Let Uncle Sam help with your retirement fund

 

Make the New Year better

 

The easy way to create your $ million retirement fund

Some of my readers use this strategy to build their retirement fund. They use their tax refund (average $3,000) to buy the low-cost 500 Index Fund so they can automatically invest without having to write a check every month. The tax refund happens because they are making sure they don’t owe the IRS any money in April. Their employer deducts the standard amount from their check every pay period. They never see the money deducted—they receive their net pay and have to live on that amount. If forced savings is not for you, the alternative is to have your mutual fund deduct $250 a month from your checking account. After 35 years, your $1 million is tax-FREE using a special account.

https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

Is a registered index-linked annuity right for you?

Registered index-linked annuities use index options to provide both upside potential and downside protection. Insurers are replacing traditional variable annuities that offer living benefits with RILA products. “Insurers indicate that they are using the RILA to pivot away from risky guaranteed living benefits,” according to analysts at Cerulli Associates. Insurers are taking less financial risk by cutting the living benefit option. The living benefit is intended to guarantee the benefit provided, and toward that end, it usually offers guaranteed protection of the principal investment and the annuity payments or guarantees a minimum income over a specified period to you and your beneficiary. Usually the guarantees cost you more and many believe the extra cost is not worthwhile. Insurers are eliminating their financial risk of having to pay more due to unforeseen circumstances. Instead they offer the possibility of your account earning more over time. Variable annuities are popular when the fixed rate of traditional annuities is very low. Currently the fixed rate is under 3% so it does not even cover the inflation rate. Because all annuities come with extra fees and cost, you may be better off using a low-cost balanced mutual fund to meet your retirement income needs.

https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

 

Is a tax-FREE retirement fund right for you?

Since 1998, working people have been able to create a legal tax shelter. Every $1 contributed to this IRS-approved account at your favorite financial institution can grow tax FREE and be withdrawn tax FREE. This means that instead of you paying taxes on the money you take out later, you pay ZERO taxes. Because you have no tax liability on this money, your other income like Social Security may not be taxed. With the old pension system, you had to pay tax on the income because your employer paid no taxes as the pension amount grew. Because you had taxable income when you retired, your Social Security was also taxed. Now some of us who have been using the new system for a while pay no income taxes when we take out this money from our accounts. Thus, by investing $250 a month in a low-cost stock index, after about 35 years, your account reaches $1 million. This money is tax-FREE. Your gains—$895,000 ($105,000 in; $1,000,000 out)—are completely tax FREE.

Use your tax shelter: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072/

 

Tax withholding part of your IRA distributions is usually required

The IRS is taking no chances so they require distributions to have taxes taken out before you receive your money. Traditional IRA accounts let us defer taxes during our working years. Now the IRS wants their money. If the distribution is in the form of an annuity or similar payments, amounts are withheld as though each distribution were a payment of wages pursuant to the recipient’s W-4 form. For other kinds of distribution, a flat 10% must be withheld by the plan custodian unless a different withholding is elected by the owner. Even though distributions from a traditional IRA may be partly nontaxable because of nondeductible contributions, all withdrawn amounts must be reported to the IRS. Distributions from Roth IRAs are not subject to income tax withholding in most cases. Most distributions are NOT included in taxable income since we paid tax on the income already and the earnings are Uncle Sam’s tax-FREE gift to us for making a nice nest egg. So it is possible for someone to create a totally tax-FREE retirement.

No offshore account: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

 

Most retirees would like to have a higher SS benefit

However, most folks don’t or can’t wait to age 70 to claim the highest benefit for their years worked. In fact, if they used their 401k or pension money first, they could have earned an extra 8% per year in benefits from age 66 [full retirement age] to age 70. Once they begin benefits, they will not increase the benefits unless they keep working. So if they begin at age 62, the earliest possible, they will receive less for the rest of their life. I had no choice but to begin at age 62 due to layoffs and industry cuts. My wife waited to age 70 and receives about double the amount I receive. She also worked past age 70 and was able to increase the benefits each year she worked because she was still contributing to the SS account. Thus to have a higher benefit for the rest of their lives, most retirees must find other income to postpone taking SS benefits. The alternative is to strengthen your invested asset base to supplement your retirement income. This usually involves taking more risk in the securities markets. Most retirees choose to stop working before age 70 and receive fewer lifetime benefits.

https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

 

Retirees save on property taxes

Some states like NJ have a program to help retirees with lower income. Some states offer to property tax relief. FL has homestead exemption. NJ offers a Property Tax Reimbursement Program, also known as the "senior freeze," which reimburses eligible senior citizens for property tax increases. If you qualify, your property tax increases after age 65 are refunded. NJ also has a Homestead Benefit program which provides property tax relief to eligible homeowners. For most homeowners, the benefit is distributed to the municipality in the form of a credit, which reduces your property taxes. This high tax state provides Property Tax Deduction for veterans, seniors and disabled residents. Most retirees do not itemize since the property tax deduction was limited in 2017. Some retirees with high property taxes have found other means of offsetting their high property tax burden.

Use all your tax credits: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

 

‘Democracy’ à la Dark Money

 

“Follow the money” elections

 

Sedition: Fake Trump Elector Criminals

 

Trump: “I’ll pardon” seditionists: ‘stuff of dictators’

 

Trump’s ripped up sedition-plot papers

 

 

UN-United States; 2 Americas

 

New GOP rules: Some voters wait 10 hours

 

 

 

How Govt wastes our money:

Judge stops Big Oil from drilling for Gulf oil/gas: court fight not over: oil profits up 

Biden moves to war stance in Europe: Putin scared or challenged: Freedom fighters

9 TN cops blast mental man off side of road: Taser not used: use tranquilizer gun?

 

70,000 US troops in Europe: Biden starts with 8,500 moved to Putin’s border

Manchin decided the domestic legislative agenda is “dead”: GOP rules

Taxpayers (our Fed bank) bailed out biz in pandemic: $25 million bonuses Wall Street

 

Bezos deducts his costs: moving bridge to get his ship out of builder’s dock

Workers stuck with $30 Trillion debt: IRS can’t even collect taxes owed by rich

 

SCAMS/SPINS:

“I would rather die” without new kidney than get Covid vaxx: totally brainwashed!

Truckers 90% vaccinated still stage protest: halt traffic in Ottawa

Putting fake words in celebs’ mouths: easy to lie to convince the convinced 900,000

Hospitalizations 23 times higher among unvaccinated than those who got boosters

 

Sports betting: scam or new tax? AZ workers lost $51 million in one month: desperation?

Foil the granddaughter/son scam: ask for specifics!

Companies that suppress our reviews may be fined: when all reviews are 4 stars: scam?

Is your cereal just salt and sugar? CR blasts them apart

 

Trump raises $122 million to buy next election or pay his legal fees?

 

Jeff Bezos raises Prime price $139 to pay for his 2^nd yacht and move bridge: copter yacht

Paul R McGonigle MA caught stealing retirees annuity accounts:

Empowered Diagnostics tests caught producing a false Covid result: not approved

 

doTerra distributors caught treatment/prevention of COVID: FTC warning; snake oil

SlimFast caught claims weight-loss “clinically proven lose weight/keep it off” no proof

HELLO FRESH’S ’17 FREE MEALS’ caught Not Free: buy 6 months 3 meals: $100s

 

Agora Financial caught claim single month trading penny stocks $39,587: just B.S.

Cold/Flu meds caught claim ‘non-drowsy’: false: ingredient DXM makes sleep

KASHI RIPE STRAWBERRY BREAKFAST BARS caught actually colored apple/pears

 

EMAX tokens caught false celebrity adverts to raise price: ‘pump and dump’ cyber coins

FINRA securities regulator allowed one party to fix list of arbitrators in WellsFargo favor

Annuity agents sue regulator after it requires them to sell ‘best’ product for client not fees

 

Remodeling fantasy: new kitchen $20,000 “in few weeks” takes 5 months $50,000: scam?

Tesla pilot automatically runs through stop signs: no refund on ticket/crash: brakes at 60

CA may allow victims to complain to medical boards re bad doctors: 1^st time in history!

 

Are police liable if they don’t stop their boss from killing arrestee? Nazi defense invalid

A gun as personal protection is a myth; you can never get it out faster than killer has done

 

Rents up 30-40%: finding new space on $15 hour stress—avg $3,000 FL, TX, NY

Coffee, soda, burgers, fries: Cheap date prices up 8-10%: DIY back in style?

 

Cruz “offended” by thought of Black woman as Supreme: race useful for fundraising

GOP: silent assent to Trump’s VP canceling the 2020 election results: silence means OK

 

Jobs

Pay hike 4.7% but price hike 7%: we are left with loss of 2.3%: specialty work OK

Brady quits: retiring after a loss—not in his blood: GOAT fun to watch

Is the ‘Space Force’ real? Airline clerk only seen Carell comedy. Only TV show!

 

Best jobs in 2022: tech— flexible work arrangements and six-figure salaries. 

 

Who owns your account now?

Some insurers can estimate/validate auto claim in seconds: get repair started same day

Social Security offices remain closed until at least mid-April: call and fax docs

Win $200 for spending $750: no annual fee: cash back: how can we lose?

 

IRS taxable income: disability income, SS benefits, free trips, canceled debt, tax refunds

File tax return FREE: income to $73,000: IRS too busy to catch mistakes

Clean up your credit report: https://www.annualcreditreport.com/index.action

 

Capital One: best all-around bank for online savings: interest, plus no fees

 

Miracles:

2 year old saves 6 family members from smoke: Covid takes away your smell of smoke

Remain young: wealthy to buy a new lease on life: reprogram to embryonic stem cells

No Surprises Act prevents billing by ‘walk-thru’ doctors: except ambulance fees

 

Tree hits man in car just where the tree did NOT fall on him: gift of life

Trump’s postmaster just delivered birthday card mailed December 23: 30 days late!

A Putin chicken broke into the Pentagon spying for some intel “chicken feed”

 

Cancer lymphocytic leukemia cured by CAR T cell therapy

Great Salt Lake soon with NO water; Olympics with NO snow: snow in Greece Turkey

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

 

 

Where is your old pension and 401k?

Do you know where your former company pension or 401k landed?

I found mine; no thanks to those who were making money from my money. Many people forget they have a pension or life insurance from an old firm. The company may have been purchased or merged or gone bankrupt. If your old firm does not have your current address you will not know where your money lands. Deborah kept looking despite the bad information she was given. Whatever circumstances, there are no standard practices or central registry for your money’s location. Some companies are just not interested in helping you. Pension rights advocates claim employers have an incentive NOT to find missing participants like Deborah. Like MetLife, they may be caught holding the money for life insurance beneficiaries because they make millions from holding our money. I had to fight to obtain my pension from Thomson McKinnon which did a chapter 11 in 1990. Since there is no national registry yet (and may never be), I started at the https://www.dol.gov/agencies/ebsa and the https://www.pbgc.gov/ and went to the bankruptcy filings and lawyers. Finally, online records turned up the fact that John Hancock had it all this time without telling me. And I had not moved. They just didn’t let me know they held my money. You know why.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

When should you NOT convert a regular IRA to Roth IRA?

Ed Slott is the expert on IRA and Roth IRA. He is a fan of Roths because distributions are tax-FREE from fed and state income taxes and there are no mandatory withdrawals like regular IRAs. You can convert an IRA to a Roth, pay the tax and then smile in retirement when there is NO tax to pay. Slott says there times when this conversion makes little sense. For instance, if you can’t pay the tax from other funds or your rate is lower later. His full advice is here https://www.fa-mag.com/news/when-roths-may-not-be-right-39880.html. If you can’t convert, build your Roth IRA while you are working.

Know your IRA required minimum distributions in advance: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

Is your advisor/broker working for you or for the perks?

Under current rules, your advisor can sell you products that are NOT the ‘best’ for you—your money would be taken and you won’t even know it until later. There is no ethical pledge like lawyers or doctors take to do no harm. Trump’s regulator at the SEC makes the rules. He doesn’t ban sales quotas, fee hidding or lavish trips for sales of poor in-house products. Formal disclosures protect the seller and industry; not educate the buyer. When you get taken, you don’t have the right to sue. Unfortunately, you must ask the industry-run arbitrator to decide your case and if you win your odds of collecting are lower than with a court order. Sellers who cheat people are not barred—they just move to a new firm. After the industry killed the Labor Department’s Fiduciary Rule last year, advisors have the green light to take you since they hold all the cards. Even the ‘top broker’ at well-known firms have cheated clients and just moved on to a new firm.

Protect your money BEFORE you act: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

New ways the wealthy avoid taxes that we have to pay for them

The Trump tax breaks did not reduce the amount the well off can deduct from their taxes. The rich get richer. We have to pay for the courts, police, military, roads, airports, etc. the rich use but don’t pay for. We taxpayers help pay for the vacation and rental properties of the rich. Instead of paying their gains tax on the sale of these non-principal residences, Trump and the GOP have made the gains tax-FREE. Any properties they don’t use themselves can even offset any taxable regular income so they may pay less than we would with the same income. So you probably could rent their homes at high rent but they may avoid taxes on that income and the sale of that home when they sell it. Nice!

You can have a Trump tax shelter too: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Are actively-managed funds right for you?

Mutual fund manager costs usually sink their long-term investment returns. Studies of performance over time show that out of the thousands of funds, there will always be some that beat the index fund in the short term. However, over time it is clear that costs kill the returns because of fee compounding. In fact, with expenses of 2% over our working lives of 40-50 years, we will give up 63% of our total potential nest egg. That is a big price to pay for a quick thrill of beating the index in one year. However, for the advertising department of an actively-managed fund group, one year of good returns is worth $ millions of new money for profits over the next 10 years. For those looking for the best-performing actively managed mutual funds, here is the list. But by next year, they will be dogs according to studies on longevity. Low cost beat high cost over time.

For most of your money, go long: https://www.amazon.com/Go-Long-Reach-Wealth-Starting/dp/1519376189

Is America a wealthy-person socialist state already?

Trump’s socialist gift of $12 billion to the lucky few was done without consulting Congress or taxpayers. Farmers are not poor. Most are very wealthy—farmland costs a bundle and many have become tax-FREE corporations. Farmers already have a socialist’s bonanza from us taxpayers. Do you receive a Price Loss Coverage payment when you can’t sell your business products profitably? Farm corps do. Trump shows another way socialism works for the rich. Trump voters don’t mind a short-term tariff war as long as they have their government socialist state payments. Same with his friends in oil, gas, sugar etc who have multiple war chests of subsidies, loans and grants to tide them over from tariffs. Just ask the Congress people who double dip—salary, expenses plus grants, subsidies and kickbacks. It is us poor taxpayers that need the subsidy for tariffs since we are the ones that pay for them. When we shop at Walmart etc we usually buy Chinese. Most of Trump’s new tax breaks go to the already rich. I have documented some of them in this blog. Our lower payroll tax was offset by higher health care costs with the end of ObamaCare. Ranchers no longer pay public land rental fees. Did you receive government money in the 2007-8 recession Your bank got your future money. Your car company got government help when you lost your house. You didn’t. Trump decided to give his friends a cut in their capital-gains tax.

Use your tax shelter: https://www.amazon.com/Americas-Socialism-for-Rich-only-little-people-pay/dp/1535218584

Is a dependable vehicle right for you?
Most people say they need a reliable mode of transport—the average family spends over $9,000 a year. I’m guessing it is so high because they are paying off a new vehicle—popular trucks and SUVs begin at $35,000. Buying a low mileage version of your favorite may just save you $ thousands for other things. If you drive a lot, maybe a Prius at $16,000 is a good bargain. Oil is not going down. A 2015 Highlander can be had for $23,000 or a Sante Fe for $17,000. My favorite is the 2015 Accord for $17,000.

Don’t forget discounts on insurance: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Opioid epidemic was created by drug companies and Washington lets it go on

Doctors are rewarded with trips for getting people hooked. Particularly grotesque is the enthusiasm with which Purdue Pharma peddled its pills, a 10 year veteran reporter writes. “In the first five years OxyContin was on the market, total bonuses for the company’s sales staff grew from $1 million to $40 million. Zealous reps could earn quarterly bonuses as high as $100,000, one former salesperson told reporter Macy, adding, ‘It behooved them to have the pill mills writing high doses.’” To fight withdrawal pain, Oxy users switched to heroin and later fentanyl. Parents of the victims gain support with national networks like this one. 16 states have filed suit against the pharma industry. Drug makers spend more than any lobby so Congress does nothing. Money talks.

https://www.amazon.com/Dopesick-Dealers-Doctors-Company-Addicted-ebook/dp/B078D67JCF

****************

Make America, “The Don”, Great Again

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

Conspiracy against the United States, conspiracy to launder money, conspiracy to receive Emoluments from foreign states, false statements, subverting constitutional tax power, obstructing justice, failure to secure voting systems from attacks, and Foundation self-dealing.

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

Trump mob running Veterans Admin from his golf club

‘Space Force’ $ Trillions gimmick replaces American ‘infrastructure’ rebuild: bridges?

SCAMS/SPINS:

Lobbyists tell Trump’s Commerce which firms will beat tariffs: have you been chosen?

Karl Rove: ‘Tone Down the Rhetoric’: Stalin Used ‘Enemy of the People’ for media too.

1 Global Capital and 1 West Capital caught selling fraudulent loans to investors

Westminster Financial Securities refused to pay arbitrator’s settlement $275K to client

GOP Chris Collins NY caught making money from info we don’t have. Others too.

IRS says 20% tax break only for the chosen few: Trump’s gift that keeps on giving.

When we all have guns for ‘protection,’ who will police shoot first? Safe in your home?

               police shoot owner who already shot intruder. All kids have plastic killer guns?

Jobs:

Our wage buying power is the same as we had in 1974: Milk was 55 cents; now $3.50.

New job search? Check your credit report BEFORE your new employer does.

Who owns your account now?

Trump health plans get booed by state health regulators: misleading, limit payouts!

GM health cover switched to GM HMO cuts costs; limits choice.

Health insurance and drug firms spend $ millions to end single payer health care for all.

GE Genworth long-term care premium up 58%; approved by states

SS benefits could be higher for survivor if timing right.

Beware: When you sign up for Uber they hit your account for $250 or more ‘temporarily’

Samsung 7 is being hacked.

                                                  

Miracle:

First Lady cites good work by person Trump dislikes & envies: She’s brave to talk back?

Kids suing US for making the climate worse.

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Banks get us to pay their fines--no jail time

Corporate “criminals” don’t even have to pay back their ill-gotten gains let alone go to jail

Since 2002, only 6 executives have had to give back their extra pay from legally cooking their own books. The laws are not enforced. If you steal big-time you don’t go to jail and you can keep the money you stole. There is little accountability unless they make a stupid mistake like boasting or sending an email saying “I really screwed shareholders.” It is hard to sue as a shareholder now thanks the Supremes recent decision. Read how JP Morgan did it during the mortgage mess. And we pay part of the $9 billion fine since bank fines are deductible. The criminals just get a bigger bonus!!

Isn’t capitalism great!!

Just don’t steal food when you are hungry: maximum sentence is 20 years.

Soldiers say banks helped Iran give $ billions to enemy to kill fellow soldiers

Barclays Plc, HSBC Holdings Plc and four other banks were accused in a lawsuit by U.S. soldiers of helping Iran process billions of dollars to Hezbollah and other terrorist groups, allowing them to carry out dozens of roadside bombings and other attacks against the U.S. military. Lenders including Standard Chartered Bank, Credit Suisse Group AG and Royal Bank of Scotland NV conspired with Iran and its banks to withhold certain data from transactions, enabling them to circumvent monitoring by U.S. regulators.

Time to move your money to a credit union or USAA that supports soldiers: http://www.culookup.com/default.aspx

Reduce your 2014 tax bill NOW pay less in 2015

To raise deductions, prepay your 2015 property and state income taxes in December, max out contributions to your 401(k) plan and individual retirement account, prepay your January mortgage payment in December and bundle out-of-pocket medical expenses into this year or next. You must fund your 401(k) by Dec. 31 to count as a 2014 deduction, but you can make 2014 contributions to your IRA on April 15, 2015 when you know what you owe. Roth IRAs, which are funded with after-tax dollars, do not provide a tax deduction, but your earnings grow tax-free. You will never pay income tax on earnings ever again. Go for tax-FREE retirement: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

New survey says ObamaCare exchanges are just OK

Respondents expressed confidence in the Obamacare marketplace, with 53% saying they are either very or somewhat confident that the exchanges will operate properly this time around, versus those who are less confident (45%). Furthermore, just over half of participants (52%) report that they had a positive experience with the previous enrollment, compared to respondents having a bad experience (43%). Many Americans are still without health care and not by choice. GOP states have ignored KY success in covering ½ million new users and increasing employment. KY voters love their health care but hate ObamaCare. Go figure?

Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

My premium did NOT go up!!!

My ObamaCare plan with the same doctors, insurer and premium are on the preliminary list for NJ. I have a subsidy of over $200 a month so I can afford the Gold plan with full coverage and max out of pocket I can afford. HealthPocket conducted a study in June 2014 which compared metal plans sold on-exchange with metal plans sold by four major off-exchange insurers. The study examined the lowest available premiums for gold plans in the most populous cities in 39 states, and the results indicated that in 35 out of 39 cities (90%) the gold plan with the lowest premium was found on-exchange.  See yours: https://www.healthcare.gov/see-plans/?

I can continue my doctor visits and meds as I did all this year. It is affordable too.

GOP crazies

Do you ever wonder why GOP hates ObamaCare?

Despite all the false claims about hurting America, conservatives hate spending money on programs that help the poor. Many middle-income and working people have care from their employer at reduced rates already. So we are really talking about another government transfer program like Medicare, Medicaid and Social Security. GOP does not like any of these either. We are talking about human values. Society controls the price of water because all of us need clean water or we will die (like we did before in 1908).

Do we help our fellow Americans or let them die as suggested in the GOP debates?

GOP celebrates with billionaires—Christie in tow—visions of the future?

The midterm election, estimated to be the most expensive ever in the U.S., bolsters Christie’s standing after he helped raise a record $102 million as chairman of the Republican Governors Association. He said on one of five national television appearances yesterday morning that he was working on two hours of sleep and wanted a nap. As one observer said, “Their pockets are getting so full they don’t know where to put their money.” Now they can buy elections as well as Manhattan real estate.

Are you over age 70? You must take out your annual IRA distribution or pay 50% more 

The IRS sets a schedule of required minimum distributions, or RMDs, to keep savers from deferring taxes indefinitely. After reaching age 70 1/2, IRA owners must begin to take money out of their account each year and pay income tax on the amount. Failure to pull money out triggers a hefty penalty equal to 50% of the amount you were supposed to take out of the account. Among 750,000 IRA accounts where distributions are required, 68% have yet to take the full amount and 56% have yet to take anything at all, Fidelity found. These IRA owners should begin the process now to avoid end-of-year distractions and potential mistakes like using the wrong form or providing the wrong mailing address, which can take weeks to find and correct.

Mutual fund firms will send you the right amount each year automatically. Set it up: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

New study shows most people DO NOT need long-term care insurance

Contrary to all the sales pitches from sales people, most seniors will never need this insurance. It is expensive and may not cover your real costs. The study explains why most Americans don’t buy the cover despite all the dire warnings from the industry. With the largest seller, GE, losing more money, your policy may not be around when you need it. There are other options: http://www.amazon.com/Long-term-Care-Insurance-Updated-Edition/dp/148274001X

Supremes decide if you get your benefits despite your legal “contract”

The Supreme Court is set to decide the question of whether plan sponsors bound by a collective bargaining agreement have to provide medical benefits for the duration of a retiree’s lifetime, even after the collective bargaining agreement expires.

So don’t count on employers’ promises. We are on our own: http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Largest mutual fund attracted $163 billion with low-cost high-return promise

Vanguard’s mutual funds charge an asset-weighted average of 15 cents for every $100 invested, compared with 70 cents for the mutual-fund industry, Morningstar data show. The firm was founded by John Bogle in 1975 on the idea that most professionals can’t beat the market. Berkshire Hathaway Inc. Chairman Warren Buffett gave the company an endorsement in March in his annual letter to shareholders. Buffett said he told the trustee managing his affairs that after his death he wanted 90 percent of the cash he leaves for his wife put into very low-cost funds at Vanguard. Read which ones: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

IRS says we get only 1 rollover per year—any rollover counts

Beginning next year, the limit of 1 per year will apply by aggregating all an individual’s IRAs, effectively treating them as if they were one IRA for purposes of applying the limit, the IRS explains.

The IRS says that the new interpretation will apply beginning Jan. 1, 2015, and that a distribution from an IRA received during 2014 and properly rolled over (normally within 60 days) to another IRA will have no impact on any distributions and rollovers during 2015 involving any other IRAs owned by the same individual.

Move your IRA by Dec 2014 so you can move 1 more in 2015. You get only 1 per year.

Excluded from the one-year limit, however, are Roth conversions (rollovers from traditional IRAs to Roth IRAs), rollovers between qualified plans and IRAs, and trustee-to-trustee transfers--direct transfers of assets from one IRA trustee to another.

Trustee-to-trustee transfers are safer and there are no limits, so don’t worry!

Not every broker is an expert: https://www.irahelp.com/faqs.php

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 and 50,000 in 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.

The War on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq proved converting a nation to Western-style republic doesn’t work.

GM tried to evade ignition recall and suits 

Confidential emails between General Motors and the company that manufactured its ignition switches appear to show that GM decided to replace the defective parts before alerting customers. The emails, according to a lawyer representing the victims, contain evidence of "a criminal cover-up that cost lives and caused severe injuries." "They covered this up for 10 years. As a result, vehicles are gone, accident records cannot be restored, and no one remembers what car it was that ran that stop light and caused someone's death. As a result, a large victim population will never see justice."

Regulators fine (NOT stop) brokers for selling junk muni bonds to consumers

The SEC cracks down on financial firms, including Schwab, J.P. Morgan Securities, Lebenthal, Oppenheimer, TD Ameritrade, UBS and Wedbush for selling risky debt beneath the minimum allotment of $100,000 for a single transaction. The SEC investigation focused on the trading of securities from a $3.5 billion Puerto Rico general-obligation deal in March, the largest speculative-grade tax-exempt sale ever. None of them admitted to wrongdoing. There are NO refunds.

Are you a victim of the living trust scam?

Investors often sign up for revocable living trusts because they want to avoid probate costs. In senior seminars, victims are told they will incur probate costs and estate taxes and won’t benefit from the 50 percent discount of setting up the trust unless they sign TODAY. Problems arise because assets may already be protected in a will or pension account. If there is no dispute among heirs, probate is often much cheaper than paying to manage a long-term trust. According to AARP in a posting titled “The Truth About Living Trusts,” salespeople exaggerate the costs to make the sale. Congress says it has proposed tougher laws but no one expects passage given the financial lobby.

See a genuine estate lawyer first.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts