Health Insurance
Buy ONLY what you need
Find a comprehensive plan that your doctors accept.
You may be paying for benefits you will never use.
Your premium may be based on old information.
Save 25% with the right policy.
You may be paying for benefits you will never use.
Your premium may be based on old information.
Save 25% with the right policy.
By Dan Keppel, MBA, $19.95. Just published: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/
MO returns $133 million in unclaimed funds to owners—where are yours?
Since January 2009, MO Treasurer Zweifel has returned $133 million to more than 418,000 account owners. There are thousands of bank box contents too. "Every day my Unclaimed Property staff talks to owners of Unclaimed Property in an effort to return accounts large and small," Treasurer Zweifel said. "There are 58 accounts with $100,000 or more in them waiting to be returned.” To find out if you have Unclaimed Property in any state, you can visit http://www.unclaimed.org/.
Is the Wal-Mart life insurance right for you?
Issued by MetLife, the insurance firm is offering Wal-Mart shoppers a pre-paid, one-year $10,000 to $25,000 life insurance policy that costs, on average, about $100 or so. For Wal-Mart shoppers aged 18-44, a $10,000 policy costs $69. But for consumers aged 60-65, the policy can cost up to $429. This policy is expensive when compared to $100,000 benefit for $7 a month from insurers with the same rating as MetLife. MetLife is taking advantage of impulse buying and high lapse rates that assure a high profit business. If you need real coverage, use our Guide: http://www.amazon.com/Life-Insurance-Need-right-ebook/dp/B009MA9K78/
Are your retirement investments better off with Obama?
Chart says not since FDR’s 238% gain has your portfolio done so well as during Obama’s first term. Will Americans vote their pocket book or the promises of the “king of off-shoring jobs”? Your Choice: GOP rulers tend to end up in disasters and wars.
http://www.nytimes.com/2012/10/21/your-money/wall-st-may-not-cheer-but-obamas-been-good-for-stocks.html
http://www.nytimes.com/2012/10/21/your-money/wall-st-may-not-cheer-but-obamas-been-good-for-stocks.html
Can you read your 401k retirement plan statement?
New rules require plan admin. to say clearly how much it costs you and what you are paying for. However, your plan disclosure may have failed to disclose certain types of compensation because the service provider didn't think it counted under the rule. They also need to state their fiduciary (acting in your best interests) status. You need to understand the total amount that the servicer is taking from your account. If you earn 8% and they keep 3% total of all charges, fees, commissions, etc, you are only adding 5% to your account. If your mutual fund loses 8%, you must pay their 3% from your funds. You can then decide if you need to switch investment options to lower the fees or start your own retirement fund. If so, we can help you decide: http://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938/
David Lerner fined for ripping customers off
The Financial Industry Regulatory Authority said it ordered the firm to pay $12 million in restitution to clients who bought shares of a nontraded real estate investment trust known as Apple REIT 10. FINRA also fined David Lerner Associates more than $2.3 million for charging unfair prices on municipal bonds and collateralized mortgage obligations. You don’t have to pay unfair prices.
Save $3,000 on fees, commissions and charges every year: Do It Yourself Personal Finance by Dan Keppel. Your financial team--agent, banker, broker, advisor and money manager--have been taking at least $3,000 every year from you. They only make finance seem difficult so you keep paying.
Two professors examined 40 studies of how we invest. Read the report on the missteps of individual investors. They detailed how individual investors make every mistake in the book and wind up either losing money or badly trailing no-brainer index funds.
Among the various sins that investors commit — and which cost them dearly — are:
•Trading too much, incurring big fees that more than wipe out their gains
•Selling winners while clinging to losers
•Focusing too much on individual stocks and not diversifying their portfolios enough
•Falling for stocks that get extensive media coverage or are trading near their highs
•Engaging in thrill-seeking behavior that confuses investing with speculation or gambling
•Trading or investing in financial instruments they don’t understand
•And, finally, despite all of the above, believing in their own superior investing ability
Only 1% of traders do well the study says. We try to mimic the Wall Street myth of the active trader—the Gordon Gekko character—with our own money. Wall Street actually only trades with OPM—other people’s money. Obviously the way to succeed is to do the opposite: Buy and hold a diversified group of stocks for longer periods. The easiest way to do that is with a low-cost index fund. Some of our members average over 10% a year by doing just that. http://www.amazon.com/What-Really-About-Building-Wealth/dp/146790287X/
Are you taking your RMDs on time?
If you own an IRA or retirement plan of any kind, the IRS wants its taxes. You have to take money out even if you don’t need it. The rule is here: http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions:
“Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 70 ½ years of age or, if later, the year in which he or she retires. However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs must begin once the account holder is age 70 ½, regardless of whether he or she is retired.”
How much is your RMD? IRS table uses your life expectancy. Ask your trustee or use forms:http://www.irs.gov/pub/irs-pdf/p590.pdf#page=110. If you don’t need $ now, create an emergency fund or legacy for your grandkids: http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105/
Romney tax plan eliminates 3 of our tax deductions to pay for $5 trillion gift to rich
The latest component of Romney's plan for individual income taxes would create a ceiling on deductions as part of a three- part set of limits on tax deductions, according to a campaign aide who spoke on condition of anonymity on Oct. 3 to provide details on the options. The aide said there would be a $17,000 cap on deductions and credits, while Romney suggested a ceiling of $25,000 during the Oct. 16 debate.
A second ceiling would apply to personal exemptions (now $3,800 per person) and a third cap would apply to the tax break for employer-provided health insurance. If you have health care from your employer, you would need to pay tax on it.
Obama claims these changes raise taxes on the middle class and do not cover the $5 T loss in revenue. Romney claims the balance comes from economic growth. However, Bush tax cuts did not produce economic growth. They actually reduced our growth. http://www.businessweek.com/news/2012-10-24/deduction-cap-means-romney-s-math-adds-up-tax-group-says
Finding the right doctor/hospital is difficult and we are not comfortable with the one we have
Only half of Americans have felt that they have made the right choice when selecting a doctor or hospital, according to a new study by http://www.healthgrades.com/. Taking the time to carefully review a hospital's performance can directly influence outcome of care – and statistics show that, in some cases, can mean the difference between life and death. Our Guide helps you find the best for your needs: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
US corporate heads ask Congress to due its duty—cut spending AND raise taxes!
CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. The CEOs said the solution requires a combination of higher taxes and reduced government spending including on entitlement programs such as Medicare and Medicaid. They also seek federal investment in infrastructure and math and science education. "What it really comes down to is if we still have the political will to be a great country," Dave Cote, chairman and CEO of Honeywell International Inc., said in a statement.
SCAMS “Only the little people pay taxes.” Leona Helmsley
We taxpayers are still backstopping the big banks reckless trading.
"The managers feel we are the suckers in their poker games of high stakes." There still is no firewall to prevent another financial bailout. “Very large institutions do have advantages in the marketplace when they are not allowed to fail,” Mr. Stern said. “This perception leads to excessive risk-taking, not because management says ‘let’s take more risk,’ but the way things are priced in the marketplace encourages more risk-taking.” Gary H. Stern, former president of the Federal Reserve Bank of Minneapolis and co-author, with Ron J. Feldman, of the prescient 2003 book “Too Big to Fail: The Hazards of Bank Bailouts.”
Who owns your account now?
Verizon is transferring some of its pension obligations to Pru. Verizon is using the agreement to lower risks related to pensions while improving its financial profile. It follows General Motors in payingPrudential to assume the risk that market returns are inadequate or that beneficiaries live longer than expected. Transferring obligations can reduce swings in earnings tied to securities and relieve companies of the need to manage large pools of money. “What Verizon is doing is what a lot of companies are considering,” John Butler, a senior analyst at Bloomberg Industries, said in an interview. “They are offloading the risk to Prudential.”
Amerigroup merged with WellPoint. Amerigroup will head the combined company's Medicaid managed care business.
Northwestern Mutual changes back into an insurer from a thrift to avoid Fed oversight. Many insurers became Savings and Loan Holding Companies during the financial meltdown in order to have available extra cash at 0%. Now they have to put more capital.
Sun Life Financial, a Canada insurer, is seeking a buyer for a U.S. annuities business.
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