Your Investment Edge

Your Investment Edge: A Tax-FREE Growth and Income Account

In these times, you need an Edge to get ahead on investments. Tax-FREE accumulation provides an extra 25% to your investment total. If you earned 15.3% last year, you could have made the equivalent of 23.3%. You never pay taxes—no federal, state, capital gains or dividend taxes.  Start your EDGE today for free.

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

Why Washington feels free to cut our “entitlements”

Ever wonder how our “representatives” will survive in retirement after all the money they want to take away from hard working Americans. They don’t have to worry since they pay less and receive more than almost any American worker. Plus their health benefits are better than ours. Their retirement package also includes Social Security. Half of them are already millionaires—buying stocks of companies they know will go up because they passed bills making it so. They don't need to worry about benefit cuts. They have $ millions.

http://www.nbcnews.com/business/how-congress-members-retirement-package-compares-yours-1C8823621

Will your long-term care insurance premium go up again?

The cost of a typical U.S. individual long-term care insurance (LTCI) policy increased 20 percent between 2012 and 2013. It increased 16% in 2012. Insurers' LTCI rates vary widely, according to one observer. "For a 55-year-old single policy applicant, the highest-priced policy cost 87 percent more than the comparable lowest-priced policy." There are big variations in benefits also. The insurer may be out of business by the time you need it. Compare alternatives before you commit:  

http://www.amazon.com/Long-term-Care-Insurance-Updated-2013/dp/148274001X/

States profiting from our money

Some states are making money from our rightful assets. Even if you try to claim the assets, they may have been sold and are gone.  In one case, a person bought Apple stock in the 1980s from a broker. The broker must turn them over to the state after a certain time. The state sold the shares for pennies and kept the money. The $20,000 in stock is gone. There is no standard rule when brokers, bankers, other fiduciaries give up our money to the state. According to the SEC, most states declare stocks abandoned in 5 years. If you are a long-term investor, you are at risk unless you do something. Institutions have their own rules about abandonment. Check your stock’s location today. I got no answer when I asked the SEC what we could do about this. http://money.cnn.com/2013/03/05/pf/unclaimed-money/index.html

CA turns down Blues increase

Insurance Commissioner Dave Jones announced that the 11.7 percent average rate increase imposed by Blue Shield of California Life and Health Insurance Company is unreasonable.

MN tax filers cautioned about TurboTax

Minnesota Department of Revenue has been advising taxpayers not to use Intuit products, including TurboTax, to file your Minnesota taxes in any form, electronically or on paper. According to the Department of Revenue, Intuit has discovered “multiple issues” with their products affecting 2012 Minnesota tax returns. These problems include errors with property tax refunds, education expenses and political contributions. The Department of Revenue advises taxpayers that these issues could “jeopardize the accuracy of your return or delay your refund.” Tax prep sites listed by the IRS charge nothing for the federal filing. States’ returns can cost $10. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

IL wants to cap LTCi rate hikes at 15%??!!!

A bill under consideration in the Illinois legislature would cap long-term care insurance (LTCi) rate hikes at 15 percent annually. An increase of 15% a year would double the annual premium in 5 FIVE years. $2,000 at age 55 would mean $4,000 at age 60 and $8,000 by age 65. There are alternatives:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Kaiser scores top marks from healthy

For the sixth consecutive year, Kaiser Permanente ranked highest in customer satisfaction for health insurance among California policyholders.

Most families overpay for less coverage 

A Survey of 600 independent agents finds most families insured by mass-market carriers remain vulnerable to severe financial loss and overlook discounts. Families often do not carry enough liability coverage in a variety of forms. Too often, their homes and contents are not adequately protected. Meanwhile, these families also overlook many savings opportunities, such as higher deductibles and package discounts. By taking advantage of these savings opportunities and strengthening coverage against severe loss, families can often achievemore effective protection without a significant increase in premiums. Pay less for more protection using discounts and smart choices: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Actual paper stocks and bonds going digital

The trade organization representing hundreds of securities firms, banks and asset managers in the U.S.supports the push for dematerialization. (Mr Spock says that means NO MORE HARD COPY PAPER securities.) Even restricted securities would become entries on a statement. That would be your only proof you own any stock, bond, shares, etc. The change will take years. The required holding time for the destruction of non-transferable securities (bankrupt or insolvent) will be reduced from six to four years. But look what happened to the Apple stock owner above who did not have paper shares.

Why is our wealth going in the wrong direction?

While the median net worth decreased for all age groups, older households lost the most money. Among households headed by someone age 65 or older, median net worth decreased in 2010.  Retired couples were worth a median of $307,728 in 2010. For seniors, most of the net worth is in housing, which they can't eat. $170,128 is the amount the average retiree has to carry them through 30 years of retirement.

How does a parking lot attendant accumulate $500,000 in stocks?

Mr Earl Crawley earns less than $20,000 a year. He has paid off his mortgage and has no debts. He raised a family. He doesn't use stock trading, get-rich-quick schemes or pyramid marketing. He invested small amounts each month, reinvested his dividends and held blue chip stocks like Exxon, Bank America, etc.  http://www.youtube.com/watch?v=XD0svDGyLWU

What can we learn from this guy? 

http://www.kiplinger.com/article/investing/T047-C000-S002-investing-with-nickels-and-dimes.html

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

Regulators stopped a get-rich-quick scheme for a secret “plasma engine” that took $1.4 million from 100 “investors.” Unfortunately doesn’t work. Sounds good, though. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Your Tax Haven

Your Tax Haven

The Best Tax-FREE Account for Working Americans: Better than Mit’s Cayman Island tax shelter

Your total return in 2012 could have been 15.3%, better than Warren Buffett’s “poor” 14.4%. Using your Tax-FREE account, that is equivalent to earning 23.3% because you will never pay taxes—no federal, state, capital gains or dividend taxes. Start yours today for free. 

http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441/

Are prepaid funerals right for you?

"I really don't think prepaid funerals are a good idea." Tom Waggener remembers how pleased his parents were when they told him 15 years ago that they'd prepaid for their own funerals. But after Waggener's mother died in 2006, the funeral home gave his family a bill for more than $10,000. It attributed the extra cost to a special order for the casket she had chosen, which was no longer in stock. There are better alternatives: http://www.amazon.com/Lifestyle-Insurance-refund-build-tax-FREE/dp/1482516411/

Why have health care charges exploded?

It is a tale that defies logic. 

http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killing-us/

Why pay more?

Vanguard keeps lowering its fees. It is now rated the best fund by Morningstar. Other brands have to pay top salaries, marketing and owner’s shares. Vanguard is owned by its own shareholders like a cooperative. Perhaps it is time to move your retirement funds to Vanguard so you can keep more.http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

Get paid for saving?

Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. The saver’s credit can be claimed by:

• Married couples filing jointly with incomes up to $57,500 in 2012 or $59,000 in 2013;
• Heads of Household with incomes up to $43,125 in 2012 or $44,250 in 2013; and
• Married individuals filing separately and singles with incomes up to $28,750 in 2012 or $29,500 in 2013.

http://www.irs.gov/Credits-&-Deductions

Do you still have your taxes prepared by paid preparers?

Answer a few questions online and see how easy it is. Tax prep sites listed by the IRS charge nothing for the federal filing. States’ returns can cost $10. http://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free

NC homeowners see rate hike

North Carolina insurance companies and the top state regulator have agreed that homeowner's insurance policies can rise by a statewide average of 7 percent starting in July.  Time to shop for value:http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Sandy victims still waiting for reimbursement

As of Feb. 28, there were 73,917 flood insurance claims made in New Jersey in connection with Sandy. Four months after the storm, more than 20,000 claims have not been closed. People are living elsewhere or in the cold, some still without money to pay contractors. Banks wait for repair confirmations but contractors wait for payment—Catch 22. Banks profit from victim’s insurance money.

Long-term care coverage sales by GE in California have halted

Genworth Financial GE said it is suspending sales of individual long-term care coverage inCalifornia. Genworth has been requesting rate increases from state regulators on existing policies and said today that it’s working with California’s insurance overseer as it seeks to introduce a new long-term care offering. Alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

States start health exchanges

Michigan, New Hampshire and West Virginia are the final three states to receive conditional federal approval to run state partnership health insurance exchanges under the 2010 health care law.

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

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Save when you invest for college

Where do you invest for college?

About 60% of all financial advisers send clients to direct-sold plans, according to survey results released Feb. 11 by Financial Research Corp. The survey of 293 advisers is the first to quantify how advisers are contributing to an increase in assets flowing into direct-sold plans. Direct plan 529 are commission free. Some have very low investment fees too. Even paid advisors realize you get more for your money when you don’t pay them for advice you don’t need.

Save $20,000 with the right plan: http://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956/

Education Funding: Save up to $20,000 with the right plan

++Most public college students pay less than $10,000.

++Save $20,000 on the cost of private schools.

++Use your Wealth ReserveTM for tax-FREE cash.

++Accumulate $100,000 tax-FREE in 15 years to cover most expenses. 

      Never give up your retirement savings to pay for college. There are no low-cost student loans for retirement. Let a tax-FREE account and the power of compounding help you help your kids pay for their educations. Why not let them provide as much of the cost as they can? After all, they will be the ones that double or triple their lifetime earnings because of this education. And, studies show students get more out of it when they pay for it. Dan Keppel http://www.amazon.com/Education-Funding-Save-right-plan/dp/1482549956/

GE to charge women more for LTCi

Genworth Financial, the largest long-term care insurance company in the United States, will soon implementgender-specific pricing, or charging higher rates for women when applying individually for long-term care insurance coverage. GE plans to start charging women applying for coverage as much as 40% more than men. This reflects the fact that women are paid two out of every three benefit dollars. They live longer and often have no caregivers at home. A few large insurers, including Pru and MetLife have quit selling new policies; others have raised rates dramatically on existing policyholders. There are other reasons families might have to shell out more. "Insurers are eliminating certain discounts, and the underwriting is getting tougher,” one seller said. Consider alternatives before buying—there are no refunds if premiums explode:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Does a traffic ticket always raise your auto premium?

Only 31% of Americans who received a traffic ticket in the past five years are paying more for car insurance as a result, according to new research. Most carriers check young drivers' motor vehicle reports every six months, whereas many carriers do not regularly check older drivers' records. More than one-third of 18- to-29-year olds reported one or more traffic tickets in the past five years, the highest percentage of any age group surveyed. You can go to safety school, ask for legal help, and avoid tickets for 5 years to reduce your points. People who commit several smaller violations are also more likely to face higher car insurance costs. Not all insurers are the same so shop: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Mega Life policy owners to see ‘mega’ rate hike to 47%

About 7,000 Maine customers of Mega Life and Health Insurance will be affected by a rate change set to take effect March 1. While some policyholders will see their health premium costs drop by nearly 33 percent, others will be hit with rate hikes of up to 47 percent, according to Mega's filing with the Maine Bureau of Insurance. The average rate increase across all policyholders amounts to 6.5 percent. Time to shop?http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

Regulator’s delay costs us every month

A recently released independent study estimates that the SEC delay in promulgating a fiduciary standard is costing investors about $1 billion a month in retirement savings.  More information is available here. This paper found investors earned, on average, 1% more per year by buying mutual funds directly instead of through a broker. We don’t need Wall Street salesmen anymore: http://www.amazon.com/Go-Tax-FREE-Investing-Income-Forever/dp/1482633280/

Retirement plan costs going down but still high

The average total plan cost for a small retirement plan (50 participants) declined from 1.47% to 1.46% over the past year, while the average total plan cost for a large retirement plan (1,000 participants) declined from 1.08% to 1.03% over the past year according to the 13th  Edition of the  401k Averages Book. The study shows the small plan average investment expense went from 1.38% to 1.37%, while the large plan average investment expense declined from 1.05% to 1.00%. Since most pension funds pay less than ¼ of 1%, these 401k plans are still too high. Low-cost investments accumulate more for you than high-cost plans. You may be better off to Go TAX-FREE with your own plan free of income taxes forever: http://www.amazon.com/Go-Tax-FREE-Investing-Income-Forever/dp/1482633280/

Convert your 401k to the Tax-FREE Forever Roth 401k

Now you can make a Roth conversion as long as your employer plan has a Roth option (i.e. 401(k) to Roth 401(k)). Consider: 1) In-plan Roth conversions CANNOT be recharacterized (reversed); 2) Do you have the money to pay tax on the conversion; 3) Roth employer plans HAVE required minimum distributions (RMDs) when you retire; 4) You can utilize this provision for longer TAX-FREE growth in a Roth plan. Ask your accountant for help in this decision. Perhaps you can convert a little every year. All of your future nest egg could be FREE of taxes.

Is it time to take your benefits?

The assets in the Social Security trust funds are expected to be exhausted in 2033, according to the Social Security Board of Trustees' annual report. After that, incoming tax revenue will provide enough income to pay out about three-quarters of promised benefits. Check your annual statement:  http://www.ssa.gov/myaccount/

Medicare Advantage plans expand

Nearly 14.6 million people were enrolled in Medicare Advantage plans as of February 2013, 28.5% of the 51.1 million people eligible for Medicare.

Consumer Reports top car brands

Lexus vehicles are rarely sporty, but they earned the top score of 79 points out of 100 because of plush and reliable vehicles, the magazine said Tuesday. Subaru and Mazda were tied for second place with a score of 76. Toyota and Acura, Honda's luxury brand, rounded out the top five tied at 74. Honda and Scion were next at 72, followed by Audi and Nissan's upscale Infiniti brand, both at 70. Mercedes-Benz finished 10th with a score of 69. The ratings of 26 automotive brands, closely watched by consumers, are based on the magazine's average road tests and predicted reliability scores from surveys of subscribers. Detroitautomakers didn't fare very well in the magazine's rankings. Cadillac was the best U.S.-based brand, tying for 14th place with Hyundai, scoring a 63.

OK to arrest any insurer complying with ObamaCare??????????????

Any federal official or corporation employee would be charged with a felony if found to be providing services that comply with the federal Affordable Care Act, according to a bill that won the approval of an Oklahoma legislative committee. http://newsok.com/oklahoma-measure-intended-to-stop-national-health-care-law-advances/article/3759368

NH bans TALKING about ObamaCare exchanges?????????????????

New Hampshire state law bans officials from discussing, planning or enabling a state-based health insurance exchange, but a bill would end the gag order as a first step to exploring the possibly of a state-run electronic marketplace. http://www.nhpr.org/post/nh-lawmakers-weigh-bill-allowing-state-based-health-exchange

AK to let insurers use credit scores for renewal premiums like other states

Insurers would be able to consider someone's credit score when renewing personal insurance policies under a bill in the Alaska Senate. Forty-seven other states allows insurance companies to look at credit history when reviewing a new policy application, but Alaska is the only one that doesn't allow companies to consider that information when a policy is renewed. "In most cases, most consumers have good enough credit that they either are not going to be affected by their credit score, or they're going to pay less for insurance because they're going to represent a better risk than they would if we didn't use it," a trade group said. Gary Strannigan, Liberty Mutual, told the committee that studies show that credit score is an accurate predictor of risk.

Feds to protect seniors on ObamaCare premiums

The Feds are going ahead with new limits on what health insurers can charge older consumers under the Affordable Care Act. Age rating effectively limits how much premiums can vary based on a person’s age, meaning insurers can no longer charge older individuals proportionately higher rates than younger people. ACA caps the ratio at 3 to 1. The provision, along with the brunt of Affordable Care Act law, goes into effect in 2014. The idea is that the young and insured pay more so that older individuals pay less. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

ObamaCare five key provisions are applicable to new health plans only:

•           Guaranteed Availability

Nearly all health insurance companies offering coverage to individuals and employers will be required to sell health insurance policies to all consumers. No one can be denied health insurance because they have or had an illness.

•           Fair Health Insurance Premiums

Health insurance companies offering coverage to individuals and small employers will only be allowed to vary premiums based on age, tobacco use, family size, and geography. Basing premiums on other factors will be illegal. The factors that are no longer permitted in 2014 include health status, past insurance claims, gender, occupation, how long an individual has held a policy, or size of the small employer.

•           Guaranteed Renewability

Health insurance companies will no longer refuse to renew coverage because an individual or an employee has become sick. You may renew your coverage at your option.

•           Single Risk Pool

Health insurance companies will no longer be able to charge higher premiums to higher cost enrollees by moving them into separate risk pools. Insurers are required to maintain a single state-wide risk pool for the individual market and single state-wide risk pool for the small group market.

•           Catastrophic Plans

Young adults and people for whom coverage would otherwise be unaffordable will have access to a catastrophic plan in the individual market. Catastrophic plans generally will have lower premiums, protect against high out-of-pocket costs, and cover recommended preventive services without cost sharing.

These guarantees do NOT apply to your existing plan if it was grandfathered by ACA.http://www.commonwealthfund.org/Blog/Grandfathered-vs-Non-Grandfathered-Plans.aspx

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

Bernie Madoff urged his firm’s bankruptcy trustee and the U.S attorney concerned with the case to go after JPMorgan Chase. Madoff says he had used the account recurrently to funnel funds between his New Yorkand London offices. Bernie Madoff has mentioned on several occasions that JPMorgan Chase knew of the ponzi scheme, but the bank has in the past denied any knowledge of Madoff’s allegations.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Use your tax refund to insure future needs

Lifestyle Insurance: Use your tax refund to build a tax-FREE trust

...Most of us are overpaying for insurance, investments, taxes, etc
...We “waste” our $3,000 tax refund each year.
...We could be building assets to insure our “lifestyle.”
...We could use an IRS §408 trust for tax-FREE income.
...Each $3,000 invested is worth $100,000 eventually
Most of us waste our largest savings amount: our tax refund, average $3,022 a year. Most of us waste more than $3,000 every year on financial products and services. If we invested that $3,000 a year, we could have all the assets we need to protect our families and futures using a tax-FREE trust. Author, Dan Keppelhttp://www.amazon.com/Lifestyle-Insurance-refund-build-tax-FREE/dp/1482516411

Check the real costs and benefits of the colleges you consider

http://www.whitehouse.gov/issues/education/higher-education/college-score-card

Wealthy are better off now, even with taxes

A survey from Northern Trust found that three quarters of millionaires surveyed said they are better off, or as well off, as they were in 2007 - the peak for both wealth and sheer numbers of America's millionaires. Most cited improved investment returns as their reason for feeling better off. Where should you live if you want to be a millionaire?

Try Houston or San Jose. According to the new Metro Wealth Index from Capgemini, San Jose, Calif. andHouston recorded the fastest percentage growth in the number of millionaires among the top 10 Metro areas.

Is your mutual fund really overcharging you 12% per year?

New analysis shows that the real cost of managed funds is close to 12% when you own large stock funds run by a manager charging you 1% per year. This is why: investors should consider fees charged by active managers not as a percentage of total returns but as incremental fees versus risk adjusted incremental   returns above the market index. In other words, if a low-cost index can produce 7% return and your manager earned 8%, you should only pay for the extra 1%. If the manager took $10,000 (1%) on your portfolio of $1 million, and added only $80,000 (8%), you paid 12.5% for the increase--10K/80K. 

http://blogs.cfainstitute.org/investor/2012/06/28/investment-management-fees-are-much-higher-than-you-think/

Time to save 40% of your accumulation over time by going low-cost: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Are you being forced to buy an annuity by your employer?

Time Magazine reports some employer plan sponsors are looking at restricting the lump-sum payouts most 401(k) account holders take from their retirement savings, an attempt to get more people to convert their defined-contribution assets into annuities. The movement is aimed at getting investors to make their retirement funds last longer. Many laid-off workers use their retirement savings for expenses instead of continued savings. There are annuity alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

FL uninsured have hope

Governor Rick Scott's decision to take Obamacare money to expand his state's Medicaid program was unsurprising. Amidst declining political fortunes, he was under intense pressure by local healthcare firms to accept the new cash. Hospitals make money from new patients. 

LTC insurance group opposes IL move to cap rate increases

An insurance group is opposing new legislation under consideration by the Illinois state House that would impose a 15 percent annual cap on premium rate increases on new and existing long-term care insurance regardless of age. Members compare alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Bait and Switch: Health insurers raise the price AFTER you compare to other plans

Eighty percent of U.S. health insurance plans raise premiums above the original quoted price for a portion of their applicants, a health consumer firm says. HealthPocket analysis found on average, plans increased premiums for 18 percent of applicants. However, plans in some states rarely increase premium.Pennsylvania health insurance plans raised premiums for 32 percent of applicants. Premiums are typically the largest out-of-pocket healthcare costs for the average consumer and a major factor in health plan selection.

Companies that increased premiums on applicants most frequently were for-profit Blue Cross Blue Shield companies. Anthem Health Plans in Virginia, part of Anthem Blue Cross Blue Shield, raised premiums for more than two-thirds of applicants. The non-profit Pacific Source Health Plans in Idaho was second highest within this ranking. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Have dispute with your health insurer over reimbursement or care payments?

This foundation can provide assistance in resolving problems. It is dedicated to providing the patient's voice in improving access to, and reimbursement for, high-quality healthcare through regulatory and legislative reform at the state and federal levels. 

http://www.patientadvocate.org/

File your insurer complaint here:

http://www.insurancecomplaint.com/

Insurers fight state laws requiring gun insurance

Insurers are resisting a push by state legislators to mandate that gun owners buy coverage tied to the weapons’ risk, saying such laws may encourage irresponsible behavior. Lawmakers want gun owners to cover the losses from gun accidents. Insurers think that mandating gun insurance will make gun use more likely because owners “will not have their own assets, property or income at stake.”  “I’m really looking at people who are injured as a result of somebody’s negligence in the way that they store a gun or the way that they handle a gun,” Democratic state Representative David Linsky, who proposed the bill in Massachusetts. Insurers should set rates that reflect the types and number of weapons owned by a policyholder and how the guns are stored, he said. Insurers can’t insure intentional acts but could require gun locks and safety training.

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

Senator Warren asks bank regulators about “Too big for trial.”

“Tell me a little bit about the last few times you've taken the biggest financial institutions on Wall Street all the way to a trial," the Massachusetts lawmaker said to applause, speaking to the federal regulators gathered for a hearing on Wall Street reform.

No witnesses spoke up.

Warren raised her eyebrows. "Anybody?" she asked.

Thomas Curry, head of the Office of the Comptroller of the Currency, spoke up: "We've actually had a fair number of consent orders. We do not have to bring people to a trial..."

"I appreciate that you say you don't have to bring them to trial," Warren said. "My question is,when did you bring them to trial?"

"We have not had to do it as a practical matter to achieve our supervisory goals," Curry said.

"I'm really concerned that 'too big to fail' has become 'too big for trial,'" Warren later said.

Insiders made 1700% on Heinz deal—but $1.7 mil “profit” is now frozen

The SEC is alleging that the traders must have known in advance about the pending transaction based on inside information. The traders bought call options to make a huge profit of roughly 1,700 per cent after the acquisition was announced.

Call options let “investors” place a bet on a stock without committing to buy the shares. The insiders have the option to buy the shares later for a set price. The Swiss account hadn't traded securities related to Heinz for nearly six months before purchasing the options, the SEC said in a complaint filed in federal court in New York.

"Irregular and highly suspicious options trading immediately in front of a merger or acquisition announcement is a serious red flag that traders may be improperly acting on confidential nonpublic information," Daniel Hawke, an SEC official, said in a statement. The brokerage account at GoldmanSachs probably handles trading for a number of foreign banks that allow customers to use a trust or other entity that masks the identity of the true owner.

Will we ever collect taxes on this profit?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Overpaying for insurance and investments?

Are you overpaying for insurance and investments?

Your New Financial Checklist:

$Most of us are overpaying for insurance, investments, taxes, etc

$We are confused about what products/services we need to buy.

$Our "advisors" are NOT acting as real fiduciaries. 

$We "waste" $3,000 or more each year. 

$$Overcharges cost us $100,000 eventually$$

    Most of us are wasting more than $3,000 every year. If we invested that $3,000 a year, we could have all the assets we need to protect our families and futures. We even waste our largest savings amount: our tax refund--they average about $3,022 a year. Every year that we overpay for services costs us $100,000 eventually. Our wasted money could be compounding at the highest rates for long-term growth. And most of us do NOT use an account that makes our earnings and withdrawals tax-FREE. 

http://www.amazon.com/Your-New-Financial-Checklist-investments/dp/1482350823/

Investors are going direct—avoiding costly advisors

Fewer investors across all age groups are using traditional advisors as their primary provider of financial guidance, according to research group Cerulli Associates. The decline is most pronounced among Americansyounger than 50. In 2005, 22% of households headed by individuals in their 20s used advisors as their primary advice provider.  By 2011, only 7% did.  The use of advisors also fell among investors in their 30s and 40s, falling from 20% and 27%, respectively, to 9% and 16%. Investors in older age groups also reported using traditional advisors less, particularly seniors over the age of 70. In 2005, 53% of the over-70 set relied primarily on their advisors for financial advice. By 2011, the percentage fell to 40%. Investors flock to low-cost providers to earn more without Wall Street: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Were you recently denied a loan, insurance, job, other purchase?

One in four consumers found an error in a credit report issued by a major agency, according to a government study released Monday. The Federal Trade Commission study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products. The study looked at reports for 1,001 consumers issued by the three major agencies — Equifax, Experian and TransUnion. It is almost impossible to fix their errors. It took one lady 5 years to get them to act. Agencies are not accountable to anyone. Legislation is needed to police the agencies making money from our data: http://www.cbsnews.com/video/watch/?id=50140748n

Track your refund home

If you e-file and request direct deposit, the IRS says it should take no longer than three weeks for you to get your refund. If you filed a paper return and asked that your check be mailed to you, it could take up to eight weeks. Once you're past the time frame for issuance of your refund, it's time to log on and locate your money. http://www.irs.gov/Refunds/Where's-My-Refund-It's-Quick,-Easy,-and-Secure.

Long-term care insurance premium increases ... again

Metropolitan Life wants to raise the cost of LTCI in Connecticut by 58%. MetLife told regulators it wants to raise rates an average of 58 percent on 720 policies sold in the state from 1999 to 2003; 10 policies sold there from 2008 to 2011; 1,828 policies sold there from 2005 to 2012; and 3,200 policies sold there from 2005 to 2012. MetLife is no longer marketing LTCI coverage. Connecticut insurance regulators rejected MetLife's request to increase rates in 2010. Consider alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Sandy victims still waiting for checks from insurers/banks

New York Gov. Andrew Cuomo said his administration is working with banks to release nearly $208 million in insurance payments in 6,600 checks already approved and due to victims of storm Sandy. Much of the delay is because federal mortgage agencies require proof of repair work before paying insurance reimbursements. Many have spent their own money to repair and prove construction completion. Now they wait to receive reimbursement. Some can’t do repairs without checks but can’t get checks without proof of repairs. Perfect ‘catch 22.’ Perhaps self-insurance is answer:  http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870/

Do you need health care insurance?

Six Republican governors have agreed to expand Medicaid, the second-largest piece of President Barack Obama’s U.S. health-care overhaul, accepting federal money to ensure their state’s residents have access to medical coverage. Michigan, Arizona, Nevada, North Dakota and New Mexico have also agreed to participate in the Medicaid expansion. In all 21 states will expand the number of people eligible for the health program.Pennsylvania’s Tom Corbett, a Republican, said this week he wouldn’t participate. In states that accept it, the Medicaid expansion will make the program available starting next year to any American earning as much as a third more than the federal poverty level, or about $31,800 for a family of four. Eligibility for Medicaid varies by state--two Americas. The program is generally closed to adults who don’t have children. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

Take 5-10% off your car insurance premium with 30 min online course

http://lifehacker.com/5981811/take-the-aarp-online-driving-course-for-5-and-save-up-to-15-on-your-car-insurance

What happens if you can’t respond in the hospital?

Less than one in three Americans – 32 percent – have a living will, spelling out whether they want life-sustaining medical care in case they are incapacitated or otherwise unable to communicate their medical treatment preferences. Your local hospital may require their own form so check with them. Make your own will, health directive, etc:  http://www.nolo.com/legal-encyclopedia/living-will-power-attorney-medical-issues-29536.html

CA homeowners see premium cut 12%

State Farm, California's biggest homeowners' insurer, is dropping rates an average of 12.6% for more than 1 million policyholders in the state beginning April 15. Customers are expected to see average annual premiums cut by $100 this year. Rates are expected to fall 12.3% in Los Angeles County, 14.1% in OrangeCounty and 12.4% in San Diego County.

Who will receive your IRA when you pass?

If you haven’t checked lately, now is the time. Your IRA may go to your ex-spouse. Your will does not direct where IRAs, pensions, and other retirement funds go. Wills only deal with minor children, property and trusts. Wills can pass on assets on a “stepped up” basis so heirs avoid your taxes. Common mistakes include putting your kids on your bank accounts and house deeds. Kids lose the benefits of the will. If you want them to control some of your asset, give them a power of attorney and health directive. Find out more athttp://www.nolo.com/legal-encyclopedia or pay your lawyer for an update.

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

22 Republicans who voted against protecting women from beatings!?!
Even GOP hopeful Rubio cited federal mandates on spending decisions that he prefers be left to the states, and a provision that would leave Americans open to prosecution by tribal authorities for crimes against women on Native American reservations. "Looks like he's not a savior to women," former strategist Stephanie Cutter said, according to Politico. "Regardless of what his future may be, this vote will follow him."
Read more: http://www.nydailynews.com/news/politics/rubio-gop-white-house-hopefuls-oppose-violence-women-act-article-1.1263096#ixzz2KoD1iUzj

Ameriprise takes advantage of its own employees; what about you?
Ameriprise employees suing their own firm because their own proprietary mutual funds have underperformed the market and the fact that to even offer them in a 401(k) plan violates the trustee’s fiduciary duties is just classic. Throw in an additional count in the complaint alleging that the firm which administered the plan charged excessive fees and paid “kickbacks" to Ameriprise management. This says it all about Ameriprise. Time to get out.  

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Do you waste your refund?

What do you do with your $3,022 average refund?

Most people spend it and thus 58% of us have little or no pension coverage. Some members started investing $3,000 (inflation-adjusted) a year 30-40 years ago and have hit their goal of a $1 million. Since 1998, we have been able to save and invest for tax-FREE growth and tax-FREE income in retirement. Have you? Perhaps it makes sense for you to start using your refund for your future: http://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157

File state return FREE too

You may be able to file your state return for no cost at the state’s site itself after you do the Fed at an IRS efile FREE site. This requires entering data twice but could save you up to $30. Some sites listed on the IRS site for efiling will file your state return for only $10, so it might be easier to just pay the $10. You can avoid entering data twice and you have one file for tax preparation. See your state requirements: http://www.mymoneyblog.com/

Do you have a bypass trust to avoid estate taxes?

The use of bypass trusts has become largely irrelevant due to the permanent extension of estate tax exclusion portability by the American Taxpayer Relief Act of 2012. Further, since the portability of the estate tax exemption is now permanent, using marital deduction (bypass) trusts can actually have negative consequences from an income tax perspective. Click here to read 'Permanent Portability of the Estate Tax Exemption - Is It Time to Bypass the Bypass Trust for Good?"   

Health insurers reject people before 2014

Health insurers reject 22% of individual and family applications nationwide on average, with much higher rejection rates in some states and some individual insurers rejecting more than 70% of applications, a HealthPocket analysis indicates. "What is unclear is whether some insurers have increased their declination rate in order to improve risk-pool health and profitability prior to 2014," said Kev Coleman of HealthPocket. The Affordable Care Act's provision on pre-existing conditions will become effective on January 1, 2014. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

Would your homeowners insurance cover you if you shot someone in self-defense?
Most standard home and auto policies contain a liability clause that specifically excludes coverage for injuries or damage caused by an intentional act such as firing a gun, even in self-defense. There are some insurers that provide some coverage for a defense but not criminal charges. This is new ground for most insurers. Beware of the risks of liability, even in legalized “packing” states. George Zimmerman has legal costs to defend himself against murder. Plus the civil case has not yet been heard.http://www.bankrate.com/finance/insurance/gun-owners-seek-self-defense-insurance.aspx#ixzz2Jf4Ny87s

Are you paying $128 to $233 to get your tax refund of $3,022 back?

Take last year’s return and try to follow the same pattern doing the return yourself for FREE. Since most people have the same items every year—W2, 1099, etc—you can follow the online questions easily. Try to do it yourself, FREE, using the IRS authorized preparers: http://apps.irs.gov/app/freeFile/jsp/index.jsp?ck  Some of these preparers will efile your state return for just $10 too. Can’t beat the price and our members can vouch for their security.

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

US pays for HALF of all military expenses worldwide

“The United States accounts for about half of global military spending.” Is it time we cut back and let other countries pay their fair share?

Why are we still guarding Germany with 50,000 soldiers?
The military of the United States is deployed in more than 150 countries around the world, with 173,929 of its 1,388,028^[1] active-duty personnel serving outside the United States and its territories. Drones are used to go after the bad guys now. We can't afford both.

How long can we afford this madness? 

ING caught profiting from delaying your 401k plan execution

An ING Groep unit that administers 401(k) retirement plans agreed to pay $5.8 million to settle allegations it didn’t tell clients that it would pocket market gains on trades that were delayed.

ING will pay $5.25 million to about 1,400 retirement savings plans and a penalty of $524,509 to the U.S.government, according to a settlement disclosed today by the Department of Labor.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com