Recession talk scare you?

Where to put your money if recession talk scares you?

There is talk of recession since people who claim they know economics get paid to scare us. Since no one knows for sure when and how this event will take place, we are on our own to decide what to do. Some are already running for their money market accounts even with low rates compared with inflation. Clearly stock and bond markets will be unsteady. Our choice, as always, will be decided based on our time horizon. Warren Buffett is looking for bargains at this point. He already had tons of cash. But he isn’t selling his portfolio as if the world will give up on capitalism. Long-term stocks will beat inflation. Our cash and bonds may help us avoid a big plunge in current account values. However, like Buffett, we should hold our long-term investments with a balanced approach. If we need cash in the next year we should have been accumulating it up to now. Many of our members have been buying the balanced fund Wellesley Income for years since it has maintained a return of over 9% since 1970 with low expenses.

No-worry money advisor: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Elder bankruptcy up

Bankruptcy has increased to 12% from 2% in 1991 for retired persons. Weakened trade unions, stagnated wages and the disappearance of pensions are among the factors that contributed to rising elderly bankruptcy. Many retirees also face rising medical costs as they live longer than expected and Medicare covers a smaller share of their health care needs. What can pre-retirees do? Contrary to what many people think, saving for retirement can help employees boost their ability to pay their student loans, according to a CNBC article. That’s because pretax contributions to traditional retirement plans can help minimize their adjusted gross income. Since the monthly student loan payments are based on AGI, a lower AGI could result in lower payments. “Any time you can put money into your qualified retirement plan at work, it’s always a good thing,” according to an adviser. The most important factor in avoiding a lack of cash later is using the miracle of compounding as early as possible. Compounding can double your money in 7-10 years. Thus doubling your 401k contributions to low-cost stock funds even at age 50 can improve your nest egg three fold. Warren Buffett says compounding made him wealthy.

https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513/

Is your advisor helping you this year?

If you are paying your advisor for money management—1-2% of your TOTAL nest egg—you have a right to ask this question. What is their track record? The market has provided 9% for the last 10 years including -37% in 2008 (2008-2018). So far in 2019, you should have earned over 17% with 11% long term returns. If that ‘professional’ advice you are overpaying for has not been useful, perhaps it is time to switch to Warren Buffett’s strategy. When you need special advice you could pay for it at the CFP’s hourly rate like a lawyer. $750 for 3 hour review of your plan vs $7,500 over 10 years of fees. Otherwise, Buffett recommends low-cost index funds. Morningstar has found that the most important determinant of investment success is the cost.

Try Warren’s Way: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

DIY Financial Independence: Freedom Workbook

Put your money to work so you don’t have to.

Use your IRS-approved tax shelter—Pay 0% on asset gains.

Accumulate $250,000, $500,000 even $1,000,000 tax-FREE. You achieve Financial Independence by having enough money to do what you want. When you don't have to rely on work to survive, you are financially independent. Playing it safe won't achieve it. You don't have to be super wealthy to become free of money worries. Financially independent people have one thing in common: they put their money to work so they don't have to. If you don't put your money to work, you will never be free.   'Compound interest' is the name of the process by which money makes money. You don't need to do a thing besides sending $250 to work every month. You earn money every time you buy things. You own part of the businesses. Compounding is what Warren Buffett counts on for success.

“My wealth has come from a combination of living in America, some lucky genes, and

compound interest.”

How much can your money earn for you? It depends on how long it works and where you put it to work. The best strategy is to use your Wealth Reserve to shield your money while it works in places you shop. You can use a special IRS-approved Tax-FREE account to avoid all tax on investment dividends, earnings and interest. You can also avoid the fees and commissions on this account. Your $250 a month investment may grow to $1,000,000 or more and it is all tax FREE. That $3,000 a year for 33 years ($99,000) compounds to $1 million if you put it to work: capitalism.

Put money to work: https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook/dp/1088908500

Women: Median Retirement Income Is 42% Lower Than For Men

An average working woman earns 21% less than an average working man. While a portion of this earnings gap is caused by different career and lifestyle choices between men and women, gender discrimination still sandbags women’s ability to earn an income and thrive during their working years. The gender earnings gap has implications for women as they age. For example, the average woman qualifies for Social Security benefits 23% lower than the average man. On average, women have life expectancies five years longer than men, requiring higher levels of retirement saving. The report’s authors also found that women face higher retirement health-care costs, needing an average of $140,000 by age 65 to have a 90% chance of covering their health care costs, versus $124,000 for men. Women have less income to accomplish higher retirement income needs than men. So women have a greater need to make their investment dollars grow faster than men. Warren Buffett recommends that we are more successful investors by being patient. Women are more successful investors because they are less likely to engage in rapid asset transactions. Buy and hold is often the best strategy.

https://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

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How Govt wastes our money: Congress spends another 1.7 Trillion we don’t have! 

Families torn apart by Trump’s actions sue $ billions from US not Trump. harmed or fondled!

Trump’s 2017 tax break for family recalled in Trump tariffs: we pay $1,000/year in tariff

Trump considers payroll tax cut to boost failing economy: He also claims not failing!

Trump plans capital gains tax cut: why even bother with Congress taxing authority?

Bank lobby killed rule that kept banks from making wagers with our deposits: Bailout II?

Pentagon cancels ‘missile killer’ project: saves US $1.2 Billion

SCAMS/SPINS:

Bundling your car and home insurance may not be as good for you as it is for insurer.

Trump calls El Paso mayor a RINO to his face: Weak dictators insult grieving to face.

NRA tells Trump to forget background checks: blame mental ill as diversion for votes.

Scam to steal your Medicare ID promise screening for cancer: suffer emotional abuse

Trump rallies are full: participants receive overtime pay from employers.

Now he is calling the Jews ‘disloyal’: his concentration camps are built and ready

Trump changes rules to hold immigrant families ‘indefinitely.’ Jail kids over 20 days.

Trump considers cuts to Medicare to trim deficit: Wealthy tax cuts created $1 Trillion

Trump to end your child’s birthright: we have to pay to buy our kid’s citizenship. Insane!

John Tillotson caught impersonating clients to transfer funds to his firm

Scott Strochak Castleberry caught fraud promised insured real estate returns

Sheraton caught letting legionnaires disease grow in water system: killed 1 guest

Insurance firms pay police/prosecutor to convict customers of faking theft/damage.

IRS does not send emails: do not open email from them

Jobs

The war for talent in the independent broker-dealer industry is real: Best get more fees.

CEO pay grown 940% since 1978, while workers’ pay only 12%. CEO’s power not skills

Execs get the raises this year: workers get discretionary bonus for top performers

Boeing hires to start delivery schedule of 737 Max

Goldman Sachs hiring coders to make trades: Program trading is dangerous like last time.

Who owns your account now?

Low cost places to live when you must start a new life on limited budget.

Vaping may cost you a lung: heavy breathing can give high too.

WV finds and returns $1.2 million in life insurance benefits people did not know about.

Why Robo callers can’t be stopped by government or tech or God: Window-dressing deal

Miracle:

Your lucky day: woman survives chute failure 5,000 foot fall—hit trees at 120 MPH

Miracle if Congress bans AR magazines: NOT for hunting; just killing: 41 in 32 seconds

Catholic teaching: the priest’s “racist” dog got black cleaning lady fired. He blames dog?

Trump retweet: Israelis “love him [Trump] like he is the second coming of God.”

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Best way to start investing

What is the best way to start investing for the future?

The best way to start and continue to invest for a lifetime is a Target-Date or ‘balanced’ fund. Because we don’t know when the market will fall, we can’t time the market to get out at the right time. People who try this strategy usually lose. In fact, over time, they usually earn just 3.79% versus 11% for the ‘keep-investing’ folks. Inflation of nearly 3% reduces their buying power even further. Why does this happen? Most of us take the short view; not the long view with our savings/investing dollar. If our quarterly statement account shows a loss, we opt out of the long-term 11% return. We can ride out a market fall by using a balanced fund like the low-cost Wellesley Income Fund. Its allocation of 60% bonds/40% stocks has provided nearly 10% a year since 1970. So even when stocks fell 37% in 2008, this fund had less of a ‘statement’ loss to overcome. Also, some folks seem to think that when the market falls 37% they actually lose 37% of their money. If you don’t sell, your fund holds the same number of shares so when the shares rose 27% and 32% as in 2009 and 2013, your account value still maintain the 10% a year over time. Stay invested for more: https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

 

Are women better investors than men?

Studies show that women are willing to wait for their accumulations to grow. Patience pays, according to Warren Buffett. When women in one study worked with woman advisors, they held less cash and considered themselves to be more risk tolerant than men. Consequently, their returns were higher. Among the participants, those working with an advisor had a cash allocation almost 15% lower than those with no professional financial advice. However, when female investors worked with male advisors, two-thirds of this affect was offset. The data parallels the experience of master investor, Warren Buffett. Recently, he won his bet with a hedge fund manager using 5 different strategies. Buffett bet $1 million that a simple low-cost index fund (Vanguard 500 Index fund) would outperform stock-picking investing. DALBAR keeps track of investor returns and has shown that over time, a low-cost index wins: No trading, no market timing, and no chasing earnings. In each period, advisor-managed accounts earned less than ‘buy and hold’ investors: 3.79% versus 11%. Wall Street is wrong.

Learn patience: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

How much can your money earn without you?

Do you expect your money to work for a living? If not, you are losing the largest potential earnings available. Fidelity looked at its most successful investment accounts. Guess what? The most successful accounts were owned by people who died or who forgot they had them. Lesson: don’t pay anyone to ‘manage’ your accounts. How can this be true? Warren Buffett the greatest investor of our time says his success is from ‘compounding.’ If we leave our stock/bond account alone, it will earn money by itself. We do nothing! For example: Invest $250 a month in Buffett’s recommended account and 33 years later you have about $993,000. You invested $99,000 (3,000 x 33 years). Your money earned $894,400. You did NOTHING but allow $250/month to work!

Let compounding work: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513

When Fed rates fall, retirees need inflation-buster

If you rely on ‘high’ savings rates to float your retirement income then you better plunge into 2.5% paper now. However, with inflation running at over 2%, you are losing your purchasing power. All your costs are going up and your earnings down. What to do? The answer is having enough for expenses now and growing your assets for the future. You must bust inflation wide open or your future income is in jeopardy. How can you do that safely? A little risk goes a long way. Think of it this way: part of your assets are for 2 years out and part for 10 years out and part for 15+ years out. Don’t think that all your assets will be needed at the same time. You can afford a little risk with those 15 year assets. Your 2.5% works for now but won’t cut it for later. For later, a balanced fund is best. A long-term winner is the 40% bond/60% stock fund from Vanguard. Balanced Index shows solid a 6% return since 2000 with only 0.07% cost. Or the low-cost Wellesley Income Fund. Its allocation of 60% bonds/40% stocks has provided nearly 10% a year since 1970. Plan 2 year, 10 year and 15+ buckets.

Best Deal: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

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

Planned Parenthood barred from doing family planning. GOP needs more SSI kids.

Personal Financial education wasted: need info at time of use not ahead of time.

Trumper defies Congress subpoena: respect for law ended by GOP? No jail time!

More troops to Saudi and Mexico as US ready for wars again.

EPA cancels inspections that catch polluters in the act: Koch etc donations ‘speak’

Labor secretary worked against labor for Ford, Boeing, etc to kill protections.

SCAMS/SPINS:

Government can’t stop Robo calls; can phone companies? For a price?

How many times can you cry wolf?  Any credibility left?

What happens if ObamaCare ends? Freedom to go bankrupt: unpaid costs take savings.

NJ, NY, CT sue IRS: SALT tax cap $10K discriminates against one group of people

Todd Ficeto, CA caught ‘pump and dump’ penny stock scheme: $200 M fraud—jail?

Henry Wieniewitz caught selling securities w/o license 630 customers $3 M commission 

People’s pain concentrated in certain markets: solution creates the problem

Beware: ‘Extensions’ you download may sell the info you don’t want people to have.

Beware: Financial ‘research’ is commodity like discount airline seat: cheap buys cheap?

Jobs:

Criminal contempt of Congress?: Barr and Ross are NOT arrested; business as usual.

Who owns your account now?

Summit Brokerage to Cetera Financial Group’s previous parent company, RCS Capital

USAA brokerage to Schwab

Miracle:

Racist not impeached from US presidency: Politicians fear! Few stand for America

Barefoot woman climbs Mt Rushmore: No gear/shoes--$1000 fine but not to top

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Buffett's Vanguard retirement income funds

Warren Buffett’s Vanguard Funds for retirement income

+World's greatest investor's retirement advice

+Retirement income for life from 2 Vanguard funds 

+Avoid "high-fee managers" 

       Warren Buffett's will provides for his family by directing that his cash assets be invested in just two Vanguard funds. Former securities firm head, Ian Sender, explains Buffett’s advice:

http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592/

Let them die—the shocking GOP plan for constituents

Because Republicans in half the states have blocked the expansion of Medicaid, funds to public hospitals with large uninsured populations have been slashed. So far, at least five public hospitals have been closed this year and 5,000 hospital employees have been laid off nationwide. The closures are expected to worsen in the coming years. In Georgia, as many as 15 more rural hospitals may close "within months" and in Tennessee, which is putting off a decision on expanding Medicaid, almost half of the 61 rural hospitals in the state might face "major cuts or closure." This is a direct — and disastrous — consequence of Republicans' ideological opposition to Obamacare.

There was really no downside to extending Medicaid to cover individuals who earn up to 133% of the federal poverty level. The federal government is covering 100% of the cost of Medicaid for the next two years and 90% afterward. Columnist Josh Barro has pointed out the bind: "(W)hen Republican state officials decline to participate, they will have to explain to both medical providers and potential Medicaid beneficiaries that they turned down free federal money just to spite the President." And yet the 25 states that have indeed refused Medicaid expansion will soon find they're not just spiting the President but also their own citizens. Governor Nathan Deal (R) of Georgia thinks Reagan’s emergency treatment law is an onerous law which is costing too much money and wants Congress to repeal it and just let those poor people die. Reagan’s Emergency Medical Treatment and Labor Act of 1986 requires that a hospital treat anyone in an emergency, regardless of insurance.

Is it Reagan’s “socialized medicine” or just humanity? America becomes 3^rd world nation—the very rich rulers and the very poor—Two Americas.

GOP hates it but ObamaCare works

Through the end of February, Kentucky’s health insurance marketplace, Kynect, has enrolled over 265,000 people in healthcare coverage since open enrollment started in October. In the month of February alone, 70,000 people signed up for a new healthcare plan. This has to be disappointing news for Senate Minority Leader Mitch McConnell (R-KY), who is running for reelection in November and is using the ACA as a major campaign issue.

ObamaCare subsidies vary

Some of the biggest federal subsidies will be required in portions of Colorado, Georgia and Nevada, where premiums are highest, according to a Digital First Media analysis of premiums and tax credits across 50 states, plus the District of Columbia.

Far fewer tax credits will be needed in places as Minneapolis, Pittsburgh and Tucson where insurance premiums already were among the lowest in the nation.

"Because there is so much geographic variation in cost, the government does have to pitch in a larger portion of premium in higher-cost areas to make coverage affordable," said Cynthia Cox, a researcher at the California-based Kaiser Family Foundation, who also has developed a national database on premiums and tax credits. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

How can Costco survive paying workers $21 an hour?

US corporations and our “elected representatives” say that corps can’t make a profit without $7.25 wage rates. Yet Costco has done it from the beginning. So paying non-living wages must be a choice not a necessity. And Costco makes it work in 187 locations around the world. The CEO is not greedy, taking only 48 times the average workers’ pay compared with over 700 times the pay at Wal-Mart and Target. 

Henry Ford was right—pay workers so they can buy your stuff!

Buffett says America’s best days ahead

Warren Buffett, top investor, told his shareholders that he has “always considered a 'bet' on ever-rising U.S.prosperity to be a very close to a sure thing." "America's best days lie ahead." Buffett’s firm owns 80 businesses, from retail to railroads, insurance to ice cream. Invest like the best:http://www.amazon.com/Warren-Buffetts-Investment-Secret-Steeple/dp/1484189809/

Amica Mutual, Erie and Nationwide ranked highest in homeowner claims satisfaction, according to J.D. Power. USAA is best but only for military. Buy only what you need and save every year:http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870/

Long-term Care Insurance for home assistance may be overpaying

A study of LTCi claims shows that most (59%) pay for help living at home. Assisted living facilities are the least common care setting, though, with only 14% of all long term care claims put towards care at these types of facilities. Most claims pay for part-time worker assistance with basic daily tasks such as bathing, dressing, and getting around for short periods. Typical events are recovery from a broken bone at home. Consider all the alternatives: http://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X

Credit Unions still offer free checking plus

Bankrate's 2014 Credit Union Checking Survey found that 72 percent of the nation's 50 largest credit unions offer a free checking account, meaning the account charges no monthly service fees or point-of-sale transaction fees regardless of the balance. As commercial banks take higher fees, CUs offer no tricks, no hidden fees, just plain service. http://www.ncua.gov/NCUAMapping/Pages/NCUAGOVMapping.aspx

Women at risk for retirement income

A new study outlines some of the underlying reasons why women are at greater risk than men of not achieving a secure retirement. Forty-five percent of women work part-time so are less likely to have workplace retirement benefits. Seventy-five percent of women who are offered an employee-funded plan participate in the plan. Fifty-five percent of women are saving for retirement outside of work in an IRA, mutual fund, bank account, etc. Only 35 percent of women use a professional financial advisor. Leah’s money book:http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293/

Obama to cut hedge fund manager tax subsidy

His 2015 budget includes tax cuts for the poor and cuts to subsidies for the rich. Hedge fund managers are allowed to call their paychecks a capital gain and so pay less than we do. Under current law, carried interest, or the profits share received by private equity managers, gets treated as capital gains, with a top basic rate of 20 percent as opposed to the ordinary income rate of 39.6 percent. Obama wants this change to pay for the $60 Billion in worker tax cuts. 185 people pay more for 85 million to spend more.

Will Congress ignore the money from lobbyist and help working people?

ObamaCare exchanges allow us to buy only what we need

Consumers shopping on the Obamacare exchanges are thriftier than the general public, with more picking health plans based on price rather than their choice of doctors, a study found. While the general public prefers more expensive plans that cover a broader range of doctors and hospitals, 54 percent of those who are uninsured or who buy their own coverage select plans that cost less, even if they have less say in providers, the Kaiser Family Foundation found in a poll released today. Only 35 percent of that group would pick a more expensive, broad-network plan. About 70 percent of plans on the public exchanges are “narrow” or “ultra-narrow” plans, according to a December study by consulting firm McKinsey & Co. The study also found that incumbent companies were offering three times as many narrow plans as they did prior to Obamacare. The narrow plans have also caught the attention of small employers and will soon become a staple of the industry outside of the public exchanges, Mendelson said.

Supremes want to limit our right to sue firms for fraud

A majority of justices are expected to side with companies that want to reduce their exposure to class action claims, but a 1988 precedent stands in the way. A pro-business Supreme Court takes direct aim at one of its landmark precedents Wednesday in a case that could make it more difficult for investors to prove securities fraud.

At least four conservative justices have made clear their desire to modify or overturn a 1988 decision that permitted class-action lawsuits based on investors' belief in market prices that were skewed by misrepresentations or omissions.

So GOP wants to cut regulations AND keep us from our “day in court.”

We have no redress if companies destroy lives and property.

http://www.usatoday.com/story/money/markets/2014/03/04/supreme-court-securities-fraud-halliburton/6017115/

401k plans with high-fees rob workers of their retirement

For a young worker, the fees charged in excess of an index fund entirely consume the tax benefit of investing in a 401(k) plan, according to a new study. We also document a wide-array of “dominated” menu fund options where the costs of fees so outweigh the benefits of additional diversification that rational investors would not invest in these assets. Dominated funds earn less than their low-cost menu alternatives by more than .60%. Move your assets to low-cost funds and earn over 50% more by retirement. http://www.amazon.com/Tune-your-401k-EARN-Tax-FREE/dp/1490591028

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

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

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

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

DoD head Hagel proposes budget cut but still pay for F35 plane failures.

Cheney cut 25% of DoD budget starting in 1990 as ‘peace’ dividend.

Spies claim they are just “reading” the faces

US senators said British and US spy agencies showed a "breathtaking lack of respect" for privacy after reports they had intercepted and stored images from webcams used by millions of Yahoo users. The Optic Nerve program collected still images of webcam chats regardless of whether individual users were suspects or not. Webcam imagery, contained a significant amount of sexual content from more than 1.8 million Yahoo user accounts around the world.
 

UK papers report CIA hacking Senate committee computers

Now we have the ultimate sign of the end of American democracy: government spying on own oversight committee of duly elected representatives.

Wow—the conspiracy theorists are right—spies everywhere but on our enemies.http://www.theregister.co.uk/2014/03/05/cia_senate_watchdog_spying_row/

Colleges where students are packing heat

GOP backed gun-toting students now put teachers in awkward position: how to outdraw a younger upset gunslinger. Where is Wyatt Earp when we need him?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Understand your 401k statement gibberish?

Did you understand your 401k statement?

Some statements “disclosed” a wide range of fees, as in “your expenses range from 0.25% to 2%,” leaving us wondering where exactly our fees stood. What’s more, the fees came without any guideposts on industry averages. So even if a company was told it paid, say, 1.25%, we would have no idea how those fees stacked up against other plans. This is no accident, critics charge. “They didn’t try to make it plain English and fail,” Employee Fiduciary’s Carpenter says. “They complied with the letter of the law and made it as gibberishy as possible.” Over time, fees can take up to 40% of our nest egg. Some employers are asking for low-fee products. Fewer investment options are offered but they are not better. 25% of assets are invested in actively managed U.S. stock funds and just 9% are in indexed U.S. stock funds. Managers get rich whether we employees make money or not. Small plans usually have to pay more too. It may be better to use an IRA with low-cost funds of 0.02% to maximize retirement funds. Our Guide helps you decide: http://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938/

Is it time to shop for homeowners?

State Farm Gets 4.7% Homeowners Rate Hike In Illinois. They claim higher claims from weather and home repairs. Buy only what you need and save the increase: http://www.amazon.com/Homeowners-Insurance-Beware-coverage-policy/dp/1480100870

Alert: Agents pushing products to win trips

If your agent talks about a fixed indexed universal life insurance product, FG Life-Gold, ask them about other alternatives. This product is sold to qualify for a 2 night 3 day trip to Las Vegas, Nevada in June 2013. Universal life has a savings account attached to term life coverage. You pay a large commission. Skip it and unbundle coverage. If you need insurance, buy only what you need and save:http://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

FL GOP does not want voters to vote. IS this America?

GOP wants to win no matter what it costs. In one town, the mayor shut down the voting with people in line. After reopening voters could only do absentee ballots. Despite long lines—some waiting over 5 hours—Obama still won in FL.

Lines for hours look like scene from Third World countries.

What is with Florida voters?

Why do they elect people who want to stop the vote?

Are all these people trying to commit fraud?

http://www.miamiherald.com/2012/11/04/3081614/florida-democratic-party-files.html

GOP voter suppression actually helps Obama win election

GOP tried changing the rules, changing ID requirements, end early voting periods, changing time and place of vote, sending GOP goons to intimidate voters, registering only Republicans. This activity just makes people mad enough to stand in line for hours. Despite efforts in 33 GOP controlled states to restrict the vote, exit polls reveal that the minority share of the 2012 electorate increased from 26 percent in 2008 to 28 percent in 2012. 

In NJ, Gov Christy told voters to go to their closed polling places (Sandy) and vote in mobile machines there—the trucks never showed up. Obama still won.

http://www.forbes.com/sites/rickungar/2012/11/09/how-gop-voter-suppression-efforts-contributed-to-obama-win/

FL AL will not provide health care exchanges to citizens

Rick Scott says he still won't implement parts of President Barack Obama's health care overhaul despite the re-election of the president. The U.S. Supreme Court earlier this year upheld the law, but said that states could decide whether to follow the law. A health report estimates the state could expand its Medicaid coverage to more than 1 million residents without spending additional money by offsetting costs in state-funded hospital programs and other safety nets. Will Scott relent?

VA is not ready to offer health exchanges to citizens

Bob McDonnell has done an about-turn on the establishment of a state health benefits exchange inVirginia. On Wednesday, in a post-election press briefing, McDonnell conceded that Virginia would not meet the Nov. 16 deadline for a blueprint for the state-run exchanges.

KS SC LA will not offer health exchanges to its citizens

Gov. Brownback said his administration won't partner with the federal government to set up a health insurance exchange called for by the federal health insurance overhaul. "Kansans feel Obamacare is an overreach by Washington and have rejected the state's participation..."

AR, NC  will partner with ObamaCare to give uninsured health care

GOP state government decided to rely on Feds to organize exchanges for sales of policies for uninsured, providing subsidy for poor.

NJ WI AZ Gov not decided about helping uninsured

New Jersey has 1.3 million uninsured," said Jeff Brown, health care advocate with New Jersey Citizen Action. "The governor's decision is going to affect hundreds of thousands of people."

MS will offer the uninsured help

Mississippi Insurance Commissioner Mike Chaney has submitted the state's plan for an insurance exchange to the federal government. The deadline is Nov 16 extended.

See State overview: http://www.wset.com/story/20114848/glance-implementation-of-obamacare-by-state

Most insurers welcome new customers via health exchanges

Spurred by the individual health insurance mandate and the prospect of adding thousands to their rolls, a majority of health insurance leaders say their organizations are already preparing or implementing plans to participate in health insurance exchanges, according to the results of a poll conducted by KPMG.

Women more likely to understand LTC needs but less to have plan

A new study reveals that 30 percent of U.S. female adults said they're not sure how they plan to address their potential long term care needs. And 57 percent of women reported they're likely to need help meeting financial expenses. Having a plan to deal with financial issues increases the likelihood of dealing with emergencies well. Furthermore, only 37 percent of women said they're saving for their future needs, and are significantly less likely to own long-term care insurance than their male counterparts (9 percent vs. 15 percent). Make a plan and be more confident:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/

Police sue for free speech too

A law enforcement union filed a lawsuit challenging the constitutionality of a Wisconsin law effectively ending collective bargaining for most public workers. The lawsuit comes less than two months after aDane County judge ruled the law unconstitutional as it applies to school district and local government workers. That ruling came in a case brought by Madison teachers and Milwaukee city workers. It did not apply to state workers. Gov Walker is appealing that ruling. Walker exempted from the law, the state police who supported his election. The lawsuit charges violation of equal protection.

Did your advisor tell you they had to raise fees?

For the second-straight year, LPL plans to raise the fees on its brokers. LPL is one of the largest independent brokerage firms. If you advisor did not increase your costs last year, look for it this year. It seems that the larger the brokerage firm revenue, the higher the fees go. You may want to move your portfolio to Vanguard or Schwab, which just lowered fees. http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

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

Regulators going after annuity sellers!!!

In one case, the seller convinced the customer to mortgage her primary residence to invest $300,000 in a variable annuity. The sale was reversed given that the customer intended to retire in seven years, had limited income, expected an equally limited retirement income and would have an insufficient monthly income to make the mortgage payments. The seller was fined $5,000 and suspended for 10 days. Not a big deal. Variable annuity sales can produce 6-10% commission. So $18,000 - $5,000 fine =$13,000.

In another case, the seller forged documents for a variable annuity replacement contract in a state in which he was not licensed to sell insurance products and included false information in the firm’s electronic books and records. Suspended for 3 months.

MassMutual was fined $1.65 million by regulators for not telling variable annuity buyers that they would lose interest when a cap on their  guaranteed minimum income benefit (GMIB) value was reached.

Who owns your account now?

Homeowners Choice has assumed 59,688 homeowners' policies from Citizens Property Insurance Corporation, Florida's state-operated insurance company.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Wealth: What Every Student Needs to Know iTunes $3.99

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Start today! Every year you delay costs you $100,000 later. http://itunes.apple.com/us/app/wealth-what-every-high-school/id540588535?mt=8

 

NC to reduce uninsured by 64% with ObamaCare

With the implementation of health reform, the first year of the Medicaid expansion alone is expected to reduce the number of uninsured persons in North Carolina by 64 percent, said a new report from the Budget and Tax Center a project of the North Carolina.

 

America is getting older

Baby boomers will turn age 65 at a rate of nearly 8,000 per day for the next 17 years. Most couples will need income for 30 years. IRAs must be used starting at age 70.5. If they are not needed, IRAs may be converted to Roth IRA which allows all gains to be left to heirs tax FREE like life insurance. 401k income is taxed as income. Social Security benefits (up to 85%) may be taxed if other income is high. A little planning goes a long way with our Guide:   http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Will you have enough? Where will you invest? How much will you spend?

 

Is your advisor talking and showing variable annuity benefits again?
LPL and other firms are helping their advisors to push variable annuities since sales are down and commissions are up. LPL and others are using videos to help capture more clients’ dollars. The benefits are income and growth in the future during low interest times. Your advisor should also mention the costs and risks of these products. The SEC has warned that misleading claims can lock you into low benefits/rewards in the future:

 

RememberVariable annuities are designed to be long-term investments, to meet retirement and other long-range goals. Variable annuities are not suitable for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Variable annuities also involve investment risks, just as mutual funds do.

http://www.sec.gov/investor/pubs/sec-guide-to-variable-annuities.pdf

 

 

Book review Red Ink: Inside the High-Stakes Politics of the Federal Budget

How did we get to this point of owing $49,000 for each family member, up from $1,640 in 1966? Pulitzer-Prize-winning reporter David Wessel explains each party’s contribution to the mess. Who pays tax and who does not, how much goes to waste, how much is decided by 12,000 Washington lobbyists at $10,000 to $20,000 A MONTH retainer? How did corporations reduce their share from over 30% in the 1950’s to 6.6%? In 1980, 22% of all business profits were booked by firms that did not have to pay corporate taxes. In 2008, 73% of all business profits are booked by firms that don’t pay corporate taxes (yellow line in graph keeps going down).

Estate taxes account for less than 1% of revenue. Wage earners are paying 58 cents to state/local government for every $1 paid to the Feds. Why Reagan had to raise taxes 14 times and still couldn’t balance the budget. 

Is this socialism for the rich or what?

http://economix.blogs.nytimes.com/2009/10/20/federal-revenues-at-lowest-share-of-gdp-since-1950/

 

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+Twelve low-cost mutual funds that return 11% long-term.

Where is your sloop going? A retirement portfolio that flies. $12.95

Just published https://www.createspace.com/3948629

 

Insurers to raise price of UL life policies

Survey shows many insurers must raise the premium and lower their guarantees because of low interest rates and poor profit records. UL has a life insurance component which continues to cost less and savings component that can’t meet promises. Perhaps you should take your buildup and invest it while you switch to a lower cost term policy. You will have more later and still be covered. Life insurance is never a solid investment.

http://www.amazon.com/Drop-Your-Insurance-Dan-Keppel/dp/1448623391

 

 

GOP wants Romney to abolish interest deduction to lower his classes’ taxes

Republican platform drafters refused to put their party on record for preserving the mortgage- interest deduction, giving Mitt Romney more flexibility to promote his plan to lower tax rates paid by corporations and the wealthiest Americans without increasing the federal debt. Middle-class taxes would go up to pay for GOP tax breaks.

Who would vote for that outside the 1%ers?  http://www.sfgate.com/business/bloomberg/article/Republican-Platform-Won-t-Spare-Mortgage-Tax-3804350.php

 

 

Are commission-based accounts right for you?

Advisors are trying to switch our accounts into fee-based revenue accounts. Some are getting rich on 1-2% per annum but 72% of industry assets remain in commission-based accounts. Which is best for you? Like life, it depends on what you want to do. If you are a buy and hold investor, paying a low annual fee and no commission may be your best bet. If you like to pursue the hot products, a 1% fee may be great for hopping in and out of new trends. ETFs are popular but there are commissions to pay while an index fund of the same market may be cheaper. Learn from the insiders: Lies My Financial Advisor Told Me http://www.amazon.com/gp/product/1478281545/

 

Are your mutual funds really holding index funds (ETFs)?

Since you are paying 1-2% for a manager to pick market beating returns, would you be surprised (and angry) to find that they have put a lot of your money into index funds? It is true. Smart Money revealed that some small cap funds are actually invested mostly in the Russell 2,000 stock index ETF. Your manager may claim that they can easily sell the ETF when you and others want to cash in, but doesn’t that defeat the purpose of paying a “professional” to make the “smart” bets? Why pay extra for ETFs when you can buy the real McCoy and save the manager’s 1-2% fee plus ETF fee. The difference can be 40% of your total nest egg long term. In the last 10 years, Vanguard Small Cap Index has moved up 9.79% annually. You need your money more than your manager! Try it “neat!”  http://www.amazon.com/Wealth-Without-Wall-Street-Avoid Commissions/dp/1442168137

 

Women dissed by advisors?

According to a Boston Consulting Group survey, 73 percent of women say that they are dissatisfied with the financial services industry. Women claim they are overlooked, excluded, receive contradictory or poor advice and get worse deal terms than men.

But women are better investors than men and most know how to shop for a bargain. Stop wasting money and get better financial performance too: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408

 

Woman dissed by GOP

Paul Ryan, a married Roman Catholic, would overhaul women’ s health rights, Medicare, Social Security, and the health care law. He has actively fought abortion rights, government funding of family planning and insurance coverage for contraceptives. GOP platform says no abortion for rape, incest, even the death of the woman. GOP claims the sanctity of life, but not the pregnant woman’s life? Back to the coat hanger in the alley?

 http://www.nytimes.com/2012/08/22/opinion/what-the-gop-platform-represents.html

 

College student’s stuff may be covered by homeowners’

Check your policy or agent to confirm that your policy covers most of their stuff in the dorm or off-campus housing.

 

10 investments that worry regulators

Test your knowledge of the top investing scams being investigated by local regulators.

http://www.nasaa.org/3752/top-investor-threats/

 

 

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

 

Life Partners accused of fraud—“Gambling on death”

Accusing Waco-based Life Partners of fraud, state officials asked a state district judge in Austin on Thursday for authority to seize the life insurance settlement broker because it may run out of cash in two months. Texas claims that Life Partners sold unregistered securities and manufactured the value of the life insurance, or viatical, settlements by artificially shortening the life expectancies of those covered by the policies.

The company bought up insurance policies from elderly people, then resold fractions of the policies to investors, often promising big returns -- saying they are safer than buying gold or stocks. But some investors discovered that they had to pay premiums to keep the policies from collapsing, as people lived far longer than Life Partners predicted. Dah.

 

Congress benefits from letting lobbyists write our laws?

You have to be a millionaire to understand how the laws are written and they are.

http://thehill.com/business-a-lobbying/243625-the-hills-2012-50-wealthiest-in-congress

 

 

Who owns your account now?

Coventry Health to Aetna

 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com