Are your 401k 403b plan costs fair?

 Are your 401k 403b plan costs fair?

It is your money and you are trusting in your employer to handle your cash well. More employers are being sued because their plan costs too much, is run poorly, or has no unbiased educational component. Over time, “that little 2 percent fee will erode 63 percent of what you would have had.” Some plans provide benefits to your employer hidden from you. For instance, Wells Fargo was caught charging employees more for Fargo stock than was available from the market. Some plans are so expensive; your nest egg is not growing as fast as it could be. And some plans offer biased information about investment options that favor the boss’s investment advisors. Kickbacks are common. The best plans don’t cost a lot, provide fair options and provide fiduciary compliant help to you not your employer. Some large mutual fund complexes offer small employers the tools to establish a great plan. If your employer is matching your contributions, that’s great. If there is no match, you can do better on your own. Use a long-term tax-FREE account so that every dollar you invest works for you not your employer or their (employers chose the plan investment advisors and administrator). They take their cut BEFORE gains get to your account. Usually they do not disclose the amount it costs you. 

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

 

How our representatives get rich using our insider information

Congress folks, who are supposed to do right by us, take advantage of secret meetings and information only they have to get and stay rich. They are above the law that makes insider information a crime if we do it. Martha Stewart went to prison for it. Congress gets more money for doing it. 97 lawmakers or their family members bought or sold financial assets over a three-year span in industries that could be affected by their legislative committee work. The most recent case: Sen. Richard Burr, R-N.C., told his broker to sell off more than a million dollars in stock because Covid would tank the markets. Burr called his brother-in-law, Gerald Fauth, who then sold off almost $160,000 in stock. Yes, you can work hard to pay Burr’s salary but you will never get this kind of deal. Congress makes the rule that allows them to trade on insider info but also the law that says you can’t. Getting rich the insider way, in Congress has been a long-time tradition since 1776. However ‘leading by moral corruption’ should not be the way of Congress people. And we have to pay their salary and Burr’s gains from our market losses. Just like in Russia, it’s socialism for the elites.

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

 

Study shows we don’t like inflation or market volatility

Gen Xers resist the idea of using a financial advisor. Forty-six percent of these investors said they prefer to have full control over their investment decisions, and 41% did not trust that financial advisors have their best interest in mind. Advisors do have a conflict of interest. Living off an annual fee of 1-2% plus taxes caused by frequent trading, advisors have a difficult time explaining why you pay fees on falling account balances. Despite the caution that you can lose money in any market, we don’t keep our eyes on the long-term rise in equity prices and dividends. It is hard to remember the trend of assets over time as show in this chart from Dalbar. Low-cost stock index funds reflect the fact that equities return over 11% per year on average. As one analyst said: for long-term investors this is certainly the time to accumulate.” Money management can take up to 63 percent of what you would have had. As Vanguard founder John Bogle puts it, “the tyranny of compounding costs” is overwhelming. Advisors take our money. The Dalbar data show that the average investor keeps only 3.79% after fees, trading, market timing errors.

Buy stocks not advisors. https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

What kinds of fees do you pay to your advisors?

You may be paying an annual percentage fee. If your account is $500,000, you pay 1-2% ($10,000) a year, taken quarterly. Advisor says: ‘There is no front-end charge or back-end load that needs to be amortized. You have flexibility.’ In other words you can trade to your heart’s content even though that creates taxes for you. You may like to have fees spelled out in advance. Securities have commissions and some have mark ups or spreads or ‘hair cuts’. Over time, “that little 2 percent fee will erode 63 percent of what you would have had.” You are paying retail not wholesale so you may never know how much your transactions cost. Brokerage firms charge ATM fees and advisors say your 1-2% annual fee is less than your ATM single transaction fee. Advisors claim your 1-2% annual fee covers all the no cost advice you receive all year. However, if you call for advice too often, you will find the advisor will stop returning your calls. They may give your account to another person. Every firm has their own charge schedule so always ask for the cost before you consult your advisor. Your alternative is to use low-cost leader Vanguard, whose funds are owned by its investors—no private owner.

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

 

Your alternative to life insurance

Most folks want to leave something to their family: a legacy. Life insurance pays a benefit to beneficiaries at death. Life insurance for most families is necessary during formative years. It provides income to family left penniless if the breadwinner dies suddenly. However, times change and fewer single breadwinners die young. Today term insurance may be provided by your employer. Today, many families have two working adults. Many have mutual fund retirement plans from employers. Even if your employer does not offer a retirement plan, you can create your own. Your mutual funds or brokerage account can pass to your beneficiaries just like life insurance. Unlike insurance, you don’t have to die to redirect your money for emergencies. Since Social Security does not cover everything in retirement, you may need your ‘legacy’ money to live on. Like life insurance, your legacy can go to heirs without going through a will’s probate process. Your family may collect in lump sum within a month or they can use an annuity-type monthly payment. You decide how to spend your money to the end.

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

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

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

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

“I don’t f—ing care that they have weapons”

 

Trump was “detached from reality”

 

Trump used mafia-style intimidation on the defenseless

 

Parscale: “a sitting president asking for civil war.”

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta: Two Americas

 

Trump: President Biden is 'enemy of the state'

 

 

Nov 8 2022 Trump’s “national revolution”

 

Jan 2025 Dictator pardons himself

 

How Govt wastes our money:

FL judge says Trump case against Hillary: “such pleadings waste judicial resources”

GOP leaders to pick electors not voters: GOP to outlaw state courts district decisions

Christian nationalism: TX judge cuts employer-sponsored insurance for preventions

 

Trump’s master can kill stolen-secrets investigation: “special rules” bec powerful person

Trump got Barr to fire Fed prosecutor Berman: eliminates threat to 2020 reelection

Trump may have already sold/traded top secrets he stole: 20 months to make a deal.

 

TX Attorney General sued for prosecuting anyone assisting choice folks

97 lawmakers/family traded assets on info affected by their legislative committee work.

IRS program to capture hidden wealthy taxes of $6.5 billion squashed by Congress

IRS is refunding a staggering $1.2 billion in late filing fees: your share of debt $145,191

 

 

Navy still claims UFO videos not available bec “national security”: our spaceship secret?

 

SCAMS/SPINS:

Police chiefs now claim never signed up for terrorist group: “friend signed” him up

17 Trump lawyers now subject to ethics violations: no pay and possibly disbarred

Eric Trump: “nobody has done more for Christianity” freedom: Let’s tell Jesus

Politicians destroying Jesus message for voter attention: versions of hate not love

 

POLL: 31% believe U.S. could be invaded by a foreign power in the next decade. 

Giuliani: September 11, 2001 being the “greatest day” of his life. Defending Trump 2^nd

"constitutional sheriffs" are taking sides: Trump’s ‘Big lie’ spread by public officials

CA sheriff gives you a gun for donation: donors trade money for LA packing license

 

Another Trump terrorist goes to jail for a couple of months: Robert Keith Packer

30+ Trumpists behind failed coup got subpoenas this week: “quiet period” starts soon

Trump apologist explains the crimes Trump committed … so far: selling gov secrets

NY prosecutor may go after Trump’s family to resolve fraud charges: like mob cases

 

Instagram caught failing to protect children’s data: fine by Ireland

Navient caught failed to steer teachers with student loans to loan-forgiveness programs.

Scott Adam Brander caught cherry picking trades give clients losers; fine, no jail

Marc Frankel CA caught with stolen funds for personal expenses: discretionary rights

Ambassador Advisors caught breaching fiduciary duties: receipt of 12b-1 fee revenue.

 

SCAM: thieves use your Facebook info to get your friends to fall for ‘government grant’

SCAM: gas prices down 25%: did Exxon, Saudis, find oil? Ukraine beat Russia? Fraud!

SCAM: some nursing homes charge people who signed admissions: it’s not your debt

Scams are showing up at the top of online searches: never click the link: go directly

 

SCAM: fraud alert from your bank about unusual activity: call from ‘bank’: use Zelle.

 

SCAM: avoid being gouged when you’re most vulnerable: a funeral of loved one

Wells Fargo caught overcharging employee plan for company stock. Fine, no jail 

Avoid overpaying for senior dental care: Medicare alternatives

IRS letter: don’t ignore; read and respond: IRS doesn’t call or text so hacker?

 

BEWARE: Auto-drive cars & AI systems are trained by biased whites blind to non white 

Two Americas: St. Louis’ Private Police: Security for the Rich

Rape victim gets prison sentence for fighting and killing her rapist: $150K to rapist estate

 

GOP to make women’s choice a national crime: national ban on women’s health clinics

 

Jobs

10 jobs recovered from pandemic

FL school children getting lessons in Ooh Ra language: Florida turns to military veterans

King hides out in a Transylvanian cottage: fixer upper bought ’98; Camilla secret meet  

 

Good jobs that don’t require a college degree: fly, manage, meet, talk

Avoiding the job scams that have robbed us of $68 million YTD

 

Who owns your account now?

Cruise ship experience vs expectations: BEWARE, you need many dollars for fantasy.

Best prepaid phone plans: $10 a month, $120 year,

Social Security cost-of-living adjustment, or COLA, for 2023 could be 8.7%,

 

IBM purchased annuities to transfer a total of $16 billion in U.S. pensions

Can’t read your car’s manual: Stellantis owns Chrysler, Fiat, Jeep, Ram, Peugeot, Citroën

 

Miracles:

Galleri blood test finds cancers; could detect pancreatic, colorectal cancers 50 more

British monarchy’s reign over the colonies may end with new sovereign: change

More states have exempting military retirement pay from state income tax liability

 

Jurassic dinosaur fossil will go up for auction in Paris: buy $½ million plus

A kindness list: small random acts of kindness keep us sane and human

Some Nuns and Bishops Are Taking on the U.S.'s Biggest Gunmaker.

 

Insurers force change on police departments long resistant to it: killing is expensive

Special benefits during Covid helped lower child poverty rate to 5.2% lowest on record. 

Wow victim must pay attacker estate $150K: folks donated $400,000 to help her out

 

CA condor is back from near extinction: 130 year return program

 

 

@

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

I don’t think that there is any such thing as a position or a velocity of a particle.

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

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

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

There is no TIME at this level because of force fields come and go in all directions. 

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

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

The electricity we use comes from the field around the wire not from election itself.

 

 

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/

 

Avoid extra fees when you move your 401k or 403b

 

What should your retirement plan include?

My readers have told me what they covered in their plan. Most did a plan by themselves with help from resources available online. Some hired a financial planner to do a written projection of their anticipated income and expenses. This required pulling together all the documents about their financial assets, projected pension, SS benefits, and expenses. First, they discussed where they would live and the costs. Second, providing 2 budgets—one for the couple and one for the survivor. Third, they identified where emergency funds would come from. Fourth, they decided how much market volatility they could stand and how long their money would last. Some used a calculator to estimate their probability of having enough for 30 years of income given a 50-50 equity/fixed split and normal inflation effects. Fifth, they considered the costs/benefits of a long-term health care policy for both—single and joint coverage. Generally, they overestimate market volatility and thus reduce equity exposure early. This leads to a shortfall as folks usually live longer than their parents. You can’t live—really live—without a plan.

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

 

This is how the rich evade paying taxes so we go farther in national debt

Tax lawyers are not cheap but a $1 million fee is nothing compared with saving them $200 million. The IRS has no auditors smart enough to crack the lawyers’ techniques of hiding wealthy money in the foreigners’ accounts they use. Yachts are great for hiding  expensive art and gold since IRS does not seize them in foreign waters. Rich people have a lot of clout in society so prosecutors and judges need a perfect case before setting up a trial. Also witnesses get afraid and evidence gets lost. Sounds just like a mob case. Few of the smart lawyers go to jail and the rich folks like Mr Smith just make a deal with the IRS to pay 50 cents on the dollar owed. They don’t give up their money or go to jail: “Too big to fail” just like their corporate interests. The lawyer motto is ‘delay delay delay’ since the circumstances, prosecutors and presidents change. Will justice ever come for us lowly taxpayers stuck with the bulging national debt? We have one alternative: a working person’s tax haven. This account, §408A was created by the IRS so that working people could have tax-FREE retirement income. It is available through any financial institution and operates like a ‘tax haven’ without the expense of an overseas trust.

https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

 

Workers getting paid less need help

This survey asked workers what they need to succeed. Schools and employers should help workers learn financial basics: savings, debt, interest and investment. Too often we get deep in debt with our first job. Unless parents have learned the hard knocks of debt control and investing, young people never get the basics right. Many have no checking account to budget for their expenses. Few learn of the incentives to invest and compound their earnings over time. If their wages remain stagnant, there is no way to save after food, rent, and transport are paid. Subsidies for those in crisis are not easily acquired. Health care is considered a luxury in America: get sick or hurt in accident and most of us are on our own. Health care is a for-profit industry not a service to help the unlucky. The industry that can help with money matters is also a for-profit one that relies on us paying life-long commissions and charges. The lack of a living wage for the average middle-class family has condemned the bottom 80% wage-earners to a life-long struggle. Since the 1970s, the bulk of profits in American corporations has gone to senior management. Most of the wealthy have found ways to avoid paying their fair share of taxes to maintain a healthy society. Our Reps pay subsidies to companies to keep them from moving.

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

 

Avoid extra fees when you move your 401k or 403b

Many retirees have been tricked into rolling their employer plan into a high-fee IRA. Retirees avoid a huge tax bill when they trustee-trustee transfer not receive/rollover their qualified employer plan account into an IRA. Few employers provide the correct information about moving your account when you retire. Some employers may feel they can’t provide the information because of the liability if you make a mistake. Pre-retirees may be told to go to a financial advisor for help. The problem is that advisors are not unbiased info givers. They make money handling your money and they are not going to give you the best way to move your valuable nest egg. In many situations, advisors stand to make $hundreds of thousands by establishing your account in a certain way. The IRA offered by their firm may have high annual fees and the firm will add more fees depending on the types of assets your advisor puts your money into. Thus your annual account costs in your old plan might have been 0.50% and your new costs might be 2% all in. Over the 30 or so years in retirement you may be giving away $380,000 ($464,000 from 2% net earnings vs $844,000 from 4% earnings). The best way is to have the trustee at a low-cost mutual fund do the transfer directly. Avoid the middle-person markup.

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

 

Are single-stock ETF offers right for you?

“So I think we’re gonna see ETF issuers blanket the market with all varieties of these ETFs: leverage, inverse, options overlays, you name it.” At least 85 more such ETFs are currently planned, according to filings tracked by Bloomberg, covering some 37 companies. There will be more high-cost (1.15%) products. With a never-ending fee war taking costs on index-tracking ETFs to rock-bottom levels, the arrival of single-stock products opens up a lucrative avenue for issuers, with leveraged or inverse trades tracking major companies up for grabs. Most investors will not understand what goes into their ‘gobbledygook’ security. The regulator’s concern is greater risk for investors and the markets. “Investors’ returns over a longer period of time might be significantly lower than they would expect based on the performance of the underlying stock.” Complex products need to be reviewed by the SEC before their use becomes common for retail sales. Investors who wish to risk leverage can do so on their own now at less cost.

https://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

 

 

 

 

 

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

 

 

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

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

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

 

Nov 21 2020: Trump plan: US Marshals seize voting machines

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Trump engaged in a "criminal conspiracy" to stop Biden

 

“I don’t f—ing care that they have weapons”

 

Trump “detached from reality”

 

Trump used mafia intimidation on the defenseless

 

Parscale: “a sitting president asking for civil war.”

 

Trump: “Just say the election was corrupt and leave the rest to me” 

 

GOP fascism: “RINO hunt armed; no bagging limit” J6 comm threat

 

Trump’s Supremes END personal rights & state laws except for weapons WMDs

 

Fascism: GOP to stop women leaving state for abortion

 

It’s not a court. It’s a junta: Two Americas

 

 

Nov 8 2022 Trump’s “national revolution”

 

 

 

How Govt wastes our money:

Congress to vote on banning WMD weapons of mass destruction: kill 30 with one spray

Texas sues Biden for requiring abortions in medical emergencies: TX lets moms die?

Fed govt does not recognize unborn ‘child’ as child: need birth certificate for tax credits

 

Will any of the J6 coup instigators ever get tried and go to jail? Rich have all the lawyers

Felon 2024? Trump responsible for deaths in J6 riot: is it manslaughter or free speech?

Will Biden Justice Dept fail to use J6 testimony to indict GOP head: Trump walks?

Secret Service: ‘missing’ Jan. 6 texts are our ‘secret’ acts: ‘deep state’ defies Congress?

 

20 states deny student choice of gender ID: state will tell you what sport you can play

Congress gives $52 billion subsidies/tax credits to technology industry: already wealthy

Biden tested positive for Covid-19: Saudi prince gives Biden more than bad press

 

SCAMS/SPINS:

War weapon bullets are meant to destroy kids, families, lives: fun to shoot 30 rnds/min

If everyone has a gun: fight turns into shooting at CA bowling alley: 1 dead, 2 shot

Good gun in mall saves shoppers: proves handgun can’t outdraw war weapon: 3 dead 

 

SCAM: text from your bank warning of fraud is beginning of scam. Call them first.

Equitable Financial Life caught misleading teachers on 403b fee statements: fine no jail

Regulators caution Deferred Income Annuities: pay now; income comes later: inflation?

 

Forget jellyfish drug, improve memory with these proven methods: costs nothing

Recall: Skittles contain known toxin, unfit for human consumption, lawsuit claims

Website legit? Check it for history of bad guys: https://check.getsafeonline.org/

Men are more likely than women to respond to scams offering fake info survey says

SCAM: ‘voter verification project’ “We're working off city voter list” 2 guys at the door 

SCAM: IRS does NOT text with links, asking you to verify bit of personal information.

Value of the federal minimum wage has reached its lowest point in 66 years. High 1968

 

$80,000 Tesla was stolen with a $20 device: hackers know how digital ‘key’ works

Disney Raising Prices on ESPN streaming service: all will follow?

Corporate CEOs gave themselves an average 18% raise last year. Workers lost 2.4%.

 

Congress may thwart 2^nd GOP coup attempt: change rules on elector counting

Throughgoing SOB Gohmert only no vote  suspend tariffs for imported baby formula.

Idaho Republicans poised to reject 2020 election results: Sieg Heil to Trump

Terrorists threaten daughter of doctor who gave 10-year-old an abortion legally

 

Clarence to end mixed marriage. Will he have to divorce his white wife? Loving vs VA

 

Jobs

NJ school senior management pays $300K: many openings

IT and manager jobs: flex hours

Many pandemic retirees are going back to work simply because they’re bored

 

 

Who owns your account now?

Medicare facilities in your area rated

Median home price was $416,000 last month, up 13.4% year ago: 5.86% fixed 30 yrs

Save 15% back to school Target to 9/10

 

 

Miracles:

Last month was among Earth’s warmest Junes ever recorded: UK all time record 40C

Lake Mead dry shows all the sunken junk for years: boats, guns, furniture, fish

 

July 21 1925, John Scopes found guilty of teaching Darwin’s Evolution: repeat history

 

One woman giving 4,000 Kenyan kids a chance for a future through recycled computers.

Unique in all the billions of stars and galaxies: why don’t we take care of what we got?

How romantic: rich and famous use Vegas drive-through chapel; low-cost wedding

TicTocker saves wedding from 3 Uber driver cancels:

 

Mom faints when baby falls in drain then can’t get out: rescue by ‘backhoe’

Gene-therapy that can effectively reverse a state of near-total blindness

 

MIT 1^st: significantly amplify and measure quantum changes in atomic vibrations

 

 

 

@

I don’t think that there is any such thing as a position or a velocity of a particle.

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

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

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

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

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

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

 

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

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

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

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

 

How to deal with the stock market fall

Make the New Year better

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

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www.InsuranceAdvisorsNetwork.com

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