Banks caught helping tax evaders want bailout
Swiss banks seeking to avoid U.S.
prosecution by disclosing how
they helped Americans evade taxes have asked the Justice Department to back
off a dozen demands.
Working Americans don’t need a Swiss tax shelter: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520
Do you receive tax credits for your “donations”?
There have been reports that companies donating to the
Republican Governors Association were more likely to get incentives from New
Jersey , whose governor, Chris Christie chairs the
association. Lockheed Martin reportedly donated $50,000 to the association and then
applied for $100 million in tax
credits over 10 years in return for expanding in Camden .
Why is Christie holding 80% of
the Sandy recovery money?
Make your retirement income tax-FREE too: http://www.amazon.com/Tax-FREE-Retirement-lifetime-income/dp/1475206976
Is this a good time to invest?
I get this question all the time. Who knows? NO ONE. If you
listen to media commentators who are paid to tell your fortune, you might get
greedy or scared. Fear of stock market activity keeps many from investing for
retirement. Don’t listen to them. They are paid to talk but no one can foretell
the future. If we can’t know the future, consider your wealth-building alternatives—bank
CD? If you need $40,000 a year in retirement, how can you get it? Advisors can
take up to 63%
of your long-term accumulation so don’t bother them. Your low-cost plan at work may provide an
easy way to invest automatically. Fidelity found that their 401k accounts
reached $1 million (provides $40K a year for life) by investing for 30 years in
low-cost mutual funds. Same with low-cost
target date funds. We can’t control the market but we can control costs.
There is no “best” time to invest. Making equal
contributions to low-cost funds is the only way to be successful, according to Unbiased
(already) millionaires: http://www.amazon.com/The-Best-Predictor-Investment-Success/dp/1502524082
Do you really need an advisor/broker?
A recent survey found that 36 percent of investors with
under $1 million don’t believe an advisor would represent their best interests,
and 31 percent said they don’t have enough assets to interest an advisor. Also,
28 percent said they could do a better job than a paid advisor, 27 percent said
they could not afford an advisor, 15 percent said they didn’t know who to turn
to for an advisor, and 9 percent said they get help from friends and family.
Advisors/brokers are not necessary anymore. Trading is
gambling, not investing. Buy 10 low-cost mutual funds for the rest of your life
and earn over 10% a year: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
Employers sued for charging high fees
It’s getting easier for retirement plan participants to win
fee suits, says a senior advisor for the American Society of Pension
Professionals & Actuaries. They are having more success because their
lawyers are arguing more effectively in court by making a point of showing what
fiduciaries should have done but didn’t do, said Ilene Ferenczy, ASPPA.
Participants are also faring better because their attorneys more often are demonstrating how trustees are costing them money by allowing excessive fees, Ferenczy added.
Participants are also faring better because their attorneys more often are demonstrating how trustees are costing them money by allowing excessive fees, Ferenczy added.
"In every single time period and data point
tested, low-cost funds beat high-cost funds."
Check your employer plan for costs at http://www.brightscope.com/ratings/G/
Do your own low-cost tax-FREE plan: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
GOP crazies
Joni Ernst is running in IA and says she will make Congress
squeal when she gets there. She also said she will shoot
anyone with her 9mm (including the government) who tries to take away her
rights. She might be inciting armed rebellion against the US
or warning police that she will shoot if they come to arrest her for a crime.
Is she against rule of law?
Her advert says she likes to kill pigs.
Will she cut pork (subsidies) from IA farmers as well as
their health care?
KOCH Bros have spend $290 million to buy midterms for GOP so
far.
GOP crazies
Turns out that most
GOP do believe in climate change by man. They just can’t say it in public
because they fear the TEAs. In fact, House Republicans passed an amendment to
the annual National Defense Authorization Act forbidding the Defense Department
from spending money on any climate-related initiatives, including planning programs.
However, quietly, GOP-led Pentagon has been training for climate change since
2010 because they NEED to be ready. A new report should
be read by every GOP voter just so they know the facts, not the TEA’s version.
Sarah
Palin hopes to run for office again some day. GOP excited?
DEM crazies
Obama faces new Senate, the TEAs, Ebola, ISIS ,
Syria , drones,
immigration, Ukraine , etc. Can
any other problem be handled?
What is his legacy?
Sam’s Club Launches
Health Insurance Exchange for Members
Aetna Marketplace for Sam’s Club is the first mass
retail-supported private healthcare exchange designed to meet the needs of both
small business owners and their employees, according Wal-Mart. It provides
Sam’s Club business members that have two or more employees with exclusive
access to personalized plan tools and resources from Aetna .
Pool of small business may save money. But buy only what you
need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Lexus most reliable vehicle, again
Consumer Reports has just released this year's ratings of
the most
and least reliable new cars and carmakers. Mazda, Honda and Subaru joined Toyota
in the top ten. Audi was the highest scoring non-Japanese brand, while Buick
was the only domestic brand in the top ten. The recently merged Fiat Chrysler
fared worst in the rankings, with its Dodge, Ram, Jeep and Fiat brands in the
bottom four spots. The new nine-speed transmission in the Jeep Cherokee was
among the company's headaches.
Shop for insurance every 2 years and save: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
ObamaCare after 1 year—more Americans have health care—Kentucky
example
Americans who never had health care now do have health care.
They no longer have to go bankrupt if they seek help. Why
are GOP against a healthier America?
Reenroll on NOV 15: http://marketplace.cms.gov/outreach-and-education/marketplace-application-checklist.pdf
Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Are you supporting your adult child?
“Research shows that Millennials have weathered the most
significant repercussions from the recent economic downturn. While Millennials
are the most educated generation in history, nearly 4 in 10 are unemployed and many more are underemployed,” said Deb
Dupont, associate managing director, LIMRA Secure Retirement Institute.
“Parents of Millennials, even those over the age of 22, are providing
considerable support to their children at a time in their lives when saving
from retirement should be a priority.”
The study also found that 57 percent of U.S.
households with adult children have at least one adult child living at home.
Nearly three quarters of households with adult children ages 18-22 have at
least one adult child residing in their home.
Leah learned to live with friends: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408
Makes a great present too.
Is a child or grandchild trust right for you?
If you feel they can’t handle your entire legacy after you
are gone, you can have a relative AND trustee firm invest and release the money
according to your wish and their joint judgment. Low-cost mutual funds will
make your money go farther—release for college, age 25, 30, etc. Most mutual
fund firms can provide the trustee services for small annual fees (0.75%). Have
an accountant or lawyer write the trust. Make transfers part of your plan: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Small Business Health Options Program launched in five
states.
The business health exchanges will open in Delaware ,
Illinois , New
Jersey , Ohio
and Missouri in late
October. Small employers will be able to use Healthcare.gov to do such things
as establish a profile, assign an agent or broker to their account, complete an
employer eligibility application, and browse plans and pricing when they become
available. The states that will not offer employee choice in 2015 are Alabama ,
Alaska , Arizona ,
Delaware , Illinois ,
Kansas , Louisiana ,
Maine , Michigan ,
Montana , New
Hampshire , New Jersey ,
North Carolina , Oklahoma ,
Pennsylvania , South
Carolina , South Dakota
and West Virginia .
AZ school system bans contraception info because 1 parent
objected
Gilbert Public Schools board, which covers at least 38
schools and 39,000 students mostly in Chandler and Mesa, voted 3-2 on Tuesday
night to excise two pages about contraception from "Campbell Biology:
Concepts and Connections." The text now says that abstinence is the only
fail-safe birth control method.
Is it better for the children not to know what happens if they
‘experiment’ with sex?
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 Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay for their own defenses.
Fed tells banks to change bonus behavior
Bankers are given a big check when they make deals that are
bad—even those that could destroy our way of life. (Bankers can afford to move
offshore.) Regulators want banks to paying fat checks over time. Banks
need to have the bankers themselves pay for the damage—losses and fines.
GREAT IDEA! Gee, I wish I had thought of that!?
In fact, every broker/advisor/agent should follow same regs.
Court makes suing corps for bad behavior even more difficult
Shareholders used to have the ultimate control over their
corp behavior. Violations could be redressed by suing officers. But now the corp
home court has quashed that “checks and balances” strategy. Hoping to
achieve greater accountability wronged investors have filed many cases against
top corporate officials, accusing them of breaching fiduciary duties and of
other misdeeds. But even this enforcement mechanism is under attack, thanks to
a recent decision by the Delaware Supreme Court.
Noah L. Myers, 43, an investment advisor from Lyme ,
Conn.
Merrill Lynch was fined for allowing short-sellers to dump
stocks without making sure they had first arranged to borrow the shares.
Who owns your account now?
Southpac Life Insurance to Advantage Insurance Holdings Ltd.
IAN
41 Watchung Plaza, B242
973.746.2014
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