How much does retirement cost?

How much does retirement cost?

How do average working people afford to live in retirement? Two-salaried clients— school teacher and office manager—making on average $60,000 during their whole careers, earned enough to have a $1.2 million retirement fund--$40,000/year. How did they do it? Bought 2 used cars every 4-5 years. They invested 5-8% of their checks in stock index funds inside tax-deferred accounts at work and their own deductible IRAs. Bought house 40 years ago $200,000; now worth $700,000. Camping/hiking vacations. Eat out once a month. Did their own home cleaning, repair or maintenance. Bought food, clothes, toys, etc on sale or house brand. Paid for 2 master’s degrees (no scholarship) and a child’s private college degree. Covered 3 lay off periods; bankrupt once. Saved $3-4,000 a year on securities and insurance. One took SS benes at 62; one at 70. Gross income now: $90,000—SS, pension, investments.

https://www.amazon.com/Your-Plan-to-Live-Age-100/dp/1548180793

Supremes give wealthy another way to avoid our taxes

Progressive tax rates at federal and state levels are meant to reduce the gap between us and the tax-shelter class that evades taxes. Taxes were meant to avoid another Robber Baron period. Now the Supreme Court has decided the wealthy were paying too much state tax. Now we will be forced to pay more to make up for the shortfall created because states can’t tax income from wealthy trusts. The rich can now move their trusts and avoid income tax for beneficiaries’ trust. The Supreme Court has essentially opened the door to trust planning that could ‘avoid state taxation altogether.’ Plus they can now avoid an audit when they move to a low-tax state. We, who are left, pay more state taxes.

Use your double tax shelter: https://www.amazon.com/Pay-No-Taxes-in-Retirement-legally/dp/1507527977

DIY Financial Independence: Freedom Workbook

Put your money to work so you don’t have to.

Use your IRS-approved tax shelter—Pay 0% on asset gains.

Accumulate $250,000, $500,000 even $1,000,000 tax-FREE. You achieve Financial Independence by having enough money to do what you want. When you don't have to rely on work to survive, you are financially independent. Playing it safe won't achieve it. You don't have to be super wealthy to become free of money worries. Financially independent people have one thing in common: they put their money to work so they don't have to. If you don't put your money to work, you will never be free.   'Compound interest' is the name of the process by which money makes money. You don't need to do a thing besides sending $250 to work every month. You earn money every time you buy things. You own part of the businesses. Compounding is what Warren Buffett counts on for success.

“My wealth has come from a combination of living in America, some lucky genes, and

compound interest.”

How much can your money earn for you? It depends on how long it works and where you put it to work. The best strategy is to use your Wealth Reserve to shield your money while it works in places you shop. You can use a special IRS-approved Tax-FREE account to avoid all tax on investment dividends, earnings and interest. You can also avoid the fees and commissions on this account. Your $250 a month investment may grow to $1,000,000 or more and it is all tax FREE. That $3,000 a year for 33 years ($99,000) compounds to $1 million if you put it to work: capitalism.

Put money to work: https://www.amazon.com/DIY-Financial-Independence-Freedom-Workbook/dp/1088908500

Trump’s medical price stability promise is dead

The health care companies have killed any chance for giving US a break. It is impossible to shop and compare prices even for a simple standard item. There are hidden costs in every procedure even if you knew the contract price between you doctor and the hospital. Those who argue that when we have ‘transparency’ we will shop and save are overlooking the conflict of interest of the sellers. I can’t tell my doctor to use the hospital or center where I found the lowest cost. I don’t trust the doctors who work at that center and vice versa. The doctor and the center are NOT on my side in this deal. Doctors make special deals with centers in their best interest, NOT mine. Like sales people, doctors make more by doing more volume with this center vs that center. Like my broker, they get paid more by selling one firm’s product over another. Or take a simple blood test. The median retail price in one place is $20 while the same test costs $443 in another. And what about life-saving insulin, up 1,700%? I can’t shop in India or China for insulin!

All these people make more than I do: https://www.amazon.com/Americas-Socialism-for-Rich-not-little-people/dp/1535218584

What can an annuity do for your retirement?

Congress wants to let the financial industry make a killing on annuity sales to retirees. Is this good for US as we retire at 10,000 per day? An annuity is a steady income for your lifetime. Insurers buy bonds with your money and dole it out to you monthly over time. You will receive less in buying power over time. Inflation takes HALF the value in 20 years. Insurers earn 1-3% depending on the type you buy. You receive a good deal if you live to be over 90. If you die before age 85, you lose. However, if you don’t feel comfortable using a 0.23% balanced (stock/bond) fund and having the fund firm send you a monthly check, this may be your best deal. A balanced fund earning over 8% a year can beat inflation over time. You keep your buying power and have a legacy too.

https://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

What are the options to save for college?

A tax-advantaged account called ‘529’ is available through any financial firm. What are the alternatives to a 2% savings account? Investment options range from all stock to all bonds. The middle road, overweighted to bonds, seems to work best for the 15-20 year average time to accumulate. Some plans offer age-based options. Some states provide a tax deduction. Some plans are sold direct without commissions and some cost you more. Many states allow anyone to use their plan. Some states offer low-cost management. Usually you can invest whatever amount you like but $100 a month for 15 years could provide over $40,000 for school for young and old—any educational purpose.

Learn more: https://www.savingforcollege.com/college-savings-101

Give your child a leg up with money

Make sure you teach your kids how to create wealth the easy way. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. We have used this 'Wealth Reserve' as I call it to have funds to buy low-cost insurance, two homes and 5 cars with higher down payments or cash. Now we receive $2,500 a monthly in retirement supplement.

     I found the advice of the smartest money manager of our time--Warren Buffett--is the best. It turns out his simple investing plan is best. Buffett: Panic is buy signal.

https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355/’

**********

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

Half the opioid pills were purchased by just 15% of the drugstores: 15 killing fields!

Trump confirms his ‘socialism for rich’: paying farmers more than if they produce soy!

Background checks are useless: OH shooter had 10,000 rounds to kill ½ Dayton

GOP McConnell helps USSR buy KY industry: ‘Moscow Mitch’ & ‘Mad Max’ Mnuchin

"He Has Gone Mad": Danish MPs On Trump's Reported Plan To Buy Greenland

SCAMS/SPINS:

Trump’s own construction crew are guys without papers: ICE doesn’t dare touch them.

Trump comments on FoxNews’ fake news comes true because USSR TV paid for it!

Trump says Clinton killed Trump’s buddy Epstein in prison of all places: Demented!

Trump: I saved steel industry with tariffs: “Steel was dead. Your business was dead,” now business is thriving.”

Trump plans to eliminate endangered animals: oil gas coal producers have won!

Trump:“Prices not up, no inflation. Farmers getting more than China would be spending”

Melania actually took home that El Paso survivor? Sick to use baby as photo prop

IRS lets advisors pull fees from the cash value of your annuity without you paying taxes.

Crypto currency scams on all social media: get-rich-quick is offer—get poor quick results

“We are worried,” Bank of America Merrill Lynch chief economist said. Panic buy signal

Steve Baptist caught taking commissions on trades in dead client accounts. New B-D.

Richard Duncan MA caught making Turkish scam on his clients: 100% return

Dawson James FL caught soliciting DoNotCall list: $20,000 fine but not ‘guilty’ plea.

Antonio Bravata started his second scam before he finished sentence for his first fraud Andy Gamber Voyager Financial caught fraud on disabled veterans: fine no firing squad

Craig Rumbaugh caught promising ‘safe’ real estate-backed returns Werth’s Ponzi

CA bans pesticide Trump defends: developmental neurological damage in humans.

Court: Trump must provide food, water, beds, toothbrush, soap just like Stalag 13.

Police Chiefs demand assault weapon ban: Congress & Trump in clutches of NRA!

Jobs

Civilian Spy: MicroSoft has employees and vendors listening in to your Skype, Cortana

Retire early? You are likely to experience bouts of anxiety and self-doubt. 

Physicists found new state of matter: increase storage quantum computer. Stream movie?

Physicists: temperature is property of quantum entanglements of ultracold atoms: Save E.

Who owns your account now?

Your old debt (past limit) can haunt you if you or collector makes a payment later.

SEC video about your advisor or broker: how to pick and how they get paid

Miracle:

Takes a miracle: Despite the news, even Pope’s letter, priests still abusing children. Jail?

Take a Miracle? Police lead black man on rope by horseback through town like past.

Save this spaceship: Troops with heatstroke double from 2008: EPA kills Bristol Bay life.

Angry neighbors turned nice: “Kindness goes such a long way. Gratitude goes such a long way.”

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

We have 15 years to make up for 25% cut in SS benefits

We have just 15 years to prepare for 25% cut in Social Security

The SS Trust Fund will be depleted in 2034 according to the 2017 Report: https://www.ssa.gov/OACT/TRSUM/tr17summary.pdf. “The Trustees recommend that lawmakers take action sooner rather than later to address these shortfalls, so that a broader range of solutions can be considered and more time will be available to phase in changes while giving the public adequate time to prepare.” We should not wait for our reps to do something since none of them need SS benefits. Most are millionaires. Our SS benefits are already taxed, depending on our incomes so the tax will be increased. The current FICA tax will likely be increased too so we will have less take-home pay. Our reps did not ‘reform’ the tax code that allows those earning above $127,200 to avoid FICA. So the Trust Fund deficit could be fixed by taxing everyone but this is not likely after they just cut taxes on their rich and donor class. We have 15 years to invest.

Make up for the 25% cut in your benefits: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Low-cost meds under attack: we need single payer system

Generics cost little to make so profits are low. Good for us if we had a single payer system which bought huge quantities in bulk at cost. However, the current system works on high margins for a few drugs that are featured 24/7 on TV. Also large makers bribe doctors to push new drugs to patients. Largest generic drug maker has laid off 14,000 workers, closed 40 plants and others are folding. Four middlemen orgs buy as coop and jack up prices for additional profits. This is where a single payer would keep prices low by replacing the ‘middlemen’ to buy direct. EpiPen price increase to $300 gives the opposite impression to us. Single payer systems around the world buy direct and pay 40-50% less for same drugs. Medicare, the largest buyer of drugs, was outlawed by drug lobbyists in Washington from negotiating bulk rates. Contrary to drug maker propaganda, US patients DO NOT receive better care thus living longer than single payer countries.

Buy low-cost health care: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Help your graduate get started on their Wealth Reserve

The number one regret that I hear from clients is “Why didn’t I start investing earlier.” Perhaps it was because no one learned about compounding in high school so they blew their first good paycheck on cars or wild parties. Why didn’t we learn this chart in school: http://www.saferchild.org/power/. By investing $2,000 a year for 8 years before age 26, we transform $16,000 into $1,000,000. And now a young person can have $1 million tax-FREE thanks to an IRS trust. How does it work? Each year you earn an average of 10% on all your contributions and earnings from previous years. So by age 30, you would have over $36,000; by age 40 $95,000; by age 50 $247,000; by age 60 $707,000; and by retirement $1,000,000. Actually if you kept it going by withdrawing $100,000 a year you would still have about $1 million. Of course, in 40 years, your $1,000,000 would have the purchasing power of about $250,000 due to inflation. However, you and your employer may be funding a 401k or IRA also.

Give them the miracle of COMPOUNDING: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is ‘factor based investing’ right for you?

Our industry has come up with another way to excite the sales force to sell a new concept in order to move your money (more fees) to something new—almost anything new. This term has become popular with the advent of ETF or an index that can be traded daily to increase fees. Factors are the underlying exposures that explain and influence an investment’s risk. For example, the underlying factor affecting the risk of a broad market-cap-weighted stock portfolio is the market factor, also called equity risk. That is, we can consider market exposure as a factor. Instead of holding the largest company stocks in an index over time, the idea is to customize a portfolio so your advisor convinces you that they can control more or less risk of declines. A cool idea but no one has proved this can work over time. Advisors like to compare their new ‘power’ to control risk by claiming it is like your genetic predisposition to specific diseases. Factors that they think they can use to customize your investment outcome are “Market, Value, Size, Momentum, Low volatility, Term Credit.” I would call these items ‘influences’. Most of this is common sense but the identification allows advisors to sell you on the idea that they know which ETF is best for you. They don’t because no one knows the future; just the past.

Keep it simple for best results: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

“How much do I have to invest” is the most common question

Many people ask me this question. As you might imagine, “It depends” is the answer. It depends on your goal and your age. If you want to accumulate the most you can and you are in your 20s, 10% of your gross income will provide an adequate sum. Assuming average income of $30,000, $3000 a year for 40 years may provide $1.6 million or $400,000 in today’s purchasing power. If we start later, we need higher amounts to hit this goal because it takes time for compounding to work and create wealth. It takes $5,000 for 30 years to hit $1 million or $400,000 (inflation-adjusted). If we only have 20 years for compounding to work, we need $15,000 a year to hit $1 million inflation-adjusted $600,000. Assumes inflation 3%; stock market index 11%.

Add 25% bonus with Tax-FREE wealth: https://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

Has your advisor been preaching an “Advice-centric” experience?

Advice-centric experience is not what clients are looking for. Rather we want what might be called client-centric exploration. Advisors should take the time to find out what you are thinking and feeling before they start rolling advice at you. My industry is finally acknowledging that people don’t want just things: transactions—securities, insurance, annuities, package products, etc—thrown at them. Forget the lingo and the ‘sizzle’ wow talk. What people want are solutions that are “best for them” in their situations, now and later. Our industry has harmed a lot of people with its business model. It is a sales ‘killer’ culture. Most security sales people wouldn’t know what is “best for the customer” even if they were their own customer! Most don’t use direct-to-consumer manufacturers so they don’t know “the best” “low-cost” products. Financial firms are sales firms and the sale is what makes the “world go round” for them. This is why the “Fiduciary Rule” was killed at their request by Trump. The rule goes back to English Chancery law when a prominent person (trustee) had to act for another’s benefit with no conflict of interest. Most advisors can’t ‘put themselves in your shoes’ but at least they could explain their conflicts and all the costs of the product. But that would require a non-sales culture.

Use the best firms that follow the Rule: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275

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

Make America, “The Don” Great Again

The Path to Dictatorship

“I have absolute right to do what I want with the Justice Department”

‘I’m the only one that matters’ Mob Boss, Nov 3, 2017

Loyalty to The Don above country. Treason? Above the Law?

Trump to refuse to answer special prosecutor’s questions: Above the law?

FBI finds answers in ‘The Don’s’ consigliere’s office/home/hotel

“I have nothing to do with his [Cohen] business”

Trump thinks FBI subpoena on lawyer is “Attack on our country”

(Dictators often have delusion they themselves ARE their country)

Comey says Trump ignored intelligence community message ‘we are under attack.’

Treason is ‘giving them aid and comfort within the United States’

Putin’s influence: Manafort, Flynn, Gates, Page, Stone, Papadopoulos, Sater, Zwaan  jailed, Prince, Jr, Jared, Sessions, Cohen, etc 

Putin controls US power utilities and 21 state voting files, Trump slush fund, etc

Russian SS has ‘pee’ tape of Trump

Trump lied about time making ‘pee’ tape. “My head never hit a pillow” he admits.

“The election is going to be rigged—I’m going to be ‘honest’” 

GOP voter suppression a success: Dems lost because poor don’t have new ID.

Could Trump postpone Nov 2018 election using excuse of Putin meddling needs fixing?

GOP controls 31 state houses

(Dictators in some countries start their régimes that way!)

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

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

Trump’s immigrant hate is killing next generation’s innovation and entrepreneurs.

Trump’s EPA told to ignore science for clean air and water

Trump pushes global arms sales for Lockheed not global peace.

Trump’s ‘Gestapo’ asked to stop invasion w/o warrant by NY Cuomo. Citizens held 3 yrs

Military losing its landing sites around the world to ocean: Trump bans report.

SCAMS:

Giuliani tells Trump he can negotiate end to Russia-Trump election conspiracy quickly

Airline reg about full pricing to be cancelled so we won’t know full price till booked.

Daniel Glick, Orland Park, IL, caught stealing $5.2 million by wire fraud: jail 12 years.

Hannity is one of his despised “LearJet liberals” too: Gulfstream 200 at Farmingdale LI

Trump to end our access to complaint data about companies we use for loans—fraud OK.

EPA Pruit explains why lobbyists’ money rules American government

Trump’s propaganda lowers US free press ratings: Twitter refuses to show acct owner

Fox Friends had to cut off Pres rant after ½ hour of blaming everyone else for woes.

Jobs:

Online computer science degree GA Tech $7,000 gives you a chance at $70,000.

Hot jobs starting at $76,000 https://howmuch.net/articles/there-are-the-hottest-jobs-in-us-2018-lots-of-opening-and-dream-salaries

Ford exits car business: Crossover, Mustang only so needs only HALF US workforce.

Who owns your account now?

Is there a browser that separates business from individual email platforms?

Who owns the land that climate change has made into the ocean--Mar Largo wash away?

Amazon can deliver to your car with encrypted authentication process to open it? Steal?

Lost SS card? Free replacement online at https://blog.ssa.gov/1-million-social-security-replacement-cards-and-counting/

Can we trust Ari Melber to explain the legal case against POTUS?

Miracle:

James Shaw Jr takes AR 15 away from terrorist so he won’t reload and kill everyone.

Afgan vet gets first ever operation restoring his privates

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Rich rigged STATE tax systems too

The rich have rigged the state tax systems too

New study says that "virtually every state's tax system is fundamentally unfair, taking a much greater share of income from low- and middle-income families than from wealthy families." It added that state and local tax systems are "indirectly contributing to growing income inequality by taxing low- and middle-income households at significantly higher rates than wealthy taxpayers."

In other words, it said the poor paying more and the rich paying less. Overall, the poorest 20 percent of Americans paid an average of 10.9 percent of their income in state and local taxes and the middle 20 percent of Americans paid 9.4 percent. The top 1 percent, meanwhile, pay only 5.4 percent of their income to state and local taxes.

States where taxes hit the poor hardest: WA, FL, TX, SD

It’s time we used the IRS code to benefit us: http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

Get Tax Refund in two weeks! File taxes for free using easy online efile screens

IRS announced that taxpayers can begin preparing their returns using the Free File system on Friday, Jan. 16. Available only at IRS.gov, Free File offers two filing options:

• Brand-name software, offered by IRS’ commercial partners to about 100 million individuals and families with incomes of $60,000 or less; or

• Online fillable forms, the electronic version of IRS paper forms available to taxpayers at all income levels and especially useful to people comfortable with filling out their own returns. E-file, when combined with direct deposit, is the fastest way to get a refund. It costs nothing for those who choose Free File.

Your refund can make you a millionaire: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

Walmart gives cash for tax refund approval

Using its in-store tax preparers, the store will give you the cash as soon as you are notified that the IRS has approved your refund—2-3 weeks. Walmart is hoping you will spend the refund in their stores. They may not charge for this convenience but there will be a charge for tax prep. Wal-Mart’s plan is in direct competition to commercial preparers that offer checks as loans against your refund. Check-cashing outlets then offer cash for another fee. This is a very expensive way to force yourself to save. Easier way: http://www.amazon.com/Wealth-Builders-Tool-Kit-wasting/dp/1449913059

GOP Crazies

Boehner sent out tweets to his followers with Taylor Swift GIFs. Responses said:

I know @SpeakerBoehner thinks the Taylor Swift GIF thing is funny, but it makes me feel like the republic is in serious trouble. Boehner wants to remind the U.S. that the initiative would cost "60 billion dollars over 10 years." Obama wants to provide a free community college education to millions of students. At 6 billion a year, this is probably a better idea than spending $25 billion annually maintaining unused or vacant federal properties.[3]. A child born into a poor family has only a 9 percent chance of getting a college degree, but the odds are 54 percent for a child in a high-income family.

Members of Congress have spent hundreds of thousands of taxpayer dollars supplying their offices with popcorn machines, plasma televisions, DVD equipment, ionic air fresheners, camcorders, and signature machines -- plus $24,730 leasing a Lexus, $1,434 on a digital camera, and $84,000 on personalized calendars.[21]

6 billion invested in the next generation of tax-paying workers sounds good to me. 

Romney blames Obama for inequality—“rich got richer” under Obama?!

Romney will end that???

Mitt Romney stressed the need to sharply reduce poverty in America Friday night during a speech to members of the Republican National Committee. “Under President Obama, the rich have gotten richer, income inequality has gotten worse and there are more people in poverty in American than ever before.”

This is the guy with an elevator for his cars!?! He used to say he does not worry about the 47% who pay no taxes—the poor. Which does he believe?

Poll says 59% want Romney, 50% want Bush, 29% Christie.

Jindal uses Fox slam on Muslims in Europe

GOP candidate Jindal tells London audience that there are whole cities "where non-Muslims simply don't go in," in particular the city of Birmingham in the United Kingdom. The idea of "no-go zones" sparked controversy last week when a Fox “News” commentator raised the prospect of areas in France, Britain, Sweden and Germany where those countries' governments "don't exercise any sovereignty," and instead are run largely by Muslim immigrants.

Paris planned legal action because the city's honour was "prejudiced" by Fox reports that wrongly suggested areas of the city were "no-go zones" that were closed to non-Muslims.

Fox “News” now retracks their made-up story about Muslims.

GOP love affair with Putin over?

Almost-VP-Mrs Palin and Mayor Giuliani were applauding Putin in March 2014. Ben Carson and Pat Buchanan love Putin’s dictatorship. Palin said: "People are looking at Putin as one who wrestles bears and drills for oil. They look at our president as one who wears mom jeans(?) and equivocates and bloviates.” Watch Rudy “Freedom is about authority” comment as he praises Putin as the embodiment of manly leadership. Now, Putin is pushing harder on Russia’s richest citizens to repatriate offshore assets amid a slump in the ruble and the imposition of sanctions by the U.S. and the European Union. Giuliani says that Putin doesn't waste time when he needs a decision: “that is what you call a leader”. True. Dictatorships are more decisive for the dictator and friends.

DEM crazies

Obama wants to tax the wealthy to pay for working family tax credits and education. He would increase tax on their capital gains to the old Reagan levels. Romney on board? Biden is now being shot at. U.S. Secret Service said Sunday that multiple gunshots were fired from a vehicle near the Delaware home of Vice President Joe Biden on Saturday night.

1% wealthy own 48% of all world

The wealthiest 1% will soon own more than the rest of the world's population, according to a study by anti-poverty charity Oxfam. The charity's research shows that the share of the world's wealth owned by the richest 1% increased from 44% in 2009 to 48% last year.

Are you in a state with declining middle class?

As the gap between rich and poor expands, there are communities where wages are falling and lack of jobs is increasing even as the national numbers improve. Do you move or change?

http://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Fidelity caught overcharging clients

Regulators fined Fido $350,000 for overcharging more than 20,000 clients a total of $2.4 million from January 2006 to September 2013. Fidelity inappropriately charged for certain transactions in fee-based accounts in its Institutional Wealth Services group.

Avoid Wall Street charges that can take up to 63% of your funds: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Do you get a tax credit for using ObamaCare?

If you received the benefit of advance credit payments, you must file a federal tax return and reconcile the advance credit payments with the actual premium tax credit you are eligible to claim on your return.  You will use IRS Form 8962,Premium Tax Credit to make this comparison and to claim the credit. If your advance credit payments are in excess of the amount of the premium tax credit you are eligible for, based on your actual income, you must repay some or all of the excess when you file your return, subject to certain caps.

If you purchased your coverage through the Health Insurance Marketplace, you should receive Form 1095-A, Health Insurance Marketplace Statement from your Marketplace. You should receive this form by early February.

Form 1095-A will provide the information you need to file your taxes, including the name of your insurance company, dates of coverage, amount of monthly insurance premiums for the plan you and other members of your family enrolled in, amount of any advance payments of the premium tax credit for the year, and other information needed need to compute the premium tax credit.

Using tax preparation software is the best and simplest way to file a complete and accurate tax return as it guides individuals and tax preparers through the process and does all the math. Electronic filing options include IRS Free File for taxpayers who qualify, free volunteer assistance, commercial software, and professional assistance.

For more information about the Affordable Care Act and filing your 2014 income tax return, visit IRS.gov/aca.

Instead of building your insurers' reserves, build your own reserves 

1. Create a tax-FREE Wealth Reserve.
2. Accumulate $1,000,000 with NO taxes--EVER.
3. Use the IRS tax code just as insurers do. 

Most of us don't realize that we can self-insure ourselves. We can save $3,000 every year on our financial services. We can use that $3,000 to build a tax-FREE fund to help protect us from losses. This fund, I call a Wealth Reserve, can cover our deductibles and loss expenses. As this fund grows, it becomes our loss reserve and eventually replaces life insurance, long-term care insurance, and guaranteed annuities when we need them. Most businesses 'Go Naked': they buy protection for large risks only. They avoid coverage for smaller charges.

We build OUR reserves instead of our insurers' reserves and Save.

http://www.amazon.com/Go-Naked-Self-insure-Save-every/dp/1507648308

Quote for the times

Good Catholics don't have to breed "like rabbits," the pope said. Pope Francis discussed contraception and family planning during a mid-flight press conference on board the papal plane while flying home from a five-day trip to the Philippines. He has a plane?

What can we do about this? Why no safety switch?

A 9-month-old northwest Missouri boy is dead after being accidentally shot in the head by his 5-year-old brother. The 5-year-old found a loaded .22 caliber handgun and fired it.

Who owns your account now?

City National, the Los Angeles-based banker to the stars, was sold to Royal Bank of Canada

SCAMS           Why are we still paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges!

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.

Tax refund scams at tax time

Any one of these five things is a tell-tale sign of a scam.

The IRS will never:

• Call to demand immediate payment, nor will the agency call about taxes owed without first having mailed you a bill.
• Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
• Require you to use a specific payment method for your taxes, such as a prepaid debit card.
• Ask for credit or debit card numbers over the phone.
• Threaten to bring in local police or other law-enforcement groups to have you arrested for not paying.

Report the incident to the TIGTA at 1-800-366-4484 or at www.tigta.gov.

Patriots cheated for what?

Deflating the balls is against the rules. Now more fans think there will be an * asterisk after every win. Surely the Super bowl will be marred in fans thinking. Referees touch every play but never said anything. Little advantage but huge downside!

The Patriots are guilty of this, and they are guilty of being one of the best teams in football for the past 15 years.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Great financial future?

++Will you have a GREAT financial New Year?

++Set and reach money goals. 

++Set-up a tax-FREE investment account. 

++Buy and hold 10 mutual funds all your life.

      The greatest impediment to financial freedom is debt. Most of us live paycheck to paycheck. Freedom from our chains of lifelong payments requires immediate action.  When you pay $161 per month for 10+ years on your credit card balance of $10,050, you will spend at least $19,360. You pay almost double for that same $10,050! 

       I will show you how to be on the other side of the deal--collecting $20,000 for your investment of $10,000. It takes only 1 hour to set it up. By Dan Keppel

http://www.amazon.com/Financial-Future-Insurance-mutual-funds/dp/149355204X

ObamaCare signup deadline moved from Dec. 15 to Dec. 23

In 2012, 27 percent of young adults (ages 19 to 34) lacked health insurance, although the rate varied widely from state to state, according to a new Census Bureau infographic, "The Young and Uninsured in 2012." Texas has 38% uninsured young adults while MA has 8%.  http://www.census.gov/how/infographics/young_uninsured.html

Oklahoma’s individual and small group health insurance markets were offered early policy renewals. 

Small business enrollment is delayed one year. Businesses will still be able to shop for plans at the federal website healthcare.gov beginning in December; they just won’t be able to sign up their employees using the system. The change may have a minimal effect since many small businesses already rely on agents and brokers for insurance at group rates.

Are you saving enough for retirement?

Just 56 percent of women express confidence that they’re saving enough for retirement, compared to 65 percent of men, according to a recent survey from TIAA-CREF. Women surveyed believe they would be more likely to change their savings and spending habits after receiving financial advice, but nearly half say financial advice will cost more than they can afford – and one in three say they don’t even have the time to look for help.

Advisors can take up to 63% of your total retirement nest egg. Simple alternative that Warren Buffett uses assures you keep more: http://www.amazon.com/Warren-Buffetts-Investment-Secret-Steeple/dp/1484189809/

Study says a picture of future wants helps us save more

Harvard economist Sendhil Mullainathan studies how people save money for the future. He found that we save more when we have a picture of what we want to buy in the future. This helps us remember why we are saving and avoid impulse buying. Credit cards make it easy to buy so it is harder to wait. People don’t want to wait until they have the money. But waiting allows us to filter out those items that are just passing fancies. Automatic investing is the greatest help in saving, according to his study. We never have to think about sending a check if our investing amount comes out of our check right away automatically. Other tips: http://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223/

You don’t need Black Friday to find bargains on insurance and investments

*Save on all financial products and services.

*Avoid taxes and fees.   Let your money compound. 

*Cut out the middleman/woman. 

*Buy only what you need.

     The best guarantee of lifelong security is having money. We grow our savings in a tax-FREE investment account. It assures us of money when we need it. We stop paying unnecessary taxes. We avoid overpaying for products and services by buying only what we need directly from manufacturers, not salespeople. 

http://www.amazon.com/Get-What-You-Pay-financial/dp/1492384100/

Study shows advisors often sell higher-cost products

Harvard economist Sendhil Mullainathan hired actors who pretended to seek help from financial advisors. Those with solid investments in low-cost funds were advised to switch to some undiversified high-cost funds. Incentives are good for advisors and bad for investors. We can do low-cost investing ourselves and earn over 50% more: http://www.amazon.com/Your-Wealth-Account-Tax-FREE-Income/dp/1493761277/

SCAMS           “Deficits don’t matter” Republican Godfather, Dick Cheney, 2002

Bush wars increased the debt by $4-6 trillion to $16 trillion. 1985 debt $3 T, same as 1945.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Do you have enough for retirement?

This is the BIG question many people over age 55 ask their advisors.

Most people over age 55 have no idea if they will have enough saved to be able to quit working and live on the income from their nest egg. They may live another 35 years. Most advisors don’t know the answer either.

There is a simple answer: $5.55 a day.

This is the amount necessary for you to have an additional Wealth Reserve of $150,000 in 20 years. BOTH of you can make the $166.67 monthly contribution and have $300,000. It would take doubling that again—$666.67 a month—to reach $300,000 in less time—15 years. Time is the key factor in compounding your money.

EVERYONE needs more money in retirement because of increasing expenses. Most people need their Social Security income too. That income is now in doubt. Our Treasury Department contends that changes are inevitable, because the program seems likely to become insolvent in 2041. Most policymakers seem to agree that, if benefits must be cut, the cuts should affect higher-income workers and retirees before they affect lower-income workers and retirees. Treasury wrote a new “progressive benefits reduction” analysis. treasury.gov/press/releases/reports/ssissuebriefno.%205%20no%20cover.pdf

Everyone can invest $5.55 per day—that’s a cigarette/coffee or a 15 mile trip. Some people can afford to double that. If you can add more, fine. Unless your joint income exceeds $169,000 in 2008, put the money in a Roth IRA. The earnings—$150,000 less $40,000 deposit—are not taxed. There is no income tax, ever. That adds 25% more to your balance. Unlike pensions, regular IRAs, insurance, annuities and savings, there is NO tax or fee. You get to use all your money! irs.gov/publications/p590/index.html


Do you have enough for retirement? NEVER

Ask anyone who is in retirement today. Bread, milk and eggs went up 20% so far. Health care and long-term care expenses are rising. How long will the young people want to pay for our Social Security if it will end before they use it?

Set up an account for you and your spouse in 30 minutes using our members’ strategies: http://www.theinsidersguides.com/freeguide.html

Make Your Grandchild Wealthy With $1000

Make Your Grandchild Wealthy With $1000:
A Grandparent’s Guide to Making your Grandchild a Millionaire

In the decades ahead, as a result of mortality and inheritance, an estimated $20 trillion will be passed to the next generation.

How can we provide for our grandchildren in the best way?

1. We can provide a way for our grandchildren to grow into controlling money so they know how to benefit from it.
2. We want to avoid taxes for ourselves and them as much as possible.

The Best

Invest early and often. This is the most important advice every grandparent has for the younger generation. Those who are lucky or wise enough to follow this advice turn out to have a happier life by any measure. You may not be able to convince your loved ones of this common sense. Even some of our best schools now understand that this lesson needs to be taught to all, early, just like sex education. Speaking to individuals about their money is the last taboo our society has yet to confront. Unlike sex education, our culture has to make a commitment to make this education universal.

Until it does, you may be able to actually make this happen for your grandchildren as your legacy.

$1,000, invested at birth can be worth about $1,233,274 at age 65. $3,000 at birth can get them about $3,699,823. $5,000 can become about $6,166,372. That is worth about a $1,000,000 in today’s purchasing power.

How cool would it be if you made it possible for them to not have to worry about their retirement? Social Security? You don’t know what the future will bring. You DO know they have a lot of time before retirement. You have the ability to help them get a jump on things. They get a head start on their way to a comfortable life.

If you started them out early, they will have already seen the power of compounding by the time of their first job. Compounding can turn that $1,000 or $5,000 into their lifetime security fund. They can start their Roth IRA or company Roth IRA and know how to earn 12% on their money. Some mutual funds holding stocks have earned 12% historically. At their job, they can contribute $3,000 a year ($120,000) and have another $1million tax-FREE to assure them of long-term care if they need it.

One advisor said: “Obviously, starting early for grandchildren might make all the difference for the next generation. This might become a financial legacy that the present generation can give to the younger generation without leaving assets in a will. But for you and me, the hard fact is that it is TIME and not anything else that we can currently change, that makes compounding work. Look at what a single gift of $1,000 at birth can do for a child.”


Baby's Birth $1000
Age 10 $3,000
age20 $10,893
age 25 $19,788
age 30 $35,950
age 65 $2,347,857

“WOW! That is amazing. Even if they start investing later in life, they can’t make up the time by putting in a little more money, or following advice to ‘buy low, sell high’ or to ‘pick winners and let them ride’?”

Another way to look at this Gift of a Lifetime is that your $5,000 investment before age 5 could allow your grandchild to have what I call a “Wealth Reserve.” They would have a Wealth Reserve of about $50,000 by age 22. That would allow them to start a home, business or go to graduate school if they like. You have the peace of mind of knowing that you have provided the financial foundation for their entire life. If they don’t spend it right away, they can avoid interest expenses when they buy things on time and have enough to insure their retirement needs.

A Wealth Reserve can help your loved one “self-insure” their insurance needs. They can buy insurance and other financial services for less because they have a reserve that covers the high deductibles of insurance policies. They insure for the catastrophic risks like businesses do. They pay less in premiums and fees because they have the reserves to cover the smaller expenses.

In the past, parents and grandparents purchased small insurance policies on their loved ones in the mistaken belief that an insurance policy provides for their financial foundation or guarantee of their future insurability. Neither of these beliefs is true. Sometime in the past these solutions may have been useful to young poor families but not lately.

Child mortality was high when you grew up. Insurers came to collect pennies each week from your parents to pay for a $1,000 or $5,000 death benefit. These small policies provide little benefit when they might be used some 85 years later. I recently cashed mine in for a couple of hundred dollars. Even cremations cost more than the total death benefit today.

Today, almost any child will be insurable by the age they need to have life insurance to protect those who depend on them for financial security. There is no benefit to purchasing a policy at birth to maintain insurability, as some carriers contend. When your grandchild gets married and needs insurance to protect their family, they will need a lot more coverage than the best of the child policies. Also, many employers now provide life insurance, even if your grandchild has a medical condition that would require a higher premium for coverage. The employer’s group rate takes this into account since employees do not obtain full underwriting.

Wouldn’t it be better to provide a Wealth Reserve of about $36,000 at age 18 for your grandchild’s college expense? If they are not interested in college, the $50,000 at age 22 would help them start a business or buy a home or at age 65, provide a pre-paid retirement.

The best part: You don't have to be wealthy to act wealthy. Give $1000 today. We show you how to start.

Find more about The Gift of a Lifetime at
http://www.theinsidersguides.com/gigiofli.html