Use your IRS tax-FREE account NOT foreign banks

Use your IRS tax-FREE account NOT foreign banks

60 Minutes says bank employees implement strategies to help Americans avoid taxes. An HSBC banker promised “the undeclared account would allow [his] assets to grow tax-free, and bank secrecy laws in Switzerland would allow [client] Sethi to conceal the existence of the account”. No bankers went to jail. Fines are just “the cost of business.”  Data shows details and the leaker is now the criminal. [BIG] Crime does pay.  

Use your IRS tax-FREE account: http://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Do you have deductions worth more than the standard deduction of $12,400?

Your preparer may not ask you these questions because most easy tax forms don’t let you take the uncommon deductions. The most rewarding deductions are for a small business. However, you may deduct many things: taxes, mortgage interest, gifts, big losses, work expenses, etc. Take your share!

If you have kids you can receive up to $6,143 for three or more children plus $2,000 CTCredit. There are credits which reduce your taxes including $2,000 for retirement savings. Uncle Sam can help you reduce your taxes now and later: http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702

Get your refund (average $3,539) FAST—Create $ million account

E-file, when combined with direct deposit, is the fastest way to get a refund. It costs nothing for those who choose Free File. State fees are $12.95 +.

Some states allow FREE state filings for simple returns.

Your refunds can make you a millionaire: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

Warren Buffett’s investment strategy beat hedge funds 63% to 20%

In the 2008 financial crisis, a US hedge fund manager bet $1 million that his complex, high-cost strategies could beat the plodding approach of investment guru Warren Buffett. The result so far: Buffett’s Vanguard shares are up 63.5 percent since 2008; while the hedge fees cut returns to just 19.6%.

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

The car was FREE but the insurance was $15,000/year --Wow

James Robertson was forced to walk 20 miles to work to earn $10.55 /hour. He has perfect attendance but he can’t afford to fix his old car. The Detroit bus service is lousy. He starts his commute at 8 a.m. for his 2-10 p.m. shift, and does not get home until 4 a.m. Good Samaritans raised money for a car and a local dealer gave him one—But insurance costs $15,000. Insurers don’t believe in integrity—only your FICO score.

Buy only what you need and save: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Romney needs to meet the 47% who walk 20 miles a day to work. We are not just victims, “takers” as GOP thinks. We try to make a decent living in America on $10.55 an hour while CEOs take their wages/bonus/raises/options to offshore hideouts.

Wall Street analyst warns that if corp profits are not shared with society, we all lose

Arnott Sees ‘Peasants With Pitchforks’ If Profits Get Any Fatter. We ‘peasants’ will buy more stuff if we have more wages. Gas cannot go down much more. Last month, the unemployment rate of workers who hold a bachelor's degree or higher sank to 2.8 percent, its lowest level since September 2008. We need good machinists/welders but the jobs went overseas with the millionaires like Romney.

GOP crazies

Rand Paul, a doctor, should know that without public health vaccinations Americans would die. Measles vaccine has prevented an estimated 15.6 million deaths from 2000-2013.

Christie gov of NJ, where vaccines are mandatory for that reason, says vaccines should be a “lifestyle choice.” Would he say that if his kids got sick?

Rep. Scott Perry (PA): “he (Obama) actually might use it (war authorization) to further their (ISIS) cause and what seems to be his cause and just drag you as a complicitor [sic] in it.” Is GOP afraid war on ISIS might get blamed on them?

Yet many GOP want Obama to have more war powers—another Iraq?

Yet some GOP call Obama a dictator with too much power. Almost-VP-Palin and Rudy Giuliani want him to be like Putin.

Maybe they will become Communists?

Supremes (5 guys with health coverage) will decide if we get to keep our insurance or die early

The Supreme Court briefs are in, and we can now say that big business backs the Affordable Care Act. The justices will hear oral arguments on March 4 in the latest case challenging the ACA. The plaintiffs are backed by a range of conservative and libertarian interest groups whose real goal is to cripple, if not kill, the ACA. These groups have insurance already so they are not interested in helping others. As GOP candidate Ron Paul implied in 2011, “let them die if they can’t pay.”  

Your Fidelity account FEES earned Ms Johnson $ billions—she thanks you

FIDO increased its earnings by 29% last year, to a record $3.4 billion, despite surging investor redemptions of its mutual funds. Your fees helped Ms Johnson become the 6^th wealthiest woman at $14 Billions. She shares ownership with her dad and granddad.

See how Cost determines returns: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082

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 for their own defenses.

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. Our trained troops ran away.

Why working Americans can’t afford to live in New York

Our daughter works but can’t live in NY because she can’t compete with corporations and wealthy out-of-towners for apartments. Behind the dark glass towers of many buildings, a majority of owners have taken steps to keep their identities hidden, registering condos in trusts, limited liability companies or other entities that shield their names. By piercing the secrecy of more than 200 shell companies, The New York Times documented a decade of ownership for global money transforming the city’s real estate market.

Your Mercedes-Benz C-Class really has cheap plastic seats--Sorry

The bleeding seat issue appears to affect US-built C-Class models with the MB Tex vinyl and possibly other interiors. The bleeding often occurs when a car has been sitting in the cold and then heats up quickly. The number of cars affected is unclear, though the C-Class owners have been vocal in the MBWorld.org forum.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Health Insurance Save 25%

Health Insurance

Buy ONLY what you need

Find a comprehensive plan that your doctors accept.
You may be paying for benefits you will never use.
Your premium may be based on old information.
Save 25% with the right policy.

By Dan Keppel, MBA, $19.95. Just published: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

MO returns $133 million in unclaimed funds to owners—where are yours?

Since January 2009, MO Treasurer Zweifel has returned $133 million to more than 418,000 account owners. There are thousands of bank box contents too.  "Every day my Unclaimed Property staff talks to owners of Unclaimed Property in an effort to return accounts large and small," Treasurer Zweifel said. "There are 58 accounts with $100,000 or more in them waiting to be returned.” To find out if you have Unclaimed Property in any state, you can visit http://www.unclaimed.org/.

Is the Wal-Mart life insurance right for you?

Issued by MetLife, the insurance firm is offering Wal-Mart shoppers a pre-paid, one-year $10,000 to $25,000 life insurance policy that costs, on average, about $100 or so. For Wal-Mart shoppers aged 18-44, a $10,000 policy costs $69. But for consumers aged 60-65, the policy can cost up to $429. This policy is expensive when compared to $100,000 benefit for $7 a month from insurers with the same rating as MetLife. MetLife is taking advantage of impulse buying and high lapse rates that assure a high profit business. If you need real coverage, use our Guide: http://www.amazon.com/Life-Insurance-Need-right-ebook/dp/B009MA9K78/ 

Are your retirement investments better off with Obama?

Chart says not since FDR’s 238% gain has your portfolio done so well as during Obama’s first term. Will Americans vote their pocket book or the promises of the “king of off-shoring jobs”? Your Choice: GOP rulers tend to end up in disasters and wars.
http://www.nytimes.com/2012/10/21/your-money/wall-st-may-not-cheer-but-obamas-been-good-for-stocks.html

Can you read your 401k retirement plan statement?

New rules require plan admin. to say clearly how much it costs you and what you are paying for. However, your plan disclosure may have failed to disclose certain types of compensation because the service provider didn't think it counted under the rule. They also need to state their fiduciary (acting in your best interests) status. You need to understand the total amount that the servicer is taking from your account. If you earn 8% and they keep 3% total of all charges, fees, commissions, etc, you are only adding 5% to your account. If your mutual fund loses 8%, you must pay their 3% from your funds. You can then decide if you need to switch investment options to lower the fees or start your own retirement fund. If so, we can help you decide: http://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938/

David Lerner fined for ripping customers off

The Financial Industry Regulatory Authority said it ordered the firm to pay $12 million in restitution to clients who bought shares of a nontraded real estate investment trust known as Apple REIT 10. FINRA also fined David Lerner Associates more than $2.3 million for charging unfair prices on municipal bonds and collateralized mortgage obligations. You don’t have to pay unfair prices.

Save $3,000 on fees, commissions and charges every year: Do It Yourself Personal Finance by Dan Keppel.  Your financial team--agent, banker, broker, advisor and money manager--have been taking at least $3,000 every year from you. They only make finance seem difficult so you keep paying.

http://www.amazon.com/Do-Yourself-Personal-Finance-commissions/dp/1480156493 

Study says we kill our own investment gains

Two professors examined 40 studies of how we invest. Read the report on the missteps of individual investors. They detailed how individual investors make every mistake in the book and wind up either losing money or badly trailing no-brainer index funds.

Among the various sins that investors commit — and which cost them dearly — are:

•Trading too much, incurring big fees that more than wipe out their gains

•Selling winners while clinging to losers

•Focusing too much on individual stocks and not diversifying their portfolios enough

•Falling for stocks that get extensive media coverage or are trading near their highs

•Engaging in thrill-seeking behavior that confuses investing with speculation or gambling

•Trading or investing in financial instruments they don’t understand

•And, finally, despite all of the above, believing in their own superior investing ability

Only 1% of traders do well the study says. We try to mimic the Wall Street myth of the active trader—the Gordon Gekko character—with our own money. Wall Street actually only trades with OPM—other people’s money. Obviously the way to succeed is to do the opposite: Buy and hold a diversified group of stocks for longer periods. The easiest way to do that is with a low-cost index fund. Some of our members average over 10% a year by doing just that. http://www.amazon.com/What-Really-About-Building-Wealth/dp/146790287X/

Are you taking your RMDs on time?

If you own an IRA or retirement plan of any kind, the IRS wants its taxes. You have to take money out even if you don’t need it. The rule is here:  http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions:

“Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 70 ½ years of age or, if later, the year in which he or she retires. However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs must begin once the account holder is age 70 ½, regardless of whether he or she is retired.”

How much is your RMD? IRS table uses your life expectancy. Ask your trustee or use forms:http://www.irs.gov/pub/irs-pdf/p590.pdf#page=110. If you don’t need $ now, create an emergency fund or legacy for your grandkids: http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105/

Romney tax plan eliminates 3 of our tax deductions to pay for $5 trillion gift to rich

The latest component of Romney's plan for individual income taxes would create a ceiling on deductions as part of a three- part set of limits on tax deductions, according to a campaign aide who spoke on condition of anonymity on Oct. 3 to provide details on the options. The aide said there would be a $17,000 cap on deductions and credits, while Romney suggested a ceiling of $25,000 during the Oct. 16 debate.

A second ceiling would apply to personal exemptions (now $3,800 per person) and a third cap would apply to the tax break for employer-provided health insurance.  If you have health care from your employer, you would need to pay tax on it.

Obama claims these changes raise taxes on the middle class and do not cover the $5 T loss in revenue. Romney claims the balance comes from economic growth. However, Bush tax cuts did not produce economic growth. They actually reduced our growth. http://www.businessweek.com/news/2012-10-24/deduction-cap-means-romney-s-math-adds-up-tax-group-says

Finding the right doctor/hospital is difficult and we are not comfortable with the one we have

Only half of Americans have felt that they have made the right choice when selecting a doctor or hospital, according to a new study by http://www.healthgrades.com/. Taking the time to carefully review a hospital's performance can directly influence outcome of care – and statistics show that, in some cases, can mean the difference between life and death. Our Guide helps you find the best for your needs: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

US corporate heads ask Congress to due its duty—cut spending AND raise taxes!

CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. The CEOs said the solution requires a combination of higher taxes and reduced government spending including on entitlement programs such as Medicare and Medicaid. They also seek federal investment in infrastructure and math and science education. "What it really comes down to is if we still have the political will to be a great country," Dave Cote, chairman and CEO of Honeywell International Inc., said in a statement.

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

We taxpayers are still backstopping the big banks reckless trading.

"The managers feel we are the suckers in their poker games of high stakes." There still is no firewall to prevent another financial bailout. “Very large institutions do have advantages in the marketplace when they are not allowed to fail,” Mr. Stern said. “This perception leads to excessive risk-taking, not because management says ‘let’s take more risk,’ but the way things are priced in the marketplace encourages more risk-taking.” Gary H. Stern, former president of the Federal Reserve Bank of Minneapolis and co-author, with Ron J. Feldman, of the prescient 2003 book “Too Big to Fail: The Hazards of Bank Bailouts.”

http://www.nytimes.com/2012/10/21/business/citigroups-torch-has-passed-now-find-a-knife.html?_r=0

Who owns your account now? 

Verizon is transferring some of its pension obligations to Pru. Verizon is using the agreement to lower risks related to pensions while improving its financial profile. It follows General Motors in payingPrudential to assume the risk that market returns are inadequate or that beneficiaries live longer than expected. Transferring obligations can reduce swings in earnings tied to securities and relieve companies of the need to manage large pools of money. “What Verizon is doing is what a lot of companies are considering,” John Butler, a senior analyst at Bloomberg Industries, said in an interview. “They are offloading the risk to Prudential.” 

Amerigroup merged with WellPoint. Amerigroup will head the combined company's Medicaid managed care business.

Northwestern Mutual changes back into an insurer from a thrift to avoid Fed oversight. Many insurers became Savings and Loan Holding Companies during the financial meltdown in order to have available extra cash at 0%. Now they have to put more capital. 

Sun Life Financial, a Canada insurer, is seeking a buyer for a U.S. annuities business.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Life Insurance: Save $17,970 if you need it now

Life Insurance: Do You Need It? Save $17,970 with the right one! 

By Dan Keppel, MBA

Why do you need life insurance now?

Are you protecting your family and assets well?

Are you paying more than you need to pay?

In the 21^st century, you can purchase all your financial needs at a substantial discount, some to 300%. I will show you how to buy value—quality at the right price. Avoid commissions and fees. Build your own wealth not that of your insurer.

You may be paying more premium than you need to—prices vary by over 300%. You may be paying for things in your policy you don't even want. You are probably using companies that are in business to serve their agents and their stockholders more than to serve you. The same policy can cost $983 or $384. Just $19.95 at Amazon:  http://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

Middle class is withering away—47% don’t pay tax and 67% corporations don’t pay tax

Since 2009, wealthy Americans’ incomes have continued to pull away from the rest of society. That shift represented the equivalent of $884 billion moving from the middle class to the most affluent. In the aftermath of the recession, income inequality in the U.S.reached a new high in 2011, Census Bureau data show. The public rejects explicit calls to share or redistribute wealth even while supporting policies that do so, including raising taxes on the wealthy or maintaining programs such as Social Security. The top 1 percent of families garnered 93 percent of the income gains in 2009 and 2010, according to an analysis of Internal Revenue Service data by Emmanuel Saez of the University ofCalifornia, Berkeley. http://www.businessweek.com/news/2012-09-28/wealthy-americans-gain-even-as-republicans-decry-redistribution

Is your mutual fund right for you?

With expenses of 4.16%, Midas Magic fund has lost money while the fund owners have done well. While many funds are reducing their costs due to the competition from Vanguard and others, some fund owners/managers want more. They offer incentives to sellers no matter how badly the funds perform. If your funds are lucky enough to earn 11%, the market averages, you would receive less than 7% with the same risk. This does not include any broker fees and commissions. So now you are really in the hole.

And really, what are the odds your fund will beat the averages?

There were only 40 days from 1950 to 2007 that produced 70% of all the S&P 500 index’s total returns. That is 40 out of 14,528. You will lose money if you trade mutual funds in the hope of finding the right one, according to John Bogle, Don’t Count on It, p 169. Count on the averages to make you a Patient Millionaire: https://www.createspace.com/4000350

10 cars that cost you more in an accident

The IIHS Status Report, published on Sept. 20, contains a table of personal injury protection (PIP) claims for cars manufactured between 2009 and 2011. It also ranks the 10 most dangerous cars on the road by PIP claims. Check yours.  http://www.cnbc.com/id/49169227/10_Bad_Luck_Cars

Vehicle Insurance:  Beware: Double Coverage 

by Dan Keppel

Save $22,000 with the right policy.

Your policy duplicates at least three coverages.
The same 2-car policy can cost $1,400 or $3,600.
Create a Wealth Reserve^TM to self-insure small risks.
Accumulate $100,000 in 15 years to protect your future. 

http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

Feds accuse some annuity sellers of cramming inappropriate products on vets

According to the GAO report, some planners were placing senior veterans in products that may not be age-appropriate because the veteran may lose access to funds needed for future expenses. For example, the GAO reports that some organizations may sell deferred annuities to an applicant that would make their funds unavailable to them during their expected lifetime without facing high withdrawal fees. The premium investment is not received for several years and withdrawing funds from it early can be very costly. This kind of annuity would probably not be desirable for an older veteran. Vets should not buy an annuity before considering the alternatives. Annuity sellers are not unbiased about alternatives even though accredited by the VA. See commission-less alternatives first:http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

CA law controls long-term care insurance premium increases

AB 999 will help protect consumers from excessive premium rate hikes in long-term care insurance by modifying the rate development process. CA will ask insurers to prove a rate request. The buyers of LTCi still need to consider price changes BEFORE they buy since more than half of all policies are dropped before benefits are paid:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Which President is best for stock market growth?

Reagan? Bush? No, not a republican.

Fortune shares the facts:

http://finance.fortune.cnn.com/2012/09/19/obama-romney-stocks/

Romney plan will hit middle class with loss of mortgage interest/property tax deductions

Romney plan to cut taxes is designed to spur economic growth, though a Congressional Research Service study concluded that previous rate-cutting had “little association” with saving, investment or productivity, although it did exacerbate the rich-poor gap.Corporations already have more cash on hand to build new plants than ever before. They are building the plants overseas or storing the cash overseas where there is no tax. They don’t need a tax break. Romney’s 1% don’t need a tax break—they are “investing” in tax avoidance schemes, not new industry for new jobs. See how Romney did it below.

FREE online home inventory makes ‘proof of loss’ a click away

The Insurance Information Institute's free online home inventory software. This application makes creating and updating your home inventory easy and efficient. And with the free, secure online storage you will have access to your inventory anywhere, any time. You never know when a disaster may strike, but you can be prepared with an up-to-date home inventory. https://www.knowyourstuff.org/iii/login.html

Vanguard will lower costs again

Through the first nine months of the year, Vanguard, thanks largely to its focus on low costs, attracted nearly $1 of every $3 invested. Vanguard is changing the benchmarks for some funds and ETF in order to use lower-priced index benchmarks.

CA offers to run pensions for small employers

First state-run pension program for nongovernment workers targets firms that don't offer 401(k)s. This will be done at lower cost than most businesses can afford. The law requires companies to contribute 3 percent of a worker's salary to a retirement account. Workers will be enrolled in the program unless they choose to opt out. Employers with 5 or more employees will be offered the funds run by the California Public Employees' Retirement System, the biggest U.S. pension with the lowest costs. Cost is the best predictor of investing success according to rating firm Morningstar: http://www.amazon.com/New-American-Retirement-System-Tax-FREE/dp/1461030072/

Employers must provide a summary of benefits and coverage on our health plans

SBC must contain specified information regarding the plan's coverage, including: cost-sharing (deductibles, coinsurance, copayments and the like) for each category of benefits; exceptions, reductions and limitations of the coverage; renewability and continuation of coverage provisions; and coverage examples explaining how benefits will be provided under the plan for specific health conditions. The SBC must also contain certain other statements and contact information. Most employers have not complied. See details:http://www.lexology.com/library/detail.aspx?g=908d77ad-2e5f-4b3c-b89e-a2c97fe99b8e

GOP voter registration scandal repeats 2004 problem firm

Republicans are playing defense over voter-registration fraud. Some organized Republican voter-registration drives have virtually ground to a halt as Republicans fired Nathan Sproul’s firm, Strategic Allied Consulting, in seven battleground states. SAC is now under investigation for voter-registration fraud by Florida in as many as 10 counties involving at least 220 suspect forms. GOP paid $13 per name for new GOP-only registrations. It’s such a mess that the Republican Party of Florida has filed an elections complaint against the Strategic Allied Consulting, which then turned around and bashed…. The Republican Party of Florida. Another company of Sproul’s, in 2004, was accused in Nevada, Arizonaand Oregon of elections irregularities, including allegations that employees destroyed the newly collected registration forms of Democratic voters to keep them off the rolls.  InColorado, a hidden video captured one Strategic employee trying to register only Republicans. This is illegal.

RomneyCare would leave 72 million without health care—Two Americas: Red/Blue

A new study released by the private foundation, The Commonwealth Fund, has revealed that 72 million Americans would be uninsured by 2022 if Republican presidential nominee Mitt Romney wins the election and has his health care plan enacted. The study also found that Romney's plan would cost Americans more money. People who choose to buy health insurance on their own would pay 14 percent of their income, compared to only 9 percent under the ACA, The Commonwealth Fund stated. The Congressional Budget Office and the Joint Committee on Taxation added that repealing the ACA would cost a federal budget deficit of $109 billion between 2013 and 2022. The study estimates that 30% to 37% of TX residents would be uninsured compared to 3%-10% in MA.

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

Romney avoided tax on $100 million and gave it to kids without gift tax

He avoided gift and estate taxes by using a type of generation-skipping trust known as an “intentionally defective grantor trust” IDGT which permits wealthy people to establish dynasties. The whole reason for the estate tax was to outlaw perpetual wealth.

If Romney had given the cash, like most people, he could have owed a gift tax at a rate as high as 55 percent. The trust's value isn't counted in the $250 million that his campaign cites as Romney's net worth. By dodging the estate and gift tax, they are able to build dynastic wealth. The Obama administration estimates that closing the loophole Romney used would bring the federal government $ billions in the coming decade. One observer said that a single billionaire could pay $500 million more in estate taxes if these trusts are shut down by the Obama administration. What deficit? http://www.bloomberg.com/news/2012-09-27/romney-i-dig-it-trust-gives-heirs-triple-benefit.html

Who owns your account now?

The Hartford's individual life insurance business to Prudential Financial.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Is Long-Term Care Insurance right for you?

Is Long-term Care Insurance right for you?

Rating firm Moody's says the health of the long-term-care business is questionable. Of the 15 companies that generated the most statutory earned premiums for LTCI in 2010, five either no longer sell the product or have curbed sales. The list includes John Hancock Life Insurance Co., MetLife Inc., Unum Group, CNO Financial Group Inc. and Prudential Financial Inc. Many owners have to drop coverage as premiums rise. 

Compare the alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/ . $19.95

Is dog bite protection right for you?

Dog bite claims are on the rise and account for more than one-third of all homeowners insurance liability claim dollars in 2011. Every owner thinks their pet is God’s gift so coverage is not considered. Reality sets in when you receive a notice of suit. Between medical and settlement costs, your homeowners may not pay all. For a couple of hundred dollars you can protect yourself with an umbrella liability policy. Some breeds are NOT covered so ask. Most dogs respond to young children well but practice with known situations. Consult specialists if your pet is aggressive with the unknown. Use our Guide to pick the right “umbrella:” http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Don’t stand near post office buildings

U.S. Postal Service asks Floridians to stop crashing into post offices

This year so far, eight drivers have crashed into post offices in Central Florida alone. Post office “tips” include: Visibly check to see whether your foot is on the gas pedal or the brake pedal," and "Visibly check to see if the vehicle is in Park, Reverse or Drive."

Medicare premiums will rise only $1.47 next year – overall spending down

Monthly premiums for popular private insurance plans through Medicare are only inching up next year, the Obama administration said. Average monthly premiums for Medicare Advantage plans will rise by $1.47 in 2013 to $32.59, said Blum. When premiums and out-of-pocket costs such as co-payments are combined, Medicare estimates that beneficiaries will actually spend less on average. e administration says Medicare Advantage premiums have gone down 10 percent since the president's health care overhaul passed in 2010.

KS questions Obama’s birth and presidency AGAIN—GOP never gives up

Kansas election officials on Friday were seeking to obtain a certified copy of President Obama's birth certificate as they determined whether to allow him to remain on the ballot after a state resident challenged his citizenship. Here it is: http://www.whitehouse.gov/sites/default/files/rss_viewer/birth-certificate-long-form.pdf

GOP never gives up or has KS moved that far to the right?

Romney never had to prove he wasn’t a Mexican.

It is only because he is black that Obama has to show he is American

GOP hopes to win election by ending our deductions!!

If elected president, Mitt Romney has promised he will create 12 million jobs, replace Obamacare and the Dodd-Frank financial reforms, slash corporate tax rates, preserve the Bush income tax cuts, and then cut an additional 20 percent to boot. And, oh yes—balance the budget.

How does Romney propose to pull off this feat of budgetary magic? He isn’t saying. He has said he wants to end loopholes to pay for this: charitable giving ($47 billion), mortgage interest ($89 billion), retirement savings ($118 billion), and employer-provided health insurance ($131 billion). Aren’t these cuts going to raise our taxes? http://www.businessweek.com/articles/2012-09-13/mitt-romney-and-the-fantasy-budget

How much do we really spend out of our paycheck? Less than HALF?!

Elections are about taxes. In 1960 middle-income Americans paid less than 30 percent of their earnings in local, state, and federal taxes; today that figure is up to 40 percent. Many middle- and upper-income families living in the states that have the highest taxes, such as New York and California, pay nearly 50%—HALF—their incomes in taxes. High taxes reflect the growth of government. Subsidies go to every group.

We pay Federal and state income taxes, Social Security and Medicare, state sales tax, gas tax. In some states, we pay workers compensation insurance, family leave insurance, disability income insurance, unemployment insurance. Some of us then have to pay our employer for union dues, health insurance, life insurance, long-term care insurance, etc. Some then have chosen to pay for retirement 401k, 403b, etc. Some also pay property tax, homeowner fees, road tolls to get to work, etc. Some pay interest on cars, etc. Some pay student loans. Some give a tithe to religion. The only tax credits we have are taxes, charity, mortgage, retirement and health insurance. Now even these are at risk.

The Patient Millionaire

You don't need an advisor to earn $100,000, $500,000 even a $1,000,000 tax FREE! You can do it yourself using the same low-cost high-return mutual funds that pension fund managers use.

You already have the power to control the process they use to earn your first $1,000,000. After that, it is easy to double your money without income taxes or advisor fees. There is no reason why you can't become a Patient Millionaire. You can also use a tax-advantaged account like they do. You can compound your money into $1,000,000 with monthly contributions of just $250. Compounding high investment earnings is “the most powerful force in the universe,” Einstein said. Simple but powerful AND you pay NO tax AND NO advisor/broker account fees for life.

Law Steeple is one of our Insiders. Just $12.95

https://www.createspace.com/4000350

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

Who are the 47% of Americans Romney says don’t pay income taxes?

There are 78,000 tax filers with incomes of $211,000 to $533,000 who paid no federal income taxes last year. Even more amazingly, there are 24,000 households with incomes of $533,000 to $2.2 million with zero income tax liability, and 3,000 tax filers with incomes above $2.2 million with the same federal income tax liability as most of those with incomes barely above the poverty level.

http://economix.blogs.nytimes.com/2011/06/28/who-doesnt-pay-federal-income-taxes-legally/

Congress people and staff not paying taxes either

The Republican-led House passed legislation last month that raised the consequences for federal civilian workers behind on their taxes, or anyone who wants to work for the government. Supporters say the measure is necessary to hold employees accountable, collect about $1 billion past due and foster confidence among Americans that public servants aren't ditching their tax obligations. Employees of the legislative branch — which includes members of Congress — owe millions, too. In the U.S. Senate, 217 employees owed $2.1 million; 467 workers in the House owed $8.5 million.

IRS has the power to put a lien on salary but some have friends in high places.

Some states will not renew a driver’s license if you owe taxes.

Guilty banker gets out of jail and collects $104 million as he passes GO!

First, the government threw Bradley Birkenfeld in prison for helping a former client at UBS AG hide his wealth from the Internal Revenue Service. Now, as part of the same case, the IRS has awarded the former banker $104 million for helping expose the widespread tax evasion scheme by the Swiss banking behemoth. The IRS collected $5 billion in back taxes and penalties from 4,700 Americans who held secret overseas accounts and $780 from UBS.  

What a business!

John Hancock helps business owners avoid paying taxes

John Hancock sold a tax shelter called the Benistar plan, which was intended to provide benefits funded by life insurance policies. Customers are now suing the insurer and their law firm which provided a letter of plan legality. In 2008, the IRS declared the Benistar plan an "abusive tax shelter" and assessed back taxes and penalties on the customers. Benistar plans claim a business can make unlimited tax deductions for contributions and employees can receive benefits free of tax using the insurance exemption. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Is timing our Social Security benefits important?

Is timing our Social Security benefits important?

When planning retirement benefits, know the rules:

1. Starting benefits at age 62, cuts benefits for life. Women live longer and are more likely to end up with SS benefits alone. Women who wait to age 70 receive ¼ more than at age 62 or 65, so waiting may be best for her.

2. Coordinating benefits and working may help both of you. This recession’s structural unemployment affects men more than woman. Men can take benefits at age 62 if they cannot find meaningful work. Women can continue working to age 70 to maximize their benefits and take ½ the man’s benefits if they have attained their full retirement age. http://www.ssa.gov/retire2/retirechart.htm The total benefits may equal what the man would have received if he started later. This preserves the woman’s increase in benefits for the rest of her life. She loses nothing of her own work credits by taking his too.

3. Medicare can be engaged at age 65 but may not be needed if the woman’s coverage is better or cheaper through her employer. Medicare does not cover all expenses. Medicare supplements and Part B are usually necessary. http://www.medicare.gov/sign-up-change-plans/decide-how-to-get-medicare/original-medicare/how-original-medicare-works.html

It may be helpful to meet with a SS official when one of you reaches age 62 to find out what works for you. Call your local office for an appointment and free analysis.

 

CAUTION: Advisors giving poor advice to clients on SS, survey says

The newly released findings from the Wharton School's Pension Research Council concluded that “many advisers still approach Social Security claiming as an individual decision rather than a household decision (even though) clients would be better served if a household- approach was utilized.”

 

Financial Power in the 21st Century: $1,000,000 Tax-FREE

Accumulate $200,000, $500,000, $1,000,000 with NO taxes …  EVER.

Financial power in the 21st century is tax-FREE income

• Use a special tax haven to protect all your dividends, interest and capital gains
• Contribute $9 a day to your tax-free account
• Earn 9% a year on your wealth with no income taxes
• Spend 9% of your wealth with no income taxes

Isn't it time you started using the tax laws to your benefit like the people in the top 1% ! How does Warren Buffett pay only 17% total tax?  http://www.youtube.com/watch?v=Cu5B-2LoC4s

How does Mitt Romney pay less than 13.9%? You may not receive $21 million a year like Romney does but you can use a tax haven he can't use to compound $9 a day into $1,000,000. Compounding high investment earnings is “the most powerful force in the universe.” Compounding is money earning money on its earnings over time. Simple but powerful and ... no tax … ever.

Show More

Show Less

 

Two Americas—states providing health insurance to uninsureds

California, Connecticut, Hawaii, Iowa, Maryland, Nevada, New York, and Vermont have received new grants to help support the establishment of Affordable Insurance Exchanges. GOP states have said no to Exchanges for us.

 

TX voters will NOT need special ID to vote—GOP lost voter supression tactic

A federal appeals court in Washington Thursday struck down the Texas voter ID law requiring photos for voters at the polls, calling it racially discriminatory.

The decision is a major victory for the Obama administration and its Democratic allies, which had challenged the law.

 

Is critical illness insurance right for you?
This insurance is being pushed as a group plan in small companies. However, it only covers the unusual illness-- such as cancer, heart attack or stroke. If you have to go the hospital for other reasons, you may be faced with a large bill you can’t pay. This kind of policy is popular in Canada because everyone is covered already by national health and it is the only product insurers can sell. If you cannot afford a comprehensive policy which covers all the expenses of these illnesses, compare a high-deductible comprehensive plan. You will have a limit on your expenses but large bills will be covered. You do not need critical ill policy if you have the more comprehensive one. http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

 

 

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

 

Romney/Ryan claim to cut taxes AND not increase the deficit—except for workers!

Romney is still committed to making his tax cuts "revenue neutral"--in other words, not leading to an increase in the deficit.

When asked how this was possible, given the magnitude of the cuts (20% across the board on personal income taxes, along with a 10-point cut to corporate income taxes), Hubbard, his spokesman, explained that the cuts would be offset by:

• Stronger economic growth, and
• "Broadening the base" of taxpayers (in other words, having poor and lower-middle-income Americans pay income tax)

In the past, Romney has also promised to increase revenue by eliminating some loopholes and deductions. Romney has never been specific about which loopholes he would eliminate, and Hubbard did not provide any specifics.

Earlier this year, the Tax Policy Center concluded that it would be impossible for Romney to cut income taxes across the board and make the cuts "revenue neutral" without also effectively increasing taxes on the lowest-income Americans (and that was when the Romney plan called for merely maintaining current tax rates, not cutting them). The Romney campaign dismissed this conclusion as factually wrong and "partisan."

But stronger growth means LESS revenue for government when rates are cut and taxing low-income working people means LESS demand for products in US.

 

We saw this movie before. The job ‘creators’ moved their Bush tax cuts to Bermuda and left us with the debt. http://finance.yahoo.com/news/u-firms-move-abroad-024200566.html. Reagan and Bush started the deficit climb; Bush II added to it. See chart at http://www.ritholtz.com/blog/2010/05/national-debt-by-president/

 

 

 

Why my IRA has not grown to $10l.6 million like Romney’s has.

Mitt Romney made use of arcane techniques in several of its Cayman Islands-based funds to avoid U.S. taxes, according to a trove of Bain Capital's private audit and finance records made public on the website Gawker today.

The audited financial statements of one of the Cayman Islands funds make note of the use of "blocker" entities, which are used to help retirement accounts and nonprofit entities avoid some taxes. Financial statements for another fund note that it "intends to conduct its operations so it will … not be subject to United States federal income or withholding tax ..."

http://www.newyorker.com/online/blogs/johncassidy/2012/08/the-gawker-romney-files-seven-takeaways.html

 

Congress allows hedge funds to rip off the gullible

New rules allow any manager to sell “private placements” to those who wish to become “instant millionaires.” One commentator wrote: ‘The “JOBS Act” has authorized virtually any company to offer securities to the public without review or registration. This event is as catastrophic as the repeal of the Glass Steagall Act. Within the year, there will be horrendous stories of fraud by companies using this act and of the powerlessness of securities agencies to take any action because of the act.’

 

Who owns your account now?

TD Insurance, a subsidiary of TD Bank to USI Insurance Services

 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

 

 

Lies My Financial Advisors Told Me

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

Women need to start building tax-FREE wealth now --$100 to start

Retired women continue to rely on Social Security at higher rates than retired men, with 16 percent of women and 12 percent of men age 65 and older depending on those payments as their only income in 2010, according to a recent report. Women who started late were still able to create a Tax-FREE Retirement: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Medicare helps start new health insurer in CO

The Centers for Medicare& Medicaid Services awarded a $69,396,000 loan today to Colorado Health Insurance Cooperative, Inc. in Colorado to launch a new private non-profit, consumer-governed health insurance company, called a Consumer Operated and Oriented Plan (CO-OP). "CO-OPs will promote competition and give consumers more health insurance choices," said Marilyn Tavenner, CMS Acting Administrator. "These new private nonprofit insurers will be run by consumers and are designed to offer individuals and small businesses more affordable, consumer-friendly and high-quality health insurance options."

Free medical screenings begin

Eight new health insurance requirements under the Affordable Care Act covering women's health -- from wellness visits to contraception -- take effect Aug 1 and will benefit millions of women. But the rules already face multiple legal challenges from Roman Catholic institutions and others who say the contraceptive mandates violate their religious freedom. The changes, which eliminate co-payments for wellness examinations, breastfeeding support, supplies and counseling, and screening and counseling for domestic violence will "improve health for women and their children," Karen Davenport, director of health policy for the National Women's Law Center, said Tuesday.

The Department of Health and Human Services estimates the new benefits will be extended to 467 million women as their new or altered insurance plans take effect over the next year, Davenport said. Women will have access to all major forms of birth control without any kind of co-pay, said Jennifer Frizzell, senior policy adviser for Planned Parenthood of Northern New England.

Other women's benefit expansions that begin Wednesday include screening for diabetes during pregnancy, human papillomavirus (HPV) testing, and counseling and screening for human immune-deficiency virus (HIV) and counseling for sexually transmitted infections.

On the floor of the U.S. Senate on Tuesday, Sen. Jeanne Shaheen, D-N.H., said, "This will make a real and lasting difference for every woman across this country who can be ... screened for HIV, get a flu shot or receive DNA testing for certain cancers at no cost. Finances will no longer stand in their way.

HALF of US in crisis drought

More than half of all U.S. counties — 1,584 in 32 states — have been designated primary disaster areas this growing season, the vast majority of them mired in a drought that's considered the worst in decades. To help ease the burden on the nation's farms, Agriculture Secretary Tom Vilsack on Thursday opened up 3.8 million acres of conservation land for ranchers to use for haying and grazing. Under that conservation program, farmers have been paid to take land out of production to ward against erosion and create wildlife habitat. "The assistance announced today will help U.S. livestock producers dealing with climbing feed prices, critical shortages of hay and deteriorating pasturelands," Vilsack said. Vilsack also said crop insurers have agreed to provide farmers facing cash-flow issues a penalty-free, 30-day grace period on premiums in 2012.

Accumulate $1,000,000 with NO taxes EVER.
+Take $6,600 monthly income FREE of income taxes.
+Avoid tax on up to 85% of your Social Security benefits.
+Turn your taxable pension or IRA into tax-FREE income.
+Use a special tax haven to protect all your earnings and gains.

Where is your sloop going? A retirement portfolio that flies. $12.95 Just published https://www.createspace.com/3948629

Penn State insurers refuse to pay for institutional crimes

Penn State faces $60 million in NCAA penalties, more than $10 million in investigative and public relations costs, and the possibility of many millions more in defense and damages for claims by victims of Sandusky's abuse. But Penn State's insurers say they won't pay. State Farm insurance company has brought a federal lawsuit to get out of paying Jerry Sandusky's considerable legal bills.

Will the lawyers work for free?

45% of eligible retirees take Social Security at age 62

The share of workers claiming early retirement benefits under Social Security has decreased since 2004 when about 58 percent of retirees take benefits at the earliest possible age of 62. The monthly benefit for today's new retirees is reduced 25 percent if claimed at the early eligibility age of 62. High unemployment cycles encourage people to take the money early. However, living on less in the future will be a problem for many. Make sure you have enough: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285/

Long-term care insurance rates up 50% at GE

Genworth GE said it will raise rates on a majority of its older long-term care insurance (LTCI) policies by 50% over 5 years and to raise rates on many of the oldest "new generation" LTCI by 25% over 5 years. But profits have fallen short of expectations because of lower-than-expected lapse rates, higher-than-expected claims, and low interest rates, and "we believe that early intervention on the newer block is important to managing the performance of this business," Kelleher said. Company executives said Genworth hopes LTCI rate increases already being implemented will add $50 million in new revenue this year and $60 million next year, and that the new rounds of rate increases will add $200 million to $300 million in annual revenue. Time to look at alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

GOP Bachmann raises $1 million: says Muslim Brotherhood in State Department

During July, Bachmann drew headlines for her letters, signed with four other members of Congress, accusing the Muslim Brotherhood of "deep penetration" within the U.S. government and singling out longtime Secretary of State Hillary Clinton aide Huma Abedin. Bachmann faces reelection.

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

Romney won’t release tax returns to public and now we know why

Senate Majority Leader Harry Reid is not backing down from his second-hand allegations that Mitt Romney did not pay taxes for 10 years, but he still won't name his sources for the unproven claim. Reid said earlier this week that an investor in Romney's former private equity firm told him the Republican presidential candidate paid no taxes for a decade. But Reid would not identify the Bain Capital source and acknowledge that he doesn't know if the sensational claim is correct. “I have had a number of people tell me that." But he still wouldn't name his sources. "I don't think the burden should be on me," he said. "The burden should be on him. He's the one I've alleged has not paid any taxes. Why didn't he release his tax returns?" http://www.nydailynews.com/news/election-2012/harry-reid-continues-pushing-allegations-mitt-romney-paid-taxes-10-years-article-1.1127323#ixzz22P5VMRzX

This is why his fortune is in Ireland, Switzerland, Luxembourg, Bermuda and the Cayman Islands, reports the New York Daly News, and not in the US. We are making up for his lack of tax payments.

Who owns your account now?

Woodbury Financial, (Hartford) with 1,400 reps and advisers to AIG.

Family Heritage Life Insurance to Torchmark Corporation

Zecco and TradeKing announced their intention to merge

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com