Snoring is the best way to create wealth

Did you know ‘Snoring’ is the best way to create wealth?
Master investor Warren Buffett told us that holding quality company stocks, NOT actively trading stocks, was the way he adds wealth for his company. Wall Street’s advice is the opposite: buy and sell continuously. Studies show broker recommendations fail. Buffett says: “Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees.... Paradoxically, when ‘dumb’ money acknowledges its limitations, it ceases to be dumb.”
http://www.amazon.com/Snoring-Best-Way-Create-Wealth/dp/1466408928/ref=sr_1_3?s=books&ie=UTF8&qid=1318961268&sr=1-3


Auto rates vary a lot for the same driver. Shopping pays!
For instance, in New Jersey the same two-driver household was charged $3,600 by GE but only $1,400 by Amica, AIG, and USAA. The $2,200 annual difference is worth over $42,000 to you over 10 years when invested. Use our Insiders’ tricks of the trade to save: amazon.com/Insiders-Guides-Discount-Financial-Services/

Health insurance refund?!
Blue Shield of California will return approximately $295 million to its customers and the community by December 31, 2011. In fulfillment of its pledge to limit net income to 2 percent of revenue, Blue Shield's individual and fully insured group customers will each get a 54 percent credit against one month of premium.

Long Term Care insurance coverage uncertain for the future
The long-term care (LTC) insurance market continues to be plagued by adverse claims experience and poor overall results, which has led to rate instability, insurer solvency concerns, and market exits by several major insurers, according to Fitch Ratings in a new report. Members self-insure with their own Wealth Reserve: amazon.com/Your-Retirement-Spending-Plan-enough/


Time to move your untaxed money to Asia?
A Swiss parliamentary commission is edging toward accepting a government proposal that would allow the transfer of bank clients' data to the United States to settle a tax evasion dispute, Swiss news agency SDA reported. Another reason for the OWS protesters to be angry—the 1% don’t pay their fair share! They hide their money in Swiss and Caribbean banks and holding companies. http://www.offshorecompany.com/banking/how-to-start-a-bank

Are you part of the 99%?
To be among the top 1% of income earners, you need an adjusted gross income of $343,927 or more. The 1.4 million Americans with this elite status reported 16.9% of all the country’s taxable income. One percent of taxpayers reported almost 17% of all taxable income. But that same tiny group also kicked in 37% of all the taxes paid. How much do you need to make to be in the top 50% of earners? Just $32,396. Members use their tax-FREE Wealth Reserve to avoid income tax in retirement: amazon.com/Create-Your-Tax-FREE-Financial-System/
Insurers improve quality of plans under new Obama guidelines
Nine Medicare Advantage plans scored top marks on the five-star government rating system for 2012, up from only three plans this year. These plans may you’re you save: http://www.kaiserhealthnews.org/Stories/2011/October/12/insurers-improve-quality-revenue.aspx Kiplinger helps you compare plans: http://kiplinger.com/columns/ask/archive/how-to-compare-medicare-advantage-plans.html


Only 3 in 10 Say They're Prepared for Retirement
A new study says that most families are not prepared for retirement. Most have committed to paying for other things like a child’s education. Most have not adjusted to the new American economy—workers have no guaranteed pension, medial or even 401k matching funds. Many say they will work part-time in retirement. But that assumes there will be jobs and the next generation will not work them. Members are changing their priorities with the New American Retirement System: amazon.com/New-American-Retirement-System-Tax-FREE


Los Angeles decides to stop doing business with 'bad' banks
LA Council members in the nation's second-largest city by population passed a resolution Oct. 12 in support of the demonstrations that started as Occupy Wall Street in New York. It will cost LA millions to switch banks from the ones that have pleaded guilty to fraud. “Many of the banks we're targeting have pleaded guilty to fraud,” Councilman Alarcon said. “There are an ample number of other institutions that acted legally who can do these transactions. The Occupy L.A. movement has put this issue front and center.” Los Angeles in 2008 sued more than 30 institutions it accused of engaging in abuse related to financial derivatives and bid-rigging, administrator Santana said. Council approved a list of banks for LA to do business with earlier.



SCAM
Generals in Afgan war say it will go on for years--$2 Billion and 5 American lives a week! “But what you're saying is that the United States isn't leaving Afghanistan in the foreseeable future?” cbsnews.com/stories/2011/10/16/60minutes/main20120799.shtml
This war has cost $½ Trillion so far. We had a $1.3 trillion budget deficit this year.

GOP against tax hike on foreign insurers too
Two Dems have written legislation that would raise taxes on foreign-based insurance and reinsurance companies operating within the United States. GOP objects, of course.

GOP to cut IRS collections by $4 billion
if Congress follows through on a plan to cut about $500 million from the agency's budget for fiscal 2012, it estimates the revenue loss at $4 billion for this year. Corporate audits are more complicated and require more auditors not less.

Here we go again—using our money to speculate!
Bank of America, hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to the bank subsidiary flush with insured deposits, according to people with direct knowledge of the situation. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting.
The Moody's downgrade spurred some of Merrill's bank partners to ask that contracts be moved to the retail unit, which has a higher credit rating. Transferring derivatives also can help the parent company minimize the collateral it must post on contracts and the potential costs to terminate trades after Moody's decision, said a person familiar with the matter. BOA held almost $75 trillion of derivatives at the end of June, according to data compiled by the OCC. Derivatives have been removed from the books. This allowed Merrill Lynch fee-based revenue to reach record highs this period.
Congress passed the Dodd-Frank to stop this kind of game but the Fed gave BOA an exemption in Sept 2010.


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
Alerts available at http://dankeppel.blogspot.com/