Friday, November 29, 2013

Great financial future?

++Will you have a GREAT financial New Year! 
++Set and reach money goals. 
++Set-up a tax-FREE investment account. 
++Buy and hold 10 mutual funds all your life.
      The greatest impediment to financial freedom is debt. Most of us live paycheck to paycheck. Freedom from our chains of lifelong payments requires immediate action.  When you pay $161 per month for 10+ years on your credit card balance of $10,050, you will spend at least $19,360. You pay almost double for that same $10,050! 
       I will show you how to be on the other side of the deal--collecting $20,000 for your investment of $10,000. It takes only 1 hour to set it up. By Dan Keppel

ObamaCare signup deadline moved from Dec. 15 to Dec. 23
In 2012, 27 percent of young adults (ages 19 to 34) lacked health insurance, although the rate varied widely from state to state, according to a new Census Bureau infographic, "The Young and Uninsured in 2012." Texas has 38% uninsured young adults while MA has 8%.
Oklahoma’s individual and small group health insurance markets were offered early policy renewals. 
Small business enrollment is delayed one year. Businesses will still be able to shop for plans at the federal website beginning in December; they just won’t be able to sign up their employees using the system. The change may have a minimal effect since many small businesses already rely on agents and brokers for insurance at group rates.

Are you saving enough for retirement?
Just 56 percent of women express confidence that they’re saving enough for retirement, compared to 65 percent of men, according to a recent survey from TIAA-CREF. Women surveyed believe they would be more likely to change their savings and spending habits after receiving financial advice, but nearly half say financial advice will cost more than they can afford – and one in three say they don’t even have the time to look for help.
Advisors can take up to 63% of your total retirement nest egg. Simple alternative that Warren Buffett uses assures you keep more:

Study says a picture of future wants helps us save more
Harvard economist Sendhil Mullainathan studies how people save money for the future. He found that we save more when we have a picture of what we want to buy in the future. This helps us remember why we are saving and avoid impulse buying. Credit cards make it easy to buy so it is harder to wait. People don’t want to wait until they have the money. But waiting allows us to filter out those items that are just passing fancies. Automatic investing is the greatest help in saving, according to his study. We never have to think about sending a check if our investing amount comes out of our check right away automatically. Other tips:

You don’t need Black Friday to find bargains on insurance and investments
*Save on all financial products and services.
*Avoid taxes and fees.   Let your money compound. 
*Cut out the middleman/woman. 
*Buy only what you need.
     The best guarantee of lifelong security is having money. We grow our savings in a tax-FREE investment account. It assures us of money when we need it. We stop paying unnecessary taxes. We avoid overpaying for products and services by buying only what we need directly from manufacturers, not salespeople. 

Study shows advisors often sell higher-cost products
Harvard economist Sendhil Mullainathan hired actors who pretended to seek help from financial advisors. Those with solid investments in low-cost funds were advised to switch to some undiversified high-cost funds. Incentives are good for advisors and bad for investors. We can do low-cost investing ourselves and earn over 50% more:

SCAMS           “Deficits don’t matter” Republican Godfather, Dick Cheney, 2002
Bush wars increased the debt by $4-6 trillion to $16 trillion. 1985 debt $3 T, same as 1945.

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