Nothing is the Way
it Seems on Wall Street
Warren
Buffett has turned his $6,000 paper route earnings into $60 billions
during his lifetime. He credits compounding
NOT stock trading for his success. He does not "play" Wall Street's
games.
He says: "The market
is a way to transfer money from the impatient to the patient."
The odds of the average trader and investor becoming wealthy
from their "play" are very long. The owners structure the odds so
that they don't lose. The winners have information we don't have.
Compounding
is our investment edge. Buffett’s way makes us rich from patience.
Is your bank a pain in the wallet?
Midwest-based TCF National Bank has by far the highest
ratio of complaints to total deposits, with 24.9 complaints per billion
dollars of deposits. Sovereign Bank (9.1 complaints per billion of deposits)
and Capital One Bank (6.5 complaints per billion of deposits) ranked second and
third, respectively. Buy only what you need and save: http://www.amazon.com/Get-What-You-Pay-financial/dp/1492384100/
Easy explanation of
ObamaCare Exchange plans
There are 4 levels
of service and cost. There is a smoking penalty. States provide specific
Exchanges offerings from private insurers. You are buying at a group discount.
Your services are standardized so insurers can’t cheat. Buy only what you
need. http://finance.yahoo.com/news/choose-between-bronze-silver-gold-123000025.html
GE LTCi rates go up,
again
Genworth Financial announced that it has begun filing for
long term care insurance in force premium rate increases on certain Privileged
Choice and Classic Select policies sold between 2003 and 2012. GE says: “Although
these policies have generated positive operating earnings to date, the premium
rate increase on these policies will help offset lower than priced-for returns,
primarily due to improvements in life expectancy and lower-than-anticipated
lapse rates. These premium rate increase requests are being made in addition to the premium rate
increase filings announced in 2012 on certain older blocks of in force long
term care insurance policies.” There are alternatives:
http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X
ObamaCare premium average $328 BEFORE subsidy
Americans will pay an average premium of $328 monthly for a
mid-tier health insurance plan when the Obamacare health exchanges open for
enrollment next week, and most will qualify for government subsidies to lower
that price, the Obama administration said on Wednesday. States with the most
uninsured like TX, have lower rates: Texas
has been among the Republican-led states most fiercely opposed to Obamacare,
but its monthly rates came in below the national average, HHS said. In Austin ,
Texas
Maybe this plan ain’t so bad!
SCAMS “Deficits
don’t matter” Republican godfather, Dick Cheney, 2002
Medigap owners overcharged by 4 insurers
Four insurers will pay a total of $2.2 million in
restitution to holders of Medigap policies after the companies overcharged the 3,475 seniors,
violating state law by failing to dedicate the required amount of premium
payments to medical bills instead of administrative costs and profit.
The companies -- American Progressive Life
and Health Insurance Co. of New York, Excellus Health Plan of Rochester, First
United American Life Insurance Co. of Liverpool, and Transamerica
Financial Life Insurance Co. -- will pay refunds
averaging $624 per policyholder. Checks are scheduled to go out
beginning Monday.
The state law
requires that at least 65 percent of premium
dollars for individual policies and 75 percent for group policies go to medical benefits. For nonprofit
companies, the requirement is 80 percent. Insurers forget why in business!
We paid agribusiness corporations a record $17 billion
because their profits were low!!
As of early August, indemnities for 2012 losses under the
federal crop insurance program stood at a record $17.396 billion. Most
recipients are large corporations whose profits were less than last year and we
make up the difference to them. http://www.agweb.com/article/policy_journal_Sept2013/
IAN
41 Watchung Plaza, B242
973.746.2014
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