Your retirement plan takes 63% of your nest egg?

How much has YOUR retirement plan stolen from you?

The people who work for non-profit institutions often have the WORST retirement plans.

In fact, millions of people—teachers, clergy, nonprofit and charity employees who have NO say in their 403(b) plans—may be losing $10 billion each and every year to middlemen who do little to help them, according to Aon. Over your lifetime of saving—and teachers are some of the best savers—your fees will erode 63 percent of what you would have had. Fees go to sales people you have never even met. In short, because of the financial products forced on you by your employer, you may end up with $100,000 instead of $150,000. Your union and your employer actually went along with this HUGE rip-off knowing (kickbacks) the plan options you had to take were not the best. There is no oversight of the insurers and mutual fund firms that take fees up to 2.5% instead of the normal 0.5%. 403b plans are their “cash cow.” These firms know you know nothing about investing, so they throw hundreds of costly options into your plan in the name of choice. Worse, some public employees will not receive Social Security. Most honest advisors use index funds or ETF for unsophisticated retirement savers. And the rip will go on since the new Fiduciary Rule (client’s interests first) does not cover the 403b.

Make your own low-cost pension plan: https://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

Is a market index mutual fund right for you?

What criterion do you use to decide about your advisor’s recommendations? Do you try to understand why that security is picked? Can your advisor tell you why this one will help you reach your goals in what time period? What are the alternatives that might entail less risk? Index funds and ETFs (commissioned index) replicate a market return if they have low fees. Cost is the best predictor of your investment success. So that is the first question I ask. You need to know about the history of a security/company you buy. No investment product is perfect so you may be safer with an index that contains 500 companies not 1. Broad market indexes are popular because you’re buying many firms. This protects you from one firm or sector failure. Stocks have higher returns when you hold them for over 15 years so for that part of your investments, they are right for you. If you need another part of your money to be there when you need it in less than 15 years, a low-cost balanced fund with bonds can provide 9% a year. http://www.saferchild.org/power/

Vanguard’s best funds have provided over 11% over time: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

How much can you invest in your retirement account in 2017?

IRS just announced the new 2017 limits in https://www.irs.gov/pub/irs-drop/n-16-62.pdf. For IRA and Roth IRA contributions, it remains $5,500. For 401k, 403b, 457 and TSP it remains $18,000. A deductible IRA cuts off at AGI of $196,000 if you have no plan at work. It is $119,000 for marrieds who have a plan at work and $72,000 for singles. For those of you in company pensions using 430c2d excess employee compensation you have a special election up to $1,115,000. If you already have a healthy IRA, you can convert any part of it to a Roth IRA making it a tax-FREE shelter for the rest of your life and your heirs. This can be your family legacy plan at no extra cost too.

Tax-FREE income: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Your vote counts? Lobbyists guide government decisions no matter how you vote

When a large corporation has a problem with the government, who do you think they call to fix it? They call their lobbyist like Teneo. They pay our former President, congress person or Speaker of the House to go talk to their friends who still collect measly ($100k) government paychecks. They take them to lunch or pay for this or that. Voilà the decision comes down that fixes the problem. What Teneo and others are selling is access. Corporations buy “juice”; influence and it is a deductible expense to them. “The ability to bring business and political leaders together to meet the C.E.O.s was all part of the selling point.” $1 million a month buys all kinds of influence in 12 different areas—regulation, security, negotiation, diplomacy, financial, etc. For instance, Ms. Abedin worked for Teneo while simultaneously worked as Mrs. Clinton’s aide in the State Dprt. There are over 10,000 lobbyists “running” this country. Don or Bernie don’t have a chance. You need “juice” to change things: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Use your Tax Credits to avoid income taxes like Trump

Most of us receive only 4% of federal tax breaks like food stamps and Earned Income Credit if you are poor or the property tax and mortgage credit if you are middle class.

The Tax-Credit Class pays less income tax with capital gains and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on earnings while we pay 33% total tax. The Tax-Credit Class pays NOTHING on assets they got from a “rich uncle” and on their home when they sell. Most of us don’t “itemize” so we lose all kinds of tax credits. We pay 33% of income for many taxes. We are nickel and dimed for 97 kinds of taxes. The Tax-Credit class deducts medical expenses, job hunting and work expenses not reimbursed by others, deferred compensation (bonus and stock portfolio worth more later), investment loans and costs, investment losses, stuff they lose, stuff they own. They can eliminate income tax by listing losses from buildings, race horses, farms, oil, leasing and businesses they own as partners, LLCs, C and S corps. Trump actually deducted $916 million but most of it was other people’s money. Some bank debt was cancelled which normally is taxable but not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE for 18 years.

Use your Tax-Credits too: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-tax/dp/1539462382

Reality TV or ‘debate’ I can’t watch—like Jerry Springer show?

Which liar will win American’s vote?

Neither can re-create jobs of the good old days!  We don’t see either one as President.

Do-Nothing Congress will decide US future by doing nothing for more 4 years.

           

Trump Network: Don’s son-in-law, Kushner, to start Trump Network Now on FB

            You know I couldn’t live on the Presidential salary—a “step down” for me.

Don:    “now we're supposed to send them out of the country, I don't believe in that” 2012

            Invading Iraq? Yes I guess so. I wish the first time it was done correctly. 2002

            There are now a dozen who claim I was a bad boy—suing each one on 11/9.

            At least a Las Vegas paper endorsed me. Most supporters don’t read anyway.

            Putin getting ready for war—Making Russia Great Again. US troops to Poland

            Liberty University students say I am the antithesis of Christian values—Rigged!

            I gotta be numero uno. Fear public embarrassment most.

            Putin aide emails hacked: started Ukraine war and cyber war for power.

            “we should just cancel the election and give it to Trump," megalomaniac says.

“I can shoot somebody on 5^th Ave and wouldn’t lose voters.” Well, maybe U.S. women.

            Worst campaign? Maybe I didn’t really want to be President. I have job already.

Mike:    Polls are rigged so we spent more on hats ($3.2 million) than on polling $1.8 mil.

           

Hill:     “pay no attention to the polls.” FL leaning to Trump so “no complacency” please

            Congress ALREADY set for my public “hanging” in Chaffetz committee.

            Don says I met ‘international banks to plot the destruction of U.S. sovereignty’

Tim:    "Florida, you guys are a checkmate state" 

            Trump promises to settle his scores [suing accusers] in first 100 days as POTUS.

This election like 1964 LBJ Goldwater: Gen Jack Ripper believes only he can save us too

GOP WI  refused to open polling site believing it would favor Dems.

How the party of Lincoln became the party of Trump—conservative means go backward especially among “Christians” who now accept immoral acts in their public servants.

            Therefore by their fruits you shall know them. Matthew 7:20

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill                requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

Where were regulators—ITT stole $400 million from students and US? Lobbyists won.

ObamaCare: 44% favorably 47% unfavorably. 2/3 Dems 1/3 GOP say it’s working well.

William W. Gammon Towson, Md. Sold unsuitable investments given the clients’ ages

Lee D. Weiss of Boston sold unsuitable investments

Carolyn C. Kaufman, Hudson, Ohio, involvement in a case involving forgery.

Watch out in CO: Bud trucks are on auto pilot and may not see you going for a Bud.

IRS claims to have stopped fake ‘agents’ callers asking for tax bill payments. Hang up.

But IRS bill collectors do call to collect taxes since Congress passed law. Don’t hang up

Trump Toronto near bankruptcy: another Don deal gone bad—investors duped.

Christie: all 7 people lied about my directing Bridgegate. Kelly: I was “a scapegoat.”

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

CR best cars to buy

Buick has come up in the Consumer Reports tests. Honda and Subaru have dropped. Lexus and Toyota have remained on top. Poor showing for Jeep, Ford, Tesla, Caddy.  Slightly used cars are a great bargain. You get the benefits without the new model troubles. Most reliable are the old favorites—Camry Accord Lexus.

And don’t forget your new insurance discounts: 

Do you still need to spend over $25; even $50 a month on cell service?

There are alternatives coming every week for those who need fewer bits every month. Now that you know your usage, it may cost you less with another plan. These plans range from $0 a month to $15: http://www.mymoneyblog.com/list-of-cheap-basic-prepaid-cell-phone-plans-under-10-a-month.html

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has a gun hidden. You and real criminals both have guns. Body cams make it harder to plant evidence and stage scene for TV crews.

Police organization issued a formal apology for the historic mistreatment of minorities.

SCAMS: Feds “overpaid” National Guard to re-enlist and years later takes money back

Global warming: West Africa and Florida watching ocean take over more land

Christie as gov says his staff closed busy bridge traffic on their own: incompetent or liar?

Bundy’s armed rebels go free--“ruling will embolden other militants to use the threat of violence” 

Ignoramus Award: Feds pay people to leave job and fight; then want money back. Congress knew 2 yeas ago and did nothing. Why do we pay Congresspeople anyway? Can we get our money back if Congress does nothing all year.

How our government wastes our money

Feds “paid” National Guard to re-enlist; years later takes money back. Never again!

IRS hires bill collectors: "Encouraging federal agencies to robocall individuals only creates confusion that scammers will inevitably exploit to rip people off."

Where have all the jobs gone?

Twitter layoff “hundreds” of workers—8% of workforce.

Who owns your account now?

Time Warner to AT&T

Reynolds American to British American Tobacco

Scottrade to TD Ameritrade

Genworth Financial GE long-term care and mortgage insurance to China Oceanwide Holdings

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Use a lawyer to avoid taxes

Another way the wealthy avoid paying taxes—a good tax lawyer

Jenkens & Gilchrist were the best tax lawyers in the country—even the IRS admitted that by pursuing them for years for tax evasion and fraud. After lead attorney Paul Daugerdas forged a tax shelter scheme used to generate fraudulent losses and eliminate income taxes worth nearly $7 billion for wealthy clients, the firm grew to 600 attorneys and was bringing in millions. Imagine something like the story in The Firm: Mitch (Tom Cruise) learns that most of the Firm's work involves helping wealthy clients hide large amounts of money in off-shore shell corporations and other dubious tax-avoidance schemes. Mitch goes to a seminar on taxes in Washington, probably given by Paul to other lawyers. Trump could teach that seminar based on his record of tax evasion and asset value manipulation in buildings, casinos, and golf courses. The best minds in the world aren’t curing cancer or world hunger, they work for the 1% who own more than 50 percent of the world’s wealth. “Only the little people pay taxes” one of them said.

https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

Trump new tax plan—cut the personal deduction, raise lowest bracket

A middle-class family of five — two parents, three children — would gain $17,000 for their standard deduction but lose $20,250 in personal deductions. Their remaining income would be taxed at 12 percent, not 10 percent. Extra child-care benefits might not be enough to make up the difference, so they would pay more. Trump eliminates what is called "head of household" filing which raises single parent taxes. “Single parents get hit with all three of the tax increases.” On the other hand, Trump gives a government match of up to $500 per year, per child, for parents who put money into a tax-preferred dependent care savings account. A match requires you to put $500 in an account per child. Because of the huge tax cuts for higher income families, Trump's plan would reduce federal revenue by up to $5.9 trillion over a decade. China will need to buy more US savings bonds to cover the gap since fewer wealthy person and corporations pay tax.

Avoid the Trump/Clinton tax increases: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X

Are you the 1% in your county?

You need only $97,000 income to be a 1-percenter in Holmes County, Miss., or Lamar County, Ala., or $108,000 in Grayson County, Va. You need income over $389,436 to be the average 1% in America. In Teton WY it takes over $2.2 million and growing. In Massachusetts, 1-percenters’ incomes jumped 130 percent from 1979 to 2013; they’ve increased by 112 percent in New York and 113 percent in New Jersey. In New Mexico, they’ve grown only 22 percent over the same period, and in Nevada, only 15 percent.

So the wealthy flock together and have been growing their wealth faster. The huge middle class has lost buying power since the 1970s. That may account for the populist era we are experiencing and the anger Trump is counting on to improve his personal wealth. The 1% has doubled its income since 1979 by capital accumulation and tax advantages we don’t have. The wealthy are not working harder – most of us are working two jobs just to keep up. 1%ers can double their pleasures by avoiding taxes AND compounding their assets. Compounding can double your wealth in 8-10 years.

Use compounding like they do: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

Special Needs child tax-FREE account

ABLE is a way to save $14,000 a year for anyone under age 26 blind or disabled without them losing their SSI benefits. IRS does not tax earnings in this account so it is like Roth IRA. Contributions to $14,000 can be made to an ABLE account on an annual basis up to $100,000, and tax-free distributions if used to pay qualified disability expenses. Check: http://www.ablenrc.org/ For those with greater lifetime needs a trust may help. Trust document available in book at https://www.nolo.com/products/special-needs-trusts-spnt.html. You can also use a Roth IRA to create a tax-FREE inheritance for your beneficiary.

No tax is due on the earnings. https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X

GOP ‘trickle down’ economics failing so KS cancels its scorecard

The end of the council's economic assessment tool is an attempt to minimize public exposure of weaknesses in Brownback's program to build the state's economy by exempting 330,000 businesses from the income tax and reducing individual state income tax. "He specifically asked the council to hold him accountable through rigorous performance metrics," a critic said. "Five years later, the metrics clearly show his tax experiment has failed while business leaders and local chambers of commerce across the state openly ask him to change course." Schools and basic services have been cut to balance the budget since revenues have fallen. Koch Industries has taken its tax cut to other states to invest. Business does not expand because taxes are cut. There must be buyers and consumers with money. KS has proved ‘trickle down’ only works in state controlled economy like Russia and China. Wall Street is betting on Clinton’s plan to raise taxes on the wealthy and business. 79% of Americans favor her plan.

Avoid the tax increases: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Pensions for public employees failing—Wall Street tricks don’t work

Dallas’s police and firefighters are quitting in droves, wagering that financial-market losses are about to render their promised pensions too good to be true. Pension managers made bets on Hawaiian villas, Uruguayan timber and undeveloped land in Arizona instead of a low-cost stock index fund. Hedge funds are closing after years of losing money over the last few years. In addition to poor investment decisions, contributions from cities, towns and states have been reduced; some to zero. NJ and IL are prime examples. The cost of borrowing money has risen since bond raters don’t see a future in cutting pensions and services. In November, Standard & Poor’s downgraded Dallas’s bonds by one step to AA, the third highest grade, citing the need to address the rising liability to the 9,600-member fund. 

Create your own tax-FREE supplement just in case: https://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157

Are “fulcrum” fees in your mutual funds right for you?

Several mutual fund companies such as Fidelity, Janus, and Saturna Capital now use a special kind of performance-based fee structure, known as ‘fulcrum’ fees, in some or all of their funds. Fulcrum fees are modified hedge fund fees for index funds sold by salespeople. A base fee like 0.75 is assessed and then slides up or down depending on how well your fund did compared to its index. So if your fund fell -2% while the S&P 500, your fund index, fell -3%, you would be charged the higher fee. This means that if your salesperson sold you on an index called “smart beta” ETF (sounds cool) for large stocks, you might pay 0.85-1% because your fund lost LESS than the market index. Clearly, this is an attempt by wealthy fund companies to make their expensive funds more attractive by giving their customers the illusion of a price break from the hedge funds charging “2-and-20”—2% plus 20% of any gain. Fidelity and most funds have seen customers jumping to cheaper vehicles—namely Vanguard. Even Vanguard’s managed funds are cheaper than these ETFs since you don’t pay a salesperson—Vanguard’s registered reps are on salary. Morningstar: “cost is best predictor of success”

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

GOP plans to win elections by limiting voting by Dems

Federal courts struck down restrictive voting laws in KS and WI where the court found “The Wisconsin experience demonstrates that a preoccupation with mostly phantom election fraud leads to real incidents of disenfranchisement, which undermine rather than enhance confidence in elections, particularly in minority communities.” TX courts struck down its suppression law in July. Voter impersonation fraud is essentially non-existent in practice and has virtually no chance of affecting an election even in theory. These requirements fall disproportionately on racial minorities and the poor. So these laws have racially disparate effects while providing negligible legitimate benefits. GOP has filled state houses with conservatives because only the die-hards vote in off year elections with the support of NRA and other GOP-leaning groups. Some observers see “a coordinated attack on democracy.” Others see a repeat of old GOP tactics with a twist. Clearly, without the Voting Rights Act and ‘conservative’ Federal courts, long lines may be the least price to pay for citizens of the USA to vote.  NC has continued to block voters despite their own Circuit striking the legislature’s suppression and Supremes’ NO. KS has refused to follow a court order to reinstate voters taken off the rolls by the GOP. FBI said hackers have attempted more intrusions into voter registration databases. If they are Putin’s men, you can guess which voters will be cut from the rolls.

If FL or OH have fewer Dems on voter lists, could Putin actually pick the winner?

Don’s Apology?: “Sometimes in the heat of debate, and speaking on a multitude of issues,   you don't choose the right words or you say the wrong thing. I have done that." 

Hill’s Apology?: “I just followed advice of Colin and other Sec. State before me.”

Don vs Hill 2016 – “debate” as reality TV show? Do Nothing Congress decide US future.

            “I guess I’m having an Aleppo moment,” Johnson joked when asked for name.

Don:    Ted’s 180: “I am not in the habit of supporting people who attack my wife and attack my father.” But like Christie I need a job next year.

            I pay Ted for my mailing list outreach—he needs money; I need Bible thumpers.

            I have been successful at business so I can save America; Fortune disagrees Marla Maples was not an affair like Gennifer Flowers with Bill. “Another planet”

            “They gave me a defective mic,” My mic was defective. I don’t sniffle.

            Giuliani: I wouldn't participate in another debate unless I was promised Hannity”

            ‘You are our country's only hope’ my email to foreigners. “It’s not illegal is it?” 

            If I did pay taxes, “It would be squandered, too, believe me.” So he does not pay?

            “I fight very hard to pay as little tax as possible.” Paid $0 in 1978 and 1979.

            “Another person would be in jail for that,” Jamilla Hawkins, NC debate observer

            “Raise your hand if you're not a Christian conservative. Should we keep them?”

Mike:   Don has answered ALL questions about his Foundation paying debt, political pay.

Hill:    I prepared for the debate. Even the Arizona Republic endorses me.

            I am sending Bill to FL to inspire the Black and Latino voters          

Tim:    GOP John Warner former Senator and Navy Dept helped me in VA

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill                requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

Leon Cooperman Omega Advisors caught as part of an insider trading scheme. Jail?

Colin Whelehan caught insider trading on ADT Apollo Global deal for $24,000. Jail?

Merrill Lynch caught allowing fake trading causing "mini-flash crashes" for stocks.

Wells Fargo execs will not receive future stock awards; no cash returned; no jail.

Is your vendor honest: http://www.consumerfinance.gov/data-research/consumer-complaints/

IRS announced it will eliminate more than 7,000 jobs by 2024 so NO wealthy audited!

Feds go after Mylan for scamming Medicaid out of $ millions on EpiPen. UK pays $69

Wells Fargo whistleblowers fired in 2010; fraud known to 2010 execs—bonuses; no jail

Wells Fargo caught unlawfully repossessing servicemembers cars for seven years; no jail

Banco Santander SA improperly confiscated over 1,000 vehicles from military members

HSBC caught improper repossessions of 75 cars. Not liable; no jail

In 2012 Capital One fined improper seizures. “it might not be in compliance with law.”

BlackRock fund manager Mark Lyttleton caught profiting from insider trading

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot. They assume everyone has gun hidden. You and real criminals both have guns.

If you are black, you get killed even with no gun, hands up, and after stun gunned. They assume you are a “bad dude”; don’t wait to find out. Later say “found PcP in car.” If you act erratically and ignore commands, you are “put down.”

MO just eliminated licensing and training for anyone to carry concealed weapon—crazy!

FL man called NRA group BEFORE victim died from “stand your ground” killing.

SCAMS

“Time for some traffic problems in Ft Lee”—Time for Christie impeachment?

Budweiser, now InBev  Belgium, renamed Bud beer “America” but all profits to Belgium

Wells Fargo exploited a binding arbitration clause to deflect customers' fraud allegations

Cybercriminals in Europe are offering their services for hire to Isis or countries who pay.

ignoramus Award: New laws to keep police videos away from public view—24 states

How our government wastes our money

We are paying $ millions for defrauding for-profit colleges to keep profits Apollo still

Each LCS costs $655 million but does not work and Austal boat built in Australia.

600 more troops to retake (3^rd time?) Mosul—we already trained Iraq to do this once.

Where have all the jobs gone?

Driverless trucks safer and cheaper so 3.5 million drivers need training for …

Student in Melbourne discovered way to kill superbugs without the use of antibiotics: "a breakthrough that could change the face of modern medicine" Drug company jobs gone!

IRS cuts more than 7,000 jobs by 2024 so NO wealthy audited!

Progressive to hire 1,300 IT developers, systems engineers, software engineers, managers

Manulife (J Hancock) hiring for new IT Lab of Forward Thinking in Singapore; Boston.

9 year old graduates HS; college to ‘prove God exists’ with astrophysicist degree!

Who owns your account now?

GM buyouts to 400 of its smallest U.S. Cadillac dealers—find a new mechanic

Jefferson National to Nationwide

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Obama gives insurers BIG bonus

US government gives insurer CEOs a HUGE bonus!

Our Treasury is encouraging retirees to buy annuities, the cash cow of the insurance industry. Annuities have very high fees which rob savers of long-term gains while promising them that they can’t outlive their lowered savings. The department will let target-date retirement funds that are a default option in retirement plans offer long-term deferred annuities. The trouble comes when you retire. When you subtract the fees (2-5% a year) from your earnings over time, you may give up 63% of your nest egg. Instead of having $30-40,000 a year retirement income, you have about $15,000. Annuities have no refund. 

Look at the alternatives before you leap: http://www.amazon.com/Lets-Do-The-Numbers-Retirement/dp/1502775522

Is a low-cost advisor right for you?
Recently, all the major mutual fund firms are beginning to offer a low-cost equivalent to the traditional (expensive) planning advisor. Low-cost providers like Vanguard offer to create a financial plan to match your goals. If you have most of your retirement money with them, the cost is reasonable. Another low-cost alternative is the plan for a fee advisor. Most famous is the Garrett Planners.

If you feel comfortable with your own decisions, use the best low-cost funds: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Regulators vow to punish fraud by brokers/advisors

SEC commissioner said fraud committed by an individual broker or advisor is more likely to cause investors to lose all of their investments than fraud by a large company, which will cause individual investors to lose only some of their assets because they are held in a diversified portfolio. In hearings earlier this year, Senate lawmakers explored ways to help seniors identify scams and fraud. Federal Trade Commission data show an estimated 25.6 million Americans — or 10.8 percent of the U.S. adult population — fell victim to some kind of fraud in 2011. Weight-loss products, billing services, credit repair, debt relief, credit card insurance and mortgage relief were in the top 10 categories. Last year, 429 individuals were barred from working in the financial industry and another 670 were suspended, FINRA said.

Most large mutual fund firms have salaried advisors to help you: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Is the Saver’s Credit right for you?

For 2014, you can qualify for the retirement saver's credit up to $2,000 if your adjusted gross income is $60,000 or less if married filing jointly, $45,000 or less if filing as head of household, or $30,000 or less if you’re a single filer. The lower your income, the larger the credit you can take. And you don’t need to max out your IRA to get the maximum credit. Contributions to a traditional or Roth IRA, 401(k), 457, 403(b) or other retirement-savings plan qualify. Credits are worth more than deductions and can pay HALF your retirement contributions each year. Contribute $4,000—receive $2,000—become a millionaire: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

10 million more Americans have health care—a good thing for all!

Nov 15 begins re-enroll for ObamaCare. https://www.healthcare.gov/

Despite their denials, GOP states like NM, KY, WV and TX now have health care available for more voters. See the map of the HAVES and HAVE NOTs. http://www.nytimes.com/interactive/2014/10/29/upshot/obamacare-who-was-helped-most.html

GOP crazies

Voters voted against Obama as GOP had campaigned and now own Congress. Some vow to take away our health care plans, cut taxes on wealthy/corporations, send our soldiers back to Iraq/Syria/etc, let oil companies export more oil via pipelines, frack all over the place, end regulations on water, air, everything you can think of.

On the bright side, more states want pot and minimum wage. 

We get what we deserve, they say. But I need my health care.

DEMS crazies

Federal Government Made $20 Billion in Secret Purchases in Recent Months

The purchases, known among federal employees as “micropurchases,” are made by some of the thousands of agency employees who are issued taxpayer-funded purchase cards. The purchases, in most cases, remain confidential and are not publicly disclosed by the agencies. A sampling of those purchases, obtained by the I-Team via the Freedom of Information Act, reveals at least one agency used those cards to buy $30,000 in Starbucks Coffee drinks and products in one year without having to disclose or detail the purchases to the public.

“When you have $10,000 being spent at one Starbucks by DHS employees in one city in six months, someone is abusing the purchasing permission that we have given them."

Don’t employees have to declare this as income on their taxes?

Is retirement in another state to save money right for you?

In 2015, four states are lowering their tax on your estate. Tennessee's estate tax exemption will jump to $5 million from $2 million, Maryland's exemption will increase to $1.5 million from $1 million, and Minnesota's exemption will rise to $1.4 million from $1.2 million. On April 1, 2015, New York's estate tax exemption will increase to $3.125 million from $2.062 million. Tennessee's estate tax will disappear in 2016. Maryland and New York will increase their thresholds every year until 2019, when they'll match the federal exemption (currently $5.34 million). Minnesota's exemption will rise in $200,000 annual increments until it reaches $2 million in 2018.

Moving to save your heirs taxes seems extreme. Better to transfer assets now: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Reliable new cars

Consumer reports made their tests to made suggestions to buy and avoid. You are going to save big when you buy a 3-year old model of one on the winning list. You may save 40% off MSRP since cars lose value as soon as you sign the paperwork. Leasing makes sense for your business not personal. Find your car on the list (red check) then shop for your insurance with our list of 14 discounts:  http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Long-term care insurance is expensive; Medicaid right for you?

The person receiving care must generally have less than $2,000 in "countable" assets, which include savings, retirement accounts, investments and life insurance. Your car, primary residence and money in certain kinds of trusts don't count. See www.naela.org or www.nelf.org. Most states have home-equity limits. If you're married, the spouse living at home (called the community spouse) can generally keep up to $117,240 in countable assets in 2014. You generally must receive less than $2,163 per month in countable income to qualify for Medicaid. That includes Social Security benefits and pension, dividend and interest income. See www.medicaid.gov for your state's rules. 
LTC insurance alternatives: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

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.

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.

Uncle Sam has your data—you can’t hide anymore

Facebook is one of the prime feeding grounds for data -- and inevitably requests from federal agencies for said data. According to Facebook's latest transparency report published on Tuesday, the company received 34,946 requests for data during the first six months of 2014. That translates to a 24 percent uptick from the second half of 2013, nearly matched by a 19 percent increase in the amount of content restricted due to local laws where Facebook operates. Facebook's deputy general counsel Chris Sonderby promised in the report that the company pushes "back hard" against any and all requests before forking over data -- if at all. In the United States, for example, Facebook received 15,433 total requests during the first half of 2014, pertaining to data about 23,667 accounts. Facebook responded with data to 80.15 percent of these requests.

The NEW Iraq—same but with a new party

“Wealthy government officials and military officers are buying houses in cash, tearing them down and building mansions,” said Abu Rana al-Zubaidy, a realtor who has witnessed the neighborhood’s transition from backwater to power center. With Sunni jihadists seizing territory less than an hour’s drive from the city, “there’s caution, but everyone still has plenty of money,” he said by phone. The conspicuous displays of Shiite affluence in Zayouna are testament to the shift in political power since U.S. forces ended decades of Sunni dominance under Saddam Hussein, according to Andrew Bowen, Middle East scholar at the Baker Institute for Public Policy in Houston. “Sunnis complain that they are being excluded from power,” said Bowen, adding that the reversal in fortunes is fueling resentment and blocking efforts to unite the nation against the Islamist militants. “There is a strong perception that the new Shiite elite is using the state for their own ends.”

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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Take the Buffett challenge

New Year investment plan

Start this year with a plan. Invest slowly and be patient. The goal is to have $50,000 tax-FREE in 10 years. Create an account at a low-cost mutual fund and send $50 the first month, then $100 in a month or two, then your tax refund in April. If you have no refund, send $200, then $250 by June. Make your contribution of $250 a month automatic by having the trustee debit your account directly. Forget trying to time the market—just keep investing in the diversified top 500 companies. Billionaire Warren Buffett has made the same bet and he is winning. So can you! All it takes is patience he says.

http://www.amazon.com/Meek-Patient-Shall-Inherit-Earth/dp/1492869538

Tax Prep help

YouTube videos to help prepare taxes for the upcoming filing season, which begins on Jan. 31. Get refunds as easily as possible. Many software companies are expected to begin accepting tax returns in January and hold those returns until the IRS systems open on Jan. 31. This includes the Free File partners that offer access to their software for free at irs.gov/Free File. The IRS will not process any tax returns before Jan. 31, so there is no advantage to filing on paper before the opening date. Taxpayers will receive their tax refunds much faster by using e-file or Free File with the direct deposit option. http://www.youtube.com/irsvideos

“Safe” investment lost 28% of value

At its current price of $1,202 an ounce, gold has lost 28 percent of its value this year, the worst drop since 1981, when it slumped 33 percent. No one investment is right so we DIVERSIFY: http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455

Wealthy convert IRA to tax-FREE Roth IRA

Conversions from regular IRAs to Roth retirement accounts increased more than nine times in 2010, rising to $64.8 billion from $6.8 billion in 2009, according to the IRS. Conversions were particularly common among IRA holders with annual incomes exceeding $1 million. More than 10 percent of them converted to a Roth account. The increase in conversions stemmed from a 2006 law that set 2010 for ending a $100,000 income limit on Roth conversions. There’s no ceiling on conversions if an investor has multiple individual retirement accounts and no cap on the amount that can be shifted. You may convert any part of your IRA to a Roth and earn tax-FREE income for life. You don’t need to take distributions at age 70.5. Perfect legacy planner: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Myths of Wall Street

Myth: the lower corporate taxes are, the more companies can invest and stimulate the economy. That’s not how it works. Among the 34 developed countries in the OECD, the average corporate tax rate had little bearing on economic growth. Norway Chile Estonia grew at high rates with the same tax rate as US. US firms are sitting on more cash than ever before. Many multinationals are keeping their cash overseas to avoid taxes. Consumer demand (employed middle class) drives economic growth not corporate taxes.

http://www.businessweek.com/articles/2014-01-02/correlations-high-corporate-taxes-economic-growth-can-coexist

SCAMS           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. 

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

Banks can still destroy our economy and we will still pay for their mistakes

Reforms have not limited their gambling incentives and foreign banks pose even greater risks since we don’t control the interconnectedness of the global betting parlor. http://www.nytimes.com/2014/01/05/business/a-roadblock-to-brawny-bank-reform.html?_r=0

Bank leverage is still too high—taxpayers can’t afford the losses again. Congressmen just can’t afford to say “no” to all that lobbyist funding—$1/2 Billion

JPMorgan will pay $2.6 billion in civil and criminal settlements for its role in the Madoff fraud case. Morgan says they didn’t know anything about his money laundering even though he used Morgan for 20 years. Again, no bankers go to jail.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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