How will you make up the cuts in Social Security benefits?
With Washington set on cutting our benefits in retirement, perhaps you should grow your own Tax-FREE Income supplement. You know taxes will go up and benefits will go down. Our representatives want us to pay for their previous mistakes—two wars, two tax cuts and two bank bailouts. “Only the little people pay taxes,” according to millionaire Helmsley. We need to grow our tax-FREE income NOW while we can:
Obama gives in to GOP on our current SS benefits
Switching to the chained CPI, as recommended in Obama's budget, would close about 25% of Social Security's 75-year shortfall and would be a significant down payment on bringing that program into long-term balance. The existing CPI already under compensates Social Security beneficiaries because it does not fully reflecttheir out-of-pocket health care expenses, which tend to be higher than those of younger Americans. “To shift to the chained CPI would appear to under compensate them even further,” according to the NASI's fact sheet “Should Social Security's Cost-of-Living Adjustment Be Changed?” Although most proposed changes to Social Security benefits in inevitable reform discussions — such as increasing the normal retirement age — would affect future beneficiaries, a change in the way benefits are indexed to inflation would affect everyone — including current retirees.
What are chained CPI? A trick to pay fewer benefits. You can’t switch drugs like you can food so the example beef to chicken doesn’t apply: http://www.cnbc.com/id/100624098?__source=yahoo|headline|other|text|&par=yahoo
CR best autos under $20,000 and $25,000
Good, reliable, safe vehicles. Many models can be bought for under $25,000. Each model is a good all-around choice that meets CR requirements for being recommended.
Poor, unreliable, overpriced. Some cars lose over 60% of their value in 5 years:http://www.bankrate.com/finance/auto/car-depreciation-models-lose-value-6.aspx
LA tax plan to attract business from TX
Gov Jindal's proposal to eliminate the state income tax shifts to poor. His detailed plan would do away with all state personal and corporate income taxes. It also calls for a 56-percent increase in the state sales tax, a much higher cigarette tax, and the elimination of some tax loopholes to make up the $3 billion shortfall from scrapping the income taxes. To allay fears that the plan would hurt the poor, Jindal has proposed a rebate for low-income residents and some retirees. The governor says the change would attract business by makingLouisiana competitive with states such as oil-rich neighbor Texas , which has no income tax. You can avoid income taxes no matter where you live: http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702
Lawsuit Claims Bankers Life Denies Long Term Care Benefits
Law firm Williams Love O’Leary & Powers alleges Bankers Life and Casualty, a Chicago-based firm, is denying benefits to those who paid for long term health care insurance so they would have security in their old age. A class action lawsuit against the insurance company was filed today in U.S. District Court in Portland . “She paid their premiums for years, counting on having support if she became ill. That time came and all she got from Bankers Life was a cold shoulder, rejection and red tape. It was a total rip off.” “My mother trusted this company,” Grants Pass resident Dennis Fallow explained at a Portland news conference this morning. “She paid their premiums for years, counting on having support if she became ill. That time came and all she got from Bankers Life was a cold shoulder, rejection and red tape. It was a total rip off.” In 2011, Bankers Life ranked worst in the Oregon consumer complaint index. Consider the LTCi alternatives:http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X
Problems with reverse mortgages
Some buyers took the cash but lost their homes too.
Is life insurance for seniors right for you?
Approximately 40 percent of seniors have lapsed or surrendered their life insurance policies, according to a study cited in Conning Research. The number reflects a tragic, long-accepted truth in the life insurance industry. An overwhelming number of beneficiaries will never claim the death benefit. In fact, life insurance companies rely on the high probability that they will never pay out a customer’s policy; they reap most of their profit from lapsed, unclaimed policies. There are better alternatives: http://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/
SEC requires brokers/advisors to protect our identities …. finally
The regulator approved rules requiring brokers and investment advisors to adopt identity-theft prevention programs.
Is your bank treating you poorly?
The new Consumer Protection Bureau is collecting data on banks to help us make better choices. Some banks are actually paying attention. Some have stopped charging fees. Read how bad your bank really is to its customers: http://www.consumerfinance.gov/complaintdatabase/
SCAMS “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002
“Entitlements”—our Social Security and Medicare contributions—did not produce the deficits. Two tax cuts for the rich and the Chaney/Bush wars cost $3.7 Trillion and counting.
Regulator becomes lobbyist—revolving door of government
Mary Schapiro, who led the Securities and Exchange Commission in the four years following the financial crisis, has landed at a Washington consulting firm. Now we know why she never went after big banks.
State Farm caught cheating on Katrina claims—finally, jury nails it
A federal jury has found State Farm committed fraud against the federal government and submitted a false record to support fraud after Hurricane Katrina in 2005. The verdict came after the eight-member jury deliberated for three hours Monday afternoon in a whistle-blower lawsuit, Rigsby vs. State Farm. The decision potentially opens for examination thousands of post-Katrina flood claims State Farm adjusted and paid before reimbursement by the National Flood Insurance Program.
Banks misused small business recovery money
A new report shows community banks used our tax money to pay back our money for bailouts -- instead of lending the money to small businesses as originally intended. The watchdog report released Tuesday found that $2.1 billion of the administration's $4 billion Small Business Lending Fund went to repaying bailouts. Many community banks were bailed out by the government in 2008 and 2009 under the Troubled Asset Relief Fund. The small business fund had failed to take off -- disbursing only $4 billion of the $30 billion it had originally carved out. The fund was established in 2011 to funnel cash to small firms, who were facing a borrowing crunch.
Who owns your account now?
MetLife’s Tower Square Securities and Walnut Street Securities to Cetera Financial
Old policies of MONY Life Insurance to Protective Life
Old policies of MONY Life Insurance to Protective Life
IAN
41 Watchung Plaza, B242
973.746.2014
No comments:
Post a Comment