Help make your grad successful

Every grad needs this gift

Wealth: What every high school graduate needs to know in the 21st century $19.95 Amazon http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/

Investors are giving up on broker commission funds

More investors are moving to no-load (no commission) mutual funds. The no-load funds had net inflows of $735 billion from 2009 to 2011, while load-bearing mutual funds saw $109 billion in withdrawals during the same time, according to the Investment Company Institute. Members move to LOW-COST funds also: 0.07% vs 1.68% saves about $500,000 on a lifetime of investing. amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Congress hides ObamaCare benefits to small business by not telling?

Why small business ignores tax credit of 35-50% of cost of health care insurance?

For those small businesses that are either adding insurance coverage or keeping it, the tax credit can save them up to 35 percent. In 2014, the credit increases to up to 50 percent of the cost of their health insurance. In Florida, 220,000 small businesses are eligible for the tax credit, according to a report released last week by Families USA. Many businesses will not take advantage of it simply because they don’t know about it. When they find out, they say: "We all have had health scares in our families; we are all very much aware of what it can do if you don't have (health insurance). If something happens, you could lose everything."

Investors want simple

40% of investors say investment products are too complex and that one-third feel overwhelmed by their investment options, according to a survey by MFS Investment. We suspect both figures are low. Members go with the Simple Financial Life: amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326

Young workers want pensions
Younger workers prefer guaranteed income in retirement than older workers, according to a study by the Hartford. Yet more than half are not saving/investing for retirement.

Tax-Free Living: 2012 strategies to build a tax free $2,000,000

http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

CA low-cost auto cover falls 9% $257.69 a YEAR

The cost of an annual premium has decreased up to 9 percent across 58 counties and the income eligibility caps for qualifying have increased. Beginning May 15, the cost of an annual premium for the program has decreased up to nine percent across California's 58 counties and the income eligibility caps for qualifying for the program have increased, allowing more of California's uninsured drivers to qualify for state-sponsored Low Cost Automobile Insurance. Average cost of an annual Low Cost Automobile Insurance policy in California is now $257.69 a year and the premiums for all California counties are now less than $350 annually. 15 percent of the cars on California roads don't have insurance.

Go figure?

A study finds that in 3 of 4 states that enacted texting bans, accidents actually increased. Instead they’ll put the phones deeper in their laps to avoid detection and the result will be an increase in accidents. It’s like football helmets—instead of protection, it’s a weapon. http://www.csmonitor.com/Commentary/Opinion/2012/0517/Inconvenient-truths-to-a-ban-on-texting-while-driving

Is critical illness insurance right for you?

The chance of getting diagnosed with cancer or having a heart attack is heightened for people over age 40. In fact, according to the American Cancer Society, one in two men and one in three women develop cancer in their lifetime. This insurance is like a savings account: you get a lump sum to spend. A person in their mid-40s will pay $180 a year for a $15,000 lump sum benefit. A recent study found the average financial cost associated with a critical illness is $35,500. Most of the cost is linked to lost wages, the survey found. MetLife found that households spend nearly $5,000 on out-of-pocket medical expenses that insurance won’t cover, and about $1,500 on non-medical expenses. Let’s do the math: pay $180 a year for 40 years for $15,000 benefit if you need it. But you can pay $180 a year for 40 years in a bond fund and have $53,000 tax-FREE AND you don’t need to get sick. Members buy only what they need: http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Should stay at home parent be denied credit card?
“Denying someone a credit card because that person is a stay-at-home parent devalues the work of raising and caring for children and that person’s worth as a partner,” MomsRising Executive Director Kristin Rowe-Finkbeiner said in a statement Tuesday. " This radical shift in policy -- considering individual income rather than household income in granting credit -- does nothing to help credit card companies assess credit-worthiness and everything to harm moms or dads who don’t earn income.” New law denies credit to those without income in their own name. Household income is not enough even though they make 90% of all purchases for the home. http://www.change.org/petitions/don-t-set-us-back-half-a-century-give-stay-at-home-moms-credit

 

SCAMS                       “Only the little people pay taxes.” Leona Helmsley

Will Congress cap the taxes it gives to farm corporations?                Save $1B

A recent report by the Government Accountability Office, which was originally requested by Sen. Coburn, that outlined possible savings of up to $1 billion a year on crop insurance if Congress capped the subsidies for the premiums paid by farmers and USDA took more aggressive steps to monitor for fraud and abuse in the program.

Will Congress stop the bank bailout waiting to happen?                     Save $3B

Morgan Chase’s $2 billion loss proved that we need to separate the banks into 2 banks: the FDIC backed deposit bank and the betting bank. Sen. Carl Levin, D-Mich., said that Dodd-Frank allows banks to hedge particular assets but prohibits the kind of position that JPMorgan took.

“This kind of hedging on the direction of the economy is not allowed,” Mr. Levin said. Regulators have given banks two years to implement Dodd-Frank. Morgan Chase bets on “synthetic credit securities” and could face $1 billion more in losses. They aren’t sure  how it happened exactly???? NY Fed knew about JPMorgan's trading loss and did nothing. Government is letting it happen again.

Do we need another catastrophe before we do something?

GE pays fired employee $2.25 million for poor job performance!

Genworth Financial will pay former Chief Executive Michael Fraizer a lump sum of $2.25 million as well as stock options worth $ millions as part of a separation agreement reached on Monday. Fraizer stepped down as CEO after the company's weaker-than-expected results earlier this month. Only in America!

By the way, GE made $5.1 billions and paid no tax--got a refund too!

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=2&scp=1&sq=GE%20taxes&st=cse

IAN

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Montclair, NJ 07042

973.746.2014

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