Need a graduation gift?

Need a graduation gift?

The greatest gift you can give is financial knowledge. No matter how much your young graduate makes, it is up to YOU to show them the Buffett investment strategy. Make sure they can make and manage money. At my first job, I had no clue which investment to use for my 401k contributions 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 about $150,000 instead of a Wealth Reserve of $877,233 about 33 years later.

YOUR choice: https://www.amazon.com/Give-child-leg-up/dp/1096505355

The BIG Con: Earn up to 7% with NO MARKET RISK

Looking for the Highest Guaranteed Return?

This is the current misleading ad from an annuity marketing firm. The insurer is not mentioned—for good reason. The best REAL rate is 4.3% but you must keep your money locked up for 10 years or pay the surrender charge. See the disclaimers: * Effective yield displayed. First year rate is higher than subsequent years.** Rate may be lower in certain states. Only a gimmick or trick from a carrier could show a pretend rate of 7%. But this is the only way salespeople can get your attention. Unbiased information is not easily available because most annuity contracts are complicated. 7% may be the ‘potential’ return for a SINGLE period like monthly indexed annuities. However you need to be an actuary to figure out how the terms of the contract will produce your real return. When I was in the business, we only cared about the commission to us and how brokers/advisors could push the sale to clients. None of us understood the actual calculations. But people will buy anything when the alternative is a 3% CD and a volatile market.

It doesn’t have to be that way: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Liberty Mutual claims it customizes Mr Landry’s special needs coverage: https://www.youtube.com/watch?v=qQnbL_5ZgbY

Every insurer claims “you only pay for what you need” and then they go on to include in their ‘standard policy’ a bundle that includes life, disability, accidental death, funeral, extraordinary medical, income loss, medical payments coverage, and medical insurance. But most people already pay for these coverages. Your premium is not usually itemized so you don’t see they add charges for towing and rental car loan and insurance as well as accident forgiveness, waiver of depreciation, full replacement if totaled, uninsured /underinsured motorist coverage, family protection coverage, mechanical breakdown coverage, gap insurance, ‘stacking’ and many other things. For instance, if you are insuring an older car you may not need comprehensive coverage. You also may NOT be told about all of your insurer’s discounts or their complaint history. Remember, the commissions and profits are determined by the premium you will be paying for the next 20-30 years. Every insurance company can ‘customize’ your coverage to pay less if you know their discounts and your ‘needs.’ Cancel double coverage you don’t need.

Save over time: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Bull market took 10 years to recover but what could you do about 2007-8?

Jeff Sommer writer of ‘Strategies’ in the Times, noted that it took a rise of 100% after a 50% decline and so we should learn that “avoiding big losses was probably more important than reaping big market gains.” YES, but how Mr Sommer? He didn’t tell readers in Nov 2007 that the market would drop and so get out. No one did. Sommer advises us to look at longer periods to understand what the stock market can do for our expectations. We don’t have to use the ‘artificial’ calendar cut offs to gauge performance. I don’t think any of us or our advisors can predict the future so I refer him to the graphic by Richard Bernstein or the chart by DALBAR showing that our best deal is a low-cost index tracking the S&P 500. Yes there are ups and downs but I will take 10.98% a year since 1976. No other asset can claim that record: Govt bond 7% since 1980; Corporate bonds 8% since 1973; Commercial real estate 10.23% since 1996; Gold 5.5% since 1993; Commodities 4.2% since 1993. Owning the 500 Index is what Warren Buffett advises.

Either 3.79% or 11%: https://www.amazon.com/Win-Investment-War-Earn-11/dp/1522916369

Is this socialism?

Trump is giving $15 billions MORE to farm corporations so they make their profit goals.

Farm subsidies go to 5 crops mostly. Large agribusiness corporations not family farmers capture most of the $ billions. It is the marginal family farm that will be hurt by Trump’s tariff war with China. His GOP friends in Congress benefit directly from this type of socialism. There are no tariff offsets for small businesses like your local bike shop. Another type is giving profiteers federal land so they can ‘steal’ our oil/gas. We earn much less in royalties than the private landowner.

Another type of socialism is the Export-Import Bank where our largest corporations receive taxpayer-backed cheap loans they don’t need to make more for shareholders. 

Another type of socialism is the price fixing that Congress allows to go on in the drug industry. We allow the drug companies to collude to raise prices on even the generic drug business the government established in 1984. Most new drugs are actually created by the National Institutes of Health (NIH). U.S.-based foundations have increased their investments in discovery and development for new drugs specific to their diseases of interest. After we pay for the research, the drug companies pay for testing and distribution (nightly TV advertising too). The government gives companies the legal right to make $ billions on each drug. After 20 years the drugs are supposed to be supplied by the generic industry at lower cost. This isn’t what happens. Congress allows Pharma to manipulate the process. Studies looking at cancer treatments have shown no correlation between the price of cancer drugs and the benefits they provide. We pay more for drugs—even 8,281% more for generics—than the rest of the world. Our government won’t bargain with Pharma on price so they are free to gouge us. I pay $15 for one Januvia pill here and $4 in Canada. Which should we pay?

The end result is socialism for the rich: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584

Do you see a pattern investment strategy here?

This is the new Callan Periodic Table: https://www.callan.com/wp-content/uploads/2019/03/Classic-Periodic-Table-2019.pdf. I hope you can see a pattern but I sure can’t. If you knew what was on top in 2019, you could put all your chips there. But most of us don’t know. Others guess. Others read lines and charts and say they know. But they are paid to say they know. And even the most successful investors don’t know. So what can we do? Warren Buffett and John Bogle say, don’t try to find the needle, buy the haystack. But it can’t be that simple since a whole industry is devoted to finding that next big thing. And some of us pay them to do it even when they fail.

https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

How do you judge your broker/advisor?

Are they providing the best advice possible or just OK? How do you know? How do you measure your success? Which benchmark do they use to show you how well they are doing? You know they must be paid but how are you paying them? Like every vendor you hire, you don’t want to get cheated. Unfortunately, only now is the industry starting to identify the bad brokers/advisors that move from firm to firm. John Bogle, founder, Vanguard has created low-cost investing so that we don’t need to give up 63% of our total possible accumulations because we pay too much. The actual returns of managed equity accounts have been tracked over time. DALBAR’s annual study shows we average investors earn only 3.79% on their money compared with the 11% from an index. You can end up with $854,000 or $220,000 for retirement. This is why the industry has changed. People need to hire a financial specialist like they hire a lawyer NOT like a cable firm’s monthly retainer. When we have a problem and need advice, we get it in a couple of meetings. Most of us do not need to pay 1-2% of our portfolio every quarter so that our advisor can tell us how we are doing. We can see it ourselves in our statements and strategies. Learn how to judge. Pay less; earn more: 1% or 0.04%?

Hey, it’s your money: https://www.amazon.com/Buffett-Strategy-854-000-not/dp/1978481020

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

Make America, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions? quetiapine and clozapine

Truth isn’t truth, his lawyer says

“The campaign -- for him -- was always a marketing opportunity.”

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

Will voters who need ObamaCare vote for it?

Can a mob boss snub Congress’ subpoena?

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

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

Tariffs cost family $767 annually—exactly the 2018 tax break to average family.

Rubio enlightens Trump on China trade: CEOs make deals not Trump: Follow the $s.

Senator tells witness to violate the law: GOP backs Mob Boss to defy Congress.

Broker regulators just now propose warning investors about bad brokers & firms???

Trump use war to win 2020 election? GOP leaders never heard of Iran & war ships.

Trump to pay Taliban terrorist’s travel expenses: Really?

SCAMS/SPINS:

Trump celebrating HIS birthday this 4^th—it’s all about the Boss like Kim in N Korea

Trump tells Boeing just to rename the 737 Max: “consumers have very short memory”!

Pence commencement speech challenged as students object to WH policies of hate.

Trump goes on attack (best defense is offense) against law enforcement: FBI, CIA, Spys

FL counties 2016 votes in doubt now: will Russia decide 2020 election? Trump win again

Trump let’s banks charge $35 for accidental overdraft: reversing Obama

Trump cutting Pell Grants for college education: sending money to the moon.

Melting global ice pack allows more trade opportunities for Trump’s Mob, he says.

Coal industry changing our species and habitats forever thanks to Trump’s Mob

Private wall builders blame liberals for not using $20 million to build Trump’s wall.

Boeing ignored pilot warning about 737: killed 189 and then 157 and claims safe

Trump decides which products/firms he wants to win: he gives his tariff breaks to them. 

Debt collectors want no restriction on calls/week or emails/texts intimidation. Trumpism.

TurboTax, Block, others in IRS FreeFileAlliance hid the free option so we pay more.

Roundup weedkiller jury asked to give cancer victims $1 billion: Bayer hid health risks.

Child abuse inside Scouts sends BSA into bankruptcy? 5,000 perversion files ignored?

The Mob Boss can never go to jail: Trump has Kava as Supreme so no contempt.

‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Supremes protect Don’s ‘Orders’? – GOP: ‘Sure, prez can change Constitution anytime.’

Jobs:

Elderly Are Twice as Likely to Work Now Than in 1985: Everyone is poorer

Insider attacks were responsible for most healthcare data breaches: Dr have BIG loans.

Tariffs cost over 934,000 jobs lost.

Boarding homes for singles are back: Earn helping others in need!

23 apply for President: too many so Trump wins again?

Who owns your account now?

Why we return so many electronics: can’t get started to use: no user help, etc.

Can Trump stop surprise medical billing? Some Dr you never met bills you. $17,850!

WA first state give residents public option health care plan but run by insurers: 1^st in US

United Capital Financial Partners to Goldman Sachs Group

Miracle:

Do we have to give guns to all high school children to protect them from other students? 

Habitat for humanity owners get financial help from real planners in NJ

AL has turned back time to 1960s when no abortions even if raped by a relative. Move.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Foreign governments buy our "reps"

This is why our “representatives” can’t fix the railroads, bridges, roads

Foreign governments secretly buy our “reps” by giving money to “not-for-profits” who then pay for goodies. Congress people can say “I didn’t know.” Azerbaijan (N of Iran and E of Turkey) and several large energy companies sought exemptions for a $28 billion natural gas pipeline project in the Caspian Sea from U.S. economic sanctions being imposed on Iran. This is how our “reps” make decisions; not what is best for us.

When did you last buy your “rep” gifts to get a better deal for your family?

Perfect Graduation Gift

Every parent and grandparent has the same advice about achieving their money goals in life—I WISH WE HAD STARTED INVESTING SOONER. To get them started, they need to know why the greatest investor of our time Warren Buffett credits the Miracle of Compounding, NOT stock picking, as the reason for his wealth. Your graduate can turn $8 a day into a $250,000 Wealth Reserve in only 21 years, $1/2 Mil in 27. Einstein said, “The most powerful force in the universe is compound interest.” Their wealth can double every 7 years because of compound interest. Help them be successful: http://www.amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326

Take your maximum SS benefits before the GOP cuts them!

Top contenders for Prez want to limit our payout so make sure you get yours now. EG: John took 3/4ths benefits at age 62 because he had no job. His wife Liz was still working and wanted to go for the maximum at age 70. Liz filed for John’s spousal benefits at her full SS age of 66. Liz kept her own benefits growing with higher wages each year and at the same time, collected ½ John’s full benefits. This way John got his full benefits even though his SS amount will be reduced for the rest of his life. So together in 2013 they received $2,564 a month instead of just $1,542. When Liz turned 70 and still wanted to work, she received her max benefit. In 2015, she receives $2,709 and John receives his inflation-protected $1,580(-$100 tax) a month—annually $51,468—perhaps $1,411,360 over 20 years. Each year that Liz works, her SS benefit will increase as she adds another high-earning year to her SS account base. Her new benefits are recalculated each year on her new 35-year PIA base. Of course, because she and John have other income, they must pay tax on up to 85% of those benefits. Both were in lower-paying careers.

Take ALL your benefits before GOP does: http://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

DEM crazies

Bernie Sanders will never be President but Americans love his policies. Health care without the F***ing paperwork, path to citizenship, fair tax for wealthy, bring troops home, break up banks, 2 years free education, cut corp election buying, tax carbon emissions, and use common sense again. Bernie even has simple solutions to the future SS benefits problem without GOP cuts. Bernie is a NOT Congressional millionaire and has no corporate donors so he can NEVER be Prez. Supremes decided cash buys winner.

Obama gives “green” to Shell to drill up Artic ice—Ms Palin can watch drill baby drill

Sign of a new direction or new gig for Obama after 2016? The Interior Department decision is a devastating blow to environmentalists, who have pressed the Obama administration to reject proposals for offshore Arctic drilling. Environmentalists say that a drilling accident in the icy and treacherous Arctic waters could have far more devastating consequences than the deadly Gulf of Mexico oil spill of 2010, when an oil rig explosion killed 11 men and sent millions of barrels of oil spewing into the water.

Do we need this oil now?

GOP crazies

Huckabee says he will not cut SS or Medicare but he shared no details—just trust him?

All the rest GOP want to cut benefits and give more to donor corporations/wealthy. GOP thinks the money we paid forward for these benefits are really “entitlements” like welfare, food stamps and corporate subsidies they change every year. The millionaire Congress still thinks we did not earn our benefits because we don’t have a big bank account like they do!

Bush III will use W (WMDs) as his guide on Middle East policy!?

Is he serious? Bush II was the one who invaded Iraq on false pretenses and fell for the BS about Saddam helping 9/11 terrorists. W’s people said invasion over in weeks and won’t cost us a single soldier. Iraq is the 2^nd longest war in US history after Afghan and has cost us 4,500 lives plus $3 TRILLION some of which went to Cheney’s Halliburton firm. Iraq lost 200,000 lives so far.

TX gone to the dark side?

Has far-right paranoia finally taken over a whole state? http://www.washingtonpost.com/news/checkpoint/wp/2015/05/05/watch-jon-stewart-rip-reaction-to-jade-helm-15-the-military-exercise-spawning-conspiracy-theories/

Christie can’t escape (“I didn’t know what staff doing”) his scandal in NH

NH pub audience asks how he could not know what his secretary is doing. Commentator asks isn’t revoking Social Security a Madoff-type “bate and switch”? Christie yells him down. Christie has given teachers’ pension money to his political supporters as “investment management fees”--$1.5 billion since 2010—double the usual rate—and still underfunded. He uses NJ state credit card to buy $76,373 in snacks at Wegmans Food Markets in 53 shopping runs and $82,000 at MetLife Stadium and NJ policy helicopter runs to son’s games. He vetoes environmental cleanup bill after taking EXXON’s $200 million instead of $9 billion judgment.

GOP budget includes repeal of ObamaCare with NO alternative for millions

Congress adopts a budget that will allow Republicans to repeal or revise ObamaCare. GOP set-up for failure in 2016?

We are given entertainment as “news”

It appears that our media industry has learned that there is money in “news” as entertainment. Most of what we call “news” is really HALF lies. Only the politically active takes “news” seriously—anchoring their political views in an aura of “facts.” America went thru the McCarthy period with politicos using “facts” to crucify the other side. We are there again. No one is looking out for America as America.

Is a hedge fund investment right for you?

Hedge funds are supposed to be where the big money sits, but their investors are NOT so happy now. Your pension money may be making the managers rich but that doesn’t help you. The top 25 hedge fund managers reaped $11.62 billion in compensation in 2014, according to Alpha magazine. Your pension fund would have earned 13.5% and 11% long term if they had stuck with a simple low-cost market index. "Professional money management is a gigantic rip-off," according to money manager Bill Gross.

You keep more when you pay less: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

CR’s 5 best and worst picks—has your ride arrived?

I don’t see a Buick.

Is a certified non-commission advisor at 1/3 the cost right for you?

Vanguard has slashed the investment minimum for its Personal Advisor Services program that combines a human financial advisor and online features. Instead of the $500,000 minimum Vanguard requires only $50,000. A Vanguard financial advisor discusses your financial goals, time horizon, and risk tolerance. A certified advisor creates a custom-tailored financial plan consisting of a portfolio of Vanguard mutual funds and exchange-traded funds. The annual fee is 0.30% of your assets, plus the fees for funds contained in your portfolio. Admiral Share funds cost between 0.05 to 0.19 percent. Vanguard will limit the all-in costs to roughly 0.45 percent.

Pay less—keep more: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Was your child paying half of your support when they passed?

You can collect a parent SS benefit of 80% of your child’s future SS benefit. Even if you are receiving your own SS benefits, you can collect the larger of the two amounts. Check https://www.socialsecurity.gov/forms/ssa-7.html or call 1-800-772-1213.  

Zimmerman gets shot this time—FL menace?

Zimmerman was involved in more gun violence this week. After getting off for killing an unarmed black teen going home from the store, Zimmerman was shot by another driver who he had had some dispute with before. Violence seems to be his way.

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.

We are building another military base for Japan at Henoko. Air Force Gen. Ronald Fogelman admitted that the Marines “serve no military function there. They don’t need to be in Okinawa to meet any time line in any war plan.”

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 to defend themselves.

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. The troops we trained ran away. Former Saddam army now ISIS. We are wasting $4 billion a year on Afgan tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our money.

BoAmerica gives Justice Dept B.S. instead of mortgage relief

Patti Coleman, a Florida borrower, received a letter from Bank of America this year. In it, the bank told Ms. Coleman it was pleased to approve her “for a full principal forgiveness” of $54,732 in a home equity line of credit. Citing the Justice Department settlement as the impetus for the letter, the bank said she would “no longer owe” that amount. But Ms. Coleman has not owed this money since she filed for personal bankruptcy in 2010. “In my Chapter 7 filing, the debt was extinguished,” she said in an interview on Tuesday. “They can’t come back to me and try to collect.” There are many cases in which Bank of America ends up claiming credit for such loan forgiveness actions under the Justice Department deal.  The bank receives extra credit under the settlement — more than one dollar for every dollar of loans “forgiven.”

G.M.’s Ignition Switch Death Toll Hits 100—murders that GM got away with!

The toll far exceeds the 13 victims that G.M. had said last year were the only known fatalities linked to ignitions that could suddenly cut off engine power and disable airbags.

And as the number of victims mounts, the ignition-switch crisis is cementing its status as one of the deadliest automotive safety issues in American history. There are still 37 death claims and 589 injury claims that are under review, the fund said. The new GM says it is not liable for the deaths since the old GM went bankrupt.

Greatest murder cover-up in auto history.

Nationwide is “on your side” until it cost them money

Nationwide Mutual Insurance, whose slogan is “on your side,” will pay regulators $8 million fine because it delayed orders and changed the price of your mutual funds AFTER your purchase.  

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Why celebrities have money problems

Kareem Abdul-Jabbar says, I Hired an Idiot to Manage My Money

Do you ask your family/friends for advice? Watch out!

 “I chose my financial manager, who I later discovered had no financial training, because a number of other athletes I knew were using him,” he wrote. “That’s typical athlete mentality in that we’re used to trusting each other as a team, so we extend that trust to those associated with teammates.” This type of thinking extends into everyday advice, when friends and family offer well-meaning tips on subjects they may not be particularly informed on, or recommend an unqualified financial planner who has duped them into trusting them. “Consequently, I neglected to investigate his background or what qualified him to be a financial manager,” Abdul-Jabbar continued. “He placed us in some real estate investments that went belly up and I came close to losing some serious coin.”

Friends recommended Madoff too. 

Members rely on their own common sense: http://www.amazon.com/Do-Yourself-Personal-Finance-commissions/dp/1480156493

IRS ignores $400 billion tax evaders--goes after the poor instead!

The IRS's data-detection tools come nowhere close to collecting the $400 billion in tax dodges estimated to take place each year. The area in which its robo-audits have had the most impact is on tax returns for low-income taxpayers, especially the EITC. 

Starting this year, the IRS will track all credit card transactions. The agency has also instructed agents on using online sources such as social media and e-commerce sites including eBay, as well as the rich data generated by mobile devices. Your profile will likely include shopping records, travel, social interactions and information not available to the public, such as health records and files from other government investigators.

Unfortunately, the IRS ignores questionable euro debt swaps (unlisted derivatives) with no clear economic purpose beyond tax avoidance. Even if it is detected, agents face a team of lawyers in a Liechtenstein bank. Often, the IRS ignores this $5 million tax loss because of the low odds of collecting.http://finance.yahoo.com/news/irs-data-snares-mostly-low-171239433.html

By the way, the IRS thinks it is doing a great job: “… we continue to make our mark as the finest financial investigators in the world,” CI head Weber said. Remember, 2/3rds of corporations pay no tax because they have lobbyists in Washington.

Isn’t time you took advantage of tax laws and paid your fair share? http://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441/

Need a graduation gift?

The Simple Financial Life consists of five actions. You don't have to be wealthy or a genius to become financially independent. This book will show you how to live the Simple Financial Life: Use only 3 mutual funds to reach ALL your financial goals.
Buy the best tax shelter. No taxes ever and it's FREE. Start them out right.
Protect your family and assets with your Wealth Reserve. Borrow from your own 'bank' to pay for large purchases. Stop wasting $3,000 or more on the financial products you now own. Manage your investments in 15 minutes. Buy whatever you need at a discount. Practice the FIVE actions for financial freedom:
http://www.amazon.com/Simple-Financial-Life-paycheck-paycheck/dp/1441499326

Best performing college savings plans

You can use the best 529 plan for your child or grandchild even if you do not live in that state, especially if your state gives no tax deduction for your contributions. The best for over 10 years is Alaska’s plan. Direct purchase plans avoid broker fees so ALL your money compounds for you—up to 40% larger account.

http://www.savingforcollege.com/

Do you need monthly income from your nest egg?  The annuity alternative!

Ever wish you could put all your money in one fund for your retirement income and growth. In the last 30 years, this mutual fund had negative returns only 4 times compared with the overall market’s 6 drops. The worst year was 2008 with a downturn of 9.8% compared with the market’s drop of 39%. The overall average was a gain of 10.2% per year. Not bad since the market’s average was just 10.7%. This fund has averaged over 10% since 1970. It holds 60% in bonds for income, 40% stocks for growth. It costs just $25 vs $100 per $10,000 invested in comparable funds. The Vanguard Wellesley Income fund can provide your checking account with a fixed monthly income just like an annuity, which usually costs TEN times more. Annuities lose value over time due to inflation—your $1000 a month buys $500 worth of food in 20 years. Wellesley’s stocks keep your account growing so you can increase your monthly income without paying for another annuity.http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

What will your next hospital visit cost?

The data provided here include hospital-specific charges for the more than 3,000 U.S. hospitals that receive Medicare payments for the top 100 most frequently billed discharges for Fiscal Year (FY) 2011. “Fun” to read and avoid a visit:  http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/Medicare-Provider-Charge-Data/index.html

Check your credit reports for your parent’s old problems

I just got my annual credit reports from https://www.annualcreditreport.com/cra/index.jsp

NOT the misleading one: http://www.youtube.com/watch?v=xZ0xsF5XWfo. I found that Experian had added two old credit problems my parents had fixed years ago to MY credit report. Since they were negative reports, I just got turned down for credit. Since our “representatives” in Washington won’t make the bureaus check the misreported data BEFORE they put it on our reports, we must spend hours trying to fix it. I had to get my parent’s old lawyer involved to motivate the government agency that sent in the mistake to withdraw the error from the bureaus.

On second thought, maybe you don’t want to check your reports. I really dislike spending my time fixing their mistakes.

Penn Treaty long-term care insurer under PA plan

Pennsylvania Insurance Commissioner Michael F. Consedine has filed rehabilitation plans in Commonwealth Court for long-term care insurer Penn Treaty and its subsidiary, American Network Insurance. The rehabilitation plans attempt to address Penn Treaty and ANIC’s liabilities through benefit modifications on a temporary basis, possible premium rate increases, and several other measures. Should the companies’ assets and future revenues become more than adequate to meet future policy obligations, the Rehabilitator may begin restoring those benefit modifications. Before you buy, consider alternatives:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

Mutual fund misled buyers

Regulators have charged Northern Lights with misleading shareholders about their decisions on hiring investment advisers for the funds. For instance, the board told shareholders that advisers' fees were competitive with those of similar advisers when, in fact, they were twice as high. Fees are not clearly shown on quarterly statements so there is no way to know how much you are paying.

Billionaires’ new tax dodge—insurance!

The latest tax loophole exploited by hedge funds involves the reinsurance business. A whole host of billionaire hedge fund managers have started Bermuda-based reinsurance companies since 2011, according to Bloomberg. By sending money through these companies, the hedge funds recycle it and reduce personal income taxes and delay the eventual tax bill. Normally the managers would be paying either ordinary income taxes (39.6%) or long-term capital gains taxes (20%). Other favorites are incorporating and partnerships. These help wealthy get around the millionaire tax (AMT) that is supposed to collect 39.6%.http://news.yahoo.com/7-secrets-wealthy-people-know-133755925.html

Who owns your account now?

Aviva USA’s life insurance business to Commonwealth Annuity and Life Insurance.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Retire with tax-FREE income: Avoid tax increases

How to Retire with Tax-FREE Income: Avoid tax increases to reduce the debt

Your total return in 2012 could have been 15.3%.

Unfortunately, you will eventually have to pay tax on those earnings if they are in your retirement accounts. They could be tax-FREE.

Isn't it time you started using the tax laws to your benefit? Why not pay your fair share? 

Warren Buffett pays only 17% total tax. Mitt Romney and John Kerry pay less than 15%.

I will show you how to set up your account in one hour: http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951/

Long-term care insurance premiums up for women

Genworth, the largest producer of long-term care policies, will start rolling out gender-based pricing next month for women who apply for coverage individually, and the company’s competitors are expected to follow suit. Genworth declined to specify the amount by which affected policies will rise; industry estimates put theincrease between 20% and 40%. Women live longer and thus have more claims than men. Industrywide, women represent 60% of long-term care insurance policyholders, and account for 70% to 80% of claims. Overall, premiums have risen between 30% and 50% over the past five years as the industry corrects for miscalculations that carriers made before the financial crisis. 

Women need to understand the alternatives before paying more: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Investment plans of academics do better than corporate plans

Retirement plans for academic faculties and staffs working at higher education institutions outperform the corporate sector due to lower costs, automatic enrollments, default contribution rates and plan changes in plan design, according to a new study.

Now you can use one of the best plans available for academics:  http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

ObamaCare subsidies to middle class without insurance--qualify

The majority of tax subsidies to help Americans pay for health insurance starting in January will go to working families, according to a nationwide study to be released Thursday and obtained by USA TODAY. About 25.7 million people who fall between 138% and 400% of the poverty level — or below $46,000 for a single adult and $94,000 for a family of four — will be eligible for funds that will go directly to an insurance plan that they choose. According to the Congressional Budget Office, those subsidies will cost about $350 billion from 2010 to 2019, but taxes and savings built into the law will offset them. For more information about the exchanges, visit http://www.healthcare.gov/.

Are prepaid debit cards for you?
Many credit-weary people are picking this type of money today because general aversion to credit, lack of credit available due to stringent lending standards and lower demand due to a decline in the number of credit-eligible borrowers. Other folks baulk at the new bank fees to maintain a relationship. 89 percent of the checking accounts offered at the 12 largest U.S. institutions involve bank fees. Some like the ease of use: buy and load at any big retailer. BEWARE FEES: Shop around. Fees vary. Some banks are setting a fixed monthly fee. Activation fees can be waived if done online. ATM fees can be $3. Check this survey to match your needs:http://www.bankrate.com/finance/banking/best-prepaid-debit-cards.aspx

Are low-initial deposit annuities for you?

Insurers are hyping fee-laden low-minimum annuities to induce younger people to start making payments early. Using cool names like Guaranteed Future Income, Income Elite, Choice Index 10, and Deferred Income, insurers are salivating over consumer fears of market turmoil and the flight to guarantees. However, annuities lock away your money for 20 years or longer. Tax-deferral can be gained in an IRA. Both require taxes to be paid when tax rates may be higher. Tax-FREE Roth IRAs can be a better alternative. Despite government support for funding annuities inside employer pensions, this can be costly. You are supporting the insurer, the mutual fund complex, the plan administrator and the employer bookkeeping. All these middlemen need to eat so you may pay more than you earn on your contributions during these low-interest periods.

There are better alternatives: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

NJ, NY homeowner rates up

Rates are going up. Policy language is getting stricter. Some insurers are pulling back from the coast. But they’re not leaving the Garden State. The most obvious change is the price of some private insurance. Insurance brokers say have seen some flood-prone properties get hit with double-digit percentage point rate hikes. But less obvious is the fact that insurers are also re-tooling their policies to limit exposures, earn more money for extra coverage and create greater clarity about what is and is not covered. Insurers are starting to define a storm surge as flooding, rather than a phenomena caused by a “named storm,” such as Sandy or Irene. This reduces their responsibility. Flood insurance may run $500-$2,000 depending on the area. 

Buy only what you need:  http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Women want more financial help but professionals “not responsive”

More than six in ten women (62%) said they have an interest in learning about financial planning, retirement planning and investing according to the 2013 Women, Money & Power Study* from Allianz Life, nearly double the amount (35%) who indicated interest in these topics during the original study conducted in 2006. However, despite innovations within the financial services industry, 70% of all women said they believe financial information is hard to understand, up significantly from the 44% who felt that way during the initial Women, Money & Power Study. Women are asking for clear and simple-to-understand financial information that is available on the Internet.

The vast majority of women surveyed noted they are more concerned about attaining a retirement lifestyle than gaining specific investment guidance. Members start here: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Is a reverse mortgage right for you?

First, you need to qualify. To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.

The amount you may borrower will depend on your age (youngest borrower), Current interest rate, Lesser of appraised value or the HECM FHA mortgage limit of $625,500 or the sales price; and Initial Mortgage Insurance Premium--your choices are HECM Standard or HECM SAVER. In addition, the more valuable your home is, the older you are, and the lower the interest rate, the more you can borrow.  If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow.  For an estimate of HECM cash benefits, select the online calculator from the HECM Home Page. Many online reverse mortgage calculators can provide you with an estimate of the amount of funds you can borrow.

Less expensive home equity loans are alternative.

Rich get richer; everyone else got poorer

During the first two years of the nation’s economic recovery, the average net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.

From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896. 

We need help to build wealth. Try: Your Investment Edge

http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Is your advisor trying to get rid of you?
Here are the signs:

When your advisor starts your financial review conversations by shifting the responsibility to the firm, he may say, “we’re not doing much for you” or “the cost of doing this is probably not appropriate for you.” He may try to transition you to some sort of platform outside—such as Schwab, Vanguard or Fidelity. Some advisors with long relationships find it difficult, so the ‘boss’ might take over the conversation. Remember, advisors are paid by commissions on sales or quarterly fees from your account. If your account is not producing at least $5,000 every year, you are not profitable. You will probably receive a nice follow-up letter after the conversation.

On the other hand, Vanguard may welcome you with a nice follow-up phone call. You can probably make good use of that $5,000! Advice from licensed advisors is free and you may just need confirmation of what you are already doing: http://www.amazon.com/101-Financial-Planners-Questions-Answers/dp/1469990563

Brokers stop Regulators from making it easy to find brokers’ records

FIRNRA withdrew a proposal that would have required brokers to post a link on their websites and social media to a database containing information about their disciplinary history. Finra proposed the rule as a way to increase investor usage of BrokerCheck. Finra spokeswoman Michelle Ong said the agency withdrew the rule due to feedback it received in 24 comment letters.

Investors will have to search on their own to check out bad brokers. Members avoid Wall Street and earn more: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

See if your advisor is robbing you blind

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/retirement-gamble/the-retirement-gamble-facing-us-all/

Great graduation gift idea

Get your graduate off to a great investment plan using our iTunes app:

https://itunes.apple.com/us/app/$2-million-retirement-system/id449360218?mt=8

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

Here we go again?

Citigroup, Goldman Sachs, and Morgan Stanley preach caution, even as their bankers return to pre-crisis deals.Recently, Citi has made big bucks pushing a type of bond deal that packages together risky loans and sells them off to investors as highly rated investments. In the first quarter of the year, the bank was the biggest underwriter of collateralized loan obligations. Citi is also back in subprime -- earlier this month, it was one of the lead bankers on a $1.1 billion bond deal backed by auto loans to borrowers with low credit scores. Wall Street firms have sold nearly $30 billion in CLOs this year, more than triple what they sold in the same period a year ago. These banks are still insured by us the taxpayers. More:http://finance.fortune.cnn.com/2013/04/24/banks-risky-deals/

FL considers canceling tax breaks for financial firms

The Florida Senate is advancing plans this spring to eliminate a pair of decades-old tax breaks for banks and insurance companies. One measure would repeal a tax deduction for international banking, which critics say has become a gaping loophole that does nothing to encourage investment in Florida and primarily benefits big, multistate banks such as Citigroup and Bank of America. The other gives insurers $30 million extra for car registrations. Who knew?

American terrorists buy all their bombs from same store—no license required!

Boston Marathon bomber Tamerlan Tsarnaev walked into a New Hampshire fireworks store two months before his deadly attack and asked for the “biggest and loudest” kit — then got another set for free, the Daily News has learned. The company that sold Tamerlan the fireworks is the same one that sold Times Squarebomber Faisal Shahzad the firecrackers he used to build his failed car bomb. Tam bought the “lock and load” kit of 24 shells of gunpowder. Buy one get one FREE. Wow!

Should doctors/hospitals charge victims over $20,000 to amputate leg?

Are bombing victims really getting hit with the full price? If you have ever had a procedure, you know the insurer is billed many $ thousands and pays about $ 500 because they have a contract with the provider. Luckily, MA requires insurers to cover almost all expenses so residents have help but only the “medically necessary.” Out of state residents are out of luck. Will they sue bombers? Their families? Bomb sale store?

Insurers don’t cover all artificial limbs. One victim "got a call from the insurance company and the person on the other end said, 'How long are you going to need the prosthetic hands?' http://news.yahoo.com/boston-victims-face-huge-bills-donations-pour-174957328.html

West TX blast victims are suing the fertilizer plant which is family owned.

TX gov wants to abolish all regulations in this country. Plants will explode and kill more people since this plant was just given violations but never complied. http://www.propublica.org/article/what-went-wrong-in-west-texas-and-where-were-the-regulators
 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com