on them. Under Trump’s new rules, they may end up paying no capital gains on their jackpot. Her husband Jeffrey Sprecher is a regular gambler in the markets. Other insider-trading kingpins include Sen. Richard Burr (R-N.C.) who claimed his winnings by selling $1.7 million in stocks just in time, while assuring the public that the U.S. was well positioned to withstand a pandemic. As the head of the intelligence committee, Burr has access to the government’s most highly classified information about threats to America’s security. His committee was receiving daily coronavirus briefings around this time, according to a Reuters story. There are many more Congress people engaged in illegal (for us) trading. Only one was caught and he gets home time not jail time. As you can imagine they are not held accountable since they write the exceptions to the laws.

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

Suggestion list: What to do with your $1200

Hold on to it for essentials as the future is unknown. If you must have cash to buy an essential down the line, you have it. Doctors, landlords, lenders, utilities can wait—they have reserves and access to federal lending programs we don’t have. Many states are making evictions and shutoffs illegal. If you have been laid off, explore your health care options. Trump says he will pay hospitals for C-19 care but what if you break a leg running your part-time business or fighting to get into the grocery store. Use some of your money to start/expand a hobby. People need something to do at home so offer your hobby/book/toys/etc over Amazon eBay, Craigslist, Facebook Marketplace, etc sales process. You may be allowed a tag sale in your front yard as long as you have 6 feet lines on ground. Better yet use Craig list. I sold an attic house fan that way once. Never take anything on the internet for truth without verify first. I go to 3 other sources before I click. My garden center sent me an email offer with link to see details. I emailed them directly and they confirmed it was a scam/phishing from theft of their email list. Explore your situation. Ask your employer for help: vacation pay; forward sick time, etc. Ask your vendor for a couple of months wait in writing.

Gov resources to help deal with virus recession:

VIDEO: CARES Act Mortgage Forbearance: What You Need to Know

Guide to coronavirus mortgage relief options

What you need to know about student loans and the coronavirus pandemic

Beware of scams related to the coronavirus

Online and mobile banking tips for beginners

Is your income down in 2020?

You are only working half the hours? Is your stimulus check paying for essentials and that is all the income you expect this year? If you expect to have less income this year, you can increase your take home pay by telling your employer to reduce the fed and state amounts for withholding for the rest of the year. Use IRS form W-4 https://www.irs.gov/pub/irs-pdf/fw4.pdf to compute your withholding amount. Ask your employer to help you figure out the form since it was made more complicated last year. Even if you don’t have enough taken out this year, you will not be penalized next year since the penalty does not begin until you owe over $1,000. You need the money more than the government since they can print it and you can’t.

Save on financials: https://www.amazon.com/Financial-Bargain-Book-Save-3000/dp/1517264936

And you wonder why your fees are so high?

Goldman Sachs CEO David Solomon, after giving himself a raise in 2019 to $27.5 million, decided to buy two (2) Gulfstreams for $75 million each. A spokeswoman for Goldman said the purchase of the planes would save it money. Right, Father Christmas! Solomon will be at the Fed window taking the forgivable federal loans. The program was for critical aid to small businesses, including some advisors, who need the assistance to stay in business during the COVID-19 crisis. Treasury Secretary Steve Mnuchin told Fox Business that the loans should be able to cover about 50% of the private workforce. Goldman could have covered their workers but Solomon already spent the firm’s money. You could switch your accounts to low-cost Vanguard as many others are doing: $48.5 billion--more than four times its nearest competitor, BlackRock. Tell David NO.

Stop helping rich get richer: https://www.amazon.com/Millionaire-Mutual-Funds-Save-FEES-taxes/dp/1534939490

Do any of the virus bailout firms pay income taxes?

Boeing hasn’t paid taxes in years. They get guaranteed loans every year from ExIm bank. Recently they got $64 Billion from us. They got $13 Billion from state/local subsidies on top of the federal subsidies. Our taxes are still paying off these gifts. Other top welfare state firms include Nike, GM, Fiat, Ford, etc. Cruise lines don’t pay. Trump’s various businesses don’t pay. He personally deducted almost $1 Billion in losses which were carried forward for years. Rich people don’t pay taxes since they claim their income is from outside America. Yet they take most of the bailout money we will be paying off for the next 100 years. The real wealth is held by private equity owners and they don’t pay.

Most firms pay NO taxes: https://www.amazon.com/Most-U-S-Corporations-Pay-NO-Taxes/dp/1514274116

Most of us know we need financial planning but …

A study shows most of us trust ourselves—not advisors—for financial advice. We are smart enough to realize advisors are in it for the money. They want to be rich, not right. Since advisors can’t be right all the time about falling markets and when and where to invest, we take our own advice. So are we all currently in a panic? Most of us are happy to have a job. We are not gamblers. So who is causing these daily swings? So called Wall Street gurus—money managers who earn in the $ millions from our fees, want to richer so they must trade every minute. They try to escape a falling market so they can ride the ‘upside.’ However, as Bogle, Buffett and other students of success have taught, there is only investing over time and gambling. It is the gamblers who create the volatility. Some win their bets and others lose; just as it has been for all time.

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

Why file your taxes by April 15?

If you have refund, waiting gets you nothing. Could the IRS run out of money? Could gov computers make a mistake after April 15 because they did not get the email about extension to July 15? Is it possible there will be big delays since all the IRS and check printers are out of the office now in virus lockout? Just to avoid all the bad stuff, file now. Check your state for deadline. The federal and state filing can cost you nothing at https://apps.irs.gov/app/freeFile/. Another site has no cost or restrictions: https://www.creditkarma.com/tax. And remember you can usually reduce income and thus tax by making a deductible contribution to your IRA. File now for refund: 90 day interest-free extension if you owe. https://www.irs.gov/pub/irs-drop/n-20-18.pdf

Filed already: refund status: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

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

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

Mobster son: the “federal” Strategic National Stockpile is “our stockpile,” His buildings 

NYC has to go to China for ventilators: Jared says federal ones are for “our stockpile”

Mobster has seized supply for his stockpile: gov stockpiles sitting in hidden warehouses

Genius Mobster decided: 'There will be a lot of death'

I still want football to start on time.

Real doctors don’t agree with Mob Boss prescribing malaria drug for all. $ Sanofi $

Mobster fires more watchdog inspector generals: he is “the only one that matters.”

Mob Boss fires the person responsible for stopping the bailout cheats

Trump Hotels Do Appear to Qualify for Coronavirus Bailout Benefits.

I could shoot someone or cancel Nov elections and not be accountable

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

10 M Job lost: Trump refuses to open ACA application process: death by bills: 1000 cuts

Oil company execs tell Trump: more bailout money since profits sink in oil glut.

Now you see them now you don’t: Gov hording masks or theft for resale to Red states

Congress on vacation during emergency: I’m laid off and can’t get health insurance

Congress could be writing law to fix 47,000 bridges about to collapse in every state.

Not a good Friday: GOP DEMs fight over helping states, hospitals, small biz. Politics

SCAMS/SPINS:

Testing sites may be scam: $250 for test may actually give you virus. Fake Medicaid claims. Jail?

Trump: cruise ships unload in FL: passengers fly home without testing/isolation: carriers?

Cardinal Health again involved in medical equipment failures: 60 Minutes caught them in 2016.

Immunity-boosting drugs are fake: only promoters healthier even QB Tom Brady sells snake-oil.

TX stayAThome except church, gun show, groceries, work, liquor, other ‘essentials’.

Twitter shuts 20,000 propaganda accounts: Maybe using twitter isn’t such a great idea

Trump GOP stifle accessible Nov 3 election; no easy voting. Dems outnumber GOP Fact

KY GOP outlaw DEMs vote: GOP to keep McConnell—but no history of ID fraud

WI Supremes bias for WI GOP: have election when DEMs are sick with C-19: Lines!

Gov lets robocallers scam us for another year: Ban signed last Jan has no enforcement.

Diets (except Med) benefits largely disappeared after 12 months. Lesser amounts works

Williams-Sonoma caught for deceptive ‘made in the USA’ claims fine $1 mil no jail

Which tweets are real: https://newslit.org/educators/sift/the-sift-conspiracy-outbreak-peril

Conservatives will do anything to stop abortions being available. And fair elections.

Fox’s Carlson admits: “When journalists work with numbers, there sometimes is an agenda.” Dead at home

‘Christian’ college sets arrest warrants for journalists who criticized it for reopening

China massive “wet markets” that sell live & dead animals for consumption reopen

Don’t listen to the Mobster’s lawyer Barr: you can get virus again: lawyers aren’t doctors

Jobs

Navy fires the truth-teller: whistleblower may have saved lives getting response quickly

Sailors do not need to die. If we do not act now we are failing to properly take care of our most trusted asset: our sailors

It is not smart to call a carrier commander ‘stupid’: His life is on the line not yours, Tom.

Funeral’s view of the future: think about it

Your self-employment business may qualify for forgivable loans too.

Lakers asking top execs to defer 20% of pay to avert layoffs: Every firm must follow lead

Boeing dumps 7,000 workers in SC plant after receiving $17 Billion from taxpayers

Apply small biz loan: https://www.mymoneyblog.com/bank-of-america-ppp-required-documentation.html

United Health to pay doctors/hospitals now, not normal 30 days: providers can focus on delivering needed care,”

Who owns your account now?

RMD from your account has been waived for 2020: no recoveries if already taken.

Insurers resist business-interruption coverage claims: loss due to virus excluded in some policies  

Student loan suspended payments and reducing interest to 0% through Sept. 30, 2020.

Get virus payment even if you don’t file: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Miracle:

Blood donors may save us: they survived C-19 and their blood may have answers

New drug may stop virus from duplicating: tests show possible antivirus pill

Why keeping your distance works: family wipeouts: 15 people infected 3 die 1 carrier

Truly the gods have blessed us: one man to ‘solve’ our problems arises from buildings.

Airlines forced to refund: CEOs can afford to take cut in pay.

GEICO, Allstate & American Family give back premium since no one is driving.

Court gets child abuser Cardinal out of jail: he wants ‘victim to suffer no more.’ Duh

My favorite: https://www.wizardingworld.com/collections/harry-potter-at-home

Church becomes hospital not virus-spreading center: pray like Jesus—alone.

DEMs all in for Joe but Cuomo looks stronger: virtual election loses HALF DEMs

Finally the city that never sleeps slept.  https://www.newyorker.com/culture/video-dept/new-york-citys-empty-streets

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Is your advisor asking the right questions?

Is your advisor asking all the right questions?

If you are near retirement, you are not going to know the answer to your retirement questions. How do you know you will have enough or if you will work in retirement or where will you live or have you moved all your old jobs’ 401ks to your money hub? Will you have paid off your credit cards, loans and mortgage or are you planning on carrying debt in retirement. Can you estimate all your income source amounts? Do you want to stay past official retirement age and can you downshift to less working hours? Do you use a balanced mutual fund or annuity to provide a fixed monthly income? How much of your nest egg will you give up for a fixed annuity for life, knowing you lose HALF your purchasing power every 20 years? You may be better off waiting until you are in retirement to pay for a real full-blown financial plan. Most advisors don’t have that experience. You are the only one who knows what you need.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Where can you find reliable ‘readable’ financial information?

The average readability score of the 60 sites of asset management firms analyzed was 37, (out of 100) which is the equivalent of requiring a college degree to easily understand communications, a new study said. The average American reads at an 8th-grade level, which is a score between 60 and 70 on a scale of 100. From this we conclude that the audience for these sites is not the average person but the high net worth folks who have money. The average American has little money to invest. Most are happy to match their contributions to a 401k or other employer plan. Further, the broker/advisor industry—the actual customer—does not want their clients to educate themselves. Vanguard had the highest readability score; Black Rock the lowest.

Educate yourself: https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook/dp/1088908500

Have enough money to live past age100?

The number of people living past age 100 is doubling. No one knows how long they will need living expenses but you need a plan. When you reach your full retirement age, you can work and earn as much as you want and still get your full Social Security benefit payment. When you reach full retirement age, SS will recalculate your benefit to give you credit for months you didn’t get a benefit because of your earnings. In addition, as long as you continue to work and receive benefits, SSA will check your record every year to see whether the extra earnings will increase your monthly benefit. SS uses your ‘highest’ earnings for 35 years so you could increase your benefits by working at higher incomes. If your benefits began at age 70 (the highest level possible) then each year the amount increases based upon the cost of living increases. ($1 coffee in 1979 costs $3.53 now.) You can invest in higher return stocks even in your 60s and 70s since you won’t need that money until your 90s or 100s.

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

What happens to you when your advisor’s firm gets bought out?

You may become just a number. Despite all the assurances they provide, firms with cash are buying more firm’s clients to make even more. They are buying your quarterly fees which go up in a rising market no matter what your advisor does or doesn’t do. In fact you may have to pay higher fees and/or buy more products to stay. You may get a new person to ‘handle’ your account. It may be time to reconsider if a high-cost advisory service is really what you need. Today, you can buy money management that earns more since it costs less. You can buy a full retirement and estate plan for a set one-time fee. Both of these options are being picked by those who have tested advisor management and self-management. Some have made the change for more control and more earnings. Some advisors may think they are helping you by offering more services. But if you don’t need them, you are not going to be serviced at the same level. Like every industry, bigger and better is not always better for YOU.

Let Buffett be your advisor: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Notice: new cars cost more

The average car loan for both new and used cars continues to rise, to more than $32,000 for a new car and just over $20,000 for a used car, Experian found. Since I have never bought a ‘new’ car, I had no idea that the ones in my parking lot are probably over $50K. People with average incomes are going to the used car lots more often. Today, 3 year olds are usually in better shape than in the past. Car brands that have a history of 200K mileage are made better so you can find a great bargain. Car shoppers could save more than $14,000, on average, by buying a three-year-old car instead of its new equivalent. Experian said the average monthly used-car payment was $392. If your credit is poor, try using a larger down payment so you are not paying interest till 2028. I shopped for my used Camry using 3 online sellers with specific attention to the dealer’s rating. I did not want to travel 60 miles to find that the seller didn’t actually have the one advertised. I used Guru, Edmund and Kelly. Then I checked the dealer reviews.

I saved on new insurance too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Vanguard to offer digital financial planner

Vanguard is offering financial planning and investment management for just a couple tenths of a percentage point of assets under management. It assesses clients’ risk characteristics; it exercises discretionary management over assets (including halting trading in cases of “an undue risk of harm”); and, perhaps most importantly, it includes goal forecasting. Digital Advisor is built on long-term, goal-based investing. Goals are currently limited to saving for retirement, but in the future will include “personalized financial goals.” It will also assess the feasibility of meeting financial goals using assets or accounts that Digital Advisor does not manage—the caveat being that since it is not managing those assets, it cannot increase the likelihood of success for those goals. Investors only need $3,000 to open an account and advisory fees are set at 0.20% of assets, charged annually and calculated quarterly, for managed retail accounts. There is also a 401(k) option for Digital Advisor, with a $5 minimum to enroll if the service is supported by the investor’s plan sponsor.

Time to replace your high-cost advisor? https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

‘Professional’ money managers fall behind your index fund

New study shows that the most highly paid ‘institutional’ managers are doing worse than your simple market index fund. Fees and poor trading strategies are the reason. Institutional large-cap managers underperformed their passive benchmarks 85% of the time over the same 10-year period. Looking down the market capitalization spectrum, institutional managers fared even worse. Active mid-cap managers underperformed their passive benchmark at an 88% clip during the decade, while small-cap managers underperformed more than 85% of the time, net of fees. The results suggest that even with the purported higher overall quality and lower fees of institutional funds, active managers struggle to beat their passive indexes across most fund categories, particularly in equities. This confirms the scorecard kept by Dalbar: average ‘managed’ account return was 3.79% vs 11% for your index fund.

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

**********

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Just like his ‘middle-class tax break,’ Trump’s ‘rebuilding’ community’s helps only rich

Tariffs cost each of us $1,000: wiped out the $600 tax cut last year.

Farmer Socialism can hurt our capitalist nation: soon everyone will want free money!

Trump wants war again: he’s “locked and loaded” but never served; now wait

2 former govt aides subpoenaed: They didn't show up. No arrest No fine No jail

Govt failed to protect 400,000 of us: opioid drug overdoses since 1999: No drug arrests.

Trump condemns CA residents to more smog: ends right to set own fumes limit.

How Trump can violate your 5^th Amendment rights to own land

SCAMS/SPINS:

Do any Sackler family go to jail for killing 10-50,000 a year? ‘None admit wrongdoing’!

Admission of guilt: Sacklers sent $1 BILLION to CH avoid paying for their killings

Fake Apple Support calls: scam for icloud data

Now chicken linked to cancer: air, meat, chicken, water, vegs, booze: nothing healthy?

Equifax did not prevent breach of our data but now wants us to prove we bought monitor

General Nutrition Centers (GNC) caught promoting “phantom markdowns” on its site.

Electric cars will pay MORE gas tax since use less gas

Wayfair, online home goods, caught exaggerated savings and misleading price claims

TV show ‘deals’ pays TV to hype stuff: ‘promotional consideration’ is kickback.

Zantac may not be healthy: FDA checking cancer links AFTER approval

Hackers stole $4.2 million from pension for retired Oklahoma Highway Patrol troopers   

Your ‘weed’ may give you extra kick: toxic pesticides

SEC finds more advisors trying to rip-of customers: high cost share class and 12b-1 fees.

JPMorgan caught letting advisors slide on fraud, stealing, forgery, lying, etc to customers

Dean McDermott caught defrauding: charging improper transaction costs

Morgan Stanley caught selling swaps providing no apparent economic benefit to client 

Safeway AonHewitt caught charging 401k employees excessive fees: ruined retirements

JPMorgan Chase caught running futures market racketeering conspiracy; investors hurt!

Raymond James caught advisory fees on inactive accounts; charged excess commissions

Mediatrix caught stealing $35 million Ponzi: high returns no loss with algorithmic trading

Prudential caught failed to disclose conflicts of interest and made misleading disclosures 

Kevin Merrill, Jay Ledford, Cameron Jezierski caught Ponzi scheme 230 investors: ban

MyPayrollHR caught stealing $35 million in payroll from companies: went into clouds!

Jay Daniel Seinfeld caught stealing from terminally ill and dead with lies for signature

Check consumer complaints before you give anyone your money

Bank windfall: end of protection from another 2008 bank meltdown: $40B bonus!

GOP to give $1.1 billion to military to make them ‘ready’ to fight: Already ‘ready’?!

Navy admits there are hundreds of UFO in the sky: so what? We’ve always seen them

Jobs

AZ Family farms die: corporate farms take all the water down to 1,000 feet.

TX Toyota truck plant gets boost: $391 million

$240,447 average comp for your experienced CFP advisor with commissions

Right Social Security decision gets your family $821,000 in life

Who owns your account now?

Some insurers make claim payments to VISA cards for faster service. ‘Best’ insurers rank

Where are your drugs the LEAST expensive? You can save 100-200% by shopping.

Our pensions at risk after many bought assets without knowing the risks: Chasing yields!

Mortgage re-fi time: fed rate lower may make it worthwhile even with closing costs.

Miracle:

Shopping for funeral? Internet lets you compare prices: Few tell all—Surprise!

Hundreds of working people donated enough $1s to save a forest/falls from development

Greta Thunberg to Barack Obama: 'No one is too small to have an impact'

Colt will suspend production of AR-15 rifles: ‘too many’ in the market now

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

How much do lower fees really help us reach our goals?

How much do lower fees really help us reach our goals?

Vanguard just lowered the minimum for us to qualify for lower fees on funds. Many brokerage firms are cutting fees. Does a low fee really matter over the life of a retirement fund? The comparison is simple: $250 a month $3,000 a year for 34 years at the average earnings of the S&P 500 index (11.06%) is $1.1 million. We pay .04% so we net about 11% a year on average. If we deduct 1% from our earnings, we have only $863,483 or $247,517 less. That is 22% less. If you let your advisor manage your account, you earn only 3.79% for 34 years according to Dalbar’s survey of actual investors. That means the trading and market timing will cost you $902,930: $1.1 million (you could have earned) minus $208,070 (your earnings). Will you drop your advisor in order to make more money for retirement? We follow Buffett’s advice.

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

Are small business deductions right for you?

Many Americans are turning to creating a business out of their part time and sometime work schedule in order to help their family survive the increasing costs of living. Wages have been flat since the 1980s for many middle-income workers and it makes sense to pay as little tax as possible. A quarter of workers make less than $10 an hour, putting them below the federal poverty line. Meanwhile the top 1% owns 40% of our country’s wealth. Following The Leader’s example, many are able to actually reduce their regular W-2 income for tax purposes. The GOP has provided another incentive: an extra 20% deduction from net profits. Just follow the deductions here:

https://smallbiztrends.com/2016/02/top-tax-deductions-for-small-business.html. A special for Uber/Lyft drivers is deducting the ‘snacks’ you provide in your car. After you take all these legal biz deductions, take another 20% when you qualify. You may not be able to reduce all your income to negative for years, like The Leader, but at least you can add income without more taxes.

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

Why are we subsidizing GM? Trump threatens to cut subsidies to GM

Is America a Socialist country? When our tax dollars are paying a private company to make a profit, How is that different than in China, Russia or Cuba? How much of our tax dollars are going to GM and other corporations so their CEOs can receive multimillion paychecks? And some profitable corps don’t pay taxes—even with the tax cuts! How socialist is that? They receive subsidies and don’t pay taxes and yet buy expensive planes and toys for their CEOs. Sounds like a ‘welfare queen’ to me.

Avoid paying their subsidies: https://www.amazon.com/Americas-Socialism-for-Rich-little-people/dp/1535218584

Do you need a REAL middle-income tax break?

The REAL tax break from the GOP and Trump is the removal of the income cap on conversions from traditional IRAs to Roth IRAs. The 1.6% income increase for the average household earning $50,000 to $75,000 has been eaten up by tariffs and health care costs. Compare the $thousands you save in taxes during retirement when most of your income is tax-FREE and you no longer have to take taxable RMDs from your IRAs. For many, the elimination of tax on IRA distributions means their income can continue to grow after 70 ½ AND they will pay less tax or nothing on their SS benefits.

Keep your taxes low for life: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

NY requires insurance agents to give us the best deal ‘fiduciary duty’

The New York Department of Financial Services issued a final regulation in July that is set to go into effect in August 2019. The rule requires that "only the interests of the consumer" be taken into account when making an insurance sales pitch, and compensation to the agent or broker is only permitted if it "does not influence the recommendation." "Thus, this regulation effectively requires the agent to become a fiduciary to the consumer." Agents and their association claim they can’t make a living since they are acting for insurers, not us. But insurers know the fiduciary rule is best for the industry long-term and also know agents will continue to sell their products including high-cost annuities.

BEWARE high fees: https://www.amazon.com/Fiduciary-Rule-BEST-dont-overpay-anymore/dp/1530980275

Corporate management uses life insurance to avoid taxes

Insurers sell a special policy that works tax miracles for business owners. Their corporation makes contributions to the plan.  Rank and file employees do not get any benefits. The contributions are tax deductions to the corporation. The contributions go to fund life insurance whose beneficiaries are designated by the owners. The principals are able to access the cash surrender value of the insurance contracts tax free. The beneficiaries do not recognize any income. Perfect scam: owners pay less tax and get life insurance benefits for free. CSV can be security for purchases and loans.

Use the Trump Tax Shelter:  https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

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

Make America, “The Don”, Great Again

Senile Psychosis

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

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

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

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

“Our debt rose $2 trillion under Trump: total $21.7 trillion.” 10% in just 2 yrs.

We are building more concentration camps for children/teens using unchecked guards.

SCAMS/SPINS:

DO NOT READ this report: Trump does not want you to read his report--future climate.

“Trump Foundation functioned … as checkbook for business/political interests.”A crime.

Public hanging supporter gets endorsed by The Leader. MS voters go for racist again.

Trump’s child separation plan may be America’s 2^nd worst crime against humanity. Nazis

Trump’s army used pepper gas on the woman/children: ‘you could put it on your nachos’

“If they have to, they’re going to use lethal force,” Trump told reporters

Trump thinks he is too smart to believe in science of CO2 and ocean levels at MarLargo.

Trump’s bank raided by police for money laundering: Find the hidden Trump ledger?

TrumpCare junk insurance will bankrupt us again. This was story before ObamaCare.

Trump lawyers talking pardon for confessed criminal Manafort --Don says not involved

Is one emotionally distressed man’s gut leading America into oblivion?

BEWARE: Genetic testing result not always mean what it says

Family & Relatives at risk in nursing home when businessmen buy it. Profits for bedsores

2 scientists claim just one “Adam and Eve” started life. Pigeons & humans same DNA.

David Fagenson caught making unsuitable trades for seniors: huge profits

Scott Newsholme NJ caught forging signatures & tax returns gets 8.5 years jail.

Frank Dietrich caught selling notes in real estate Ponzi scheme loses license.

James Polese MA caught taking client money in wind farm fraud gets 5 years jail.

Raimundo Atesiano Police Chief got his men to frame innocent people got 3 years jail.

Eric Landis VA caught promising microcap promotion scheme by pump/dump trades.

Payless shoes proves we are gullible buyers of hype just like financial services.

Bernard Ogon MD HealthRight caught selling bad pain cream/supplements for $7,600.

BEWARE: New ‘car’ buyers—GM, Ford Fiat may not support CARS in future.

When everyone has a gun, how do police know who to shoot? Target: gun & black man

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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.

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Jobs:

Tulsa will pay you $10,000 to work there. Bring computer!

GM closes 5 plants: few cars to produce—15% of salaried workers.

Make a fortune selling the RED Melania Christmas trees at the mall! Tax dollar at work.

Who owns your account now?

Over 40% of voters said healthcare was the top issue ahead of immigration and economy.

Always appeal your health care treatment denial—Insurers don’t like paying claims.

Miracle:

Vaccine for Alzheimer’s?  Trials offer promise.

Two officers refused Chief’s orders to frame innocent people were heroes

Muslim Americans raise $240k for victims of synagogue shooting

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Where is your old pension and 401k?

Do you know where your former company pension or 401k landed?

I found mine; no thanks to those who were making money from my money. Many people forget they have a pension or life insurance from an old firm. The company may have been purchased or merged or gone bankrupt. If your old firm does not have your current address you will not know where your money lands. Deborah kept looking despite the bad information she was given. Whatever circumstances, there are no standard practices or central registry for your money’s location. Some companies are just not interested in helping you. Pension rights advocates claim employers have an incentive NOT to find missing participants like Deborah. Like MetLife, they may be caught holding the money for life insurance beneficiaries because they make millions from holding our money. I had to fight to obtain my pension from Thomson McKinnon which did a chapter 11 in 1990. Since there is no national registry yet (and may never be), I started at the https://www.dol.gov/agencies/ebsa and the https://www.pbgc.gov/ and went to the bankruptcy filings and lawyers. Finally, online records turned up the fact that John Hancock had it all this time without telling me. And I had not moved. They just didn’t let me know they held my money. You know why.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

When should you NOT convert a regular IRA to Roth IRA?

Ed Slott is the expert on IRA and Roth IRA. He is a fan of Roths because distributions are tax-FREE from fed and state income taxes and there are no mandatory withdrawals like regular IRAs. You can convert an IRA to a Roth, pay the tax and then smile in retirement when there is NO tax to pay. Slott says there times when this conversion makes little sense. For instance, if you can’t pay the tax from other funds or your rate is lower later. His full advice is here https://www.fa-mag.com/news/when-roths-may-not-be-right-39880.html. If you can’t convert, build your Roth IRA while you are working.

Know your IRA required minimum distributions in advance: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Is your advisor/broker working for you or for the perks?

Under current rules, your advisor can sell you products that are NOT the ‘best’ for you—your money would be taken and you won’t even know it until later. There is no ethical pledge like lawyers or doctors take to do no harm. Trump’s regulator at the SEC makes the rules. He doesn’t ban sales quotas, fee hidding or lavish trips for sales of poor in-house products. Formal disclosures protect the seller and industry; not educate the buyer. When you get taken, you don’t have the right to sue. Unfortunately, you must ask the industry-run arbitrator to decide your case and if you win your odds of collecting are lower than with a court order. Sellers who cheat people are not barred—they just move to a new firm. After the industry killed the Labor Department’s Fiduciary Rule last year, advisors have the green light to take you since they hold all the cards. Even the ‘top broker’ at well-known firms have cheated clients and just moved on to a new firm.

Protect your money BEFORE you act: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

New ways the wealthy avoid taxes that we have to pay for them

The Trump tax breaks did not reduce the amount the well off can deduct from their taxes. The rich get richer. We have to pay for the courts, police, military, roads, airports, etc. the rich use but don’t pay for. We taxpayers help pay for the vacation and rental properties of the rich. Instead of paying their gains tax on the sale of these non-principal residences, Trump and the GOP have made the gains tax-FREE. Any properties they don’t use themselves can even offset any taxable regular income so they may pay less than we would with the same income. So you probably could rent their homes at high rent but they may avoid taxes on that income and the sale of that home when they sell it. Nice!

You can have a Trump tax shelter too: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Are actively-managed funds right for you?

Mutual fund manager costs usually sink their long-term investment returns. Studies of performance over time show that out of the thousands of funds, there will always be some that beat the index fund in the short term. However, over time it is clear that costs kill the returns because of fee compounding. In fact, with expenses of 2% over our working lives of 40-50 years, we will give up 63% of our total potential nest egg. That is a big price to pay for a quick thrill of beating the index in one year. However, for the advertising department of an actively-managed fund group, one year of good returns is worth $ millions of new money for profits over the next 10 years. For those looking for the best-performing actively managed mutual funds, here is the list. But by next year, they will be dogs according to studies on longevity. Low cost beat high cost over time.

For most of your money, go long: https://www.amazon.com/Go-Long-Reach-Wealth-Starting/dp/1519376189

Is America a wealthy-person socialist state already?

Trump’s socialist gift of $12 billion to the lucky few was done without consulting Congress or taxpayers. Farmers are not poor. Most are very wealthy—farmland costs a bundle and many have become tax-FREE corporations. Farmers already have a socialist’s bonanza from us taxpayers. Do you receive a Price Loss Coverage payment when you can’t sell your business products profitably? Farm corps do. Trump shows another way socialism works for the rich. Trump voters don’t mind a short-term tariff war as long as they have their government socialist state payments. Same with his friends in oil, gas, sugar etc who have multiple war chests of subsidies, loans and grants to tide them over from tariffs. Just ask the Congress people who double dip—salary, expenses plus grants, subsidies and kickbacks. It is us poor taxpayers that need the subsidy for tariffs since we are the ones that pay for them. When we shop at Walmart etc we usually buy Chinese. Most of Trump’s new tax breaks go to the already rich. I have documented some of them in this blog. Our lower payroll tax was offset by higher health care costs with the end of ObamaCare. Ranchers no longer pay public land rental fees. Did you receive government money in the 2007-8 recession Your bank got your future money. Your car company got government help when you lost your house. You didn’t. Trump decided to give his friends a cut in their capital-gains tax.

Use your tax shelter: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584

Is a dependable vehicle right for you?
Most people say they need a reliable mode of transport—the average family spends over $9,000 a year. I’m guessing it is so high because they are paying off a new vehicle—popular trucks and SUVs begin at $35,000. Buying a low mileage version of your favorite may just save you $ thousands for other things. If you drive a lot, maybe a Prius at $16,000 is a good bargain. Oil is not going down. A 2015 Highlander can be had for $23,000 or a Sante Fe for $17,000. My favorite is the 2015 Accord for $17,000.

Don’t forget discounts on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Opioid epidemic was created by drug companies and Washington lets it go on

Doctors are rewarded with trips for getting people hooked. Particularly grotesque is the enthusiasm with which Purdue Pharma peddled its pills, a 10 year veteran reporter writes. “In the first five years OxyContin was on the market, total bonuses for the company’s sales staff grew from $1 million to $40 million. Zealous reps could earn quarterly bonuses as high as $100,000, one former salesperson told reporter Macy, adding, ‘It behooved them to have the pill mills writing high doses.’” To fight withdrawal pain, Oxy users switched to heroin and later fentanyl. Parents of the victims gain support with national networks like this one. 16 states have filed suit against the pharma industry. Drug makers spend more than any lobby so Congress does nothing. Money talks.

https://www.amazon.com/Dopesick-Dealers-Doctors-Company-Addicted-ebook/dp/B078D67JCF

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Make America, “The Don”, Great Again

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

Conspiracy against the United States, conspiracy to launder money, conspiracy to receive Emoluments from foreign states, false statements, subverting constitutional tax power, obstructing justice, failure to secure voting systems from attacks, and Foundation self-dealing.

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

Trump mob running Veterans Admin from his golf club

‘Space Force’ $ Trillions gimmick replaces American ‘infrastructure’ rebuild: bridges?

SCAMS/SPINS:

Lobbyists tell Trump’s Commerce which firms will beat tariffs: have you been chosen?

Karl Rove: ‘Tone Down the Rhetoric’: Stalin Used ‘Enemy of the People’ for media too.

1 Global Capital and 1 West Capital caught selling fraudulent loans to investors

Westminster Financial Securities refused to pay arbitrator’s settlement $275K to client

GOP Chris Collins NY caught making money from info we don’t have. Others too.

IRS says 20% tax break only for the chosen few: Trump’s gift that keeps on giving.

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

               police shoot owner who already shot intruder. All kids have plastic killer guns?

Jobs:

Our wage buying power is the same as we had in 1974: Milk was 55 cents; now $3.50.

New job search? Check your credit report BEFORE your new employer does.

Who owns your account now?

Trump health plans get booed by state health regulators: misleading, limit payouts!

GM health cover switched to GM HMO cuts costs; limits choice.

Health insurance and drug firms spend $ millions to end single payer health care for all.

GE Genworth long-term care premium up 58%; approved by states

SS benefits could be higher for survivor if timing right.

Beware: When you sign up for Uber they hit your account for $250 or more ‘temporarily’

Samsung 7 is being hacked.

                                                  

Miracle:

First Lady cites good work by person Trump dislikes & envies: She’s brave to talk back?

Kids suing US for making the climate worse.

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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