Who does NOT pay taxes?

Who does NOT pay taxes?

44% of Americans don’t pay income taxes. The best way is to be really rich: take all your income from tax-FREE muni bonds, Roth IRAs, South Dakota income trusts and other tax evasion tricks only the rich can afford to set up. Many rich and over 2/3 of corporations have enough tricks to pay less tax than working-class Americans—under 15%--like Apple, Warren Buffett, Mit Romney, John Kerry and many members of Congress.

You don’t think they got to be millionaires and billionaires by paying the legal IRS rate of 39.5%, did you?

The only people who pay the rich people’s rate are average workers like Warren Buffett’s secretary. Her tax rate was 36% not counting her pension dues. http://abcnews.go.com/blogs/business/2012/01/warren-buffett-and-his-secretary-talk-taxes/

The poor don’t pay tax. Their wages are so low that the Earned Income Tax Credit (welfare) and child-related tax breaks offset what they owe. Another way is that your wages are so low that you are under the minimum society says you need to survive: in 2013, the minimum are $10,000 for single individuals, $12,850 for heads of household and $20,000 for married couples filing a joint return. Many seniors, especially women, receive less than this from Social Security and savings.

You can avoid taxes legally at low cost: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

1^st class postage went up 4.7% in 50 years—how is your savings?

In 1964, postage was 5 cents. In 2014 it is now 49 cents. Postage went up in price like everything else. Are your savings keeping up with inflation? Did your bank savings grow at 4.7% over this period? If not, you lose purchasing power and can’t afford a stamp. If you were investing $100 a month in the stock market during that time, you would have about $4 million today. It is TIME that makes money grow. Start now: http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455

Insurer now offers ‘sign up by text’

New quick enrollment from the Principal Financial enables individuals to sign up to save for retirement in minutes with a text message. "One of the easiest ways to save for retirement is through an employer-sponsored retirement plan, yet the biggest hurdle is simply getting individuals to sign up," said Jerry Patterson. "We know people have good intentions, but while many eligible employees say they are going to take action, many of those same employees don't. By making the process quick and convenient, we're able to battle inertia and get individuals to start saving right away." Typically, insurers provide the highest cost mutual funds in employer plans—ING, HSBC, Principal and Prudential are noted: http://www.fundsupermart.co.in/main/fundinfo/worst_Funds.svdo

Most funds don’t beat their low-cost index equivalent

Morningstar reported that 79% of large-cap mutual funds lost out to the S&P 500 Index. Low-cost index funds have the largest amount of investor funds and show consistent 10% plus returns long-term. Vanguard’s 500 Index costs 0.05% and has provided 11% average annual return since 1976. With modern investing, the best costs the least: http://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223

Youngest woman billionaire

Sheryl Sandberg’s fortune surpassed $1 billion today after Facebook’s stock closed at a record high, making her one of the youngest billionaires in the U.S.

Small cars are dangerous—one is ‘acceptable’

The smallest cars on the road carry the biggest injury risk in a common and deadly type of crash, a report released Wednesday reveals. Only one of 11 small city and minicars passed the Insurance Institute for Highway Safety's small front overlap crash test in which a car hits a barrier with the front driver's side corner at 40 miles per hour. Chevrolet Spark is the only car with ‘acceptable’ rating.  The worst performer was the Honda Fit, which earned a "poor" rating in the test along with five other models and all but one of the rest were "marginal." Thus, Spark is the only one in the group to earn the IIHS Top Safety Pick designation. However, there are safer cars for the money.

Supremes may kill union memberships

Home-health workers want the court to hold that permitting the unions to collect fees for representing non-members—the so-called “agency fee”—violates the First Amendment.

At least four members of the Court seemed ready to reach that “radical” result. The fate of public employee unionism in the nation seemed, by the end of the argument, to lie in the hands of Justice Antonin Scalia. Ouch. Unions negotiate benefits for non-paying and paying members. Non-payers will get free ride until unions fold. Membership is already falling and losing political power. Is this the end?

Employees reduced to part-time to avoid ObamaCare

Target said it will end health insurance for part-time employees, joining Trader Joe’s, Home Depot and other retailers that have scaled back benefits in response to changes from Obamacare. 

Shopping ObamaCare plans important to reduce premiums

A recent survey of plans demonstrated a wide range of deductibles and out-of-pocket cost caps called “stop-loss” amounts for similar plans.

In order to demonstrate the range of cost-sharing within each health plan tier, HealthPocket examined the lowest to highest deductibles and out-of-pocket caps for the new Affordable Care Act health plans in 34 states. In three of the four health plan tiers (bronze, silver, and gold) HealthPocket saw deductible ranges spanning thousands of dollars among insurance policies belonging to the same category. The largest range was within silver plans where the lowest deductible recorded was $0 and the highest was $6,250. The smallest range was among platinum plans where the lowest deductible was $0 and the highest was $1,000. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

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] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

No unemployment insurance for the uninsured

Congress maintained their lobbyists’ favorite pipelines after Christmas but not for those laid off by the outsourcers and “job creators.” House Republicans counter that they have approved legislation they say would spur job growth—cut tax and regulation on toxic spills and raise the deficit.

"You see a mentality among the Republicans and their leadership that basically says when people are down and out and need a helping hand, we're not going to give it to them because they're lazy, and the only way to get them up off the couch and away from the television and off to work is to stop sending unemployment checks," said Senate Majority Whip Richard Durbin, D-Ill.

Congress put itself back on the couch and took a week off after 1 week back. Great jobs!!

Can Congress stop taking paychecks for no work and pay for unemployment benefits?

Here is the money to pay for unemployment benefits!!

The IRS still held an estimated $917 million in unclaimed federal tax refunds for 1 million workers who didn’t file taxes in 2009.

Boss gives himself a raise despite bad behavior

Despite the legal troubles that JPMorgan Chases faced in 2013, which amounted to more than $20 billion in fines, Jamie Dimon, the bank’s chairman and chief executive, is getting a raise.

Most of the unemployed could do that job! Get $20 billion fine and ask for more pay.

Taking responsibility by NOT

Freedom Industries, responsible for the chemical leak that left portions of West Virginia without water for days, filed for Chapter 11 bankruptcy. So much for taking responsibility by “Freedom” industry execs. “Freedom” owes more than $2.4 million in unpaid taxes and roughly $4,000 in unpaid unemployment compensation insurance. It appears that the officers have been FREE from responsibility many times in the past. http://online.wsj.com/news/articles/SB10001424052702303819704579316951855899732

How do criminals get lines of credit for this operation?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

10 worst money mistakes

Are your …
Investments earning less than the market average of 10%? 
Advisors taking fees without meeting your goals? 

(There are NO refunds if they fail.)
Trading costs and taxes eating up your profits?
Emotions freezing you out of the stock market?
         You can correct these mistakes by using the time-tested strategy proven successful by Warren Buffett. 

http://www.amazon.com/10-Worst-Money-Mistakes-them/dp/1494401223

Know your score before you buy

Recently, a reader tried to buy a $2500 bed using a retail stores’ credit facility—GE. They were only allowed $1000 to buy a bed. This reader had never applied for credit before which accounts for the lower amount. Know your score before you shop for a big ticket item and avoid the waste of time trying out what they won’t finance. Payment history is the single most important factor, making up 35% of the FICO formula. There are websites that provide a credit score or an estimate. The sites—Credit.com Inc., Credit Karma Inc.'s CreditKarma.com and Quizzle.com—also offer products for sale. You can check your credit reports for errors FREE atAnnualCreditReport.com once every 12 months from each of the three bureaus. Audits have found about 20% have errors. http://online.wsj.com/news/articles/SB10001424052748704252004574459011384380556

You knew all along—insurers gauge poor credit holders

New research shows that, holding all other factors constant, the two largest auto insurers, State Farm and Allstate, charge moderate-income drivers with poor credit scores much higher prices than drivers with excellent scores. Insurers fear poor payers are poor driving risks: reckless behavior is reckless behavior. Insurers only want drivers who don’t make mistakes. Shop the insurers who want more insureds. http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Saving money online made easy

You can save a bunch by buying almost all your needs online. Use the tips here to save on regular stuff:http://www.moneytalksnews.com/2013/12/05/10-secret-strategies-to-save-big-bucks-at-amazon/ You can even save when your friends use Amazon. For financial products like insurance and mutual funds, you can save $3,000 or more every year by avoiding the middleperson and shopping online. Most products are standardized commodities. The Internet helps you learn exactly what you need and how to avoid fees and commissions that can take up to 63% of your nest egg over time. You can even use an IRS-approved account that let’s you avoid all income tax. Yes, it is tax-FREE: http://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223/

Do you regret taking SS benefits early?

You have 12 months from the date of your initial claim to change your mind. If you do, you must repay all the benefits you have received, plus those of anyone else who has received benefits on your earnings record, such as a spouse or dependent child. In return, you get to increase your benefits by about 8% per year until you reach age 70 when benefits can’t be increased. However, benefits are taxable depending on your income so it might be wise to consider building a tax-FREE account instead.http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

End of work unions—back to middle ages when agreements were broken at will

A U.S. bankruptcy judge’s ruling that pensions can be cut to reduce the city of Detroit’s $18 billion long-term liabilities is a “watershed” event in the history of municipal bankruptcies, according to a credit analyst. U.S. law allows for contract cuts in bankruptcy, and supersedes Michigan law protecting pensions. “Some places like Chicago and Philly with low pension levels and high unfunded levels will have to be addressed,” she said. How is your state-funded pension? http://www.governing.com/gov-data/state-pension-funds-retirement-systems-unfunded-liabilities-obligations-data.html

More talk of changing our SS benefits—benefits we paid for already!

Sen. Rob Portman, R-Ohio, said he also wants to find ways to encourage people to save more. "We have to make sure people have a backstop," he said. "Social Security was never meant to be a backstop."

But that is exactly what it was intended to be. The act was an attempt to “limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children.”

Portman spoke to financial advisors and encouraged the SEC to allow them to give “common sense” advice instead of following the fiduciary rule (use the best product for the client not yourself).        

So we can’t count on our SS benefits or our pensions anymore. They can be cut by our “representatives” and the judges they appoint. 

Lower fees boost retirement earnings

A new survey released by Aon Hewitt finds that employers are boosting returns on retirement savings at very little extra cost through lower fees, and by offering non-mutual fund alternatives and adding passive management strategies to the investment mix. Switch to tax-FREE retirement funds and gain 30% more: http://www.amazon.com/Reboot-investing-Law-Steeple-MBA/dp/1484988035

New 401k fee disclosure documents fail to disclose fees

Nearly 40% of working consumers currently contributing to a retirement plan believe they don't pay any expenses in their 401(k). Limra found that only one in three participants spends more than five minutes reading the disclosures, and only 12% were able to estimate just how much they pay in fees. Fees can take up to 63% of our nest egg over time. Yet the industry continues to hide the fees with legal language to confuse inside 20-page documents. See your fees! Use low-cost funds, earn more: http://www.amazon.com/Robbing-You-Blind-401k-fees/dp/1493588966

Vanguard founder pleads for standard: “best interest of client” for all

A longtime financial markets leader called on federal regulators Tuesday to stiffen their spines and propose rules that would require everyone providing investment advice to act in the best interests of their clients. There is widespread opposition to fiduciary duty rules being considered by the Labor Department and the Securities and Exchange Commission, John Bogle, founder of The Vanguard Group, said. Bogle has long said that regulators must “Apply fiduciary duty to anyone 'touching other people's money'.”  Meanwhile major brokerage firms are increasing their brokers pay to incentivize them to court wealthy clients only. You are the best judge of your needs: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Long-term care insurance rates to rise--guaranteed

“It is impossible to be in this business long-term, if you have to set all of your assumptions based on the date the policy is issued and you can never change or re-rate the policies,” Genworth CEO McInerney said. The insurer is requesting premium increases of 6 percent to 13 percent on some contracts sold from 2003 through last year. Some of the rate increases requested on the older policies were greater than 50 percent, Genworth said last year. Consider the alternatives to constant rate increases: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

Regulators rule to try to protect taxpayers from banks’ gambling

U.S. regulators Tuesday voted to adopt the so-called Volcker rule meant to limit the ability of banks to use their own money to make risky investment bets. The core intention of the Volcker rule is to prevent banks from making market bets with federally insured money, such as depositor money that is insured by the FDIC. Banks would have until mid-2015 to comply with the new rule but many large banks may have already made adjustments. Bank examiners will learn how to test the banks about the rule. Insurer and bank gambling losses were covered by taxpayers in 2008. Most have been paid back. All GM stock was finally sold December 2013. America socializes the risks of bankers and privatizes the benefits for bankers. 

American’s health better—smoking down but diabetes up

An annual measure of the nation's health status finds evidence that Americans made "a notable shift" toward better health in 2013. The prevalence of diabetes ranges from 7% of adults in Alaska to 13% in West Virginia. Hawaii scored well on most measures.Mississippi is ranked last this year.  It looks at 27 measures of health, including tobacco and alcohol abuse, exercise, infectious diseases, crime rates, public health funding, access to immunizations, premature birth rates and cancer and heart disease rates. Last year, Vermont was No. 1.

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

Bush wars increased the debt by $4-6 trillion to $16 trillion. 1985 debt $3 T, same as 1945.

Bernie Madoff Says Prison Is Like Camp—having a great time on the taxpayer dime this time.

What the ????

Newlyweds just three weeks removed from their wedding day lured a Pennsylvania man to his death with a Craigslist ad because they wanted to kill someone together, police said. Elytte Barbour told officers before his arrest Friday night that he and his wife, Miranda, had planned to kill before but their plans never worked out until last month when Troy LaFerrara responded to an online posting that promised companionship in return for money.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Best long-term investment and it's tax-FREE

The Best Long-term Investment: And it’s tax-FREE

Earn 10-12% a year over time.
Pay annual fees of only $50 per $100,000 invested.
Pay NO advisor or broker commission/fees.
Pay NO trading costs or taxes.
Set up your investment policy in 1 hour.
Let the miracle of compounding work for you.
                 by Law Steeple, author, The Miracle of Compounding

You can use the BEST long-term investment ever. It was proven successful by Warren Buffett. Mr Buffett started with $6,000 saved from his paper routes and in 60 years, accumulated $60 billions. Mr Buffett's successful strategy is called compounding.

http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455/

Are you in the SECOND longest bull market in history?

Like most people, I did not realize that the market has been positive for almost two years straight. Most people left after the ’07 disaster and have not come back yet. Media hype is low so few see that this is the time to be in it. Proof: 3-year annual return=18%, 37-year annual return=10.75%. The Simple Financial Life: How to get what you want without going into debt and living paycheck to paycheck. http://www.amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326

ObamaCare provides $5,548 to help buy insurance

Families eligible for tax credits to help purchase health insurance in the new exchange created by the Affordable Care Act will receive an average of $5,548 in instant tax credits. These immediate credits will apply directly to individuals' and families' premiums, making coverage instantly more affordable for those who do not get health care through their employer. These instant tax credits will be available to people earning less than four times the poverty level--about $94,000 for a family of four. This means that 48 percent of people who currently buy insurance for themselves will be eligible for reduced premiums. Buy only what you need and save:http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

GOP House passes ObamaCare repeal bill the 40^th time

These “representatives” are costing us $75 million a year to “do the same thing over and over with the expectation of a different outcome.” That behavior is the definition of insanity, according to some. Ms Bachmann sponsors the repeal bill!

Crash: only HALF of small cars studied receive acceptable rating

The failures: Chevrolet Sonic Volkswagen Beetle Chevrolet Cruze Nissan Sentra Kia Soul Kia Forte (2014). The Insurance Institute for Highway Safety said only two of 12 compact cars earned the highest rating for small overlap tests—the Honda Civic 2- and 4-door models. Toyota's Camry, most popular, did poorly on a new crash test this year. Cars with the institute's highest safety rating: Honda Accord, Chrysler 200, Dodge Avenger, Ford Fusion, Kia Optima, Nissan Altima, Subaru Legacy and Outback, Suzuki Kashai and the Volkswagen Passat.

http://www.cbsnews.com/8301-505266_162-57597549/crash-test-finds-only-half-of-small-cars-studied-receive-acceptable-rating/

TX creates jobs but at $10/hr, working class life is not possible: Is this a Banana Republic?

Texas is a miracle in job creation, gov says. However, it has done it by turning back time to the 1860s, when Chinese work gangs were used to replace Irish workers for ½ wages. Texas workers are paid $10 an hour for long hot days constructing buildings with no overtime, no workmen’s comp, no health insurance; no bathroom breaks, and often pay delayed. Subcontractors promise and then disappear. America looks like Honduras 1870 when it was ruled by 1% owners and 99% worked for 1 cent /hour, no benefits.

Is this the America we want: Two Americas—cheap labor and the 1% owners?

40% drivers say they don’t want car monitor to save premium

Surveys of prospective Progressive Snapshot users have shown that “you get about 30 percent of people saying, ‘Yeah, why not?’; you get another 30 percent of people saying, ‘Maybe, I need to know more’; and you get about 40 percent of people saying, ‘No way in hell.’” Get all your discounts:http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Doctors cutting fees by HALF to eliminate middleman

Physicians who have moved to a direct-pay practice report being able to slash medical care prices charged to patients by half or more thanks to significantly lower overhead resulting from cutting out the bureaucratic red tape and paperwork associated with insurance payment.  Increased face time with patients is another important benefit cited by doctors who have transitioned to direct-pay. Patients can still submit claim for reimbursement from insurers. Insurers often pay much less than retail anyway when the doctor is in PPO. Buy only what you need and save: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Ms Bachmann becomes Swiss citizen—failed US history class but oversees CIA!?!

About 1,800 people renounced their American citizenship during the first half of this year, compared to about 1,000 for all of 2012, according to Internal Revenue Service data.

Can you believe they give up America for money?

An increasing number of Americans have decided the cost and hassle of hanging on to their citizenship is too taxing, according to federal data.

OK, but just don’t call the Marines or Consul when you get in trouble over there!!

And Bachmann is still overseeing the CIA, NSA, etc? AND getting farm subsidies from Switzerland?! And she sponsors the 40th ObamaCare repeal bill—insanity!

Three cans of sugar soda per day can be lethal, study finds

Sugar can kill you. Make sure you have the right life insurance to protect your family. Costs have come down so a $1 a day can buy $500,000 even for a 50 year old. Save $$17,970 with the right one! http://www.amazon.com/kindle-store/dp/B009MA9K78

Is market timing (TAA) right for you?

83 percent of financial planners had moved away from buy-and-hold strategies toward market timing in '08 -- what's often referred to as tactical asset allocation (TAA). There have been many studies on TAA funds, all showing the same results -- poor and inconsistent returns. A study that found that for the 12 years ending in 1997, while the S&P 500 on a total return basis rose 734 percent, the average equity fund returned just 589 percent, but the average return for 186 TAA funds was a mere 384 percent. That's about half the return of the S&P 500 Index. Advisors want to be rich not right. Invest the way Warren Buffett invests:http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

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

Banks holding commodities with our tax subsidies—And our bailout money

The largest U.S. banks are accused of causing problems in markets ranging from energy to aluminum. Regardless of whether they’re guilty of market-rigging, as critics say, the charges raise another question: Why are the banks in these businesses in the first place?

Banks are using cheap money to help themselves, not make loans to business. Anyone could make money this way—borrow at 0.001% and make 18%--and if a market collapses, bailout by taxpayers! How sweet.http://www.businessweek.com/articles/2013-08-01/bloomberg-view-the-wrong-business-for-big-banks

Have you received a letter about your medical situation?

Your personal health info is being sold by your State government for cash. Even though the law says doctors/hospitals can’t sell it, they give it to the state which sells it to the data-mining firms that do. Drug companies buy it so they can sell you or your doctor on their stuff. Data-miners get $10 billions and you get NOTHING. You might protect yourself by giving your providers your wrong ZIP. Hackers have a gold mine!

GOP to shut government but Obama cut Bush deficits by over HALF

Deficit was 10% of GDP in ’09. Obama has reduced it to 4%. Why do they still complain about spending with our bridges falling apart and 100 million people out of work or underemployed?

Who can look at your personal credit without your permission?

Folks you may not want to see can see your info because you have no control over what these companies can sell. http://www.bargaineering.com/articles/8-people-access-credit-report.html

Who owns your account now?

A Dick Tracey wrist phone, Galaxy Gear, will be out in a month. Finally, a smartphone I like!

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Retire with tax-FREE income: Avoid tax increases

How to Retire with Tax-FREE Income: Avoid tax increases to reduce the debt

Your total return in 2012 could have been 15.3%.

Unfortunately, you will eventually have to pay tax on those earnings if they are in your retirement accounts. They could be tax-FREE.

Isn't it time you started using the tax laws to your benefit? Why not pay your fair share? 

Warren Buffett pays only 17% total tax. Mitt Romney and John Kerry pay less than 15%.

I will show you how to set up your account in one hour: http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951/

Long-term care insurance premiums up for women

Genworth, the largest producer of long-term care policies, will start rolling out gender-based pricing next month for women who apply for coverage individually, and the company’s competitors are expected to follow suit. Genworth declined to specify the amount by which affected policies will rise; industry estimates put theincrease between 20% and 40%. Women live longer and thus have more claims than men. Industrywide, women represent 60% of long-term care insurance policyholders, and account for 70% to 80% of claims. Overall, premiums have risen between 30% and 50% over the past five years as the industry corrects for miscalculations that carriers made before the financial crisis. 

Women need to understand the alternatives before paying more: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Investment plans of academics do better than corporate plans

Retirement plans for academic faculties and staffs working at higher education institutions outperform the corporate sector due to lower costs, automatic enrollments, default contribution rates and plan changes in plan design, according to a new study.

Now you can use one of the best plans available for academics:  http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

ObamaCare subsidies to middle class without insurance--qualify

The majority of tax subsidies to help Americans pay for health insurance starting in January will go to working families, according to a nationwide study to be released Thursday and obtained by USA TODAY. About 25.7 million people who fall between 138% and 400% of the poverty level — or below $46,000 for a single adult and $94,000 for a family of four — will be eligible for funds that will go directly to an insurance plan that they choose. According to the Congressional Budget Office, those subsidies will cost about $350 billion from 2010 to 2019, but taxes and savings built into the law will offset them. For more information about the exchanges, visit http://www.healthcare.gov/.

Are prepaid debit cards for you?
Many credit-weary people are picking this type of money today because general aversion to credit, lack of credit available due to stringent lending standards and lower demand due to a decline in the number of credit-eligible borrowers. Other folks baulk at the new bank fees to maintain a relationship. 89 percent of the checking accounts offered at the 12 largest U.S. institutions involve bank fees. Some like the ease of use: buy and load at any big retailer. BEWARE FEES: Shop around. Fees vary. Some banks are setting a fixed monthly fee. Activation fees can be waived if done online. ATM fees can be $3. Check this survey to match your needs:http://www.bankrate.com/finance/banking/best-prepaid-debit-cards.aspx

Are low-initial deposit annuities for you?

Insurers are hyping fee-laden low-minimum annuities to induce younger people to start making payments early. Using cool names like Guaranteed Future Income, Income Elite, Choice Index 10, and Deferred Income, insurers are salivating over consumer fears of market turmoil and the flight to guarantees. However, annuities lock away your money for 20 years or longer. Tax-deferral can be gained in an IRA. Both require taxes to be paid when tax rates may be higher. Tax-FREE Roth IRAs can be a better alternative. Despite government support for funding annuities inside employer pensions, this can be costly. You are supporting the insurer, the mutual fund complex, the plan administrator and the employer bookkeeping. All these middlemen need to eat so you may pay more than you earn on your contributions during these low-interest periods.

There are better alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

NJ, NY homeowner rates up

Rates are going up. Policy language is getting stricter. Some insurers are pulling back from the coast. But they’re not leaving the Garden State. The most obvious change is the price of some private insurance. Insurance brokers say have seen some flood-prone properties get hit with double-digit percentage point rate hikes. But less obvious is the fact that insurers are also re-tooling their policies to limit exposures, earn more money for extra coverage and create greater clarity about what is and is not covered. Insurers are starting to define a storm surge as flooding, rather than a phenomena caused by a “named storm,” such as Sandy or Irene. This reduces their responsibility. Flood insurance may run $500-$2,000 depending on the area. 

Buy only what you need:  http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Women want more financial help but professionals “not responsive”

More than six in ten women (62%) said they have an interest in learning about financial planning, retirement planning and investing according to the 2013 Women, Money & Power Study* from Allianz Life, nearly double the amount (35%) who indicated interest in these topics during the original study conducted in 2006. However, despite innovations within the financial services industry, 70% of all women said they believe financial information is hard to understand, up significantly from the 44% who felt that way during the initial Women, Money & Power Study. Women are asking for clear and simple-to-understand financial information that is available on the Internet.

The vast majority of women surveyed noted they are more concerned about attaining a retirement lifestyle than gaining specific investment guidance. Members start here: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Is a reverse mortgage right for you?

First, you need to qualify. To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.

The amount you may borrower will depend on your age (youngest borrower), Current interest rate, Lesser of appraised value or the HECM FHA mortgage limit of $625,500 or the sales price; and Initial Mortgage Insurance Premium--your choices are HECM Standard or HECM SAVER. In addition, the more valuable your home is, the older you are, and the lower the interest rate, the more you can borrow.  If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow.  For an estimate of HECM cash benefits, select the online calculator from the HECM Home Page. Many online reverse mortgage calculators can provide you with an estimate of the amount of funds you can borrow.

Less expensive home equity loans are alternative.

Rich get richer; everyone else got poorer

During the first two years of the nation’s economic recovery, the average net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.

From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896. 

We need help to build wealth. Try: Your Investment Edge

http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Is your advisor trying to get rid of you?
Here are the signs:

When your advisor starts your financial review conversations by shifting the responsibility to the firm, he may say, “we’re not doing much for you” or “the cost of doing this is probably not appropriate for you.” He may try to transition you to some sort of platform outside—such as Schwab, Vanguard or Fidelity. Some advisors with long relationships find it difficult, so the ‘boss’ might take over the conversation. Remember, advisors are paid by commissions on sales or quarterly fees from your account. If your account is not producing at least $5,000 every year, you are not profitable. You will probably receive a nice follow-up letter after the conversation.

On the other hand, Vanguard may welcome you with a nice follow-up phone call. You can probably make good use of that $5,000! Advice from licensed advisors is free and you may just need confirmation of what you are already doing: http://www.amazon.com/101-Financial-Planners-Questions-Answers/dp/1469990563

Brokers stop Regulators from making it easy to find brokers’ records

FIRNRA withdrew a proposal that would have required brokers to post a link on their websites and social media to a database containing information about their disciplinary history. Finra proposed the rule as a way to increase investor usage of BrokerCheck. Finra spokeswoman Michelle Ong said the agency withdrew the rule due to feedback it received in 24 comment letters.

Investors will have to search on their own to check out bad brokers. Members avoid Wall Street and earn more: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

See if your advisor is robbing you blind

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/retirement-gamble/the-retirement-gamble-facing-us-all/

Great graduation gift idea

Get your graduate off to a great investment plan using our iTunes app:

https://itunes.apple.com/us/app/$2-million-retirement-system/id449360218?mt=8

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

Here we go again?

Citigroup, Goldman Sachs, and Morgan Stanley preach caution, even as their bankers return to pre-crisis deals.Recently, Citi has made big bucks pushing a type of bond deal that packages together risky loans and sells them off to investors as highly rated investments. In the first quarter of the year, the bank was the biggest underwriter of collateralized loan obligations. Citi is also back in subprime -- earlier this month, it was one of the lead bankers on a $1.1 billion bond deal backed by auto loans to borrowers with low credit scores. Wall Street firms have sold nearly $30 billion in CLOs this year, more than triple what they sold in the same period a year ago. These banks are still insured by us the taxpayers. More:http://finance.fortune.cnn.com/2013/04/24/banks-risky-deals/

FL considers canceling tax breaks for financial firms

The Florida Senate is advancing plans this spring to eliminate a pair of decades-old tax breaks for banks and insurance companies. One measure would repeal a tax deduction for international banking, which critics say has become a gaping loophole that does nothing to encourage investment in Florida and primarily benefits big, multistate banks such as Citigroup and Bank of America. The other gives insurers $30 million extra for car registrations. Who knew?

American terrorists buy all their bombs from same store—no license required!

Boston Marathon bomber Tamerlan Tsarnaev walked into a New Hampshire fireworks store two months before his deadly attack and asked for the “biggest and loudest” kit — then got another set for free, the Daily News has learned. The company that sold Tamerlan the fireworks is the same one that sold Times Squarebomber Faisal Shahzad the firecrackers he used to build his failed car bomb. Tam bought the “lock and load” kit of 24 shells of gunpowder. Buy one get one FREE. Wow!

Should doctors/hospitals charge victims over $20,000 to amputate leg?

Are bombing victims really getting hit with the full price? If you have ever had a procedure, you know the insurer is billed many $ thousands and pays about $ 500 because they have a contract with the provider. Luckily, MA requires insurers to cover almost all expenses so residents have help but only the “medically necessary.” Out of state residents are out of luck. Will they sue bombers? Their families? Bomb sale store?

Insurers don’t cover all artificial limbs. One victim "got a call from the insurance company and the person on the other end said, 'How long are you going to need the prosthetic hands?' http://news.yahoo.com/boston-victims-face-huge-bills-donations-pour-174957328.html

West TX blast victims are suing the fertilizer plant which is family owned.

TX gov wants to abolish all regulations in this country. Plants will explode and kill more people since this plant was just given violations but never complied. http://www.propublica.org/article/what-went-wrong-in-west-texas-and-where-were-the-regulators
 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

How will you make up the cuts in Social Security benefits?

How will you make up the cuts in Social Security benefits?

With Washington set on cutting our benefits in retirement, perhaps you should grow your own Tax-FREE Income supplement. You know taxes will go up and benefits will go down. Our representatives want us to pay for their previous mistakes—two wars, two tax cuts and two bank bailouts. “Only the little people pay taxes,” according to millionaire Helmsley. We need to grow our tax-FREE income NOW while we can:

http://www.amazon.com/Your-Retirement-Portfolio-Tax-FREE-Income/dp/1483994090

Obama gives in to GOP on our current SS benefits

Switching to the chained CPI, as recommended in Obama's budget, would close about 25% of Social Security's 75-year shortfall and would be a significant down payment on bringing that program into long-term balance. The existing CPI already under compensates Social Security beneficiaries because it does not fully reflecttheir out-of-pocket health care expenses, which tend to be higher than those of younger Americans. “To shift to the chained CPI would appear to under compensate them even further,” according to the NASI's fact sheet “Should Social Security's Cost-of-Living Adjustment Be Changed?” Although most proposed changes to Social Security benefits in inevitable reform discussions — such as increasing the normal retirement age — would affect future beneficiaries, a change in the way benefits are indexed to inflation would affect everyone — including current retirees.

What are chained CPI? A trick to pay fewer benefits. You can’t switch drugs like you can food so the example beef to chicken doesn’t apply: http://www.cnbc.com/id/100624098?__source=yahoo|headline|other|text|&par=yahoo

CR best autos under $20,000 and $25,000

Good, reliable, safe vehicles. Many models can be bought for under $25,000.  Each model is a good all-around choice that meets CR requirements for being recommended.

http://autos.yahoo.com/news/best-new-cars-for-under--25-000-211258414.html

Poor, unreliable, overpriced. Some cars lose over 60% of their value in 5 years:http://www.bankrate.com/finance/auto/car-depreciation-models-lose-value-6.aspx

LA tax plan to attract business from TX

Gov Jindal's proposal to eliminate the state income tax shifts to poor. His detailed plan would do away with all state personal and corporate income taxes. It also calls for a 56-percent increase in the state sales tax, a much higher cigarette tax, and the elimination of some tax loopholes to make up the $3 billion shortfall from scrapping the income taxes. To allay fears that the plan would hurt the poor, Jindal has proposed a rebate for low-income residents and some retirees. The governor says the change would attract business by makingLouisiana competitive with states such as oil-rich neighbor Texas, which has no income tax. You can avoid income taxes no matter where you live: http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702

Lawsuit Claims Bankers Life Denies Long Term Care Benefits

Law firm Williams Love O’Leary & Powers alleges Bankers Life and Casualty, a Chicago-based firm, is denying benefits to those who paid for long term health care insurance so they would have security in their old age. A class action lawsuit against the insurance company was filed today in U.S. District Court in Portland. “She paid their premiums for years, counting on having support if she became ill. That time came and all she got from Bankers Life was a cold shoulder, rejection and red tape. It was a total rip off.” “My mother trusted this company,” Grants Pass resident Dennis Fallow explained at a Portland news conference this morning. “She paid their premiums for years, counting on having support if she became ill. That time came and all she got from Bankers Life was a cold shoulder, rejection and red tape. It was a total rip off.” In 2011, Bankers Life ranked worst in the Oregon consumer complaint index. Consider the LTCi alternatives:http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

Problems with reverse mortgages

Some buyers took the cash but lost their homes too.

http://www.aarp.org/money/credit-loans-debt/info-04-2013/are-reverse-mortgages-helpful.html

Is life insurance for seniors right for you?

Approximately 40 percent of seniors have lapsed or surrendered their life insurance policies, according to a study cited in Conning Research. The number reflects a tragic, long-accepted truth in the life insurance industry. An overwhelming number of beneficiaries will never claim the death benefit. In fact, life insurance companies rely on the high probability that they will never pay out a customer’s policy; they reap most of their profit from lapsed, unclaimed policies. There are better alternatives: http://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

SEC requires brokers/advisors to protect our identities …. finally

The regulator approved rules requiring brokers and investment advisors to adopt identity-theft prevention programs.

Is your bank treating you poorly?

The new Consumer Protection Bureau is collecting data on banks to help us make better choices. Some banks are actually paying attention. Some have stopped charging fees. Read how bad your bank really is to its customers: http://www.consumerfinance.gov/complaintdatabase/

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

“Entitlements”—our Social Security and Medicare contributions—did not produce the deficits. Two tax cuts for the rich and the Chaney/Bush wars cost $3.7 Trillion and counting.

http://www.reuters.com/article/2011/06/29/us-usa-war-idUSTRE75S25320110629

Regulator becomes lobbyist—revolving door of government

Mary Schapiro, who led the Securities and Exchange Commission in the four years following the financial crisis, has landed at a Washington consulting firm. Now we know why she never went after big banks.

State Farm caught cheating on Katrina claims—finally, jury nails it

A federal jury has found State Farm committed fraud against the federal government and submitted a false record to support fraud after Hurricane Katrina in 2005. The verdict came after the eight-member jury deliberated for three hours Monday afternoon in a whistle-blower lawsuit, Rigsby vs. State Farm. The decision potentially opens for examination thousands of post-Katrina flood claims State Farm adjusted and paid before reimbursement by the National Flood Insurance Program.

Banks misused small business recovery money

A new report shows community banks used our tax money to pay back our money for bailouts -- instead of lending the money to small businesses as originally intended. The watchdog report released Tuesday found that $2.1 billion of the administration's $4 billion Small Business Lending Fund went to repaying bailouts. Many community banks were bailed out by the government in 2008 and 2009 under the Troubled Asset Relief Fund. The small business fund had failed to take off -- disbursing only $4 billion of the $30 billion it had originally carved out. The fund was established in 2011 to funnel cash to small firms, who were facing a borrowing crunch.

Who owns your account now?

MetLife’s Tower Square Securities and Walnut Street Securities to Cetera Financial
Old policies of MONY Life Insurance to Protective Life

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com