Rule for brokers to “do the right thing for the customer”
put on hold …again
DOL and SEC
likely will delay any moves until after Nov. vote. Lobbyists have been working
on the delay for two years. Obama won’t push the “fiduciary” rules until after
the election. We will have to wait to obtain this protection against the
industry taking advantage of us—pushing bad and expensive products—with no full
disclosure. Members assume there is no unbiased advice and buy direct for less: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
Three investors
beat up their advisor for losing $3.6 billion—investors, not advisor, sent to
jail
Three German
senior citizens were convicted last week of kidnapping and brutally beating
their financial adviser. The unhappy trio, who range in age from 61 to 80,
bound and gagged the adviser, James Amburn, broke two of his ribs, then tossed
him in the trunk of a car for a 300-mile drive to a lakeside house. There, he
was imprisoned in the basement. The three abductors were upset because the
adviser lost $3.6 billion of their money on investments in Kuwait and Florida
real estate. The trio forced Mr. Amburn, 58, to sign papers stating he would
get them their money back. He faxed a note to SWAT who freed him. The
investors, not the advisor, got 15 years.
Housing has
become the new Gold
House hunters are
flocking to foreclosures. Low mortgage and low price can’t be beat!
Gold value
dropping like lead during Ero crisis
It fell 6% in May
alone. For many investors, this commodity was the refuge they dreamed about. It
was considered the “safe” investment. It was nirvanna for GOP conservative Ron
Paul. However, commodities do not hold their value over time. Like real estate,
they go through bubble phases. How can you invest for the future in an
unsettled world? Hang on! Money is pouring into index funds. There is the No
Sweat Way: http://www.amazon.com/No-Sweat-Investing-your-money/dp/1469961687/
by Insider, Law Steeple.
401(k) fees could reduce the average nest egg by 30%, study
says
The average U.S.
You can do something about it now before you lose $155,000. Lower fee plans are available. Use our http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072
Boomers leaving
money to charity not the kids
Leaving a legacy in a bequest was up nearly 19 percent in a
year to almost $23 billion in 2010, according to the nonprofit Charity
Navigator. Baby boomers have especially been interested in establishing a
legacy. Three-fourths recently told pollsters that passing down family values
and life lessons was more important than the monetary amount they're leaving in
an inheritance, according to a recent survey by Allianz Insurance.
"We grew up in a do-good generation -- we were going to
change the world," said Christine "Christy" Lambertus, a Fort
Lauderdale
Is high-deductible health insurance right for you?
More than 13.5 million Americans are covered by Health
Savings Account (HSA)-eligible insurance plans, a more than 18 percent increase
since last year, according to a new census. If you have few health needs, this
may the right plan for you. You buy a comprehensive policy that covers all
major medical needs with a high deductible. This makes the cost reasonable. If
you have surgery, all is covered after the first $3,000 for instance. If you
have to buy insurance, the premium is cheaper than a HMO or PPO. The HSA is an
account that lets you pay for your deductible and small out-of-pocket expenses
with pre-tax income. This means that many self-employed people are going to
pick this option in order to control their health and tax bills better. If you
are offered this plan at work, take the expenses you had last year and compare
to HMO costs. Make sure you can see specialists, your own doctor and hospital.
Use our Guide to help you compare:
ObamaCare benefits cited by Washington
State
Reform would extend Medicaid coverage to 328,000 of the
state's uninsured and give premium subsidies to another 477,400. Those who
don’t have care would be able to use the state’s exchange to buy it. The Plan
is not perfect but is better than the current lack of insurance for 74% of
state’s uninsured residents. Three old white guys will decide to reverse the
law of the land this month. Many pray.
SCAMS “Only
the little people pay taxes.” Leona Helmsley
35,000 wealthy
households paid NO taxes in 2009, says IRS this week
"Under Obama's plan, these people would almost
certainly pay more. Under Romney's, they will almost certainly pay less." Percentage of high earners avoiding
taxation on the rise; tax-exempt interest from muni bonds and charity are the main
drivers. http://www.irs.gov/newsroom/article/0,,id=257605,00.html
Wellfare for
Rich: Farm bill gives payments to corp as soon as they claim revenue down
Agribusiness can
start collecting as soon as their accountants can show a revenue drop. Corp
will no longer have any risk of too much crop that lowers prices. The
supply-demand market will not work. Prices will be supported. We will pay them
more in subsidies as prices of bread etc fall. Deficits will rise. Senate takes
up bill.
US Corp CEOs hit jackpot—a $10 million average paycheck:
Workers lose 7% and falling
The head of a typical public company made $9.6 million in
2011, according to an analysis by The Associated Press. That was up more than 6
percent from the previous year, and is the second year in a row of increases.
The figure is also the highest since the AP began tracking executive
compensation in 2006. Companies trimmed cash bonuses but handed out more in
stock awards. For shareholder activists who have long decried CEO pay as
exorbitant, that was a victory of sorts? http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1
IAN
41 Watchung Plaza, B242
973.746.2014
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