2021 better than 2020?

 

Hope your 2020 was as successful as some of our readers

Our readers use Vanguard mutual funds because they are low cost and well diversified. As you can see, even though oil ‘tanked’, growth around the world more than made up for the loss. Readers maintained their long-term average of over 11% for stocks and thus this year of pain didn’t hurt them financially. Most readers did not panic and sell in the March market collapse. International Growth benefited by its top 5 holdings: Tesla, ASML Holding, Tencent Holdings, Alibaba, and MercadoLibre. Some readers held only Target Retirement funds and still earned about 15%. This confirms this new investment strategy of holding just one low-cost diversified balanced fund during our working years. This is a simple but effective strategy. We avoid paying a broker and thus avoid giving up 63% of our potential long-term nest egg. We keep more by paying less.

 

2020 Total Return Fund                    Long-term Return      Longevity

18.4% 500 Index                                             11.3% since 1976

-30.8% Energy                                                   8.5% since 1984

32.2% Extended Market                                  10.7% since 1987

12.6% Health                                                   16.1% since 1984

59.6% International Growth                              11.6% since 1981

17.3% PRIMECAP                                         13.8% since 1984

19.1% Small Cap Index                                    10.6% since 1960

 8.5% Wellesley Income                                     9.7% since 1970

 7.4% Windsor                                                 11.2% since 1958

14.5% Windsor II                                            10.8% since 1985

15.9% Average                                                11.4% *

            *Average Annual Returns as of 12/31/20.

 

Avoid broker charges: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

 

Two Americas: separate and unequal

Rich got richer in 2020; poor got poorer: Two Americas grew farther apart. Another 800,000 filed for unemployment last week. Some have stopped collecting but there are still 11-12 million collecting unemployment. The extra federal benefits will run out this week. The other America—the one that owns stocks or profitable companies got richer last year. The wealth of those with stocks went up by over 16%. Some of our readers met their goals for retirement income by NOT selling in March when the pandemic hit. Our government made sure by propping up big business with borrowed money the rest of us will have to pay for later in higher taxes. 60% of Trump tax cuts went to the top 20%; the corporate tax rate is slashed by 40%. There are TWO Americas and they are going in different directions. Wages for most workers have not kept pace with inflation. With more money in the election system, can there ever be ONE America again? We have a system that rewards the elites with subsidies and we have to pay for their wealth. Plus the health care system spares no expense to help the elites while the poor suffer longer.

Socialism in reverse: https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584

 

You can continue to subsidize your child’s life

Several readers needed to know what the options are for making sure their kids will continue to have an income even after they, the parents pass. Today the standard option is to pay a lawyer to make a trust of some kind and pay to update it every year and pay federal taxes every year. Some of us are not willing to spend big bucks so we need to consider all the options. Most people have a will that leaves their property to heirs. Many readers used to plan to leave the money they don’t need from their IRAs to heirs outside their wills to beneficiaries. A primary would be a spouse and the secondary or contingent bene would be your offspring. This was our plan until Trump’s party changed the law in 2019 to eliminate the ‘stretch IRA’ as it was called. Some readers have chosen an annuity to keep paying their kids after they are gone. However, the annuitant, as the kids are called, can then cash it in—taking all the money out at once. This causes a big tax bill plus there will be no more monthly benefits to live on. Some of us in retirement are thus exploring a special low-cost immediate annuity that does not allow full ‘surrender’ as it is called. Some or all of the benefit each month will be taxable after you, the owner, dies but at least your heir cannot waste a lifetime income. You could convert the IRA to a Roth IRA, paying all the taxes up to that time and leave the future monthly income with smaller taxes. This may solve your problem of providing your heirs with a monthly income for life. Annuities are priced by current interest rates. Example: $500,000 from a Roth IRA invested in an immediate annuity will pay a 40 year old $1550 a month for life.

Consider: https://www.amazon.com/What-your-RMD-much-spend/dp/1718946716

 

Social Security benefits are taxable: delay as long as you can

If you file an individual tax return and your total income is between $25,000 and $34,000, you may owe income taxes on up to 50% of your Social Security benefits. Earn more than that, and up to 85% of your benefits could be subject to taxes. If you file a joint return and your combined income is between $32,000 and $44,000, you may owe taxes on up to 50% of your benefits. Earn more than that, and up to 85% could be taxable. Even municipal bond tax-free interest is used in the calculation. The easiest way to avoid paying taxes on your SS benefits is to delay taking benefits while they grow at up to 8% a year. After age 70 they stop growing. You can also stop being employed. Others have found that they can self-employ and use their business expenses to offset their income. This is the method our president uses to take $ millions of income yet pay little or no taxes. His businesses show a loss that offsets his income of all types. For instance, he “gave” away the forest near his New York mansion and claims a deduction because he said the land could have been worth $ millions if it was developed. You may not have a forest to deduct but you can lower taxes in retirement using a legal tax shelter.  

Pay your fair share: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

 

Is buying stock in the next Apple directly right for you?

Regulators have just announced that we can cut out Wall Street bankers and buy the next Apple directly. No more IPO stock being sold only to the elite by Wall Street bankers. Wall Street controls who is offered the next explosive stock. However, in 2018, music streaming business Spotify Technology SA was the first major company to go public via direct offering. Direct listings had also been limited to companies wanting to give early investors or management the opportunity to cash out by selling stock. Cutting out the middleman has been a strategy for many successful consumer products like Tesla cars. Is buying an untested company stock right for you? This is a read gamble since new issues often rise quickly and then crash after insiders/speculators take profits right away. This strategy also assumes that you can research the company fundamentals quickly. As we all have learned, gambling is fun IF you win.

Invest wisely: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

 

If you are over age 70.5 your RMD for 2020 was waived.

If you already took an RMD in 2020, can you reverse it? “Technically, the distribution can’t be reversed,” says Schwab expert Hayden Adams. “However, according to new guidance from the IRS in Notice 2020-51, you can re-contribute the amount back into your retirement account as long as you do it by August 31, 2020.” Unfortunately, you can’t reverse the tax withholding, but depending on other factors in your tax situation, the IRS could refund the withdrawal when your 2020 return is filed. Your tax preparer will need to follow new instructions to do this. It might be easier to pay the tax on the few months you took your required minimum distributions in early 2020 since you may have had taxes withheld anyway. We must resume automatic RMD in 2021. We may resume deducting IRA contributions from income if you have earned income. With the (SECURE) Act there is now NO age limit on contributions as long as we have earned income (even self-employment income). Instead you can create a tax-FREE fund for your future by using the special IRS account: a legal tax shelter.

https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

 

Tax prep for 2020 income is different

RMD retirement income waived. Higher standard deductions. Higher income tax brackets. Higher contribution limits for (some) retirement accounts. Unemployment compensation is taxable. Charity deduction without itemizing. Higher cap on Social Security payroll taxes. All income above $137,700 avoids the 6.2% tax so the more you make the less you pay. All capital gains and dividends are taxed at lower rates than our earned income so the more you live on dividends and gains the less you pay. Most high income executives take most of their pay as un-taxed deferred compensation—usually at lower rates. For instance, Warren Buffett with $86.8 Billions pays only 17.7% in taxes while his staff pay over 33.9% of their compensation. So the more you make, the less you pay. Yet the millionaire Congress denies helping most Americans during their hour of need after providing one of the largest tax breaks in history to the rich just 2 years ago.

Pay only your fair share: https://www.amazon.com/Tax-Credit-Class-use-your-credits-ZERO/dp/1539462382

 

 

 

**********ACCOUNTABILITY**************

 

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

 

 

Our ‘Truth and Reconciliation Commission’? 

 

Healing America begins with admission: 340,000 dead

 

Dictator’s advisor: “we want them infected”

 

Dictator sitting on 55% vaccine: 3,000+ die per day

 

Dictator’s revenge hurts:

no stimulus, no unemployment, no eviction extensions

 

 

How Govt wastes our money: Our Representatives gave 3.7 Trillion to the wealthy! 

Millionaire congress ignores voters: WH does nothing; we pay for vacations; power plays  

60% of GOP/Trump tax cuts went to the top 20%; the corporate tax rate slashed by 40%.

McConnell decides not to help America’s poor/unemployed: GOP ran deficit for rich but not us

Millions go to food banks for 1st time: McConnell: Congress has provided enough pandemic aid

 

Commander vetoes own defense bill so he can sue Twitter: no raise/housing fix for troops

 

Louie (the Bull) Gohmert (R-Texas) sues Pence to nullify Biden win: waste court’s time

Sen Hawley MO Trumpist to vote to nullify our votes: Trumpists try delay for Coup

 

Seat belt mandate in every state saves lives yearly: life you save with mask may be yours

Luke Letlow, GOP Louisiana, died of covid-19 : Pelosi praised service to country

Judge orders GA GOP to stop purge of Dem voters before senator elect re-vote:

 

 

SCAMS/SPINS:

Is a pardon the same as not guilty? Gen Flynn lied a lot: FBI: will USSR clients pay him now?

Trump’s “virus is hoax” was lie: 340,000 dead: Sen Ernst, Graham ‘hoaxers’ took vaccine; Why?

Saudi ruler sent woman to prison for 6 years because she drove her car: Trump agreed

America: world’s largest death dealer: Israel, Saudi Arabia, United Arab Emirates Egypt despots

 

Domestic terrorists occupy DC hotel ready to help dictator remain in power in WH

Secret Service agent switched out due to political persuasion: Biden has old team back

 

 

Omni Financial caught violating military allotment rules: fine no jail

Snow Teeth Whitening caught claiming protect against virus as well as dark teeth

Miracle Farming caught raw apricot seeds or kernels do NOT cure cancer: B-17 is fake

Tesla owners last year cited an “alarming number of car fires”: start spontaneously.

Home Depot ceiling fans recalled: blades could spin off while twirling

Chase ditches Expedia for own Chase portal: book a flight completely free using points 

PPP loan forgiveness rules changed twice: tell accountant to measure twice, cut once

Review 529 plan rules change: 2017 tax reform bill and Secure Act.

Recall dog food: Sportmix pet food products cause illness/death from corn mold.

 

 

IRS: Easy Steps to Protect Your Computer and Phone and Avoid Phishing Emails.

IRS: Free special ID protection PIN goes on your return so scammers can’t take refund

IRS: Previous tax returns available online: https://www.irs.gov/individuals/get-transcript

 

Is it a scam?  Check AARP scamline 877.908.3360.

 

Check IRS: https://www.irs.gov/newsroom/dirty-dozen-part-1-taxpayers-should-be-on-the-lookout-for-these-scams

https://www.irs.gov/newsroom/dirty-dozen-part-2-thieves-work-all-year-to-scam-taxpayers

Check Social Security: https://blog.ssa.gov/

Safeguard data: ConsumerReports help: https://securityplanner.consumerreports.org/

 

Jobs

Jobs in high demand: IT, accounting, financial, health care, education, training

Millions out of work: unemployment up; shoplifting up; burglary down

 

Who owns your account now?

Spend your FSA dollars before they die or carry over to next year.

Time to downsize vehicles: 3 best used: reliability, safety and long-lasting value.

 

Miracles:

Science finally trying to limit our mosquito bite itch: how do they find my skin?

Kids! Math and playing Othelo can keep you healthy: Kane Tanaka, turned 118 in Japan. 

 

Good events of 2020: former teacher used yard for small group of children Wildside Academy

 

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/

Apple gets tax bill from Europe NOT US

Apple gets bill for back taxes from Europe not US

European Commission ruled against Ireland's tax dealings with Apple and Dublin will recoup back taxes. Apple and other corporations have been playing the “move legal address” game to avoid taxes in the US and other countries. The EU demanded $14.5 billion and said that a special scheme to route profits through Ireland was illegal state aid. "Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years," EU said. As of June, Apple reported it had left $214.9 billion in foreign subsidiaries so it pays only 10% to US. Many like Amazon, McDonalds and others hold cash oversees to avoid taxes which we must make up for. IRS dead. Thanks to budget cuts, audit rates have plummeted, especially for the biggest corporations, with armies of savvy tax accountants. Criminal tax prosecutions have nose-dived, too. No one fears tax man except working people. “Only little people pay taxes.”

Avoid paying their taxes: https://www.amazon.com/Americas-Socialism-for-Rich-little-people-pay/dp/1535218584

Is investing a fixed dollar amount each month right for you?

You can buy 100 or 1000 shares when your broker calls or you can set up an automatic fixed amount to invest every month. Which is better for you (not your broker) over time? If you are on salary, you need to fix your monthly expenses so you don’t overdraft when you spend. This chart from BlackRock shows you how to pay the least amount for a security or mutual fund share over time. Clearly you end up with more shares in a volatile market when you use “dollar cost averaging.” BlackRock also shows you why market timing is a Wall Street myth: you miss 5 days—you lose. Tell your broker to take a hike.

Think of all the commissions and fees you will NOT pay. Give yourself a bonus:

https://www.amazon.com/Funds-ETFs-Best-your-goals/dp/1537217267

Are you considering Target Date Funds?

When you decide to invest, the easiest decision is to buy Target Date funds from a large discount seller like Schwab or Vanguard. But which one? There are many choices of mutual funds so it is hard. This analysis by Mr Ping makes it easier. http://www.mymoneyblog.com/schwab-target-date-index-funds-review.html

He has laid out the options and costs. You pick a retirement date closest to your retirement target and you put all your contributions on automatic. You are done. There is no worry: No market-timing, rotation, or tax loss harvesting. It is all done for you.

And you can even make it Tax-FREE: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Are Vanguard’s low-cost investments right for you?

Vanguard has saved investors $1 Trillion in fees and charges according to Bloomberg. That includes forcing the industry to reduce costs for all kinds of investments. Vanguard’s structure has made it possible to offer the Best for Less. The investors own Vanguard—there is no for-profit management company to pay. For instance, the head of Fidelity, Abigail Johnson takes home $ millions every year no matter how much she makes for you. She is now #16 on Forbes list with $15 billions. Her daddy "Ned" Johnson III did not do badly either from your fees. And her grandfather before either. Since cost is the best predictor of success in investing (not manager longevity), you may find their offers of index and managed funds, ETFs, and Target Date funds best overall. Plus, there are no commissions: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Did your loved one leave you a life insurance benefit?

Like most people, you probably don’t know if there was one or not. It may be worth your time to find out. Even if it is 5 years old, you may still be able to claim the benefits. You need to find any records like check register or checks to an insurer or just their name and DOB and state. Use the Insurance Commissioners site to learn how to find it. http://www.naic.org/documents/consumer_alert_locate_lost_life_insurance_benefit.htm

The Commissioners are trying to make it easier, especially given the scandal 60 minutes created when they told us that insurers were pocketing many benefits themselves.

In case you want to know if you still need one: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178

Vanguard reports the average retirement account toped $100,000

The average workplace retirement plan balance topped $100,000, having nearly doubled from 2008. However, because this includes some really fat accounts that push the average up, the more likely situation, the median balance, is just $31,396. This situation is also a result of the stage of the Vanguard participants. If most are just starting careers, the median reflects this. Many savers will have time to improve their situation if they use low-cost stock funds at Vanguard. Studies have shown that allowing their balance to compound without trading can double it every 7-9 years. Earning 11% in an index fund not 3.79% in a managed account can create a comfortable retirement egg and income.

It’s your money—Keep it: https://www.amazon.com/Win-Investment-War-Earn-11%/dp/1522916369

Kelly Blue Book picks best SUV under $25,000.

Full List is below. Remember, the 3-year-old version may be a better buy since they have usually worked out the recalls/wrinkles and 40% off discount with mileage under 50K. I just got a loaded 2013 Subaru Outback for under $21,000 (w/ tax title docs) with 54K miles and one owner. It has 100K-7 year warranty too.

1. 2016 Honda CR-V
2. 2016 Mazda CX-5
3. 2016 Hyundai Tucson
4. 2016 Kia Sorento
5. 2016 Subaru Forester
6. 2016 Honda HR-V
7. 2016 Toyota RAV4
8. 2016 Nissan Rogue
9. 2016 Jeep Renegade
10. 2016 Jeep Wrangler

Don’t forget to add the cost of insuring a NEW car: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

What will you do when Social Security runs out in 2034—17 years from now!

The Trustees project that the combined trust funds will be depleted in 2034, and we can’t count on GOP Congress to fix it. Many seniors will need to go back to work or ask their GOP-run state reps for a hand out. GOP does not like tax increases even to fight diseases like Zika—(they went on vacation). High income people do not pay SS taxes on pay over $118,500. Some intellectuals want to raise the retirement age to 76 so fewer collect. They advocate high-cost annuities to replace SS spousal benefits. So how can we prepare? We can save and invest for a rainy day, tax-FREE, like the rest of mankind. If you are near retirement, maybe you should reconsider. If you are going to take it SS now, check your options first.

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

Supremes ready to exclude black voters in NC—a racist court?

Because Roberts, Kennedy, Thomas and Alito were willing to overturn NC court’s voiding of voter suppression measures to exclude blacks from voting, Scalia is being missed by GOP leaders today. Scalia would have sealed black voter suppression in NC and perhaps other states. Supremes would overturn a unanimous panel of the 4th Circuit on July 29 who agreed with allegations from the Justice Department and civil rights groups that North Carolina’s bill selectively chose voter-ID requirements, reduced the number of early-voting days and changed registration procedures in ways meant to harm blacks." The Richmond U.S. Court of Appeals found the NC law unconstitutional. “Upon receipt of the race data, the General Assembly enacted legislation that restricted voting and registration in five different ways, all of which disproportionately affected African Americans.” NC changed vote law after the Supremes decided a Voting Rights Act void.

The Supremes (with Scalia) would have found discrimination constitutional.

Don’s Apology?: “Sometimes in the heat of debate, and speaking on a multitude of issues,   you don't choose the right words or you say the wrong thing. I have done that." 

Hill’s Apology?: “I just followed advice of Colin and other Sec. State before me.”

Don:    Citibank says if I win it will “cause global recession”—we need bank shakeup!

            My doctor wrote exactly what I needed him to write—I will be greatest prez ever

            I asked the Hannity mob whether “criminal” immigrants get deported. What?

            I told you it’s fixed: foreign hackers have broken into two state election databases

            That 1973 discrimination suit was a long time ago and I admit nothing in consent!

            Joe Scarborough gets no interviews since using this tweet: #AmnestyDon

            I met with Mexico to get the Wall started—they pay so they build on their side?

            Mexican pres has compared Trump's "strident rhetoric" to Hitler and Mussolini's.

            I don’t want to be president, just “listen to my meaning.” I just used $55,000 in campaign donations to buy copies of my book at full retail price. Boost my book ratings.

Mike:   Don has been "absolutely consistent" on how he'd treat undocumented immigrants

            Press: I gave $24 million to 10 companies that offshored jobs; I lost more IN jobs

            Yes, Don’s plan means even a Texas high school valedictorian would be deported

           

Hill:    Don is moving toward “path to citizenship” no wall, no deportation, no plan.

            I only used a few tax dollars to pay for my server and foundation—no big deal!

            Don hired attack dog Bossie to come after me again—more mud slinging!

Tim:    Don has 120 foreign deals going—how can he deal China if he owes them?

            Don may be house rich, cash poor: we don’t know his real creditors/obligations.

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill                requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

Investment firms caught making false claims on AlphaSector ETF—Never beat Index

TX judge: 3 professors can NOT ban guns from their classes--but more guns=more death

GM switched to Takata air bags to save money and killed 14 knowing less stable inflator

Both United pilots drunk caught after crew alerted police before takeoff—Scots law too!

Caldwell International Securities TX caught letting brokers churn customer accounts

Texas’ attorney general has sued a TX county that tried to ban guns from its courthouse. 

SC killed millions of honey bees as part of a spraying program to kill Zika: who’s boss?

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Police want gun control.

When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot if you and robber has gun. They Shot a psych worker with his hands up while on ground. Police shot black homeowner who reported car stolen in front of house. No “shout out” “police” since homeowner has gun. They shoot first if black or deaf. Deaf man was fatally shot when he tried to explain in sign. An Oklahoma mom was arrested after she shot a man she found in her 16-year-old daughter`s bedroom. OK Police pepper spray NOT shoot 84 year old mom who didn’t move fast enough in HER home. 11-year old shoots another 11-year old playing at home with adults’ gun. Smart guns can only be used by owner but banned in states by NRA. Guns kill people.

SCAMS

GM knew Takata air bags were dangerous and still killed 14, injured 100s—GM liable?

Takata airbag parts exploded on a Texas road killing 1 person nearby—powerful airbags!

Don’s Wall is useless: Mexico police found hidden tunnel from Sonora to Arizona

EpiPen now reformed and wants $300 “in several weeks” instead of $600

Koch pushing GOP to stop govt from staying open: another costly govt shut down 9/30?

Cinema where 12 were shot claims survivors owe $700,000 because they sued Cinema?

Ignoramus Award: Weiner with his son! in bed sending Xpictures public—needs cure?

How our government wastes our money

$400 billion F-35 fighter jet is the future it’s official testers have many concerns.

$36 B: “it was clearly premature to include so many unproven technologies" on carrier.

$18.3 million stolen by Patent office workers: covered by management and no jail time!

SC killed millions of honey bees as part of a spraying program to kill Zika: who decided?

Where have all the jobs gone?

Drones now patrol tracks looking for cracks/breaks/repairs and verify insurance claims

Mike Pence: I gave $24 million to 10 companies that offshored jobs; I lost more IN jobs

What happens when the paying jobs Trump promises to come back don’t come back?

1,100 $16.10 jobs KY making electric motors to $1.75 Mexico—Trump restores job?

Walmart automates: 7,000 back-office jobs in accounting and invoicing positions to sales

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Lies My Financial Advisors Told Me

Lies My Financial Advisors Told Me and low-cost alternatives I found

Did your advisor show you how to earn 10-12% return on your money without paying their fees every year?
Did your broker tell you that you can buy individual securities for $0 commissions now?
Did your agent call you about falling insurance premiums?
Did your banker explain your accounts will be ‘nickeled’ and ‘dimed’ to death?
Did your money manager explain that low costs are the best predictor of investment success?
Your financial “team” is robbing you of $3,000 every year.
“Professional money management is a gigantic rip-off.” Bill Gross, Bond Guru
Just published: https://www.createspace.com/3943417

Women need to start building tax-FREE wealth now with $100

Retired women continue to rely on Social Security at higher rates than retired men, with 16 percent of women and 12 percent of men age 65 and older depending on those payments as their only income in 2010, according to a recent report. Women who started late were still able to create a Tax-FREE Retirement: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Medicare helps start new health insurer in CO

The Centers for Medicare& Medicaid Services awarded a $69,396,000 loan today to Colorado Health Insurance Cooperative, Inc. in Coloradoto launch a new private non-profit, consumer-governed health insurance company, called a Consumer Operated and Oriented Plan (CO-OP). "CO-OPs will promote competition and give consumers more health insurance choices," said Marilyn Tavenner, CMS Acting Administrator. "These new private nonprofit insurers will be run by consumers and are designed to offer individuals and small businesses more affordable, consumer-friendly and high-quality health insurance options."

Free medical screenings begin

Eight new health insurance requirements under the Affordable Care Act covering women's health --from wellness visits to contraception -- take effect Aug 1 and will benefit millions of women. But the rules already face multiple legal challenges from Roman Catholic institutions and others who say the contraceptive mandates violate their religious freedom. The changes, which eliminate co-payments for wellness examinations, breastfeeding support, supplies and counseling, and screening and counseling for domestic violence will "improve health for women and their children," Karen Davenport, director of health policy for the National Women's Law Center, said Tuesday.

The Department of Health and Human Services estimates the new benefits will be extended to 467 million women as their new or altered insurance plans take effect over the next year, Davenportsaid. Women will have access to all major forms of birth control without any kind of co-pay, said Jennifer Frizzell, senior policy adviser for Planned Parenthood of Northern New England.

Other women's benefit expansions that begin Wednesday include screening for diabetes during pregnancy, human papillomavirus (HPV) testing, and counseling and screening for human immune-deficiency virus (HIV) and counseling for sexually transmitted infections.

On the floor of the U.S. Senate on Tuesday, Sen. Jeanne Shaheen, D-N.H., said, "This will make a real and lasting difference for every woman across this country who can be ... screened for HIV, get a flu shot or receive DNA testing for certain cancers at no cost. Finances will no longer stand in their way.

HALF of US in crisis drought

More than half of all U.S.counties — 1,584 in 32 states — have been designated primary disaster areas this growing season, the vast majority of them mired in a drought that's considered the worst in decades. To help ease the burden on the nation's farms, Agriculture Secretary Tom Vilsack on Thursday opened up 3.8 million acres of conservation land for ranchers to use for haying and grazing. Under that conservation program, farmers have been paid to take land out of production to ward against erosion and create wildlife habitat. "The assistance announced today will help U.S.livestock producers dealing with climbing feed prices, critical shortages of hay and deteriorating pasturelands," Vilsack said. Vilsack also said crop insurers have agreed to provide farmers facing cash-flow issues a penalty-free, 30-day grace period on premiums in 2012.

Accumulate $1,000,000 with NO taxes EVER. +Take $6,600 monthly income FREE of income taxes.
+Avoid tax on up to 85% of your Social Security benefits.
+Turn your taxable pension or IRA into tax-FREE income.
+Use a special tax haven to protect all your earnings and gains.

Where is your sloop going? A retirement portfolio that flies. $12.95 Just published https://www.createspace.com/3948629

Penn State insurers refuse to pay for institutional crimes

Penn Statefaces $60 million in NCAA penalties, more than $10 million in investigative and public relations costs, and the possibility of many millions more in defense and damages for claims by victims of Sandusky's abuse. But Penn State's insurers say they won't pay. State Farm insurance company has brought a federal lawsuit to get out of paying Jerry Sandusky's considerable legal bills.

Will the lawyers work for free?

45% of eligible retirees take Social Security at age 62

The share of workers claiming early retirement benefits under Social Security has decreased since 2004 when about 58 percent of retirees take benefits at the earliest possible age of 62. The monthly benefit for today's new retirees is reduced 25 percent if claimed at the early eligibility age of 62. High unemployment cycles encourage people to take the money early. However, living on less in the future will be a problem for many. Make sure you have enough: http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285/

Long-term care insurance rates up 50% at GE

Genworth GE said it will raise rates on a majority of its older long-term care insurance (LTCI) policies by 50% over 5 years and to raise rates on many of the oldest "new generation" LTCI by 25% over 5 years. But profits have fallen short of expectations because of lower-than-expected lapse rates, higher-than-expected claims, and low interest rates, and "we believe that early intervention on the newer block is important to managing the performance of this business," Kelleher said. Company executives said Genworth hopes LTCI rate increases already being implemented will add $50 million in new revenue this year and $60 million next year, and that the new rounds of rate increases will add $200 million to $300 million in annual revenue. Time to look at alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

GOP Bachmann raises $1 million: says Muslim Brotherhood in State Department

During July, Bachmann drew headlines for her letters, signed with four other members of Congress, accusing the Muslim Brotherhood of "deep penetration" within the U.S. government and singling out longtime Secretary of State Hillary Clinton aide Huma Abedin. Bachmann faces reelection and it's raining Tea leaves.

SCAMS “Only the little people pay taxes.” Leona Helmsley

Romney won’t release tax returns to public and now we know why

Senate Majority Leader Harry Reid is not backing down from his second-hand allegations that Mitt Romney did not pay taxes for 10 years, but he still won't name his sources for the unproven claim. Reid said earlier this week that an investor in Romney's former private equity firm toldhim the Republican presidential candidate paid no taxes for a decade. But Reid would not identify the Bain Capital source and acknowledge that he doesn't know if the sensational claim is correct. “I have had a number of people tell me that." But he still wouldn't name his sources. "I don't think the burden should be on me," he said. "The burden should be on him. He's the one I've alleged has not paid any taxes. Why didn't he release his tax returns?" http://www.nydailynews.com/news/election-2012/harry-reid-continues-pushing-allegations-mitt-romney-paid-taxes-10-years-article-1.1127323#ixzz22P5VMRzX

This is why his fortune is in Ireland, Switzerland, Luxembourg, Bermuda and the Cayman Islands, reports the New York Daly News, and not in the US. We are making up for his lack of tax payments.

Who owns your account now?

Woodbury Financial, (Hartford) with 1,400 reps and advisers to AIG.

Family Heritage Life Insurance to Torchmark Corporation

Zecco and TradeKing announced their intention to merge

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