When will you become a millionaire?
>Double your money every 7-9 years over time.
>Grow your wealth with NO taxes or commissions.
>Use 10 low-cost mutual funds earning over 10%.
>Use an IRS-approved tax-FREE
account to protect gains.
“My wealth has come
from a combination of living in America,
some lucky genes, and compound interest.” Warren Buffett
Can you help the next generation?
The average retirement fund of pre-retirees is
about
$60,000, excluding car and home. That might pay for 5 years as a supplement
to Social Security which currently averages $15,000. If parents or grandparents
invested just $50 a month for their newborns for 21 years, and just left it in
a market index fund, the kid would not have to worry about retirement. The
miracle of compounding over TIME is what can be your greatest gift to your
family. Works just like Social Security.
http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105/
How long does it take to get benefits from long-term care
insurance?
Your family members will need to work long hours getting
your care bills paid, according to some who have gone through the process for
months.
Are you happy with your discount broker?
Are you required to take money from your pension, 401k, IRA?
Yes, according to the
IRS:
‘You must take your first required minimum distribution for the year in which
you turn age 70½. However, the first payment can be delayed until April 1 of
the year following the year in which you turn 70½. For all subsequent years,
including the year in which you were paid the first RMD by April 1, you must
take the RMD by December 31 of the year.’ You must pay tax on the earnings part
of your RMD. If you won’t need the money, you can convert any part of an IRA to
a Roth IRA, pay tax, and use it as a tax-FREE legacy to your heirs if you don’t
need the money for long-term care or other medical costs.
http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Aetna health leaving CA
MS uninsured stuck by GOP
Many Mississippians
may have no options when the new federal health insurance marketplace starts
enrolling customers in October. Areas that won't have coverage offered through
the online marketplace include swaths of the Delta region and southwest
Mississippi, plus scattered areas elsewhere. Among those
areas are Hancock and
Pearl
River counties. Republican
Gov. Phil Bryant opposed the state-run plan proposed by the insurance
department.
http://www.sunherald.com/2013/06/20/4749315/insurers-may-skip-health-plans.html
NC OH health
policyholders get refund due to Obamacare
Nearly 193,000 North Carolina customers will get rebates averaging $87 this
summer because their health insurance company could not keep overhead costs
down. Obamacare requires that at least 80 percent of each premium dollar go
toward medical services. The benchmark was established to control the amount
used by the companies to pay for overhead and bonuses. Ohioans will receive
$486,681 this year in rebates. The rebates, issued for the first time last
year, will be divvied up among 6,333 Ohio residents and come out to an average of $133
per family. This year, $500 million in rebates will affect 8.5 million
consumers nationally, according to HHS, with an average rebate of about $100
per family.
CA patients receive
settlement after denial of health care
Anthem-WellPoint has
agreed to pay $6 million to resolve allegations that the company improperly
dropped policyholders after they got sick and needed treatment. Anthem had been
dropping patients since 2006 after they got sick. Anthem claimed their
already-accepted applications had errors. Obamacare made this practice illegal.
CA pension fund
switches to index funds
Lower cost and higher
acceptance by participants were cited by trustees. The plans' custom target
date funds also will be switched to passive management. Fees for the funds will
drop to 6 basis points (.06), from 52, because of the change. Public employees
will have up to 40% more cash in retirement because of the change. You can too:
http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072
CA auto rates down
Californians spent less per year on auto insurance in 2010
than they did in 1989, a rate reduction that no other state in the nation
achieved.
California drivers
paid an average of $746 per year for auto insurance coverage in 2010,
which is $2.00 less per year than they spent in 1989. Americans
nationwide spent an average $791 in 2010, which
is $240 more than the average price in 1989. "Name another
product whose price is less today than twenty-five years ago," said Harvey
Rosenfield, author of Proposition 103. It required insurance companies to
open their books and publicly prove they need rate increases. Until your state
gets tough, shop and save:
http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
MetLife caught avoiding tax
Metropolitan Life is on the hook for a $2.2 million tax
penalty imposed by a 2003 amnesty program. A court ruled that the phrase
"all taxes due" in the amnesty act means just that: taxes due. It has
only taken 13 years and $ millions to catch them.
SCAMS "Good
people do not need laws to tell them to act responsibly, while bad people will
find a way around the laws." - Plato (427-347 B.C.)
Can justice be done in the mortgage scam that banks profited
from?
Investors in mortgages packaged by banks were scammed by
deceit. Who should pay if the investors were part of the scam or should have
known better? Will there ever be justice for all Americans who were innocent
victims? Can regulators ever regulate?
GOP repeals Obamacare again 37th time
We are paying these people (half are millionaires) to meet
and vote on the only chance we non-millionaires have of receiving health care
we can afford in the future. Do any of them consider what other countries do
for their people? Is it really so bad in
Sweden
or
Switzerland?
Not as bad as GOP says it is. Perhaps because Congress is covered already.
http://www.nytimes.com/2013/06/16/business/what-sweden-can-tell-us-about-obamacare.html
Fed pays $½ million to avoid probe
Fed regulators paid $580,000 (tax dollars) to settle claims
by a former employee who says he was fired in an effort to quash his
investigations. Employee Weber reported allegations of unethical conduct by
recently departed Inspector General H. David Kotz. David Williams, the
inspector general of the U.S. Postal Service, concluded that Kotz violated
ethics rules by overseeing probes that involved people with whom he had personal
relationships. Kotz had quit in January 2012 amid questions about his conduct.
Smoke or Fire? $½ million sounds like a big fire.
Crop Ins: “Fraud is everywhere.”
Wealthy Congressmen want to cut benefits to the poor and
give them to conglomerates
Who owns your account now?
GMAC Insurance changes name to National General Insurance. Coverage
or claims of existing policyholders will not be affected in any way.
American Fellowship Mutual Insurance has been declared
insolvent.
IAN
41 Watchung Plaza, B242
Montclair, NJ
07042
973.746.2014
