Can compound
interest provide a $1 million retirement?
Are you saving and
investing at least $250 a month in your retirement at work (401k, 403b) or IRA
on your own? Are you putting most of the money in low-cost stock mutual funds?
The other variable is time. Compound interest works when you have time on your
side. It takes about 33 years ($250 a month, $3,000 a year) with total
contributions of only $99,000 to reach $1,000,000. Even if you begin after age
30, you can still have much more than almost all your neighbors. According to
Warren Buffett, “My wealth has come from a combination of living in America
Forget
brokers/advisors: https://www.amazon.com/Warren-Buffetts-Investment-Secret-Steeple/dp/148418980
What about ETF up
35% this year?
What are the gurus
and TV marketing people so happy about? Your plain low-cost broad market index
that Buffett recommends is flat for 2018. So what can financial people talk
about? How about gold (JDST): Return year-to-date: 48.79%; One-month return:
28.66%. But after you look further, the three-year return is -77.62%. Natural gas?
(UGAZ): Return year-to-date: 51.62%; One-month return: 22.37%. But three-year
return: -51.43%. How about muni bonds (EVLMC)?: Return year-to-date: 100.76%; One-month
return: 0.11%. No track record for a three-year return: N/A. So what about
Treasuries (DLBS)?: Return year-to-date: 37.96%; One-month return: -0.74%. Not
much better than your bank savings account in three-year return: 0.24%. 500
Index (VFIAX)?: Return YTD: 3.83%; 5 year: 11.3%; 10 year: 13.22%. Salespeople
always have ‘shiny
objects’.
Buffett still has
the edge: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
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
Health ins plan scams
prey on the most vulnerable
“You can now get a
great insurance plan at the price you can afford. We make it hassle free to
sign up with the policies from Signa Blue Cross Etna United and many more.
Press one now to get a hassle free assessment or press two to be placed on our
do not call list. Thank you and it’s always be happy blessed.” Criminals
promise inexpensive health care plans and take personal information that’s used
to commit identity theft. In another version, victims are sold useless
healthcare discount plans that scammers frame as cheaper than the consumers’
current health insurance. A Florida-based company named Simple Health Plans
allegedly collected $100 million from tens of thousands of victims, Federal
Trade Commission lawsuit. Consumers paid up to $500 a month for
a relatively worthless product, the agency said.
It is easy to be
fooled: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Do you own the
absolute WORST funds?
Why do people pay much
more for exactly the same commodities as others? Convenience? Inertia? B.S.?
Misleading benefits? Some advisors are charging 2.33% for the same product as
others charge 0.00%. Is that a ‘loss leader’? Sellers
need to make something in order to compensate for time spent on other
services they say. State Farm charges 1.34% for their plain 500 index fund. Do
their customers believe they are buying an insurance product? Many
insurers seem to be enjoying this extra profit. Perhaps customers are
finally getting the message—net flows are negative for 3 and 5 years. Customers
who feel more informed have chosen to separate financial providers/vendors.
Vanguard, not brokers, offered the index in 1976 for less. It is now the
largest mutual fund firm for a reason—costs matter. 11%
vs 3.79% return on your money is huge.
Go with the pro: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Another way the ‘Tax
Credit’ class avoids paying their fair share
The IRS just
issued proposed regulations stating that there will be no clawback of
the use of any unified credit (gift tax exemption) before 2026 when the
lifetime exemption will revert from $10 million to $5 million. Wealthy
taxpayers may safely use the current $5+ million excess and, if death
occurs after 2025, still have $5 million for estate tax purposes, thanks to the
millionaire Congress. Similarly, a taxpayer could make a taxable gift now of
$11.18 million without concern that there would be a phantom estate tax on their
death after 2025. Passing on $11.18 million tax-free allows the kids to get the
‘head start they really need’? to create their own tax-advantaged business.
Use your tax credits
too: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
****************
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Trump’s
stunt over: 5,800 troops not home for Thanksgiving. Cost us $220
million.
SCAMS/SPINS:
RoboCallers index:
Top 100 callers by volume https://robocallindex.com/top-robocallers
Health ins plan
scam: Simple
Health Plans FL promised one of Trump’s
‘great’ plans.
Hackers control your
pacemaker? Any
electronic implant can be controlled by others.
First Choice
Healthcare Solutions caught
‘pump and dump’ stock scam: $12.5 mil lost.
Elite Stock Research
caught
‘pump and dump’ stock scam: $10. mil lost.
Giga Entertainment caught
paying others to pump up sales software on Apple Store.
Check food: banned
flavors--methyl eugenol, benzophenone, ethyl acrylate and pyridine.
Ford’s robot
cars: “When we take the road, we know what doing and where
the profit is.”
Trump attacks
another distinguished patriot: draft
dodger says he could have done better.
Cheryl Ann Stallings
caught
controlling client bank accounts for profit
Scott Newsholme, FL
caught stealing
$3.1 million by various fraud: jail 8.5 years
Waddell Reed caught loading
its 401(k) plan with costly in-house investments. Fine only
H. Beck MD caught allowing
sale of unsuitable L-share variable annuities/riders. No jail.
Trump’s
mob using private email accounts too—lock them up too? “ijkfamily.com”
Trump
ordered Justice to prosecute 2 rivals just like tin dictator—McGahn said
“no”
The Don SAYS HE'S
MOST THANKFUL FOR HIMSELF ON THANKSGIVING
Is
there really a ‘master race’ in Kansas? Dorothy found out our
Wizards are frauds!
IRS audit? agents
for criminal investigations dropped below 2,100—Lowest since ‘60s.
----------------------------------
The Mob Boss can never go to jail: Trump
has Kava as Supreme so no indictment.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes protect
Don’s ‘Orders’? – GOP: Sure, pres
can change
Constitution anytime.
----------------------------------
Jobs:
Who owns your account now?
Avoid
mistakes like these in passing on your accounts and assets.
Need your IRS tax file?
https://www.irs.gov/individuals/get-transcript
and help
to file.
Foxconn
coned WI into $4.1 BILLION subsidy: now orders down but taxpayers billed.
Miracle:
Where is the miracle
that stops mass
killings? More crazy people or mass destruction weapons?
20
million more of us have health insurance than in 2010! 28.5 million still not
covered. We can do better: All the children in New England are insured.
We
fell 84 floors in broken elevator -- lived to tell the tale: Grace of God?
1 good cable?
“Mick
and I live off of this fire between us” New rule: work
past age 75 for a grand life.
IAN
41 Watchung Plaza,
B242
973.746.2014
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