Expecting negative returns in 2018?

Are you expecting negative returns?

This year is on track to deliver the lowest share of positive returns adjusted for inflation across 17 major asset classes since 2008, according to Morgan Stanley. Too bad. Our clients have stayed with their balanced portfolios because we can’t predict the future of the markets. This is a snapshot of their returns so far:

Total Return Fund Long-term Return Longevity

YTD 2018*                              2017

10.2%                                      21.7% 500 Index                     11.1%* since 1976

 7.9                                           3.2% Energy                            10.7% since 1984

10.4                                          17.9% Extended Market          10.9% since 1987

13.2                                          19.6% Health                           16.5% since 1984

 3.5                                           42.9% International Growth     10.8% since 1981

14.3                                          29.5% PRIMECAP                 13.9% since 1984

10.5                                          16.1% Small Cap Index           10.7% since 1960

 0.1                                           10.2% Wellesley Income          9.9% since 1970

 3.1                                           19.1% Windsor                       11.5% since 1958

 6.3                                           16.8% Windsor II                    10.8% since 1985

 8.0%                                       19.7%                         Average 11.7%

*9/26/18                                   Average Annual Returns as of 12/31/17.

We take Warren Buffett’s advice: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Is ‘interactive’ life insurance right for you?

Your annual physical is no longer enough for one insurer. Now they want your ‘lifestyle’ data on a continuous basis or you can’t be insured. Hancock says. The Hook: policy holders are incentivized to adopt healthy habits and pay fewer premiums. On the other hand, insurers may eventually use data to select the most profitable customers, while hiking rates for those who do not participate. And can we trust them to provide the discounts or even pay benefits? MetLife and other insurers stopped looking for beneficiaries so they could keep the death benefits. If the beneficiary does not keep in touch with the insurer, they lose. Life insurance is NOT an investment anymore.

Make sure you need insurance first: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178

Are you overpaying for car insurance?

This graphic shows the average costs per state for min and max coverage. Are you where you want to be? You may be paying for benefits you don’t need, like life insurance, towing, or full replacement. You may not have claimed all the discounts you deserve. Unfortunately, insurers don’t ask about the items you can qualify for since it reduces their commission. You have to ask to have life and health care insurance removed. If you have this coverage already, you’re wasting your money with a car insurer. Some add accidental death and disability insurance to your premium. Do you know when NOT to make a claim? If you don’t shop around, you never have the benefit of new client discount. Securing your discount adds up year after year.

https://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

Which Medigap plan is right for you?

Look closely at your supplement plan. Plan F will cease in 2019. The existing Plan G may be a better deal for you. Consult with your doctor and your records to see what you really need. Plan G provides the most benefits but at higher prices than others. For instance, you get limited foreign travel medical assistance included. Frequent co-pays get expensive. Can you switch to generic drugs? One agent says: “You save about $350 a year on premiums, so it makes no sense to buy F to cover the $183 deductible.”

Do your research: https://www.medicare.gov/find-a-plan/questions/medigap-home.aspx

 Is your Medicare Advantage plan denying service you’re due?

Auditors have found “widespread and persistent problems related to denials of care and payment in Medicare Advantage,” the report said. The fixed per-patient rates the government pays may give plans “an incentive to deny preauthorization of services for beneficiaries, and payments to providers, in order to increase profits,” the report said. Enrollment doubled over the past decade. One-third of Medicare patients are now covered by the private plans. In 2016, the plans denied 4% of requests to approve treatment before it was provided, known as prior authorization, and 8% of requests for payment after treatment. Only 1% of patients disputed the insurers’ denials. Most disputes changed denials to approve. Most plans provide additional coverage, such as vision, dental care, and prescription drugs.

Always dispute a denial: some plans reverse 98% of the time.

Who is this Mueller guy anyway?

He never speaks but his pen speaks for him. 35 so far. ‘Witch hunt’ has 191 criminal charges by this duly-authorized former FBI chief of the investigation. What happened to get Trump elected will require a simplified 2 hour movie to explain all that went down with this ‘Russia’r Trump’ thing. This investigation may be more important than the Nixon termination event. As happened then, our democratic principles are at stake. After all the voter suppression, can the people of America vote to put us back on track? Are our votes counted fairly? Can our Reps govern? Can the FBI do its job? Does donor money control every election? Do we outlaw all the money? How much power should the president have?

Will the middle class survive? https://inequality.org/facts/income-inequality/

Is a ‘Retirement’ bond right for you?

The retirement bond would not pay back the principal; instead, after 20 years, it would become more like a deferred annuity paying a stable, secure income—but investors would get more bang for their buck. Martellini says the retirement bonds could be offered as transparent, low-cost products that are easier to get out of than a typical income annuity. Someone five years from retirement today, a 61-year-old, would be buying 2023 retirement bonds. The bonds would start paying cash in 2023, and continue paying for 20 years. If launched, the new retirement bonds could be offered in lieu of bonds or annuities to investors. “Annuities are opaque, costly and mostly irreversible unless you’re willing to pay high surrender charges,” says Martellini. Most retirement investors want security and a guaranteed stream of income, but they also want the flexibility to adjust their investments and their potential income stream over time. But most bonds lose value over time so buying a bond locks in low income payments.

Buy Income and Growth Combo: https://www.amazon.com/Combo-Annuity-Guaranteed-Income-Growth/dp/1493572237

How much emergency cash is enough?

Savings, CD, MM, credit cards or bond fund. Which is best for you? Some propose an employer plan with paycheck deduction like a 401k but with no penalties. Actually some can do this now with a Roth 401k. You get tax-free growth for life and you can take your contributions out anytime without penalty. A short-term corporate bond fund like VFSTX will rise with rates. CDs are tricky since rates are rising so keep away. Or perhaps your best alternative is a HELOC. If you have equity in your home, you can obtain a line of credit for rainy day. Home worth 300,000 and you owe 150,000 you may obtain 50,000. With no closing costs and interest charged (current 5%) only when you use the line, this a perfect ‘emergency’ fund. You can leave your retirement money alone to grow. As long as you don’t misuse this money, you won’t lose your home—HELOC is a 2^nd mortgage.

Don’t fall for your broker/advisor illiquid products: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender/dp/1726328023

Do we go backward or forward with wages?

Most Americans say they are NOT benefiting from the $4,000 Trump promised. Most feel that Trump helped his class—giving us higher tax bills in the future to pay for all the cuts in revenue in the next 10 years. Corporations got to keep all their subsidies, grants and special financial deals. Average homeowners in CA, NY and NJ are not able to deduct their property tax so anyone with a single family home will pay more. Those who own the mansions have put the property in a legal entity to keep the deductions like The Don’s home in Trump Tower—all deductible. Because half of workers are not skilled they earn what they earned in the 1970s-80s adjusted for inflation. Plus health care costs rise and Obama subsidies were cut so many will go bankrupt with illness. We have no infrastructure works program that could employ those workers. Is going backward right for America?

Last time unskilled workers were left stranded, America did not abandon them. They got work building many village halls, dams, bridges, etc. We had hope because we were moving forward with a little help from the feds. 8.5 million of our fellow Americans had work and it paid off. Now most of the subsidy money goes to the wealthy class.

Move forward: https://www.amazon.com/Americas-Socialism-for-Rich-not-little-people/dp/1535218584

Another way the wealthy avoid their fair share

Trump’s new tax law changed the AMT—alternative minimum tax—so that many rich people will not have to pay it. Treasury gave us this tax after it was determined that 155 rich people paid no tax in 1966. Americans were outraged and Congress added a tax. AMT was born in 1979. Millions of rich people had to start paying their fair share under Reagan. Now Trump and his tax-credit class have got CPAs maximizing retirement contributions, funding a health savings account and making investment account adjustments where it makes sense to take the losses for use against gains. “After that, we go for increasing charitable contributions,” an observer added. You don’t need a CPA.

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

Homeowners in Dem states plan property tax limit workaround

New Jersey has set the rules for how residents can make an end run around the $10,000 federal limit on state and local tax deductions. Unfair treatment compared with other states is at stake. The average home in NJ is assessed $18,000 tax. Each jurisdiction can establish non-profits to collect taxes for education, fire, police, libraries, trash pick-up, road repair and other local services making them a charitable deduction. “If and when the IRS finalizes its rules, we’ll see them in court,” Attorney General Gurbir Grewal said.

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

Make America, “The Don”, Great Again

Senile Psychosis

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

McGahn is ‘lodestar’: Told Trump ‘NO’ - saved Mueller!

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

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

Is Medicare for All the answer? Obama Trump could NOT stop the rise in health care.

House on vacation again: no work no pay! Save $ millions—half are already millionaires.

SCAMS/SPINS:

Trump tax cuts went to the wealthy—some middle class actually pay more: voters wise.

Drug prices manipulated due to shortage and shortage created by drug firms: addiction.

Is your ride popular with thieves?

Social Security sends email; NOT call for information—never give callers your info.

Non-bank lenders playing the same role as in 2007: could melt-down happen again?

Trump raising the price of heating oil and gas with tariffs and Iran boycott.

Neil Maxwell CO caught investing funds without telling clients he did it.

Voya caught giving criminals passwords to 5,600 client data. Fined $1 million. Fees rise.

Philip Roesel caught using fake caller ID number to trick us 21 million times. No Jail.

Half of cellphone calls scams: fake directed at most vulnerable of us. Feds do nothing.

Suicide by cop: Everyday people with guns kill co-workers and get cops to kill them.

This is why Wyatt Earp in Tombstone took people’s guns when they came to town.

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Why is Trump surprised when the world laughs at his ridiculous narcissistic statements?

Trump: I fear #METOO Movement. “It’s happened to me many times.” “I grab p__y.”

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Jobs:

$73,000 driving for Walmart: Congress changing law to age 18?

Are you sure you want to keep out all immigrants? She is 7 and the next generation.

Who owns your account now?

Identity theft protection is free: Freeze your account so thieves can’t buy in your name.

What to watch to avoid cyberattackhack/theft: think like hacker—what can go wrong.

Genetic test: insurers can use it for genetic discrimination : results vary by company.

Your business self-insured for health care? Cut out the middle person.

OppenheimerFunds to Invesco Ltd.

Royal Bank of Scotland is changing its name to ‘Bo’ ?????

Miracle:

A tiny clip in your heart can save you but it costs $30,000: doctors/hospital extra?

Good Samaritan helps stranded car but then evil comes.

Two heads are NOT always better than one. Anything can happen and does.

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Long-term care insurance rates up 90%

Long-term care insurance rates up 90%--Will you have to drop it?

Some owners have seen their premiums go up from $1,844 to $3,504 in one year. If both of you have a policy, that means $7,000 a year for another 20 years on average--$140,000. Some insurers have even stopped selling new long-term care policies to individuals nationwide, including Prudential and MetLife. Many owners have had to drop coverage. newsobserver.com/2012/06/21/2152085/long-term-care-insurance-rates.html

Consider the alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Supremes go against Tea Party – Can the Bush regime be over?

Young people may stay on parent’s policy. Insurers can’t revive ‘pre-existing conditions’ in order to deny children coverage if they are sick. Some carriers have dropped child-only policies because of that provision. Perhaps you should shop for separate insurance for your child or young adult. If they are healthy, they may be able to get better coverage cheaper than you can in your employers' plan. It's worth comparison shopping.

We keep the rebate checks! Now, the law requires health insurers to spend at least 80 percent of their premiums on medical care, and to refund to customers amounts over the remaining 20 percent that would be grabbed by profit and overhead.  

Also keep preventive care such as mammograms, colonoscopies, immunizations and more. Medicare participants will keep their free prostate, breast and colon cancer screenings. Coverage will be reduced by each state so the poor will be hit first. States without separate laws or money will cut clinics. Some break the law.

We keep lifetime unlimited coverage. This was the most dangerous part for those of us who have serious and expensive illnesses. Insurers must pay bills for major problems. The wealthy are not the only ones to get lifesaving operations.

We will have new cost choices during the fall open-enrollment season. We will NOT have to give up some things. There will be a federal floor—basic guaranteed coverage.

States will have a hard time taking away contraceptive coverage, new treatments, drugs, etc that cost more. Some may even eliminate women’s health clinics in order to outlaw abortion.

American’s view of health ruled by advertising?

Most Americans say they disapprove of ObamaCare but like the provisions. No wonder: Critics have outspent supporters 3-to-1 in publicity campaigns. They argue "Obamacare" will put half of the U.S. economy in the hands of government. This is all nonsense. Private insurers would have millions of new customers. ‘Mandate’ was a GOP idea. It was pushed by Newt: people taking responsibility instead of getting free care at hospitals. http://www.theblaze.com/stories/2008-video-surfaces-of-gingrich-supporting-health-care-mandate/ Romney won in MA on mandate platform. Now that Mr Obama agrees, GOP against it. A few wealthy Tea Party zealots have paid 3 to 1 to reverse the American Congress. Wow!

The lowest level of support for ObamaCare comes from people who identify themselves as strong supporters of the tea party. Even in that group, though, nearly 60 percent favor what is in the law. Benefits trump ideology.

Surprise: One old white man—a Bush Supreme—saved the health of millions. What power, what glory!

TX limit on malpractice payouts fails to lower costs—Tort reform?

A new study has found no evidence that health- care costs in Texas dipped after a 2003 constitutional amendment limited payouts in medical malpractice lawsuits...

Are you subject to health tax?

The health care reform will be financed in part by tax increases on the wealthy. One section of the measure imposes a 3.8% tax on investment income for individuals who earn more than $200,000 annually and for couples who make more than $250,000.

Another provision imposes a 0.9% tax increase on wages for people in the same earnings categories. The revenue generated by both taxes supports Medicare growth. If your family earns $180,000 annually and realizes $30,000 in capital gains, the 3.8% tax on investment income would be applied to the $10,000 that exceeds the $200,000 threshold. If a you do not earn investment income but have an annual salary of $201,000, the $1,000 over the threshold would be taxed at a 0.9% higher rate. Most people can avoid it by buying municipal bonds, growth stocks and pension plans. You could convert traditional individual retirement accounts into Roth IRAs, which don’t require a minimum distribution either. Create your own Tax-FREE financial system: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Regulators warn about variable annuities … again

The problem is that the investor “may be paying more for a less generous living benefit, and in the bargain he or she has agreed to limit the investment options, thereby restricting the potential for participation in equity market gains.” Compare the options before you buy: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

SD & WI will not follow the law— E pluribus unum?

Dennis Daugaard says he's dismayed by the Supreme Court decision upholding the federal health care law, but the state will delay implementing any part of the law until after the November election. Gov Scott Walker refuses to implement the federal health care law, despite the Supreme Court's ruling to mostly uphold it.

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

Contempt of Congress?

Morgan Chase now says the loss on speculation could hit $8 Billion not $2 B Dimon reported to Congress.

Bankrupt city discards union contracts and debt—wave of future?

Stockton, Calif.'s bankruptcy filing will allow it to get out from under mountains of debt and costly union contracts, but is not indicative of the financial health of other municipal bond borrowers around the country.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

How much can you spend in retirement?

Do you know how much you can spend in retirement?

Check your plan before you hit retirement. You have time to fix it if you don’t have enough. You can check your Social Security benefits online at http://www.ssa.gov/mystatement/. Complete the worksheet for definite answers in

Your Retirement Spending Plan

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

Did you know your 401(k) fees may be 46 percent higher than fees required?

Most of us don’t know how much we are paying. Most of us believe the Wall St myth: Employees believe that higher fees guarantee higher returns, according to a recent study. Actually, the opposite is true. Lower fee index funds often have higher net returns than higher fee actively managed funds. Stock pickers can’t pick the right stocks all the time AND charge fees that are up to 40 times higher--$5 per $10,000 vs. $271 every year. Compare your plan to others: http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/

Most mutual fund holders can save $3,000 a year on fees by switching to the low-cost leader and NOT suffer poor returns. Over time, our members have increased their nest egg by $200,000 to $500,000 by using the two low cost firms: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Can you save on home insurance claims?

Yes. Basic maintenance can save the expense and time of home losses. Here is a checklist of things that you can do: https://www.travelers.com/personal-insurance/renters-insurance/home-maintenance-guide.aspx#spring

Need an unbiased planner to check your plan?

Vanguard, owned by its shareholders, not the fund managers, is offering planners to help you make sure you have what you need. Trained to advise not sell, these Vanguard employees may help you with little or no cost to you because you are a shareholder.

https://personal.vanguard.com/us/whatweoffer/advice/certifiedfinancialplannerABTest?Link=facet2

Women lack nest egg for retirement and live longer—Double disaster GOP could fix

There's a gender gap in the workforce, and it needs to be addressed. Women earn 77 cents for every dollar men earn -- 64 cents for African American women and 56 cents for Latinas -- which adds up to a loss of about $431,000 over the course of their professional lives. No one, on either side of the aisle, wants women to be discriminated against in the workplace. And yet, the Paycheck Fairness Act failed in the Senate on Tuesday. The procedural vote was along party lines, with 46 Republicans voting against it, 50 Democrats voting for it, two independent senators joining the Democrats, and Republican Senator Mark Kirk of Illinois not voting at all. Members create tax-FREE fund for family survivor:

ObamaCare benefits unknown to 80% of Americans

78 percent of consumers who would be eligible for new health care coverage under the Patient Protection and Affordable Care Act have never heard of the state-based health care exchanges where they will have to shop for coverage beginning in 2014. In addition, 60 percent of respondents said they believe they will need help in understanding health care insurance terms and descriptions and navigating the complex health care system. It is no wonder that the public is unfavorable.

Can GOP buy the President position next?

Unions outspent by Koch’s governor Walker in WI—a 21 to 3 ratio election dollars

"This is one election," Chris Fleming, the media director for the American Federation of State, County and Municipal Employees, told Yahoo News of the recall, adding that the left was heavily outspent in this race. "We cannot compete with the Koch brothers and all of Walker's millionaire and billionaire megalomaniac friends who want to take control of the government." Walker personally raised about $21 million, significantly more than the $3 million raised by Democratic challenger Tom Barrett, the mayor of Milwaukee. And Walker additionally benefited from major spending by outside tea party groups and super PACs.

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

AFLAC’s duck gets plucked for messing with customer cash

State split up $1.6 million settlement with Nebraska-based American Family Life Assurance Co., known as AFLAC, after a multistate investigation found numerous problems with the insurance company's practices. Regulators found almost every insurer scam that has been practiced over the years, including agent promises not from insurers, duplicate coverage, churning, pushing bad products, changing dates, rebating and illegal incentives. AFLAC gets to continue these until December because they didn’t admit they were wrong. The $1.6 million will be added to the premiums. No one goes to jail. 

-- Lack of proper supervision of sales, ads made and distributed by insurance agents/brokers, and bonuses and other incentives

-- Sales of duplicate accident and health coverage

-- Sales of policies that replaced or converted existing ones

-- Cross-border sales

-- Suitability/overselling

-- Policies that had waiting periods

-- Record retention and claim-date stamps

-- Discounts and special offers

-- Offering value-added services

AFLAC has not admitted or denied any legal violations. The company agreed to submit compliance reports to the department every six months for a total of three years, starting this December.

Cult leader lived on members death benefits but now charged with murder

The self-proclaimed leader of a Kansas commune that lived off life insurance payouts of its dead members has been ordered to stand trial on a charge of premeditated first-degree murder. Sedgwick County District Judge Clark Owens entered the order Thursday at the end of a preliminary hearing for 52-year-old Daniel U. Perez. Perez is accused in the 2003 death of Patricia Hughes at a compound near Wichita. It was initially listed as accidental. Defense lawyers contended there was not enough evidence to put Perez on trial. Owens disagreed and scheduled a jury trial for July 30.

Life insurance policy requires the beneficiary have an “insurable interest.” Was Hughes Perez’s wife? Was agent in on another scam gone bad?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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

Help your grad become successful

Every grad needs this gift

Wealth: What every high school graduate needs to know in the 21st century $19.95 Amazon http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/

Investors are giving up on broker commission funds

More investors are moving to no-load (no commission) mutual funds. The no-load funds had net inflows of $735 billion from 2009 to 2011, while load-bearing mutual funds saw $109 billion in withdrawals during the same time, according to the Investment Company Institute. Members move to LOW-COST funds also: 0.07% vs 1.68% saves about $500,000 on a lifetime of investing. amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Congress hides ObamaCare benefits to small business by not telling?

Why small business ignores tax credit of 35-50% of cost of health care insurance?

For those small businesses that are either adding insurance coverage or keeping it, the tax credit can save them up to 35 percent. In 2014, the credit increases to up to 50 percent of the cost of their health insurance. In Florida, 220,000 small businesses are eligible for the tax credit, according to a report released last week by Families USA. Many businesses will not take advantage of it simply because they don’t know about it. When they find out, they say: "We all have had health scares in our families; we are all very much aware of what it can do if you don't have (health insurance). If something happens, you could lose everything."

Investors want simple                                                                                    

40% of investors say investment products are too complex and that one-third feel overwhelmed by their investment options, according to a survey by MFS Investment. We suspect both figures are low. Members go with the Simple Financial Life: amazon.com/The-Simple-Financial-Life-paycheck/dp/1441499326

Young workers want pensions
Younger workers prefer guaranteed income in retirement than older workers, according to a study by the Hartford. Yet more than half are not saving/investing for retirement.

Tax-Free Living: 2012 strategies to build a tax free $2,000,000

http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702/

CA low-cost auto cover falls 9% $257.69 a YEAR

The cost of an annual premium has decreased up to 9 percent across 58 counties and the income eligibility caps for qualifying have increased. Beginning May 15, the cost of an annual premium for the program has decreased up to nine percent across California's 58 counties and the income eligibility caps for qualifying for the program have increased, allowing more of California's uninsured drivers to qualify for state-sponsored Low Cost Automobile Insurance. Average cost of an annual Low Cost Automobile Insurance policy in California is now $257.69 a year and the premiums for all California counties are now less than $350 annually. 15 percent of the cars on California roads don't have insurance.

Go figure?

A study finds that in 3 of 4 states that enacted texting bans, accidents actually increased. Instead they’ll put the phones deeper in their laps to avoid detection and the result will be an increase in accidents. It’s like football helmets—instead of protection, it’s a weapon. http://www.csmonitor.com/Commentary/Opinion/2012/0517/Inconvenient-truths-to-a-ban-on-texting-while-driving

Is critical illness insurance right for you?

The chance of getting diagnosed with cancer or having a heart attack is heightened for people over age 40. In fact, according to the American Cancer Society, one in two men and one in three women develop cancer in their lifetime. This insurance is like a savings account: you get a lump sum to spend. A person in their mid-40s will pay $180 a year for a $15,000 lump sum benefit. A recent study found the average financial cost associated with a critical illness is $35,500. Most of the cost is linked to lost wages, the survey found. MetLife found that households spend nearly $5,000 on out-of-pocket medical expenses that insurance won’t cover, and about $1,500 on non-medical expenses. Let’s do the math: pay $180 a year for 40 years for $15,000 benefit if you need it. But you can pay $180 a year for 40 years in a bond fund and have $53,000 tax-FREE AND you don’t need to get sick. Members buy only what they need: http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Should stay at home parent be denied credit card?
“Denying someone a credit card because that person is a stay-at-home parent devalues the work of raising and caring for children and that person’s worth as a partner,” MomsRising Executive Director Kristin Rowe-Finkbeiner said in a statement Tuesday. " This radical shift in policy -- considering individual income rather than household income in granting credit -- does nothing to help credit card companies assess credit-worthiness and everything to harm moms or dads who don’t earn income.” New law denies credit to those without income in their own name. Household income is not enough even though they make 90% of all purchases for the home. http://www.change.org/petitions/don-t-set-us-back-half-a-century-give-stay-at-home-moms-credit

 

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

Will Congress cap the taxes it gives to farm corporations?                Save $1B

A recent report by the Government Accountability Office, which was originally requested by Sen. Coburn, that outlined possible savings of up to $1 billion a year on crop insurance if Congress capped the subsidies for the premiums paid by farmers and USDA took more aggressive steps to monitor for fraud and abuse in the program.

Will Congress stop the bank bailout waiting to happen?                     Save $3B

Morgan Chase’s $2 billion loss proved that we need to separate the banks into 2 banks: the FDIC backed deposit bank and the betting bank. Sen. Carl Levin, D-Mich., said that Dodd-Frank allows banks to hedge particular assets but prohibits the kind of position that JPMorgan took.

“This kind of hedging on the direction of the economy is not allowed,” Mr. Levin said. Regulators have given banks two years to implement Dodd-Frank. Morgan Chase bets on “synthetic credit securities” and could face $1 billion more in losses. They aren’t sure  how it happened exactly???? NY Fed knew about JPMorgan's trading loss and did nothing. Government is letting it happen again.

Do we need another catastrophe before we do something?

GE pays fired employee $2.25 million for poor job performance!

Genworth Financial will pay former Chief Executive Michael Fraizer a lump sum of $2.25 million as well as stock options worth $ millions as part of a separation agreement reached on Monday. Fraizer stepped down as CEO after the company's weaker-than-expected results earlier this month. Only in America!

By the way, GE made $5.1 billions and paid no tax--got a refund too!

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=2&scp=1&sq=GE%20taxes&st=cse

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Graduation present of the year!

Wealth: What every high school graduate needs to know in the 21st century $19.95

http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906/

Your tax refunds could be your future Tax-FREE retirement

What you do with your refund (average over $3,000) could determine your future financial life. Investing $3,000 a year can accumulate in a tax-FREE Wealth Reserve and provide you with a reserve to pay cash instead of giving up interest and in the future, a comfortable retirement. Use it for deductibles and pay fewer premiums for all contracts too. Consider: $3,000 a year can compound to $115,000 in 15 years, 215,000 in 20, and $700,000 in 30 years using 10 funds averaging over 11% a year. See http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

Did you receive a refund?

Why are you making a loan to the US government?

Take your refund up front and build a tax-free retirement. Increase your allowances so your boss takes out less in your paycheck. Use this form to increase allowances 1 or 2.   http://www.irs.gov/pub/irs-pdf/fw4.pdf

How much are you paying for college savings plans?

The Coalition of Mutual Fund Investors found that plans sold through financial advisers or brokers charge more than twice as much in annual fees than plans that parents choose directly through states and manage on their own. On average, the adviser-sold plans were 2.15 times as expensive. The difference was larger when the fund investor organization also included initial sales charges and account maintenance fees that an investor would pay over 10 years — the time span many parents spend building up a 529 account. That comparison found adviser-sold plans cost 2.73 times as much, on average. In dollar terms, the 10-year cost of a $10,000 investment was an average $1,944 for adviser-sold plans compared with $712 for direct-sold plans. Compare fees: http://corporate.morningstar.com/us/pr/529_PaperUpdate.pdf

Unless your state gives you a tax break, low-cost leaders Vanguard and Fidelity are the best choices no matter where you live.

Students face big financial aid changes in 2012 unless our “Reps” work together

Starting July 1, 2012, interest rates on subsidized Stafford loans will jump from 3.4 percent to 6.8 percent, reports the Department of Education. Unsubsidized Stafford loan and graduate Stafford loan rates will stay locked at 6.8 percent.

http://www.nypost.com/p/news/national/student_loan_brawl_oyGP6KSH2wTdfoE4qa8CdO

Another war?              Are your taxes paid?

Multiple stealth F-22 Raptors, which have never been combat-tested, are now in hangars at the United Arab Emirates. They cost an estimated $79 billion and the oxygen to pilots fails unexpectedly.

No matter. The Air Force says the F-22 is ready for war, should it be called.

A former Israeli spymaster has branded the country's leaders unfit to tackle the Iranian nuclear program because of what he called the "messianic feelings" behind their threats to launch a pre-emptive war on Iran.

Is ”asset-based” long-term care insurance right for you?

This name is really a misnomer. Insurers are reacting to the failure of long-term care insurance to thrive by adding a rider to their regular savings-plan life insurance. They are pitching expensive life insurance as long-term care insurance so younger buyers will feel better about buying life insurance. Now, they say, you get two for one. Sellers can now avoid the ‘use it or lose it’ risk of LTCi. Most of the new Life+LTC policies do NOT include a benefit increase option that bumps up available benefits to keep pace with inflationary growth of costs. Thus buyers are being misled to think this policy will cover their future needs. However, when they need care—perhaps 20-30 years hence—they will find that the benefit is so small as to be useless. An alternative, to invest in appreciating assets, will cover needs more appropriately AND retains value for heirs. Members craft their own care benefits/legacy using our Guide: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

GOP gone over the edge?

FL Rep Allen West declares 81 of his colleagues are communists. McCarthyism?

Facts died Wednesday, April 18, after a long battle for relevancy with the 24-hour news cycle, blogs and the Internet. Though few expected Facts to pull out of its years-long downward spiral, the official cause of death was from injuries suffered last week when Florida Republican Rep. Allen West steadfastly declared that as many as 81 of his fellow members of theU.S. House of Representatives are communists. http://articles.chicagotribune.com/2012-04-19/news/ct-talk-huppke-obit-facts-20120419_1_facts-philosopher-opinion

GOP view of US future is not Christian, Bishops say!

There is something un-Christian about the Gospel According to Paul Ryan. So, at least, says Ryan's Catholic Church. The bishops, in opposing Ryan's budget, called for "shared sacrifice by all, including raising adequate revenues."

"Your budget," a group of Jesuit scholars and other Georgetown University faculty members wrote to Ryan last week, "appears to reflect the values of your favorite philosopher, Ayn Rand, rather than the Gospel of Jesus Christ.”

Even Jesus said to render unto Caesar that which is Caesar's. Ryan would rather give the rich a tax cut.

http://articles.orlandosentinel.com/2012-05-01/news/os-ed-dana-milbank-042912-20120501_1_ryan-s-budget-paul-ryan-catholic-bishops

AL health care structure may kill people

Alabama's leaders disagree on how to fund the state's Medicaid program should be properly funded, both sides agree on one thing: People will die if it isn't.

All sides agree that lives hang in the balance -- and not just the lives of people who rely on Medicaid for care. State health officials and lawmakers said a $400 million state Medicaid budget would trigger a chain reaction that would lead to care facilities closing and doctors leaving the state or going out of business.

American “job creators” leaving US to find demand

“We’re investing in India. We’re investing in Russia. We’re investing in Brazil. Not to ship products back here but because demand exists in those markets,” a Fortune 500 CEO said. “At the end of the day, this is really about responding to demand. We’re not going to go out and invest unless there’s demand.”

Are Inverse and leveraged ETFs for you?

Regulators fined four brokerage giants – Citigroup, Morgan Stanley, UBS, and Wells Fargo for selling complex ETFs to retail clients whose conservative portfolios shouldn't have contained the risky investments. The brokerages agreed to pay $7.3 million in fines and $1.8 in restitution to customers who bought unsuitable inverse and leveraged ETFs. The only reason brokers put these customers at risk is the commission. "What kind of deterrence does this serve if they can still keep (nearly all) of the profits from the trading...?" said Jill Gross, director of the Investor Rights Clinic at Pace Law School in New York.

EXAMPLE: A 65-year-old conservative customer of Wells Fargo with a stated net worth less than $50,000 held a non-traditional ETF for 43 days and sustained losses of more than $25,000.

Have you been denied health coverage?  See Pre-Existing Condition Insurance Plan.

•You must have been without health coverage for at least the last 6 months. Please note that if you currently have insurance coverage that doesn’t cover your medical condition or are enrolled in a state high risk pool, you are not eligible for the Pre-Existing Condition Insurance Plan.

•You must have a pre-existing condition or have been denied health coverage because of your health condition. Information about what documents about your pre-existing condition you need to provide with your application is available here.

https://www.pcip.gov/StatePlans.html

Are your brokerage fees excessive?

Find out by using a new service: SigFig. Some advisers charge customers “wildly different fees” — ranging from 70 basis points to 260 basis points — for the same services. For instance, some firms give a discount to large accounts, but the discounts don't necessarily line up with account size. “Basically, they charge you whatever they think they can get out of you,” Mr. Conrad said. Joe Duran, chief executive of United Capital, called SigFig a “revolutionary” product that will reward low-cost providers. https://www.sigfig.com/ Disclaimer: Insiders have not used this yet.

Do you know what Social Security will pay you each month?

“Our new online Social Security Statement, available at www.socialsecurity.gov/mystatement, is simple, easy-to-use and provides people with estimates they can use to plan for their retirement,” said Michael J. Astrue, Commissioner of Social Security. Members make a spending plan so there are no surprises: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016/

Have you shopped for auto coverage lately?

Insurers increase advertising to attract new customers.  You may be surprised by saving 30% on your premium because insurers are using more aggressive pricing. Use our Guide to save thousands of dollars over the next 10 years. http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

WA sued by women who want their health care

Dozens of women filed a lawsuit against Attorney General Rob McKenna, alleging that his participation in legal action to overturn federal health reform threatens access to comprehensive coverage for women. McKenna’s actions are not in the best interest of Washington state and its residents, which he is obligated by law to represent, the lawsuit says. http://www.columbian.com/news/2012/may/03/dozens-of-women-sue-ag-mckenna/

SCAMS                       Only the little people pay taxes.” Leona Helmsley

Which lobbyist is your “representative” hearing from today?

It will cost you to see your rep but you can let them know you need your tax benefits. See where and when to meet: http://politicalpartytime.org/

Another “too big to fail” bank/hedge fund

Wells Fargo will look more like its Wall Street counterparts after a deal announced Friday to buy Merlin Securities, a prime brokerage and technology provider. Wells announced the acquisition of LaCrosse Global Fund Services, a hedge fund administration and service provider, in September. Wells will set up a big trading operation to complement its retail bank like all the rest.

Former Fed banker warns oligopoly banks still can hurt us

“We cannot have a durable, competitive, dynamic banking system that facilitates economic growth if policy protects the franchises of oligopolies atop the financial sector,” Mr. Warsh told an audience at the Stanford.

Wealthy “Americans” line up to give up passports in Swiss capital

Rich Americans renouncing U.S. citizenship rose sevenfold since a UBS whistle-blower triggered a crackdown on tax evasion four years ago. Few have been prosecuted for hiding income however. They pay a fee of $450 to renounce!?!

IAN

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