Friday, June 6, 2014

Tax-FREE income means 25% MORE

Tax-FREE retirement income means 25% more
Today we can reduce taxes 10 ways and make sure we are protected by creating an inflation-proof retirement. We need to enter the last 30 years of our lives knowing how we are going to manage it. We need a realistic and flexible plan we can execute ourselves. Financial advisors only want wealthy clients. Most of us are on our own.
    I will guide you through the process. We must create two budgets; avoid income taxes as our money grows; and invest in a way that provides a growing income for 30 years or more. We don't need a broker or advisor. In fact, their fees often take 40-60% of our nest egg over time. 
      Our first task: Re-position assets for lower fees and taxes.

What makes a successful mutual fund?
This is the only question to ask your advisor when you review your holdings. Recent analysis by Morningstar, unbiased fund evaluator, says that the current top funds will not succeed in the next five years. “… in 2008, stock funds with the best past performance generally did not fare well in the subsequent five years.” The best predictor of success: COST. John Bogle discovered this in 1974 and created Vanguard, the largest fund firm. Buffett agrees. You keep the fees and keep more:

Doctors reading writing on the wall of Health
American physicians are leaning more left, an analysis of campaign contributions over two decades show. The first rigorous look at donor doctors also finds they've become increasingly generous, with political contributions surging to almost $200 million in recent years. An increase in female doctors — who more often than men donated to Democrats — and a decline in physicians working on their own or in small practices occurred during study years. Those changes likely contributed but reasons for the political shift are unclear, said study co-author David Rothman, a social medicine professor at Columbia University's medical school.

ObamaCare critics change mind after coverage
Bonnita Spikes entered the political fray when she was featured in gubernatorial candidate Douglas F. Gansler's April radio ad lambasting Maryland's problem-fraught health exchange. But as irritated as she was with the implementation of the Affordable Care Act in Maryland, she's been much happier with the treatment she's received after she finally enrolled. Now Spikes has lent her voice to a publicity campaign praising the health reform effort. Save:

Annuity seller goes to jail
Alan S. Lewis faces 20 years for embezzlement, grand theft and burglary of seniors’ retirement funds. He is accused of selling fixed index annuities with a surrender charge. Lewis induced 12 seniors into surrendering individual retirement accounts or annuities for a “less favorable” annuity, according to court documents. The clients incurred a surrender charge that Lewis promised would be offset by the bonus of a replacement annuity. They all lost over $300,000.

Advisors caught lying about returns
ZPR Investment Management and Max Zavanelli fined $1 million and barred from selling for claiming his firm’s historical performance results outperforming the benchmark index. He says he was “shocked” by the ruling.
Almost 90% of advisors can’t beat the index.

Brokers dodge customer complaints with bankruptcy
A John Thomas Financial broker, Scott Levine, was granted a moment of reprieve earlier this month, thanks to a bankruptcy filing on May 13. After incurring multiple customer complaints related to his former firm, which was expelled by the Financial Industry Regulatory Authority Inc. in October 2013, bankruptcy protections afforded by federal law have frozen five customer complaints in which he was named and which carry damage claims that could total nearly $5 million.
Brokers don’t know what the future brings despite what they say:

American youth abandon Dream
Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it's impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs. Some 63% of all Americans said most children in the U.S. won't be better off than their parents. This dour view comes despite most respondents, 54%, feeling they are better off than their own parents. Home ownership is no longer part of the American Dream.

College costs up 1200% since 1978; Graduation rate down
According to data from the U.S. Bureau of Labor Statistics, the price index for college tuition rose almost 1,200 percent from April 1978 through April 2014. Consumer prices overall rose less than 300 percent. This is, as one of Rossi’s talking heads says, “unsustainable.” Raising tuition at state U leaves students with unpayable debt, a problem that’s worsened by their seeming inability to graduate on schedule. Forty-four percent of people entering four-year colleges fail to get degrees even after six years. Only ¼ students passed algebra via the FREE online classes. Plumbers still get $150 an hour!

Is Reverse Mortgage right for you?
Sales pitch: Use equity in your home to pay bills and remaining mortgage. Live there for the rest of your life. Just pay taxes and insurance which you would anyway. BOOM, then comes the problems. Conditions change. You can’t pay. They want their money and more.

GOP socialism?
GOP crazies bring home the bacon
Southern states dominate the list of who benefits most from federal programs. After West Virginia, the rest of the top five recipients of federal money are: Mississippi, 24.0 percent; Arkansas, 22.8 percent; Kentucky, 22.4 percent; and Alabama, 21.8 percent.
What happened to GOP rejection of federal government?

Workers at catholic organizations must live life of celibacy or have kids not wanted
A federal judge has temporarily prevented the U.S. government from forcing nearly 200 Catholic employers to provide insurance coverage for contraceptives under President Barack Obama's health care law.

Terrorist switch to regular mail and ‘smoke’ signals
Vodafone, which has 400 million customers in countries across Europe, Africa and Asia, said in its "Disclosure Report" on Friday that countries in its reach are using similar practices to the US and Britain—tape all calls. While most governments needed legal notices to tap into customers' communications, there were six countries where that was not the case, it said. We are ‘catching’ all the wrong folks.

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] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.
We just can’t afford to pay for everyone else’s defenses anymore.

Yes, it is true. The sports associations, along with insurers, developers, banks and the U.S. Chamber of Commerce, say their businesses could be wiped out by a Sept. 11-style attack, unless the U.S. government continues its program to help protect them against losses from terrorism. We have to pay for their insurance even though they are making record profits and CEO $ million salaries. The program guarantees federal reimbursement to insurers once the industry’s aggregate losses from a terrorist incident exceed $100 million. $100 million is chump change to these businesses. They can afford it more than we can.
They don’t want to extend unemployment or the minimum wage but this FREE subsidy is OK??

HOLD ON: Fracking may cause earthquakes under your home
While Reno and Azle residents have only reported around 30 earthquakes to the U.S. Geological Survey, area seismologists have recorded more than 300 quakes in the area since December — many too small for human detection — all clustered around area injection wells.

General Motors fires several employees, including suspended engineer Ray DeGiorgio but leaves attitude “Do not use these words” list—Defect, problem, recall, etc—intact.
“It’s the economy [of GM] stupid” These are the employees who could root out problems for the future cause they know them. 
“It’s the economy [of GM] stupid”
Let's take back the bonuses from the bosses back then instead!

PA Capital denies drugs to seniors—Real “death panels” at insurer not ObamaCare
Capital's "Medicare Advantage" plans and Medicare Part D, which covers prescription drugs frequently made faulty decisions regarding whether drugs prescribed by doctors were covered, causing customers to be unable to get the drugs, or to experience delays. In some cases, customers had to pay "inappropriate" out of pocket costs. In addition, CMS said Capital violated Medicare rules for handling customer appeals and grievances. In a letter to Capital, CMS said, "These failures pose a serious threat to the health and safety of enrollees."

Who owns your account now?
Protective Life to Dai-ichi Life Insurance, Japan

41 Watchung Plaza, B242
Montclair, NJ 07042

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