Your Wealth Reserve: unbiased advisor

Showing posts with label unbiased advisor. Show all posts

Friday, September 16, 2022

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/

Friday, March 11, 2022

Why are more people moving their money to Vanguard?

Vanguard has taken in every 1 in 3 dollars in 2021. Folks are realizing that paying advisors a big chunk of their earnings every quarter over the 20 to 30 years of investing means they are giving away over 50% of their money. For the average investor contributing $3,000 a year or more, that’s over $250,000 to $400,000 total fees. That means those who pay an advisor are ending up with $400,000 instead of $800,000 or more. When we start out investing and paying 2% of our $3,000 for “personal portfolio guidance,” we feel good we are getting a good deal. However, later, we don’t realize that 2% of AUM “assets under management” as they call it, takes $8,000 to 16,000 every year. Advisors are not required to tell us what their fees will cost us over time. If we earned $200,000 like we did in the market last year, we don’t mind giving up $16,000. However, in 2022, the story will be very different. We would still have to pay the $16,000 even if our advisor did not increase our account one PENNY. Many folks have learned that COSTS matter: 3.79% vs 11%. The best predictor of investment success is cost. Earn 6% pay 2%; inflation takes 3% so keep 1%.

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

Which market sectors will help your retirement income?

Wouldn't it be great to find just ten mutual funds you could count on for your whole life? Think of it: Ten funds that earn over 10% a year that you could keep investing in from your youth and use for income and growth in retirement for the rest of your life. You wouldn't need a broker since you wouldn't be selling and buying 'hot' securities. You wouldn't need to worry about what the market was doing at any given time. You wouldn't need to worry about buying the next Apple or Google—you own them all. You wouldn't need to worry about having enough in retirement. The facts are in: 1. “The stock market is a device for transferring money from the impatient to the patient.” Warren Buffett 2. Buffett also said: We continue to make more money when snoring than when active. berkshirehathaway.com/letters/1996 And "My wealth has come from a combination of living in America, some lucky genes, and compound interest." 3. The average investor earned just 3.79% while a stock market index earned over 11% over the last 30 years DALBAR’s annual Qualitative Analysis of Investor Behavior 4. Morningstar proved that Wall Street is wrong: “In every single time period and data point tested, low-cost funds beat high-cost funds.” What does Buffett recommend we do? He told Reuters: "A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money." Mr Buffett's strategy of patience has proven to be the most successful. He recommends using Vanguard funds. It takes 1 hour to set up an account for each of you. And your income can be tax-FREE!

https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

$73 Trillion of wealthy-people money is never taxed

We will have to pay their taxes. The top 1.5% families will enlarge the wealth gap between us and their kids and it will be done tax-FREE. The middle class will shrink even more. Our reps have not been able to get Congress to reverse the 2017 fundamental tax change. The promise of America as a ‘class-less’ society ends with the return of the Gilded Age. In some cities, they have already started to “de-annex” their gated communities. Revenue collected from the estate/gift levy plunged by more than half in the span of two years, with just 1,275 families paying $9.3 billion in 2020, according to Internal Revenue Service data. Grantor trusts exploit a long-standing loophole that House Democrats had proposed closing before the provision was deleted from the Build Back Better package. Since the Trump/GOP tax breaks, the national debt has not been reduced as promised by increases in national production/investment as promised. The increase in wealth of the top 1% families will not be captured. The debt will be passed to us the remaining tax payers. The rich get all the tax breaks: Socialism for the Rich. We have one way to avoid having to pay their taxes in the future.

Use the only legal tax haven: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

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

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

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

How to invest in uncertain times: war, inflation, job changes

When will life get back to normal? Well it might not happen soon or ever. Paid forecasters and money managers always have an answer but we know down deep there is no correct answer. This means we have to be ready for whatever happens. When markets are volatile and high earnings are not assured, we have to control what we can control. We can control what we pay for a stock or stock or bond fund. We can control how much to pay for transactions. We can control what we pay for advice if we need it. Over and over, those unbiased folks (not salespeople) tell us that frequent trading—trying to time the market for better results—does not work. Sure, there are some folks who can show us their great results for the recent past—the last 1, 3 years. However, we are not looking in the past for the future great results. Here is all we know. Fidelity looked at client accounts that did the best. They were the ones who forgot about their account. DALBAR, the investor-tracking-markets firm looked at the actual outcomes of advisor managed funds and found the best outcome was a low cost index fund. Finally, Warren Buffett bet on the Vanguard 500 Index fund over 5 specially chosen hedge funds. The Vanguard Index won. It is the low-cost broad index that can provide 11% a year over time.

Buffett makes it simple: https://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900/

Using tax-managed retirement funds is essential to survive

Sixty-three percent of Americans don’t understand how their 401(k) works, and 81% don’t know how much they’ll need in retirement, according to a survey from Bank of America. This survey does not tell us how old the owners are so the results may be normal. When we start working in a company that offers 401k, we don’t understand more than it is a retirement account that delays taxes on part of our income. Oh, we also remember that the company will match our contributions. Of course, no one knows how much they will need in retirement. We just started working so we aren’t supposed to know about retirement yet. On the other hand, if those who answer were age 65 or near retirement, they will soon find out that no one knows how much they will need in retirement until they are in it. Most people don’t have a high-cost financial advisor who may know how to estimate their income. Most people haven’t decided on when to take Social Security. Nor do they know how much income they can take from their nest egg to make it last to age 90. No one knows what their market portfolio will earn since they don’t know which blend of stocks and bonds is right for them. They don’t realize how much of their investment earnings they will be giving up to their advisor over time. Most will only keep HALF what their money earns. Most people don’t know if they will have two incomes or one, whether they have to down size or not, whether they will health conditions that may bankrupt them. Americans don’t find out the answers until it is too late to do anything about it. Only rich people have a financial plan for later life.

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

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

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

The Path to Dictatorship: 2010-2030

Insanity: “there would be no NATO if I didn’t act…” “I will leave NATO”

Trump’s coup tears country apart

Another armed domestic terrorist guilty

Another domestic terrorist conspired

Facebook: organized terrorists for Jan 6

How Govt wastes our money:

Too little too late: Free tests going to waste: https://www.covidtests.gov/

Congress finally agrees on lynching: Lynching Black folks is wrong: takes 247 years

GOP: you can settle your neighborhood disputes immediately: kill with unlicensed guns!

Judge stops TX state from deciding kids’ life or death: TX to punish parents: Jesus says

FL law "Individual Freedom" prohibits race-related talk in schools and work. Fascism

File taxes electronically: there are already 23 million returns not done from years before

There are no auditors to force the wealthy to pay the taxes they owe: poor are easy to tax

17 US representatives voted for Putin’s war: keep importing Russian oil

GOP delays sending assistance to Ukraine to give some GOP special perks

SCAMS/SPINS:

Trump undermining democratic institutions: billionaires pay for fake voter fraud

TX rejects 27,000 mail-in ballots: most Dem voters disenfranchised

CO GOP election official caught messing with voting system; undermine voter trust

Trump official lies about voting residence: trailer is not home: voter fraud--not arrested

Fake pictures raise hate in Putin invasion motives

Russian TV Uses Tucker Carlson and Tulsi Gabbard to Sell Putin’s War to Russians

GOP anti-vaxxers learn Covid shrinks their brains; explains silly thinking; Trump support

GOP: “We need to build more gallows”: raising $ millions from call for White violence

GOP’s vision: Cotton; Trump; Cheney; DeSantis; Pence; Scott; Cruz;

Trump’s plans to overthrow of US government: Stone heads criminal conspiracy

Trump Wants to Put China's Flag on Jets to 'Bomb the Sh*t' Out of Russia: prez 2024?

Putin follows Trump: ‘Fake News’ Law; Trump’s Urging That Comey Jail Reporters

Putin, Trump’s idol, going after the pregnant women and children now: ‘denazify’

Putin doesn’t care about war crime trials: who would arrest and try him?

Putin hires mercenaries from Middle East to kill Ukrainians in eastern border

Will Putin take HALF Ukraine—Russia declares ‘East Ukraine’ separate place?

Putin has China as backstop: new dictator alliance creates new commercial patterns

Putin embargo doesn’t raise gas price: speculators in market do: $20 in 2021 same oil

Raymond Erker OH caught stealing $9.3 millino in Ponzi: guarantee no risk returns

David Schamens NC caught stealing $6.8 million in Ponzi: loans to traders high returns

Scam via Venmo, Zelle or check that bounces: CC fraud ends up our account

Scams aimed at us: warranty, health, religion, SS, student loans: just hang up and survey

How to spot a government imposter scam: claim SS, IRS, etc

Johnny Stine WA caught selling fake vaxx for $400+; more demand when stop order sent

“Service fee: scam: order promised free shipping but at final screen, shipping is “service”

City National Rochdale caught overcharging clients, mislead, misinformed $30 mil fine

BEWARE: Subarus now sold without the tech that connects drivers to music, navigation

Paper products now thinner: Bounty, Scott, etc shrinking without warning.

Deed Notice Scam If you receive one, don’t waste your $98.

Anti-vaxx trucker propaganda raises money for the website not for the truck drivers

Unvaxxed continue to die: FL GOP watches dead top 970,000: personal freedom kills

BA.2 makes up 11.6% of COVID variants in U.S

Jobs

41,000 additional veterinarians needed to meet the needs animal healthcare by 2030.

IRS plans 10,000 hires to help clear millions of unprocessed tax returns

Who owns your account now?

Best paint review from Consumer Reports: $46-$90

NM Archdiocese Sues Insurers Over Sexual Abuse Coverage: victims waiting years

No humans: I had to write to CEO T-Mobile to cancel my account: no button; no CSR

I cut my car trips in half: all my short trip errands at one time

Miracles:

4,500 antiwar protesters arrested in one day in Russia

LeBron James had a 56-point game Saturday.

China to make electricity in the Gobi desert: no one will complain of noise

11-year-old Ukrainian walks 100s miles to Slovakia alone

3,000 applications from people in the United States who want to fight Putin

Nearly 60% of Americans gave money last year. Average donation: $574.

Some really free stuff: certain rules apply: Congress gives itself the best stuff on us!

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/

Friday, February 25, 2022

Time to buy stocks!

Time to buy stocks?

The stock market is down 12% so far this year. For the long-term investor especially, this is the time to BUY. Stocks are on sale. The long-term trend is still positive—9-11% returns over time. If inflation continues at present levels, you will need those levels of return to maintain your purchasing power, especially in retirement. If you sell all stocks and buy bonds or cash, you will have little gains in future years. You may lose money. The last times we had volatility; the stock market fell and rose again. (Google IVV MAX for returns since 2000) If you had stayed in the market, your money has increased 204%. Compare other asset classes like precious metals, real estate, cash, Treasuries. Yes, less volatility but less compounded returns. Buffett’s secret: “My wealth has come from a combination of living in America, some lucky genes, and compound interest.”

Let compounding work for you: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Putting your refund to good use

The average refund is $3,000. Save the $300-$600 tax prep cost by doing your tax return using IRS-approved tax software via IRS free file. Or AARP free tax prep. Do not mail your return since IRS is still processing 2019 paper returns. I just got my refund! Have your refund put in your account directly—direct deposit is the safest way to finish your taxes. Take all your credits: Child and Dependent Care Credit was supercharged through the 2021 American Rescue Plan. Parents can receive a tax credit worth as much as $8,000 — nearly four times the previous limit of $2,100. The Child Tax Credit provided funds throughout the year but some families may have been shortchanged. The expanded Child Tax Credit, by comparison, provides $3,600 for each child under six and $3,000 for children between 6 to 17. The fact that the tax credit is also fully refundable is important because it could boost the tax refund that many parents receive this year. Invest your refund each year and you could have $500,000. Start your tax-FREE retirement fund so you have enough later on. When you can no longer work, you can spend ALL of your investment earnings—no taxes. This helps avoid taxes on your Social Security too.

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

What’s your retirement income look like?

Before you quit your job and retire, you need to see if you will have enough income. The earlier you do this the better—you may need to hang on for a while. You can get an estimate of your Social Security benefits at ssa.gov/benefits/retirement/learn.html#h2,

Ask your HR department for your estimated income from a company pension or retirement plan. Will your pension provide cost of living increases and pay some of your health care expenses? If you may be doing a ‘back door’ Roth IRA conversion, wait for Congress to decide on the BBB bill, expert Ed Slott says. Finally, you can estimate how much income you might receive from your savings/investments with a Monte Carlo income calculator like Vanguard’s. Is your spouse’s income included? Are there any forgotten 401k pensions from former employers sitting out there? Are you planning on staying in town with your current friends or moving? Are you getting financial support from other sources? Are you likely to arrange a phased retirement with your employer? What are you planning to do with your time? Will you have enough income? How will you handle health care costs before Medicare kicks in?

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

Why Trump and kids have subpoenas

NY State thinks he has defrauded businesses because he faked the value of his assets in his financial statements. For instance, he claimed his Westchester golf club was worth less than the tax assessor said so he paid less property tax. He also claimed deductions for claiming the forest in the front yard of his mansion would never be developed. Since his accountants are now admitting their returns are not to be trusted, his businesses may have fake deductions and asset values. His business partners are suspicious. His business manager has already been spoken to so he will have few other people to blame for fraud. He may have been involved in money laundering in his real estate deals. His kids may have been involved. His normal response is to delay any confrontation so this prosecution may take more time. If he is reelected, he will not be able to claim the privileges of the president or replacing of the prosecutor since this is a state violation. Remember, he told us he does not pay taxes because he is smart. Or maybe just a criminal fraudster.

https://www.amazon.com/Most-U-S-Corporations-Pay-Taxes/dp/1514274116

When do you need to hire an advisor?

Financial advice comes in so many forms, you need to make a careful selection or you will pay more than you need to pay. For instance, if you pay a salesperson to manage your money, you could be giving up 63% of your potential overall earnings. One analyst calculated that if you pay annual expenses, trading costs, and poor trading timing, your total expenses can cut your earnings in HALF. If your investment returns average 7% and you pay 2%, your net is 5%. Inflation averages about 3% so you are accumulating at 2%--not much better than a guaranteed 10 year Treasury. Because sales people are notoriously bad at beating a simple stock market index account, you could be giving up earning 11% gross over time. On the other hand, if you need financial advice like charting your retirement income projections, you could pay a one-time fee to a fee-only fiduciary planner. Financial planners listed reflect FPA CFP^® Professional members in your area. This assures you that you are not being sold an expensive product or service. You pay a fee for a report/advice like you would pay a lawyer.

Pay less; earn more: https://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

FREE unbiased investing advice from real professionals

Charlie Munger, Vice Chairman of Berkshire Hathaway, speaks at the Daily Journal Annual Meeting. With Warren Buffett, Munger has grown wealth for stockholders in

Berkshire Hathaway. If you don’t have time to listen, his take on a rich and happy life:

Avoid treating the stock market like a casino.

Avoid speculating in cryptocurrencies.

Avoid doing something because you see someone else get rich doing it.

Avoid anything so addictive to you that you give up everything else. For some, it could be alcohol. Others, it could be video games. Others ‘playing’ the market.

Avoid “pretentious expenditure”.

Avoid holding large amounts of cash.

Buffett is more explicit: own 2 low-cost Vanguard stocks for retirement. When you have stock assets, your money compounds at higher rates when your account fees are 0.01-0.05%, not the retail rates of 1.5-3%. You don't have to settle for retail products that are structured to provide your advisor’s firm with higher revenues. The average investor earned just 3.79%, not the 10-12% market rates. (QAIB)

Use unbiased advice: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Why reinvesting stock dividends can provide better returns

Dividends are paid to stockholders when corporations earn profits. Usually, these companies are stable money makers like Microsoft, Johnson & Johnson, UnitedHealth, JPMorgan Chase, Procter & Gamble, Home Depot, Visa, PepsiCo, and Broadcom. Owning shares provides cash that can be reinvested in more shares and produces the Miracle of Compounding. Dividend increases plus share price increases amount to compounded returns of 11% a year or more. One such fund is low-cost Vanguard Dividend Appreciation Index. Over time, several of our readers have turned their $500 a month investment into over $100,000 in 10 years.

Pay less; earn more: https://www.amazon.com/You-Beat-Wall-Street-professionals/dp/1986031373

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