Senate reports how citizens commit "legalized tax fraud"

US Senate reports how citizens commit "legalized tax fraud”—sheltering profits in offshore tax havens. The report shows how more than half of the companies represented by the Business Roundtable are collectively holding more than $1 trillion in profits in offshore tax haven countries where money is not subject to U.S. taxes. A number of huge corporations – including General Electric, Boeing, Duke Energy and Verizon – not only have paid nothing in federal income tax in recent years, they received refunds from us.

Pay your fair share—Tax-FREE Retirement income: http://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Where is my refund?

Efile taxes and have refunds deposited to your bank account by the IRS and usually the Fed refund takes 2-3 weeks. If you filed before Feb 1, you should have your money by now. Check your account and then ask the IRS at “Where’s my refund” in browser or https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

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

The more you pay; the less you earn—common sense eludes savers

A new study looked at brokers/advisors who recommended a variety of funds. The researchers found that for every dollar in extra commissions paid to the brokers, they were likely to direct an extra $14 into the fund that paid them more.

 “They are influenced by how much they are paid, and larger payments can tilt a broker’s ‘advice’ towards poor-performing funds,” said Susan Christoffersen, one of the co-authors, who analyzed SEC filings from 1993 to 2009. Many studies raise questions about why most money in mutual funds is still invested in actively managed funds when they underperform index funds, particularly when they are sold by brokers/advisors.

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

Turbo Tax users targeted by hackers

Turbo is warning customers about fake emails. Refunds may be delayed if you are victim of tax refund fraud since hackers claim your refund before you can. Instead, efile with IRS-approved software and receive refund in 2-3 weeks. Many efile vendors charge $12.95 per state.

I was able to finish ours (required 23 forms) in 20 minutes on FreeTaxUSA and TaxHawk (LLC, Sch A, C, E, NY & NJ returns). Avoid big name-brand preparers.

GOP crazies

The House voted to make tax cuts permanent without offsets when key tax credit improvements benefiting 16 million working families with children are scheduled to expire. This helps the wealthy without completing the tax reform needed by everyone.  

GOP strategy for 2016: Many states don’t hide the fact they are excluding Dem voters so GOP can win. Rep Tursai (PA) said, “Voter ID, which is gonna allow Governor Romney to win the state of Pennsylvania, [is] done.” The tactics in your state are different.

GOP will receive $1B from Koch to win with Rubio.

Gov Bush denied dying woman’s husband’s legal rights. Bush’s religion used to stop Michael Schiavo from doing what every husband had right to do. Bush’s religion trumped individual rights—opposite what GOP says. Is Bush law like Sharia law?

Supreme Court has same religious followers! Religion trumps Constitution?

GOP favors “individual” FREEDOM until it conflicts with GOP religion

Alabama Law Lets Judges Appoint Lawyers for Fetuses. Alabama jurists have a long history of putting pregnant girls on trial. Court transcript: “And are you saying here today that notwithstanding everything that you want to interfere with God’s plan for your baby?

MINOR: I think that is between me and God.” The mother is now facing an appeal by the fetus’s Alabama-paid lawyer. Mother has to pay for her own lawyer.  

GOP king-maker Koch gets our tax dollars to rig elections

Koch Companies Have Received Almost $100 Million In Government Contracts

David and Charles Koch, owners of the oil conglomerate Koch Industries, are among the most influential players in the conservative movement.  The brothers have spent millions of dollars funding right-wing organizations, such as Americans for Prosperity and the Cato Institute that fund GOP elections. Koch refuses to tell the donors. Koch-affiliated companies have received nearly $100 million in government contracts since 2000.

We pay Koch to elect only GOP that vote for more contracts!

GOP quietly using ObamaCare

Republican-led states are placing pragmatism over politics when it comes to ObamaCare. Idaho is the latest state to launch its own public exchange and only one of a dozen players pursing this approach whose state government is controlled by the GOP. With roughly 76,000 Idahoans signing up for 2014 coverage through HealthCare.gov, Idaho is one of 12 states, along with Washington, D.C., to run its own public HIX.

Florida has tweaked its Obamacare alternative to better meet the needs of prospective enrollees. The Florida Health Choice finally decided to sell ACA-compliant policies from four health insurance carriers, though federal subsidies will only be made available to residents who sign up through HealthCare.gov. 

Arkansas new gov Hutchinson will continue the more than 200,000 low-income residents who have enrolled in the state’s so-called private option, which requires 75% support from the state legislature to continue each year. It passed by a narrow margin in 2014.

Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Dinosaurs were invented liberals?!

Insisting that dinosaurs are a 19th century invention and caused one child to become 'bestially-minded,' Christians Against Dinosaurs posts its displeasure on a popular parenting site.

Capitalism works!—pay workers $20 hourly AND $5 dividend to investors

Investors were pleasantly surprised—Costco paid a special dividend of $5 per share separate from its quarterly dividend of $0.36 per share. Costco will shell out $2.2 billion for the special dividend. Workers earn $20 an hour and have health insurance. CEO pays himself only $650,000 not $26,000,000 like others.

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

… Except when it doesn’t

RadioShack, which filed for bankruptcy recently, wants pay $3 million in bonuses to 8 executives and 30 other employees. They crashed the Shack and want a bonus?

We need Wyatt Earp again!

Michigan woman who fatally shot herself in eye was adjusting her bra holster.

NO safety?

Mom is shot after road rage incident.

What are we going to do?

Your broker/advisor has to be honest from now on

Brokers who recommend retirement-account investments would have to put their clients’ interests ahead of personal gain under rules expected to be endorsed by the Obama administration as soon as next week. At present, the brokers’ recommendations for 401(k) plans and other retirement accounts generally have to be “suitable,” a weaker standard that critics say permits high fees that eat into investors’ returns.

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.

“Five days or five months, but it certainly isn’t going to last longer.” Rumsfeld, Defense

American military is working to install a new air base in Iraq’s Kurdistan to be used in a campaign against Islamic State (ISIS), media report. This comes as the White House’s special envoy on ISIS speaks of a ground operation in Iraq against the militants.

We just can’t help ourselves. Where are the soldiers from Kuwait, Bahrain, Iraq, Oman, Qatar, Saudi Arabia and the United Arab Emirates?

US learns spy software is deep in hard drives

The U.S. National Security Agency has figured out how to hide spying software deep within hard drives made by Western Digital, Seagate, Toshiba and other top manufacturers, giving the agency the means to eavesdrop on the majority of the world's computers, according to cyber researchers and former operatives. That long-sought and closely guarded ability was part of a cluster of spying programs discovered by Kaspersky Lab, the Moscow-based security software maker that has exposed a series of Western cyberespionage operations.

Swiss after HSBC for tax violations-- Time to move your money? 

Swiss opening a criminal inquiry into allegations of aggravated money laundering. Europe's largest lender is in regulators' sights after details about how its Swiss private bank allegedly helped wealthy clients dodge.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Tax evaders go to PR now

Your broker/advisor now evades taxes in Puerto Rico—Socialism for the rich

Puerto Rico signed a law that creates a tax haven for U.S. citizens. If they live on the island for at least 183 days a year, they pay minimal or no taxes, and unlike Singapore or Bermuda, Americans don’t have to turn in their passports. Stock traders, moguls and entrepreneurs have moved. Billionaire John Paulson is spearheading the tax evasion. So the government gives them all the privileges of citizenship and we pay for their FREE ride.

Pay your fair share: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

What do the working millionaires know that your kids don’t?

The Picture Book of Wealth: How to save and invest in pictures and stories

http://www.amazon.com/Picture-Book-Wealth-pictures-stories/dp/150030025X

Harvard got taken by its advisors—how about you?

Harvard’s endowment posted annual average gains of just 1.7 percent vs 18.47% (market index fund) in the five years ended June 30, 2013. That compares with annual returns of 6.8 percent at Columbia University, 5.4 percent at University of Pennsylvania and 3.3 percent at Yale University. Advisors are paid even when they give bad advice. Harvard should follow Buffett’s advice—buy good value not advisors: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Will you have enough retirement income?

Use our calculator to illustrate if you will have enough retirement income by earning 8-10% on your contributions. How many years will it take to have enough to live on?

This calculator shows you how much retirement income your accumulation will provide after years of growth. It estimates your future buying power compared to your current one. It assumes you pay no taxes each year and your fees are low. It assumes your current income will rise with 3% inflation and then converts your nest egg into income stated in today's dollars. Your 30-year nest egg should last for 30 years or more:  http://www.amazon.com/Enough-Retirement-Income-Incarnate-living/dp/1500165107

Are Target-date funds for you?

For 5 years, target-date investors earned median annual returns of 15.3% vs. 14% for those managing on their own. The do-it-youselfers also had a wide range of outcomes, with the 25% earning median annual returns of less than 9%. These days more plans are providing guidance in the form of online tools and target date funds: 72% of 401(k) plans offer target-date funds, up from 57% in 2006, according to the Investment Company Institute. Unfortunately, nearly two-thirds of target-date fund users also had other funds and lowered their returns by 2.62%. Target date funds for 2035 and beyond have 90% stock now but reduce the ratio as you near retirement. Since Buffett advises compounding low-cost funds, this choice can be great: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Are alternative investments right for you?

Arguments over the importance of alternative investments in the average investor’s portfolio continue. Meanwhile, their results are not keeping up with more traditional portfolios, according to a new Morningstar study.  Emory University's professor Klaas Baks recently argued in favor of including alternatives in the Wall Street Journal. Advisor George Papadopoulos argued against alternatives. “Exotic assets may make a portfolio seem a lot sexier, but they may not get it to perform better over the long term. Factor in risks and expenses, and alternative investments just aren't worth the trouble,” Papadopoulos explained. The simple strategies work best: http://www.amazon.com/The-Wealth-Tao-Wu-Wei/dp/1499351348

GOP crazies

Nice guy Boehner says he is suing the President but not sure what for, exactly. I thought that was called “impeachment” in Washington. While we are at it, let’s add all of our so-called ‘representatives’ in the suit. They have done nothing while being paid. Isn’t that “breach of contract’ or something? Let’s ask Ms Palin and Mr Calvuto to be the prosecutors. It would be a new “Law and Order” series that would have better ratings than Survivors.  

GOP-led Supremes cut Obama recess appointments

Ronald Reagan made 232 recess appointments during his eight years in office. Bill Clinton and George W. Bush each made well more than 100. To date, Obama has made only 32 recess appointments. The recess appointments power was more pertinent when senators left town on "horseback," Justice Ruth Bader Ginsburg said, but the Supremes didn’t act in 1900 when Washington had cars.

Can we undue Reagan-Bush-Clinton appointments too? Only fair, right?

Supremes back Cheney’s Halliburton against shareholders—the corporate elites

Supreme Court limited shareholder class actions; stopping short of abolishing such cases altogether, in a case involving Halliburton which still pays Cheney. The Houston-based energy and engineering company, supported by business groups, asked the high court to overturn a 1988 precedent establishing “fraud on the market” that supported shareholder class actions. Cheney lied in 2003 about his  ties to his old company. Supreme’s Scalia is his hunting buddy and got him in with Bush in 2000. 

FL insurers raise rates for all to cover Wild West shootings

Florida Gov. Rick Scott signed a bill saying insurers cannot deny coverage or charge more because of gun or ammunition ownership in Florida. GOP bill interferes with the free market—force insurers to charge all for gun-related risks. Bill biased against women and minorities. The Florida Insurance Council, warned as the bill was being debated it could have unintended consequences. Ask for the no-guns, dogs, art, jewels, pool-discounts: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Supremes split on gun-buying deceit—Lying is OK according to 4 of 9.

Justice Scalia noted that it is permissible to buy guns as gifts, for later resale or as raffle prizes. The majority erred, he said, in interpreting the law to make it “a federal crime for one lawful gun owner to buy a gun for another lawful gun owner.” Roberts, Thomas and Alito joined Scalia in allowing buyers to lie on application about ownership and let them sell or give to others. Let buyers decide who is “lawful” owner—Really?

NJ business insurers lower rates

Horizon BCBS NJ new small employer plans slash premiums 15 percent and waive deductibles for network doctors. Horizon faces strong competition in the under-50 group market. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Two Americas--end of middle-income

Since 2000, jobs traditionally done by teenagers, such as retail and food service, are increasingly shifting to older workers. The number of people aged 20-24 working in retail has risen 24%, while the number of those in food service has shot up 57% during that time. Meanwhile, the number of teens working retail jobs has plunged 47%. And the shares of people 65 and over working in retail and food service are up 52% and 55%, respectively, over that period. Because jobs in areas like restaurants and retail are lower-paying, those who start their adult careers in such industries may be doomed to a lifetime of lower wages. And closing off opportunities to younger people while leaving older ones stuck in place stifles economic mobility. The promise of college has always constituted what Shierholz calls "an implicit contract." If job gains continue to be concentrated in low-paying, low-skilled areas, that contract may have to be rethought.

Your advisor doesn’t even know how much they charge you?

Nearly 63 percent of advisors surveyed underestimated their fees. The advisors believed their fees were below 1.5 percent of assets, while the actual average was about 1.83 percent. In addition, Cerulli says that 60 percent of clients do not understand how their financial advisor is charging them.

Your advisor can take up to 63% of your nest egg over time. Use Warren Buffett’s secret: http://www.amazon.com/Warren-Buffetts-Investment-Secret-Steeple/dp/1484189809

Did you already suspect?

Watching television isn't just slowly killing your brain cells, it may be slowly killing you. Researchers found that people who watched three or more hours of television a day were at twice the risk of an early death than those who watched less. The study found a correlation to television watching time but found no significant association with computer or driving time. "If you're driving or using a computer for working, you are stressed." The study took 8 years so it was too late to warn those who died from TV.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.

Are we preparing for WWII again? There are 1,208,083^[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

We just can’t afford to pay for everyone else’s defenses anymore.

Japan, Germany and S. Korea can pay for their own defense.

Your IRA money may now go to creditors—not beneficiary

Thanks to a recent decision by the U.S. Supreme Court, IRAs no longer have the same level of bankruptcy protection as some other retirement assets. In the case of Clark v. Rameker, the land's highest court said that “the term ‘retirement account’ is narrowly-defined,” explains attorney Edwin Morrow, wealth specialist with Key Private Bank. Translation: “retirement account” does not apply to assets you receive from someone else.

Obama set to allow crude exports—higher gas prices likely—switch to electric?

1975 law banning exports may be relaxed so big oil can sell at higher prices and refiners of gasoline will need to pay more on world oil markets.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Financial Death Insurance

Financial Death Insurance: Avoid death by a thousand cuts in pay 

#Debt is a knife that is killing us slowly. 

#Indenture to our bank kills the pleasures of life. 

#Break the chains and gain financial freedom.

     Let's admit it. Most of us are spendaholics. 70% of us live paycheck to paycheck. Most of us will NEVER pay off our loans. We will die by a thousand cuts to our paychecks.

How can we get free of the Master or the VISA?

      Freedom from our chains of lifelong payments requires immediate action: cutting credit cards and amputation of some of our costly toys and habits. Going cold turkey is the only way to save your life in rehab. 

      When you have financial freedom, you can buy new toys using the profits from your investments. You can be building wealth in 24 months.

Right now, you are making other people wealthy from your monthly payments. Stop it! 

http://www.amazon.com/Financial-Death-Insurance-Avoid-thousand/dp/1492803138

Need medical cover? https://www.healthcare.gov/

October 1, start your new year without fear of medical destruction. January 1 you can live knowing your family is covered for a catastrophic illness or accident. Your coverage is not capped, it can’t be cut if you get sick, you get free screenings, you don’t have to sit the emergency to get a flu shot and more. Here is the benefit list: http://www.hhs.gov/healthcare/facts/timeline/index.html

Your current employer insurance plan may NOT have the same benefits.

Plans existing before the new law in 2010 were grandfathered and don’t have to have ObamaCare benefits:http://obamacarefacts.com/grandfathered-plans.php

Estimate your least plan cost with subsidy: http://kff.org/interactive/subsidy-calculator/

ObamaCare myths: 

http://www.politifact.com/truth-o-meter/article/2013/sep/24/top-16-myths-about-health-care-law/

Best existing medical insurance plans CR reviews in your state: http://www.consumerreports.org/healthinsurance

Insurers are prepared for new business and competition—GOP wrong again

Based on the belief that most insurers were well-positioned and preparing for the expected impact of health care reform, A.M. Best Co. maintained its stable outlook for the majority of the health industry in January 2013. It appears that all the fuss over ObamaCare is just political BS. America’s insurers and drug firms are ready to serve more customers! GOP used to be in favor of everyone paying for healthcare: http://www.youtube.com/watch?v=rcSjLvWLcxE

MA has ObamaCare already thanks to GOP—what was learned?

Today, 97 percent of the state's 6.6 million people have it — the highest coverage rate of anywhere in America.http://www.npr.org/blogs/health/2013/10/01/227887992/lessons-for-the-obamacare-rollout-courtesy-of-massachusetts

Living without a mortgage?

A novel way to beat the high cost of living—tiny home, on wheels—not a double wide. Small but cozy—cuts down on clutter. Built it yourself $24,000 or buy for $57,000: http://www.tumbleweedhouses.com/

Should you make a homeowner’s claim?

In some states, making a single homeowner's insurance claim raises the annual premium cost over 20%, according to a newhttp://www.insurancequotes.com/home/home-insurance-claim report. The state with the highest increase is Minnesota (+21.2%), followed by Connecticut (+20.6%) and Maryland (+19.3%). Buy only what you need: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870/

Will debt reduce your sunny retirement years?

A much higher proportion of homeowners over 65 are carrying mortgage debt compared with past generations. The Consumer Financial Protection Bureau estimates that 30 percent of all homeowners 70 and older have mortgages to pay off. In 2001, just 8 percent of owners 75 or older carried mortgage debt, according to the Federal Reserve’s Survey of Consumer Finances, published in 2010. Working longer may be the answer if employment is still possible. About 7.2 million Americans 65 and older were employed last year, a 67 percent increase from a decade ago, according to government data. The median 401(k) balance for households headed by people aged 55 to 64 who had retirement accounts at work was $120,000 in 2011, according to the Center for Retirement Research at BostonCollege.  http://www.businessweek.com/articles/2013-09-26/former-executive-tom-palome-spends-his-retirement-flipping-burgers#r=nav-fs

Insurers misuse your credit?

State Farm has sent notices to nearly 700 customers whose accounts were handled by an after-hours call center employee who allegedly "misused" credit card information of at least 11 customers.

Is life insurance the best way to help your grandchild?

Many grandparents buy small $10,000 policies for their loved ones in the belief that this is the best gift for them. Consider what really happens. Most child policies are dropped. The hundreds of dollars spent are defaulted to the insurer FREE. Better to start a savings program for the child. Your gift to their Roth IRA can be worth $2.1 million by age 65. That is the miracle of compounding. And the child does not have to die to collect! http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105

Have you been to Chicago lately?

Stay off the streets. Chicago now has highest murder rate. More than in Capone days, more than the Wild West days. They even shoot kids now! 

We need Wyatt Earp to ban guns in town like they did back then: 

After a decision by the Supreme Court affirming the right of individuals to own guns, then-Chicago Mayor Richard Daley sarcastically said, "Then why don't we do away with the court system and go back to the Old West, you have a gun and I have a gun and we'll settle it in the streets?" This is a common refrain heard in the gun debate. Gun control advocates fear -- and gun rights proponents sometimes hope -- the Second Amendment will transform our cities into modern-day versions of Dodge.

Yet this is all based on a widely shared misunderstanding of the Wild West. Frontier towns -- places like Tombstone, Deadwood, and Dodge -- actually had the most restrictive gun control laws in the nation.

In fact, many of those same cities have far less burdensome gun control today than they did back in the 1800s.http://www.huffingtonpost.com/adam-winkler/did-the-wild-west-have-mo_b_956035.html

Towns banned guns for one reason back in the 1800s—guns kill people! People can't always control their emotions. 

Did you inherit an annuity?

IRS ruled that you can transfer the annuity you inherit to another insurer so you can receive more. Rather than being bound by the terms of the decedent’s contract, beneficiaries may be able to exchange inherited contracts for newer, higher paying contracts, according to PLR 201330016. Such an annuity might have lower costs, come from a stronger company, offer better investment options, or have desirable features. A PLR only applies to the taxpayer who made the request, but it also shows how the IRS regards a certain issue. Thus, an exchange for a higher-paying annuity may be a realistic option for beneficiaries. See your optionshttp://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Only poor people are hurt by GOP shutdown

Government employees but not Congress or aides, Women Infant Children, Veterans, Small Business loans, tourism and business that serve them, Head Start, SS disability hearings, cancer cure program testing, food safety, flu shots, etc. Congress and their staffs will get paid. Military and weapons makers will get paid. Anyone they decide is 'essential' is paid but the rest of workers are NOT essential.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/10/01/the-nine-most-painful-consequences-of-a-government-shutdown/

Millions of Poor Are Left Uncovered by Health Law—Two Americas?

If you and your neighbors elected a GOP government recently, you will likely NOT have health care available. Those that need it the most are denied the opportunity to buy coverage. America is NOT the land of opportunity GOP pretends. Only the rich can afford coverage in the 26 states ruled by GOP—60% of American working poor.

“How can somebody in poverty not be eligible for subsidies?” an unemployed health care worker in Virginia asked through tears. Before she lost her job and her house and had to move in with her brother in Virginia, she lived in Maryland, a state that is expanding Medicaid. “Would I go back there?” she asked. “It might involve me living in my car. I don’t know. I might consider it.” Will the poor have to move to get covered?

Two Americas: Banana Republic or Civil War?

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

Educated are more susceptible to scams than others

Recent survey found that more than 80 percent of respondents were approached with potentially fraudulent offers and that 40 percent of all respondents were unable to spot “classic red flags of fraud” — implicit warnings that they were in danger of being fleeced. The survey showed that the highest earners — those with household incomes of $100,000 or more — found the pitch more appealing than those with lower incomes. And those with more education were generally more credulous, too. The greater their education, the more likely they were to invest in potentially fraudulent schemes. They are overconfident and had the money. Scammers on work for people with money. http://www.nytimes.com/2013/09/29/your-money/the-bridges-are-new-but-business-scams-are-timeless.html?pagewanted=all

Tracking of Americans through friends’ network allowed

Government can now keep tabs on all your friends and networks without court order. You don’t even need to be in touch with foreigners. OKed by Supremes too:

http://www.nytimes.com/2013/09/29/us/nsa-examines-social-networks-of-us-citizens.html?pagewanted=all&_r=0

Allstate reneges on promises

Allstate retiree Garnet Turner is suing the insurer to protect the life insurance benefit he claims he was promised. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Is your variable annuity broken?

Is your variable annuity broken?

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

Customize Your Insurance  -Save $3,000 every year

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

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

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

Insurers against gun-toting teachers

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

Who really benefits from all these gun sales?

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

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

Big brother Data saves life (sentence)

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

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

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

Brokers are against “best advice” rule for customers

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

America becoming a “banana” republic?

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

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

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

ObamaCare health insurance exchange

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

http://coveroregon.com/

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

Buckets of Money advisor has his buckets revoked

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

AIG, GE, Prudential leveraging again a threat to us

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

Regulators allow disaster to strike small investors

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

What is wrong with American military-industrial complex?

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

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

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

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

IAN

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