Banks caught helping tax evaders want bailout

Banks caught helping tax evaders want bailout

Swiss banks seeking to avoid U.S. prosecution by disclosing how they helped Americans evade taxes have asked the Justice Department to back off a dozen demands. 

Working Americans don’t need a Swiss tax shelter: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520

Do you receive tax credits for your “donations”?

There have been reports that companies donating to the Republican Governors Association were more likely to get incentives from New Jersey, whose governor, Chris Christie chairs the association. Lockheed Martin reportedly donated $50,000 to the association and then applied for $100 million in tax credits over 10 years in return for expanding in Camden. Why is Christie holding 80% of the Sandy recovery money?

Make your retirement income tax-FREE too: http://www.amazon.com/Tax-FREE-Retirement-lifetime-income/dp/1475206976

Is this a good time to invest?

I get this question all the time. Who knows? NO ONE. If you listen to media commentators who are paid to tell your fortune, you might get greedy or scared. Fear of stock market activity keeps many from investing for retirement. Don’t listen to them. They are paid to talk but no one can foretell the future. If we can’t know the future, consider your wealth-building alternatives—bank CD? If you need $40,000 a year in retirement, how can you get it? Advisors can take up to 63% of your long-term accumulation so don’t bother them. Your low-cost plan at work may provide an easy way to invest automatically. Fidelity found that their 401k accounts reached $1 million (provides $40K a year for life) by investing for 30 years in low-cost mutual funds. Same with low-cost target date funds. We can’t control the market but we can control costs.

There is no “best” time to invest. Making equal contributions to low-cost funds is the only way to be successful, according to Unbiased (already) millionaires: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082

Do you really need an advisor/broker?

A recent survey found that 36 percent of investors with under $1 million don’t believe an advisor would represent their best interests, and 31 percent said they don’t have enough assets to interest an advisor. Also, 28 percent said they could do a better job than a paid advisor, 27 percent said they could not afford an advisor, 15 percent said they didn’t know who to turn to for an advisor, and 9 percent said they get help from friends and family.

Advisors/brokers are not necessary anymore. Trading is gambling, not investing. Buy 10 low-cost mutual funds for the rest of your life and earn over 10% a year: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Employers sued for charging high fees

It’s getting easier for retirement plan participants to win fee suits, says a senior advisor for the American Society of Pension Professionals & Actuaries. They are having more success because their lawyers are arguing more effectively in court by making a point of showing what fiduciaries should have done but didn’t do, said Ilene Ferenczy, ASPPA.
Participants are also faring better because their attorneys more often are demonstrating how trustees are costing them money by allowing excessive fees, Ferenczy added.

"In every single time period and data point tested, low-cost funds beat high-cost funds." 

Check your employer plan for costs at http://www.brightscope.com/ratings/G/

Do your own low-cost tax-FREE plan: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

GOP crazies

Joni Ernst is running in IA and says she will make Congress squeal when she gets there. She also said she will shoot anyone with her 9mm (including the government) who tries to take away her rights. She might be inciting armed rebellion against the US or warning police that she will shoot if they come to arrest her for a crime. Is she against rule of law?

Her advert says she likes to kill pigs.

Will she cut pork (subsidies) from IA farmers as well as their health care?

KOCH Bros have spend $290 million to buy midterms for GOP so far.

GOP crazies

Turns out that most GOP do believe in climate change by man. They just can’t say it in public because they fear the TEAs. In fact, House Republicans passed an amendment to the annual National Defense Authorization Act forbidding the Defense Department from spending money on any climate-related initiatives, including planning programs. However, quietly, GOP-led Pentagon has been training for climate change since 2010 because they NEED to be ready. A new report should be read by every GOP voter just so they know the facts, not the TEA’s version.

Sarah Palin hopes to run for office again some day. GOP excited?

DEM crazies

Obama faces new Senate, the TEAs, Ebola, ISIS, Syria, drones, immigration, Ukraine,  etc. Can any other problem be handled?

What is his legacy?

Sam’s Club Launches Health Insurance Exchange for Members

Aetna Marketplace for Sam’s Club is the first mass retail-supported private healthcare exchange designed to meet the needs of both small business owners and their employees, according Wal-Mart. It provides Sam’s Club business members that have two or more employees with exclusive access to personalized plan tools and resources from Aetna.

Pool of small business may save money. But buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Lexus most reliable vehicle, again

Consumer Reports has just released this year's ratings of the most and least reliable new cars and carmakers. Mazda, Honda and Subaru joined Toyota in the top ten. Audi was the highest scoring non-Japanese brand, while Buick was the only domestic brand in the top ten. The recently merged Fiat Chrysler fared worst in the rankings, with its Dodge, Ram, Jeep and Fiat brands in the bottom four spots. The new nine-speed transmission in the Jeep Cherokee was among the company's headaches.

Shop for insurance every 2 years and save: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

ObamaCare after 1 year—more Americans have health care—Kentucky example

Americans who never had health care now do have health care. They no longer have to go bankrupt if they seek help. Why are GOP against a healthier America?

Reenroll on NOV 15: http://marketplace.cms.gov/outreach-and-education/marketplace-application-checklist.pdf

Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Are you supporting your adult child?

“Research shows that Millennials have weathered the most significant repercussions from the recent economic downturn. While Millennials are the most educated generation in history, nearly 4 in 10 are unemployed and many more are underemployed,” said Deb Dupont, associate managing director, LIMRA Secure Retirement Institute. “Parents of Millennials, even those over the age of 22, are providing considerable support to their children at a time in their lives when saving from retirement should be a priority.”

The study also found that 57 percent of U.S. households with adult children have at least one adult child living at home. Nearly three quarters of households with adult children ages 18-22 have at least one adult child residing in their home.

Leah learned to live with friends: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408 Makes a great present too.

Is a child or grandchild trust right for you?

If you feel they can’t handle your entire legacy after you are gone, you can have a relative AND trustee firm invest and release the money according to your wish and their joint judgment. Low-cost mutual funds will make your money go farther—release for college, age 25, 30, etc. Most mutual fund firms can provide the trustee services for small annual fees (0.75%). Have an accountant or lawyer write the trust. Make transfers part of your plan: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Small Business Health Options Program launched in five states.

The business health exchanges will open in Delaware, Illinois, New Jersey, Ohio and Missouri in late October. Small employers will be able to use Healthcare.gov to do such things as establish a profile, assign an agent or broker to their account, complete an employer eligibility application, and browse plans and pricing when they become available. The states that will not offer employee choice in 2015 are Alabama, Alaska, Arizona, Delaware, Illinois, Kansas, Louisiana, Maine, Michigan, Montana, New Hampshire, New Jersey, North Carolina, Oklahoma, Pennsylvania, South Carolina, South Dakota and West Virginia.

AZ school system bans contraception info because 1 parent objected

Gilbert Public Schools board, which covers at least 38 schools and 39,000 students mostly in Chandler and Mesa, voted 3-2 on Tuesday night to excise two pages about contraception from "Campbell Biology: Concepts and Connections." The text now says that abstinence is the only fail-safe birth control method.

Is it better for the children not to know what happens if they ‘experiment’ with sex?

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 have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.

We just can’t afford to pay for everyone else’s defenses anymore.

Japan, Germany and S. Korea can pay for their own defenses.

Fed tells banks to change bonus behavior

Bankers are given a big check when they make deals that are bad—even those that could destroy our way of life. (Bankers can afford to move offshore.) Regulators want banks to paying fat checks over time. Banks need to have the bankers themselves pay for the damage—losses and fines. GREAT IDEA! Gee, I wish I had thought of that!?  

In fact, every broker/advisor/agent should follow same regs.

Court makes suing corps for bad behavior even more difficult

Shareholders used to have the ultimate control over their corp behavior. Violations could be redressed by suing officers. But now the corp home court has quashed that “checks and balances” strategy. Hoping to achieve greater accountability wronged investors have filed many cases against top corporate officials, accusing them of breaching fiduciary duties and of other misdeeds. But even this enforcement mechanism is under attack, thanks to a recent decision by the Delaware Supreme Court.

Noah L. Myers, 43, an investment advisor from Lyme, Conn., pleaded guilty in federal district court to securities fraud for operating a cherry-picking scheme that benefited him and hurt his clients. He credited the most advantageous client trades to his own account.

Merrill Lynch was fined for allowing short-sellers to dump stocks without making sure they had first arranged to borrow the shares. 

Who owns your account now?

Southpac Life Insurance to Advantage Insurance Holdings Ltd.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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