1. Income taxes go away when you are retired? (True or False)
2. Social Security benefits are not sheltered from taxes! (True or False)
3. There are no tax consequences if you don’t start to withdraw your pretax savings at age 70.5? (True or False)
4. Everyone
that wants to advise you about your retirement savings is a
professional and has your interest at heart. (True or False)
5. In general, stocks are safer than bonds when talking about retirement savings (True or False)
6. A
broker at the largest brokerage firm must know what they are doing and
can give you the best advice in relation to your retirement savings.
(True or False)
7. Bonds have steadier income than stocks. (True or False)
8. Mutual Funds are safer than individual stocks or bonds (True or False)
9. Bond Funds can give you steady income (True or False)
10. An Annuity is a good savings vehicle for future steady income. (True or False)
Let's look at your answers!
1. Remember
all that pretax money you contributed to your retirement plan? When you
withdraw it at retirement, you pay income taxes.
2. That is true, they are not tax sheltered. A portion of your Social Security benefits is included in your taxable income.
2. That is true, they are not tax sheltered. A portion of your Social Security benefits is included in your taxable income.
3. That
is false. There is a 50% tax penalty on amounts that the IRS requires
to be taken out after age 70.5 and that are not withdrawn when required.
4. False, everyone has their own interest and their own biases. Some people have no clue what they are talking about.
5. False, when a company goes bankrupt, stockholders get nothing. Stocks can’t get paid until bondholders get paid.
6. Brokers must look after the interest of the brokerage firm first. You come second.
7. True, bonds are paid by a schedule. Stock dividends can be cut or eliminated all together.
8. True,
mutual funds are made up of many different securities. Because they
have so many, one bad company makes little difference to the fund’s
portfolio.
9. True, most bond funds pay investors every month.
10. True, you can have an annuity pay you every month, every quarter, or however you set it up.
A Special Note for all my reader’s around the world!
Hi my loyal readers around the world. I just finished making my final plans of my life. I will be retiring in a few short years and moving into my luxury retirement home. I will spend most of my time getting my seven year old grandson ready for the 2028 Olympics. I have no idea what my younger grandson is going to do. As of now, I would say it has something to do with electrical engineering because at 1 years old, he knew how to operate an IPad. But whatever it is, I will be around to lend assistance to his education.
My plans also involves my readers. I am starting an online stock club design to give my loyal readers as much as one million dollars, maybe more depending on when you start my plans. That money will be to remember me by.
Please read the blog below and follow my instructions if you want a chance to get one million dollars.
http://bondinvestments.blogspot.com/2012/06/how-would-you-like-to-have-over-one.html
The younger you are; 35 and below, the greater the chance of getting over one million dollars. If you are starting at 60 years old, chances are you will only make it to $100,000.
I started out at age 23 and spent a lot of time laid off and giving money away to my children for cars. I bought 3 homes. One home was paid off in full. The other I bought in a partnership paid in cash. All my cars since 1971 were the current year and I have not had a car note since 1983. I even gave two girlfriends a car each. That is why I don’t have a million dollars today. But if you become one of my “Greedy Friends” I am sure with my instructions, you can get that million.
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