Congress allows corporations to evade taxes--we pay

Congress allows corporations to evade taxes--we pay for them

More tax dollars are leaving the country as more US firms demand tax breaks to stay. Walgreen got $millions in tax breaks from IL and then decides to leave. We are being blackmailed and Congress does nothing. Even Fortune magazine sees the collapse in tax fairness coming. Coast Guard rescues Miami-based Carnival distressed Triumph and avoids taxes to pay its fair share. These corporations use our ports, roads, courts, communities, military hegemony, banking and capital markets but don’t pay for them. Forbes blames our tax rate not being as low as 5%. The 1%ers already got their tax cut.

Don’t get stuck with their tax bill. Start paying your fair share:

http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236/

More drug firms escape taxes

AbbVie plans to buy Shire and base the new company in the U.K. to benefit from its lower corporate tax rate. The move is part of a wave of U.S. health-care companies looking to take advantage of European deals to lower their taxes. Also Mylan of Canonsburg, Pa., agreed to buy pharmaceutical assets from AbbVie's former parent, Abbott Laboratories that will create a new entity organized in the Netherlands. Tax considerations appear to be the primary driver in AbbVie's courtship of Shire. Shire's tax rate was 17% and AbbVie's was 22.3% a difference of only 5%.

Young women turn away from advisors—using internet tools and save

About 45 percent of baby boomers use a financial professional compared with 31 percent of Gen Xers and 15 percent of millennials. “The declining use of financial professionals may be due in part to the vast amount of investment research and tools available on the Internet, which millennials and Gen Xers are often more likely to use than baby boomers,” said Lori Fouché, CEO with Prudential Group Insurance. Nationally, only 31 percent of women use a financial professional, down from 48 percent in 2008, according to the Prudential study. With one in five women saying financial professionals don’t understand their needs, using jargon and a hardcore product sell is part of the problem. Women make better decisions when they find their own solutions. Cut out the middle person and Save: http://www.amazon.com/Personal-Finance-Online-middle-person/dp/1500522120/

Best mutual funds from last year fail for this year

For funds in the top quartile in March 2012, only 3.78% maintained that position in March 2014, a new study said. “Very few funds can consistently stay at the top,” according to the report, authored by the index provider's director of global research and design, Aye M. Soe. “The figures paint a poor picture of the lack of long-term persistence in mutual fund returns.”

This study confirms that there will always be a top performer for the year but you can’t use past performance to pick it. With 9,000 funds, one will always top next year’s list—just not predictable.

An unbiased Morningstar study of all funds showed that “In every single time period and data point tested, low-cost funds beat high-cost funds.” Cost is the best predictor.

Use Warren Buffett’s strategy: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Why your health insurance costs so much

Some health insurers pay their CEOs so much they make the top 10 on pay day. Aetna paid CEO over $36 million  so a good part of your premium goes to one man. Does he really help your health or even Aetna stockholder’s health? Could the company follow the rules just as easily without each patient having to pay $50 to $100 a year for this guy?

Obama cut deficit in HALF

The government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure. Obama presided over trillion-dollar-plus deficits during his first term as the economy struggled to recover from a deep recession and financial crisis. GOP Reagan, Bush I & II ran the deficit from 30% of GDP to 90% of GDP, as in WWII, at $17 Trillion! Two tax cuts for the rich and two undeclared wars.  

GOP Crazies

FL GOP caught changing voting map to suit GOP. Districts redrawn illegally according to judge’s findings. Even though there are more registered Democrats in the state, Republicans currently hold a 17-to-10 majority in Florida’s congressional delegation. Did Bush II “win” 2000 election illegally?

http://www.pbs.org/newshour/rundown/judge-rules-fla-legislature-broke-laws-congressional-district-maps/

Obama impeachment?

Sarah Palin declared last week that Obama should be impeached over the immigration crisis and other issues, a call that even Congressional Republicans have dismissed. “She wasn't a particularly good vice presidential candidate,” Holder said on ABC’s ‘This Week. “She’s an even worse judge of who ought to be impeached and why.”

“There’s a certain level of vehemence, it seems to me, that’s directed at me [and] directed at the president,” Mr. Holder told ABC News. “You know, people talking about taking their country back. … There’s a certain racial component to this for some people. I don’t think this is the thing that is a main driver, but for some, there’s a racial animus.”

The KKK uses bags of candy to recruit in SC

The imperial klaliff (political leader of the Muslim world) of the Loyal White Knights and said the effort was part of a recruiting event they hold three times a year. Kids found candy at door on Sunday morning with note "Save Our Land, Join the Klan." It had a phone number that led to an automated message discussing KKK efforts against illegal immigration.

GOP cuts IRS enforcement by 25%--we will have to make up for the tax cheats

The GOP-controlled House has voted to slash the budget for the Internal Revenue Service's tax enforcement division by $1.2 billion; a 25 percent cut that would mean fewer audits of taxpayers and make it more likely that people who cheat on their taxes will get away with it, especially if they have a lawyer/accountant.
 

GOP cuts securities regulator to halt advisor enforcement of fiduciary rule

House killed budget request for imposing the fiduciary rule (salesman must give best solution regardless of fees). SEC will not uphold ‘best for customer’ rule.

State Farm cancels 30-year homeowner because bad weather

State Farm, which has insured Metzler's property for 30 years, was declining to issue her a new policy. Too many claims, her agent said. Metzler, 74, was ticked off. Her neighborhood had been hit hard by extreme weather several times in recent years.

"It was ridiculous," Metzler said. "What do I do? Put a faucet on Mother Nature? Gee whiz." Homeowners met with Montana’s Commissioner to discuss claims disputes. Some had assumed a policy couldn't be canceled because of an act of God. Not true.

Non-renewal presents real problems for homeowners because once a customer had been turned away after multiple claims, it becomes difficult, if not impossible, to be picked up by another claim-weary company.

Brad Hilliard, a State Farm spokesman, said it “has to look at what it can reasonably cover.” Doesn’t matter how long a customer has been with the company or what kind of insurance they have. It is how many claims a customer has filed. Claims cost money. Shop for discounts every 5 years since loyalty doesn’t matter: http://www.amazon.com /Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Senate supports Supremes: our employer now decides which religious law we live by

The U.S. Senate turned back a Democratic proposal requiring for-profit companies to provide workers with insurance coverage for birth control even if the employer has religious objections. Five white guys’ religious views upheld.

Social Security office still verifies income

Social Security said its offices will continue issuing statements that recipients can use to verify their benefits. People sometimes need the information quickly to verify their income when applying for a loan or other government benefits, such as housing assistance. GOP cutbacks had scheduled to close offices in October but that plan was put on hold.

9 used cars with problems—avoid despite price discounting

Besides many GM ignition faults, theses 9 are losers. 

https://autos.yahoo.com/blogs/motoramic/9-popular-used-cars-with-dubious-reliablity-164308845.html

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 its own defense.

Ex-cop who shot dad in FL theater for texting is free on bond of only $150,000

It cost Tea Party leader $250,000 bond for doing MS GOP dirty tricks not MURDER. Ex-cop got No charge for shooting wife in hand. No charge for using gun in theater. Claims "self-defense." Family says he is not violent at home with guns!

Is your charity gift really a charity or scam?

IRS lists qualified charities online so you have no doubt.

http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check

AIG, the prime suspect in the 2007 financial crisis, is paid $650,000,000 by Bank America

American International Group will get at least $650 million in a settlement with Bank of America Corp. as the second-biggest U.S. bank seeks to end liability for faulty mortgages. AIG sold insurance to global institutions that bet on risky mortgages that went bad. AIG was bailed out by taxpayers and now reaped more profit from its bad bets.

Justice delayed is NOT justice

A dispute over a car damaged in an accident 18 years ago has led a Pennsylvania judge to order Nationwide to pay $18 million in punitive damages. It’s too late for the victims and only 1 week’s profit for Nationwide.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Is your variable annuity broken?

Is your variable annuity broken?

Insurers have been cutting future benefits or raising the price of these expensive products. The popular minimum withdrawal benefit now costs an average 1.25%, up from under 1%. That lifts the average base price to 3.7% you are charged EVERY year, no matter how well your investments do. And you may be restricted in how much your account can earn. Some insurers are now limiting stock exposure to 60% of your account. Thus “peace of mind” may cost more than you paid. Your alternatives are not good: transfer to another insurer or pay surrender charges. Better: annuitize now—putting the payments into a tax-advantaged account. Alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

Customize Your Insurance  -Save $3,000 every year

• Buy only what you need and save $3,000 every year.
• Accumulate $1,000,000 free of fees and taxes.
• Avoid the Wealth Killers.

The best guarantee of lifelong security is having money. Accumulating $1 million requires that we avoid high product and advisor fees, commissions, loads and … taxes—the Wealth Killers.

Since we need to buy protection—auto, home, health, life insurance—why not skip the “bells and whistles” and save $3,000 every year? We avoid fees by buying ONLY the financial services we need at a discount. We avoid taxes by using an IRS-approved tax-FREE account. We invest ALL our savings. We accumulate $1 million by leveraging the Miracle of Compounding over time. http://www.amazon.com/Customize-Your-Insurance-Save-every/dp/1490936440/

Insurers against gun-toting teachers

As more states enact laws allowing teachers or administrators to carry guns in schools, insurance carriers are threatening to raise their premiums or revoke coverage entirely. Guns in schools made no sense in the Wild West either. Remember, Dodge City banned gun-carrying within town limits (and schools). People kill with whatever is at hand. While the United States has overall rates of violent crime in line with rates in other developed nations; our homicide rate is, relatively speaking, off the charts. Data: http://www.chicagojustice.org/blog/reporting-as-the-201ccarnage-and-mayhem201d/2008_Murder_Analysis_in_Chicago_CPD.pdf

Who really benefits from all these gun sales?

The top 1 percent of households took 23.5% of all U.S income.

Q: Why do the rich get richer? A: Compounding of high investment earnings. Income includes dividends from shares of stock, rent, and profits from selling something for more than you paid for it. Once you have $1 million, you can let it compound in stocks etc at 10-12% and have $2 million in about 10 years, $4 in 20 and $8 in 30. You don’t even have to use a broker to make money. In fact, Wall Street usually takes more than it gives. http://www.amazon.com/Tune-your-401k-EARN-Tax-FREE/dp/1490591028

Big brother Data saves life (sentence)

An insurance company monitoring device that records when a car is started and stopped has helped clear a northeastern Ohio man in the suffocation death of his 7-month-old daughter. Twenty-eight-year-old Michael Beard was acquitted by a jury in Cleveland of murder and other charges. He was facing life in prison in the May 2011 death of Lynniah Beard. The prosecutors contended Beard suffocated the baby at 4:45 a.m.

But his attorney noted that the Progressive Snapshot device in his car showed he arrived and turned off the car at 4:44 a.m., and turned it back on three minutes later.

His attorney said that in those three minutes, Beard discovered the baby wasn't breathing and returned to the car to rush her to the hospital.

Brokers are against “best advice” rule for customers

A leading Wall Street trade organization told the Securities and Exchange Commission last week thatraising investment advice standards for brokers would force individual firms to spend millions of dollars to upgrade their compliance systems. You don’t want to wait for the government to force brokers to do the right thing. Use unbiased advisors at the major mutual fund firms for free and earn more.http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

America becoming a “banana” republic?

Hiring is exploding in the one corner of the U.S. economy where few want to be hired: Temporary work. From Wal-Mart to General Motors to PepsiCo, companies are increasingly turning to temps and to a much larger universe of freelancers, contract workers and consultants. Combined, these workers number nearly 17 million people who have only tenuous ties to the companies that pay them — about 12 percent of everyone with a job. The rise in temp and contract work shows that many employers aren't willing to hire for the long run. The number of temps has jumped more than 50 percent since the recession ended four years ago to nearly 2.7 million — the most on government records dating to 1990. In no other sector has hiring come close. 

The top 1 percent's share of national income is over 23 percent. The average inflation-adjusted hourly wage declined by more than 7 percent from 1976 to 2007.

A “banana” republic has 1% elites and 99% in near poverty conditions, like Honduras was.

ObamaCare health insurance exchange

First state to go live is Oregon. Looks like they are ready to cover uninsured. Many GOP states have said they won’t cover uninsured. Will everyone move to Oregon?

http://coveroregon.com/

SCAMS           “Deficits don’t matter” Republican godfather, Dick Cheney, 2002

Buckets of Money advisor has his buckets revoked

Ray Lucia, host of a nationally syndicated daily radio program and famed for his Buckets of Money investment strategy, was fined $50,000 and had his adviser registration revoked by an administrative-law judge yesterday. Mr. Lucia's firm was fined $250,000 and its registration was revoked, the Securities and Exchange Commission said.

AIG, GE, Prudential leveraging again a threat to us

U.S. regulators have labeled American International Group and General Electric's finance arm as potentialthreats to the financial system, designations that bring stricter government oversight.http://www.usatoday.com/

Regulators allow disaster to strike small investors

Hedge funds and other firms that seek private investments will be allowed to advertise publicly for the first time. SEC killed an 80-year old ban on advertising intended to safeguard small investors from taking on potentially dangerous risk. The “snake oil” salesmen are exempt from requirements to report public financial statements. Hedge fund owners, with bank loans, are exempt from paying income tax on their gains already. WOW! Wild Wild West again.

What is wrong with American military-industrial complex?

It was commissioned by the Army in February 2010 to be the Command and Control Facility for Regional Command Southwest during the surge. How could the U.S. military spend $34 million constructing a building in Afghanistan that has never been used - and may now be demolished? In May 2010, even before construction began, the Marine commander cancelled the project. Despite that request, the Air Force told British-based AMEC to construct the facility and, in November 2012, the U.S. government took over the facility. Afgans don’t want it. Private equity firms own British AMEC and got the $34 million. We got the bill.

Is anyone at the Pentagon in charge? Can the Taliban buy it? They are funded by donations from Britain and the Persian Gulf.

Farm bill pays corporations extra money for poor results but $0 for poor

Even conservatives voted against it since it was still "loaded down with market-distorting giveaways to special interests with no path established to remove the government's involvement in the agriculture industry." GOP cut all food stamps and nutrition for the poor: Let them starve, is the message.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

How is your pension doing?

How is your pension doing?

Corporate pensions continue to enlarge the deficit of $412 billion--$74 billion higher than it was when 2011 ended. Analysts say this is due to low interest rates even though a good portion of pension assets are in equities, which returned over 15% in 2012. Perhaps your employer is short changing your pension on purpose. 44 million workers’ pension have been reduced and closed. Some employers have stopped matching 401k contributions. 

You can earn 10-12% a year by funding your own pension in a tax-FREE account you can’t outlive: 

Your Pension in a Box

http://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157/

Our representatives want to cut our SS and Medicare because they don’t need them!

HALF of our congress people are millionaires. They don’t need Social Security or Medicare. 47% of Congress Members are Millionaires. We continue to pay their salaries of $174,000 even when they do nothing. And they receive a healthy pension and medical in retirement—don’t need SS or Medicare! A member of Congress would be eligible for a pension payment of $84,645 per year.

Did you receive your death benefit yet?

Florida is seeking the rightful owners of $25 million in unclaimed life insurance benefits obtained through a settlement with American International Group.  Search for unclaimed property at www.FLTreasureHunt.org --

Taxes don’t change for most wealthy in high-state-tax states

For example, if you are married with two children living in California with annual income of $475,000 from wages, $21,000 in capital gains, $11,000 in dividends and $60,000 in deductions, you would have owed about $123,000 in federal taxes if the tax cuts had expired. Now, your tax bill would be the same with the threshold set at $450,000 because of AMT liability. This is the shadow tax established to hit the wealthy that pay no income taxes. http://en.wikipedia.org/wiki/Alternative_Minimum_Tax

Will you have to wait to file your tax return?

The IRS anticipates that the vast majority of all taxpayers can file starting Jan. 30, regardless of whether they file electronically or on paper. The IRS will be able to accept tax returns affected by the late Alternative Minimum Tax (AMT) patch as well as the three major “extender” provisions for people claiming the state and local sales tax deduction, higher education tuition and fees deduction and educator expenses deduction.

Who Can’t File Until Later?

There are several forms affected by the late legislation that require more extensive programming and testing of IRS systems. The IRS hopes to begin accepting tax returns including these tax forms between late February and into March; a specific date will be announced in the near future.

The key forms that require more extensive programming changes include Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization) and Form 3800 (General Business Credit). A full listing of the forms that won’t be accepted until later is available on IRS.gov. Deduction amounts 2012http://www.irs.gov/uac/In-2012,-Many-Tax-Benefits-Increase-Due-to-Inflation-Adjustments

GE’s long-term care insurance business at risk?

Shares of Genworth Financial Inc. fell after a Credit Suisse analyst on Tuesday downgraded the stock, saying a recent rally ignores the risks that Genworth faces in its life insurance businesses, particularly in long-term care insurance. Consider the alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Are you still getting a government check?

The deadline is March 1 to switch to either direct deposit or the government's MasterCard debit card. The switch isn't optional. Since 2011, all new recipients have been required to get Social Security electronically. By March 1, remaining Social Security recipients must choose one of the two options.

If you are one of the 5 million holdouts, here's how to sign up:

• Go to the website GoDirect.org. (It's not a .gov site because it's owned jointly by the Treasury Department and the Federal Reserve.)
• Call toll-free: (800) 333-1795. To prove who you are, be prepared to tell the person answering the phone the check number of your latest check and its amount.

If you are choosing direct deposit, you'll need to know your bank's routing number and your account number. Generally, both are across the bottom of your checks with the routing number on the left and the check number on the right. Best bet:  Direct Express card if you don’t have a bank account.

Our Social Security and Medicare will be cut to prop up two whole countries

Why our deficit continues to grow--$200 BILLION in this year alone for ‘WAR’ against a dead guy
If the CRS and OMB figures for FY2001-FY2013 are totaled for all direct spending on the war, they reach $641.7 billion, of which $198.2 billion – or over 30% – will be spent in FY2012 and FY2013. This is anincredible amount of money to have spent with so few controls, so few plans, so little auditing, and almost no credible measures of effectiveness. We will end up paying $2.4 TRILLION through 2017 according to the CBO. CBO estimated that of the $2.4 trillion long-term price tag for the war, about $1.9 trillion of that would be spent on Iraq, or $6,300 per U.S. citizen. http://csis.org/publication/us-cost-afghan-war-fy2002-fy2013

Why not raise revenue by going after the BIG tax cheats?

A new Government Accountability Office analysis of the IRS' efforts to collect unpaid taxes from citizens and small businesses in 2007 and 2008 found that exams focused on those with an income of $200,000 or more produced “significantly more” direct revenue per dollar of exam cost. The government researchers concluded that by shifting about $124 million in enforcement resources away from lower-income returns to returns from individuals and small businesses showing income of $200,000 or more, the IRS could bring in about $1 billion more than the $5.5 billion it now collects with these resources.

The GAO analysis said exams of individual tax returns reporting income of between $200,000 and $1 milliongenerated $25.60 per dollar of cost and those reporting $1 million and more generated $47.20 per dollar of cost, the report said. Exams of tax returns for lower-income earners generated about $5.40 to $7.40 for every dollar spent. So going after the big money yields BIG money!  Duh.

Wall Street predicted the end of Europe in 2012

Many hedge funds and money managers predicted the drop of the Euro and European stocks for 2012. Instead, the markets made over 15% in the US and 20% in non-US markets. 

Members don’t trust Wall Street for unbiased advice: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

ObamaCare provisions you can already take advantage of:

1. Free preventative care for women
insurance plans are required to cover free annual physicals for women, HIV testing and counseling, HPV DNA testing, screenings for gestational diabetes, screening and counseling for domestic violence, breastfeeding medical support, counseling for sexually transmitted infections, and FDA-approved contraceptive products.

2. Insurance company rebates
insurance companies are required to spend at least 80 percent to 85 percent of their customer premiums on direct medical costs. If companies fail to do so, they must send the leftover cash back to customers in the form of a rebate. The average rebate across the nation is expected to be around $150.

3. Free mammograms and colonoscopies
Since September 2010, insurers have been barred from levying out-of-pocket costs on patients receiving mammograms and colonoscopies, two of the most widely used forms of preventative care. 

4. Staying on your parents' plan
Since September 2010, children have been allowed to stay on their parents' insurance plans until they turn 26.

5. Get insurance for kids with pre-existing conditions
Since September 2010, insurance companies have been banned from denying coverage to children with pre-existing conditions, which include heart disease, cancer, asthma, and high blood pressure. By 2014, the provision will extend to all Americans with pre-existing conditions. It is also illegal for insurance companies to terminate coverage for any other reason than customer fraud — and insurers are barred from capping the number of benefits a customer can receive in a lifetime.

You can find lower-cost policies at the exchanges later this year.

SCAMS           “Deficits don’t matter” GOP leader Dick Cheney

AIG’s former CEO Greenberg wants to sue those who bailed it out—what CHUTZPAH:

The ex-CEO said that the rescue cheated shareholders by diluting their stake in the company. The insurer needed help after it was unable to raise money in equity and bond markets to pay clients who had bought protection against losses on mortgage-related securities. He is biggest stockholder and was kicked out of AIG.

“The idea that AIG would have been better off by going bankrupt, for the shareholders is a very, very hard thing to sell, I think, to a judge,” Neil Barofsky, the former inspector general of the U.S. Troubled Asset Relief Program said Tuesday on Bloomberg.

Wealthy can still avoid taxes with planning

Congress made the estate tax at $5 million permanent. This means the 2% can continue to use the $5 million gift and generation-skipping transfer tax exemptions by making gifts into dynasty trusts. “All of our wealthy clients should continue to make these gifts,” one advisor said.

Also, Congress did not touch valuation discounts, grantor retained annuity trusts and other techniques. All of the tricks of avoiding tax are still intact so advisors will keep using them.

Romney will never have to pay tax on his $250 millions. We will have to make up the $100 million tax he avoids.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Gift of Lifetime for grandchild

A Gift of a Lifetime: Give your Grandchild a gift that provides tax-FREE income

Your grandchild could have a Wealth Reserve^TM  providing tax-FREE income. 
Your monthly gift could provide your grandchild with real "social security:" their own tax-FREE money. You take advantage of the miracle of compounding. Your gift of $100 a month for 10 years becomes a tax-FREE $1,000,000 Wealth Reserve^TM  over time. You could reduce your taxable estate for each grandchild too. 
Your grandchild will NEVER have to pay taxes on the money either. Social Security will exhaust its funds in about 2033, so start today with $100 a month.

http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105

Cuban revolution is over! Taxes begin 

Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1. The landmark regulations will change the relations of Cubans with their government and are a signal that market-oriented reforms, launched since President Raul Castro succeeded his brother, Fidel Castro, in 2008, are here to stay. The recently published code constitutes the first comprehensive taxation in Cuba since the 1959 revolution abolished just about all taxes. We have an alternative--create a retirement that is income tax-FREE: http://www.barnesandnoble.com/w/tax-free-retirement-law-steeple/1113460121

Study shows that financial analysts know less than you do about financial future

Value investor and author James Montier found that:

In the US, the average 24-month forecast error for individual stocks is 93%, and the average 12-month forecast error is 47% over the period 2001-2006. The data for Europe are no less disconcerting. The average 24-month forecast error is 95%, and the average 12-month forecast error is 43%. To put it mildly, analysts don’t have a clue about future earnings. You are better off using low-cost index funds than paying advisors that know less than you do about value—and you save 40% long term: http://www.amazon.com/Do-Yourself-Personal-Finance-commissions/dp/1480156493

Is it time to take charge of your future?

Your Retirement Mutual Funds: 10 mutual funds to make sure your retirement income last as long as you!

Your investment plan assures you of income AND growth.

Your spending plan assures you of income for life.

Your Wealth Reserve^TM  provides TAX-FREE income for life.

Your tax-advantaged mutual funds grow at 10-12% per year.

Start today! Every year you delay costs you $100,000 later

Ten diversified mutual funds assure us of retirement income AND inflation-busting growth we can't outlive.

http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Insurers caught overcharging … again!

Massachusetts motorcycle owners will receive more than $2.8 million in insurance refunds as a result of settlements with two insurance companies that allegedly overcharged thousands of policyholders. Shopping for new coverage is the only way to tell you are overcharged $400-$500:http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Are you liable if your holiday party guest has accident?

According to some experts, you could be sued for having alcohol at your holiday party. Even if it is not your alcohol that causes an accident, as host, you may be liable for making it available, offering it in your home anytime before the guests leave, or even when others bring it and consume it without your knowledge. Options: no alcohol, serving ends 1 hour before anyone leaves, arrange for alternative transport, move party to restaurant or someone else’s home. The same can be true of food poisoning. Consider lawsuit insurance: http://www.amazon.com/Lawsuit-Insurance-need-right-policy/dp/1480061123

NJ Christie vetoes health care exchanges

N.J. Gov. Christie Vetoes State-Run Health Exchange Bill. He blames Obama for not being more specific.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Our tax subsidy to college football?

College football programs require you to make a donation in order to buy some tickets. Then ticket purchasers can write off 80 percent of the value of the mandatory donations against their taxes, which costs the federal treasury $100 million a year. http://www.nonprofitquarterly.org/policysocial-context/21269-is-tax-incentive-for-college-football-season-ticket-holders-fair.html

Is this the Afgan freedom we are helping restore?

A 14-year-old Afghan girl was beheaded by two men, one of whom apparently asked her to marry him. She turned him down. 

How insurers rig the property claim process against you!
Read this report so you understand how insurance companies try to cheat you:http://www.consumerfed.org/pdfs/Studies.ComputerClaims06-04-12.pdf

Who owns your account now?

Zecco Securities to TradeKing

Woodbury Financial Services to American International Group

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

'Only the little people pay taxes': Create a Tax-FREE income river

'Only the little people pay taxes': Create a Tax-FREE income river

Protect all your investment earnings in a low-cost trust.

Turn your taxable pension or IRA into tax-FREE income.

Take $6,000 monthly FREE of income taxes.

Avoid tax on up to 85% of your Social Security benefits.

“Only the little people pay taxes.” Leona Helmsley said. Mitt Romney pays less than 15%. Warren Buffett pays only 17% total tax. 35,000 wealthy households paid $0 tax. 1,470 millionaires paid zero taxes in 2009. Are YOU paying too much? $12.95

http://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

Avoid future higher tax with Roth IRA tax-FREE trust

High-income earners cannot contribute to a Roth IRA to gain tax-FREE income. However, you can convert a traditional IRA to a Roth regardless of income level. You pay the tax on the converted amount now in return for ZERO tax on much larger amount in the future. EG: Couple contributes $10,000 a year for 10 years. Converts $182,000 to Roth IRAs in year 10, pays income tax on gains ($82,000) and lets them grow tax-FREE. By year 20 you have $500,000 free of income tax. http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Middleclass retirement without company pensions

According to a recent study by the Employee Benefits Research Institute, fully 44 percent of Baby Boomers and Gen-Xers lack the savings and pension coverage needed to meet basic retirement-age expenses, even assuming no future cuts in Social Security or Medicare, employer-provided benefits, or home prices. Most Americans approaching retirement age don’t have a 401(k) or other retirement account. Among the minority who do, the median balance in 2009 was just $69,127. https://ebriorg.wordpress.com/2012/05/

Members who started late still able to create a Tax-FREE Retirement: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

Are you paying too much for the same portfolio your advisor gives everyone?

Most money managers attract clients by word of mouth. That’s how Madoff did it. You trust your advisor because someone else trusted your advisor. You assume they did their homework so you didn’t have to do it. Well, you know how that story ends. Ask your advisor what they do for their 1.8% fee on assets. For the average investor, that could be $9,000. If they become popular seminar speakers, revenue can easily top $10 million. What do you get? One hour a year and boilerplate plans putting you in one of the seven core portfolios. Successful investors have their own plans and so stick with them:  http://www.amazon.com/REAL-999-Plan-Invest-Spend/dp/1469917580/

New 401k fee disclosure will shock you to move to lower fees or Roth 401k

By November, you should receive your new statement. Under Department of Labor regulations, employers have to provide fee information to the investors in the plans by Aug. 30. The disclosures will simply show what an employee could pay in fees on various investment options in their 401(k) plans. But the real "aha" moment for many plan participants is likely to occur sometime after Nov. 15 when they receive account statements detailing what they actually paid in fees the previous quarter - in dollars and cents. Recent research suggests that the existence of fees might alone be news to many employees. More than 70 percent of 401(k) plan participants did not know they paid any fees for investing in their plans, according to a recent AARP study.

Small plan participants pay THREE times what large plan members pay so if you are in a high cost plan, you can stop and use a low-cost Roth IRA. Over time, current fees can take 40% of your nest egg. Redirect your 401k money to a tax-FREE forever account: http://www.amazon.com/New-American-Retirement-System-Tax-FREE/dp/1461030072

State Farm says ex-Penn State football coach Jerry Sandusky’s homeowners' policy shouldn't have to cover civil suits stemming from his sex crimes, even if they were committed in his home.

Save on auto insurance by using your Wealth Reserve^TM to self-insure

Self-insure the small infrequent risks and invest HALF the premium you are now wasting on your car insurance policy. Plus, You don’t need medical coverage if you already have a comprehensive care policy. You will never receive a benefit from the medical part of your car policy—your health policy is primary. There are 21 other ways to save premium and build your own Reserves, not the insurers’: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

American General AIG leaves long-term care insurance

Last week Pru left the group market. GE Genworth and Transamerica (Ageon) will change pricing and commissions. Long-term care liability loss rates and claim severity are now at an eight-year high and could grow steadily into next year, according to an analysis by Aon Global Risk Consulting. There are alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Lies My Financial Advisors Told Me and low-cost alternatives I found

Did your advisor show you how to earn 10-12% return on your money without paying their fees every year?
Did your broker tell you that you can buy individual securities for $0 commissions now?
Did your agent call you about falling insurance premiums?
Did your banker explain your accounts will be ‘nickeled’ and ‘dimed’ to death?
Did your money manager explain that low costs are the best predictor of investment success?
Your financial “team” is robbing you of $3,000 every year.
“Professional money management is a gigantic rip-off.” Bill Gross, Bond Guru
Just published: https://www.createspace.com/3943417

SCAMS           “Only the little people pay taxes.” Leona Helmsley

It’s about time!

The Obama administration is launching an ambitious new drive against health care fraud by mining claims data from insurance companies and government programs in hopes of ferreting out bogus billing. Miami task force report: http://oig.hhs.gov/testimony/docs/2011/perez_testimony_03022011.pdf

Many banks trying to mislead on interest rate standard

A number of studies have shown that when it comes to lying about the key bank rate, Barclays was far from the worst offender. That title may belong to Citi.

In early 2010, two economics professors from UCLA and the University of Minnesota looked at Libor manipulation and found that, at least according to one measure, Citi had misstated its lending rate by more than any other large U.S. bank in the run up to the financial crisis. Worldwide, the bank that had the largest spread between what its Libor rate should have been and what was reported, according to the analysis, was the Royal Bank of Canada. By the WSJ's calculations, from January 23 to April 16 of 2008 Citi under-reported its borrowing rate by 0.87 percentage points, or nearly triple the 0.30 percentage point difference that the paper figured Barclays was fibbing by.

Pay for performance is the American standard

Why should we pay Congress people salary when we have no production?

Wealthy Congresspeople don’t want to show returns either—Mit keeps $ overseas

Most in Congress – Democrat and Republican alike – apparently are unwilling to make any of their returns public. Over the past three months McClatchy Newspapers asked all 535 members of Congress to publicly release their tax returns, but only 17 complied. An additional 19 refused and the rest failed to respond. Read McClatchy article.

Among those refusing to provide tax returns were Nancy Pelosi, the top Democrat in the House, and Harry Reid, the leading Democrat in the Senate. They each rejected repeated requests.

Insurers place their bets on GOP

Insurance industry political donations given to presumptive Republican presidential nominee Mitt Romney more than double those given to President Barack Obama this election cycle, according to a Best's News Service analysis.

Who owns your account now?

MetLife banking assets to GE

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com