GOP 'socialism': tax money to chosen few

GOP ‘socialism’

Example: Agribiz ‘will not be able to lose money’ with these subsidies. As Trump tries to scare Americans about left-wing DEMs, Congress passed the vast subsidies to large farm corporations. This is the agriculture’s bill. America’s version of socialism includes ‘crop insurance’ which provides premium subsidies to insurance companies and guaranteed prices for crops. Corporate farmers can’t lose. They can add ‘first cousins, nephews, and nieces of farmers to receive up to $125,000 in annual farm subsidies even if they are not farmers themselves.’ Corporate farms owned by those earning more than $1.8 million can funnel subsidies through other ‘pretend’ farm associates and relatives. Already wealthy agribusiness is paid to “buy up land in order to keep it dormant.” 54% of all cropland is rented so ‘landlords’ are subsidized, just like in cities. Land prices are inflated. Subsidies favor certain crops—corn gets 46%—and so the government makes certain corporations winners. According to one Rep: “Under what we have put in the bill, you will not be able to lose money, unless you really try.” Research firms are subsidized—‘stones are commodities’? Most small farmers actually receive NO subsidy. 40% of subsidies go to top 4-7% farm conglomerates, just like in Russia. Subsidies go to the more ‘equal’!

All 87 Senators voted FOR American Socialism for the Rich. Some Reps get subsidies!

It’s GOP socialism: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

Where can you earn 9-13%?

Don’t forget to add in your dividends. Ask your broker and advisor to calculate your returns the last 10 or 12 years (including the ‘Fed bailout of 2007-8). It is your money, not theirs. Most smart money managers have most of their money in a low-cost market fund because COSTS KILL returns. Compare facts to the myth of Wall Street ‘managed’ funds: Facts: Jan 1, 2006 to Dec 31, 2018 = 9.3%; 2007-2018 = 8.76%; 2008-2018 = 9.06%; 2009-2018 = 13.96% a year. Ask your advisor to show you ALL the costs and your actual NET earnings after tax each year:
Sales Loads (including Sales Charge (Load) on Purchases and Deferred Sales Charge (Load))

Redemption Fee

Exchange Fee

Account Fee

Purchase Fee (Although the fee table in Form N-1A does not specifically include "purchase fees," if a fund imposes one, it would be included in the fee table under this heading.

In the fee table, under the heading of "Annual Fund Operating Expenses," you will find:

Management Fees

Distribution [and/or Service] (12b-1) Fees

Other Expenses

Total Annual Fund Operating Expenses

Now explain again why John Bogle’s index fund is not the wise choice for most investors. And why Warren Buffett is right about hedge funds.

https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X

Is your Advisor/Broker really ‘Acting in your best interest’?

Advisors/Brokers mislead Americans about ‘acting in our best interest.’ Two years ago, 46% of investors incorrectly believed that their financial advisor would only make recommendations in their best interest. In 2019, that statistic has risen to 65%. Most of us don’t trust salespeople whether selling used cars or financials. However, when asked about their own experience, they have become a victim of a salesperson’s strategy. Presumably once we make a commitment by giving them money, we defend our decision. No one wants to admit they made a mistake. Yet the number of frauds and ‘death by a thousand cuts’ goes higher. A salesperson is under tremendous pressure now because there are many alternatives to reach financial goals at less cost with unbiased advice. Brokers hide the total costs because they can take over 63% of your total accumulations. Only RIAs are legally required to act in our best interest. Brokers have little accountability. Trump killed the Obama Fiduciary Rule for all firms and sellers.

Don’t surrender your common sense: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023

Is home ownership worth it?

In today’s market, you need to ask hard questions and do your homework. Can you afford the price, ongoing costs, and responsibilities? There is really only one good reason to buy: you are able to put down roots in one place for the foreseeable future. We used to live in Manhattan—on E 7^th Street. We loved it and the rent was reasonable because the area had not yet gone ‘developed.’ We walked to work and rented a car to go out of town. However, when we had a child, we realized we could not afford to raise a child there—financially. Plus after living our adult lives in a small pre-war apartment we were tired of the lack of space, grass, air, quiet, and other unmentionables. So we did what previous generations did—we saved like mad. No more vacations, wasted impulse buys, etc. We did not stop investing in our retirement funds. We did research on where and how to live. We settled on downtown Jersey City. We could get to work on trains. We could buy a beat up 1860 brownstone and rent 3 floors—using the rent to pay the mortgage. We had to take care of tenant problems but we saw no other way. We underestimated repairs and maintenance. We spent most weekends fixing things. We had to move for better schools.

Ask for homeowners’ discounts: https://www.amazon.com/Homeowners-Insurance-Beware-False-Coverage-Policy/dp/1480100870/

Why is successful investing so hard yet so easy?

Warren Buffett gives his comments in an interview recently. Most of us are not up to analyzing or understanding everything he says but there are few takeaways that seem clear: Follow the big picture. We, including our brokers, are not equipped to judge individual companies. His advice: invest in America—S&P 500 gains have meant if you invested $1 in it over the last 77 years, it is now worth $5,000. You do nothing else. It is hard to pick the right stocks all the time. It is hard to believe that when the 500 largest stocks in America (S&P 500) go down they will go up. However, he keeps saying we must. He believes it so much he put in his Will: put 90% of my estate in an S&P 500 index fund and 10% in governments. He has invested during every period from Hoover on. He never owns more than 10% of a stock. Buffett has the money to invest in many companies. We are like Billy Beane—limited budget so we take Buffett’s advice and use the Warren stats: $1 became $5,000 over time in a low-cost S&P 500 index fund.

Remember Billy Beane: https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

Can I pay my Federal tax bill over time?

Sure. Many have found that Trump gave everyone else a break except them. Now you and I have to pay for the corporate and wealthy tax cut. If you got caught with the property tax cap of $10,000 and other changes, you may owe. Those who got a refund last year may owe $4,000 or more. After all the average home in northern NJ is taxed at about $20,000. Many have had their traditional deductions cancelled. Your closing costs even for a reverse mortgage may be deducted. However, many other fees are not. Save on filing fees at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. If you owe, file by April 15 and pay what you can. Tell the IRS that you need a couple of months by filing online: https://www.irs.gov/payments/online-payment-agreement-application. Longer payment plan requires charges.

Use Trump’s tax shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Is Long-term Care coverage right for you?

GE Genworth is raising the price of long-term care coverage. Sales were continuing to slow so GE is halting individual sales through brokers and going with Telesales only.  Few insurers remain in the market for traditional LTC insurance: GE Genworth, Massachusetts Mutual, Mutual of Omaha, New York Life and Northwestern Mutual.

The largest long-term-care insurers have stopped writing new business entirely, including Continental Casualty, John Hancock, MetLife and Unum Group. Some carriers sell hybrid policies—life insurance and LTC coverage together. These appeal to more buyers since their heirs receive a death benefit if the LTC coverage is not needed. More buyers have found some coverage through their employers’ group plans. LTC policies have many working parts so it is difficult to compare price and benefits.

Know all alternatives: https://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

  

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Make America, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions? quetiapine and clozapine

Truth isn’t truth, his lawyer says

“The campaign -- for him -- was always a marketing opportunity.”

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 

Trump told to give all 47,083 children back to parents

Taxpayers give $4.5 welfare to create profit for Hudson developers: Socialism?

Trump Wall costs $25 million per mile!: $18 billion total, TX lose their land!

No WALL: Smart Port of NY seized largest drug shipment in Newark NOT TX!

Trump’s America: Tax money for war—less for human needs, no infrastructure.

GOP sells its soul to the devil: Reps turn back on American people!

SCAMS/SPINS:

DEMs could fix infrastructure (schools, bridges, roads) with GOP: spend wisely.

Trump prison guards defy Congress on abusing kids they hold in camps on border.

Trump Mob illegally stopped school equality program to end unequal special ed.

High tax states have inflows not outflows--people flock together: Avoid taxes legally

irs.gov/newsroom/irs-wraps-up-Dirty-Dozen-list-of-Tax-Scams-for-2018-vigilant

Jeb Bush caught accepting foreign money too. Does anyone follow the rules anymore?

Wealthy have always bought their way into ‘better’ colleges: Trump, Bush, etc, etc

79 brokerage firms caught overcharging us for mutual funds: no fines, no jail

BEWARE: When money managers pay us to buy their products—Look out later.

Avoid-Scams-of-Brokers-Advisors-Sender/dp/1726328023

Hedge funds lose faith in quant strategies: Losses kill the trends

AZ boosts ‘junk’ health insurance: low price=low coverage for 3 years then what?

"Money Doctor" Dallas caught stealing $20 M from seniors: risk-free return ponzi. Nojail

Richard Cody, FL caught lying to clients about loss of nest eggs. Jail 2 years.

John G Schmidt, OH, caught stealing $1.3 M from elderly. Defrocked.

Fiat Chrysler recalls nearly 865,000 for pollution: owners paid for lower resale.

‘Lumber’ Liquidator’ caught lying formaldehyde-laced laminate floors: fine, no jail time.

OppLoan funds cost 99%: $4,000 loan 36 months costs $12,600. Find alternatives

Timary Delorme, Wedbush, caught ‘pump & dump’ penny stock fraud: defrocked, no jail

Embezzlement insurance: your broker has to be in handcuffs to get paid. Most pay fine.

Many colleges caught overcharging their own employees $ millions—no jail time.

Trump declares himself winner of golf tournament he never even played in! Sick Sick Sick

Trump thinks “Airplanes are … too complex to fly”: Make America FEAR Again?

Software-driven cars may kill more people than Boeing. Programmers not omniscient.

Boeing caught hiding software problems from pilots: Killed 346—“no need to know.”

GA bill to control men’s sex acts matches pro-life control of women’s

OH judges OK cuts in planned parenthood funds to control women’s sex acts.

President of all Americans wants to put Bible study into public schools—‘turn back’ time

Don: Hunchback of Notre Dame helps explain why immigrants are necessary to society.

Ivanka makes excuses for Daddy; husband trying to act with authority plays King fool.

“Individual 1” could be a Russian “asset”: Why FBI opened a file on The Mob Boss.

The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.

‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Supremes protect Don’s ‘Orders’? – GOP: ‘Sure, pres can change Constitution anytime.’

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Jobs:

More employers offer college savings plans: matching & payroll deduction.

Help neighbors, earn money: https://askumbrella.com/

Jobs never returned since Trump gave corporations our tax money

Who owns your account now?

News, straight from Associated Press wire service: https://apnews.com/

Don’t need credit card in Philly—law requires all stores take cash

Your ’15, ’16, ’17 tax refund awaits: $1.8B-- irs.gov/individuals/get-transcript

Miracle:

Cure from sickle cell anemia: stem cells were genetically modified to correct a DNA flaw

Indian Tribe donates all the funeral charges for 23 tornado victims of Lee Co, AL.

Parents of unvaccinated child make him suffer for months from tetanus: he recovers!

We care about inequality: 1/3 of $ Billions on GoFundMe are for medical necessities

Yet one group wastes $61 Billions tax money on stuff we don’t really need.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Tax-FREE retirement is winning 'lottery'

Tax-FREE Roth 401k or Roth IRA?

If you are lucky enough to have the Roth 401k offered by your employer, you must understand the pros and cons of both Roth accounts. In both, you never pay tax on your retirement accumulations. So if you can aggressively fund your Roth 401k, you could easily reach $1 million tax free because your $100,000 total contributions over time can COMPOUND at 10% by age 67. If you can invest just $9 a day, $250 a month, you can still have $1 million tax free at age 67, you just have to start earlier. If you can’t do a Roth IRA because of limits, try a ‘back-door’ Roth. COMPOUNDING at the long-term stock market rate of 10% means your money doubles every 8-10 years. Look at the https://www.bankrate.com/calculators/retirement/roi-calculator.aspx. Most of your tax-free balance will be accumulated capital, not contributions: FREE MONEY.

Pay tax now or much more tax later: https://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938

Winning the $1 million ‘lottery’

$1 million tax free. You can spend it all—no taxes. Usually you must pay HALF your winnings to fed and state gov. $1 million can provide over $100,000 per year for life. Everyone who plays this ‘lottery’ will win. This $1 million lottery is not awarded every week. You must wait. Each week you buy $9 worth of ‘chances.’ You don’t win every week or month but you WILL win eventually. This lottery is a sure thing eventually because you actually are buying a piece of the profits of many successful companies. Some companies make a profit every year and some make a huge profit some years. Over time the ‘chances’ you buy get more valuable. Think about all those tickets of your past losses in the drawer. They are worthless because you did not win and every week you will lose—almost guaranteed. Thank god, you have a better chance of being hit by ‘lightning’ than winning any week. This lottery is not a lottery but a sure way to own $ million worth of all the companies you buy things from—groceries, electronics, toilet paper, electricity, cars, everything. You own Apple, Google, Microsoft, J&J, Facebook, Exxon, Morgan Chase,  Disney, and more. The value of your ‘chances’ go up and the profits the companies pay buy more ‘chances’. Buy from the largest ‘chance’ seller.

Buy the lottery that you WIN: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Are songs royalty streams right for you?
For those who have a crystal ball, buying the right to receive music royalties might be the alternative investment you have been looking for. Winning bidders typically get royalty payments on a quarterly basis, with a rate of return Royalty Exchange says is often in the double digits. The longevity of the royalty rights varies. Some royalty rights are limited to 10 years, while some offers include copyright ownership, which means the payments can last for decades. Some investors think royalties can never end. Royalty Exchange, the middleperson, launches three to five new auctions every week. Songwriters have a tax incentive for selling. Under the law, the money songwriters make from selling all or parts of their catalogs is treated as capital gains, taxed at 0, 15, or 20%. Royalty revenues, meanwhile, are treated as ordinary income, taxed as high as 39.6%. "There are people whose only real assets are their royalties," he said. "Their financial security is based around how they leverage those things."

There are better ways to receive income: https://www.amazon.com/Your-Retirement-Portfolio-Tax-FREE-Income/dp/1483994090

Does your broker/advisor live in these states?

Connecticut, Nevada, New Jersey, New York, and other states have passed laws or proposed regulations that mirror some of the federal rule's requirements to treat you with respect. Even though Trump cancelled the Fiduciary Rule—you receive advice/product that is BEST for you not for the institution—these states have or will protect you from outrageous commissions and fees, inappropriate products, and misleading information. Obama said without this law, you and I could give up thousands of dollars when we moved our retirement money (401k, 403b, IRA, pensions). My industry (financial:  http://dankeppel.blogspot.com/) can’t make $millions and $millions by giving you advise without putting our own high-cost products in front of you. In fact, most advisors and their firms don’t even carry the best products for you because they must make money to survive. Everything has changed in the last decade: discount brokerage, discount mutual funds, discount insurance, etc. My friends and I have left the old industry model.

Time you started saving:  https://www.amazon.com/Tricks-Trade-Mutual-Insurance-Annuities/dp/1535497289

Vital steps to buy a house

Don’t even look for a house before you understand the process. No use frustrating your family if it can’t happen now. Offerings and loan rates change daily. First, check your credit scores at www.myfico.com and errors at www.annualcreditreport.com. Check rates on trial amounts at your bank and then shop around at www.bankrate.com and https://www.quickenloans.com. I used them—very fast and efficient. Big banks have 10 plus people handling your loan and it takes 3 times longer. Second, find out ‘how much can you borrow?’ The final answer depends on your income and the lender, but usually it is monthly costs (mortgage, insurance, and property taxes) can’t exceed 28% of your gross monthly income. Fannie Mae increased its maximum DTI ratio to 50 percent, up from 45 percent, in July 2017. Third, the standard down payment is 20% but you may find exceptions: Federal Housing Administration or the Veteran’s Administration. Fourth, your lender may want you to pay down debt or temporarily reduce spending. If your family helps with the down payment, let it ‘age’ in your account for a few months. Now you know what houses you can afford and can ‘lock in’ a rate/terms. I used www.realtor.com and found a 2 family to help me pay for the mortgage. Timing is everything. Get your loan approved BEFORE you shop so you can pounce.

Save on insurance too: https://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Is tax lien investing right for you?

Risk you must understand for this kind of game of chance. When a property owner fails to pay property taxes, the municipality in which the property is located can sell its tax lien — the right to foreclose on a property when the owner has failed to pay taxes. So you can force payment plus costs plus profit by threatening to take your neighbor’s house away and sell it. Most tax liens purchased at auction are sold at rates between 3% and 7%. If the owner does not pay you, you get to foreclose which can cost over $10,000. “It’s complicated. You have to understand the details,” according to an observer. Each state is different, so buying and collecting on a lien is how amateurs fail. Compare alternative assets like owning diversified real estate funds: REITs.

Mandate to have health insurance still exists

If you have been without insurance this year because you heard Trump cancelled the mandate, surprise—the mandate penalty is subtracted from your refund unless you qualify for various exceptions. So if you are not owed a refund for 2018, there will never be any consequences for not paying the penalty tax. Trump won’t collect it now. Trump has dismissed comprehensive coverage in his special ‘short-term’ policies. He has made buying coverage without protections easier so that he can claim his plans are “cheaper and better.” Trump does not understand—he has always had it. It is not magic—his plans do NOT cover pre-existing conditions and have payout limits. You may be denied or cancelled. You may have premium increases. Most Americans like ACA now that they have it. If you are lucky, you live in a state that maintains the guarantees of ACA. Before ACA you could buy cheap policies—they were junk and didn’t cover you when you needed it. You can’t buy insurance after you get sick or have an accident. Like car and home insurance, it is a way to share the risk of a huge loss. You pay premiums all your life for a catastrophe you hope won’t happen. The alternative is bankruptcy or destitution.

You need full coverage: Trump has it, why not us?: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Consumer Reports: Most reliable vehicles

Your vehicle ratings by brand are not unusual but look closer at all brands for the type—SUVs popular still (even Porsche has one??). Some specific models were dropped from the CR list altogether. Biggest ranking drop: Honda, Chrysler, Volvo, and Tesla. Volvo is now Greely (Chinese), Chrysler is now Fiat and Tesla is still working out the kinks. Vehicles are now mobile entertainment units not transportation. If you need quality reliable transportation not TV screen gadgets, go for a 3 year old thoroughbred like 2016 Lexus or Toyota from $12,500 to $30,000.

Save with coverage discounts too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

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Make America, “The Don”, Great Again

Senile Psychosis

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

Trump breaks 1987 Reagan arms treaty to spend more on weapons of mass destruction.

GOP promises 2^nd tax break as teaser for midterm election of more spendthrift GOP.

Air Force buys $1,280 coffee cups that shatter automatically.

TX GOP closes voting sites-long lines and DEMs must take off work. Our voting rights?

SCAMS/SPINS:

Chris R. Kubiakk, WI  stole $270,000 from clients’ accounts for personal use.

John G Schmidt OH caught stealing $1.6 million retirement funds from boomers.

Cash Express caught threatening loan collection it can’t make against consumers.

Christopher Faulkner, Breitling, stole $23.8 million promising oil/gas profits.

23andMe’s health reports are dangerously incomplete, geneticist says.

Cancer care marketing misleading—big biz budgets add spin for profits.

Why drug prices keep going up—It costs $200 million to stop Congress from acting.

Trump to close all borders, ports, tourism, trade—any non-white immigrants.

Trump teases his voters with another tax cut but GOP says no way. Con man fake news.

Trump to pardon Charlottesville Nazis?? Neo-Nazi caught trying to flee from law

GA to suppress votes of 1 million ‘non-matching’ voters: aims to erase non-whites.

Manafort, Trump’s tax evader-manager, suddenly in wheelchair before sentencing.

Saudis kill 100s every day in Yemen—Khashoggi is just a ‘fist fight’—hospital record?

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The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.

‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Young lady explains what Trump means: “scary time for men.” Respect, not rape, Don.

Supremes protect Don’s mob -- Ross’s legal deposition canceled.

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Jobs:

Economy is booming but 60% of us aren’t getting the benefits: Why can’t I make it?

Income inequality factor in communities with mass killings; gun laws reduce all crime overall.

Who owns your account now?

Americans seem to like ObamaCare—don’t use his name. GOP still repealing 55 times.

Trump defines gender from now on: you lose free choice—no 2^nd Amendment for that.

DIY repair outlawed by GM, Deere, others: we buy it but they own circuits/algorithms.

You can’t uninstall—they own algorithms: track you after ‘uninstall’ Can’t cancel Uber.

Save $ HALF: Compare drug prices in your area: https://www.goodrx.com

Miracle:

Cancer patient gets his last pizza from …225 miles away.

Do we really want to keep immigrants out of US? We need new ‘blood’ to survive!

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Are these tax avoidance strategies right for you?

Are these tax avoidance strategies right for you?

Check these year-end tricks to see if you can save this year. You may be able to divest a large, low-basis holding. You may be able to cut the AMT. There are several layers to the tax in US, so you need to see your accountant/planner/advisor to get started avoiding taxes. Your Congress person can probably help with a little non-quid-pro-quo giving. They write (with lobbyist’s help) the tax code. The Supremes have made it almost impossible to ‘bribe’ your representative, so go for it. In fact, your profitable corporation can just rent a post office box in the Caymans and lower its taxes to 0% like  Boeing, General Electric, and Verizon, and 24 others.

For the middle-class there is this tax haven: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

How can you avoid income tax in retirement?

Stop adding money to your employer retirement plan! You have been converting the low rates that the rich pay on capital gains (15%) into income taxes that hit 25-35%. Switch to a low-cost Roth IRA and pay nothing on that money in retirement. If your retirement income is not subject to income tax then you are more likely to pay $0 on your Social Security benefits. Contrary to popular myth, benefits are taxable if you have other income. You may be able to avoid paying income tax later by converting your taxable IRA to a Roth now in years when you have lower income.

Other tax-avoidance strategies require more work: borrow from your assets without repayment, use your legal entities to borrow cash, offset taxes with tax losses, cash value life insurance, etc.

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

Is a Roth IRA conversion right for you?
Conversions of deductible 401k or rollover IRA to a Roth IRA have increased 800% recently. Why? Each $1 you already put into those accounts could grow to $46 by retirement and if they were in a Roth, you would have 25-30% MORE because the $46 is all tax-FREE. Yes, you have to pay tax on the $1 plus earnings now, but those with higher incomes see the enormous benefits and are going for it.

Create the tax-FREE income you want:  http://www.amazon.com/Lets-Do-Numbers-Creating-Retirement/dp/1502775522

What is the best way to transfer your pension when your job is over?

If you are leaving your employer for another or for self-employment, there are important benefits to consider. Your advisor/broker may not know them all or may be receive a bonus for one way. Taxes are involved too. SEC regulators are concerned about advisors’ sales practices. Mistakes can cost you. Look before you leap. Know the best for YOU. http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/RetirementAccounts/P436001

Youth consult family and friends for financial advice

Members of Gen Y, those born between about 1980 and 2000, are more likely to rely on personal connections for their financial advice than older generations, according to a new TIAA-CREF survey. They are more likely to value online tools and calculators (74 percent versus 57 present of the general population), seminars (68 percent versus 53 percent) or webinars (67 percent versus 54 percent) as channels for advice. They are more likely than the general population to involve their parents (47 percent versus 19 percent), extended family (22 percent versus 14 percent) and other trusted adults (31 percent versus 21 percent) in their search for advice. 

They use Leah’s Money Book: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408

Social Security benefits up by 1.7%

Make sure your account benefit calculation is correct by checking online. If you don’t have an account yet, create a personalized Social Security accounts online at socialsecurity.gov/myaccount. You can see your benefit information at any time. Make sure you will have enough income when SS benefits are reduced in 2033. Create your own tax-FREE income security: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

I just saved $840 on my car insurance—made $840 an hour

When I got my auto renewal policy bill today, they had raised my cost about $400. Last year they raised it by about $300. I decided to shop for a new deal. It took me 1 hour to save $840 after entering my info at two competitor’s online sites. One wanted $2,949 for a year. WOW. Another insurer told me to wait 5 minutes for a phone rep. I hung up. My vehicles are old—’98 and ’05, but I still carry collision and comprehensive. I don’t carry their PIP medical since I have a good health policy and it pays first anyway. I declined rental and towing and life insurance and disability just like before. I charged it on my card and downloaded my policy and proof of insurance. The new carrier is A++ and 2^nd largest in US. In one hour I added $840 to my Wealth Reserve. http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Do you really need an advisor or broker to help with your financials?

As a former manager of advisors and brokers at banks and security firms, I see a change in the way you can obtain help. First, determine how your salesperson gets paid. This helps you understand how they can help you. All licensed staff work for firms that only offer products that provide them with revenue. You are offered what the firm sells NOT what you might need. Vanguard and TIAA-CREF operate differently. Their products don’t pay commissions, so most firms don’t sell their products, but you can.  

In the last 30 years, products like low-cost mutual funds, discount brokerage and useable information have become available to everyone. Personal service can be obtained just for the asking. For instance, Vanguard provides free or low-cost advice, brokerage and trustee services even for small account customers.

Advisors that charge you by the hour may have lower-priced products. Your employer’s pension plan is more likely to offer lower cost products too. Costs are spread over your group so you pay less.

Also, you can now learn enough on your own to succeed by paying less: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082

How much would a US election cost you?

If you could buy an election (thanks to Supreme Court), how much would it cost you? In the previous midterms, in 2010, the top 0.26% of donors gave 68% of all individual political contributions, according to the nonpartisan Center for Responsive Politics. Much of that went to GOP candidates. Tom Steyer, hedge fund croupier, spent $20 millions so far. Bloomberg spent $11 mil and Uline owner, $5 mil.

These billionaires are NOT counting on alleged “voters with fake IDs” either.

GOP crazies backed by Supremes agree to suppress vote

If you can’t win with centrist policies, keep 600,000 Dems from voting. Supremes 5 old guys sided with voter suppression in TX. The law sets out seven forms of approved ID — a list that includes concealed handgun licenses ($150 credit card only) but not college picture ID, which are accepted in other states with similar measures. Dissenters called this decision "unconstitutional burden on the right to vote" and the equivalent of a poll tax in finding that the Republican-led Texas Legislature purposely discriminated against minority voters in Texas. TX has never found case of voter fraud.

Stephen F. Austin, Founder of Texas, would not been allowed to vote in TX under this law. Voter fraud to change outcome does NOT happen in US study finds.

DEM crazies

Cut budget by 7.6 Billion a year—jobs from greater demand—lower income inequality

Raise the minimum wage to the same level as in Reagan’s time—$10.10 per hour and take people off food stamps. That is the proposal DEMs are making now and confirmed by the CBO—nonpartisan Congress analyst. Can Congress vote on anything?

At Costco, hourly workers make an average of more than $20 an hour — well above the national average of $11.39 for a retail sales worker — according to a 2013 Businessweek story. For employees who put in 40 hours per week, that works out to about $43,000 a year. In addition, Businessweek reports that 88% of Costco's 185,000 employees have company-sponsored health care.

Why doesn’t GOP see the facts—good pay equals more money to buy equals more profit

Our hard-earned wages going to waste

Congress spent $25 billions of our taxes on stupid projects while running up the deficit. According to the GAO, during a three-year period more than 57,000 employees were placed on leave for 30 days or more, costing taxpayers $775 million in salary alone. Pentagon to destroy $16 billion in ammunition that it deems no longer useful at of cost of $1 billion just to destroy the ammo. Both Dems and GOP guilty of this despicable behavior. You won’t believe the things they wasted our money on. Wastebook 2014

But they won’t fix our bridges and roads because Obama proposed it.

Pope tries to move older churchmen

Francis warned bishops against what he called "hostile rigidity" in their thinking on these topics, his remarks earning a five-minute standing ovation. Catholic bishops rejected a landmark change Saturday in the rigid stance on gays and divorcees, revealing enormous gaps within the church at the end of a two-week meeting. The synod's final statement failed to include remarkably conciliatory language revealed a week ago that would have welcomed the "gifts and qualities" of gay Catholics and called on pastors to "avoid any language or behavior" that could discriminate against divorced Catholics.

Change is coming, Mr Scalia.

How much can you invest in your pension?
IRS announced (IR-2014-99) that you can now sock away $18,000 in 2015, up from 17,500 in your 401(k), 403(b), and most 457 plans. Employees over age 50 can add another $6,000. IRA limits remain at $5,500. The deduction is phased out if the couple’s income is between $183,000 and $193,000. The income limit for the saver’s tax credit ($1-2,000) is $61,000 for married couples filing jointly. Tax credit means you could reduce your taxes by $2,000 dollar for dollar.

Use the legal IRS tax haven: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

What does it cost to file a homeowner’s claim?

Insurers do not want to pay claims. If you file a small claim, not only do you have to pay the deductible first, you may get a big new premium bill next year. According to one study, your state may allow an increase of 30% or no increase at all. Premiums in 37 states increased by an average of 10 percent after filing a single claim. "There's a significant statistical correlation between making a claim and the likelihood of making an additional claim in the future,” insurers say. They need to offset the increased risk. Texas prohibits insurers from increasing premiums for first-time claims. But according to Amy Bach, executive director of the California-based nonprofit consumer advocacy group United Policyholders, this rationale doesn't hold water. "(There's a general feeling that) it's completely unfair that an insurance company is free to raise your rates because you had the gall to actually use your insurance," Bach says.

Make the claim decision the right way: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Is keyless entry (phone) to your home right for you?
Does it make sense to you that people would want an electronic gadget guarding their home? Yet you can try it for $250 and the price of the phone. One device tested did not work. The testers did not ask the local burglar to give it a try so you don’t know if hackers could take your home like they do your ID, bank or computer.

Please give me a break from the gadgets.

Airbags that might KILL you? http://www.mercurynews.com/business/ci_26778551/is-your-car-affected-by-air-bag-recall

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

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

Are we preparing for WWII again? There are 1,208,083^[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.

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

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

What business marketing has done to the language—“anonymous” doesn’t mean anonymous now!

The Guardian revealed that Whisper, an app that promises to “anonymously share your thoughts and secrets”, is tracking its users including some who have asked not to be followed and storing their posts indefinitely while it trawls their messages to identify interesting stories to promote itself in the media.

“That’s exactly the kind of deceptive practice that the FTC should crack down on,” said Marc Rotenberg “It’s very important but there has to be more transparency and accountability. Companies that offer anonymity services should deliver them,” he said.

Check that debt collection scam before you pay their bill

Scammers use your public info to make a claim for past bills. Don’t trust what they say or write. Get proof. If they are legit, they must provide it by law. Scammers work by intimidation and harassment.

UBS is sticking with its recommendations that some clients buy risky Puerto Rico closed-end bond funds, despite hundreds of arbitration claims by investors, says an internal document. A UBS AG unit will pay $5.2 million in a settlement with Puerto Rico's financial institutions regulator over the firm's practices involving sales of Puerto Rico closed-end bond funds whose values later plunged.

Fines are not enough to keep clients safe.

REVEALED: Christie officials put pension cash into fund that backed donor’s companies

Charlie Baker running for MA Gov gives donation to Christie who has NJ teacher pension head give money to Baker’s management fund.

Isn’t that quid pro quo bribe?

Corporations spending BIG on TV to win elections/propositions

In many states, TV ads are defining the winners and losers at election time. Voters may not have the true facts but now have their point of view thanks to big money.

Is your business easy prey for these common scams?

Based on a study of claims experience, insurers identified the following four common crime schemes in business:

1.   Billing and Vendor Schemes - Employees set up false vendor accounts and bill a company for non-existent parts or services.

2.   Check Tampering Schemes - Employees use company checks to pay themselves or reissue the company’s old outstanding checks and alter the payee to themselves.

3.   Payroll Schemes - Employees manipulate the amount on their check, or create duplicates of their check to cash more than once.

4.   Expense Reimbursement Schemes - Employees submit additional expenses that never occurred or were not of a business nature and are then reimbursed for those bogus expenses.

Strengthen your process: http://www.insurancebroadcasting.com/news/Hanover-Insurance-2744441-1.html

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Get More Pay Less

Internet Money Smarts: Get More Pay Less by Dan Keppel 

Save $3,000 a year on mutual funds, insurance, etc.
Buy online—skip the “middle-people” markup.
Buy only what you need—with discounts.
Use a Tax-FREE account. Never pay income tax.

Future millionaires are obtaining all the information they need to make wise financial decisions FREE. The answers are online. The financial industry retail model is dying. People of all ages are shopping for almost everything online FIRST. Eventually, people will realize that their advisors are not worth the costs. Ebook $9.95  http://www.amazon.com/Internet-Money-Smarts-More-ebook/dp/B00GEA5EXI

Is $19 a month going to help your budget?

Social Security announced a 1.5% benefit increase for 2014.  That translates to a $19 per month increase on the average 2013 Social Security benefit of $1,272 per month.  One of the reasons SS will run out of money in 2033 is that the wealthy have negotiated a cap on their contributions. The Social Security taxable maximum will increase to $117,000 in 2014, up from $113,700 in 2013. If you make over $117,000, you avoid helping your fellow Americans in need. The wealthy have also just negotiated a cut in food stamps, Head Start, and society’s safety net—Medicaid—in order to pay for their tax breaks. Most pay HALF of what we pay: Warren Buffettpays only 17% total tax, Mitt Romney only 14%, and John Kerry only 13%, Apple only 9.8%. Most of us pay 32.9%.

ObamaCare is like car insurance

We buy it because we all need it whether we have an accident today or not. It is the law. No one is closing the government because we are forced to buy car insurance. I am sure that when you have an accident, you have thought, “I am glad I have coverage to fix my car and pay my bills.” No Tea Partyers complain that car insurance is socialism. We pay in so our neighbor can fix his car when he has an accident.

Is this concept so hard to understand? Really?

Why does the millionaire Congress want the poor to stay uninsured? Congressmen have insurance. Senior Cruz has generous health benefits already. Why is he against them?

KY health insurance site signs up 1,000 a day

Roughly 1,000 people a day are signing up for coverage through Kentucky’s online insurance marketplace, or exchange, a volume that state officials say has far exceeded their expectations. The success of the exchange, known as Kynect, contrasts sharply with the technical failures of the federally run exchange serving 36 states. For example, Patricia Bond, a breast cancer survivor, said she was paying $837 a month for health insurance, a cost that had leapt since her diagnosis. “It’s been really hard to come up with that,” Ms. Bond, a seamstress, said. “I mean, that’s higher than my house payment.” She found that she would qualify for a premium subsidy of $377 a month if she bought an exchange plan. Of the 24 plans that the exchange offered her, the most expensive would be a silver plan for $263 a month after the subsidy, with an $800 deductible. KY has outreach workers to help citizens compare options. Buy only what you need:  http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

ObamaCare by phone despite negative press

Obamacare is providing competitive and affordable choices of health plans that consistently meet minimum requirements, according to an analysis by Innovative Solutions Consulting of county-level data available at the healthcare exchange. People receiving insurance cancellation notices because of ObamaCare had policies that didn’t meet the minimum standards for coverage. They had accident insurance, special disease insurance and lump sum insurance. None of these policies are comprehensive care. If you had to go to the hospital, you would reach your max payout in the first hour. There are thousands of these ‘junk’ policies because they are cheap and don’t cover any major problem.  Call-in app: 1-800-318-2596.

GOP tells Congressman he can't vote

Former U.S. House speaker Jim Wright reportedly was denied a voter ID card on Saturday. "Nobody was ugly to us, but they insisted that they wouldn't give me an ID," Wright, a Democrat who resigned from Congress in 1989, told the Fort Worth Star-Telegram in a story about his experience at a Texas Department of Public Safety office. Wright, who in the early part of his political career pushed to abolish the poll tax, said "I think they will reduce the number [of voters] to some extent." Women are also being denied voting rights because court-approved name changes don’t make it to voter rolls. Most new rules come in GOP-controlled states. Most voters without ID are Dems. Voter fraud is the excuse but few real incidents were found.

FL homeowners see rate DECREASE

Some insurance companies have filed requests for rate decreases, four of which have already been approved, according to the Florida Office of Insurance Regulation. There were more than 20 requests to raise rates, however. "We're also seeing more players interested in the Florida market." In September, for example, Security First Insurance Co. filed a rate decrease affecting more than 100,000 of about 180,000 Florida policyholders, company spokeswoman Toni Harrison said. Use ALL your discounts:http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Some ObamaCare policies free of premium—pay only when need it

7 million people, under provisions of the Affordable Care Act, could qualify for the no-premium plans, the majority in the bronze category, the least expensive available. Bronze policies require people to pay the most in out-of-pocket costs, for doctor visits and benefits such as hospital stays. Free-premium plans and inexpensive policies that cover more indicate the law is achieving its goal of making health insurance more widely available. A number of those who qualify have incomes just above the threshold for Medicaid, an analysis by the consulting firm McKinsey indicated. "The whole point of the law was not only to cover the uninsured, but so people didn't have to make choices between food or drugs, or going to the doctor or dentist," said Karen Davis, a health policy expert at the Johns Hopkins Bloomberg School of Public Health. "It's what it is designed to do."http://www.nytimes.com/2013/11/04/business/under-health-care-act-millions-eligible-for-free-policies.html?_r=0

Tom, a reader, asks about life insurance’s unique tax-free benefit

You are correct. Life insurance has a tax-free benefit but only for your beneficiary. Agents offer loans which are tax free but you must pay the insurer interest. You must die to collect. 

The real tax-free benefit account for you as an investor is a Roth IRA and Roth 401k. You pay NO tax on the earnings in this account when you are over age 65, or meet some special conditions. For those with years of work ahead, this account is perfect for creating a nice nest egg with a tax-free bonus. For those near retirement with an IRA or 401k balance, a small amount can be converted each year. Even after paying tax on the amount of gains converted, you have years of accumulation which are then tax-FREE.  Since taxes will go up and many will be taxed on their SS benefits, it makes sense to use this account. Retirees must take their IRA distributions anyway beginning at age 70, so converting what they don't need now will add extra money later. 

The other important factor in investing is cost. Many fees are taken from investors. It is no longer necessary to pay sales people because low-cost mutual funds are easily managed. Best Investment: Low fees and NO Taxes. http://www.amazon.com/The-Best-Long-term-Investment-tax-FREE/dp/1492117455

Is your health insurance cancelled by ObamaCare?

Many U.S. adults who bought individual health insurance “policies” and now received cancellation letters are discovering their plans weren't worth much. They often do not cover higher cost items such as hospitalization, expensive diagnostic tests or maternity care. See example: https://consumerdirect.bcbsfl.com/sites/default/files/plan-brochures/GoBlue91.pdf ObamaCare requires paid doctor visits, hospitalization and outpatient treatment, diagnostic and screening tests, maternity care, mental healthcare, prescription drugs, home healthcare and rehabilitation services. The “junk” insurance plans were really expensive savings accounts. See The Rainmakerfor example: http://en.wikipedia.org/wiki/The_Rainmaker_(1997_film)

Minimum wage buys less than it did in 1956

Inflation changes everything and nothing: 1956 wages were $1.00 but were worth $5.77. Today you get $7.25 but they are worth $4.87. NJ just raised it to $8.25 which means it will be worth $5.77 again in 2014. Most states remain at $7.25 and are worth $4.87. http://www.infoplease.com/ipa/A0774473.html

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.

Sandy victims still waiting after 1 year—held up by same firm doing website

Only $700 million of the $60 billion federal aid package, only 1.2% of the total funds, has been given to victims of super storm Sandy. Nearly a year after the devastating storm, a majority of the 24,000 families that requested monetary assistance have yet to receive a penny from the federal aid package. CGI Federal is in charge of nearly $2 billion in Sandy relief. Yes, that would be the same Canadian company in charge of the Obamacare website fiasco described above.

Why are we paying Canadian firm to do mistakes? Can’t US firm make mistakes too?

Corporations pay only 12.6% tax not 35% in law—Rich DO NOT pay fair share!

Many foreign corporations like TD Bank, USB, etc pay nothing. Almost one quarter of corporations pay nothing. Many wealthy people pay HALF of what we pay: Warren Buffett pays only 17% total tax, Mitt Romney only 14%, and John Kerry only 13%.

Treasury “estimated 80 tax expenditures (loopholes, offshore deals) resulted in the government forgoing corporate tax revenue totaling more than $181 billion.”

http://www.gao.gov/assets/660/653121.pdf

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com