What did you do when the market fell 45%

What happened to your money since the financial recession?

When the market fell 45% in 2007-8, did you sell or did you just cringe like I did? I decided there was no other place to go. No “advisor” knew what to do. If you sold your portfolio and moved to safe cash equivalents earning 2%, how have you done? $700,000 in 2007 would be worth $820,000 now if you got out BEFORE the fall. If you got out at $600,000 you would have $700,000 now. If you got out at $500,000, you would have only $585,000 now. I didn’t know where to go so I have the same $720,000 now. Is it smart to sell in a crisis? When I look at the market over 10 years, I see an upward trend: https://www.google.com/finance?q=NYSEARCA:IVV When you look at this graph, remember dividends. In 10 years, you would have lost all those dividends from companies in the 500 index. The companies continued to make profits. That is why you invest. Not to try to time getting out and then getting back in at the right moment. Studies show it is hard.

https://www.amazon.com/Go-Long-Reach-Wealth-Starting/dp/1519376189

Vanguard low-fee investing has changed our future—saved us $200,000 +

$1 of every $2 invested today goes to Vanguard. That’s $1 billion a day for 18 months. All the other managers are cutting fees to compete. Don’t be fooled—Fidelity can raise the fees when they need to. Vanguard does not lower prices temporarily as a novelty. We investors own the funds and charge ourselves just enough to provide top drawer service. It has no owners like Fidelity’s Johnson family so there is no multibillionaire to fatten annually. Vanguard has index and managed funds and ETFs at cost for our benefit. Our portfolio grows to $500,000 not $300,000 on fees of 0.20% vs 2.0% over time. Low-fees beat high-fee investments in every period so your $16,000 by age 26 becomes $1 million.

Vanguard: the best costs less because volume: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Myth of GOP “small” government, low taxes, high growth

George Will just left the GOP. Many listed as GOP say they can’t support its candidate. We may be seeing the end of the myth of conservative politics. Socially-conservative Christians are flocking to a Manhattan playboy who promises to get stores to say “Merry Christmas” again. They want to block non-Christians from politics and reinstate Christianity as the ‘state’ religion. The GOP candidate is promising to spend more on protection and reversing the progressive trends than the mythical Reagan did. He promised more government spending to control immigration, non-Christians, women’s health clinics, environment, and business. Like Reagan’s expansion of government workers (60,000) and the debt ($2.3 trillion) at the expense of workers (1983 payroll tax hike)—in the name of working people, Trump promises to cut taxes for the wealthy and pay for it by making a national sales tax like Europe. Don Trump will cut Medicare and SS benefits “if tax cuts don’t make big surpluses”. Reagan raised taxes 7 times and gave millions of immigrants amnesty.

GOP proves tax cuts for rich doesn’t create growth; just ruins life for us

GOP statehouses are trying to exclude DEMs from voting, getting health care and good educations. KS is proof that cutting taxes for the rich just ruins that state for the rest of us. They cut Medicaid, education, federal payments, infrastructure like KS and now they can’t fix it. KS lawmakers created more gov not less; and will need to raise revenue from working people in the form of property taxes. NJ Christie wants to triple the gas tax to offset his tax cut for millionaires, who are leaving the state anyway.

GOP isn’t conservative. GOP just don’t like non-white non-Christian & women deciding.

Is indemnity health plan right for you?
ObamaCare ban on savings-type health plan cancelled so Central United and others can profit from poor people again. A DC court struck ACA provision that outlaws plans that don’t pay the full bill when you get sick. Obama said they don’t provide comprehensive care for all diseases or even the full hospital bill so can’t qualify as “minimum essential coverage.” $500 for a $30,000 hospital bill is NOT insurance. These policies are big money makers because companies are selling limited payouts as health insurance. They are popular in countries that have FREE health coverage so people can pay for extras. ACA made policies affordable ($120/mo) or free (expanded Medicaid) for most people. Before you buy, see 1997 movie “Rainmaker”:  https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

   

"automatic IRAs" for workers who have no workplace retirement plans

50% of the workforce or some 55 million employees have no plan at work. Some states are making the simple plans easy to set up so that workers will have income beside Social Security at age 67. Maryland's new auto-IRA, which mandates the automatic enrollment of any employee who works 30 hours or more for a company with at least 10 employees, were adopted nationwide, as many as 37.5 million Americans could be included, one observer said. The auto-IRAs would typically be invested by state-administered agencies that might compete with private-sector retirement plan vendors and investment managers. But the private sector has not helped set up plans at work before since commissions are low. NJ Christie vetoes the plan at the request of insurers, whose agents offer private funds with high fees. Other states employers show little interest in auto-IRAs.

Real incentive: Tax-FREE retirement: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Is a new car right for you?

A new analysis from Bankrate.com found that a median-income household could not afford the average price of a new vehicle. The average price is about $34,000, according to Kelley Blue Book. New cars have expensive safety features like collision-avoidance systems. However, as the family of Joshua Brown found out, they don’t work .. yet. (big trucks look like sky to autopilot.) Like all new stuff, especially software, it takes time for success. Of course incomes vary a lot. But as the Times showed, in Hartford with incomes of $29,000, an affordable price is $8,000. So everyone borrows more for longer—68 months average and ends up paying $30,000 total. And 30% of us lease now and again make payments forever. Obviously, a 3-year old makes sense. One of our members found a 2012 Camry last year for an all in of $14,850 ($29,000 new) She put down $6,200 and financed the balance at $120 a month for 72 mos. She got 6 airbags, Camry quality but no autopilot, video, cameras, etc. 50K miles.

Used cars are usually 30-40% off: https://www.amazon.com/Personal-Finance-Smarties-Not-Dummies/dp/1469973030

Does our President need to be smart and truthful? Do they even care about truth?

            (a summary of the GOP Presidential debates) (history: GOP has the final candidate by Feb 17) (FBI criticizes Hill’s lies she can’t blame on others)

                        What does Trump’s American Socialism stand for?

Increase subsidies to oil gas, corp farmers, Boeing, big business tax cuts

Don will cut Medicare and SS benefits “if tax cuts don’t make big surpluses”

Cut funding for un-wealthy, poor, schools. seniors, underemployed, kids, sick, etc.

Reinstate older white male value system: Make ‘WASP” America Great Again

Reinstate Christianity as the state religion—bar all others from public office

Reinstate Christmas and Christian observance in schools, home, court, stores, marriage

KKK sees big opportunities after 150 years

Put secessionist’s flag back in public spaces - cemeteries, courts, state houses.

Put up a wall, end trade, bring back repetitive “robotic” jobs back from low wage areas.

Cut regulation of all business activity, lower wages for women, pregnancy

Climate change is a hoax. Let oil companies drill anywhere. XL pipeline approved

Replace ObamaCare: no mandate (tax credit so you can try to find your own like before)

Cut federal spending on health especially when control women clinics, Zika

Cancel immigration for all from non-EU countries. Invest in security, guns, fear.

Voter suppression of DEMs (even in Brooklyn) Latins, blacks, poor, students.

GOP gerrymandering so they can’t lose some districts … ever.

Replace judges whose parents came from a non-EU country or any non-Christians.

Limit rights of non-Christians, Muslims, gays, Indians, Asians, protesters, press

Increase debt and devalue debt. Let Mexico pay for the Wall by taxing imports we buy

Create tariffs on imports so we pay $6,000 more for stuff we buy. Middle class tax.

Trade pacts are no good for us and no good for our workers.

Abolish IRS, EPA, Education, Dodd-Frank financial protections, consumer protections

National right to buy and carry any firearms anywhere anytime by anyone age 2 and up.

Install voter ID restrictions designed to lower Dem voter participation – proved in court

Install state gov that cuts Medicaid, education, federal payments, infrastructure like KS.

“Lust for executive power”—GOP House leader thinks Don wants to just snap fingers.

“I could stand in Fifth Avenue and shoot somebody and I wouldn’t lose any voters.” 

Don’s rallies begin with crazies denouncing supporters--thrown out as “protestors.” 

“It’s hard to reason with people who don’t care about good policy, logic or sound information.”

“The only thing necessary for the triumph of evil is for good men to do nothing.” E Burke

Don:    I will “overhaul America like I have overhauled” my Scotland golf course 

            (Scots were pushed from homes, offered fake jobs, sued, threatened over turbines)

            When Prez, I will personally sign all checks—new jets, SS checks, debts.

            Ryan tax cuts for rich are paid for with “consumption-style” national sales tax.

            My delegates are bringing guns to fight ISIS friends in Cleveland. Speakers?

            I am having my vendors pay my staff as expense so no income taxes: Biz deduct

            I don’t need Christie’s mess in my election. Newt’s been married 3 times too.

            "Saddam was a bad guy. But he did well. He killed terrorists! . . sooo good."

            “Constitution is negotiable like everything else—Especially Art. XII” But no XII.

            I want you to tell the press the meeting was great—I know what I am doing.”

           

Hill:    Bill just doesn’t think—or thinks meeting my prosecutor is nothing. Or envy?

            Looks like 1964 all over again. Goldwater had same message for racists and lost.  

            "Republican Women for Hillary" --former Bushies for trade and a deal with Hill

            Kasich for VP to lock up OH? Or Rick Scott of FL

            What could FBI do? I might be their boss soon and FBI needs new building.

            There are different rules for the former Prez and me. We only do good things!

            GOP will spend $ millions more on 5 committee investigations of me. Wasted tax

Paul: ‘This is one of my big concerns:’ Don’s “lust for executive power.” But he’s it.

            “Saddam was one of the most evil people” … not ‘so good,’ Don!

            I think we will have to punish the DEMs for their sit in” Jail? Fine? Ban?

            “Anti-Semitic images, they’ve got no place in a presidential campaign,”

            KKK Duke: there was “no way” the Star of David shape was a sheriff’s star.

            Ryan bans secrets from Hill. Ryan first discussed the idea with Megyn Kelly !?!

Bern:   I will work to keep Don locked in the Tower.

            There is a reason Don’s businesses filed bankruptcy 5 times.

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!

.Raymond James fined for massive fraud scheme involving the Jay Peak ski resort.

.Got a Stinky Front-Load Washer? http://www.consumerworld.org/?utm_source=newsletter

.OK does not want to give up 100 year old electric chair ‘sparky.’ May need it to kill.

.Another child killed by gun  accidentally by Dad on regular gun family outing.

.ObamaCare ban on savings-type health plan cancelled so Central United Life can profit

. Andrew Caspersen Park Hill Group caught defrauded investors of $38 million

.VW recalling 6,000 Touran replace front gas bottles corrodes burst fire

.SC town bans “saggy pants” rapper style originated from oversized prison outfits.

.US forcing recall of more than a million “hoverboards” as fire starters injure 99.

.40% sunscreens not sufficient to work cost not equal quality. See list. NO-AD wins.

.When everyone has guns; your chance of being killed goes up. Just by the numbers. 

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

SCAMS

Back in 2007, the Bush II White House ‘lost’ more than five million private emails.”

Someone got paid for this? Seven-year study concluded the Iraq war was mounted on flawed intelligence and executed with "wholly inadequate" planning. 

Ignoramus Award: VA lets violent gun felons buy as many guns as possible

Remarried Catholics must avoid sex and live like “brother and sister,” Phila’s archbishop. But the Church is against birth control by unnatural means in Humanae Vitae #14.

How our government wastes our money

Obama spends $ billions we don’t have on lost wars—9000 in Afghan, 5000 in Iraq--any Moslem countries fighting to end their religious idolaters?

Obama to build a sophisticated anti-missile system in South Korea. Why can’t Korea?

We are paying for 28,000 U.S. troops stationed in South Korea already. Let them pay.

Who owns your account now?

MyVest to TIAA

GOP convention replaces FUN speaker Paul LePage with Walker-Cruz. File for refund

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Does the IRS owe you money?

Does the IRS owe you money?

The IRS has $1 billion in unclaimed refunds for the 2011 tax year that will soon become the property of the U.S. government if taxpayers don't come forward to claim them. Roughly 1 million households that didn't file a 2011 tax return are owed that money. You can check your refund from this year at https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp. To check if IRS owes from previous years, find copy of your IRS (return) transcript: http://www.irs.gov/Individuals/Get-Transcript. If you did not file to get your federal tax withholding back, file with an IRS-approved preparer: http://www.freetaxusa.com/file_2011_income_tax_return.jsp

If you owe money and don’t file: What happens when you don’t file

Are you going to jail for perjury on your tax return?

Perjury mistake on signed return? 5 years jail time for you; for banks, a tax-deduction!

The U.S. Trustee struck a $50 million deal over charges JPMorganChase ‘robo-signed’ mortgage documents to numerous bankruptcy courts. The bank must pay more than 25,000 homeowners in the remedial deal. As a result, there appears to be no restriction on the bank’s ability to write off the entire amount on its taxes. The robo-signing in question involved bank employees who affixed electronic signatures–under penalties of perjury–without reviewing the accuracy of the notices.

“corporations are people my friend” except when they do bad things. Then they use the Nuremberg Defense and have us pay part of their fine.

Combatants pay no tax

IRS excludes military pay from gross federal income tax for the period members are deployed in a combat zone. Members can contribute tax-free combat pay to either a Roth IRA or a thrift savings plan. Roth IRA gains are forever Tax-FREE. Military personnel do not have to include nontaxable pay to earn EITC—a refundable credit—so this entitles them to a larger credit. Exclude any gain on sale of home no matter length of residence. Other benefits in detail: http://www.irs.gov/Individuals/Military

TurboTax gives buyers a pain in the turbo

TurboTax Deluxe, the top selling desktop tax preparation software program, gives a surprise. Turbo has stripped the program of key functionality to easily report income from investments, self-employment, and rents. You must “upgrade” to more expensive versions. Turbo has halted state filings due to security problems also. Less well-known products may be a better value. Try IRS-approved programs:  http://apps.irs.gov/app/freeFile/jsp/index.jsp?ck. I have used FreeTaxUSA for 4 years: http://www.freetaxusa.com/freefile/supported_forms.jsp

Warren Buffett’s latest investment ($72 B) advice for us

Active trading, attempts to “time” market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a lifelong owner of equities would otherwise enjoy. Indeed, borrowed money has no place in the investor’s tool kit: Anything can happen anytime in markets. And no advisor, economist or TV commentator — and definitely not Charlie nor I — can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.”

Warren’s specific recommendations: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Tax refund to savings or investments?

54.9% of millennials expecting a tax refund this year plan to deposit the refunds into their savings accounts, according to the National Retail Federation. The average refund is over $3,000. If you buy a stock market fund with $3,000 every year, compounding can make you a millionaire. Patience and time is all it takes.

Don’t give up anything except old-age poverty. 

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

GOP best crazies of last 200 years

Half the Senators give aid and comfort to the country we are negotiating nuclear war with. Iran says the move showed "disintegration" in U.S. Our Constitution is clear—II, --the President “shall have power, by and with the advice and consent of the Senate, to make treaties, provided two thirds of the Senators present concur.” In a democracy, if you don’t like the law, change it, don’t destroy the structure. When Reagan sold arms to Iran to get money for Contras, did Dems torpedo agreement on arms?

Can GOP change Constitution? Are they just anarchists?  

GOP crazies

Here is how the future GOP president will solve problems: Tricks, payoffs, lies, legal double talk, obfuscation, and all the other things politicians do. Lower tax for the rich and sock it to the middle: Ranking No 1 worst property tax states, New Jersey, with average-priced home tax bill of $16,000, defaulted on liabilities, low job growth, likes the perks.

Wisconsin becomes the 25th right-to-work state following the GOP plan.

Gov Walker promised improved job rate and dismissed lower-wages criticism. The GOP experiment in KS has not gone well. Gov Brownback’s cuts to a number of state taxes in 2012 failed to boost the economy like he had hoped, triggering a backlash when the huge budget shortfall that resulted forced major decreases in government services. His state’s credit rating was lowered, and Brownback nearly lost his job in the November elections.

GOP counting on voter suppression in 2016—soon only white landowners?

More states are following the GOP success in PA in 2012. GOP chair Gleason says he cut Obama’s vote by 5% there. States may be returning to the time of white landowner only laws using clever techniques of exclusion like requiring a US passport or paid property tax bill. The Supremes have gutted the voting rights provisions and there may be more. Meanwhile not one states attorney has found a voter fraud pattern in their state—31 in 1 billion ballots nationwide!

Just say NO when your broker/advisor says RE-BALANCE

New research from Duke’s Harvey says sell/buy every quarter may hurt your long-term prospects for retirement. In an up market, you are selling soaring stocks; “all of a sudden your portfolio has done worse than if you had just let it run.” Re-balancing kills compounding. John Bogle, Vanguard, does not: “I see no circumstance under which rebalancing through an adviser charging 1% could possibly add value.”

Use Warren Buffett’s alternatives: http://www.amazon.com/Dont-Re-balance-Your-Portfolio-Research/dp/1508802386

SAFEST used cars under $9K

CR says older is better—problems have been solved:

Chevrolet Malibu (2009-2012, 4-cyl.): Starting at $8,125

Ford Fusion (2010-2012, 4-cyl. and hybrid): Starting at $8,325

Hyundai Sonata (2006-2014, 4-cyl., non-turbo): Starting at $5,450

Kia Soul (2010-2011): Starting at $8,925

Toyota RAV4 (2004-2012, 4-cyl.): Starting at $5,590

I bought a ’05 Sonata for $4,955 with 105K in 2011; still works well at 125K miles.

http://lifehacker.com/the-safest-used-cars-for-under-10k-according-to-consu-1690655809

Obama to help students pay debt

Student loans cost over 6% per year while banks pay 0% rate. Obama will change procedures for paying income-adjusted installments easier. 7 million borrowers are currently in default for loans totaling $98.1 billion. Money is easier to get than a job.

Are you losing your health benefits?

Rising costs and risk of liability have prompted many of employers to “adjust” their offerings to retirees and employees. The number of employers offering retiree medical benefits have “definitely dwindled from where it was 20 years ago,” says Cara Jareb, Towers Watson. Now, more employers, like Hilton, are moving to private exchanges to save. Eventually, the US will adopt the least costly system—single payer.

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

And you think you can trust them to keep their word?

Two-thirds of Americans say they would be willing to give up salary increases in exchange for guaranteed retirement income, according to a new survey by the National Institute on Retirement Security. As corporations continue to freeze or eliminate defined benefit plans, American workers may be getting increasingly concerned about their financial security in retirement and looking for guaranteed income options.

America is going back to the pre-WWII time when workers had no unions, scabs took their jobs for less wages—No pensions/health care paid by employers. Wealthy people and large combines controlled elections. There was no government regulation of pollution, food, work, bridges, etc. Citizens were at the mercy of large employers. If you disagreed and were famous, you were called before the McCarthy committee and blacklisted. If you were not famous, you were dismissed and ostracized.

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. Our trained troops ran away.

Daylight Saving Time, who needs it?

It was Germany which, in April, 1916, first started moving clocks forward by an hour, to conserve energy during the World War I. Does it really save on electric?

Wall Street’s “regulators” are just the 1%ers on vacation

Banker Antonio Weiss, got a $21 million bonus by his Wall Street bosses to go to work as a bank regulator. Obama then nominates him for a high position in the U.S. Treasury Department and he takes it.  Treasury Secretary Jack Lew left Citigroup in 2008 and made somewhere between $250,000 and $500,000 in early stock payouts. Smallberg, head of watchdog group, authored a report last year that found a number of major corporations financially reward employees who go into government regulation.

Can Americans beat the robocallers?

https://www.ftc.gov/news-events/press-releases/2015/03/ftc-announces-new-robocall-contests-combat-illegal-automated

Who protects the President from the Secret Service?

Two senior Secret Service agents -- one of whom is a top member of President Obama's protective detail -- reportedly drove a government car into White House security barricades after drinking at a late-night party last week. They skipped out and did not report accident. 

Are they drunk because Congress may cut their salaries in the Homeland’s budget fight?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Do you need Lawsuit insurance?

Lawsuit Insurance Do you need a lawsuit liability policy?

If your child ever displays their anger on an Internet site, you may get hit with a lawsuit for $millions. It happened to couple in GA and they must pay $750,000 after the award was reduced. You may be sued in an accident through no fault of your own. Do you have $100,000 for the lawyer to defend you? You can save on the cost of this excess or umbrella liability policy by shopping insurers.

Saved 62%

A New Jersey member found that her car insurer charged $210 for the same $1 million umbrella policy that her home insurer, State Farm, charged $556 for. She saves $346 a year. Your auto carrier usually gives the best price for liability coverage.

Use our Guide to pick the right coverage: http://www.amazon.com/Lawsuit-Insurance-need-right-policy/dp/1480061123/

Romney will lower rates but raise tax payments by cutting our deductions

He pledges to “lower taxes on middle-income families,” without giving high earners another tax cut or adding to the U.S. budget deficit. He can do that, he says, by capping the value of tax breaks available to any individual taxpayer. His tax plan, however, would upend financial planning for millions of middle-class households, denying them thousands of dollars in annual deductions, thus raising their taxes but lowering the "rate."

Recently, Romney said taxpayers might be able to take a total of no more than $17,000 in deductions each year. For middle class families in high tax states, this is the kiss of death. Many in NJ, NY, and CA pay over $17,000 in mortgage interest (average homes cost $500,000) and $12,000 in property and state income taxes. Some give $10,000 to charity.

Romney tax cuts will cost $5 trillion over 10 years. The limit on deductions do not “come close to paying for the $5 trillion,” said Gale, who co-authored a study of Romney's tax plan for the non-partisan Tax Policy Center in Washington.

http://www.businessweek.com/news/2012-10-05/romney-vow-to-lower-middle-class-taxes-at-odds-with-cap

Most reliable used vehicles

Eight out of 10 of the models on our list of most reliable used vehicles from the 2008 and 2009 model years come from Japanese brands. JD Power and Consumer Reports: http://autos.yahoo.com/news/10-most-reliable-used-cars.html

Vehicle Insurance:  Beware: Double Coverage by Dan Keppel

Your education and occupation may raise your premium.

Save $22,000 with the right policy.

Your policy duplicates at least three coverages.
The same 2-car policy can cost $1,400 or $3,600.
Create a Wealth Reserve^TM to self-insure small risks.
Accumulate $100,000 in 15 years to protect your future.

http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

Is a variable annuity right for you?
AM Best, the insurer-rating firm, and its sponsor, AXA Equitable, are encouraging agents to use these complicated and expensive products for younger clients. Even though the SEC, securities regulator, has warned agents and clients about the suitability of VA s

(sec.gov/investor/pubs/varannty.htm), insurers pay high commissions to lock in investable dollars early. Young people have much better investment options without the high costs and lack of liquidity of a VA. Look before you leap:  http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Congress wealth up 5%, American people’s wealth down 39%

The Washington Post reported the median net worth of the current Congress rose 5% during the recession while it fell 39% for the average American. The wealthiest one-third of lawmakers saw their net worth rise 14%. Some key findings of the report are:

• By 2010, the median estimated wealth for members of the House of Representatives was $746,000; for senators it was $2.6 million.
• There was virtually no difference between the wealth of Republicans and Democrats in 2010. Just six years earlier, the net worth of Republicans was 44% higher than the net worth of Democrats.
• 28% of Congress, or 150 members, reported earning more income from outside jobs and investments than from their Congressional salary of $174,000.
• 27% of Congressional members saw a decline in their net worth between 2004 and 2010.
• 73 lawmakers sponsored or co-sponsored legislation that could benefit businesses or industries that involved those Congressional members or their families.

No wonder they don’t want to raise taxes.

Government of the rich people, by the rich people, for the rich people, shall not perish from the earth. Lincoln was wrong. There are two nations.

Paul saved $4,567 by moving his IRA to low-cost Vanguard

Paul used Vanguard low-cost index and managed funds to gain 25.5% so far this year and saving $4,567 in fees this year. His IRA had about $300,000 in 2011 when he moved it because he was not happy with his advisor’s fund returns. He now pays about 0.3% instead of 1.3%. He has diversified his investments in preparation for retirement by using the 10 Vanguard funds suggested by our members. He has about $375,000 now. He read:http://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

GOP Rep claims science is wrong yet votes on Science, Space & Technology issues!?

Georgia Rep. Paul Broun said in videotaped remarks that evolution, embryology and the Big Bang theory are "lies straight from the pit of hell" meant to convince people that they do not need a savior. Broun also said that he believes the Earth is about 9,000 years old and that it was made in six days. Was he just playing to audience or for real?

Problem: He sits on the House Committee on Science, Space and Technology and makes decisions affecting our future.

Congress hears study that finds lower taxes just makes rich richer: NO “trickle” down

The study shows that lower taxes DOES NOT increase growth: Both houses held a joint hearing on what they called the “treatment” of capital gains. It has been a one of the Ten Commandments of the GOP: Lower taxes produce greater growth. But now a study of growth and tax rates since 1950 shows “no statistically significant correlation” between the two. The study included a 5 year lag also. There is no trickle down growth.http://www.bloomberg.com/news/2012-10-04/study-finds-benefit-is-elusive-for-low-capital-gains-rate.html

Is your state pension in trouble?

States don’t like to pay for their promises and usually don’t have to. NY is the exception. Is your future pension just a broken promise? Are unions able to help or is this like Social Security? You paid in advance but, too bad, things change? See the 10 worst cases.

http://online.wsj.com/article/AP644ef2750d8248e393bfa995b8787524.html

Are your 401k fees too high?

The new disclosures—some 8 or more pages—seem to be obscuring the facts. There are fees for everything and mutual fund companies must list them all; which might be the problem. There are so many different kinds and it is hard to know how to reduce the ones you can control. Typically, your employer is not paying for any of them so they don’t have an incentive to reduce or eliminate them. They signed you up to pay for bookkeeping, telephone response, mailing statements, etc. You can reduce the management fees, 12 b1 fees and other expenses of the management company. Compare your plan fees to other company plans usinghttp://www.brightscope.com/. To understand what the fee names mean, seehttp://www.sec.gov/answers/mffees.htm. Most people are better off, making more money, by using low-cost funds. Paying more does not guarantee you earn more. In fact, the opposite is true according to many studies. Over time, paying high fees can take 40% of your accumulations. Many have found our Guide helpful: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137.

NJ tries to give uninsured purchasing power despite Christie

New Jersey Senate approved legislation to create a health-coverage purchasing pool for the uninsured, after Republican Governor Chris Christie vetoed a similar measure in May. States that miss a Nov. 16 deadline to submit plans will have their exchanges designed by the federal government. New Jersey has 8.8 million residents, with about 1.3 million uninsured from 2009 to 2011, according to U.S. Census data.

Canada government certified meds less than HALF cost

Buying meds on the Internet from Canada can be safe using a CIPA.com approved pharmacies. EG: Abilify  15mg Tablets   30 tabs $227 at http://www.polarmeds.com/ but $592 at CVS. Both require script by real Dr. 

Is a “living trust” right for you?

Seniors are the target for this $2,000 sales pitch to “avoid the high cost of probate.” The Prepaid legal sales person then hands the paperwork to the deferred annuity person who clears another $2,000 or more by locking up savings in a 14 year contract. Most people will never need to probate their will since most assets are not governed by it. An IRA and life insurance as well as POD and joint accounts, and homes are usually paid directly to a beneficiary or joint owner. Most people also forget to change the title of their assets to the living trust so it is not used. Taxes can’t be avoided with this trust. Contact an estate lawyer for your specific situation, like property in multiple states.http://www.nytimes.com/2005/11/20/realestate/20home.html

States may tax your own money in a joint account

PA, NJ, NE, MD, IA, KY and IN will impose tax on your money if a joint owner of the account dies. The states consider the money split equally among the owners. A Financial Power of Attorney can be used in place of putting your grown child’s name on the account for convenience. This avoids the tax and allows any person you designate to obtain money when you are not able to make the withdrawal for emergencies. NOT LEGAL ADVICE

http://money.howstuffworks.com/personal-finance/personal-income-taxes/inheritance-tax.htm You can make a POA yourself at http://www.nolo.com/legal-encyclopedia/durable-financial-power-of-attorney-29936.html’

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

Amex fined for misleading customers 4 ways—Refunds to ¼ million customers

New Fed regulator, CFPB, fined American Express $14.1 million for promising $300 on signup cards then reneging. http://www.consumerfinance.gov/pressreleases/cfpb-orders-american-express-to-pay-85-million-refund-to-consumers-harmed-by-illegal-credit-card-practices/

Romney’s debate promise—pre-existing condition coverage—is already law

Health-policy specialists say Romney’s plan is the same protection already in a 1996 U.S. law and doesn’t show how it would help at least 36 million sick people at risk of being denied coverage.

Why don’t we all have the same health coverage as Congress and the President?

They pay for private plans like any large employer. The plans provide great care as you can wonder. We taxpayers pay for about 75% of the costs of about 300 choices according tohttp://www.factcheck.org/2009/08/health-care-for-members-of-congress/. There is no reason why all the uninsureds could not be offered the same deal as the our ‘representatives.’ After all, don’t they work for us?

http://www.opm.gov/INSURE/HEALTH/INDEX.ASP

Foreclosure rescue fraud charges against 530 in NY alone

More than 73,000 homeowners were victims of various frauds for which charges were filed during a year-long crackdown, including “foreclosure rescue schemes” that take advantage of those who have fallen behind on payments, the Justice Department said. The U.S. brought charges against 530 people over schemes that cost homeowners more than $1 billion, NY AG Holder says. 

MN curbs misrepresentations by Embassy of Heaven

State insurance regulators have ordered the Oregon- based Embassy of Heaven Church and its leader Paul Revere to stop making misrepresentations related to insurance in Minnesota, saying a type of auto insurance it promotes through Mutual Assurance is bogus.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Americans denouncing citizenship to avoid tax are still here

Wealth: What every high school student needs to know – now iTunes App $3.99

Let money work for you: Start early with $100; hit $2 million sooner!

http://itunes.apple.com/us/app/wealth-what-every-high-school/id540588535?mt=8

2,000 Americans denounce citizenship to avoid taxes; but still enjoy it here

Americans are finding more reasons than ever to take the drastic step of giving up their U.S. citizenship, and the gridlock in Washington may push even more people to run for the borders. Facebook co-founder Eduardo Saverin in Singapore since 2009. Socialite Denise Rich just moved. Of course, these folks still own property here and “party” here but just don’t want to pay for the priviledge. With all their money overseas, will they ask for the American ambassador to bail them out if they get in trouble over there? Use our: http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236

AL reniges on promise to pay for college

Alabama's prepaid college plan is a step closer to an agreement with the state that would cap the amount those students receive at an amount less than the full tuition they were promised when they signed up for the contracts. Alabama's prepaid college plan suffered financial trouble in 2008 and its board doesn't expect to be able to pay the remaining 37,000 participants full tuition as it increases each year. The state already has agreed to add $548 million to the program in future years, but that still won't be enough to cover full tuition in the future if it keeps rising at the current pace, according to experts. Members use low-cost 529 plans with Vanguard mutual funds. http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Study shows ETF for traders not investors

The study found that 62% of ETF shareholders exhibited buy-and-hold behavior, defined as ownership of more than one year. Though that is less than the 83% among mutual fund shareholders, Vanguard claims the difference is attributable more to the type of investor drawn to ETFs than to the products themselves. ETF investors are more likely to be male and over 60, and to check their account balances daily, according to Vanguard. Investors in each of those categories tend to trade more than the average investor. ETF traders tend to try to time the markets and usually earn less than buy-and-hold investors. There's no question that ETFs are the greatest trading innovation of the 21st century,” Mr. Bogle said at a conference in February. “But the question is 'Are they the greatest investment innovation?' and the answer is 'no.' ”

Mr. Bogle recalled seeing an ad for the S&P 500 ETF that touted the ability to trade throughout the day and thinking, “Who the hell wants to do that?”

ONLY the fools think they can outsmart everyone else. Members invest like businesses: http://www.amazon.com/Wealth-Without-Wall-Street-Keppel/dp/1442168137

Insurers ask colleges for more safety plans for children—Act like adults!

Penn State issue highlights the need for risk management awareness and having policies in place to ensure a safe environment," said Waldorf, president of Waldorf& Associates, a broker that specializes in insuring colleges. If the whole administration ignores the rape of children, are all college kids at risk? What if the footballers rape a girl on campus? Would PSU prosecute footballers? Would they just hide it? Insurers fear future claims. It is as if there are no adults at Penn State.

Women say they are not confident about financial decisions

A Prudential survey shows that while 53% of women in a survey said they are the primary wage earners in their households, just 20% say they feel confident with financial decision-making. On the other hand, about 45% of the surveyed men expressed confidence in making financial choices. Women are better investors than men since they are more patient with their investments. Members use our Guide: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293

Pru out of LTCi market

The insurer announced Wednesday afternoon that it will discontinue sales of new group LTCI policies starting in August in all states. The carrier will continue to offer the product in Indiana, Iowa, Kansas, Louisiana and South Dakota for “a period of time,” as per state law requirements. Prudential will continue accepting group LTCI enrollments until June 30. Low interest rates are blamed for the decision.

Small employer 401k plans charge THREE times the rate of large ones: Use IRA instead

Participants in 401(k) plans with less than $1 million in assets pay average fees amounting to 1.41%. Disclosures show that is more than three times the fees paid by participants in larger plans. Member use tax-FREE IRA with costs of 0.07%. http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

FL takes care of poor children health but what about adults?`

Florida surpassed 2 million participants in Florida KidCare, a collection of government programs that partially or completely cover preventive and acute health care for state residents age 19 and younger. Family income dictates whether applicants' children enroll in the programs such as Medicaid, for the very poor, or Medikids or Healthy Kids, modified plans that charge a monthly premium ranging from $15 to $196 per child.

For adults, Rick Scott has rejected Fed money for Medicaid for the poor.

Hospital associations around the country have already signed off on cuts to reimbursement rates under the health care law on the assumption that the new paying customers they would gain, partly through the Medicaid expansion, would more than cover their losses. "If we're going to walk away from that coverage, we'll simply see those dollars we contributed through cuts in hospital payments go to covering people in other states," said Bruce Rueben, president of the Florida Hospital Association.

"It's a bad deal for people in Florida if it plays out that way."

GOP House votes to keep healthcare plan in retirement for themselves

"House Republicans refuse to admit they voted to give themselves taxpayer funded lifetime guaranteed health care instead of having the same health care as their constituents," said Jesse Ferguson of the Democratic Congressional Campaign Committee. "House Republicans didn't just vote to protect insurance company campaign donor profits this time, they're even helping themselves to lifetime taxpayer-funded government health care and now they need to be honest with their constituents and admit it." http://www.businessinsider.com/republican-health-care-repeal-hypocrisy-congress-2012-7

Supremes upheld ObamaCare but split country in half—1/2 get care, ½ don’t get care

Scalia not unhappy since they took away the federal government’s ability to force states to join the expanded Medicaid program. Some states are balking, potentially leaving millions to continue with no coverage.

Republicans, meanwhile, offered no healthcare relief and even threatened to eliminate existing programs.

State uninsured and hospitals expecting Medicaid funds are denied by GOP

West Virginia hospitals currently provide $740 million in charity care to the uninsured. Many of those uninsured people will be eligible for Medicaid if the state decides to expand the program.

Texas’ Gov. Rick Perry, saying “no” to the federal health care law could also mean turning away up to 1.3 million Texans, nearly half the uninsured people who could be newly eligible for coverage in his state.

New Jersey Gov. Chris Christie not only would be saying “no” to President Barack Obama, but to as many as 245,000 uninsured New Jersey residents as well.

http://www.washingtontimes.com/news/2012/jul/18/states-saying-no-to-obamacare-could-see-downside/

Alaska will not set up a program allowing residents to buy health insurance across state lines as envisioned under the Obama administration's new healthcare law

GOP Bachmann alleges Muslim spy in Sec of State Clinton’s office

Bachmann charges that a Clinton aide may be acting as the secret agent of a foreign organization. Charges were made in a letter to the State Department signed by Representative Bachmann and three other members of Congress. “Having worked for Congressman Bachmann’s campaign for president, I am fully aware that she sometimes has difficulty with her facts, but this is downright vicious and reaches the late Senator Joe McCarthy level,” wrote Mr. Rollins. Bachmann also said that the Founding Fathers eliminated slavery in 1776. She also thinks the British attacked NH not Concord MA. She is now a Swiss citizen so it doesn’t matter anymore what she thinks.

GOP Allen West (FL) claims 80 House members are communists and social security is a "form of modern, 21st century slavery." http://www.businessinsider.com/allen-west-social-security-slavery-florida-rep-tea-party-2012-7#ixzz216RcXhWG

These weird claims must be in the GOP fundraising manual to help stupid voters make up their minds. West and Bachmann are US Congress who represent some voters.

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

AXA Equitable found cheating health reimbursements

Regulators exact fine from AXA Equitable Life Insurance Company after an investigation revealed that the corporation made an undisclosed change to its medical claim reimbursement policy resulting in lower reimbursements for many members.

Socialism for the rich—Farm land owners get double the rents due to subsidy to renter

One of the largest farm real estate booms in decades could be getting a boost from an unsuspecting player: the US taxpayer. The government foots the bill for a large chunk of the nation's enormous crop insurance program. Our subsidy pushes the rent higher for the actual producers so land owners, not farmers, get the benefits without the risk.  The rent on part of the land he farms in MN doubled last year to $280 an acre, up from $140 in 2010. GOP Bachmann owns a farm with subsidies but is Swiss citizen now.

http://www.newsobserver.com/2012/07/13/2195111/farmers-safety-net-is-now-a-money.html

           

Who owns your account NOW?

Presidential Life to Athene Annuity & Life

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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