IRS pays you to save!

Tax refund for your savings—IRS pays you to save!

You may be able to take a tax credit for making eligible contributions to your IRA or employer-sponsored retirement plan. The amount of the credit is 50%, 20% or 10% of your retirement plan or IRA contributions up to $2,000 ($4,000 if married filing jointly), depending on your adjusted gross income. See the instructions for Form 8880.  

NFL pays no tax but has income—is it fair to you?

Here is another lobbyist’s dream. A business that has income but pays no taxes and yet has spent more than $5 million on federal lobbying since Jan. 1, 2010, federal records show. Its CEO gets $30 million a year!!. Create a tax-FREE income for yourself:  http://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

First time in history, workers are the majority on food stamps—poverty wages

In a first, working-age people now make up the majority in U.S. households that rely on food stamps — a switch from a few years ago, when children and the elderly were the main recipients. Some of the change is due to demographics, such as the trend toward having fewer children. But a slow economic recovery with high unemployment, stagnant wages and an increasing gulf between low-wage and high-skill jobs also plays a big role. It suggests that government spending on the $80 billion-a-year food stamp program — twice what it cost five years ago — may not subside significantly anytime soon.

Congress cuts food stamps; keeps subsidies to rich donors and own members

The farm subsidies bill passed. It would cut food stamps by around $800 million a year and continue generous farm subsidies to Congressmen, crop insurers and Agribusiness firms. Half of Congress are millionaires already. House members happy to cut food for poor and help their donors and large corporations keep profits high. Insurers put an end to any limit on the crop insurance premium subsidy. Farm corps guaranteed a profit even if they fail. Read it with shock and awe: http://ccagw.org/media/press-releases/ccagw-farm-bill-it%E2%80%99s-dung-deal Socialism for rich!

Collect up to $6,000 even if you owe NOTHING in federal income tax

Did you work and earn less than $51,567 last year? You could receive EITC as a tax refund if you qualify. Families with qualifying children may be eligible for up to $6,044. Use the EITC Assistant tool on IRS.gov to find out if you qualify. If you do, file a tax return and claim it. If you don’t qualify, earn tax-FREE gains on your retirement nest egg: http://www.amazon.com/Tune-your-401k-EARN-Tax-FREE/dp/1490591028/

How much does your advisor/wealth manager earn?

See if you are getting your money’s worth by comparing average income—commissions, bonus, salary, perks, etc. http://data.investmentnews.com/comp-staff/

You can probably do better on your own since your net is after their expenses. John Bogle has estimated that your nest egg could be reduced by 63% with all the costs taken out of your money over time. If you know what your goals are, you can reach them without Wall Street: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Three-quarters of Americans nearing retirement have less than $27,000 in their retirement accounts and one-third do not have any sort of retirement account at all.

Obama starts new savings plan for workers

In 1/28 speech, he asked “Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in.” Savings bonds will be purchased through payroll deduction and considered like an IRA but at low cost. Once a MyRA account hits $15,000 — or after 30 years — it has to be rolled over into a private sector Roth IRA. Unfortunately, savings bonds earn 1.38%—stocks are better long-term investments. You can have tax-FREE retirement income with the low-cost Roth IRA NOW:http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

How much are the gamblers at your bank paid?

The head of the NYS pension is petitioning the largest banks to ID their gamblers. How much do these people at the banks who could sink the banking system again make on commission for betting with our savings? Stockholders need to know. Banks object. The regulator SEC must decide if stockholders can ask for this info. “I think generally Wells [Fargo] and other financial institutions still need a change in the mind-set and change in the culture,” according to the pension comptroller. http://www.nytimes.com/2014/01/26/business/asking-banks-to-reveal-where-their-high-rollers-are.html?ref=fairgame&_r=0

Queen put on a budget—can’t make it on $51 mil a year—pays only min wage

The queen receives 31 million pounds ($51 million) a year from taxpayers. Commoners ask her to sell more tickets to the Palace to pay her fair share. But she is hiring. Needs someone to run the royal baths, dress her and arrange her tea. The successful applicant $27,490 a year post will also be responsible for "high quality cleaning, presentation and guest care" at Queen Elizabeth II's official London residence.

Commoners don’t understand why she can’t bath and dress herself if she can’t make it on $51 million.

What are your investment options when you leave employers?

What can you do with your 401k or other retirement money when you leave your employer? Consider all the options: big tax bill or free transfer or big fees for lucky advisor? You need to know the facts first.

http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/RetirementAccounts/P436001

Homeowners overcharged again

Louisiana Citizens Property Insurance may have to return $16 million to homeowner customers who, for years, were charged a $65 application fee without their knowledge.

Shop for insurance every two years. Rates and insurer marketing change.http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870/

GOP 2016 health plan would return to previous “bogus” health plans

Repeal of mandate means only wealthy can afford real comprehensive coverage. You could buy cheap insurance again but coverage not complete—no coverage for screening tests, wellness checkups, etc. Existing condition plans would allow insurer to charge whatever the market would bear. States would have the option NOT to cover some people.

http://www.foxnews.com/opinion/2014/01/27/republican-plan-to-replace-obamacare-cover-pre-existing-conditions-lower-costs/

Obama supports voting in ½ hour not 7 hours

Obama said his “bipartisan committee offered reforms so that no one has to wait more than a half hour to vote. Let’s support these efforts. It should be the power of our vote, not the size of our bank account, that drives our democracy.” GOP-run states have reduced our chance to vote. They use a number of methods to keep Dems from the polls. In OH and FL lines were very long—10 hours for some. Why would GOP do this except to limit Dems voting.  Only 26 voter fraud cases in US in years.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany. Are we preparing for WWII again? There are 1,208,083^[1] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

Your public employee pension may be less than promised

Moody’s bond analysts rank New Jersey’s seven public employee retirement plans as having the fourth highestunfunded liability total in America (behind Illinois, Connecticut and Kentucky. A state Treasury Department report (June 30, 2012) said the state’s pension plans covering 780,000 employees and retirees were pledged to pay out, over the long term, $41.7 billion in pension checks which the state lacks revenue to cover.

By the state’s own calculations, the pension plans are only 67.5 percent funded for the long term. The ideal level of funding, many pension actuaries say, is around 80 percent.

Christie claims he fixed the fund without taxes but Detroit said that too years ago.

20 kids EACH day are hospitalized for gun injuries—Wild West is back!

A study by Yale School of Medicine researchers shows that there are about 20 children hospitalized for gun injuries every day. 

Who owns your account now?

Wells Fargo agreed to sell more than 40 percent of its insurance brokerage locations to focus its bricks-and-mortar operations on higher-growth regions and bigger clients. The closings include six locations in West Virginia and offices in Dayton, Ohio; Boise, Idaho; and Anchorage, Alaska. USI, the buyer, is focusing on clients in middle markets. Wells Fargo Insurance, which brokers and consults on property-casualty coverage and employee benefits, will focus on cities including San Francisco, Dallas, Minneapolis and Charlotte, North Carolina. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Who does NOT pay taxes?

Who does NOT pay taxes?

44% of Americans don’t pay income taxes. The best way is to be really rich: take all your income from tax-FREE muni bonds, Roth IRAs, South Dakota income trusts and other tax evasion tricks only the rich can afford to set up. Many rich and over 2/3 of corporations have enough tricks to pay less tax than working-class Americans—under 15%--like Apple, Warren Buffett, Mit Romney, John Kerry and many members of Congress.

You don’t think they got to be millionaires and billionaires by paying the legal IRS rate of 39.5%, did you?

The only people who pay the rich people’s rate are average workers like Warren Buffett’s secretary. Her tax rate was 36% not counting her pension dues. http://abcnews.go.com/blogs/business/2012/01/warren-buffett-and-his-secretary-talk-taxes/

The poor don’t pay tax. Their wages are so low that the Earned Income Tax Credit (welfare) and child-related tax breaks offset what they owe. Another way is that your wages are so low that you are under the minimum society says you need to survive: in 2013, the minimum are $10,000 for single individuals, $12,850 for heads of household and $20,000 for married couples filing a joint return. Many seniors, especially women, receive less than this from Social Security and savings.

You can avoid taxes legally at low cost: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

1^st class postage went up 4.7% in 50 years—how is your savings?

In 1964, postage was 5 cents. In 2014 it is now 49 cents. Postage went up in price like everything else. Are your savings keeping up with inflation? Did your bank savings grow at 4.7% over this period? If not, you lose purchasing power and can’t afford a stamp. If you were investing $100 a month in the stock market during that time, you would have about $4 million today. It is TIME that makes money grow. Start now: http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455

Insurer now offers ‘sign up by text’

New quick enrollment from the Principal Financial enables individuals to sign up to save for retirement in minutes with a text message. "One of the easiest ways to save for retirement is through an employer-sponsored retirement plan, yet the biggest hurdle is simply getting individuals to sign up," said Jerry Patterson. "We know people have good intentions, but while many eligible employees say they are going to take action, many of those same employees don't. By making the process quick and convenient, we're able to battle inertia and get individuals to start saving right away." Typically, insurers provide the highest cost mutual funds in employer plans—ING, HSBC, Principal and Prudential are noted: http://www.fundsupermart.co.in/main/fundinfo/worst_Funds.svdo

Most funds don’t beat their low-cost index equivalent

Morningstar reported that 79% of large-cap mutual funds lost out to the S&P 500 Index. Low-cost index funds have the largest amount of investor funds and show consistent 10% plus returns long-term. Vanguard’s 500 Index costs 0.05% and has provided 11% average annual return since 1976. With modern investing, the best costs the least: http://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223

Youngest woman billionaire

Sheryl Sandberg’s fortune surpassed $1 billion today after Facebook’s stock closed at a record high, making her one of the youngest billionaires in the U.S.

Small cars are dangerous—one is ‘acceptable’

The smallest cars on the road carry the biggest injury risk in a common and deadly type of crash, a report released Wednesday reveals. Only one of 11 small city and minicars passed the Insurance Institute for Highway Safety's small front overlap crash test in which a car hits a barrier with the front driver's side corner at 40 miles per hour. Chevrolet Spark is the only car with ‘acceptable’ rating.  The worst performer was the Honda Fit, which earned a "poor" rating in the test along with five other models and all but one of the rest were "marginal." Thus, Spark is the only one in the group to earn the IIHS Top Safety Pick designation. However, there are safer cars for the money.

Supremes may kill union memberships

Home-health workers want the court to hold that permitting the unions to collect fees for representing non-members—the so-called “agency fee”—violates the First Amendment.

At least four members of the Court seemed ready to reach that “radical” result. The fate of public employee unionism in the nation seemed, by the end of the argument, to lie in the hands of Justice Antonin Scalia. Ouch. Unions negotiate benefits for non-paying and paying members. Non-payers will get free ride until unions fold. Membership is already falling and losing political power. Is this the end?

Employees reduced to part-time to avoid ObamaCare

Target said it will end health insurance for part-time employees, joining Trader Joe’s, Home Depot and other retailers that have scaled back benefits in response to changes from Obamacare. 

Shopping ObamaCare plans important to reduce premiums

A recent survey of plans demonstrated a wide range of deductibles and out-of-pocket cost caps called “stop-loss” amounts for similar plans.

In order to demonstrate the range of cost-sharing within each health plan tier, HealthPocket examined the lowest to highest deductibles and out-of-pocket caps for the new Affordable Care Act health plans in 34 states. In three of the four health plan tiers (bronze, silver, and gold) HealthPocket saw deductible ranges spanning thousands of dollars among insurance policies belonging to the same category. The largest range was within silver plans where the lowest deductible recorded was $0 and the highest was $6,250. The smallest range was among platinum plans where the lowest deductible was $0 and the highest was $1,000. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany. Are we preparing for WWII again? There are 1,208,083^[1] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

No unemployment insurance for the uninsured

Congress maintained their lobbyists’ favorite pipelines after Christmas but not for those laid off by the outsourcers and “job creators.” House Republicans counter that they have approved legislation they say would spur job growth—cut tax and regulation on toxic spills and raise the deficit.

"You see a mentality among the Republicans and their leadership that basically says when people are down and out and need a helping hand, we're not going to give it to them because they're lazy, and the only way to get them up off the couch and away from the television and off to work is to stop sending unemployment checks," said Senate Majority Whip Richard Durbin, D-Ill.

Congress put itself back on the couch and took a week off after 1 week back. Great jobs!!

Can Congress stop taking paychecks for no work and pay for unemployment benefits?

Here is the money to pay for unemployment benefits!!

The IRS still held an estimated $917 million in unclaimed federal tax refunds for 1 million workers who didn’t file taxes in 2009.

Boss gives himself a raise despite bad behavior

Despite the legal troubles that JPMorgan Chases faced in 2013, which amounted to more than $20 billion in fines, Jamie Dimon, the bank’s chairman and chief executive, is getting a raise.

Most of the unemployed could do that job! Get $20 billion fine and ask for more pay.

Taking responsibility by NOT

Freedom Industries, responsible for the chemical leak that left portions of West Virginia without water for days, filed for Chapter 11 bankruptcy. So much for taking responsibility by “Freedom” industry execs. “Freedom” owes more than $2.4 million in unpaid taxes and roughly $4,000 in unpaid unemployment compensation insurance. It appears that the officers have been FREE from responsibility many times in the past. http://online.wsj.com/news/articles/SB10001424052702303819704579316951855899732

How do criminals get lines of credit for this operation?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

New Year savings plan

New Year savings plan

If you received a tax refund last year—the average was about $3,000—start this year by taking the refund early. Instead of overpaying your income taxes in 2014, invest the refund during the full year. Set up an auto contribution at work if your employer offers 401k, 403b or other retirement plan. Use a W-4 http://www.irs.gov/pub/irs-pdf/fw4.pdf to INCREASE your allowances on line 5 and submit to your employer. This will reduce the amount of tax withheld each paycheck and increase your take-home pay. If you had a refund of $3,000 last year, your monthly investment could be $250. Or set up your own IRA with a low-cost mutual fund firm and have them deduct $250 from your checking account. You could grow your $250 a month into $250,000 in 20 years, $800,000 in 30 years, $1 million in 32 years. The best plan is the simple plan: http://www.amazon.com/Keep-Simple-Essential-Financial-Life/dp/1492258849/

 

If you already have your W-2, file early for quicker refund

Many people don’t have complicated tax situations and don’t need to pay someone to file. If you have wage income and don’t own property, it is a matter of filling in the forms online. You may qualify for FREE tax prep and FREE efile. Check the companies that offer this: At IRS.gov/freefile, select the “Free File Software” button. Each of the 14 Free File companies sets specific offers – generally based on income, state residency and age – to use their software. If your income is $58,000 or less, you will find at least one, if not more, offers available to you. The fastest way to get your refund is with direct deposit. Once the IRS begins processing returns Jan 31, it expects to issue more than 90 percent of refunds in fewer than 21 days: Most in 10 days.

Check “Where’s My Refund?” for personalized refund information based on the processing of your 2013 tax return. You can start checking on the status of your return within 24 hours after the IRS accepts your e-filed return.

 

Beware: Advisor/broker examiners budget cut—We are at their mercy!

Fewer financial advisors will be checked by regulators this year due to budget cuts at the SEC. This means that your advisor may be able to move money around unawares again. No one is checking on how they manage your money except you. Madoff was able to avoid discovery because no one asked about the clients’ accounts.

Congress is also asking regulators to tone down the rules about doing-what-is-best-for-your-client standard. The broker lobby is concerned that the pending rule that would raise investment advice standards for retirement-plan advisers could hurt investors with modest assets. Raising the standard of client care would seem to help not hurt investors.

 

Long-term care insurance price hike

A 60-year old couple each purchasing $164,000 of current protection that will grow to $730,000 combined when both reach age 80, will pay an average of $3,840 yearly, a three percent increase over the prior year's average. "Adding an inflation growth option builds your benefits over time but it can double the base cost of coverage," an analyst said. Couple discounts reduce the cost of coverage because usually only one of them makes a claim. Without inflation protection, the benefits can be half the expected amount. So the cost is closer to $6,000 per year. Since you may not need coverage for 25 years (average claim date), you are paying $150,000 for $730,000 that you may never use. Consider more flexible options: http://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X/

 

Lobbyists start to derail ObamaCare one wheel at a time

U.S. Chamber of Commerce will no longer seek the repeal of the Affordable Care Act, working instead to correct what it sees as its flaws. For instance, the Chamber wants a change to the law’s definition of full-time employees from those working 30 hours a week to those working 40 hours or more. Thus all employers would limit hours to 39 per week to avoid the mandate. The Chamber would also like to see the ACA's health insurance tax and medical device tax repealed and will explore how the law's transitional reinsurance fee might be financed in a different way. Business lobbyists will start modifying each part of the health care coverage so it reduces the law’s effectiveness. You can join in: Future Lobbyists begin their 2014 classes Jan 27 with PAC’s and Campaign Financing, Lobbying 101, Online Advocacy, etc.

 

GOP plans further attacks on ObamaCare despite industry acceptance

President Obama's health care law may have gotten off to a rocky start, but executives of major private health insurance companies are informing investors that they're still betting on the program in the long run. On the other hand, U.S. House Republicans plan to introduce a bill to swap President Obama's healthcare law for a lower-cost, "patient-centered" system, Speaker John Boehner said. GOP also promises to reform taxes. "We believe in tax reform. Closing loopholes, getting rid of unnecessary deductions, lowering rates will be good for our economy and help create more jobs," Boehner said. Oil and gas and agribusiness subsidies were not mentioned.

 

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan  and 50,000 in  Germany . Are we preparing for WWII again? There are 1,208,083^[1] personnel in the  United States . Our taxes pay for about HALF of the WORLD’s military expenditures every year. It is no wonder we're in debt.

 

Bailout of mutual funds too?

Banks are not the only institutions that we may have to bailout. There are mutual funds that use high leverage to try to gain an edge in investment returns, especially the “hedge” funds that the wealthy own. There $53 Trillion in these funds and some are buying and selling derivatives in secret and outside regulators view. This makes tax payers vulnerable again because if a large one collapses, its contracts could put our financial system at risk. Wall Street execs in the government will want to save their friends paychecks like GoldmanSachs’ Paulson did as US Treasurer in 2008’s global meltdown. The wealthy will expect us to save them from their gambling debts … again. http://www.nytimes.com/2014/01/12/business/bailout-risk-far-beyond-the-banks.html

 

Billionaire Baby Beanie mogul faces jail to avoid paying tax of 4%

The federal charge alleges that the inventor Warner earned more than $3.1 million that he failed to report on his 2002 tax form. He failed to pay $885,300 in taxes owed for 2002. That is under 4% of his assets.

Beanie Babies, sold for $5 to $7. At their peak of popularity in the 1990s, some collectors would pay hundreds of dollars for a rare character on the resale market, according to press accounts. Warner's net worth was listed as $2.6 billion in 2013, according to Forbes. 

 

Who owns your account now?

Jim Beam and Maker’s Mark bourbons to  Japan ’s Suntory.

Budweiser to Brazil's InBev

 

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Take the Buffett challenge

New Year investment plan

Start this year with a plan. Invest slowly and be patient. The goal is to have $50,000 tax-FREE in 10 years. Create an account at a low-cost mutual fund and send $50 the first month, then $100 in a month or two, then your tax refund in April. If you have no refund, send $200, then $250 by June. Make your contribution of $250 a month automatic by having the trustee debit your account directly. Forget trying to time the market—just keep investing in the diversified top 500 companies. Billionaire Warren Buffett has made the same bet and he is winning. So can you! All it takes is patience he says.

http://www.amazon.com/Meek-Patient-Shall-Inherit-Earth/dp/1492869538

Tax Prep help

YouTube videos to help prepare taxes for the upcoming filing season, which begins on Jan. 31. Get refunds as easily as possible. Many software companies are expected to begin accepting tax returns in January and hold those returns until the IRS systems open on Jan. 31. This includes the Free File partners that offer access to their software for free at irs.gov/Free File. The IRS will not process any tax returns before Jan. 31, so there is no advantage to filing on paper before the opening date. Taxpayers will receive their tax refunds much faster by using e-file or Free File with the direct deposit option. http://www.youtube.com/irsvideos

“Safe” investment lost 28% of value

At its current price of $1,202 an ounce, gold has lost 28 percent of its value this year, the worst drop since 1981, when it slumped 33 percent. No one investment is right so we DIVERSIFY: http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455

Wealthy convert IRA to tax-FREE Roth IRA

Conversions from regular IRAs to Roth retirement accounts increased more than nine times in 2010, rising to $64.8 billion from $6.8 billion in 2009, according to the IRS. Conversions were particularly common among IRA holders with annual incomes exceeding $1 million. More than 10 percent of them converted to a Roth account. The increase in conversions stemmed from a 2006 law that set 2010 for ending a $100,000 income limit on Roth conversions. There’s no ceiling on conversions if an investor has multiple individual retirement accounts and no cap on the amount that can be shifted. You may convert any part of your IRA to a Roth and earn tax-FREE income for life. You don’t need to take distributions at age 70.5. Perfect legacy planner: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Myths of Wall Street

Myth: the lower corporate taxes are, the more companies can invest and stimulate the economy. That’s not how it works. Among the 34 developed countries in the OECD, the average corporate tax rate had little bearing on economic growth. Norway Chile Estonia grew at high rates with the same tax rate as US. US firms are sitting on more cash than ever before. Many multinationals are keeping their cash overseas to avoid taxes. Consumer demand (employed middle class) drives economic growth not corporate taxes.

http://www.businessweek.com/articles/2014-01-02/correlations-high-corporate-taxes-economic-growth-can-coexist

SCAMS           We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany. Are we preparing for WWII again? There are 1,208,083^[1] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. 

Why are we still paying $700 Billion a year for WWII deployments?

Banks can still destroy our economy and we will still pay for their mistakes

Reforms have not limited their gambling incentives and foreign banks pose even greater risks since we don’t control the interconnectedness of the global betting parlor. http://www.nytimes.com/2014/01/05/business/a-roadblock-to-brawny-bank-reform.html?_r=0

Bank leverage is still too high—taxpayers can’t afford the losses again. Congressmen just can’t afford to say “no” to all that lobbyist funding—$1/2 Billion

JPMorgan will pay $2.6 billion in civil and criminal settlements for its role in the Madoff fraud case. Morgan says they didn’t know anything about his money laundering even though he used Morgan for 20 years. Again, no bankers go to jail.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

New Year smart money moves

No more money mistakes: New Year smart money moves

Since you don’t want to make any more mistakes, you first need to know the score—your credit score and report. Go tohttps://www.annualcreditreport.com/index.action for your truly free report. You can obtain your FICA credit score FREE fromhttp://www.freeficoscore.com/ during the 10-day FREE trial but you must call to cancel in two weeks. Get score and then cancel immediately or it will cost you more than it’s worth. Check your reports for accuracy (80% are wrong) and correct them. Learn how to avoid the mistakes that lead to financial disaster: http://www.amazon.com/10-Worst-Money-Mistakes-them/dp/1494401223/

Most married couples will need income to age 90

According to Social Security, at least one member will make it to age 90. One in four seniors will hit 90 and one in 10 will break 95. Are you ready? Make your income tax-FREE so it will last longer: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

Our readers’ choice funds maintain long-term average 10-12% return

2013 total return was over 30%. It raised their average to 12% again. Some of our readers never sell. They are rewarded for long-term growth and diversification. Retirees move assets to Wellesley Income fund for safety. Most readers pay less than 0.40% for high returns in index and managed Vanguard funds. It is possible to have enough for a retirement of 30 years. Most advisors, charging 1-3%, have promised single-digit returns from now on. Do-it-yourselfers do better. Simple: high costs reduce your returns.

2013 Total Return       Fund                Long-term Return*       Longevity

32.3%                          500 Index        11.0%*                        since 1976

18.4%                          Energy             13.2%                          since 1984

38.4%              Extended Market         11.2%                          since 1987

43.2%                          Health              17.1%                          since 1984

23.0%              International Growth   11.2%                          since 1981

39.7%                          PRIMECAP     13.7%                          since 1984

37.6%              Small Cap Index          10.9%                          since 1960

  9.2%              Wellesley Income        10.1%                          since 1970

36.1%                          Windsor          11.6%                          since 1958

30.7%                          Windsor II       11.1%                          since 1985

30.9%                          Average           12.1%

*Average Annual Returns as of 12/31/13.

Wealthy people don’t pay their fair share of taxes—and Congress allows tax trick

Rent-a-tax-shelter “address.” In the past four years, the amount of money administered by South Dakota trust companies like these has tripled to $121 billion, almost all of it from out of state. The families needn’t actually move to South Dakota, or deposit their money at a local bank, or even touch down in the private jet. Little more than renting an address in Sioux Falls is required to take advantage of South Dakota’s tax-friendly trust laws.
States like South Dakota are “creating laws that are conducive to a massive exploitation of a federal tax loophole,” said Edward McCaffery, a professor at the University of Southern California’s Gould School of Law. Bankers estimate that one-quarter of their business comes from special vehicles known as “dynasty trusts,” which are designed to avoid the federal estate tax forever. Thatdefies the spirit of the estate tax, enacted almost 100 years ago to discourage the perpetuation of dynastic wealth.

Still others are drawn to South Dakota’s iron-clad secrecy and protections of trust assets from creditors and ex-wives. Obama has called for closing the dynasty trust loophole in annual budget proposals but Congress has not.

Study says we are not prepared for next financial crisis—Why?
Turf wars and big money lobbyists make preparation difficult. America runs on business exuberance and boom-bust is part of business system.

http://www.reuters.com/article/2013/12/22/us-financial-regulation-ofr-insight-idUSBRE9BL04Y20131222

Most GOP reject evolution science—House "science" committee rejects science

33 percent of Americans reject the idea of evolution, saying that "humans and other living things have existed in their present form since the beginning of time," a new study says. "The gap is coming from the Republicans, where fewer are now saying that humans have evolved over time," said Cary Funk, a Pew senior researcher who conducted the analysis. The poll showed 43 percent of Republicans and 67 percent of Democrats say humans have evolved over time, compared with 54 percent and 64 percent respectively four years ago.

America split in two over facts? Is world flat? Did aliens build pyramids? Most aren't sure!

Apple says it never helped NSA bug our phones

Apple said in an email to AFP that it "has never worked with the NSA to create a backdoor in any of our products, including iPhone. Sure.

Uninsured will be covered

Nearly 6 million people are newly insured -- 2.1 million privately insured and 4 million in government insurance plans -- U.S. health officials said. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

One Supreme says OK to keep the “pill” away from the nuns

Supreme Court Justice Sonia Sotomayor has offered a reprieve to some Catholic groups who want to opt out of the Affordable Care Act's contraceptive mandate. In her order, Sotomayor said the government is temporarily prevented from enforcing contraceptive coverage requirements against the Denver-based Little Sisters of the Poor Home for the Aged.http://www.littlesistersofthepoordenver.org/

“The president believes that no one, including the government or for-profit corporations, should be able to dictate those decisions to women,” Jay Carney, the White House press secretary, said last month. Church groups were already exempted from the mandate.

But I thought that the nuns took vows about this kind of activity?

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.

Financial crimes scorecard

Only 7 of 31 corporate executives have returned their ill-gotten gains from the financial meltdown of 2007-08. Most have proved that crime pays—especially big-time crime.

If we had done what they did you would have been in jail for 25 years.

Our Taxes Wasted on a $120,000,000 Parking Center

GOP Coburn admits he and his colleagues wasted $30 Billion this year. Read and weep.

http://www.coburn.senate.gov/public//index.cfm?a=Files.Serve&File_id=d204730e-4a24-4711-b1db-99bb6c29d4b6 Yet not one red cent for the unemployed!

Our taxes saved Chrysler for FIAT to take

U.S. automaker Chrysler will become fully owned by Italy's Fiat under terms of an agreement announced Wednesday that also involves the United Auto Workers union. It cost us $1.3 Billion in taxes to dump Chrysler on FIAT.http://money.cnn.com/2011/07/21/autos/chrysler_government_exit/

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