New year goals—Create a tax-FREE Wealth Reserve
Pensions, 401k and paid health care benefits are decreasing
We are living longer, need income for more years
Health care costs continue to increase
Savings/investment yields may be lower
Annuities and pensions are taxed at higher income tax rates
Social Security and Medicare under attack by GOP
Volatile market requires global diversification
Fees and commissions can take 40% of earnings
Long-term care needs are unpredictable
Grandchildren need financial assistance to make it
Tax-FREE Wealth Reserve is lifestyle insurance:
amazon.com/Forget-Social-Security-Medicare-Lifestyle/
Mentally ill flood ER as states cut services
Just as GOP candidate Ron Paul suggested, if people don’t have insurance, too bad. They should have thought of that before they got sick, he said. Personal responsibility is the theme of Tea Party. In the debates, Paul suggested that the charity hospitals used to treat the indigent. We all have to pick up the cost unless the 1% want to make contributions and get their names on the hospital wings. Last time I went to hospital, a local robber baron had his name-plaque on the wall of a tiny exam room in the nurses triage station. http://news.yahoo.com/mentally-ill-flood-er-states-cut-services-131133880.html
Tax savings
Business mileage went to 55.5 cents/mile after July 1, 2011 up from 51 cents before June 30. Exemption rose to $3,700 each. Roth IRA conversions allow 2 years to pay tax on the gains—2011 and 2012. Only armed forces can claim 1st time home buyer credit. Health coverage tax credit extended. Making work pay credit expired. Efile for faster refunds. Average refund last year: $3,036.
Use your refund to fund your Wealth Reserve, it may be worth $300,000 by the time you retire in a tax-FREE account. Wealth: at Amazon.
Congress to cut Medicare doctor pay—time to shop for another doc?
According to a 2010 survey by the AMA, about one in five physicians overall, and nearly one-third of primary care physicians say they are already being forced to limit the number of Medicare patients in their practice due to the ongoing threat of cuts and inadequate Medicare rates.
Sandusky’s insurer won’t pay his legal bills for rape charges
Pennsylvania courts have found insurers shouldn't be expected to provide coverage for someone who has been found to have sexually abused a minor.
OH Gov signs law that violates OH own constitution
Ohio Governor John Kasich on Wednesday signed a law that would prohibit abortion coverage from the state insurance exchange Ohio must create under the federal health care law. The law bans Ohio citizens from being able to purchase insurance through the exchange that includes abortion coverage, even if they pay for it with their own money, said Kellie Copeland, executive director of NARAL Pro-Choice Ohio, who criticized the bill. "It is appalling that Governor Kasich signed this bill, which clearly violates the Ohio Constitution, into law," said Copeland.
SCAMS
GOP future looks grim—Candidates want to:
Reduce Social Security and Medicare benefits
Continue global warming
End EPA protection of water, air, chemical spills, oil spills
Reduce voting access for minorities, union rights
Control our choice of having birth control
End regulation of bad food, bad marketing, bad financial products
Increase business freedom to sway elections with money
Bomb Iran and other countries
Continue drop of middle income in favor of wealthy
Let people die if they can't afford health care
Who Owns Your Account Now?
MetLife bank to GE
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, December 30, 2011
Friday, December 23, 2011
Give your teen a financial chance
Great gift idea for your young person
In a few short chapters your favorite teen can gain insight to the world of money. No school has this course YET. All their contributions (with your help) go toward their future financial foundation. They will have enough for their needs without TAXES, FEES, and COMMISSIONS. Set up the account in 1 hour online and manage it only once a year. “So simple yet so powerful a strategy, anyone can.” ABCs of Building Wealth
amazon.com/ABCs-Building-Wealth-guide-accumulating/
Small business helped by Obama-inspired health insurance exchanges
A vast majority of New York State's small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat. The federal Affordable Care Act of 2010 requires states to create their own exchanges to give small businesses access to affordable health care coverage or be included in a federal exchange. "We believe that health insurance exchanges have the potential to stimulate economic development throughout New York State,” one observer said.
Would you send your son/daughter to a place where rape covered up for years?
Paterno said he did not inform police and waited at least a day to inform his boss, athletic director Tim Curley, because he "didn't want to interfere with their weekends."
McQueary testifying that he personally saw Sandusky with his arms wrapped around a boy's waist in a shower, and believed (although he was not 100 percent certain) that the boy was being sodomized. He immediately called his father, and they decided he should go to Paterno the next day.
The AG's office wrote that "there is no indication that anyone from the university ever attempted to learn the identity of the child who was sexually assaulted on their campus or made any follow-up effort to obtain more information," and "there was no effective change in Sandusky's status with the school and no limits on his access to the campus."
The allegations subsequently came across as "not that serious" to Curley, and that it seemed to amount to a case of "he said, she said." Who is the she here?
Sandusky had been implicated as a possible sex offender as early as 1998, when university police were involved in an investigation following "allegations of sexually inappropriate behavior involving Sandusky and young boys in the football showers."
Where are the adults here?
Advisors pushing annuities—commission up to 17% BEWARE
More and more financial advisers are recommending stock market-linked variable annuities as part of retirement planning but one of advisers' biggest objections remains the cost of these retirement savings and income products. Bank sales up 11%! Guarantees sound attractive but small print can kill. Read our Guide FIRST: amazon.com/Not-Buy-That-Annuity-Guaranteed/
TX homeowners may not get refunds after all
State Farm Lloyds, the largest writer, has asked a Texas appeals court to reconsider an order requiring the company to refund about $350 million to consumers in the Lone Star State. Regulators had ordered the refunds because of overcharging from 2003-8. Earlier this month, State Farm Lloyds was allowed to raise deductibles for homeowners' policies in the state to 1% of the insured homes value. State Insurance Commissioner Eleanor Kitzman also approved a request by the company to raise homeowners' rates by an average of 10%.
WA drivers get refund
Geico has been ordered to refund $7.5 million by the end of the year after overcharging its Washington state customers. Geico claims it was caused by a computer glitch. Drivers will receive $300 on average.
Retirees don’t agree on working longer so plans get sidetracked
Almost half of couples — 47 percent — nearing retirement don’t agree on whether or not they’ll keep working, according to a new study.
MI health insurance buyers get rebate for overcharges
An estimated 340,000 Michigan consumers who buy their own health insurance could get as much as $89 million in rebates over the next three years following a ruling Monday by federal health regulators that turned down the state's request to be exempted from new health reform requirements.
Starting in January, insurance companies selling individual plans must spend at least 80 cents of every dollar collected from monthly premiums on medical care and no more than 20 cents on salaries and administrative costs. "Today's decision is a significant defeat for the insurance lobby and one that will allow our state's consumers to rightfully keep... their hard-earned money," said Don Hazaert, director of Michigan Consumers for Healthcare.
Do not be tricked by Wall Street ad men—Hot mutual funds deliver profit to manager NOT to investors
Most objective studies of investing style prove that chasing the hottest mutual fund over and over is a loser’s game. Note the record of top stock picker, Bill Miller at Legg Mason. Miller beat the market from 1991 to 2005 on paper. However, when real investor returns are analyzed, they earned less than a market index. Today’s winner is tomorrow’s loser. Buying and selling does not beat buy and hold over the long term. Bill Miller will retire with a TON of money—1.77% of $2.7B=$47,700,000 in just the last year—but his clents earned just 7.96%. Vanguard’s 500 Index earned 11.41%. http://finance.fortune.cnn.com/2011/12/07/bill-miller-legg-mason-returns/
Smart investors don’t fall for Wall Street’s sucker bet. amazon.com/Wealth-Without-Wall-Street-Commissions/
Small business write-off 35% of worker health care costs!
If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit of up to 35 percent of the premiums paid. An employer with fewer than 25 full-time employees who pays an average wage of less than $50,000 a year may qualify. For more information see the Small Business Health Care Tax Credit page on IRS.gov.
For more 2011 tax credits, see Publication 17 online: http://www.irs.gov/pub/irs-pdf/p17.pdf
A.M. Best Downgrades Ratings of Alfa Insurance Group and Alfa Life Insurance
SCAMS
Washington Mutual CEO wrecked the bank and got paid well. NO ACCOUNTABILITY
Largest bank failure and the officers don’t even have to pay the fine! The bank they destroyed paid for the insurance policy that paid the Feds. Actually all of us pay since insurers only raise rates to make up what they paid out. The fines are a pittance when set against the $88 million in compensation that CEO Killinger received from the bank from 2001 to 2007. Regulators will probably not prosecute the execs because they don’t have the b___s for it. Just like Countrywide and IndyMac.
LESSON: Execs are free to steal in America today.
Our “representatives” give away $ Billions to each other and friends every year. In fact, Senator Coburn (R-OK) has issued a new report, Wastebook, about giving money to China, Chimp feces study, and that “bridge to nowhere” they continue to fund. http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365
Welfare for millionaires is explaned in this study:
http://www.coburn.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=f50198ef-6e15-4847-ab95-1b2bb57278c4
We now have over 150,000 mercenaries/contractors in Iraq and Afghanistan. http://www.fas.org/sgp/crs/natsec/R40764.pdf
No wonder the deficit grows every day and we can’t stop it.
Feds sue Fannie and Freddie execs—and there’s NO chance they will go to jail!
Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis. Of course, we pay for the executives legal bills even though they cleaned out the bank on leaving—$10.6 million to Mudd and $18.3 million to Syron. Plus they paid Newt $1.6 million to help Congress “turn the other way.”
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
In a few short chapters your favorite teen can gain insight to the world of money. No school has this course YET. All their contributions (with your help) go toward their future financial foundation. They will have enough for their needs without TAXES, FEES, and COMMISSIONS. Set up the account in 1 hour online and manage it only once a year. “So simple yet so powerful a strategy, anyone can.” ABCs of Building Wealth
amazon.com/ABCs-Building-Wealth-guide-accumulating/
Small business helped by Obama-inspired health insurance exchanges
A vast majority of New York State's small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat. The federal Affordable Care Act of 2010 requires states to create their own exchanges to give small businesses access to affordable health care coverage or be included in a federal exchange. "We believe that health insurance exchanges have the potential to stimulate economic development throughout New York State,” one observer said.
Would you send your son/daughter to a place where rape covered up for years?
Paterno said he did not inform police and waited at least a day to inform his boss, athletic director Tim Curley, because he "didn't want to interfere with their weekends."
McQueary testifying that he personally saw Sandusky with his arms wrapped around a boy's waist in a shower, and believed (although he was not 100 percent certain) that the boy was being sodomized. He immediately called his father, and they decided he should go to Paterno the next day.
The AG's office wrote that "there is no indication that anyone from the university ever attempted to learn the identity of the child who was sexually assaulted on their campus or made any follow-up effort to obtain more information," and "there was no effective change in Sandusky's status with the school and no limits on his access to the campus."
The allegations subsequently came across as "not that serious" to Curley, and that it seemed to amount to a case of "he said, she said." Who is the she here?
Sandusky had been implicated as a possible sex offender as early as 1998, when university police were involved in an investigation following "allegations of sexually inappropriate behavior involving Sandusky and young boys in the football showers."
Where are the adults here?
Advisors pushing annuities—commission up to 17% BEWARE
More and more financial advisers are recommending stock market-linked variable annuities as part of retirement planning but one of advisers' biggest objections remains the cost of these retirement savings and income products. Bank sales up 11%! Guarantees sound attractive but small print can kill. Read our Guide FIRST: amazon.com/Not-Buy-That-Annuity-Guaranteed/
TX homeowners may not get refunds after all
State Farm Lloyds, the largest writer, has asked a Texas appeals court to reconsider an order requiring the company to refund about $350 million to consumers in the Lone Star State. Regulators had ordered the refunds because of overcharging from 2003-8. Earlier this month, State Farm Lloyds was allowed to raise deductibles for homeowners' policies in the state to 1% of the insured homes value. State Insurance Commissioner Eleanor Kitzman also approved a request by the company to raise homeowners' rates by an average of 10%.
WA drivers get refund
Geico has been ordered to refund $7.5 million by the end of the year after overcharging its Washington state customers. Geico claims it was caused by a computer glitch. Drivers will receive $300 on average.
Retirees don’t agree on working longer so plans get sidetracked
Almost half of couples — 47 percent — nearing retirement don’t agree on whether or not they’ll keep working, according to a new study.
MI health insurance buyers get rebate for overcharges
An estimated 340,000 Michigan consumers who buy their own health insurance could get as much as $89 million in rebates over the next three years following a ruling Monday by federal health regulators that turned down the state's request to be exempted from new health reform requirements.
Starting in January, insurance companies selling individual plans must spend at least 80 cents of every dollar collected from monthly premiums on medical care and no more than 20 cents on salaries and administrative costs. "Today's decision is a significant defeat for the insurance lobby and one that will allow our state's consumers to rightfully keep... their hard-earned money," said Don Hazaert, director of Michigan Consumers for Healthcare.
Do not be tricked by Wall Street ad men—Hot mutual funds deliver profit to manager NOT to investors
Most objective studies of investing style prove that chasing the hottest mutual fund over and over is a loser’s game. Note the record of top stock picker, Bill Miller at Legg Mason. Miller beat the market from 1991 to 2005 on paper. However, when real investor returns are analyzed, they earned less than a market index. Today’s winner is tomorrow’s loser. Buying and selling does not beat buy and hold over the long term. Bill Miller will retire with a TON of money—1.77% of $2.7B=$47,700,000 in just the last year—but his clents earned just 7.96%. Vanguard’s 500 Index earned 11.41%. http://finance.fortune.cnn.com/2011/12/07/bill-miller-legg-mason-returns/
Smart investors don’t fall for Wall Street’s sucker bet. amazon.com/Wealth-Without-Wall-Street-Commissions/
Small business write-off 35% of worker health care costs!
If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit of up to 35 percent of the premiums paid. An employer with fewer than 25 full-time employees who pays an average wage of less than $50,000 a year may qualify. For more information see the Small Business Health Care Tax Credit page on IRS.gov.
For more 2011 tax credits, see Publication 17 online: http://www.irs.gov/pub/irs-pdf/p17.pdf
A.M. Best Downgrades Ratings of Alfa Insurance Group and Alfa Life Insurance
SCAMS
Washington Mutual CEO wrecked the bank and got paid well. NO ACCOUNTABILITY
Largest bank failure and the officers don’t even have to pay the fine! The bank they destroyed paid for the insurance policy that paid the Feds. Actually all of us pay since insurers only raise rates to make up what they paid out. The fines are a pittance when set against the $88 million in compensation that CEO Killinger received from the bank from 2001 to 2007. Regulators will probably not prosecute the execs because they don’t have the b___s for it. Just like Countrywide and IndyMac.
LESSON: Execs are free to steal in America today.
Our “representatives” give away $ Billions to each other and friends every year. In fact, Senator Coburn (R-OK) has issued a new report, Wastebook, about giving money to China, Chimp feces study, and that “bridge to nowhere” they continue to fund. http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365
Welfare for millionaires is explaned in this study:
http://www.coburn.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=f50198ef-6e15-4847-ab95-1b2bb57278c4
We now have over 150,000 mercenaries/contractors in Iraq and Afghanistan. http://www.fas.org/sgp/crs/natsec/R40764.pdf
No wonder the deficit grows every day and we can’t stop it.
Feds sue Fannie and Freddie execs—and there’s NO chance they will go to jail!
Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis. Of course, we pay for the executives legal bills even though they cleaned out the bank on leaving—$10.6 million to Mudd and $18.3 million to Syron. Plus they paid Newt $1.6 million to help Congress “turn the other way.”
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
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