Where is your serious money?

Where is your serious money?
There are 3 kinds of money. What you use to pay your bills is one. Another is the money you add to your 401k, 403b, pension, IRA, Roth IRA etc for future use. Finally, there is the money you can afford to lose—Fun Money—$50 on bets/lottery every month, $1000 on that “category killer” your broker/friend tips you to. There is a thrill to losing $1000 that you never tell your family about. Very few talk about the THRILL of having saved $1,000,000 in their retirement account. We are all afraid of the consequences of people making assumptions about us from knowing that about us. We could be targets of a scam like the lady who lost $300,000 to a fake romantic liaison. We could become the mark for every legit charity in the world. We could find we have all these relatives we never met. We could lose almost all of it to one of the most ‘respected’ money managers on Wall Street. Actually, financial fees can take 63% of your potential nest egg legally.

Don’t be gutted: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Why ‘snoring’ is the best way to create wealth?

Warren Buffett’s favorite statement is about his strategy to grow wealth. He was commenting on his style of investing in his annual report to the shareholders of Bershire Hathaway. He says active investors earn less than passive investors. The investor return tracking-firm DALBAR found active investors earn 3.79% vs 11% for those who just buy and hold. ‘Snoring’ through market gyrations is hard to do but Buffett proves patience pays. “Low-cost funds beat high-cost funds in every single time period and data point tested” says rating firm Morningstar. Warren Buffett, world's greatest investor, says, “Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees.... Paradoxically, when ‘dumb’ money acknowledges its limitations, it ceases to be dumb.” Fight your market anxiety and let your money ride as Buffett does.

‘Snore’ your way to wealth: https://www.amazon.com/Snoring-Best-Way-Create-Wealth/dp/1466408928

Which car insurer provides best crash claim settlement?

According to body shops that deal with insurers, Chubb and Erie Insurance both received A- marks. Insurers were ranked highest for getting the job done right and fast. Travelers, USAA Group, Nationwide and State Farm received C+grades. Farmers, Progressive Group, American Family, Geico, Liberty Mutual and Allstate received a C-.

On the bottom of the scale, Loya, The General and Direct General received D grades. No carriers got an F. Body shop owners gave higher marks to the insurer they had direct repair agreements with. Avoid vehicles with low crash safety ratings.

Shop for the best discounts too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Is HSA good substitute for stretch IRA estate plan?

Not quite. It is useful to pay for an heir’s MEDICAL expenses but cannot replace living expenses as the STRETCH did. Anyone can make contributions into an eligible account holder’s HSA on their behalf. The individual making the contribution doesn’t have to be HSA-eligible himself; all that matters is that the account holder is. That means a parent could fund their child’s HSA annually, giving the child a tax-free resource that could be used to pay for current medical expenses or invested for the future. And, the parent’s HSA contributions are tax-deductible for their child, even if they don’t itemize their deductions. By contributing to their child’s HSA over time and letting compound interest and investment returns do their work, parents can provide a safety net for their child against any unexpected medical expenses. And since HSAs don’t have required minimum distributions, those funds can keep growing until they’re needed.

Planning avoids taxes: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

File your taxes for free

TurboTax and other for-profit tax prep firms are due to raise prices soon. If you have your documents, use your favorite software now and pay your tax due on April 15. The payment, if any, can be in April; the filing should not. The federal and state can cost you nothing at https://apps.irs.gov/app/freeFile/. Another site has no cost or restrictions: https://www.creditkarma.com/tax. And remember you can always reduce income and thus tax by making a deductible contribution to your IRA.  

Save for a long life: https://www.amazon.com/Your-Plan-Live-Age-100/dp/1548180793

**********ACCOUNTABILITY**************

Like 1776, this period is a test of democracy—do we really want ‘low-IQ’ Mobster?

Putin helping Trump’s re-election NOT ‘socialist’ Bernie.

In his image: Mobster has replaced more judges than anyone in history

Mobster to free friends: “I can’t allow miscarriage of justice:” Flynn, Stone, Giuliani, etc

Mobster pardons another felon: “he has done so much in NFL football."

Another felon is released by our new ‘judge/jury’: “ridiculous sentence in my opinion”

More felons pardoned: lying and tax cheating OK now

White collar crime pays: Mob Boss empties ‘country club’ prisons

Trump uses pardon to protect Putin from charge election tampering

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Trump’s Gestapo chases immigrants inside sanctuary protection. National police roam.

Trump approves use of antipersonnel mines that 150 countries banned 30 years ago.

Trump makes immigrant asylum impossible: Guatemala becomes entry point.

America is under attack and Washington is still wasting money on past war strategies.

Trump to buy votes with PROMISE of 10% tax cut just before Nov election.

Trump ends building regs so he can misdirect Pentagon funds to The Wall quickly.

Trump to allow mercury poisoning: “not need to limit harmful pollutants” in air.

“I am chief law enforcement officer of the country.” Nothing can stop him now!

We don’t need judges/juries anymore: Mob Boss will decide for US

SCAMS/SPINS:

Recall 300,000 Mercedes-Benz cars because of fire hazards of E-Class and CLS diesels 

Recall 44,000 2019 2020 Toyota & Lexus cars and SUVs engine fire hazards

Only 6% of US provide most of tweet fire-storms: modern gossips have too much time on hands

BEWARE: “retrospective denial” insurers deny cover after pre-approve medical procedure: bankruptcy

Medical industry ripping US off and Congress enables them: medical lobby  dominates Washington.

Drugstore database selling our Medicare secrets to marketers who robocall seniors sell DNA, etc

Census by internet: Same firm the destroyed IA creds may need to redo census?

GOP McConnell got $50,000 from drug firms for blocking bill to lower prescription drug costs!

Mark Pyatt ND caught fraud promised futures contracts trading fake docs; bought RV, jewelry

EquiAlt, Davison, Rybicki FL stole $170 million promised real estate; bought luxury for self.

Richard Cody FL caught concealing client losses he caused; faked statements

Brian Cige NJ attorney lied about fees: promised no charge unless he wins; then $271,000 bill.

Kern-Fuller, Sutter Upstate Law caught enabling high-interest credit to disabled veterans: unfair.

BEWARE: “copay accumulator” policy which raises deductibles and out-of-pocket max.

Drug middlemen overcharged OH workmen’s comp 1.3 million scripts

Romance scams most devastating and US can do nothing:

Bishop McCarrick funded & ‘guided’ $1 million to sexual abuse group defying Vatican.

VA Senate supports sale of assault-style weapons and hi-cap mags: cause 4 Dems NRA cash.

Will you get to vote this year? GOP suppression hits a rut in FL

WOW: 50% of US report we have been targeted by money scams perpetuated by impostors

Ft Lauderdale closed for Spring Break: “You’re sh***ing me?” Even fish don’t go anymore.

Jobs

Trump raised $60 million as he was being impeached: any spin works for Trump

IRS may visit you at home for taxes if you are wealthy enough.

Trump wants to decide the Oscar winners from now on: doesn’t like what not understand.

Not Jobs but Tesler who made computers useable: Ctrl C, V, Z, F,

America split in half: Places with $2.5 million ‘starter’ homes heighten our inequality.

Who owns your account now?

Bloomberg winning FL Dems: even a sexist, who can beat Trump, leads pack

Legg Mason to Franklin Resources

E*Trade Financial to Morgan Stanley: Every investor is now private bank client—fees!

Farmers offers auto insurance online directly: farmersdirect.com

Miracle:

Trump makes deal with Taliban: Afghan troops may come home after 18 years!

Trump lands in Daytona in 2004 plane: Time traveler in chief or more lies.

Boy Scouts bankrupt from abusing thousands of children: so many let it happen.

Parents save child from CA mountain lion with fierce punch and shouts

Cabby Rajbir Singh saved elderly woman from IRS scam by taking the time to help.

Sure, play violin while we take out your brain tumor: great idea IF it works

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Are you being scammed?

Best evidence you are being scammed

A cold call, unsolicited letter or email! Think of it. You have been ‘chosen’ out of billions of people to receive an offer that sounds too good to be true. If the offer requires you to send money to get money or if it is heavily charged with emotion, you can’t possibly make a rational decision by yourself. You need help—any friend or advisor can help. The money strategy is complicated but scammer sounds like they know what they are talking about. Even Harvard endowment fund is fooled by bad direct investments. Scammer has your detailed personal info so they must be authentic agent of govt agency. You find a charge on your credit card you don’t recognize. Credit card charge is small $1 and you ignore it. Check out how much info you can find on yourself on the internet—just type your full name. You will be shocked to see a lot more than you want floating out there. Most of it can be used to rob you. You should go after every firm that offers to sell your data. It is said that scammers can buy your whole profile for less than $100.

Avoid money scams: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023

Will you have enough?

How do you know whether your investments will provide enough money for retirement? Your advisor may not be a financial planner or have access to the calculators that can make an estimate. You should do a little homework just to make sure you know how you are doing since your advisor is unlikely to be around in 25 years. Retirement calculators like Vanguard’s Retirement Income Calculator and Vanguard’s Nest Egg Calculator can give you a feel for your accumulation progress. The value of these kinds of calculators is that they include the Time Value of Money. For instance, if you are due to have a pension of $1,000 a month when you retire in 20 years, it is sobering to know that it will be worth about HALF or $500 a month in purchasing power. Inflation of 3% is assumed in Vanguard’s projections so you understand that if you use bonds or CDs paying 3% a year as your investments, you will have NO real gains in 20 years. Only stocks with 10-12% total return can overcome inflation. Compounding is the name of ‘money earning money on itself’ when invested in companies like those in a low-cost market index fund. Compounding is how you can reach a $1,000,000 nest egg by investing $250 a month for 35 years. It is TIME, not stock-picking that wins according to Warren Buffett. When you avoid high-cost advisors, you earn 11% not 3.79% the average for ‘managed’ money.

Educate yourself: https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook/dp/1088908500

What you own in your 401k stock fund

Many 401k participants make their contributions to low-cost stock index funds or Target-Date index funds. What do you really own? You own shares of a fund that owns stocks that make up the market. You own them through your share of parts of these firms:

1          Microsoft Corp.

2          Apple Inc.

3          Amazon.com Inc.

4          Alphabet Inc.

5          Facebook Inc.

6          Berkshire Hathaway Inc.

7          JPMorgan Chase & Co.

8          Johnson & Johnson

9          Exxon Mobil Corp.

10        Visa Inc.

Over time, you receive gains and dividends that provide a total return of 10-12%. In this manner, you can accumulate $1,000,000 with as little as $16,000. All it takes from you is patience. As Buffett proved in his win over 5 hedge funds, no person or computer can foretell the future. Buffett used John Bogle’s invention to win: “Don’t look for the needle in the haystack. Buy the whole haystack!” And the haystack gives you more!

Buy them all: https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409/

Are you willing to wait for your $1 million?

You can accumulate $1,000,000 with as little as $16,000. All it takes from you is patience. But most of us have no more patience. Three quarters of those surveyed said they believe the dominance of digital technology, such as smartphones and on-demand TVs, are to blame for this ever growing lack of patience. Respondents reported becoming frustrated after just 25 seconds of waiting for a traffic light to change. Life moves at such a fast pace, we just don’t believe that it is TIME, not stock-picking that beats expensive money managers. Very few of us believe that just by avoiding high fees and trading, you can earn 11% not 3.79%. The facts and actual results don’t make an impact on most investors. We don’t learn about compounding in school so we assume saving in a high-interest bank account is the only way to become rich. Actually, the rich keep 60% of their assets in stocks compared to only 18% for US. Fidelity studied their most successful investor accounts: Best were forgotten—never traded, hedged, rotated, or churned. If you were running a business, you would NOT sell (trade) it every 6 months or year. You would keep working it to be rewarded over time. Like Buffett, just buy and buy more: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268

Is a Health Savings Account right for you?

First, you must buy a high-deductible health care policy from your employer: Deductible must be over $1,350 for individuals and $2,700 for families. Second, you need to have the money to establish and maintain a special savings account for your medical expenses. It is tax-advantaged so to help you, you must have sufficient income to need a tax deduction. Your employer can make the contributions for you. While your 401(k) contributions are subject to Social Security and Medicare taxes, contributions to your HSA are not. If you have HAS money left over you can let it grow year after year. After age 65 there is no penalty on non-medical withdrawals. Third, your HSA institution may charge fees. Fourth, depending on your medical expenses, you may pay more for health care coverage than using a traditional plan.

Compare your total plan expenses: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Converting IRA to tax-free Roth IRA?

You can amass a sizable tax-free income later in retirement by paying the tax due on your IRA, moving the money to a Roth IRA so that future earnings are tax FREE. There is no withdrawal penalty if you begin after age 59.5. However, after age 70.5 you must take certain annual amounts from your IRA so Uncle Sam gets the income tax you didn’t pay during all those accumulation years. It is called your RMD and it amounts to 3-4% of your overall IRA total. If you take it as monthly income, according to the IRS formula, be aware that the RMD must be recognized BEFORE the IRA conversion can take place. The RMD amount is first out in any given year. So if you take $2,000 a month as your $24,000 RMD, you can’t take $10,000 to convert to a Roth in the middle of the year.

Make a careful plan: https://www.amazon.com/What-your-RMD-does-how-much-spend/dp/1718946716

Can you really save with ‘behavior’ car insurance?

Since everyone is different, we can’t tell without trying it. The app down-loaded to your phone records HOW you drive for 2-3 weeks. Hard turns and quick stop and go driving will dissuade from the low-cost rates. A quiz sets up the coverage you want. You get a quote: usually if you are an infrequent careful driver, you win. You must live in a state where it is available. Most large insurers offer some form of behavior-driven coverage. Savings depend on a host of other policy options.

Ask for all discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

**********

This period is a test of democracy—do we really want it or not?

"Never in my life did I think I would like to see a dictator but if there's going to be one I want it to be Trump."

Queen and PM unlawfully shut Parliament on crucial issue: Democracy challenged in UK too.

How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Congress fails to stop guns and drugs from killing us: What do they do all day? Dial for $

The longer Congress waits to fix the warming the more taxes it will cost to fix.

Trump gives Saudis our forces: we already gave them planes and missiles—let them fight

American’s income is growing farther apart: Average worker’s income has not grown!

More welfare to Trump’s people: $28 Billion plus wasted in global competitive market!

Each state wastes $ millions: claims it ‘created’ jobs: NJ shows how Christie did it.

Defense contractor ‘mistake’ will cost US $1 billion to fix: contractor takes profits?

What happened to Trump’s Taliban ‘deal’: $2 TRILLION wasted so far

Trump's wall is 'totally absurd': Congressman climbs over to show how easy to scale.

Trump’s airport guards hold NJ mayor & family for 3 hours: his phone for 2 weeks

Obama’s HHS gave $227 million to states that lied about child needs: AL $95 mil LA $7

SCAMS/SPINS:

We can’t avoid tax on retirement funds just by not cashing check: ‘Dog ate it’ not excuse

Moscow Mitch plays both sides: give states money to ‘fix’ election machines for USSR.

Trump rolled back legal clock to the 1860s: Destroy 13^th, 14^th, 15^th, Roe, Voting Rights

“I think I’m gonna get a Nobel Prize for a lot of things …”

Is this a mob boss’s deal?: “do us a favor” “Attorney General will call” “about Biden’s son”

Scammer uses Facepage pic to trick us about govt grant and giving them money.

Scam: Tariffs are paid by China: Actual price hikes we pay since last year

Unlicensed advisor Marcos Tamayo cost only $300 a year: doing right by his clients?

Six annuity sellers caught replacing deferred annuity with immediate: cost $1.8 million

BEWARE: Brokers pushing ‘calendar risk reversal’ options—bet only what you can lose

Hidden costs of ETFs: these index funds are not always cheaper than the traditional.

Chris Kubiak caught stealing from elderly clients in Ponzi-type scheme: 2 yrs jail time.

Christopher Fulco caught stealing $1.6 mil fake statements/firms to elderly: no jail

Sprint caught taking subsidies for low-income Lifeline service not being used

Chrysler Fiat caught lying about emissions AFTER gov indicted VW

Fair Collections & Outsourcing caught false loan collection practices & statements

Match, Tinder, Cupid caught using fake ads to trick us into subscriptions

David Rourke Jarrod Sherman caught selling stock in firm they had financial interest

Andrei Tyurin caught hacking our JP Morgan Chase data for personal gain

Boeing 737 inspectors were NOT really qualified to test pilots: led to 346 deaths

BEWARE: your ETF could disappear: 25% have folded; 7% lost big; fees hurt

Joseph Pratt caught insider trading on clinical trial info w/o notice to Wells

Trump to cancel $235,000 Duke grant: not enough emphasis on his fav religions!

Jobs

Community College for the 1^st year to get used to the routine of costs, class, study, work.

Trump is busy running US … House-building in Scotland: WALL money?

Who owns your account now?

ME to let customers decide which cable channels to buy: industry horrified by choice

Trump to end CA IRA: employers want to help workers save but broker fees left out.

Review: Vanguard new robo investing service is low-cost automatic investing

IRS is looking for your amended tax return: virtual currency needs new reporting.

Trump: broker/advisors beat you in any dispute: you can’t sue if you are mistreated

But Trump sues NYState—no mandatory arbitration for him! No rights for us!

Supremes define where to set up your trust account so income is not taxed

Miracle:

Will the Pope protect believers or the Papal fund raisers?

One 16 year old is the face of global warming crisis: “biggest crisis humanity has ever faced”

Another 16 year old picks up VW for life: "I just thank God for putting me in the position and giving me the strength to do that."

Rapid DNA 2 hour test may become ultimate crime stopper

Teach kindness: mindfulness and kindness actually alter the behavior of genes: mind therapy?

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Will you inherit $11 million Tax-FREE?

Will you inherit over an $11 million estate Tax-FREE?

Are you one of the lucky families that will inherit over $11 million estate tax-FREE?

Our Congress just voted to give a BIG tax break to the 5,000 wealthiest families. Repeal of the estate tax would mean that the wealthy with over $11 million can create a family dynasty. None of these wealthy people works on a farm or would lose their farm if Obama vetoes the bill. We would lose $300 Billion in taxes and we must make up. The 5,000 would still have $ millions after state inheritance tax in some states.

If you don’t have over $11 million, use your IRS-approved Tax-FREE account: http://www.amazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/dp/1460945484

You can create a legacy for your family that is NEVER taxed

Your heirs have the option to keep building your legacy for another generation. They can either roll your Roth IRA into their own Roth IRA or cash out the account without penalty regardless of their age. Your beneficiary can transfer your non-taxable Roth IRA into their own account, if they do not need the money for retirement. They can then designate the account for their beneficiary. This can be repeated for each generation. If any heir doesn’t do the transfer, your account needs to be distributed within five years of the death or paid out in equal amounts over their lifetime. 

http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522

Wealthy avoid taxes by NOT working

If you work, you pay taxes before you can buy food, housing or anything else. Not so with the wealthy. Look back to the 2011 Romney tax return shared by the candidate. Romney reported NO earned income. He actually paid more tax than required so that he could claim he was not one of the “47% of Americans who pay no income taxes. He called us “victims” who feel entitled to government handouts.” But we pay 33% on average—more than double his 14% rate.

Congress has reversed the American progressive tax system. The wealthy pay a smaller percentage of their income than we do—14% vs 32%.

Pay your fair share: http://www.amazon.com/Tax-Shelter-Americans/dp/1500426520

Americans   

Is an HSA right for you?

A Health Savings Account is tax-FREE money when it is combined with a high-deductible health plan. The IRS defines HDHP as an annual deductible of at least $1,250 per person or $2,500 family. Your HSA is deductible even if you don't itemize deductions. The HSA is great if you don’t have high health costs but a large deductible can prevent you from getting the care you need. You can write off $3,350 ($6,650 family) in HSA contributions on your federal income tax for 2015, plus a $1,000 catch-up if you're 55 or over. HSA balances roll over year to year so you could earn interest. Unlike an HSA, you must use an FSA by yearend or lose it.

Is Free File tax prep right for you?

The number of taxpayers filing self-prepared returns increased nearly 6 percent by the end of February according to the IRS. It has authorized a number of online software firms to provide FREE tax prep help at http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free. The cost of commercial tax prep has increased with new ACA forms added this year so you can save up to $500. And there are still organizations that can help seniors and non-computer users. AARP offers in-person FREE file: http://www.aarp.org/applications/VMISLocator/taxAideLocations.action

Will the IRS keep your refund?

You may find a hole in your bank account if you were spending your tax refund before it came. The IRS can take it for several “worthy” causes: Delinquent student loans, ObamaCare penalty and/or subsidy, past-due state income tax, past-due child support, etc. The Treasury's Bureau of Fiscal Service, which actually issues refund checks, will inform you by letter of the dirty details. If they made a mistake, dispute it. Hey, you never know.

You can turn your IRA required distribution into TAX-FREE money

Many people work after age 67—the SS retirement age—and by age 71 are receiving mandatory distributions from their IRAs, 401k, 403b rollovers, and other pensions. These retirement funds were never taxed so Uncle Sam wants to be paid. You can pay it and then never pay tax on the earnings again. If you don’t need the money right now. You can send your RMD, as it is called, to your low-cost mutual fund inside a Roth IRA. When you need the money later, it and its earnings will be TAX-FREE. This will lower the income taxes on your other taxable accounts and Social Security benefits. You pay less tax overall with Tax-FREE income.

http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951

GOP crazies

America’s future looks grim using the just-passed GOP budget blueprint:

Military spending increase to $612 billion so we can prop up 3 Middle East countries; and Japan, Germany and S. Korea don’t have to pay for their own defense departments.

CUT $431 billion from Medicare. Convert seniors to voucher-like program.

CUT $236 billion from the budgets of non-defense agencies—fewer people services.

CUT $1 trillion from food stamps and welfare and repeal of the Affordable Care Act.

CUT Medicaid $913 billion. Convert to state block grants to shift cost to states.

37 million people would lose health insurance, doubling the ranks of the uninsured.

Obama says “failure to invest in education, infrastructure, research and national defense.”

McCain says “not legitimate budgeting.”

Ken Buck, (R) CO says “It’s all hooey.”

 “I don’t know anyone who believes we’re going to balance the budget in 10 years.”

GOP President-to-be claims he is Hispanic to gain votes or impress Miamians?

Jeb Bush admitted Monday that he made a “mistake” in 2009 when he listed his ethnicity in a Miami-Dade County voter-registration form as “Hispanic.” The likely 2016 Republican presidential contender is, obviously, not Hispanic. How can you make a “mistake” since we answer “race/ethnicity” all the time? He did on March 6, 2009. Does Bush senior know Mrs Bush had a Hispanic son?

Can we see Jeb’s birth certificate? Is this another “oops, I forgot” GOP moment? Did he serve in the “National Guard” like W claims?

NJ Gov gives Exxon a break

Master ‘negotiator’ Chris Christie accepts only $225 M instead of $9 Billion and then uses the money to fill his budget gap and still can’t pay promised pension bill. Is this how the GOP will run the government? He is losing his shouting match in the polls.

74% of us have never calculated our monthly retirement needs

Also, 51 percent of retirees have never tried to determine if their current savings will be enough to last through retirement – though 39 percent assume what they have will not last 20 years – grim statistics indeed.

You can have more income than you think: http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522

Do you know what you pay your broker/advisor?

A significant number of investors are in the dark about the fees they pay brokers, according to a new survey by a state regulator association. While most brokers/advisors charge annual fees to manage accounts, one-third of customers aren’t aware of the expenses, according to the survey by NASAA. The industry makes it hard to find the costs because they take as much as 63% of our retirement money in fees.

Wealth Without Wall Street: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Long-term care insurance at risk

Genworth is weighing a breakup after steep losses on policies covering long- term medical care. GE is dumping its financial units so policy owners must contend with rising premiums and underwriting standards. Current owners may have some protection from state insurance funds. Future owners may be better off using alternatives.

Consider the alternatives: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

Students lose coverage while in school

Some universities that provide health insurance to their students are stopping the practice, as they say the Affordable Care Act’s minimal essential health benefits requirements have led to unsustainable cost increases. Those that remain are turning to their brokers to determine the best way to continue offering coverage to their students.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges!

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 to defend themselves.

The War on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq proved converting a nation to Western-style republic doesn’t work. The troops we trained ran away. We are wasting $4 billion a year on Afgan tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our money.

LPL Accused Of Improper REIT Sales By NH Regulators

LPL settled a similar case with the FIRA paying $950,000 for supervisory lapses in the sale of direct investments. In December 2012, LPL paid $2.6 million to settle a Massachusetts case involving improper sale of nontraded REITs. Last year, LPL’s top executives saw their bonuses drop, due in part to the adverse impact of regulatory charges. No one was fired or jailed. Will they do it again?

Wall St Banks need bailout by US for bets on oil prices

The same ‘players’ insured the oil drillers that prices would not fall. Now they must pay $26 billion. When they claim they nave no money, we will pay because Congress lets banks gamble with our money.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

35,000 wealthy households paid $0 tax

Rule for brokers to “do the right thing for the customer” put on hold …again

DOL and SEC likely will delay any moves until after Nov. vote. Lobbyists have been working on the delay for two years. Obama won’t push the “fiduciary” rules until after the election. We will have to wait to obtain this protection against the industry taking advantage of us—pushing bad and expensive products—with no full disclosure. Members assume there is no unbiased advice and buy direct for less:  http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Three investors beat up their advisor for losing $3.6 billion—investors, not advisor, sent to jail

Three German senior citizens were convicted last week of kidnapping and brutally beating their financial adviser. The unhappy trio, who range in age from 61 to 80, bound and gagged the adviser, James Amburn, broke two of his ribs, then tossed him in the trunk of a car for a 300-mile drive to a lakeside house. There, he was imprisoned in the basement. The three abductors were upset because the adviser lost $3.6 billion of their money on investments in Kuwait and Florida real estate. The trio forced Mr. Amburn, 58, to sign papers stating he would get them their money back. He faxed a note to SWAT who freed him. The investors, not the advisor, got 15 years.

Housing has become the new Gold

House hunters are flocking to foreclosures. Low mortgage and low price can’t be beat!

http://www.usnews.com/news/blogs/home-front/2012/05/30/house-hunters-flocking-to-foreclosures-for-value

Gold value dropping like lead during Ero crisis

It fell 6% in May alone. For many investors, this commodity was the refuge they dreamed about. It was considered the “safe” investment. It was nirvanna for GOP conservative Ron Paul. However, commodities do not hold their value over time. Like real estate, they go through bubble phases. How can you invest for the future in an unsettled world? Hang on! Money is pouring into index funds. There is the No Sweat Way: http://www.amazon.com/No-Sweat-Investing-your-money/dp/1469961687/ by Insider, Law Steeple.

401(k) fees could reduce the average nest egg by 30%, study says

The average U.S. couple could pay nearly $155,000 in fees for their 401(k) plans over their careers, according to a recent study. Compare how much you are paying at http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/. If you earn 5% but pay 1.5%, and lose 2-3% to inflation, net 1%. 

http://www.latimes.com/business/la-fi-401k-fees-20120530,0,6918904.story

You can do something about it now before you lose $155,000. Lower fee plans are available. Use our http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Boomers leaving money to charity not the kids

Leaving a legacy in a bequest was up nearly 19 percent in a year to almost $23 billion in 2010, according to the nonprofit Charity Navigator. Baby boomers have especially been interested in establishing a legacy. Three-fourths recently told pollsters that passing down family values and life lessons was more important than the monetary amount they're leaving in an inheritance, according to a recent survey by Allianz Insurance.

"We grew up in a do-good generation -- we were going to change the world," said Christine "Christy" Lambertus, a Fort Lauderdale board-certified, estate-planning attorney who is planning to leave a legacy. Members plan their wealth transfer wisely: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Is high-deductible health insurance right for you?

More than 13.5 million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, a more than 18 percent increase since last year, according to a new census. If you have few health needs, this may the right plan for you. You buy a comprehensive policy that covers all major medical needs with a high deductible. This makes the cost reasonable. If you have surgery, all is covered after the first $3,000 for instance. If you have to buy insurance, the premium is cheaper than a HMO or PPO. The HSA is an account that lets you pay for your deductible and small out-of-pocket expenses with pre-tax income. This means that many self-employed people are going to pick this option in order to control their health and tax bills better. If you are offered this plan at work, take the expenses you had last year and compare to HMO costs. Make sure you can see specialists, your own doctor and hospital. Use our Guide to help you compare:

http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

ObamaCare benefits cited by Washington State officials

Reform would extend Medicaid coverage to 328,000 of the state's uninsured and give premium subsidies to another 477,400. Those who don’t have care would be able to use the state’s exchange to buy it. The Plan is not perfect but is better than the current lack of insurance for 74% of state’s uninsured residents. Three old white guys will decide to reverse the law of the land this month. Many pray.

http://insurancenewsnet.com/article.aspx?id=344296&type=lifehealth&inl=1

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

35,000 wealthy households paid NO taxes in 2009, says IRS this week

"Under Obama's plan, these people would almost certainly pay more. Under Romney's, they will almost certainly pay less." Percentage of high earners avoiding taxation on the rise; tax-exempt interest from muni bonds and charity are the main drivers. http://www.irs.gov/newsroom/article/0,,id=257605,00.html

Welfare for Rich: Farm bill gives payments to corp as soon as they claim revenue down

Agribusiness can start collecting as soon as their accountants can show a revenue drop. Corp will no longer have any risk of too much crop that lowers prices. The supply-demand market will not work. Prices will be supported. We will pay them more in subsidies as prices of bread etc fall. Deficits will rise. Senate takes up bill.

http://www.aei.org/article/economics/fiscal-policy/field-of-schemes-the-taxpayer-and-economic-welfare-costs-of-shallow-loss-farming-programs

US Corp CEOs hit jackpot—a $10 million average paycheck: Workers lose 7% and falling

The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press. That was up more than 6 percent from the previous year, and is the second year in a row of increases. The figure is also the highest since the AP began tracking executive compensation in 2006. Companies trimmed cash bonuses but handed out more in stock awards. For shareholder activists who have long decried CEO pay as exorbitant, that was a victory of sorts? http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1

IAN

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