Friday, December 2, 2011

Best holiday gift ever

Is immediate annuity right for you?
Immediate annuities convert your lump-sum cash into payments that last your lifetime. This may help you receive a guaranteed amount to pay bills when you retire. However, it is important to consider two situations that make these instruments a bad deal. 1) Periods when interest rates paid by securities are low mean you will receive lower monthly payments. Waiting a year or two until rates rise may guarantee you don’t get stuck with a low amount forever. 2) Inflation over time tends to depress the buying power of the monthly check. A monthly check of $1000 now may sound great but in 25 years, this amount will only buy $500 of goods. Conclusion: Don’t buy a life annuity during low interest periods and consider buying annuities for shorter periods of time. Alternatives exist but don’t expect your financial advisor to present them. Annuity commissions are generous and help advisors earn more than you do. Check our Guide:

Wealth begets wealth—why the 1% never pays their fair share of tax
While 44 million can’t get health insurance, one family creates its own tax loopholes to avoid paying tax. We can make up the difference.

Billionaire Buffett admits rich don’t create jobs with lower taxes—GOP claim false
“The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you,” Buffett, Berkshire Hathaway, said in the interview. “But that has not worked the last 10 years, and I hope the American public is catching on.”
Are we catching on? 69 percent of Americans want to let the Bush/Republican tax cuts for the rich expire. Yes, we get it! Our Congress does NOT get it!

Annuity renewal rates continue to fall
Fixed annuity renewal rates are expected to fall leaving many pre-retirees without recourse. Faced with less income and a high surrender charge, there is little that folks can do. Many variable annuities offers are being withdrawn due to low rates and market volatility. Variable annuities may have the floor rate reduced or crediting formula changed because of the current economic environment. Some insurers have had to add reserves since losing millions in this low interest rate environment. New annuities will provide fewer benefits to buyers while highlighting low risk in this high risk environment. Members explore alternatives with our Guide:

Best Holiday Gift Ever—Gift of a Lifetime
You can provide the foundation of your child or grandchild’s future this Holiday. Give them the Gift of a Lifetime—a starter account for their own $2,000,000 Wealth Reserve. Your grandchild could have a $2,000,000 Wealth Reserve providing tax-FREE income. Your monthly gift could provide your grandchild with real “social security:” their own tax-FREE money. You take advantage of the miracle of compounding. Your gift becomes a $2,000,000 Wealth Reserve. You could reduce your taxable estate by $500,000 for each grandchild. Your grandchild will NEVER have to pay taxes on the money either. Social Security will exhaust its funds in about 2037, according to 2010 projections. Start today! Every year you delay costs your favorite kid $100,000 later.

Supremes to Decide Whether Kickbacks in mortgage settlement are legal
Your title company pays kickbacks to your mortgage settlement firm for steering business to them. 1974 law says it is illegal but realtors and title firms and lawyers say it is part of business. Is there no ethical responsibility here?

Senior Medicare Patrol (SMP) programs across the nation continue their work fighting Medicare fraud. This is part of President Obama’s initiative to educate people with Medicare about how to protect themselves and Medicare from fraud. SMPs rely on approximately 5,000 volunteers nationwide to enhance their efforts.

Congress running away from members’ insider trading now: but OKed since 2006!
Rep. Louise Slaughter, D-N.Y., has been introducing her bill to ban insider trading by lawmakers since 2006. Before the "60 Minutes" story, there were nine sponsors; now there are 118, and the House Financial Services Committee has schedule a hearing Dec. 6. What are the chances of finding fellow criminals?
"The fact that any one of us would think to personally profit off the information that's shared with us upsets me greatly. Members of Congress and their staff should be subject to the same rules as everyone else." The "60 Minutes" segment highlighted financial transactions involving Democratic leader Nancy Pelosi; Rep. Spencer Bachus, R-Ala., chairman of the Financial Services Committee; and Speaker John Boehner, R-Ohio. All three previously denied wrongdoing—of course! Why didn’t they pass it before? And what about after they leave Congress—still have access to insider deals.

About 47 percent of Congress, or 249 current members are millionaires. … In 2010, the estimated median net worth of a current U.S. senator stood at an average of $2.56 million,” according to the Center’s research.

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